ACCOUNTS RECEIVABLE

12 Months Ended

Sep. 30, 2014

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE

NOTE 4—ACCOUNTS RECEIVABLE

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

September 30,	2014			2013
U.S. Government Contracts:
Amounts billed	$	41,588		$	51,529
Recoverable costs and accrued profits on progress completed—not billed	66,657			60,435
	108,245			111,964
Commercial Customers:
Amounts billed	80,283			47,454
Recoverable costs and accrued profits on progress completed—not billed	191,417			221,911
	271,700			269,365
	379,945			381,329
Less unbilled amounts not currently due—commercial customers	(15,870		)	(19,021		)
	$	364,075		$	362,308

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. 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 2015. 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, 2014 under transportation systems contracts in the U.S., Australia and the U.K.