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Contract Assets and Liabilities | 12 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
Contract Assets and Liabilities | Contract Assets and Liabilities Contract assets and Contract liabilities (included in Accrued liabilities) are reported in the Consolidated Balance Sheets in a net position, on a contract-by-contract basis at the end of each reporting period. Contract assets and contract liabilities are summarized as follows:
(in thousands) |  | December 31, 2022 |  | December 31, 2021
Contract assets |  | $ | 149,443 |  |  | $ | 113,249 |
Allowance for expected credit losses |  | (748) |  |  | (703) |
Contract assets, net |  | $ | 148,695 |  |  | $ | 112,546 |
Contract liabilities |  | $ | 15,176 |  |  | $ | 6,959 |
Contract assets increased $36.1 million during the year ended December 31, 2022. The increase was primarily due to an increase in unbilled revenue related to the satisfaction of performance obligations, notably for the Sikorsky CH-53K program, in excess of the amounts billed. Other than the allowance for expected credit losses, there were no other provisions for losses related to our Contract assets during the years ended December 31, 2022 and 2021. The following tables present the (increases)/ decreases in the allowance for credit losses for Contract assets:
(in thousands) | December 31, 2021 | (Charge)/ benefit | Currency translation | Other | December 31, 2022
Contract assets expected credit losses | $ | (703) |  | $ | (45) |  | $ | — |  | $ | — |  | $ | (748) |
(in thousands) | December 31, 2020 | (Charge)/ benefit | Currency translation | Other | December 31, 2021
Contract assets expected credit losses | $ | (1,059) |  | $ | 339 |  | $ | 16 |  | $ | 1 |  | $ | (703) |
Contract liabilities increased $8.2 million during the year ended December 31, 2022, primarily due to amounts invoiced to customers for contracts that were in a contract liability position exceeding the revenue recognition from satisfied performance obligations. Revenue recognized for the years ended December 31, 2022 and 2021 that was included in the Contract liability balance at the beginning of the year was $5.7 million and $5.8 million, respectively.

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