Quarterly report pursuant to Section 13 or 15(d)

Contracts in Progress (Tables)

v3.24.3
Contracts in Progress (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Cost and Billings on Uncompleted Construction Type Long Term Contracts or Programs
Costs and billings on uncompleted construction-type contracts consist of the following (in millions):
September 30, 2024 December 31, 2023
Costs incurred on contracts (from inception to completion) $ 405.1  $ 324.5 
Estimated earnings 244.4  208.7 
Contracts in progress 649.5  533.2 
Less: billings to date (586.2) (511.3)
$ 63.3  $ 21.9 
Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable
The carrying amounts related to uncompleted construction-type contracts are included in the accompanying unaudited Condensed Consolidated Balance Sheets under the following captions (in millions):
September 30, 2024 December 31, 2023
Costs and estimated earnings in excess of billings on uncompleted contracts – current $ 70.3  $ 48.7 
Costs and estimated earnings in excess of billings on uncompleted contracts – non-current (1)
22.4  18.2 
Billings in excess of costs and estimated earnings on uncompleted contracts – current (2)
(28.6) (41.1)
Billings in excess of costs and estimated earnings on uncompleted contracts – non-current (3)
(0.8) (3.9)
$ 63.3  $ 21.9 
(1)Included in other assets within the unaudited Condensed Consolidated Balance Sheets.
(2)Included in deferred contract revenue – current within the unaudited Condensed Consolidated Balance Sheets.
(3)Included in other liabilities within the unaudited Condensed Consolidated Balance Sheets.