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Inventoried Costs, Net

12 Months Ended

Dec. 31, 2014

INVENTORIED COSTS, NET

Inventoried costs were composed of the following:



	December 31
($ in millions)	2014		2013
Production costs of contracts in process	$	248	$	218
General and administrative expenses	—		2
	248		220
Progress payments received	—		—
	248		220
Raw material inventory	91		91
Total inventoried costs, net	$	339	$	311

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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