Graham Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

The Company and Its Accounting Policies - Summary of Costs and Estimated Earnings on Contracts (Detail)

The Company and Its Accounting Policies - Summary of Costs and Estimated Earnings on Contracts (Detail) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Accounting Policies [Abstract]
Costs incurred since inception on contracts in progress	$ 42,019	$ 37,632
Estimated earnings since inception on contracts in progress	10,208	12,311
Costs and estimated earnings	52,227	49,943
Less billings to date	57,489	49,485
Net (over) under billings	(5,262)
Net (over) under billings		$ 458

- Definition

Liability attributable to (i) billings in excess of costs under the percentage of completion contract accounting method representing the difference between contractually invoiced amounts (billings) and revenue recognized based, for example, on costs incurred to estimated total costs at period end or (ii) contractually invoiced amounts (billings) in excess of costs incurred and accumulated under the completed contract accounting method that are expected to be realized within one year or one operating cycle, whichever is longer, from the reporting date.

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