Unbilled Receivables, Net

12 Months Ended

Dec. 31, 2023

Unbilled Receivables, Net [Abstract]

Unbilled Receivables Disclosure [Text Block]

5. UNBILLED RECEIVABLES, NET

Unbilled receivables, net represent revenue recognized under the cost-to-cost method that exceeds amounts billed to customers. A large majority of the company’s unbilled receivables at December 31, 2023 are expected to be billed and collected in 2024. Progress and performance-based payments are reflected as an offset to the related unbilled receivable balances.

Unbilled receivables, net consisted of the following:

	December 31
$ in millions	2023		2022
Due from U.S. government (1)
Unbilled receivables	$	23,655	$	23,304
Progress and performance-based payments received	(18,321)		(17,664)
Total due from U.S. government	5,334		5,640
Due from international and other customers
Unbilled receivables	1,720		1,822
Progress and performance-based payments received	(1,344)		(1,460)
Total due from international and other customers	376		362
Unbilled receivables, net of progress and performance-based payments received	5,710		6,002
Allowance for expected credit losses	(17)		(19)
Unbilled receivables, net	$	5,693	$	5,983

(1)Includes unbilled receivables due from the U.S. government associated with foreign military sales, which are contracted with and paid by the U.S. government.