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Contract Assets and Liabilities | 12 Months Ended
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Dec. 31, 2019
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customer | CONTRACT ASSETS AND LIABILITIESContract assets reflect revenue recognized and performance obligations satisfied in advance of customer billing. Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. We receive payments from customers based on the terms established in our contracts. Total contract assets and contract liabilities as of December 31, 2019 and 2018 are as follows:
(dollars in millions) | December 31, 2019 |  | December 31, 2018
Total contract assets | $ | 4,462 |  |  | $ | 3,666 |
Total contract liabilities | (9,014) |  |  | (7,818) |
Net contract liabilities | $ | (4,552) |  |  | $ | (4,152) |
Contract assets increased $796 million during the year ended December 31, 2019 due to revenue recognition in excess of customer billings, primarily on Pratt & Whitney military and commercial aftermarket service agreements and various programs at Collins Aerospace Systems. Contract liabilities increased $1,196 million during the year ended December 31, 2019 primarily due to customer billings in excess of revenue recognized on Pratt & Whitney commercial aftermarket service agreements and various programs at Collins Aerospace Systems. We recognized revenu e of $2.9 billion du ring the year ended December 31, 2019 related to contract liabilities as of December 31, 2018.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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