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Contracts in Process
 3 Months Ended
Mar. 31, 2014
Contracts in Process  
Contracts in Process

3. Contracts in Process

 

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

 

 

 

March 31,

 

December 31,

 

(In thousands)

 

2014

 

2013

 

 

 

 

 

 

 

Costs and estimated earnings on uncompleted contracts

 

$

1,776,835

 

$

1,748,204

 

Less: Billings to date

 

1,777,950

 

1,760,637

 

 

 

$

(1,115

)

$

(12,433

)

 

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

 

 

 

March 31,

 

December 31,

 

(In thousands)

 

2014

 

2013

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

$

47,637

 

$

40,519

 

Billings in excess of costs and estimated earnings on uncompleted contracts

 

(48,752

)

(52,952

)

 

 

$

(1,115

)

$

(12,433

)