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Accounts Receivable and Other Current Assets
 12 Months Ended
Dec. 31, 2012
Accounts Receivable and Other Current Assets  
Accounts Receivable and Other Current Assets
2. ACCOUNTS RECEIVABLE AND OTHER CURRENT ASSETS
December 31,
2012
2011
(millions)
Accounts receivable:
Utility customers
$ 118.3 $ 124.2
Contract services, primarily Department of Energy:
Billed revenue
10.5 18.8
Unbilled revenue
6.0 19.0
16.5 37.8
$ 134.8 $ 162.0
Other current assets:
         Prepayments to American Centrifuge suppliers
$ - $ 21.1
         Prepaid taxes, power purchases and insurance
4.0 29.4
         Deferred financing costs for credit facility
3.0 2.4
         Other
12.2 11.9
$ 19.2 $ 64.8

Billings for contract services related to DOE are generally invoiced based on provisional billing rates approved by DOE. Unbilled revenue represents the difference between actual costs incurred, prior to incurred cost audit and notice by DOE authorizing final billing, and provisional billing rate invoiced amounts.

Current accounts receivable are net of valuation allowances and allowances for doubtful accounts totaling $2.1 million at December 31, 2012 and $13.7 million at December 31, 2011. Certain receivables from DOE of $25.8 million, net of valuation allowances, were reclassified from current assets to other long-term assets in 2012 based on the extended timeframe expected to resolve claims for payment filed by USEC under the Contract Disputes Act. Additional details are provided in Note 5.

Unbilled revenue of $4.4 million as of December 31, 2012 represents the balance of DOE's pro-rata share of funding for American Centrifuge expenditures in 2012. Additional details are provided in Note 18 under "American Centrifuge Plant – Project Funding."
 
As of December 31, 2012, prepayments to American Centrifuge suppliers of $9.9 million were charged to expense. Additional details are provided in Note 4.