Costs and Estimated Earnings on Uncompleted Contracts

12 Months Ended

Jan. 31, 2013

Costs and Estimated Earnings on Uncompleted Contracts

(4) Costs and Estimated Earnings on Uncompleted Contracts

Costs and estimated earnings on uncompleted contracts consisted of the following:

	As of January 31,
(in thousands)	2013		2012
Cost incurred on uncompleted contracts	$	1,410,722	$	1,286,453
Estimated earnings		351,126		291,258
		1,761,848		1,577,711
Less: Billing to date		1,689,082		1,502,330
Total	$	72,766	$	75,381

Included in accompanying balance sheets under the following captions:
Costs and estimated earnings in excess
of billing on uncompleted contracts	$	101,960		$	107,295
Other Assets (non-current retainage)		5,675
Billings in excess of costs and estimated
earnings on uncompleted contracts		(34,869	)		(31,914	)
Total	$	72,766		$	75,381

The Company bills its customers based on specific contract terms. Substantially all billed amounts are collectible within one year. As of January 31, 2013 and 2012, the Company held unbilled contract retainage amounts of $50,533,000 and $25,134,000, respectively.