Contracts in Progress

9 Months Ended

Sep. 30, 2011

Contracts in Progress [Abstract]

Trade and Other Accounts Receivable, Unbilled Receivables

Contracts in Progress

Contracts in progress are as follows at September 30, 2011 and December 31, 2010:

	September 30, 2011			December 31, 2010
Costs incurred on uncompleted contracts	$	270,277		$	268,603
Estimated earnings	51,414			79,208
	321,691			347,811
Less: Billings to date	(311,707		)	(326,097		)
	$	9,984		$	21,714
Included in the accompanying consolidated balance sheet under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	14,209			$	26,103
Billings in excess of costs and estimated earnings on uncompleted contracts	(4,225		)	(4,389		)
	$	9,984		$	21,714

Contract costs include all direct costs, such as materials and labor, and those indirect costs related to contract performance such as payroll taxes and insurance. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined. An amount equal to contract costs attributable to claims is included in revenues when realization is probable and the amount can be reliably estimated.