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Revenue from Contracts with Customers (Tables) | 6 Months Ended
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Jun. 30, 2021
Revenue from Contract with Customer [Abstract] |
Schedule of contract assets and contract liabilities from contracts with customers | The following table provides information about receivables and contract liabilities from our contracts with customers:
(In $ millions) |  | As at June 30, 2021 |  | As at December 31, 2020
Accounts receivable, net |  | 122 |  |  | 125 |
Current contract liabilities (deferred revenue) (1) |  | (24) |  |  | (18) |
Non-current contract liabilities (deferred revenue) (2) |  | (7) |  |  | (13) |
(1) Current contract liabilities balances are included in “Other current liabilities” in our Consolidated Balance Sheet. (2) Non-current contract liabilities balances are included in “Other non-current liabilities” in our Consolidated Balance Sheet. Significant changes in the contract assets and the contract liabilities balances during the six months ended June 30, 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 |  | — |  |  | 15 |  |  | 15 |
Cash received, excluding amounts recognized as revenue |  | — |  |  | (19) |  |  | (19) |
Net contract liability at June 30, 2020 |  | — |  |  | (33) |  |  | (33) |
Significant changes in the contract assets and the contract liabilities balances during the six months ended June 30, 2021 are as follows:
(In $ millions) |  | Contract Assets |  | Contract Liabilities |  | Net Contract Balances
Net contract liability at January 1, 2021 |  | — |  |  | (31) |  |  | (31) |
Amortization of revenue that was included in the beginning contract liability balance |  | — |  |  | 10 |  |  | 10 |
Cash received, excluding amounts recognized as revenue |  | — |  |  | (10) |  |  | (10) |
Net contract liability at June 30, 2021 |  | — |  |  | (31) |  |  | (31) |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + 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=123351226&loc=SL49130551-203045 + Details
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- References No definition available. + Details
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