v3.22.4

Progress Collections and Deferred Income | 12 Months Ended
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Dec. 31, 2022
Revenue Recognition and Deferred Revenue [Abstract] |
Progress Collections and Deferred Income | 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 at December 31:
| 2022 | 2021
Progress collections | $ | 3,713 |  | $ | 3,108 |
Deferred income | 109 |  | 124 |
Progress collections and deferred income (contract liabilities) | $ | 3,822 |  | $ | 3,232 |
Revenue recognized during the years ended December 31, 2022 and 2021 that was included in the contract liabilities at the beginning of the year was $2,185 million and $2,398 million, respectively. REVENUE RELATED TO CONTRACTS WITH CUSTOMERS DISAGGREGATED REVENUE We disaggregate our OFSE and IET segment revenue from contracts with customers by product lines. See "Note 15. Segment Information" for further details.
Total Revenue | 2022 | 2021 | 2020
Well Construction | $ | 3,854 |  | $ | 3,301 |  | $ | 3,257 |
Completions, Intervention & Measurements | 3,559 |  | 3,106 |  | 3,614 |
Production Solutions | 3,587 |  | 3,135 |  | 3,269 |
Subsea & Surface Pressure Systems | 2,230 |  | 2,486 |  | 2,844 |
Oilfield Services & Equipment | 13,229 |  | 12,028 |  | 12,984 |
Gas Technology - Equipment | 2,560 |  | 2,916 |  | 2,421 |
Gas Technology - Services | 2,441 |  | 2,700 |  | 2,475 |
Total Gas Technology | 5,002 |  | 5,616 |  | 4,896 |
Condition Monitoring | 545 |  | 562 |  | 581 |
Inspection | 995 |  | 949 |  | 865 |
Pumps, Valves & Gears | 826 |  | 801 |  | 809 |
PSI & Controls | 559 |  | 546 |  | 570 |
Total Industrial Technology | 2,925 |  | 2,857 |  | 2,824 |
Industrial & Energy Technology | 7,926 |  | 8,473 |  | 7,721 |
Total | $ | 21,156 |  | $ | 20,502 |  | $ | 20,705 |
In addition, management views OFSE segment revenue from contracts with customers by geographic region:
Oilfield Services & Equipment Geographic Revenue | 2022 | 2021 | 2020
North America | $ | 3,764 |  | $ | 2,904 |  | $ | 3,107 |
Latin America | 2,099 |  | 1,681 |  | 1,447 |
Europe/CIS/Sub-Saharan Africa | 2,483 |  | 2,865 |  | 2,846 |
Middle East/Asia | 4,883 |  | 4,579 |  | 5,584 |
Oilfield Services & Equipment | $ | 13,229 |  | $ | 12,028 |  | $ | 12,984 |
REMAINING PERFORMANCE OBLIGATIONS As of December 31, 2022 and 2021, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $27.8 billion and $23.6 billion, respectively. As of December 31, 2022, we expect to recognize revenue of approximately 57%, 70% and 88% 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.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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