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Contract Asset & Liability (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Contract with Customer, Asset and Liability | Total contract assets and contract liabilities as of December 31, 2024 and 2023 were as follows:
(dollars in millions) | 2024 |  | 2023
Contract assets | $ | 14,570 |  |  | $ | 12,139 |
Contract liabilities | (18,616) |  |  | (17,183) |
Net contract liabilities | $ | (4,046) |  |  | $ | (5,044) |
Costs in Excess of Billings and Billings in Excess of Costs | Contract assets consisted of the following at December 31:
(dollars in millions) | 2024 |  | 2023
Revenue recognized in advance of customer billings | $ | 30,226 |  |  | $ | 26,481 |
Progress payments | (15,656) |  |  | (14,342) |
Total contract assets | $ | 14,570 |  |  | $ | 12,139 |

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- Definition Tabular disclosure for billings on uncompleted contracts in excess of costs and costs of uncompleted contracts in excess of billings. + References No definition available. + Details
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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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