v3.22.4
Revenue Related to Contracts With Customers
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue Related to Contracts with Customers 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:
20222021
Progress collections$3,713 $3,108 
Deferred income109 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 Revenue202220212020
Well Construction$3,854 $3,301 $3,257 
Completions, Intervention & Measurements3,559 3,106 3,614 
Production Solutions3,587 3,135 3,269 
Subsea & Surface Pressure Systems2,230 2,486 2,844 
Oilfield Services & Equipment13,229 12,028 12,984 
Gas Technology - Equipment2,560 2,916 2,421 
Gas Technology - Services2,441 2,700 2,475 
Total Gas Technology5,002 5,616 4,896 
Condition Monitoring545 562 581 
Inspection995 949 865 
Pumps, Valves & Gears826 801 809 
PSI & Controls559 546 570 
Total Industrial Technology2,925 2,857 2,824 
Industrial & Energy Technology7,926 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 Revenue202220212020
North America$3,764 $2,904 $3,107 
Latin America2,099 1,681 1,447 
Europe/CIS/Sub-Saharan Africa2,483 2,865 2,846 
Middle East/Asia4,883 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.