v3.26.1
Contract Assets and Liabilities
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Contract Assets and Liabilities Contract Assets and Liabilities
The following summarizes information about our contract assets and liabilities:
(in millions)June 30,
2026		December 31, 2025
Information about contract assets:
Contract assets
Unbilled receivables - reimbursable contracts$1,309 $1,100 
Contract work in progress - lump-sum contracts131 46 
Contract assets$1,440 $1,146 
6ME
June 30,
(in millions)20262025
Information about contract liabilities:
Revenue recognized that was included in contract liabilities as of January 1$545 $481 
We periodically evaluate our project forecasts and the amounts recognized with respect to claims. We include estimated amounts for claims in project revenue to the extent it is probable we will realize those amounts. As of June 30, 2026 and December 31, 2025, we had recorded $228 million and $214 million, respectively, of revenue associated with claims for costs incurred to date. Additional costs, which will increase this balance over time, are expected to be incurred in future periods. We had $96 million and $105 million of back charges that may be disputed as of June 30, 2026 and December 31, 2025, respectively.
Remaining Unsatisfied Performance Obligations
We estimate that our RUPO will be satisfied over the following periods:
(in millions)June 30,
2026
Within 1 year$11,192 
1 to 2 years8,084 
Thereafter6,585 
Total RUPO$25,861