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CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS
 12 Months Ended
Dec. 31, 2017
Contractors [Abstract]  
CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS

NOTE 8—CONTRACTS IN PROGRESS AND ADVANCE BILLINGS ON CONTRACTS

Components of contracts in progress and advance billings on contracts is as follows:

 

 

 

2017

 

 

2016

 

 

 

(In thousands)

 

Costs incurred less costs of revenue recognized

 

$

98,127

 

 

$

119,688

 

Revenues recognized less billings to customers

 

 

523,284

 

 

 

199,450

 

Contracts in Progress

 

$

621,411

 

 

$

319,138

 

 

 

 

 

 

 

 

 

 

Billings to customers less revenue recognized

 

 

45,661

 

 

 

42,637

 

Costs incurred less costs of revenue recognized

 

 

(13,409

)

 

 

149,849

 

Advance Billings on Contracts

 

$

32,252

 

 

$

192,486