v3.23.1
PROGRESS COLLECTIONS AND DEFERRED INCOME
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [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:
March 31, 2023December 31, 2022
Progress collections$4,282 $3,713 
Deferred income152 109 
Progress collections and deferred income (contract liabilities)$4,434 $3,822 
Revenue recognized during the three months ended March 31, 2023 and 2022 that was included in the contract liabilities at the beginning of the period was $962 million and $739 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 13. Segment Information" for further details.
Three Months Ended March 31,
Total Revenue20232022
Well Construction$1,061 $883 
Completions, Intervention & Measurements909 781 
Production Solutions938 825 
Subsea & Surface Pressure Systems670 528 
Oilfield Services & Equipment3,577 3,017 
Gas Technology - Equipment827 543 
Gas Technology - Services591 581 
Total Gas Technology1,418 1,124 
Condition Monitoring140 126 
Inspection254 212 
Pumps, Valves & Gears201 221 
PSI & Controls125 136 
Total Industrial Technology721 694 
Industrial & Energy Technology2,138 1,818 
Total$5,716 $4,835 
In addition, management views OFSE segment revenue from contracts with customers by geographic region:
Three Months Ended March 31,
Oilfield Services & Equipment Geographic Revenue20232022
North America$992 $823 
Latin America661 440 
Europe/CIS/Sub-Saharan Africa581 660 
Middle East/Asia1,345 1,094 
Oilfield Services & Equipment$3,577 $3,017 
REMAINING PERFORMANCE OBLIGATIONS
As of March 31, 2023, the aggregate amount of the transaction price allocated to the unsatisfied (or partially unsatisfied) performance obligations was $29.6 billion. As of March 31, 2023, we expect to recognize revenue of approximately 60%, 72% and 90% 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.