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REVENUE RECOGNITION AND CONTRACTS (Tables) | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Contracts in Progress and Advance Billings on Contracts | The following represents the components of the Contracts in progress and Advance billings on contracts included in the Condensed Consolidated Balance Sheets:
(in thousands) | March 31, 2025 |  | December 31, 2024 |  | $ Change |  | % Change
Contract assets - included in contracts in progress: |  |  |  |  |  |  |
Costs incurred less costs of revenue recognized | $ | 25,734 |  |  | $ | 31,691 |  |  | $ | (5,957) |  |  | (19) | %
Revenues recognized less billings to customers | 39,912 |  |  | 50,712 |  |  | (10,800) |  |  | (21) | %
Contracts in progress | $ | 65,646 |  |  | $ | 82,403 |  |  | $ | (16,757) |  |  | (20) | %
Contract liabilities - included in advance billings on contracts: |  |  |  |  |  |  |
Billings to customers less revenues recognized | $ | 53,636 |  |  | $ | 57,893 |  |  | $ | (4,257) |  |  | (7) | %
Costs of revenue recognized less cost incurred | — |  |  | 585 |  |  | (585) |  |  | (100) | %
Advance billings on contracts | $ | 53,636 |  |  | $ | 58,478 |  |  | $ | (4,842) |  |  | (8) | %
Accrued contract losses | $ | (17) |  |  | $ | 217 |  |  | $ | (234) |  |  | (108) | %
(in thousands) | March 31, 2024 |  | December 31, 2023 |  | $ Change |  | % Change
Contract assets - included in contracts in progress: |  |  |  |  |  |  |
Costs incurred less costs of revenue recognized | $ | 27,993 |  |  | $ | 12,100 |  |  | $ | 15,893 |  |  | 131 | %
Revenues recognized less billings to customers | 60,000 |  |  | 38,206 |  |  | 21,794 |  |  | 57 | %
Contracts in progress | $ | 87,993 |  |  | $ | 50,306 |  |  | $ | 37,687 |  |  | 75 | %
Contract liabilities - included in advance billings on contracts: |  |  |  |  |  |  |
Billings to customers less revenues recognized | $ | 56,509 |  |  | $ | 54,051 |  |  | $ | 2,458 |  |  | 5 | %
Costs of revenue recognized less cost incurred | 6,468 |  |  | 5,066 |  |  | 1,402 |  |  | 28 | %
Advance billings on contracts | $ | 62,977 |  |  | $ | 59,117 |  |  | $ | 3,860 |  |  | 7 | %
Accrued contract losses | $ | (28) |  |  | $ | 46 |  |  | $ | (74) |  |  | (161) | %

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- References No definition available. + Details
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