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Fabrication Contracts
 12 Months Ended
Dec. 31, 2014
Fabrication Contracts  
Fabrication Contracts

 

6.  Fabrication Contracts

 

Costs, estimated earnings and billings on uncompleted contracts that are recognized using the percentage-of-completion method consisted of the following (in thousands):

 

 

 

December 31,

 

 

 

2014

 

2013

 

Costs incurred on uncompleted contracts

 

$
811,977

 

$
713,889

 

Estimated earnings

 
134,569

 
109,494

 

 

 
946,546

 
823,383

 

Less — billings to date

 
(901,885

)
(794,133

)

 

 

$
44,661

 

$
29,250

 

 

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

 

 

 

December 31,

 

 

 

2014

 

2013

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

$
120,938

 

$
117,175

 

Billings on uncompleted contracts in excess of costs and estimated earnings

 
(76,277

)
(87,925

)

 

 

$
44,661

 

$
29,250