v3.23.1

CONTRACT AND OTHER DEFERRED ASSETS | 3 Months Ended
--- | ---
Mar. 31, 2023
Revenue from Contract with Customer [Abstract] |
CONTRACT AND OTHER DEFERRED ASSETS | CONTRACT AND OTHER DEFERRED ASSETS Contract assets reflect revenue earned in excess of billings on our long-term contracts to construct technically complex equipment, provide long-term product service and maintenance or extended warranty arrangements and other deferred contract related costs. Our long-term product service agreements are provided by our IET segment. Our long-term equipment contracts are provided by both our IET and OFSE segments. Contract assets are comprised of the following:
| March 31, 2023 | December 31, 2022
Long-term product service agreements | $ | 396 |  | $ | 392 |
Long-term equipment contracts and certain other service agreements | 1,034 |  | 955 |
Contract assets (total revenue in excess of billings) | 1,430 |  | 1,347 |
Deferred inventory costs | 142 |  | 125 |
Other costs to fulfill or obtain a contract (1) | 31 |  | 31 |
Contract and other deferred assets | $ | 1,603 |  | $ | 1,503 |
(1) Other costs to fulfill or obtain a contract consist primarily of non-recurring engineering costs incurred and expected to be recovered. Revenue recognized during the three months ended March 31, 2023 and 2022 from performance obligations satisfied (or partially satisfied) in previous periods related to our long-term service agreements was $1 million and $(4) million, respectively. This includes revenue recognized from revisions to cost or billing estimates that may affect a contract’s total estimated profitability resulting in an adjustment of earnings.

X
- Definition The entire disclosure for long-term contracts or programs. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 310 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=84167097&loc=d3e55538-109407 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 405 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126938335&loc=d3e56417-109416 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 275 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126938061&loc=d3e54658-109401 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(d)(ii)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 275 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126938061&loc=d3e54711-109401 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 275 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126938061&loc=d3e54672-109401 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 605 -SubTopic 35 -URI https://asc.fasb.org/subtopic&trid=2197326 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 910 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6471471&loc=d3e48698-109348 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)(c)(3)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 10: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 910 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126937589&loc=SL119991590-234733 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 910 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126937589&loc=SL119991585-234733 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -URI https://asc.fasb.org/topic&trid=2145070 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)(c)(2)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 405 -Section 45 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=126938292&loc=d3e56288-109415 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 275 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126938061&loc=d3e54708-109401 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 310 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=84167097&loc=d3e55562-109407 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 405 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126938335&loc=d3e56414-109416 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 912 -SubTopic 275 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=126938061&loc=d3e54681-109401 + Details
Name: | us-gaap_LongTermContractsOrProgramsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration