Basis of Presentation and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

After consolidation by the Company, the total carrying amounts of Cash, cash equivalents and restricted cash, Other accrued liabilities, and Other noncurrent liabilities on the unaudited condensed consolidated balance sheets attributable to the Captive Cell were as follows as of:


	March 31, 2026		December 31, 2025
	(In thousands)
Cash, cash equivalents and restricted cash	$	18,339	$	17,828
Other accrued liabilities	2,543		2,381
Other noncurrent liabilities	$	6,018	$	6,326

Summary of Receivables, Net

Receivables consist primarily of trade receivables from the sale of goods and services, net of the allowance for expected credit losses. The Company’s trade receivables are all due in 12 months or less. Receivables, net was summarized as follows as of:


	March 31, 2026		December 31, 2025
	(In thousands)
Trade receivables:
Completed contracts	$	32,777	$	40,202
Contracts in progress	749,220		728,808

Other	4,691		6,100
Receivables, gross	786,688		775,110
Less: allowance for expected credit losses	(5,125)		(5,282)
Receivables, net	$	781,563	$	769,828

Summary of Receivables, Net Activity

The following table presents the opening and closing balances of Receivables, net as of:


	March 31, 2026		December 31, 2025
	(In thousands)
Balance at beginning of period	$	769,828	$	590,028
Net change during period	11,735		179,800
Balance at end of period	$	781,563	$	769,828

Schedule of Receivables Current Excepted Credit Losses

Details of the Company's allowance for expected credit losses, disclosed within Receivables, net, for the respective periods presented below, were as follows:


	Three months ended March 31,
			2026		2025
		(In thousands)
Balance at beginning of period			$	5,282	$	7,097
Net credit loss reversals			(24)		(1,729)
Less: write-offs charged against the allowance			(133)		(2,304)

Balance at end of period			$	5,125	$	3,064

Schedule of Inventory, Net

Inventories, net were summarized as follows as of:


	March 31, 2026		December 31, 2025
	(In thousands)
Materials and supplies	$	15,604	$	15,571

Work in process	4,162		3,230
Finished goods	28,799		27,057
Less: valuation allowance	(587)		(587)
Inventories, net	$	47,978	$	45,271

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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