SUPPLEMENTAL BALANCE SHEET INFORMATION

Allowance for Doubtful Accounts

Activity in the allowance for doubtful accounts is summarized as follows for the years ended December 31 (in thousands):



	2014			2013			2012
Balance, at beginning of year	$	3,441		$	2,953		$	3,077
Bad debt expense ⁽¹⁾	21,911			1,043			428
Write-offs and adjustments ⁽¹⁾	(6,045		)	(555		)	(552		)
Balance, at end of year	$	19,307		$	3,441		$	2,953

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⁽¹⁾	The Company recorded bad debt expense of $11.9 million in 2014 as part of the 2014 Restructuring Plan (see Note 3) and was primarily due to the exiting of certain low-return businesses mainly in foreign locations.

Costs and Estimated Earnings on Uncompleted Contracts

Costs and estimated earnings on uncompleted contracts consisted of the following at December 31 (in thousands):



	2014			2013
Costs incurred on uncompleted contracts	$	795,139		$	740,403
Estimated earnings to date	158,982			141,413
Subtotal	954,121			881,816
Less – billings to date	(903,098		)	(826,795		)
Total	$	51,023		$	55,021
Included in the accompanying balance sheets:
Costs and estimated earnings in excess of billings	94,045			79,999
Billings in excess of costs and estimated earnings	(43,022		)	(24,978		)
Total	$	51,023		$	55,021

Costs and estimated earnings in excess of billings represent work performed that could not be billed either due to contract stipulations or the required contractual documentation has not been finalized. Substantially all unbilled amounts are expected to be billed and collected within one year.

Inventories

Inventories are summarized as follows at December 31 (in thousands):



	2014		2013
Raw materials and supplies	$	22,807	$	19,680
Work-in-process	13,179		8,217
Finished products	9,692		12,518
Construction materials	13,514		18,353
Total	$	59,192	$	58,768

Property, Plant and Equipment

Property, plant and equipment consisted of the following at December 31 (in thousands):



	Estimated Useful Lives (Years)			2014⁽¹⁾			2013
Land and land improvements				$	12,021		$	11,964
Buildings and improvements	5	—	40	62,548			63,870
Machinery and equipment	4	—	10	185,003			185,307
Furniture and fixtures	3	—	10	27,115			25,848
Autos and trucks	3	—	10	51,635			52,145
Construction in progress				15,400			31,012
Subtotal				353,722			370,146
Less – Accumulated depreciation				(185,509		)	(187,843		)
Total				$	168,213		$	182,303

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⁽¹⁾	During the third quarter of 2014, the Company recorded asset impairments of $11.9 million related to the 2014 Restructuring Plan (see Notes 2 and 3).

Depreciation expense was $30.2 million, $28.0 million and $27.1 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Accrued Expenses

Accrued expenses consisted of the following at December 31 (in thousands):



	2014		2013
Vendor and other accrued expenses	$	49,499	$	51,278
Estimated casualty and healthcare liabilities	17,780		13,775
Job costs	13,718		13,843
Accrued compensation	21,033		15,942
Income tax payable and deferred income taxes	9,587		10,628
Total	$	111,617	$	105,466