ACCOUNTS RECEIVABLE

12 Months Ended

Sep. 30, 2016

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE

NOTE 4—ACCOUNTS RECEIVABLE

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

September 30,	2016		2015
U.S. Government Contracts:
Amounts billed	$	66,668	$	55,656
Recoverable costs and accrued profits on progress completed--not billed		81,624		63,676
		148,292		119,332
Commercial Customers:
Amounts billed		79,955		71,808
Recoverable costs and accrued profits on progress completed--not billed		160,098		191,961
		240,053		263,769
		388,345		383,101
Less unbilled amounts not currently due--commercial customers		(20,926)		(36,809)
	$	367,419	$	346,292

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 2017. 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, 2016 under transportation systems contracts in the U.S. and Australia, and under a CGD Systems contract in Italy based upon the payment terms in the contracts.