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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Aerospace Technologies |  |  |  |  |  |  |
Commercial Aviation Original Equipment | $ | 668 |  |  | $ | 607 |  |  | $ | 1,342 |  |  | $ | 1,148 |
Commercial Aviation Aftermarket | 1,798 |  |  | 1,533 |  |  | 3,457 |  |  | 2,956 |
Defense and Space | 1,425 |  |  | 1,201 |  |  | 2,761 |  |  | 2,348 |
Net Aerospace Technologies sales | 3,891 |  |  | 3,341 |  |  | 7,560 |  |  | 6,452 |
Industrial Automation |  |  |  |  |  |  |
Sensing and Safety Technologies | 466 |  |  | 518 |  |  | 916 |  |  | 1,011 |
Productivity Solutions and Services | 298 |  |  | 329 |  |  | 620 |  |  | 690 |
Process Solutions | 1,509 |  |  | 1,482 |  |  | 3,005 |  |  | 2,967 |
Warehouse and Workflow Solutions | 233 |  |  | 398 |  |  | 443 |  |  | 862 |
Net Industrial Automation sales | 2,506 |  |  | 2,727 |  |  | 4,984 |  |  | 5,530 |
Building Automation |  |  |  |  |  |  |
Products | 908 |  |  | 918 |  |  | 1,721 |  |  | 1,826 |
Building Solutions | 663 |  |  | 592 |  |  | 1,276 |  |  | 1,171 |
Net Building Automation sales | 1,571 |  |  | 1,510 |  |  | 2,997 |  |  | 2,997 |
Energy and Sustainability Solutions |  |  |  |  |  |  |
UOP | 599 |  |  | 623 |  |  | 1,176 |  |  | 1,188 |
Advanced Materials | 1,005 |  |  | 944 |  |  | 1,953 |  |  | 1,840 |
Net Energy and Sustainability Solutions sales | 1,604 |  |  | 1,567 |  |  | 3,129 |  |  | 3,028 |
Corporate and All Other | 5 |  |  | 1 |  |  | 12 |  |  | 3 |
Net sales | $ | 9,577 |  |  | $ | 9,146 |  |  | $ | 18,682 |  |  | $ | 18,010 |
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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Products, transferred point in time | 57 | % |  | 58 | % |  | 57 | % |  | 58 | %
Products, transferred over time | 11 |  |  | 12 |  |  | 11 |  |  | 13 |
Net product sales | 68 |  |  | 70 |  |  | 68 |  |  | 71 |
Services, transferred point in time | 5 |  |  | 11 |  |  | 5 |  |  | 9 |
Services, transferred over time | 27 |  |  | 19 |  |  | 27 |  |  | 20 |
Net service sales | 32 |  |  | 30 |  |  | 32 |  |  | 29 |
Net sales | 100 | % |  | 100 | % |  | 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—June 30 | 2,072 |  |  | 2,438 |
Change in contract assets—increase (decrease) | $ | 59 |  |  | $ | 144 |
Contract liabilities—January 1 | $ | (4,326) |  |  | $ | (4,583) |
Contract liabilities—June 30 | (4,096) |  |  | (4,179) |
Change in contract liabilities—decrease (increase) | $ | 230 |  |  | $ | 404 |
Net change | $ | 289 |  |  | $ | 548 |
Revenue Remaining Performance Obligation Expected Timing of Satisfaction | The following table outlines the Company's remaining performance obligations disaggregated by reportable business segment:
| June 30, 2024 |  |
Aerospace Technologies | $ | 13,724 |  |  |
Industrial Automation | 5,880 |  |  |
Building Automation | 7,707 |  |  |
Energy and Sustainability Solutions | 4,667 |  |  |
Corporate and All Other 1 | 32 |  |  |
Total performance obligations | $ | 32,010 |  |  |
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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