Revenue from Contracts with Customers (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Change in Estimate at Completion Adjustments

EAC adjustments had the following impacts to revenue for the periods presented:

	Three Months Ended June 30,						Six Months Ended June 30,
(Dollars in millions)	2022			2021			2022			2021
Revenue	$	(10)		$	(8)		$	(11)		$	(9)
Total % of Revenue	1.6		%	1.3		%	0.9		%	0.7		%

EAC adjustments had the following impacts to revenue for the periods presented:

	Year Ended December 31,
(Dollars in millions)	2021			2020			2019
Revenue	$	(34)		$	(77)		$	(55)
Total % of Revenue	1		%	3		%	2		%

Schedule of Contract Assets and Contract Liabilities

(Dollars in millions)	June 30, 2022		December 31, 2021
Contract assets	$	874	$	743
Contract liabilities	156		174
Net contract assets	$	718	$	569

	Year Ended December 31,
(Dollars in millions)	2021		2020
Contract assets	$	743	$	672
Contract liabilities	174		177
Net contract assets	$	569	$	495

Schedule of Remaining Performance Obligations, Expected Timing of Satisfaction

The following table summarizes the value of our total backlog as of June 30, 2022, incorporating both funded and unfunded components:

Backlog:	June 30, 2022
(Dollars in millions)
Total Backlog	$	3,051

The following table summarizes the value of our backlog at December 31, 2021 and 2020:

Backlog:	Year Ended December 31,
(Dollars in millions)	2021		2020
Funded	$	2,510	$	2,847
Unfunded	351		444
Total Backlog	$	2,861	$	3,291

Schedule of Disaggregation of Revenue

We believe these categories best depict how the nature, amount, timing and uncertainty of ASC revenue and cash flows are affected by economic factors:

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions)	2022		2021		2022		2021
Revenue by Geographical Region
United States	$	367	$	457	$	739	$	901
International	74		28		96		63
Intersegment Sales	3		4		5		7
Total	$	444	$	489	$	840	$	971
Revenue by Customer Relationship
Prime contractor	$	216	$	279	$	448	$	555
Subcontractor	225		206		387		409
Intersegment Sales	3		4		5		7
Total	$	444	$	489	$	840	$	971
Revenue by Contract Type
Firm Fixed Price	$	394	$	419	$	736	$	845
Flexibly Priced(1)	47		66		99		119
Intersegment Sales	3		4		5		7
Total	$	444	$	489	$	840	$	971

________________

(1)Includes revenue derived from time-and-materials contracts.

We believe these categories best depict how the nature, amount, timing and uncertainty of IMS revenue and cash flows are affected by economic factors:

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in millions)	2022		2021		2022		2021
Revenue by Geographical Region
United States	$	178	$	160	$	390	$	349
International	8		14		14		26
Intersegment Sales	1		—		1		—
Total	$	187	$	174	$	405	$	375
Revenue by Customer Relationship
Prime contractor	$	36	$	42	$	69	$	86
Subcontractor	150		132		335		289
Intersegment Sales	1		—		1		—
Total	$	187	$	174	$	405	$	375
Revenue by Contract Type
Firm Fixed Price	$	154	$	146	$	347	$	316
Flexibly Priced(1)	32		28		57		59
Intersegment Sales	1		—		1		—
Total	$	187	$	174	$	405	$	375

________________

(1)Includes revenue derived from time-and-materials contracts.

We believe these categories best depict how the nature, amount, timing and uncertainty of ASC revenue and cash flows are affected by economic factors:

	Year Ended December 31,
(Dollars in millions)	2021		2020		2019
Revenue by Geographical Region
United States	$	1,808	$	1,763	$	1,699
International	113		182		99
Intersegment Sales	19		13		12
Total	$	1,940	$	1,958	$	1,810
Revenue by Customer Relationship
Prime contractor	$	1,209	$	1,063	$	1,027
Subcontractor	712		882		771
Intersegment Sales	19		13		12
Total	$	1,940	$	1,958	$	1,810
Revenue by Contract Type
Firm Fixed Price	$	1,667	$	1,716	$	1,570
Flexibly Priced(1)	254		229		228
Intersegment Sales	19		13		12
Total	$	1,940	$	1,958	$	1,810

__________________

(1)Includes revenue derived from time-and-materials contracts.

We believe these categories best depict how the nature, amount, timing and uncertainty of IMS revenue and cash flows are affected by economic factors:

	Year Ended December 31,
(Dollars in millions)	2021		2020		2019
Revenue by Geographical Region
United States	$	913	$	792	$	895
International	45		41		21
Intersegment Sales	1		1		1
Total	$	959	$	834	$	917
Revenue by Customer Relationship
Prime contractor	$	174	$	283	$	442
Subcontractor	784		550		474
Intersegment Sales	1		1		1
Total	$	959	$	834	$	917
Revenue by Contract Type
Firm Fixed Price	$	831	$	692	$	763
Flexibly Priced(1)	127		141		153
Intersegment Sales	1		1		1
Total	$	959	$	834	$	917

__________________

(1)Includes revenue derived from time-and-materials contracts.