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REVENUE
 6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
The following table summarizes revenues for the three and six months ended June 30, 2020 and 2019:
Three Months Ended June 30,
20202019
(in millions)
Agriculture$2,541  $3,095  
Construction420  757  
Commercial and Specialty Vehicles1,739  2,698  
Powertrain763  1,133  
Eliminations and Other(313) (615) 
Total Industrial Activities$5,150  $7,068  
Financial Services441  519  
Eliminations and Other(13) (20) 
Total Revenues $5,578  $7,567  
Six Months Ended June 30,
20202019
(in millions)
Agriculture$4,785  $5,585  
Construction842  1,397  
Commercial and Specialty Vehicles3,760  5,112  
Powertrain1,516  2,169  
Eliminations and Other(760) (1,189) 
Total Industrial Activities$10,143  $13,074  
Financial Services930  993  
Eliminations and Other(34) (43) 
Total Revenues $11,039  $14,024  
The following table disaggregates revenues by major source for the three and six months ended June 30, 2020 and 2019:
Three Months Ended June 30,
20202019
(in millions)
Revenues from:
Sales of goods$4,946  $6,808  
Rendering of services and other revenues126  159  
Rents on assets sold with a buy-back commitment78  101  
Revenues from sales of goods and services5,150  7,068  
Finance and interest income254  291  
Rents and other income on operating lease174  208  
Finance, interest and other income428  499  
Total Revenues$5,578  $7,567  


Six Months Ended June 30,
20202019
(in millions)
Revenues from:
Sales of goods$9,701  $12,565  
Rendering of services and other revenues282  304  
Rents on assets sold with a buy-back commitment160  205  
Revenues from sales of goods and services10,143  13,074  
Finance and interest income527  579  
Rents and other income on operating lease369  371  
Finance, interest and other income896  950  
Total Revenues$11,039  $14,024  
Contract liabilities recorded in Other liabilities were $1,134 million and $1,236 million at June 30, 2020 and December 31, 2019, respectively. Contract liabilities primarily relate to extended warranties/maintenance and repair contracts, and transactions for the sale of vehicles with a buy-back commitment. During the three months ended June 30, 2020 and 2019, revenues included $112 million and $134 million, respectively, relating to contract liabilities outstanding at the beginning of each period. During the six months ended June 30, 2020 and 2019 revenues included $257 million and $297 million respectively, relating to contract liabilities outstanding at the beginning of each period.
At June 30, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $1.8 billion ($2.0 billion as of December 31, 2019). The Company expects to recognize revenue on approximately 39% and 84% of the remaining performance obligations over the next 12 and 36 months, respectively (approximately 39% and 84% as of December 31, 2019), with the remaining recognized thereafter.