Accounts Receivable, Net of Allowance

12 Months Ended

Dec. 31, 2017

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):

	December 31,
	2017			2016
Contract billings	$	683.9		$	564.2
Retainage	323.1			268.6
Costs and earnings in excess of billings	599.2			331.6
Accounts receivable, gross	$	1,606.2		$	1,164.4
Less allowance for doubtful accounts	(8.2		)	(8.4		)
Accounts receivable, net	$	1,598.0		$	1,156.0

Retainage, which has been billed, but is not due until completion of performance and acceptance by customers, is expected to be collected within one year. Receivables expected to be collected beyond one year are recorded within other long-term assets.

Activity in the allowance for doubtful accounts for the periods indicated is as follows (in millions):

	For the Years Ended December 31,
	2017			2016
Allowance for doubtful accounts at beginning of year	$	8.4		$	7.7
Provision for doubtful accounts	2.6			2.9
Amounts charged against the allowance	(2.8		)	(2.2		)
Allowance for doubtful accounts at end of year	$	8.2		$	8.4

The Company is party to non-recourse financing arrangements in the ordinary course of business, under which certain receivables are settled with the customer’s bank in return for a nominal fee. These arrangements, under which amounts can vary based on levels of activity and changes in customer payment terms, improve the collection cycle time of the related receivables. Cash collected from this arrangement is reflected within cash provided by operating activities in the consolidated statements of cash flows. The discount charge, which is included within interest expense, net, totaled approximately $6.0 million, $2.7 million and $1.6 million for the years ended December 31, 2017, 2016 and 2015, respectively.