Accounts Receivable

12 Months Ended

Sep. 30, 2019

Accounts Receivable

Accounts Receivable

NOTE 7—ACCOUNTS RECEIVABLE

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

	September 30,
	2019		2018
Accounts receivable
Billed	$	127,406	$	156,948
Unbilled		—		242,877
Allowance for doubtful accounts		(1,392)		(1,324)
Total accounts receivable		126,014		398,501
Less estimated amounts not currently due		—		(6,134)
Current accounts receivable	$	126,014	$	392,367

Amounts billed include $60.3 million and $80.5 million due on U.S. federal government contracts at September 30, 2019 and 2018, respectively. As further described in Note 2, effective October 1, 2018, the component of accounts receivable that consisted of unbilled contract receivables as reported under ASC 605 has been reclassified as contract assets under ASC 606.

In our normal course of business, we may sell trade receivables to financial institutions as a cash management technique. We do not retain financial or legal obligations for these receivables that would result in material losses. Our ongoing involvement is limited to the remittance of customer payments to the financial institutions with respect to the sold trade receivables; therefore, our sold trade receivables are not included in our Consolidated Balance Sheet in any period presented. As of September 30, 2019, we sold $31.1 million of outstanding trade receivables to financial institutions.