ACCOUNTS RECEIVABLE, NET
Unbilled amounts represent sales for which billings have not been presented to customers by period-end. These amounts are usually billed and collected within one year. Substantially all accounts receivable at December 31, 2013, are expected to be collected in 2014. The company does not believe it has significant exposure to credit risk, as accounts receivable and the related unbilled amounts are primarily from contracts where the U.S. Government is the primary customer.
Accounts receivable consisted of the following:
|
| | | | | | | | |
| | December 31 |
$ in millions | | 2013 | | 2012 |
Due from U.S. Government | | | | |
Billed | |
| $ 596 |
| |
| $ 783 |
|
Unbilled | | 5,801 |
| | 5,284 |
|
Progress and performance-based payments received | | (4,385 | ) | | (3,907 | ) |
| | 2,012 |
| | 2,160 |
|
Due from Other Customers (inclusive of foreign military sales) | | | | |
Billed | | 296 |
| | 325 |
|
Unbilled | | 2,830 |
| | 1,992 |
|
Progress and performance-based payments received | | (2,384 | ) | | (1,559 | ) |
| | 742 |
| | 758 |
|
Total accounts receivable | | 2,754 |
| | 2,918 |
|
Allowance for doubtful accounts | | (69 | ) | | (60 | ) |
Total accounts receivable, net | |
| $2,685 |
| |
| $2,858 |
|
