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CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables) | 6 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Contract Assets and Contract Liabilities | Contract assets and contract liabilities are summarized below:
(In millions) | June 30, 2023 |  | December 30, 2022
Contract assets | $ | 3,164 |  |  | $ | 2,987 |
Contract liabilities, current | (1,648) |  |  | (1,400) |
Contract liabilities, non-current(1) | (111) |  |  | (117) |
Net contract assets | $ | 1,405 |  |  | $ | 1,470 |
_______________ (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. The components of contract assets are summarized below:
(In millions) | June 30, 2023 |  | December 30, 2022
Unbilled contract receivables, gross | $ | 5,034 |  |  | $ | 4,629 |
Unliquidated progress payments and advances | (1,870) |  |  | (1,642) |
Contract assets | $ | 3,164 |  |  | $ | 2,987 |

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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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- References No definition available. + Details
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