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Progress Collections and Deferred Income (Tables)
6 Months Ended
Jun. 30, 2020
Revenue Recognition and Deferred Revenue [Abstract]  
Contract liabilities Contract assets are comprised of the following:
June 30, 2020December 31, 2019
Long-term product service agreements $638  $603  
Long-term equipment contracts (1)
1,070  1,097  
Contract assets (total revenue in excess of billings)1,708  1,700  
Deferred inventory costs125  130  
Non-recurring engineering costs42  51  
Contract and other deferred assets$1,875  $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:
June 30, 2020December 31, 2019
Progress collections$3,382  $2,760  
Deferred income125  110  
Progress collections and deferred income (contract liabilities)$3,507  $2,870