Contract Assets and Contract Liabilities (Tables)

9 Months Ended

Oct. 02, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Contract Liabilities

Contract assets and contract liabilities are summarized below:

(In millions)	October 2, 2020		January 3, 2020
Contract assets	$	2,416	$	2,459
Contract liabilities, current	(1,089)		(1,214)
Contract liabilities, non-current(1)	(76)		(87)
Net contract assets	$	1,251	$	1,158

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(1)The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Condensed Consolidated Balance Sheet (Unaudited).

The components of contract assets are summarized below:

(In millions)	October 2, 2020		January 3, 2020
Unbilled contract receivables, gross	$	4,166	$	3,690
Progress payments and advances	(1,750)		(1,231)
Contract assets	$	2,416	$	2,459