Receivables

Receivables consist of:



	September 29, 2012			October 1, 2011
Accounts receivable	$	338,000		$	338,381
Long-term contract receivables:
Amounts billed	114,482			94,420
Unbilled recoverable costs and accrued profits	286,887			216,667
Total long-term contract receivables	401,369			311,087
Other	10,936			11,055
Total receivables	750,305			660,523
Less allowance for doubtful accounts	(5,754		)	(4,718		)
Receivables	$	744,551		$	655,805

On March 5, 2012, we entered into a trade receivables securitization facility (the Securitization Program). Under the Securitization Program, we securitize certain trade receivables in transactions that are accounted for as secured borrowings. We maintain a subordinated interest in a portion of the pool of trade receivables that are securitized. The retained interest, which is included in receivables in the balance sheet, is recorded at fair value, which approximates the total amount of the designated pool of accounts receivable. See Note 7, Indebtedness, for additional disclosures related to the Securitization Program.

Long-term contract receivables are primarily associated with prime contractors and subcontractors in connection with U.S. Government contracts, commercial aircraft and satellite manufacturers. Amounts billed under long-term contracts to the U.S. Government were $7,413 at September 29, 2012 and $12,237 at October 1, 2011. Unbilled recoverable costs and accrued profits under long-term contracts to be billed to the U.S. Government were $4,223 at September 29, 2012 and $6,861 at October 1, 2011. Unbilled recoverable costs and accrued profits principally represent revenues recognized on contracts that were not billable on the balance sheet date. These amounts will be billed in accordance with contract terms, generally as certain milestones are reached or upon shipment. Approximately three-quarters of unbilled amounts are expected to be collected within one year. In situations where billings exceed revenues recognized, the excess is included in customer advances.

There are no material amounts of claims or unapproved change orders included in the balance sheet. Balances billed but not paid by customers under retainage provisions are not material.

Concentrations of credit risk on receivables are limited to those from significant customers who are believed to be financially sound. Receivables from Boeing were $139,287 at September 29, 2012 and $117,072 at October 1, 2011. We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral.