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Contracts in Process
 12 Months Ended
Dec. 31, 2012
Contracts in Process  
Contracts in Process

6. Contracts in Process

        The net asset position for contracts in process consisted of the following at December 31:

(in thousands)
   2012   2011  

Costs and estimated earnings on uncompleted contracts

   $ 1,439,455   $ 1,027,805  

Less: Billings to date

     1,410,271     1,009,056  
           

 

   $ 29,184   $ 18,749  
           

        The net asset position for contracts in process is included in the accompanying consolidated balance sheets as follows at December 31:

(in thousands)
   2012   2011  

Costs and estimated earnings in excess of billings on uncompleted contracts

   $ 61,773   $ 43,694  

Billings in excess of costs and estimated earnings on uncompleted contracts

     (32,589 )   (24,945 )
           

 

   $ 29,184   $ 18,749