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Contract Assets and Contract Liabilities (Tables) | 6 Months Ended
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Jul. 03, 2020
Revenue from Contract with Customer [Abstract] |
Schedule of Contract Assets and Contract Liabilities | Contract assets and contract liabilities are summarized below:
| July 3, 2020 |  | January 3, 2020
| (In millions) |  |
Contract assets | $ | 2,281 |  |  | $ | 2,459 |
Contract liabilities, current | (1,106) |  |  | (1,214) |
Contract liabilities, non-current(1) | (76) |  |  | (87) |
Net contract assets | $ | 1,099 |  |  | $ | 1,158 |
_______________ (1)The non-current portion of contract liabilities is included as a component of the “Other long-term liabilities” line item in our Condensed Consolidated Balance Sheet (Unaudited). The components of contract assets are summarized below:
| July 3, 2020 |  | January 3, 2020
| (In millions) |  |
Unbilled contract receivables, gross | $ | 3,890 |  |  | $ | 3,690 |
Progress payments and advances | (1,609) |  |  | (1,231) |
| $ | 2,281 |  |  | $ | 2,459 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
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- References No definition available. + Details
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