Receivables

3 Months Ended

Jan. 02, 2021

Receivables [Abstract]

Receivables

Receivables

Receivables consist of:

	January 2, 2021		October 3, 2020
Accounts receivable	$	382,836	$	363,089
Unbilled receivables	490,297		493,734
Other	6,472		5,025
Less allowance for credit losses	(6,762)		(6,313)
Receivables, net	$	872,843	$	855,535

We securitize certain trade receivables in transactions that are accounted for as secured borrowings (Securitization Program). 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 Consolidated Condensed Balance Sheets, is recorded at fair value, which approximates the total amount of the designated pool of accounts receivable. Refer to Note 9, Indebtedness, for additional disclosures related to the Securitization Program.

The allowance for credit losses is based on our assessment of the collectability of customer accounts. The allowance is determined by considering factors such as historical experience, credit quality, age of the accounts receivable, current economic conditions and reasonable forecasted financial information that may affect a customer’s ability to pay.