Contract Assets and Liabilities

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Contract Assets and Liabilities

Contract Assets and Liabilities

The following summarizes information about our contract assets and liabilities:

	December 31,
(in millions)	2023		2022
Information about contract assets:
Contract assets
Unbilled receivables - reimbursable contracts	$	854	$	738
Contract work in progress - lump sum contracts	137		177
Contract assets	$	991	$	915
Advance billings deducted from contract assets	$	163	$	220
	Year Ended December 31,
	2023		2022
Information about contract liabilities:
Provision for anticipated losses on contracts included in contract liabilities	$	129	$	212
Revenue recognized that was included in contract liabilities as of January 1	616		818

Remaining Unsatisfied Performance Obligations

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

(in millions)	December 31, 2023
Within 1 year	$	12,832
1 to 2 years	9,417
Thereafter	5,510
Total RUPO	$	27,759