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Contracts in Process
 6 Months Ended
Jun. 30, 2012
Contracts in Process  
Contracts in Process

3. Contracts in Process

        The net asset (liability) position for contracts in process consisted of the following:

(In thousands)
  June 30,
2012 		  December 31,
2011 		 

Costs and estimated earnings on uncompleted contracts

   $ 1,257,243   $ 1,027,805  

Less: Billings to date

     1,231,940     1,009,056  
           

 

   $ 25,303   $ 18,749  
           

        The net asset (liability) position for contracts in process included in the accompanying consolidated balance sheets was as follows:

(In thousands)
  June 30,
2012 		  December 31,
2011 		 

Costs and estimated earnings in excess of billings on uncompleted contracts

   $ 54,166   $ 43,694  

Billings in excess of costs and estimated earnings on uncompleted contracts

     (28,863 )   (24,945 )
           

 

   $ 25,303   $ 18,749