RECEIVABLES

3 Months Ended

Mar. 31, 2026

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)	March 31, 2026		December 31, 2025
Billed receivables:
Trade and other receivables	$	551,031	$	526,320
Unbilled receivables (contract assets):
Recoverable costs and estimated earnings not billed, net of progress payments	451,941		412,410
Total receivables	1,002,972		938,730
Less: Allowance for doubtful accounts	(6,641)		(6,386)
Receivables, net	$	996,331	$	932,344