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REVENUE RECOGNITION (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Sales Disaggregated by Product and Service

Sales disaggregated by product and service are as follows:

						Three Months Ended June 30,												Six Months Ended June 30,
(In millions)						2023						2022						2023						2022
Sales Type
Product						$	3,754					$	3,005					$	6,955					$	5,644
Service						462						383						883						714
HVAC sales						4,216						3,388						7,838						6,358
Product						858						925						1,645						1,792
Service						114						116						225						225
Refrigeration sales						972						1,041						1,870						2,017
Product						869						838						1,682						1,609
Service						63						49						119						96
Fire & Security sales						932						887						1,801						1,705
Total segment sales						6,120						5,316						11,509						10,080
Eliminations and other						(128)						(105)						(244)						(215)
Net sales						$	5,992					$	5,211					$	11,265					$	9,865

Schedule of Contract Assets and Liabilities

Total contract assets and contract liabilities consisted of the following:

(In millions)						June 30, 2023						December 31, 2022
Contract assets, current						$	578					$	537
Contract assets, non-current (included within Other assets)						8						6
Total contract assets						586						543
Contract liabilities, current						(483)						(449)
Contract liabilities, non-current (included within Other long-term liabilities)						(170)						(174)
Total contract liabilities						(653)						(623)
Net contract assets (liabilities)						$	(67)					$	(80)

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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- References

No definition available.

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