INVESTMENTS AND LONG-TERM RECEIVABLES

12 Months Ended

Dec. 31, 2012

Investment And Long Term Receivables [Abstract]

Investments and Long-Term Receivables

Note 10. Investments and Long-Term Receivables

	December 31,
	2012		2011
Investments	$	424	$	362
Long-term trade and other receivables		168		81
Long-term financing receivables		31		51
	$	623	$	494

Long-Term Trade and Other Receivables include $31million and $29 million of unbilled balances under long-term contracts as of December 31, 2012 and 2011, 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,
		2012
Aerospace	$	11
Automation and Control Solutions		89
Performance Materials and Technologies		9
Transportation Systems		15
Corporate		73
	$	197

Allowance for credit losses for the above detailed long-term trade, financing and other receivables totaled $4 million and $5 million as of December 31, 2012 and 2011, respectively. The receivables are evaluated for recoverability 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.