NORTHROP GRUMMAN CORP DE
For the period ended Dec 31, 2024. Filed Jan 30, 2025.
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FY2024 · Filed Jan 30, 2025
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4. Unbilled Receivables, Net
- UNBILLED RECEIVABLES, NET
Unbilled receivables, net represent revenue recognized under the cost-to-cost method that exceeds amounts billed to customers. A large majority of the company’s unbilled receivables at December 31, 2024 are expected to be billed and collected in 2025. Progress and performance-based payments are reflected as an offset to the related unbilled receivable balances.
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Unbilled receivables, net consisted of the following:
| $ in millions | 2024 | 2023 |
|---|---|---|
| Due from U.S. government (1) | ||
| Unbilled receivables | $22,871 | $23,655 |
| Progress and performance-based payments received | (17,300) | (18,321) |
| Total due from U.S. government | 5,571 | 5,334 |
| Due from international and other customers | ||
| Unbilled receivables | 1,108 | 1,720 |
| Progress and performance-based payments received | (757) | (1,344) |
| Total due from international and other customers | 351 | 376 |
| Unbilled receivables, net of progress and performance-based payments received | 5,922 | 5,710 |
| Allowance for expected credit losses | (14) | (17) |
| Unbilled receivables, net | $5,908 | $5,693 |
(1)Includes unbilled receivables due from the U.S. government associated with foreign military sales, which are contracted with and paid by the U.S. government.
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