Quarterly report pursuant to Section 13 or 15(d)

Contracts in Progress (Tables)

v3.22.2
Contracts in Progress (Tables)
 6 Months Ended
Jun. 30, 2022
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):
Successor
June 30, 2022 December 31, 2021
Costs incurred on contracts (from inception to completion) $ 197.2  $ 199.4 
Estimated earnings 129.0  125.5 
Contracts in progress 326.2  324.9 
Less: billings to date (267.8) (281.8)
$ 58.4  $ 43.1 
Schedule of Costs in Excess of Billings and Billings in Excess of Costs on Uncompleted Contracts
The carrying amounts related to uncompleted construction-type contracts are included in the accompanying Condensed Consolidated Balance Sheets under the following captions (in millions):
Successor
June 30, 2022 December 31, 2021
Costs and estimated earnings in excess of billings on uncompleted contracts – current $ 72.0  $ 56.3 
Costs and estimated earnings in excess of billings on uncompleted contracts – non-current (1)
3.8  6.5 
Billings in excess of costs and estimated earnings on uncompleted contracts – current (2)
(11.3) (17.6)
Billings in excess of costs and estimated earnings on uncompleted contracts – non-current (3)
(6.1) (2.1)
$ 58.4  $ 43.1 
(1)Included in other assets within the Condensed Consolidated Balance Sheets.
(2)Included in deferred contract revenue – current within the Condensed Consolidated Balance Sheets.
(3)Included in other liabilities within the Condensed Consolidated Balance Sheets.