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Uncompleted Contracts (Notes)
 3 Months Ended
Sep. 30, 2014
Disclosure Customer Contracts Additional Information [Abstract]  
Uncompleted Contracts
Uncompleted 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 recognized on uncompleted contracts is reported as a current liability. Gross and net amounts on uncompleted contracts are as follows:
 
 
September 30,
2014
 
June 30,
2014
 
(in thousands)
Costs incurred and estimated earnings recognized on uncompleted contracts
$
1,659,874

 
$
1,435,242

Billings on uncompleted contracts
1,673,763

 
1,470,674

 
$
(13,889
)
 
$
(35,432
)
Shown on balance sheet as:
 
 
 
Costs and estimated earnings in excess of billings on uncompleted contracts
$
89,819

 
$
73,008

Billings on uncompleted contracts in excess of costs and estimated earnings
103,708

 
108,440

 
$
(13,889
)
 
$
(35,432
)

Progress billings in accounts receivable at September 30, 2014 and June 30, 2014 included retentions to be collected within one year of $29.7 million and $30.0 million, respectively. Contract retentions collectible beyond one year are included in Other Assets on the Condensed Consolidated Balance Sheet and totaled $2.3 million at September 30, 2014 and $4.3 million at June 30, 2014.
 
SME Receivables
The Company continues to pursue collection of a certain receivable acquired in connection with the purchase of S.M. Electric Company, Inc. in February 2009. The recorded values at September 30, 2014 include $0.7 million in claim receivables, which represents the Company’s best estimate of the amount to be collected under a 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.
Other
In the three months ended September 30, 2014, our results of operations were materially impacted by a charge resulting from a change in estimate related to a power generation facility project associated with our Joint Venture, as described in Note 2 - Acquisitions. The charge resulted in a reduction to operating income of $3.3 million and a reduction of $1.3 million to net income attributable to Matrix Service Company. The charge reflects management's best estimate of the total contract revenues to be recognized and total costs at completion.