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Progress Collections and Deferred Income
9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Progress Collections and Deferred Income REVENUE RELATED TO CONTRACTS WITH CUSTOMERS
DISAGGREGATED REVENUE
We disaggregate our revenue from contracts with customers by primary geographic markets.
Three Months Ended September 30,Nine Months Ended September 30,
Total Revenue2022202120222021
U.S.$1,286 $1,199 $3,611 $3,337 
Non-U.S.4,083 3,894 11,640 11,680 
Total$5,369 $5,093 $15,251 $15,017 
REMAINING PERFORMANCE OBLIGATIONS
As of September 30, 2022 and 2021, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $24.7 billion and $23.5 billion, respectively. As of September 30, 2022, we expect to recognize revenue of approximately 55%, 68% and 87% of the total remaining performance obligations within 2, 5, and 15 years, respectively, and the remaining thereafter. Contract modifications could affect both the timing to complete as well as the amount to be received as we fulfill the related remaining performance obligations.
PROGRESS COLLECTIONS AND DEFERRED INCOME
Contract liabilities include progress collections, which reflects billings in excess of revenue, and deferred income on our long-term contracts to construct technically complex equipment, long-term product maintenance or extended warranty arrangements. Contract liabilities are comprised of the following:
September 30, 2022December 31, 2021
Progress collections$3,144 $3,108 
Deferred income118 124 
Progress collections and deferred income (contract liabilities)$3,262 $3,232 
Revenue recognized during the three months ended September 30, 2022 and 2021 that was included in the contract liabilities at the beginning of the period was $467 million and $448 million, respectively, and $1,720 million and $2,033 million during the nine months ended September 30, 2022 and 2021, respectively.