ACCOUNTS RECEIVABLE	12 Months Ended
Jan. 31, 2025
ACCOUNTS RECEIVABLE
ACCOUNTS RECEIVABLE	NOTE 5 – ACCOUNTS RECEIVABLE Accounts receivable include amounts that have been billed and amounts that are billable to customers. As of January 31, 2025, there were billable amounts related to an APC UK overseas project in the total amount of $23.1 million, including the expected refund of the letter of credit draw identified in Note 2. The Company may extend credit to a customer without requiring tangible collateral based on an evaluation of the customer’s financial condition and other factors. Customer payments on other construction, fabrication, and field service contracts are generally due within 30 days of billing, depending on the negotiated terms of the corresponding contract. Exposure to losses on accounts and notes receivable is expected to differ due to the varying financial condition of each customer. The Company monitors its exposure to credit losses and may establish an allowance for credit losses based on management’s estimate of the loss that is expected to occur over the remaining life of the particular financial asset. The amount of the provision for credit losses for Fiscal 2025, Fiscal 2024 and Fiscal 2023 were insignificant. The allowance for credit losses was $1.9 million and $1.8 million as of January 31, 2025 and 2024, respectively.

ACCOUNTS RECEIVABLE

12 Months Ended

Jan. 31, 2025

NOTE 5 – ACCOUNTS RECEIVABLE

Accounts receivable include amounts that have been billed and amounts that are billable to customers. As of January 31, 2025, there were billable amounts related to an APC UK overseas project in the total amount of $23.1 million, including the expected refund of the letter of credit draw identified in Note 2.

The Company may extend credit to a customer without requiring tangible collateral based on an evaluation of the customer’s financial condition and other factors. Customer payments on other construction, fabrication, and field service contracts are generally due within 30 days of billing, depending on the negotiated terms of the corresponding contract. Exposure to losses on accounts and notes receivable is expected to differ due to the varying financial condition of each customer. The Company monitors its exposure to credit losses and may establish an allowance for credit losses based on management’s estimate of the loss that is expected to occur over the remaining life of the particular financial asset. The amount of the provision for credit losses for Fiscal 2025, Fiscal 2024 and Fiscal 2023 were insignificant. The allowance for credit losses was $1.9 million and $1.8 million as of January 31, 2025 and 2024, respectively.