Quarterly report pursuant to Section 13 or 15(d)

Contracts in Progress (Tables)

v3.23.3
Contracts in Progress (Tables)
 9 Months Ended
Sep. 30, 2023
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, 2023 December 31, 2022
Costs incurred on contracts (from inception to completion) $ 301.7  $ 249.6 
Estimated earnings 178.7  163.1 
Contracts in progress 480.4  412.7 
Less: billings to date (435.3) (371.8)
$ 45.1  $ 40.9 
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):
September 30, 2023 December 31, 2022
Costs and estimated earnings in excess of billings on uncompleted contracts – current $ 72.7  $ 50.0 
Costs and estimated earnings in excess of billings on uncompleted contracts – non-current (1)
10.2  17.3 
Billings in excess of costs and estimated earnings on uncompleted contracts – current (2)
(33.0) (25.5)
Billings in excess of costs and estimated earnings on uncompleted contracts – non-current (3)
(4.8) (0.9)
$ 45.1  $ 40.9 
(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.