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

12 Months Ended

Dec. 31, 2022

Contract with Customer, Asset and Liability


December 31, 2022	Aerospace		Renewable Energy		Power		Corporate		Total
Revenues in excess of billings	$	2,363	$	—	$	5,403	$	—	$	7,766
Billings in excess of revenues	(6,681)		—		(1,763)		—		(8,443)
Long-term service agreements	$	(4,318)	$	—	$	3,640	$	—	$	(677)
Short-term and other service agreements	391		108		56		245		799
Equipment contract revenues	42		955		1,348		—		2,345
Current contract assets	$	(3,884)	$	1,063	$	5,044	$	245	$	2,467

Nonrecurring engineering costs(a)	2,513		17		4		—		2,534
Customer advances and other(b)	2,519		—		724		—		3,243
Non-current contract and other deferred assets	$	5,032	$	17	$	728	$	—	$	5,776
Total contract and other deferred assets	$	1,148	$	1,079	$	5,772	$	245	$	8,244


December 31, 2021
Revenues in excess of billings	$	2,478	$	—	$	5,495	$	—	$	7,972
Billings in excess of revenues	(5,731)		—		(1,614)		—		(7,346)
Long-term service agreements	$	(3,253)	$	—	$	3,880	$	—	$	627
Short-term and other service agreements	340		87		80		256		762
Equipment contract revenues	33		1,297		1,709		—		3,039
Current contract assets	$	(2,881)	$	1,384	$	5,669	$	256	$	4,429

Nonrecurring engineering costs(a)	2,479		28		12		—		2,519
Customer advances and other(b)	2,620		—		801		—		3,421
Non-current contract and other deferred assets	$	5,099	$	28	$	813	$	—	$	5,940
Total contract and other deferred assets	$	2,218	$	1,412	$	6,482	$	256	$	10,368

(a) Included costs incurred prior to production (such as requisition engineering) for equipment production contracts, primarily within our Aerospace segment, which are amortized ratably over each unit produced.

(b) Included amounts due from customers at Aerospace for the sales of engines, spare parts and services, and 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.


December 31, 2022	Aerospace		Renewable Energy		Power		Corporate		Total
Progress collections on equipment contracts	$	74	$	2,464	$	3,973	$	—	$	6,511
Other progress collections	5,740		2,731		541		131		9,143

Current deferred income	233		208		13		107		562
Progress collections and deferred income	$	6,047	$	5,404	$	4,527	$	238	$	16,216
Non-current deferred income	1,110		183		104		12		1,409
Total Progress collections and deferred income	$	7,157	$	5,586	$	4,632	$	250	$	17,625


December 31, 2021
Progress collections on equipment contracts	$	142	$	1,843	$	5,198	$	—	$	7,183
Other progress collections	4,469		2,866		385		111		7,831

Current deferred income	170		198		33		99		499
Progress collections and deferred income	$	4,782	$	4,907	$	5,615	$	210	$	15,514
Non-current deferred income	1,090		194		110		3		1,397
Total Progress collections and deferred income	$	5,871	$	5,101	$	5,725	$	213	$	16,910