Unbilled Receivables |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 28, 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 September 28, 2025, and December 31, 2024, net unbilled receivables included $1.3 billion and $1.2 billion, respectively, associated with a large international tracked vehicle contract in our Combat Systems segment. We expect to see a significant decline in this balance over the next two years as contract deliveries, including vehicles, continue through early 2028.
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