Northrop Grumman 2013 Annual Report Download - page 69

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NORTHROP GRUMMAN CORPORATION
-59-
Accounts receivable consisted of the following:
December 31
$ in millions 2013 2012
Due from U.S. Government
Billed $ 596 $ 783
Unbilled 5,801 5,284
Progress and performance-based payments received (4,385)(3,907)
2,012 2,160
Due from Other Customers (inclusive of foreign military sales)
Billed 296 325
Unbilled 2,830 1,992
Progress and performance-based payments received (2,384)(1,559)
742 758
Total accounts receivable 2,754 2,918
Allowance for doubtful accounts (69)(60)
Total accounts receivable, net $2,685 $2,858
6. INVENTORIED COSTS, NET
Inventoried costs consisted of the following:
December 31
$ in millions 2013 2012
Production costs of contracts in process $ 1,342 $ 1,593
General and administrative expenses 259 262
1,601 1,855
Progress and performance-based payments received (1,005)(1,167)
596 688
Product inventory 102 110
Total inventoried costs, net $ 698 $ 798
7. INCOME TAXES
Federal and foreign income tax expense consisted of the following:
Year Ended December 31
$ in millions 2013 2012 2011
Income Taxes on Continuing Operations
Currently payable
Federal income taxes $803 $912 $592
Foreign income taxes 28 15 18
Total federal and foreign income taxes currently payable 831 927 610
Deferred federal and foreign income taxes 80 60 387
Total federal and foreign income taxes $911 $987 $997
Earnings from foreign continuing operations before income taxes are not material for all periods presented.