Annual report pursuant to Section 13 and 15(d)

Contracts in Progress (Tables)

v3.22.4
Contracts in Progress (Tables)
 12 Months Ended
Dec. 31, 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 Predecessor
December 31, 2022 December 31, 2021 June 30, 2021
Costs incurred on contracts (from inception to completion) $ 249.6  $ 199.4  $ 185.8 
Estimated earnings 163.1  125.5  133.2 
Contracts in progress 412.7  324.9  319.0 
Less: billings to date (371.8) (281.8) (261.9)
Less: write-offs —  —  (2.7)
$ 40.9  $ 43.1  $ 54.4 
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 consolidated balance sheets under the following captions (in millions):
Successor Predecessor
December 31, 2022 December 31, 2021 June 30, 2021
Costs and estimated earnings in excess of billings on uncompleted contracts – current $ 50.0  $ 56.3  $ 57.2 
Costs and estimated earnings in excess of billings on uncompleted contracts – non-current (1)
17.3  6.5  8.1 
Billings in excess of costs and estimated earnings on uncompleted contracts – current (2)
(25.5) (17.6) (8.0)
Billings in excess of costs and estimated earnings on uncompleted contracts – non-current (3)
(0.9) (2.1) (2.9)
$ 40.9  $ 43.1  $ 54.4 
(1)Included in other assets within the consolidated balance sheets.
(2)Included in deferred contract revenue – current within the consolidated balance sheets.
(3)Included in other liabilities within the consolidated balance sheets.