Note F — Receivables

Receivables are summarized below:



	March 30, 2018			June 30, 2017

	(In millions)
Accounts receivable	$	463		$	368
Unbilled costs and accrued earnings on cost-plus contracts	284			258
	747			626
Less allowances for collection losses	(4		)	(3		)
	$	743		$	623

We have a receivables sale agreement (“RSA”) with a third-party financial institution that permits us to sell, on a non-recourse basis, up to $50 million of outstanding receivables at any given time. From time to time, we have sold certain customer receivables under the RSA, which we continue to service and collect on behalf of the third-party financial institution. Receivables sold pursuant to the RSA meet the requirements for sales accounting under ASC 860, Transfers and Servicing, and accordingly, are derecognized from our Condensed Consolidated Balance Sheet (Unaudited) at the time of sale. Outstanding accounts receivable sold pursuant to the RSA were not material as of March 30, 2018 and June 30, 2017.