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Fabrication Contracts
 12 Months Ended
Dec. 31, 2011
Fabrication Contracts [Abstract]  
Fabrication Contracts

4. Fabrication Contracts

Costs, estimated earnings and billings on uncompleted contracts consisted of the following (in thousands):

 

 

                 
    December 31,  
              2011                        2010          

Costs incurred on uncompleted contracts

   $ 895,337     $ 1,318,971  

Estimated earnings

     157,893       277,768  
   

 

 

    

 

 

  
      1,053,230       1,596,739  

Less — billings to date

     (1,014,977 )      (1,579,448 ) 
   

 

 

    

 

 

  
    $ 38,253     $ 17,291  
   

 

 

    

 

 

  

 

Costs, estimated earnings and billings on uncompleted contracts are presented in the accompanying financial statements as follows (in thousands):

 

 

                 
    December 31,  
    2011     2010  

Costs and estimated earnings in excess of billings on uncompleted contracts

   $  122,214     $ 147,901  

Billings on uncompleted contracts in excess of costs and estimated earnings

     (83,961 )      (130,610 ) 
   

 

 

    

 

 

  
    $ 38,253     $ 17,291