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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)

3 Months Ended

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 Other1			49
Total performance obligations			$	32,012

1 The remaining performance obligations within Corporate and All Other relate to the Quantinuum business.

X

- 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

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X

- 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

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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
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(1)
-SubTopic 10
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

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