Unbilled Receivables, Net

12 Months Ended

Dec. 31, 2025

Unbilled Receivables, Net [Abstract]

Unbilled Receivables Disclosure [Text Block]

4. 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, 2025 are expected to be billed and collected in 2026. 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	2025		2024
Due from U.S. government (1)
Unbilled receivables	$	23,730	$	22,871
Progress and performance-based payments received	(17,674)		(17,300)
Total due from U.S. government	6,056		5,571
Due from international and other customers
Unbilled receivables	1,054		1,108
Progress and performance-based payments received	(557)		(757)
Total due from international and other customers	497		351
Unbilled receivables, net of progress and performance-based payments received	6,553		5,922
Allowance for expected credit losses	(9)		(14)
Unbilled receivables, net	$	6,544	$	5,908

(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.