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Contracts in Process
 6 Months Ended
Jun. 30, 2013
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,
2013		   December 31,
2012		  

Costs and estimated earnings on uncompleted contracts

   $ 1,580,917   $ 1,439,455  

Less: Billings to date

     1,593,069     1,410,271  
           

 

   $ (12,152 ) $ 29,184  
           

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

(In thousands)
  June 30,
2013		   December 31,
2012		  

Costs and estimated earnings in excess of billings on uncompleted contracts

   $ 36,836   $ 61,773  

Billings in excess of costs and estimated earnings on uncompleted contracts

     (48,988 )   (32,589 )
           

 

   $ (12,152 ) $ 29,184