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Costs and Estimated Earnings on Uncompleted Contracts | 3 Months Ended
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Mar. 31, 2014
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Costs and Estimated Earnings on Uncompleted Contracts |
4. | Costs and Estimated Earnings on Uncompleted Contracts
Costs and estimated earnings on uncompleted contracts consist of (in millions):
|  | March 31, |  |  | December 31, |
|  | 2014 |  |  | 2013 |
Costs incurred on uncompleted contracts |  | $ | 8,521 |  |  | $ | 7,608 |
Estimated earnings |  |  | 3,909 |  |  |  | 3,553 |
|  |  | 12,430 |  |  |  | 11,161 |
Less: Billings to date |  |  | 12,989 |  |  |  | 11,393 |
|  | $ | (559 | ) |  | $ | (232 | )
Costs and estimated earnings in excess of billings on uncompleted contracts |  | $ | 1,520 |  |  | $ | 1,539 |
Billings in excess of costs and estimated earnings on uncompleted contracts |  |  | (2,079 | ) |  |  | (1,771 | )
|  | $ | (559 | ) |  | $ | (232 | )

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