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COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS | 12 Months Ended
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Jan. 31, 2018
COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS |
COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS | NOTE 7 — COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS The table below sets forth the aggregate amounts of costs charged to and earnings accrued on uncompleted long-term contracts compared with the billings on those contracts through January 31, 2018 and 2017.
|  | 2018 |  | 2017 |
Costs charged to uncompleted contracts |  | $ | 1,184,891 |  | $ | 485,629 |
Estimated accrued earnings |  | 176,171 |  | 78,708 |
|  | 1,361,062 |  | 564,337 |
Less - billings to date |  | 1,464,563 |  | 770,386 |
|  | $ | (103,501 | ) | $ | (206,049 | )
Amounts above are included in the accompanying consolidated balance sheets under the following captions:
|  | 2018 |  | 2017 |
Costs and estimated earnings in excess of billings |  | $ | 4,887 |  | $ | 3,192 |
Billings in excess of costs and estimated earnings |  | 108,388 |  | 209,241 |
|  | $ | (103,501 | ) | $ | (206,049 | )
Costs charged to contracts include amounts billed to the Company for delivered goods and services where payments have been retained from subcontractors and suppliers. Retained amounts as of January 31, 2018 and January 31, 2017, which were included in the Company’s balance of accounts payable as of those dates, totaled $38.7 million and $17.2 million, respectively. Generally, such amounts are expected to be paid prior to the completion of the applicable project.

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- Definition The entire disclosure for long-term contracts or programs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 35 -URI http://asc.fasb.org/subtopic&trid=2197326 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -URI http://asc.fasb.org/topic&trid=2145070 + Details
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