XML 47 R36.htm IDEA: XBRL DOCUMENT

Progress Collections and Deferred Income (Tables)

6 Months Ended

Jun. 30, 2018

Revenue Recognition and Deferred Revenue [Abstract]

Contract liabilities

Contract assets are comprised of the following:



	June 30, 2018			December 31, 2017
Long-term product service agreements	$	593		$	589
Long-term equipment contract revenue ⁽¹⁾	1,059			1,095
Contract assets (total revenue in excess of billings) ⁽²⁾	1,652			1,684
Deferred inventory costs ⁽³⁾	245			360
Non-recurring engineering costs	14			—
Contract and other deferred assets	$	1,911		$	2,044


⁽¹⁾	Reflects revenue earned in excess of billings on our long-term contracts to construct technically complex equipment.


⁽²⁾	Contract assets (total revenue in excess of billings) were $1,233 million as of January 1, 2017.


⁽³⁾	Deferred inventory costs were $276 million as of January 1, 2017, which represents cost deferral for shipped goods and other costs where the criteria for revenue recognition has not yet been met.

Contract liabilities are comprised of the following:



	June 30, 2018			December 31, 2017
Progress collections	$	1,466		$	1,456
Deferred income	164			319
Progress collections and deferred income (contract liabilities) ⁽¹⁾	$	1,630		$	1,775


⁽¹⁾	Progress collections and deferred income (contract liabilities) were $2,038 million at January 1, 2017.