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Contract and Other Deferred Assets (Tables) | 6 Months Ended
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Jun. 30, 2022
Revenue from Contract with Customer [Abstract] |
Schedule of Contract Assets | Contract assets are comprised of the following:
| June 30, 2022 | December 31, 2021
Long-term product service agreements | $ | 435 |  | $ | 589 |
Long-term equipment contracts (1) | 952 |  | 825 |
Contract assets (total revenue in excess of billings) | 1,387 |  | 1,414 |
Deferred inventory costs | 128 |  | 156 |
Non-recurring engineering costs | 32 |  | 28 |
Contract and other deferred assets | $ | 1,547 |  | $ | 1,598 |
(1)Reflects revenue earned in excess of billings on our long-term contracts to construct technically complex equipment and certain other service agreements. Contract liabilities are comprised of the following:
| June 30, 2022 | December 31, 2021
Progress collections | $ | 3,173 |  | $ | 3,108 |
Deferred income | 116 |  | 124 |
Progress collections and deferred income (contract liabilities) | $ | 3,289 |  | $ | 3,232 |

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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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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- References No definition available. + Details
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