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Contract Asset & Liability (Tables)
12 Months Ended
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)20242023
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)20242023
Revenue recognized in advance of customer billings$30,226 $26,481 
Progress payments(15,656)(14,342)
Total contract assets$14,570 $12,139