CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Contract Liabilities

Contract assets and contract liabilities are summarized below:

(In millions)	June 30, 2023		December 30, 2022
Contract assets	$	3,164	$	2,987
Contract liabilities, current	(1,648)		(1,400)
Contract liabilities, non-current(1)	(111)		(117)
Net contract assets	$	1,405	$	1,470

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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.

The components of contract assets are summarized below:

(In millions)	June 30, 2023		December 30, 2022
Unbilled contract receivables, gross	$	5,034	$	4,629
Unliquidated progress payments and advances	(1,870)		(1,642)
Contract assets	$	3,164	$	2,987