Exelis (FRA:6EX) Accounts Receivable : €788 Mil (As of Mar. 2015)

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What is Exelis Accounts Receivable?

Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Exelis's accounts receivables for the quarter that ended in Mar. 2015 was €788 Mil.

Accounts receivable can be measured by Days Sales Outstanding. Exelis's Days Sales Outstanding for the quarter that ended in Mar. 2015 was 99.15.

In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. Exelis's Net-Net Working Capital per share for the quarter that ended in Mar. 2015 was €-11.26.

Exelis Accounts Receivable Historical Data

The historical data trend for Exelis's Accounts Receivable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Exelis Accounts Receivable Chart

Exelis Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Accounts Receivable

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449.06

349.60

326.90

521.95

668.26

Exelis Quarterly Data
	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
Accounts Receivable	Get a 7-Day Free Trial															342.70	304.70	728.66	668.26	788.17

Exelis Accounts Receivable Calculation

Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.

Exelis Accounts Receivable Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.

Exelis's Days Sales Outstanding for the quarter that ended in Mar. 2015 is calculated as:

	Days Sales Outstanding
=	Accounts Receivable	/	Revenue	*	Days in Period
=	788.172	/	725.34	*	91
=	99.15

2. In Ben Graham's calculation of Net-Net Working Capital (NNWC), Exelis's accounts receivable are only considered to be worth 75% of book value:

Exelis's Net-Net Working Capital Per Share for the quarter that ended in Mar. 2015 is calculated as:

	Net-Net Working Capital Per Share
=	(Cash And Cash Equivalents	+	0.75 * Accounts Receivable	+	0.5 * Total Inventories	-	Total Liabilities
-	Preferred Stock	-	Minority Interest)	/	Shares Outstanding (EOP)
=	(442.596	+	0.75 * 788.172	+	0.5 * 213.444	-	3253.404
-	0	-	0)	/	187.7
=	-11.26

Be Aware

Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.

If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.

Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.

Exelis Accounts Receivable Related Terms

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Exelis (FRA:6EX) Business Description

Industry

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Address

Website

http://www.exelisinc.com

Exelis Inc was incorporated in the state of Indiana on May 4, 2011. The Company is a diversified aerospace, defense, information and services Company. The Company operates in two segments: Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) Electronics and Systems and Information and Technical Services to military, government and commercial customers in the United States and internationally. The C4ISR Electronics and Systems segment provides engineered systems and solutions, including: ISR systems; integrated electronic warfare systems; radar and sonar systems; electronic attack and release systems; communications solutions; space systems; and composite aerostructures, for government and commercial customers. The Information and Technical Services segment provides a broad range of service solutions, including: systems integration; network design and development; air traffic management; cyber; intelligence; operations; sustainment; advanced engineering; logistics; and space launch and range-support, for U.S. military and U.S. Government customers. The C4ISR Electronics and Systems' products are classified into Intelligence, Surveillance and Reconnaissance Systems, Integrated Electronic Warfare Systems, Electronic Attack and Release Systems, Radar, Reconnaissance and Undersea Systems, Communications Solutions, Night Vision, Positioning, Navigation and Timing, Aerostructures, and Specialty Applications. Information and Technical Services product lines are classified into Advanced Information Solutions, Civil and Aerospace Systems, Command, Control and Communications Systems, Infrastructure Asset Management, Logistics and Supply Chain Management, and Information Technology and Network Communication Services. The Company's customers include the United States Department of Defense, including U.S. Army, Navy, Marines and Air Force, U.S. Government intelligence agencies, National Aeronautics and Space Administration, Federal Aviation Administration. The Company competes against companies such as Lockheed Martin Corporation, The Boeing Company, Raytheon Company, General Dynamics Corporation, L-3 Communications Corporation, SAIC Inc., Northrop Grumman Corporation, Harris Corporation and BAE Systems, Inc. Internationally, it also competes against these same companies as well as Thales Group, EADS N.V., Finmeccanica S.p.A., among others The Company is subject to federal, state and local environmental laws and regulations.

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