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Revenues
 6 Months Ended
Jun. 28, 2024
Revenue from Contract with Customer [Abstract]  
Revenues
Note 2–Revenues
Remaining Performance Obligations
Remaining performance obligations ("RPO") represent the expected value of exercised contracts, both funded and unfunded, less revenue recognized to date. RPO does not include unexercised option periods and future potential task orders expected to be awarded under indefinite delivery/indefinite quantity ("IDIQ") contracts, General Services Administration Schedule or other master agreement contract vehicles, with the exception of certain IDIQ contracts where task orders are not competitively awarded and separately priced but instead are used as a funding mechanism, and where there is a basis for estimating future revenues and funding on future anticipated task orders.
As of June 28, 2024, we had $13.8 billion of RPO and expect to recognize approximately 63% and 79% over the next 12 months and 24 months, respectively, with the remainder to be recognized thereafter.
Disaggregation of Revenues
We disaggregate revenues by customer-type, contract-type and geographic location for each of our reportable segments.
Disaggregated revenues by customer-type were as follows:
Three Months Ended June 28, 2024
National Security and Digital
Health & Civil
Commercial & International
Defense SystemsTotal
(in millions)
DoD and U.S. Intelligence Community
$1,247 $255 $4 $441 $1,947 
Other U.S. government agencies(1)
520 986 81 24 1,611 
Commercial and non-U.S. customers
28 16 475 30 549 
Total$1,795 $1,257 $560 $495 $4,107 
Three Months Ended June 30, 2023
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
DoD and U.S. Intelligence Community
$1,193 $268 $7 $385 $1,853 
Other U.S. government agencies(1)
555 741 80 30 1,406 
Commercial and non-U.S. customers
31 15 457 51 554 
Total$1,779 $1,024 $544 $466 $3,813 
(1) Includes federal government agencies other than the DoD and U.S. Intelligence Community, as well as state and local government agencies.
Six Months Ended June 28, 2024
National Security and Digital
Health & Civil
Commercial & International
Defense SystemsTotal
(in millions)
DoD and U.S. Intelligence Community$2,468 $512 $14 $866 $3,860 
Other U.S. government agencies(1)
1,045 1,903 154 46 3,148 
Commercial and non-U.S. customers61 32 900 57 1,050 
Total$3,574 $2,447 $1,068 $969 $8,058 
Six Months Ended June 30, 2023
National Security and Digital
Health & Civil
Commercial & International
Defense SystemsTotal
(in millions)
DoD and U.S. Intelligence Community$2,347 $540 $15 $775 $3,677 
Other U.S. government agencies(1)
1,112 1,454 145 60 2,771 
Commercial and non-U.S. customers66 29 873 76 1,044 
Total$3,525 $2,023 $1,033 $911 $7,492 
(1) Includes federal government agencies other than the DoD and U.S. Intelligence Community, as well as state and local government agencies.
Disaggregated revenues by contract-type were as follows:
Three Months Ended June 28, 2024
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
Cost-reimbursement and fixed-price-incentive-fee
$948 $451 $90 $313 $1,802 
Firm-fixed-price494 749 352 143 1,738 
Time-and-materials and fixed-price-level-of-effort
353 57 118 39 567 
Total$1,795 $1,257 $560 $495 $4,107 
Three Months Ended June 30, 2023
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
Cost-reimbursement and fixed-price-incentive-fee
$956 $522 $82 $267 $1,827 
Firm-fixed-price497 454 349 157 1,457 
Time-and-materials and fixed-price-level-of-effort
326 48 113 42 529 
Total$1,779 $1,024 $544 $466 $3,813 
Six Months Ended June 28, 2024
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
Cost-reimbursement and fixed-price-incentive-fee$1,894 $898 $175 $614 $3,581 
Firm-fixed-price986 1,439 671 282 3,378 
Time-and-materials and fixed-price-level-of-effort694 110 222 73 1,099 
Total$3,574 $2,447 $1,068 $969 $8,058 
Six Months Ended June 30, 2023
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
Cost-reimbursement and fixed-price-incentive-fee$1,883 $1,075 $174 $539 $3,671 
Firm-fixed-price1,004 857 638 291 2,790 
Time-and-materials and fixed-price-level-of-effort638 91 221 81 1,031 
Total$3,525 $2,023 $1,033 $911 $7,492 
Disaggregated revenues by geographic location were as follows:
Three Months Ended June 28, 2024
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
United States
$1,788 $1,255 $227 $479 $3,749 
International
7 2 333 16 358 
Total$1,795 $1,257 $560 $495 $4,107 
Three Months Ended June 30, 2023
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
United States
$1,770 $1,024 $217 $463 $3,474 
International
9 — 327 3 339 
Total$1,779 $1,024 $544 $466 $3,813 
Six Months Ended June 28, 2024
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
United States
$3,558 $2,444 $435 $947 $7,384 
International
16 3 633 22 674 
Total$3,574 $2,447 $1,068 $969 $8,058 
Six Months Ended June 30, 2023
National Security and Digital
Health & Civil
Commercial & International
Defense Systems
Total
(in millions)
United States
$3,505 $2,022 $409 $904 $6,840 
International
20 1 624 7 652 
Total$3,525 $2,023 $1,033 $911 $7,492 
Revenues by customer-type, contract-type and geographic location exclude lease income of $25 million and $49 million for the three and six months ended June 28, 2024, respectively, and $25 million and $45 million for the three and six months ended June 30, 2023, respectively.
Contract Assets and Liabilities
Performance obligations are satisfied either over time as work progresses or at a point in time. Firm-fixed-price contracts are typically billed to the customer using milestone payments while cost-reimbursable and time and materials contracts are typically billed to the customer on a monthly or bi-weekly basis as indicated by the negotiated billing terms and conditions of the contract. As a result, the timing of revenue recognition, customer billings and cash collections for each contract results in a net contract asset or liability at the end of each reporting period.
Contract assets consist of unbilled receivables, which is the amount of revenue recognized that exceeds the amount billed to the customer. Unbilled receivables exclude amounts billable where the right to consideration is solely subject to the passage of time. Contract liabilities consist of deferred revenue, which represents cash advances received prior to performance for programs and billings in excess of revenue recognized.
The components of contract assets and contract liabilities consisted of the following:
Balance sheet line itemJune 28,
2024		December 29,
2023
(in millions)
Contract assets - current:
Unbilled receivablesReceivables, net$1,136 $1,041 
Contract liabilities - current:
Deferred revenue(1)
Accounts payable and accrued liabilities$296 $442 
Contract liabilities - non-current:
Deferred revenue(1)
Other long-term liabilities$16 $21 
(1) Certain contracts record revenue net of cost of revenues, and therefore, the respective deferred revenue balance will not fully convert to revenue.
The increase in unbilled receivables was primarily due to revenue recognized on certain contracts, partially offset by the timing of billings. The decrease in deferred revenue was primarily due to revenue recognized during the period, offset by the timing of advanced payments from customers.
For the three and six months ended June 28, 2024, $54 million and $211 million, respectively, of revenue recognized was included as a contract liability at December 29, 2023. For the three and six months ended June 30, 2023, $32 million and $187 million, respectively, of revenue recognized was included as a contract liability at December 30, 2022.