Balance Sheet Details

12 Months Ended

Dec. 29, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The detail of certain assets in the consolidated balance sheets consists of the following:

Cash and cash equivalents

The Company’s cash equivalents consist of overnight cash sweep accounts that are invested on a daily basis. Cash and cash equivalents at December 29, 2019 and December 30, 2018 were $172.6 million and $182.7 million, respectively, and approximated their fair value.

Accounts receivable, net and Unbilled Receivables, net

Receivables including amounts due under long-term contracts are summarized as follows (in millions):



	December 29, 2019			December 30, 2018
Billed, current	$	86.6		$	66.5
Unbilled, current	179.7			173.2
Total current accounts receivable	266.3			239.7
Allowance for doubtful accounts	(1.9		)	(2.3		)
Total accounts receivable and unbilled receivables, net	$	264.4		$	237.4

Substantially all accounts receivable at December 29, 2019, are expected to be collected in 2020. The Company does not believe it has significant exposure to credit risk, as accounts receivable and the related unbilled amounts are primarily from contracts associated with the U.S. Government.

U.S. Government contract receivables where the Company is the prime contractor included in accounts receivable, net (in millions):



	December 29, 2019		December 30, 2018
Billed	$	16.6	$	16.5
Unbilled	86.4		83.1
Total U.S. Government contract receivables	$	103.0	$	99.6

Inventoried costs, net of progress payments (in millions):



	December 29, 2019		December 30, 2018
Raw materials	$	39.1	$	34.7
Work in process	20.3		10.3
Finished goods	1.7		1.8
Total inventoried costs	$	61.1	$	46.8

Property, plant and equipment, net (in millions)



	December 29, 2019			December 30, 2018
Finance lease right of use assets	$	39.6		$	—
Land and buildings	$	12.2		$	11.9
Computer equipment and software	32.7			28.3
Machinery and equipment	78.7			56.8
Furniture and office equipment	7.1			6.3
Leasehold improvements	12.3			10.9
Construction in progress	16.0			21.5
Property and equipment	198.6			135.7
Accumulated depreciation and amortization	(81.7		)	(68.6		)
Total property and equipment, net	$	116.9		$	67.1

Depreciation expense was $16.0 million, $12.0 million and $11.8 million for the years ended December 29, 2019, December 30, 2018, and December 31, 2017, respectively.