Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

For the three and six months ended June 30, 2020 and 2019, the Company recognized revenue as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Revenue recognized over time	$	1,439	$	1,496	$	2,914	$	2,861
Revenue recognized at a point in time	1,250		1,539		2,532		2,929
Total revenue	$	2,689	$	3,035	$	5,446	$	5,790

See Note Q for further disaggregation of the Company's revenue.

The Company has applied the practical expedient to exclude disclosure of remaining performance obligations as its binding orders typically have a term of one year or less.

Contract Assets and Contract Liabilities

Contract assets and liabilities are reported in a net position on a contract-by-contract basis. Net contract assets were as follows:

	June 30, 2020		December 31, 2019
Contract assets included in prepaid and other current assets	$	52	$	30
Contract liabilities included in accrued liabilities	(3)		(5)
Net contract asset	$	49	$	25

Contract assets at June 30, 2020 primarily relates to revenue recognized for customized work-in-process inventory in the Company's equipment business and European three-piece food can product businesses.

During the six months ended June 30, 2020, the Company recognized revenue of $2 related to contract liabilities at December 31, 2019 for performance obligations satisfied during the period.