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Fabrication Contracts
 12 Months Ended
Dec. 31, 2013
Fabrication Contracts  
Fabrication Contracts

4.  Fabrication Contracts

 

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

 

 

 

December 31,

 

 

 

2013

 

2012

 

Costs incurred on uncompleted contracts

 

$

713,889

 

$

1,133,835

 

Estimated earnings

 

109,494

 

195,742

 

 

 

823,383

 

1,329,577

 

Less — billings to date

 

(794,133

)

(1,334,730

)

 

 

$

29,250

 

$

(5,153

)

 

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

 

 

 

December 31,

 

 

 

2013

 

2012

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

$

117,175

 

$

159,098

 

Billings on uncompleted contracts in excess of costs and estimated earnings

 

(87,925

)

(164,251

)

 

 

$

29,250

 

$

(5,153

)