4. Fabrication Contracts
Costs, estimated earnings and billings on uncompleted contracts consisted of the following (in thousands):
|
|
|
December 31, |
| ||||
|
|
|
2013 |
|
2012 |
| ||
|
Costs incurred on uncompleted contracts |
|
$ |
713,889 |
|
$ |
1,133,835 |
|
|
Estimated earnings |
|
109,494 |
|
195,742 |
| ||
|
|
|
823,383 |
|
1,329,577 |
| ||
|
Less — billings to date |
|
(794,133 |
) |
(1,334,730 |
) | ||
|
|
|
$ |
29,250 |
|
$ |
(5,153 |
) |
Costs, estimated earnings and billings on uncompleted contracts are presented in the accompanying financial statements as follows (in thousands):
|
|
|
December 31, |
| ||||
|
|
|
2013 |
|
2012 |
| ||
|
Costs and estimated earnings in excess of billings on uncompleted contracts |
|
$ |
117,175 |
|
$ |
159,098 |
|
|
Billings on uncompleted contracts in excess of costs and estimated earnings |
|
(87,925 |
) |
(164,251 |
) | ||
|
|
|
$ |
29,250 |
|
$ |
(5,153 |
) |