CONTRACT AND OTHER DEFERRED ASSETS & PROGRESS COLLECTIONS AND DEFERRED INCOME (Tables)

12 Months Ended

Dec. 31, 2020

Contract with Customer, Asset and Liability


December 31, 2020	Power		Aviation		Renewable Energy		Healthcare		Other		Total
Revenues in excess of billings	$	5,282	$	3,072	$	—	$	—	$	—	$	8,354
Billings in excess of revenues	(1,640)		(5,375)		—		—		—		(7,015)
Long-term service agreements	$	3,642	$	(2,304)	$	—	$	—	$	—	$	1,338
Short-term and other service agreements	129		282		106		173		29		719
Equipment contract revenues	2,015		59		1,127		306		201		3,707
Current contract assets	$	5,786	$	(1,963)	$	1,233	$	479	$	229	$	5,764

Nonrecurring engineering costs(a)	16		2,409		34		31		—		2,490
Customer advances and other(b)	822		2,481		—		128		(32)		3,398
Non-current contract and other deferred assets	$	838	$	4,889	$	34	$	159	$	(32)	$	5,888
Total contract and other deferred assets	$	6,623	$	2,927	$	1,268	$	638	$	197	$	11,653


December 31, 2019	Power		Aviation		Renewable Energy		Healthcare		Other		Total
Revenues in excess of billings	$	5,342	$	4,480	$	—	$	—	$	—	$	9,822
Billings in excess of revenues	(1,561)		(4,914)		—		—		—		(6,476)
Long-term service agreements	$	3,781	$	(435)	$	—	$	—	$	—	$	3,346
Short-term and other service agreements	190		316		43		169		—		717
Equipment contract revenues	1,599		82		1,217		324		106		3,327
Current contract assets	$	5,569	$	(37)	$	1,260	$	492	$	106	$	7,390

Nonrecurring engineering costs(a)	$	44	$	2,257	$	47	$	35	$	8	$	2,391
Customer advances and other(b)	909		2,313		—		156		(32)		3,346
Non-current contract and other deferred assets	$	953	$	4,570	$	47	$	190	$	(24)	$	5,737
Total contract and other deferred assets	$	6,522	$	4,533	$	1,307	$	683	$	82	$	13,127

(a)Included costs incurred prior to production (such as requisition engineering) for equipment production contracts, primarily within our Aviation segment, which are allocated ratably to each unit produced.

(b)Included amounts due from customers at Aviation for the sales of engines, spare parts and services, and at Power, for the sale of services upgrades, which we collect through incremental fixed or usage-based fees from servicing the equipment under long-term service agreements. We have reclassified certain prior-year amounts from the long-term service agreements and equipment contract revenues line items in the table above to conform with the current year’s presentation.


December 31, 2020	Power		Aviation		Renewable Energy		Healthcare		Other		Total
Progress collections on equipment contracts	$	4,918	$	214	$	1,229	$	—	$	—	$	6,362
Other progress collections	458		4,623		4,604		414		(4)		10,096
Total progress collections	$	5,376	$	4,837	$	5,834	$	414	$	(4)	$	16,458
Current deferred income	17		132		194		1,309		105		1,757
Progress collections and deferred income	$	5,393	$	4,969	$	6,028	$	1,724	$	102	$	18,215
Non-current deferred income	116		898		214		564		10		1,801
Total progress collections and deferred income	$	5,509	$	5,867	$	6,241	$	2,288	$	112	$	20,016


December 31, 2019
Progress collections on equipment contracts	$	5,857	$	115	$	1,268	$	—	$	—	$	7,240
Other progress collections	413		4,748		4,193		305		2		9,662
Total progress collections	$	6,270	$	4,863	$	5,461	$	305	$	2	$	16,902
Current deferred income	18		90		140		1,180		59		1,487
Progress collections and deferred income	$	6,288	$	4,953	$	5,602	$	1,485	$	61	$	18,389
Non-current deferred income	31		874		144		467		39		1,555
Total progress collections and deferred income	$	6,319	$	5,827	$	5,745	$	1,952	$	100	$	19,944