RECEIVABLES

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

RECEIVABLES

RECEIVABLESReceivables 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, 2022		December 31, 2021
Billed receivables:
Trade and other receivables	$	403,998	$	362,007
Unbilled receivables (contract assets):
Recoverable costs and estimated earnings not billed	314,692		291,758
Less: Progress payments applied	(559)		(1,297)
Net unbilled receivables	314,133		290,461
Less: Allowance for doubtful accounts	(4,539)		(5,320)
Receivables, net	$	713,592	$	647,148