Contract and Other Deferred Assets (Tables)

3 Months Ended

Mar. 31, 2020

Deferred Revenue Disclosure [Abstract]

Contract assets

Contract assets are comprised of the following:

	March 31, 2020		December 31, 2019
Long-term product service agreements	$	589	$	603
Long-term equipment contracts (1)	1,049		1,097
Contract assets (total revenue in excess of billings)	1,638		1,700
Deferred inventory costs	142		130
Non-recurring engineering costs	46		51
Contract and other deferred assets	$	1,826	$	1,881

⁽¹⁾Reflects revenue earned in excess of billings on our long-term contracts to construct technically complex equipment and certain other service agreements.

Contract liabilities are comprised of the following:

	March 31, 2020		December 31, 2019
Progress collections	$	3,066	$	2,760
Deferred income	130		110
Progress collections and deferred income (contract liabilities)	$	3,196	$	2,870