Balance Sheet Details

9 Months Ended

Jun. 30, 2011

Balance Sheet Details

Balance Sheet Details

Note 2 — Balance Sheet Details

The components of accounts receivable are as follows (in thousands):

	June 30,			September 30,
	2011			2010
Trade and other receivables	$	18,697		$	11,594
Long-term contracts:
Billed	89,400			85,016
Unbilled	124,818			142,417
Allowance for doubtful accounts	(690		)	(663		)
Total accounts receivable	232,225			238,364
Less estimated amounts not currently due	(24,275		)	(28,080		)
Current accounts receivable	$	207,950		$	210,284

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 June 30, 2011 under transportation systems contracts in the U.S., Australia and the U.K. The non-current balance at September 30, 2010 represented non-current amounts due from customers under transportation systems contracts in the U.S., Australia and the U.K., and a defense systems contract in Canada.

Inventories consist of the following (in thousands):

	June 30,			September 30,
	2011			2010
Work in process and inventoried costs under long-term contracts	$	77,820		$	71,696
Customer advances	(41,359		)	(41,575		)
Raw material and purchased parts	1,117			2,699
Net inventories	$	37,578		$	32,820

At June 30, 2011, work in process and inventoried costs under long-term contracts includes approximately $1.2 million in costs incurred for contracts in the defense systems segment where we have been selected as the preferred bidder but have not yet been awarded a contract, compared to $0.1 million as of September 30, 2010. We believe it is probable that these costs, plus appropriate profit margin, will be recovered upon the award of the contracts within the next quarter.