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Contract Assets and Liabilities | 9 Months Ended
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Sep. 30, 2019
Revenue from Contract with Customer [Abstract] |
Contract Assets and Liabilities | Contract Assets and Liabilities Contract assets represent revenue recognized in excess of amounts billed and include unbilled receivables (typically for cost reimbursable contracts) of $584 million and $560 million as of September 30, 2019 and December 31, 2018, respectively, and contract work in progress (typically for fixed-price contracts) of $413 million and $571 million as of September 30, 2019 and December 31, 2018, respectively. Unbilled receivables, which represent an unconditional right to payment subject only to the passage of time, are reclassified to accounts receivable when they are billed under the terms of the contract. Advances that are payments on account of contract assets of $557 million and $444 million as of September 30, 2019 and December 31, 2018, respectively, have been deducted from contract assets. Pre-contract costs are expensed as incurred unless they are expected to be recovered from the client. As of December 31, 2018, the company had $26 million in pre-contract costs classified as a current asset under contract assets on the Condensed Consolidated Balance Sheet. These costs were expensed during the second quarter of 2019 due to the company's continued evaluation of the probability of receiving an award. The company anticipates that substantially all incurred cost associated with contract assets as of September 30, 2019 will be billed and collected within one year. Contract liabilities represent amounts billed to clients in excess of revenue recognized to date. The company recognized revenue of $663 million and $673 million during the nine months ended September 30, 2019 and 2018, respectively, that was included in contract liabilities as of January 1, 2019 and 2018, respectively.

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- Definition Tabular disclosure of contract balances and changes in contract balances. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045 + Details
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