ACCOUNTS RECEIVABLE

3 Months Ended

Apr. 30, 2016

ACCOUNTS RECEIVABLE.

ACCOUNTS RECEIVABLE

NOTE 5 — ACCOUNTS RECEIVABLE

Amounts retained by project owners under construction contracts and included in accounts receivable at April 30 and January 31, 2016 were $48.6 million and $44.6 million, respectively (see also Note 14). Such retainage amounts represent funds withheld by construction project owners until a defined phase of a contract or project has been completed and accepted by the project owner. Retention amounts and the length of retention periods may vary. Much of the amount outstanding as of April 30, 2016 should be collected by the end of the current fiscal year. Retainage amounts related to active contracts are classified as current assets regardless of the term of the applicable contract and amounts are generally collected by the completion of the applicable contract.

The amount of the allowance for uncollectible accounts at April 30 and January 31, 2016 was not material. There were no provisions for trade accounts receivable losses recorded during the three months ended April 30, 2016 or 2015.