v3.26.1
Contract assets and contract liabilities
6 Months Ended
Jun. 30, 2026
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]  
Contract assets and contract liabilities
Note 17. Contract assets and contract liabilities
Contract balances were as follows:
 
(in millions of $)
  
June 30, 2026
    
December 31, 2025
 
Current
     68.1        58.8  
Non-current
     —         —   
  
 
 
    
 
 
 
Total Contract assets
  
 
68.1
 
  
 
58.8
 
Current
     970.1        546.2  
Non-current
     426.8        269.9  
  
 
 
    
 
 
 
Total Contract liabilities
  
 
1,396.9
 
  
 
816.1
 
 
Contract assets increased $9.3 million
during
the six months ended June 30, 2026, primarily due to revenue recognized for satisfied performance obligations in advance of billing milestones.
Contract liabilities increased $580.8 million
d
u
ring
 the six months ended June 30, 2026, primarily due to new collections received, offset by revenue recognized as performance obligations were satisfied. Revenue recognized that was included in the contract liability balance at the beginning of the year was $300.1 million and $213.4
 
million for the six months ended June 30, 2026 and 2025, respectively. Information about the Company’s performance obligations and the timing of their satisfaction is provided in Note 2 – Revenue from contracts with customers.