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Uncompleted Contracts (Notes)
 6 Months Ended
Dec. 31, 2014
Disclosure Customer Contracts Additional Information [Abstract]  
Uncompleted Contracts
Uncompleted Contracts
Contract terms of the Company’s construction contracts generally provide for progress billings based on project milestones. The excess of costs incurred and estimated earnings over amounts billed on uncompleted contracts is reported as a current asset. The excess of amounts billed over costs incurred and estimated earnings recognized on uncompleted contracts is reported as a current liability. Gross and net amounts on uncompleted contracts are as follows: 
 
December 31,
2014
 
June 30,
2014
 
(in thousands)
Costs incurred and estimated earnings recognized on uncompleted contracts
$
1,649,633

 
$
1,435,242

Billings on uncompleted contracts
1,707,674

 
1,470,674

 
$
(58,041
)
 
$
(35,432
)
Shown on balance sheet as:
 
 
 
Costs and estimated earnings in excess of billings on uncompleted contracts
$
69,573

 
$
73,008

Billings on uncompleted contracts in excess of costs and estimated earnings
127,614

 
108,440

 
$
(58,041
)
 
$
(35,432
)

Progress billings in accounts receivable at December 31, 2014 and June 30, 2014 included retentions to be collected within one year of $28.2 million and $30.0 million, respectively. Contract retentions collectible beyond one year are included in Other Assets on the Condensed Consolidated Balance Sheet and totaled $2.5 million at December 31, 2014 and $4.3 million at June 30, 2014.
 
Other
In the three month and six months ended December 31, 2014, our results of operations were materially impacted by charges resulting from a change in estimate related to an acquired EPC joint venture project in the Electrical Infrastructure segment, as described in Note 2 - Acquisitions. The charges resulted in a reduction to operating income of $22.9 million and $26.2 million and an after-tax reduction of $7.9 million and $9.0 million to net income attributable to Matrix Service Company for the three and six months ended December 31, 2014, respectively. At December 31, 2014, the project was approximately 74% complete. The Company expects the project to be completed by the end of the current fiscal year. The change in estimate was driven primarily by delays, technical impacts, and additional work that has compressed the Company's delivery schedule obligations. The charges reflect management's best estimate of the total contract revenues to be recognized and total costs at completion.
During the second quarter of fiscal 2014, our results of operations were materially impacted by a charge resulting from a change in estimate on an aboveground storage tank project. The charge resulted in a $4.4 million and $4.0 million decrease in operating income for the three and six months ended December 31, 2013, respectively.