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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables) | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | See the following disaggregated revenue table and related discussions by reportable business segment for details:
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Aerospace Technologies |  |  |  |  |  |  |
Commercial Aviation Original Equipment | $ | 674 |  |  | $ | 541 |  |  |  |  |
Commercial Aviation Aftermarket | 1,659 |  |  | 1,423 |  |  |  |  |
Defense and Space | 1,336 |  |  | 1,147 |  |  |  |  |
Net Aerospace Technologies sales | 3,669 |  |  | 3,111 |  |  |  |  |
Industrial Automation |  |  |  |  |  |  |
Sensing and Safety Technologies | 633 |  |  | 690 |  |  |  |  |
Productivity Solutions and Services | 322 |  |  | 361 |  |  |  |  |
Process Solutions | 1,313 |  |  | 1,288 |  |  |  |  |
Warehouse and Workflow Solutions | 210 |  |  | 464 |  |  |  |  |
Net Industrial Automation sales | 2,478 |  |  | 2,803 |  |  |  |  |
Building Automation |  |  |  |  |  |  |
Products | 813 |  |  | 908 |  |  |  |  |
Building Solutions | 613 |  |  | 579 |  |  |  |  |
Net Building Automation sales | 1,426 |  |  | 1,487 |  |  |  |  |
Energy and Sustainability Solutions |  |  |  |  |  |  |
UOP | 577 |  |  | 565 |  |  |  |  |
Advanced Materials | 948 |  |  | 896 |  |  |  |  |
Net Energy and Sustainability Solutions sales | 1,525 |  |  | 1,461 |  |  |  |  |
Corporate and All Other | 7 |  |  | 2 |  |  |  |  |
Net sales | $ | 9,105 |  |  | $ | 8,864 |  |  |  |  |
The disaggregation of the Company's revenue based off timing of recognition is as follows:
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Products, transferred point in time | 58 | % |  | 58 | % |  |  |  |
Products, transferred over time | 11 |  |  | 13 |  |  |  |  |
Net product sales | 69 |  |  | 71 |  |  |  |  |
Services, transferred point in time | 5 |  |  | 9 |  |  |  |  |
Services, transferred over time | 26 |  |  | 20 |  |  |  |  |
Net service sales | 31 |  |  | 29 |  |  |  |  |
Net sales | 100 | % |  | 100 | % |  |  |  |
Contract with Customer Asset and Liability | The following table summarizes the Company's contract assets and liabilities balances:
| 2024 |  | 2023
Contract assets—January 1 | $ | 2,013 |  |  | $ | 2,294 |
Contract assets—March 31 | 1,939 |  |  | 2,453 |
Change in contract assets—increase (decrease) | $ | (74) |  |  | $ | 159 |
Contract liabilities—January 1 | $ | (4,326) |  |  | $ | (4,583) |
Contract liabilities—March 31 | (4,005) |  |  | (4,291) |
Change in contract liabilities—decrease (increase) | $ | 321 |  |  | $ | 292 |
Net change | $ | 247 |  |  | $ | 451 |
Revenue Remaining Performance Obligation Expected Timing of Satisfaction | The following table outlines the Company's remaining performance obligations disaggregated by reportable business segment:
| March 31, 2024 |  |
Aerospace Technologies | $ | 14,387 |  |  |
Industrial Automation | 6,175 |  |  |
Building Automation | 6,983 |  |  |
Energy and Sustainability Solutions | 4,418 |  |  |
Corporate and All Other 1 | 49 |  |  |
Total performance obligations | $ | 32,012 |  |  |
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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + 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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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