CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of Contract Assets and Liabilities

Our contract assets and liabilities as of March 31, 2018 and December 31, 2017 were as follows and are reflective of the accounting treatment in effect as of each reporting date:

	March 31, 2018			December 31, 2017
	(In thousands)
Costs incurred less costs of revenues recognized	$	(3,228	)	$	98,127
Revenues recognized less billings to customers		509,648			523,284
Contracts in Progress, assets		506,420			621,411

Billings to customers less revenues recognized		28,279			45,661
Costs incurred less costs of revenues recognized		11,928			(13,409	)
Advance billings on contracts		40,207			32,252