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Customer Contracts | 12 Months Ended
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Jun. 30, 2013
Contractors [Abstract] |
Customer Contracts | Customer Contracts Contract terms of the Company’s construction contracts generally provide for progress billings based on project milestones. The excess of costs incurred and estimated earnings over amounts billed on uncompleted contracts is reported as a current asset. The excess of amounts billed over costs incurred and estimated earnings on uncompleted contracts is reported as a current liability. Gross and net amounts on uncompleted contracts are as follows:
|  | June 30, 2013 |  | June 30, 2012
|  | (In thousands)
Costs and estimated earnings recognized on uncompleted contracts |  | $ | 802,588 |  |  | $ | 774,749 |
Billings on uncompleted contracts |  | 791,663 |  |  | 736,480 |
|  | $ | 10,925 |  |  | $ | 38,269 |
Shown on balance sheet as: |  |  |  |
Costs and estimated earnings in excess of billings on uncompleted contracts |  | $ | 73,773 |  |  | $ | 68,562 |
Billings on uncompleted contracts in excess of costs and estimated earnings |  | 62,848 |  |  | 30,293 |
|  | $ | 10,925 |  |  | $ | 38,269 |
SME Receivables The Company continues to pursue collection of a receivable acquired in connection with the purchase of S.M. Electric Company, Inc. in February 2009. The recorded values at June 30, 2013 and June 30, 2012 include $0.7 million in claim receivables, which represents the Company's best estimate of the amount to be collected under the claim, and an additional $2.9 million for amounts due under the related contract. Recovering the remaining receivables will require mediation or litigation and the ultimate amount realized may be significantly different than the recorded amounts, which could result in a material adjustment to future earnings. Western Canada Aboveground Storage Tank Project During the twelve months ended June 30, 2013, our gross profit was materially impacted by a $3.7 million charge resulting from a change in estimate for a project to construct aboveground storage tanks in western Canada. The charge was primarily driven by changes in facts and circumstances that caused labor productivity to be lower than expected and direct employee costs to be higher than expected. The change in estimate resulted in a $2.4 million decrease in our net income and a $0.10 decrease in our diluted earnings per common share during the twelve months ended June 30, 2013. This project was completed in the fourth quarter of fiscal 2013. Legal Settlement On May 3, 2013, the Company settled a customer dispute related to work performed in 2002 and 2003. The settlement amount of $1.5 million, which was paid in the fourth quarter of fiscal 2013, exceeded the amount previously accrued, resulting in a charge of $1.0 million. Other The western Canada aboveground storage tank project and legal settlement discussed above are the only changes in estimates considered material to our results of operations during the periods presented herein.

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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 AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Chapter 11 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section A -Chapter 11 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3(c)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 275 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6471736&loc=d3e54651-109401 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 35 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6407836&loc=d3e58033-111643 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(d)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 405 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6471944&loc=d3e56414-109416 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3, 6 -Article 5 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 45 -Paragraph 12, 15, 16 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 81-1 -Paragraph 94 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section C -Chapter 11 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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