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Costs and Estimated Earnings on Uncompleted Contracts | 9 Months Ended
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Sep. 30, 2014
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Costs and Estimated Earnings on Uncompleted Contracts |
5. | Costs and Estimated Earnings on Uncompleted Contracts
Costs and estimated earnings on uncompleted contracts consist of (in millions):
|  | September 30, 2014 |  |  | December 31, 2013 |
Costs incurred on uncompleted contracts |  | $ | 10,544 |  |  | $ | 7,608 |
Estimated earnings |  |  | 4,810 |  |  |  | 3,553 |
|  |  | 15,354 |  |  |  | 11,161 |
Less: Billings to date |  |  | 15,548 |  |  |  | 11,393 |
|  | $ | (194 | ) |  | $ | (232 | )
Costs and estimated earnings in excess of billings on uncompleted contracts |  | $ | 1,615 |  |  | $ | 1,539 |
Billings in excess of costs and estimated earnings on uncompleted contracts |  |  | (1,809 | ) |  |  | (1,771 | )
|  | $ | (194 | ) |  | $ | (232 | )

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