Accounts Receivable, Net of Allowance

3 Months Ended

Mar. 31, 2016

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):



	March 31, 2016			December 31, 2015
Contract billings	$	478.9		$	437.3
Retainage	145.5			148.8
Costs and earnings in excess of billings	354.0			332.7
Accounts receivable, gross	$	978.4		$	918.8
Less allowance for doubtful accounts	(7.5		)	(7.7		)
Accounts receivable, net	$	970.9		$	911.1

Retainage, which has been billed, but is not due until the Company’s 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. Provisions for doubtful accounts for the three month periods ended March 31, 2016 and 2015 totaled $0.4 million and $0.5 million, respectively.

In the ordinary course of business, the Company has entered into certain non-recourse financing arrangements, under which receivables are purchased by the customer’s bank for a nominal fee. These arrangements improve the collection cycle time of the related receivables. The discount charges, which are included within interest expense in the consolidated statements of operations, were immaterial for the three month periods ended March 31, 2016 and 2015.