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FWLT » Topics » Contracts in Process and Estimated Costs to Complete Long-term Contracts

These excerpts taken from the FWLT 8-K filed Dec 28, 2005.
Contracts in Process and Estimated Costs to Complete Long-term Contracts — In accordance with terms of long-term contracts, amounts recorded in contracts in process and estimated costs to complete long-term contracts may not be realized or paid, respectively, within a one-year period. In conformity with industry practice, however, the full amount of contracts in process and estimated costs to complete long-term contracts have been included in current assets and current liabilities, respectively.

Contracts in Process and Estimated Costs to Complete Long-term Contracts— In accordance with terms of long-term contracts, amounts recorded in contracts in process and estimated costs to complete long-term contracts may not be realized or paid, respectively, within a one-year period. In conformity with industry practice, however, the full amount of contracts in process and estimated costs to complete long-term contracts have been included in current assets and current liabilities, respectively.

Inventories — Inventories, principally materials and supplies, are stated at the lower of cost or market, determined primarily on the average-cost method.

This excerpt taken from the FWLT 10-Q filed Aug 10, 2005.
Contracts in Process and Estimated Costs to Complete Long-term Contracts — In accordance with terms of long-term contracts, amounts recorded in contracts in process and estimated costs to complete long-term contracts may not be realized or paid, respectively, within a one-year period. In conformity with industry practice, however, the full amount of contracts in process and estimated costs to complete long-term contracts has been included in current assets and current liabilities, respectively.

          

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Dec 28, 2005
10-Q
Aug 10, 2005

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