INVESTMENTS AND LONG-TERM RECEIVABLES

12 Months Ended

Dec. 31, 2011

Investment And Long Term Receivables [Abstract]

INVESTMENTS AND LONG-TERM RECEIVABLES

Note 10. Investments and Long-Term Receivables

	December 31,
	2011		2010
Investments	$	362	$	413
Long-term trade and other receivables		81		83
Long-term financing receivables		51		120
	$	494	$	616

Long-Term Trade and Other Receivables include $29 and $19 million of unbilled balances under long-term contracts as of December 31, 2011 and 2010, respectively. These amounts are billed in accordance with the terms of the customer contracts to which they relate.

The following table summarizes long term trade, financing and other receivables by segment, including current portions and allowances for credit losses.

		December 31,
		2011
Aerospace	$	13
Automation and Control Solutions		90
Performance Materials and Technologies		7
Transportation Systems		7
Corporate		19
	$	136

Allowance for credit losses for the above detailed long-term trade, financing and other receivables totaled $5 million and $7 million as of December 31, 2011 and 2010, respectively. The receivables are evaluated for impairment on an individual basis, including consideration of credit quality. The above detailed financing receivables are predominately with commercial and governmental counterparties of investment grade credit quality.