COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS |
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COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS |
NOTE 7 — COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS
The table below sets forth the aggregate amounts of costs charged to and earnings accrued on uncompleted contracts compared with the billings on those contracts through January 31, 2017 and 2016.
Amounts above are included in the accompanying consolidated balance sheets under the following captions:
Contract costs charged as of January 31, 2017 included amounts billed to the Company for delivered goods and services totaling $17.2 million where payments have been retained; retained amounts were included in the Company’s accounts payable as of January 31, 2017. Generally, such amounts are expected to be paid prior to the completion of the applicable project. |