Accounts Receivable, Net

12 Months Ended

Dec. 31, 2011

ACCOUNTS RECEIVABLE, NET [Abstract]

8. ACCOUNTS RECEIVABLE, NET

8. ACCOUNTS RECEIVABLE, NET

Unbilled amounts represent sales for which billings have not been presented to customers at period-end. These amounts are usually billed and collected within one year. Progress payments are received on a number of firm fixed-price contracts. Unbilled amounts are presented net of progress payments of $6.4 billion and $5.7 billion at December 31, 2011, and 2010, respectively.

Accounts receivables at December 31, 2011, are expected to be collected in 2012, except for $3 million due in 2013 and approximately $5 million due in 2014 and later.

The company does not believe it has significant exposure to credit risk as accounts receivable and the related unbilled amounts are primarily due from the U.S. Government.

Accounts receivable consisted of the following:

	December 31
$ in millions	2011				2010
Due From U.S. Government
Amounts billed		$	812			$	900
Recoverable costs and accrued profit on progress completed - unbilled			1,594				1,718
			2,406				2,618
Due From Other Customers
Amounts billed			249				280
Recoverable costs and accrued profit on progress completed - unbilled			363				458
			612				738
Total accounts receivable			3,018				3,356
Allowance for doubtful accounts			(54	)			(27	)
Total accounts receivable, net		$	2,964			$	3,329