RECEIVABLES

6 Months Ended

Jun. 30, 2014

Receivables [Abstract]

RECEIVABLES

RECEIVABLES

Receivables primarily include amounts billed to customers, unbilled charges on long-term contracts consisting of amounts recognized as sales but not billed, and other receivables.  Substantially all amounts of unbilled receivables are expected to be billed and collected within one year. An immaterial amount of unbilled receivables are subject to retainage provisions. The amount of claims and unapproved change orders within our receivables balances are immaterial.

The composition of receivables is as follows:

	(In thousands)
	June 30, 2014			December 31, 2013
Billed receivables:
Trade and other receivables	$	454,802		$	444,841
Less: Allowance for doubtful accounts	(6,435		)	(6,857		)
Net billed receivables	448,367			437,984
Unbilled receivables:
Recoverable costs and estimated earnings not billed	187,588			184,120
Less: Progress payments applied	(14,540		)	(18,512		)
Net unbilled receivables	173,048			165,608
Receivables, net	$	621,415		$	603,592