Accounts Receivable

12 Months Ended

Sep. 30, 2018

Accounts Receivable

Accounts Receivable

NOTE 5—ACCOUNTS RECEIVABLE

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

September 30,	2018		2017
U.S. Government Contracts:
Amounts billed	$	80,547	$	53,450
Recoverable costs and accrued profits on progress completed--not billed		62,665		36,341
		143,212		89,791
Commercial Customers:
Amounts billed		76,401		131,532
Recoverable costs and accrued profits on progress completed--not billed		180,212		150,610
		256,613		282,142
		399,825		371,933
Less unbilled amounts not currently due--commercial customers		(6,134)		(17,457)
	$	393,691	$	354,476

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 2019. 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, 2018 under transportation systems contracts in the U.S. and Australia, and under a CGD contract in Italy based upon the payment terms in the contracts.