Contract Asset & Liability (Tables)

12 Months Ended

Dec. 31, 2023

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]

Contract with Customer, Asset and Liability

Total contract assets and contract liabilities as of December 31, 2023 and 2022 are as follows:

(dollars in millions)	2023		2022
Contract assets	$	12,139	$	11,534
Contract liabilities	(17,183)		(14,598)
Net contract liabilities	$	(5,044)	$	(3,064)

Costs in Excess of Billings and Billings in Excess of Costs

Contract assets consisted of the following at December 31:

(dollars in millions)	2023		2022
Unbilled	$	26,481	$	23,909
Progress payments	(14,342)		(12,375)
Total contract assets	$	12,139	$	11,534