ACCOUNTS RECEIVABLE

12 Months Ended

Sep. 30, 2015

NOTE 4—ACCOUNTS RECEIVABLE

The components of accounts receivable under long-term contracts are as follows (in thousands):

September 30,	2015			2014

U.S. Government Contracts:
Amounts billed	$	55,656		$	41,588
Recoverable costs and accrued profits on progress completed—not billed	63,676			66,657

	119,332			108,245
Commercial Customers:
Amounts billed	71,808			80,283
Recoverable costs and accrued profits on progress completed—not billed	191,961			191,417

	263,769			271,700

	383,101			379,945
Less unbilled amounts not currently due—commercial customers	(36,809		)	(15,870		)

	$	346,292		$	364,075

A portion of recoverable costs and accrued profits on progress completed is billable under progress or milestone payment provisions of the related contracts. The remainder of these amounts is billable upon delivery of products or furnishing of services, with an immaterial amount subject to retainage provisions of the contracts. It is anticipated that we will bill and collect substantially the entire unbilled portion of receivables identified as current assets under progress billing provisions of the contracts or upon completion of milestones and/or acceptance by the customers during fiscal 2016. The amount classified as not currently due is an estimate of the amount of long-term contract accounts receivable that will not be collected within one year from September 30, 2015 under transportation systems contracts in the U.S. and Australia.