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Receivables

9 Months Ended

Sep. 30, 2014

RECEIVABLES

Receivables were comprised of the following:



(In millions)	September 30, 2014		December 31, 2013
(In millions)
Billed receivables	$	37	$	69
Unbilled contract receivables	151		159
Total	$	188	$	228

All billed receivables are due from the U.S. government, either directly as prime contractor to the government or as subcontractor to another prime contractor to the U.S. government, as of September 30, 2014 and December 31, 2013, respectively. Because the Company’s billed receivables are with the U.S. government, the Company does not have a material credit risk exposure.

Unbilled contract receivables represent revenue recognized on long-term contracts in excess of amounts billed as of the balance sheet date. We expect to bill and collect substantially all of the September 30, 2014 unbilled contract receivables during the next twelve months.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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