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Commercial Aerospace Industry Assets and Commitments | 12 Months Ended
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Dec. 31, 2022
Other Commitments [Abstract] |
Commercial Aerospace Industry Assets and Commitments | NOTE 8: COMMERCIAL AEROSPACE INDUSTRY ASSETS AND COMMITMENTS The COVID-19 pandemic continues to negatively affect the global economy, our business and operations, and the industries in which we operate. The pandemic and government, business and individual actions in response, including lockdowns, quarantines, border closings and other travel restrictions and requirements, remote working, facilities closures and reduced business and leisure travel, led to significant declines in demand for commercial air travel. The decrease in commercial air travel decreased demand for our commercial aerospace products and services of our Collins and Pratt & Whitney businesses. Refer to “Note 1: Basis of Presentation and Summary of Accounting Principles” for further details. While we have seen indications that commercial air travel is recovering, we continue to closely monitor our commercial aerospace assets for recoverability and our off-balance sheet exposures. The following summarizes certain significant assets and off-balance sheet exposures specifically related to our commercial aerospace customers as of December 31:
(dollars in millions) | 2022 |  | 2021
Assets related to commercial aerospace industry customers: |  |  |
Accounts receivable, net (Note 5) | $ | 6,653 |  |  | $ | 7,235 |
Contract assets (Note 6) | 4,274 |  |  | 3,264 |
Customer financing assets (1) (Note 1) | 2,700 |  |  | 2,945 |
Contract fulfillment costs (Note 1) | 1,962 |  |  | 1,711 |
Guarantees and commitments related to commercial aerospace industry customers: |  |  |
Commercial aerospace guarantees (net of reserves and collaboration partners’ share) (Note 17) | 164 |  |  | 165 |
Commercial aerospace commitments (net of collaboration partners’ share) (Note 18) | 9,364 |  |  | 9,659 |
(1) Customer financing assets is inclusive of both the current and long term balances. We also have goodwill and intangible assets, including exclusivity assets and collaboration assets, associated with our commercial aerospace business. Refer to “Note 2: Business Acquisitions, Dispositions, Goodwill and Intangible Assets” for further discussion.

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