XML 353 R35.htm IDEA: XBRL DOCUMENT v3.25.1
REVENUE RECOGNITION AND CONTRACTS (Tables)
 3 Months Ended
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, 2025December 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 customers39,912 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, 2024December 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 customers60,000 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)%