Uncompleted Contracts (Notes)

3 Months Ended

Sep. 30, 2017

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:

	September 30, 2017		June 30, 2017
	(in thousands)
Costs incurred and estimated earnings recognized on uncompleted contracts	$	1,451,623	$	1,919,054
Billings on uncompleted contracts	1,451,229		1,903,001
	$	394	$	16,053
Shown in balance sheet as:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	65,953	$	91,180
Billings on uncompleted contracts in excess of costs and estimated earnings	65,559		75,127
	$	394	$	16,053

Progress billings in accounts receivable at September 30, 2017 and June 30, 2017 included retentions to be collected within one year of $43.7 million and $54.3 million, respectively. Contract retentions collectible beyond one year are included in other assets in the condensed consolidated balance sheet and totaled $3.5 million as of September 30, 2017 and $1.9 million as of June 30, 2017.