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CONTRACTS IN PROGRESS | 6 Months Ended
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Jun. 30, 2015
CONTRACTS IN PROGRESS [Abstract] |
CONTRACTS IN PROGRESS | 5. CONTRACTS IN PROGRESS Costs and recognized earnings in excess of billings on uncompleted contracts and billings in excess of costs and recognized earnings on uncompleted contracts consist of the following (in thousands):
|  | June 30, 2015 |  |  | December 31, 2014 |
Costs incurred on contracts in progress |  | $ | 609,094 |  |  | $ | 531,129 |
Estimated earnings |  |  | 89,067 |  |  |  | 73,540 |
|  |  | 698,161 |  |  |  | 604,669 |
Less progress billings |  |  | 692,447 |  |  |  | 618,530 |
|  | $ | 5,714 |  |  | $ | (13,861 | )
The above is included in the accompanying condensed consolidated balance sheet under the following captions: |  |  |  |  |  |  |  |
Costs and recognized earnings in excess of billings on uncompleted contracts |  |  | 35,573 |  |  |  | 28,098 |
Billings in excess of costs and recognized earnings on uncompleted contracts |  |  | (29,859 | ) |  |  | (41,959 | )
|  | $ | 5,714 |  |  | $ | (13,861 | )

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- References No definition available. + Details
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- Definition The entire disclosure for contracts in progress that are classified as current at the end of the reporting period. + References No definition available. + Details
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