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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables) | 6 Months Ended
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Jun. 30, 2022
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | See the following table and related discussions by reportable business segment for details.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 | 2021 |  | 2022 | 2021
Aerospace |  |  |  |  |  |  |  |  |
Commercial Aviation Original Equipment |  | $ | 527 |  |  | $ | 436 |  |  |  | $ | 1,005 |  |  | $ | 867 |
Commercial Aviation Aftermarket |  | 1,208 |  |  | 1,015 |  |  |  | 2,376 |  |  | 1,925 |
Defense and Space |  | 1,163 |  |  | 1,315 |  |  |  | 2,266 |  |  | 2,606 |
|  | 2,898 |  |  | 2,766 |  |  |  | 5,647 |  |  | 5,398 |
Honeywell Building Technologies |  |  |  |  |  |  |  |  |
Products |  | 936 |  |  | 812 |  |  |  | 1,815 |  |  | 1,596 |
Building Solutions |  | 595 |  |  | 595 |  |  |  | 1,145 |  |  | 1,169 |
|  | 1,531 |  |  | 1,407 |  |  |  | 2,960 |  |  | 2,765 |
Performance Materials and Technologies |  |  |  |  |  |  |  |  |
UOP |  | 565 |  |  | 571 |  |  |  | 1,045 |  |  | 1,098 |
Process Solutions |  | 1,179 |  |  | 1,166 |  |  |  | 2,331 |  |  | 2,262 |
Advanced Materials |  | 950 |  |  | 815 |  |  |  | 1,771 |  |  | 1,538 |
|  | 2,694 |  |  | 2,552 |  |  |  | 5,147 |  |  | 4,898 |
Safety and Productivity Solutions |  |  |  |  |  |  |  |  |
Safety and Retail |  | 488 |  |  | 616 |  |  |  | 999 |  |  | 1,359 |
Productivity Solutions and Services |  | 442 |  |  | 386 |  |  |  | 833 |  |  | 732 |
Warehouse and Workflow Solutions |  | 640 |  |  | 867 |  |  |  | 1,239 |  |  | 1,698 |
Advanced Sensing Technologies |  | 259 |  |  | 214 |  |  |  | 502 |  |  | 412 |
|  | 1,829 |  |  | 2,083 |  |  |  | 3,573 |  |  | 4,201 |
Corporate and All Other |  | 1 |  |  | — |  |  |  | 2 |  |  | — |
Net sales |  | $ | 8,953 |  |  | $ | 8,808 |  |  |  | $ | 17,329 |  |  | $ | 17,262 |
The disaggregation of the Company's revenue based off timing of recognition is as follows:
| Three Months Ended June 30, |  |  | Six Months Ended June 30,
| 2022 | 2021 |  |  | 2022 | 2021
Products, transferred point in time |  | 61 | % |  | 58 | % |  |  |  | 60 | % |  | 58 | %
Products, transferred over time |  | 14 |  |  | 17 |  |  |  |  | 14 |  |  | 18 |
Net product sales |  | 75 |  |  | 75 |  |  |  |  | 74 |  |  | 76 |
Services, transferred point in time |  | 7 |  |  | 7 |  |  |  |  | 8 |  |  | 7 |
Services, transferred over time |  | 18 |  |  | 18 |  |  |  |  | 18 |  |  | 17 |
Net service sales |  | 25 |  |  | 25 |  |  |  |  | 26 |  |  | 24 |
Net sales |  | 100 | % |  | 100 | % |  |  |  | 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 - June 30 |  | 2,243 |  |  | 1,868 |
Change in contract assets - increase (decrease) |  | $ | 183 |  |  | $ | 250 |
Contract liabilities - January 1 |  | $ | (4,290) |  |  | $ | (4,033) |
Contract liabilities - June 30 |  | (4,329) |  |  | (3,740) |
Change in contract liabilities - decrease (increase) |  | $ | (39) |  |  | $ | 293 |
Net change |  | $ | 144 |  |  | $ | 543 |
Revenue Remaining Performance Obligation Expected Timing of Satisfaction | The following table outlines the Company's remaining performance obligations disaggregated by segment:
| June 30, 2022 |  |
Aerospace |  | $ | 10,538 |  |  |
Honeywell Building Technologies |  | 7,502 |  |  |
Performance Materials and Technologies |  | 7,858 |  |  |
Safety and Productivity Solutions |  | 3,572 |  |  |
Corporate and All Other(1) |  | 3 |  |  |
Total Performance Obligations(2) |  | $ | 29,473 |  |  |
(1) The remaining performance obligations within Corporate and All Other relate to the Quantinuum business. (2) Effective March 31, 2022, performance obligations exclude contracts with customers related to Russia as collectability is not reasonably assured.

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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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 + Details
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