Unbilled Receivables |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 29, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Unbilled Receivables | UNBILLED RECEIVABLES Unbilled receivables represent revenue recognized on long-term contracts (contract costs and estimated profits) less associated advances and progress billings. These amounts will be billed in accordance with the agreed-upon contractual terms. Unbilled receivables consisted of the following:
On June 29, 2025, and December 31, 2024, net unbilled receivables included $1.4 billion and $1.2 billion, respectively, associated with a large international tracked vehicle contract in our Combat Systems segment. The contract experienced an unbilled receivable build-up in 2021 and 2022 and the customer resumed payments in the first quarter of 2023.
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