Contract Advances

6 Months Ended

Jul. 31, 2023

Contract Advances

Contract Advances

6. Contract Advances

The Company receives advances under certain of its contracts for products sold by Eagle.  Those advances are considered contract liabilities with revenues recorded upon delivery of promised goods to customers.  These advances are included in Other Accrued Expenses on the Company’s consolidated balance sheet.  The following is a roll-forward of the advances from January 31, 2023 through July 31, 2023 (in $000s):

Contract liability – January 31, 2023	$	1,627
Increases to contract liability		271
Decreases to contract liability		(1,672	)
Contract liability – July 31, 2023	$	226