Accounts Receivable, Net of Allowance

9 Months Ended

Sep. 30, 2016

Receivables [Abstract]

Accounts Receivable, Net of Allowance

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):

	September 30, 2016			December 31, 2015
Contract billings	$	559.3		$	437.3
Retainage	224.9			148.8
Costs and earnings in excess of billings	440.1			332.7
Accounts receivable, gross	$	1,224.3		$	918.8
Less allowance for doubtful accounts	(8.3		)	(7.7		)
Accounts receivable, net	$	1,216.0		$	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 September 30, 2016 and 2015 totaled $0.4 million and $1.4 million, respectively, and for the nine month periods ended September 30, 2016 and 2015, totaled $2.0 million and $2.2 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. Related discount charges are included within interest expense.