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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables) | 3 Months Ended
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Mar. 31, 2022
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | See the following table and related discussions by operating segment for details.
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 | 2021
Aerospace |  |  |  |  |  |  |  |
Commercial Aviation Original Equipment |  |  |  |  |  | $ | 478 |  |  | $ | 431 |
Commercial Aviation Aftermarket |  |  |  |  |  | 1,168 |  |  | 910 |
Defense and Space |  |  |  |  |  | 1,103 |  |  | 1,291 |
|  |  |  |  |  | 2,749 |  |  | 2,632 |
Honeywell Building Technologies |  |  |  |  |  |  |  |
Products |  |  |  |  |  | 879 |  |  | 784 |
Building Solutions |  |  |  |  |  | 550 |  |  | 574 |
|  |  |  |  |  | 1,429 |  |  | 1,358 |
Performance Materials and Technologies |  |  |  |  |  |  |  |
UOP |  |  |  |  |  | 480 |  |  | 527 |
Process Solutions |  |  |  |  |  | 1,152 |  |  | 1,096 |
Advanced Materials |  |  |  |  |  | 821 |  |  | 723 |
|  |  |  |  |  | 2,453 |  |  | 2,346 |
Safety and Productivity Solutions |  |  |  |  |  |  |  |
Safety and Retail |  |  |  |  |  | 511 |  |  | 743 |
Productivity Solutions and Services |  |  |  |  |  | 391 |  |  | 346 |
Warehouse and Workflow Solutions |  |  |  |  |  | 599 |  |  | 831 |
Advanced Sensing Technologies |  |  |  |  |  | 243 |  |  | 198 |
|  |  |  |  |  | 1,744 |  |  | 2,118 |
Corporate and All Other |  |  |  |  |  | 1 |  |  | — |
Net sales |  |  |  |  |  | $ | 8,376 |  |  | $ | 8,454 |
The disaggregation of the Company's revenue based off timing of recognition is as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 | 2021
Products, transferred point in time |  |  |  |  |  | 59 | % |  | 58 | %
Products, transferred over time |  |  |  |  |  | 14 |  |  | 18 |
Net product sales |  |  |  |  |  | 73 |  |  | 76 |
Services, transferred point in time |  |  |  |  |  | 8 |  |  | 7 |
Services, transferred over time |  |  |  |  |  | 19 |  |  | 17 |
Net service sales |  |  |  |  |  | 27 |  |  | 24 |
Net sales |  |  |  |  |  | 100 | % |  | 100 | %
Contract with Customer Asset and Liability | The following table summarizes the Company's contract assets and liabilities balances:
| 2022 | 2021
Contract assets - January 1 |  | $ | 2,060 |  |  | $ | 1,618 |
Contract assets - March 31 |  | 2,170 |  |  | 1,789 |
Change in contract assets - increase (decrease) |  | $ | 110 |  |  | $ | 171 |
Contract liabilities - January 1 |  | $ | (4,290) |  |  | $ | (4,033) |
Contract liabilities - March 31 |  | (4,323) |  |  | (3,994) |
Change in contract liabilities - decrease (increase) |  | $ | (33) |  |  | $ | 39 |
Net change |  | $ | 77 |  |  | $ | 210 |
Revenue Remaining Performance Obligation Expected Timing of Satisfaction | The following table outlines the Company's remaining performance obligations disaggregated by segment:
| March 31, 2022 |  |
Aerospace |  | $ | 10,211 |  |  |
Honeywell Building Technologies |  | 7,177 |  |  |
Performance Materials and Technologies |  | 7,245 |  |  |
Safety and Productivity Solutions |  | 3,861 |  |  |
Corporate and All Other(1) |  | 1 |  |  |
Total Performance Obligations |  | $ | 28,495 |  |  |
(1) The remaining performance obligations within Corporate and All Other relate to the Quantinuum business.

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
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- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 + Details
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