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CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables) | 12 Months Ended
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Jan. 01, 2021
Revenue from Contract with Customer [Abstract] |
Schedule of Contract Assets and Contract Liabilities | Contract assets and contract liabilities are summarized below:
(In millions) | January 1, 2021 |  | January 3, 2020 |  |
Contract assets | $ | 2,437 |  |  | $ | 2,459 |  |  |
Contract liabilities, current | (1,198) |  |  | (1,214) |  |  |
Contract liabilities, noncurrent(1) | (73) |  |  | (87) |  |  |
Net contract assets | $ | 1,166 |  |  | $ | 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 Consolidated Balance Sheet. The components of contract assets are summarized below:
(In millions) | January 1, 2021 |  | January 3, 2020 |  |
Unbilled contract receivables, gross | $ | 4,192 |  |  | $ | 3,690 |  |  |
Progress payments | (1,755) |  |  | (1,231) |  |  |
| $ | 2,437 |  |  | $ | 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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