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Costs and Estimated Earnings on Uncompleted Contracts | 9 Months Ended
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Sep. 30, 2015
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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, 2015 |  |  | December 31, 2014 |
Costs incurred on uncompleted contracts |  | $ | 10,905 |  |  | $ | 10,442 |
Estimated earnings |  |  | 4,868 |  |  |  | 4,699 |
|  |  | 15,773 |  |  |  | 15,141 |
Less: Billings to date |  |  | 15,284 |  |  |  | 15,038 |
|  | $ | 489 |  |  | $ | 103 |
Costs and estimated earnings in excess of billings on uncompleted contracts |  | $ | 1,669 |  |  | $ | 1,878 |
Billings in excess of costs and estimated earnings on uncompleted contracts |  |  | (1,180 | ) |  |  | (1,775 | )
|  | $ | 489 |  |  | $ | 103 |

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