RECEIVABLES

9 Months Ended

Sep. 30, 2020

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)	September 30, 2020		December 31, 2019
Billed receivables:
Trade and other receivables	$	386,098	$	418,968
Less: Allowance for doubtful accounts	(8,755)		(8,733)
Net billed receivables	377,343		410,235
Unbilled receivables (contract assets):
Recoverable costs and estimated earnings not billed	264,807		231,067
Less: Progress payments applied	(7,206)		(9,108)
Net unbilled receivables	257,601		221,959
Receivables, net	$	634,944	$	632,194