Accounts Receivable, Net of Allowance

6 Months Ended

Jun. 30, 2013

Receivables [Abstract]

Accounts Receivable, Net of Allowance

Accounts Receivable, Net of Allowance

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

	June 30, 2013			December 31, 2012
Contract billings	$	579.6		$	522.0
Retainage	113.5			113.5
Costs and earnings in excess of billings	435.9			253.0
Accounts receivable, gross	$	1,129.0		$	888.5
Less allowance for doubtful accounts	(13.0		)	(11.3		)
Accounts receivable, net	$	1,116.0		$	877.2

Accounts receivable, net, is classified as a current asset in the condensed unaudited consolidated financial statements. 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 in other long-term assets. The Company maintains an allowance for doubtful accounts for estimated losses, both for specific customers and as a reserve against other balances, resulting from the inability of customers to make required payments.