CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME (Tables)

6 Months Ended

Jun. 30, 2020

Contract with Customer, Asset and Liability



June 30, 2020 (In millions)	Power			Aviation			Renewable Energy		Healthcare		Other			Total
Revenues in excess of billings	$	5,323		$	4,404		$	—	$	—	$	—		$	9,728
Billings in excess of revenues	(1,505		)	(3,910		)	—		—		—			(5,415		)
Long-term service agreements(a)	3,818			494			—		—		—			4,312
Short-term and other service agreements	152			343			41		187		37			759
Equipment contract revenues(b)	2,415			76			1,249		307		155			4,202
Total contract assets	6,385			913			1,290		494		192			9,273

Deferred inventory costs	933			475			982		339		—			2,730
Nonrecurring engineering costs	24			2,355			41		32		—			2,452
Customer advances and other(c)	—			1,132			—		—		(32		)	1,100
Contract and other deferred assets	$	7,342		$	4,875		$	2,313	$	865	$	160		$	15,555



December 31, 2019 (In millions)
Revenues in excess of billings	$	5,342		$	4,996		$	—	$	—	$	—		$	10,338
Billings in excess of revenues	(1,561		)	(3,719		)	—		—		—			(5,280		)
Long-term service agreements(a)	3,781			1,278			—		—		—			5,058
Short-term and other service agreements	190			316			43		169		—			717
Equipment contract revenues(b)	2,508			82			1,217		324		106			4,236
Total contract assets	6,478			1,675			1,260		492		106			10,011

Deferred inventory costs	943			287			1,677		359		—			3,267
Nonrecurring engineering costs	44			2,257			47		35		8			2,391
Customer advances and other(c)	—			1,165			—		—		(32		)	1,133
Contract and other deferred assets	$	7,465		$	5,384		$	2,985	$	886	$	82		$	16,801

(a)

Included amounts due from customers at Aviation for the sales of engines, spare parts and services, which we will collect through higher usage-based fees from servicing equipment under long-term service agreements, totaling $1,791 million and $1,712 million as of June 30, 2020 and December 31, 2019, respectively. The corresponding discount is recorded within liabilities as Deferred income and amounted to $297 million and $308 million as of June 30, 2020 and December 31, 2019, respectively.


(b)	Included are amounts due from customers at Power for the sale of services upgrades, which we collect through incremental fixed or usage-based fees from servicing the equipment under long-term service agreements, totaling $862 million and $909 million as of June 30, 2020 and December 31, 2019, respectively.

(c)

Included advances to and amounts due from customers at Aviation for the sale of engines, spare parts and services, which we will collect through incremental fees for goods and services to be delivered in future periods, totaling $955 million and $986 million as of June 30, 2020 and December 31, 2019, respectively. The corresponding discount is recorded within liabilities as Deferred income and amounted to $262 million and $256 million as of June 30, 2020 and December 31, 2019, respectively.



June 30, 2020 (In millions)	Power		Aviation		Renewable Energy		Healthcare		Other		Total
Progress collections on equipment contracts	$	5,011	$	152	$	1,184	$	—	$	—	$	6,347
Other progress collections	431		5,324		3,716		343		171		9,985
Total progress collections	5,441		5,476		4,901		343		171		16,332
Deferred income(a)	48		1,569		329		1,691		121		3,759
GE Progress collections and deferred income	$	5,489	$	7,046	$	5,230	$	2,034	$	292	$	20,091



December 31, 2019 (In millions)
Progress collections on equipment contracts	$	5,857	$	115	$	1,268	$	—	$	—	$	7,240
Other progress collections	413		4,748		4,193		305		189		9,849
Total progress collections	6,270		4,863		5,461		305		189		17,089
Deferred income(a)	49		1,528		284		1,647		98		3,606
GE Progress collections and deferred income	$	6,319	$	6,391	$	5,745	$	1,952	$	287	$	20,694

(a)

Included in this balance are finance discounts associated with customer advances at Aviation of $560 million and $564 million as of June 30, 2020 and December 31, 2019, respectively.