Contracts-in-Process and Long-Term Receivables (Tables)

9 Months Ended

Sep. 30, 2012

Contracts-in-Process are comprised of the following (in thousands):


	September 30, 2012			December 31, 2011
Contracts-in-Process:
Amounts billed	$	100,867		$	107,920
Unbilled receivables		89,719			51,341

		190,586			159,261

Billed and unbilled receivables classified as assets held for sale		(190,586	)		—

Contracts-in-process, as reported	$	—		$	159,261

Schedule of receipts for long term receivables

Receivable balances related to satellite orbital incentive payments, deferred billings and the long-term portion of the Telesat consulting services fee (see Note 20) as of September 30, 2012 and December 31, 2011 are presented below (in thousands):


	September 30, 2012			December 31, 2011
Orbital receivables	$	364,114		$	354,852
Deferred receivables		—			1,973
Telesat consulting services receivable		—			20,700

		364,114			377,525
Less: current portion included in contracts-in-process		(15,838	)		(14,837	)

Long-term receivables		348,276			362,688

Long-term receivables classified as assets held for sale		(348,276	)		—

Long-term receivables, as reported	$	—		$	362,688

Aging Of Financing Recievables

The following summarizes the age of financing receivables that have a contractual maturity of over one year as of September 30, 2012 (in thousands):


	Total			Unlaunched			Launched			Financing Receivables Subject To Aging			Current			90 Days or Less		More Than 90 Days
Satellite Manufacturing:
Orbital Receivables
Long term orbitals	$	348,276		$	99,894		$	248,382		$	248,382		$	248,382		$	—	$	—
Short term unbilled		12,592			—			12,592			12,592			12,592			—		—
Short term billed		3,246			—			3,246			3,246			3,246			—		—

		364,114			99,894			264,220			264,220			264,220			—		—
Deferred Receivables		—			—			—			—			—			—		—

Consulting Services:
Receivables from Telesat		23,953			—			—			23,953			23,953			—		—

		388,067			99,894			264,220			288,173			288,173			—		—

Contracts-in-Process:
Unbilled receivables		77,127			77,127			—			—			—			—		—

Total financing receivables		465,194			177,021			264,220			288,173			288,173			—		—

Financing receivables classified as assets held for sale		(441,241	)		(177,021	)		(264,220	)		(264,220	)		(264,220	)		—		—

Financing receivables, as reported	$	23,953		$	—		$	—		$	23,953		$	23,953		$	—	$	—

The following summarizes the age of financing receivables that have a contractual maturity of over one year as of December 31, 2011 (in thousands):


	Total		Unlaunched		Launched		Financing Receivables Subject To Aging		Current		90 Days or Less		More Than 90 Days
Satellite Manufacturing:
Orbital Receivables
Long term orbitals	$	340,015	$	141,518	$	198,497	$	198,497	$	198,497	$	—	$	—
Short term unbilled		11,370		—		11,370		11,370		11,370		—		—
Short term billed		3,467		—		3,467		3,467		1,084		—		2,383

		354,852		141,518		213,334		213,334		210,951		—		2,383

Deferred Receivables		1,973		—		—		1,973		1,973		—		—

Consulting Services:
Telesat receivables		20,700		—		—		20,700		20,700		—		—

		377,525		141,518		213,334		236,007		233,624		—		2,383

Contracts-in-Process:
Unbilled receivables		39,971		39,971		—		—		—		—		—

Total financing receivables	$	417,496	$	181,489	$	213,334	$	236,007	$	233,624	$	—	$	2,383

Credit Quality Of Financing Receivables

Credit risk profile by internally assigned ratings, consisted of the following (in thousands):


	September 30, 2012		December 31, 2011
Rating Categories
A/BBB	$	75,592	$	41,607
BB/B		276,904		246,373
B/CCC		106,376		94,156
Customers in bankruptcy		—		39,307
Other		6,322		(3,947	)

Total financing receivables	$	465,194		417,496