Accounts Receivable, Net of Allowance

12 Months Ended

Dec. 31, 2016

Receivables [Abstract]

Accounts Receivable, Net of Allowance

Note 5 - Accounts Receivable, Net of Allowance

The following table provides details of accounts receivable, net of allowance, as of the dates indicated (in millions):

	December 31,
	2016			2015
Contract billings	$	564.2		$	437.3
Retainage	268.6			148.8
Costs and earnings in excess of billings	331.6			332.7
Accounts receivable, gross	$	1,164.4		$	918.8
Less allowance for doubtful accounts	(8.4		)	(7.7		)
Accounts receivable, net	$	1,156.0		$	911.1

Retainage, which has been billed, but is not due until completion of performance and acceptance by customers, is generally expected to be collected within one year. Receivables expected to be collected beyond one year are recorded within other long-term assets.

Activity in the allowance for doubtful accounts for the periods indicated is as follows (in millions):

	For the Years Ended December 31,
	2016			2015
Allowance for doubtful accounts at beginning of year	$	7.7		$	13.9
Provision for doubtful accounts	2.9			2.1
Amounts charged against the allowance	(2.2		)	(8.3		)
Allowance for doubtful accounts at end of year	$	8.4		$	7.7

The Company is party to a non-recourse financing arrangement, under which certain receivables are purchased by a customer’s bank for a nominal fee. This arrangement, under which amounts can vary based on levels of activity, tends to improve the collection cycle time of the related receivables. For the years ended December 31, 2016, 2015 and 2014, the effect of this arrangement, net of related changes in customer payment terms, amounted to an improvement in cash collections of approximately $60 million, $12 million and $70 million respectively. Cash collected from this arrangement is reflected within cash provided by operating activities in the consolidated statements of cash flows. The discount charge, which is included within interest expense in the consolidated statements of operations, totaled $2.7 million and $1.6 million for the years ended December 31, 2016 and 2015, respectively. For year ended December 31, 2014, the discount charge was de minimis.