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Fabrication Contracts (Tables)
 12 Months Ended
Dec. 31, 2012
Fabrication Contracts  
Costs, estimated earnings and billings on uncompleted contracts

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

 

 

 

December 31,

 

 

 

2012

 

2011

 

Costs incurred on uncompleted contracts

 

$

1,133,835

 

$

895,337

 

Estimated earnings

 

195,742

 

157,893

 

 

 

1,329,577

 

1,053,230

 

Less — billings to date

 

(1,334,730

)

(1,014,977

)

 

 

$

(5,153

)

$

38,253

 

 
Costs, estimated earnings and billings on uncompleted contracts as presented in the financial statements

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

 

 

 

December 31,

 

 

 

2012

 

2011

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

$

159,098

 

$

122,214

 

Billings on uncompleted contracts in excess of costs and estimated earnings

 

(164,251

)

(83,961

)

 

 

$

(5,153

)

$

38,253