Inventories (Details) (USD $) In Thousands	Sep. 30, 2011	Dec. 31, 2010
Net Components of Inventory
Raw materials	$ 326,241	$ 265,742
Work in process	764,525	688,710
Finished goods	339,293	306,083
Less: Progress billings	(279,968)	(305,541)
Less: Excess and obsolete reserve	(73,387)	(68,263)
Inventories, net	$ 1,076,704	$ 886,731

The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost.

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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+ Details