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Fair Value of Financial Instruments and Derivatives
6 Months Ended
Jun. 30, 2014
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments and Derivatives

14. FAIR VALUE OF FINANCIAL INSTRUMENTS AND DERIVATIVES

The carrying amounts reported in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, inventory, costs and recognized earnings in excess of billings, accounts payable, accrued expenses, billings in excess of costs and recognized earnings, and other current assets and liabilities approximate fair value due to relatively short periods to maturity. The Company’s investments, recorded at fair value using quoted market prices (a Level 1 approach), as of June 30, 2014 was $0.8 million. The estimated aggregate fair value of the Company’s debt, based on significant other observable inputs (a Level 2 approach) approximated its carrying value of $86.0 million at June 30, 2014.