Contract Assets and Liabilities

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Contract Assets and Liabilities

Contract Assets and Liabilities

The following summarizes information about our contract assets and liabilities:

(in millions)	September 30, 2022		December 31, 2021
Information about contract assets:
Contract assets
Unbilled receivables - reimbursable contracts	$	804	$	822
Contract work in progress - lump-sum contracts	208		244
Contract assets	$	1,012	$	1,066
Advance billings deducted from contract assets	$	219	$	208
	9ME September 30,
(in millions)	2022		2021
Information about contract liabilities:
Revenue recognized that was included in contract liabilities as of January 1	$	812	$	882

Remaining Unsatisfied Performance Obligations

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

(in millions)	September 30, 2022
Within 1 year	$	12,160
1 to 2 years	6,726
Thereafter	4,975
Total RUPO	$	23,861