CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Contract Liabilities

Contract assets and contract liabilities are summarized below:

(In millions)	December 31, 2021		January 1, 2021
Contract assets	$	3,021	$	2,437
Contract liabilities, current	(1,297)		(1,198)
Contract liabilities, non-current(1)	(107)		(73)
Net contract assets	$	1,617	$	1,166

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(1)The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Consolidated Balance Sheet.

The components of contract assets are summarized below:

(In millions)	December 31, 2021		January 1, 2021
Unbilled contract receivables, gross	$	4,825	$	4,268
Unliquidated progress payments and advances	(1,804)		(1,831)
Contract assets	$	3,021	$	2,437