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ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2019

NOTE 8—ACCOUNTS RECEIVABLE

Accounts Receivable—Trade, Net―Our trade receivable balances at December 31, 2019 and 2018 included the following:

	December 31,
	2019			2018
	(In millions)
Contract receivables ⁽¹⁾	$	969		$	794
Retainages ⁽²⁾		148			155
Less allowances		(30	)		(17	)
Accounts receivable—trade, net	$	1,087		$	932

⁽¹⁾	^{Unbilled receivables for our performance obligations recognized at a point in time are recorded within accounts receivable and were approximately $44 million and $31 million as of December 31, 2019 and 2018, respectively.}

⁽²⁾

^{Retainages classified within Accounts receivable-trade, net are amounts anticipated to be collected within one year and as to which we have an unconditional right to collect from the customer, subject only to the passage of time. Retainages anticipated to be collected beyond one year are classified as Accounts receivable long-term retainages on our Balance Sheet and totaled $24 million, of which $18 million and $6 million are anticipated to be collected in 2021 and thereafter, respectively.}