ACCOUNTS RECEIVABLE

12 Months Ended

Sep. 30, 2012

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE

Note 6—Accounts receivable

The components of accounts receivable under long-term contracts are as follows (in thousands):

	September 30,
	2012			2011			2010			2009
				(As restated)			(As restated)			(As restated)
U.S. government contracts:
Amounts billed	$	48,387		$	64,672		$	50,925		$	62,093
Recoverable costs and accrued profits on progress completed—not billed		95,764			50,748			54,403			43,022
		144,151			115,420			105,328			105,115
Commercial customers:
Amounts billed		42,745			24,384			31,753			41,907
Recoverable costs and accrued profits on progress completed—not billed		168,791			91,322			92,897			89,087
		211,536			115,706			124,650			130,994
		355,687			231,126			229,978			236,109
Less unbilled amounts not currently due—commercial customers		(22,070	)		(23,700	)		(28,080	)		(13,400	)
	$	333,617		$	207,426		$	201,898		$	222,709

A portion of recoverable costs and accrued profits on progress completed is billable under progress or milestone payment provisions of the related contracts. The remainder of these amounts is billable upon delivery of products or furnishing of services, with an immaterial amount subject to retainage provisions of the contracts. Contract terms, including payment terms on our long-term development contracts are generally customized for each contract based upon negotiations with the respective customer. It is anticipated that we will bill and collect substantially the entire unbilled portion of receivables identified as current assets under progress billing provisions of the contracts or upon completion of milestones and/or acceptance by the customers during fiscal 2013. The amount classified as not currently due is an estimate of the amount of long-term contract accounts receivable that will not be collected within one year from September 30, 2012 under transportation systems contracts in the U.S., Australia and the U.K. The non-current balance at September 30, 2011 represented non-current amounts due from customers in the same countries. The non-current balances at September 30, 2010 and 2009 relate to transportation systems contracts in the U.S., Australia and the U.K., and a defense systems contract in Canada.