RECEIVABLES

6 Months Ended

Jun. 30, 2025

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. 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, 2025		December 31, 2024
Billed receivables:
Trade and other receivables	$	549,563	$	479,837
Unbilled receivables (contract assets):
Recoverable costs and estimated earnings not billed, net of progress payments	418,267		359,402
Less: Allowance for doubtful accounts	(6,229)		(4,202)
Receivables, net	$	961,601	$	835,037