Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Schedule of Initial Impact of the New Revenue Recognition Standard

A comparison of certain line items in our condensed consolidated statement of operations is shown below:

	Three Months Ended March 31, 2018
	Current Method		Historical Method
	(In thousands)
Revenues	$	457,463	$	465,530
Cost of operations	$	327,364	$	334,542
Operating Income	$	79,888	$	80,777
Provision for Income Taxes	$	18,603	$	18,732
Net Income	$	66,413	$	67,173

A comparison of certain line items in our condensed consolidated balance sheet is shown below:

	March 31, 2018
	Current Method		Historical Method
	(In thousands)
Assets:
Contracts in progress	$	337,375	$	365,192
Deferred Income Taxes	$	84,727	$	85,443
Liabilities:
Accrued liabilities – other	$	51,662	$	49,327
Advance billings on contracts	$	77,140	$	117,174
Stockholders' Equity:
Retained earnings	$	1,053,090	$	1,043,924

The initial impact of the adoption of the FASB Topic Revenue from Contracts with Customers, which was recognized in a cumulative catch-up adjustment, is illustrated below:

	January 1,		December 31,
	2018		2017
	(In thousands)
Assets:
Contracts in progress	$	260,932	$	420,628
Deferred Income Taxes	$	85,193	$	86,740
Liabilities:
Accrued liabilities – other	$	66,371	$	64,738
Advance billings on contracts	$	73,390	$	246,192
Stockholders' Equity:
Retained earnings	$	1,000,578	$	990,652

Schedule of Disaggregated Revenues

Revenues by geographical area and customer type are as follows:

	Three Months Ended March 31, 2018
	Nuclear Operations Group		Nuclear Services Group		Nuclear Power Group		Total
	(In thousands)
United States:
Government	$	316,631	$	25,881	$	—	$	342,512
Non-Government	—		3,177		260		3,437
	$	316,631	$	29,058	$	260	$	345,949
Canada:
Government	$	—	$	—	$	—	$	—
Non-Government	—		975		82,325		83,300
	$	—	$	975	$	82,325	$	83,300
Other:
Government	$	—	$	—	$	—	$	—
Non-Government	—		—		30,231		30,231
	$	—	$	—	$	30,231	$	30,231
Segment Revenues	$	316,631	$	30,033	$	112,816	459,480
Adjustments and Eliminations							(2,017		)
Revenues							$	457,463

Revenues by timing of transfer of goods or services are as follows:

	Three Months Ended March 31, 2018
	Nuclear Operations Group		Nuclear Services Group		Nuclear Power Group		Total
	(In thousands)
Over-time	$	316,631	$	30,033	$	105,109	$	451,773
Point-in-time	—		—		7,707		7,707
Segment Revenues	$	316,631	$	30,033	$	112,816	459,480
Adjustments and Eliminations							(2,017		)
Revenues							$	457,463

Revenues by contract type are as follows:

	Three Months Ended March 31, 2018
	Nuclear Operations Group		Nuclear Services Group		Nuclear Power Group		Total
	(In thousands)
Fixed-Price Incentive Fee	$	249,240	$	—	$	4,028	$	253,268
Firm-Fixed-Price	47,058		5,410		74,282		126,750
Cost-Plus Fee	20,233		23,953		45		44,231
Time-and-Materials	100		670		34,461		35,231
Segment Revenues	$	316,631	$	30,033	$	112,816	459,480
Adjustments and Eliminations							(2,017		)
Revenues							$	457,463

Schedule of Contract Assets and Liabilities

Our fixed-price incentive fee contracts for our Nuclear Operations Group segment include provisions that result in an increase in retainages on contracts during the first and third quarters of the year, with larger payments made during the second and fourth quarters. This resulted in an increase in retainages on contracts from January 1 to March 31, 2018 as shown below:

	March 31,		January 1,
	2018		2018
	(In thousands)
Included in Contracts in progress:
Unbilled receivables	$	325,745	$	250,325
Included in Accounts receivable – trade, net:
Retainages	$	93,258	$	82,801
Included in Other Assets:
Retainages	$	1,656	$	1,669
Advance billings on contracts	$	77,140	$	73,390

Schedule of Remaining Performance Obligations

Of the March 31, 2018 remaining performance obligations on our contracts with customers, we expect to recognize revenues as follows:

	2018		2019		Thereafter		Total
	(In approximate millions)
Nuclear Operations Group	$	944	$	802	$	1,256	$	3,002
Nuclear Services Group	21		3		4		28
Nuclear Power Group	168		111		271		550
Total Remaining Performance Obligations	$	1,133	$	916	$	1,531	$	3,580