Remaining Unsatisfied Performance Obligations

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Remaining Unsatisfied Performance Obligations

Contract Assets and Liabilities

The following summarizes information about our contract assets and liabilities:

(in millions)	March 31, 2023		December 31, 2022
Information about contract assets:
Contract assets
Unbilled receivables - reimbursable contracts	$	866	$	738
Contract work in progress - lump-sum contracts	197		177
Contract assets	$	1,063	$	915
Advance billings deducted from contract assets	$	239	$	220
	3ME March 31,
(in millions)	2023		2022
Information about contract liabilities:
Revenue recognized that was included in contract liabilities as of January 1	$	313	$	531

We periodically evaluate our project forecasts and the amounts recognized with respect to our claims and unapproved change orders. We include estimated amounts for claims and unapproved change orders in project revenue to the extent it is probable we will realize those amounts. As of March 31, 2023 and December 31, 2022, we had recorded $526 million and $498 million, respectively, of revenue associated with claims and unapproved change orders for costs incurred to date. Additional costs, which will increase this balance over time, are expected to be incurred in future periods. We had no material disputed back charges to suppliers or subcontractors as of March 31, 2023 and December 31, 2022.

Remaining Unsatisfied Performance Obligations

We estimate that our RUPO will be satisfied over the following periods:

(in millions)	March 31, 2023
Within 1 year	$	13,056
1 to 2 years	7,412
Thereafter	3,890
Total RUPO	$	24,358