Remaining Unsatisfied Performance Obligations

9 Months Ended

Sep. 30, 2021

Revenue from Contract with Customer [Abstract]

Remaining Unsatisfied Performance Obligations

Contract Assets and Liabilities

The following summarizes information about our contract assets and liabilities:

(in millions)	September 30, 2021		December 31, 2020
Information about contract assets:
Contract assets
Unbilled receivables - reimbursable contracts	$	724	$	590
Contract work in progress - lump-sum contracts	288		270
Contract assets	$	1,012	$	860
Advance billings deducted from contract assets	$	234	$	308
	9ME September 30,
(in millions)	2021		2020
Information about contract liabilities:
Revenue recognized that was included in contract liabilities as of January 1	$	836	$	674

Remaining Unsatisfied Performance Obligations

We estimate that our RUPO will be satisfied over the following periods:

(in millions)	September 30, 2021
Within 1 year	$	11,039
1 to 2 years	5,610
Thereafter	3,892
Total RUPO	$	20,541

During the 2021 Period, we removed approximately $2 billion from RUPO due to the cancellation of a chemicals project and