XML 24 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
Accounts Receivable and Inventories
 6 Months Ended
Jun. 30, 2016
Accounts Receivable And Inventories  
Accounts Receivable and Inventories
Accounts Receivable and Inventories
Accounts receivable consist of the following:
(In thousands)
 
June 30
2016
 
December 31
2015
Trade accounts receivable
 
$
278,424

 
$
280,526

Less: Allowance for doubtful accounts
 
(13,183
)
 
(25,649
)
Trade accounts receivable, net
 
$
265,241

 
$
254,877

 
 
 
 
 
Other receivables (a)
 
$
16,875

 
$
30,395

(a) Other receivables include insurance claim receivables, employee receivables, tax claim receivables, receivables from affiliates and other miscellaneous receivables not included in Trade accounts receivable, net. 
The decrease in Allowance for doubtful accounts in 2016 is due to the write-off of previously reserved accounts receivable balances.
The provision for doubtful accounts related to trade accounts receivable was as follows:
 
 
Three Months Ended
 
Six Months Ended
 
 
June 30
 
June 30
(In thousands)
 
2016
 
2015
 
2016
 
2015
Provision for doubtful accounts related to trade accounts receivable
 
$
323

 
$
414

 
$
177

 
$
610







Inventories consist of the following:
(In thousands)
 
June 30
2016
 
December 31
2015
Finished goods
 
$
38,207

 
$
32,586

Work-in-process
 
29,349

 
30,959

Contracts-in-process
 
44,335

 
55,786

Raw materials and purchased parts
 
69,975

 
70,755

Stores and supplies
 
26,377

 
26,881

Inventories
 
$
208,243

 
$
216,967



Contracts-in-process consist of the following:
(In thousands)
 
June 30
2016
 
December 31
2015
Contract costs accumulated to date
 
78,922

 
55,786

Estimated loss provisions for contracts-in-process (a)
 
(34,587
)
 
—

Contracts-in-process
 
44,335

 
55,786

(a)
To the extent that the estimated loss provision exceeds accumulated contract costs it is included in the caption Other current liabilities on the Condensed Consolidated Balance Sheets. At June 30, 2016 this amount totaled $5.5 million.

At June 30, 2016 and December 31, 2015, the Company has $84.7 million and $82.7 million, of customer advances related to contracts-in-process. These amounts are included in the caption Advances on contracts and other customer advances on the Condensed Consolidated Balance Sheets.