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Revenue from Contracts with Customers | 12 Months Ended
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Dec. 31, 2020
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | Revenue from contracts with customers The following table provides information about receivables, contract assets and contract liabilities from our contracts with customers:
(In $ millions) |  | December 31, 2020 |  | December 31, 2019
Accounts receivable, net |  | 125 |  |  | 173 |
Current contract liabilities (deferred revenues) (1) |  | (18) |  |  | (20) |
Non-current contract liabilities (deferred revenues) (1) |  | (13) |  |  | (9) |
(1)Current contract assets and liabilities balances are included in “Other current assets” and “Other current liabilities,” respectively in our Consolidated Balance Sheets as of December 31, 2020. Significant changes in the contract assets and the contract liabilities balances during the year ended December 31, 2019 are as follows:
(In $ millions) |  | Contract Assets |  | Contract Liabilities |  | Net Contract Balances
Net contract liability at January 1, 2019 |  | 1 |  |  | (21) |  |  | (20) |
Amortization of revenue that was included in the beginning contract liability balance |  | — |  |  | 14 |  |  | 14 |
Cash received, excluding amounts recognized as revenue |  | — |  |  | (22) |  |  | (22) |
Cash received against the beginning contract asset balance |  | (1) |  |  | — |  |  | (1) |
Net contract liability at December 31, 2019 |  | — |  |  | (29) |  |  | (29) |
Significant changes in the contract assets and the contract liabilities balances during the year ended December 31, 2020 are as follows:
(In $ millions) |  | Contract Assets |  | Contract Liabilities |  | Net Contract Balances
Net contract liability at January 1, 2020 |  | — |  |  | (29) |  |  | (29) |
Amortization of revenue that was included in the beginning contract liability balance |  | — |  |  | 23 |  |  | 23 |
Cash received, excluding amounts recognized as revenue |  | — |  |  | (25) |  |  | (25) |
Net contract liability at December 31, 2020 |  | — |  |  | (31) |  |  | (31) |
Deferred revenue - The deferred revenue balance o f $18 million reported in "Other current liabilities" at December 31, 2020 is expected to be realized within the next twelve months and $13 million reported in "Other non-current liabilities" is expected to be realized within the following next twelve months. The deferred revenue consists primarily of mobilization and upgrade revenue for both wholly and partially unsatisfied performance obligations as well as expected variable mobilization and upgrade revenue for partially unsatisfied performance obligations, which has been estimated for purpose s of allocating across the entire corresponding 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 http://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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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