Contracts in Progress
|12 Months Ended|
Dec. 31, 2022
|Revenue from Contract with Customer [Abstract]|
|Contracts in Progress||Contracts in Progress
Costs and billings on uncompleted construction-type contracts consist of the following (in millions):
The carrying amounts related to uncompleted construction-type contracts are included in the accompanying consolidated balance sheets under the following captions (in millions):
(1)Included in other assets within the consolidated balance sheets.
(2)Included in deferred contract revenue – current within the consolidated balance sheets.
(3)Included in other liabilities within the consolidated balance sheets.
Substantially all of the contract liabilities balance as of June 30, 2021 was recognized as revenue during the Predecessor period from July 1, 2021 to October 19, 2021 and the Successor period from October 20, 2021 to December 31, 2021.
For the year ended December 31, 2022 the Company has recognized revenue of $11.1 million related to the contract liabilities balance as of December 31, 2021.
The entire disclosure for long-term contracts or programs.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef