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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables) | 3 Months Ended
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Mar. 31, 2025
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,
|  |  |  |  | 2025 |  | 2024
Aerospace Technologies |  |  |  |  |  |  |
Commercial Aviation Original Equipment |  |  |  |  | $ | 627 |  |  | $ | 674 |
Commercial Aviation Aftermarket |  |  |  |  | 1,899 |  |  | 1,659 |
Defense and Space |  |  |  |  | 1,646 |  |  | 1,336 |
Net Aerospace Technologies sales |  |  |  |  | 4,172 |  |  | 3,669 |
Industrial Automation |  |  |  |  |  |  |
Sensing and Safety Technologies |  |  |  |  | 423 |  |  | 450 |
Productivity Solutions and Services |  |  |  |  | 269 |  |  | 322 |
Process Solutions |  |  |  |  | 1,468 |  |  | 1,496 |
Warehouse and Workflow Solutions |  |  |  |  | 218 |  |  | 210 |
Net Industrial Automation sales |  |  |  |  | 2,378 |  |  | 2,478 |
Building Automation |  |  |  |  |  |  |
Products |  |  |  |  | 1,029 |  |  | 813 |
Building Solutions |  |  |  |  | 663 |  |  | 613 |
Net Building Automation sales |  |  |  |  | 1,692 |  |  | 1,426 |
Energy and Sustainability Solutions |  |  |  |  |  |  |
UOP |  |  |  |  | 664 |  |  | 577 |
Advanced Materials |  |  |  |  | 897 |  |  | 948 |
Net Energy and Sustainability Solutions sales |  |  |  |  | 1,561 |  |  | 1,525 |
Corporate and All Other |  |  |  |  | 19 |  |  | 7 |
Net sales |  |  |  |  | $ | 9,822 |  |  | $ | 9,105 |
The disaggregation of the Company's revenue based off timing of recognition is as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Products, transferred point in time |  |  |  |  | 57 | % |  | 58 | %
Products, transferred over time |  |  |  |  | 11 |  |  | 11 |
Net product sales |  |  |  |  | 68 |  |  | 69 |
Services, transferred point in time |  |  |  |  | 5 |  |  | 5 |
Services, transferred over time |  |  |  |  | 27 |  |  | 26 |
Net service sales |  |  |  |  | 32 |  |  | 31 |
Net sales |  |  |  |  | 100 | % |  | 100 | %
Contract with Customer Asset and Liability | The following table summarizes the Company's contract assets and liabilities balances:
| 2025 |  | 2024
Contract assets—January 1 | $ | 2,207 |  |  | $ | 2,013 |
Contract assets—March 31 | 2,383 |  |  | 1,939 |
Change in contract assets - increase (decrease) | $ | 176 |  |  | $ | (74) |
Contract liabilities—January 1 | $ | (4,220) |  |  | $ | (4,326) |
Contract liabilities—March 31 | (4,300) |  |  | (4,005) |
Change in contract liabilities - (increase) decrease | $ | (80) |  |  | $ | 321 |
Net change | $ | 96 |  |  | $ | 247 |

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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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