Annual report pursuant to Section 13 and 15(d)

Contracts in Progress (Tables)

v3.22.0.1
Contracts in Progress (Tables)
 12 Months Ended
Dec. 31, 2021
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, 2021 June 30, 2021 June 30, 2020
Costs incurred on contracts (from inception to completion) $ 199.4  $ 185.8  $ 152.5 
Estimated earnings 125.5  133.2  108.9 
Contracts in progress 324.9  319.0  261.4 
Less: billings to date (281.8) (261.9) (209.8)
Less: write-offs —  (2.7) — 
$ 43.1  $ 54.4  $ 51.6 
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 balance sheets under the following captions (in millions):
Successor Predecessor
December 31, 2021 June 30, 2021 June 30, 2020
Costs and estimated earnings in excess of billings on uncompleted contracts – current $ 56.3  $ 57.2  $ 59.5 
Costs and estimated earnings in excess of billings on uncompleted contracts – noncurrent (1)
6.5  8.1  — 
Billings in excess of costs and estimated earnings on uncompleted contracts – current (2)
(17.6) (8.0) (8.0)
Billings in excess of costs and estimated earnings on uncompleted contracts – noncurrent (3)
(2.1) (2.9) — 
$ 43.1  $ 54.4  $ 51.5 
(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.