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DIVESTITURES (Tables) | 6 Months Ended
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Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Disclosure of Long Lived Assets Held-for-sale | The following table summarizes the assets and liabilities of Access Solutions divested as of the date of sale:
(In millions) | June 2, 2024
Cash and cash equivalents | $ | 82 |
Accounts receivable, net | 90 |
Inventories, net | 43 |
Contract assets | 3 |
Other current assets | 3 |
Fixed assets, net | 18 |
Intangible assets, net | 53 |
Goodwill | 1,467 |
Operating lease right-of-use assets | 16 |
Other assets | 8 |
Total assets held for sale | $ | 1,783 |
Accounts payable | $ | 54 |
Accrued liabilities | 20 |
Contract liabilities | 60 |
Operating lease liabilities | 17 |
Other long-term liabilities | 10 |
Total liabilities held for sale | $ | 161 |
The following table summarizes assets and liabilities classified as held for sale:
| June 30, 2024
(In millions) | Commercial Refrigeration |  | Industrial Fire |  | Total
Cash and cash equivalents | $ | 151 |  |  | $ | 40 |  |  | $ | 191 |
Accounts receivable, net | 207 |  |  | 93 |  |  | 300 |
Inventories, net | 98 |  |  | 72 |  |  | 170 |
Contract assets | 117 |  |  | 51 |  |  | 168 |
Other current assets | 17 |  |  | 5 |  |  | 22 |
Fixed assets, net | 79 |  |  | 24 |  |  | 103 |
Intangible assets, net | — |  |  | 2 |  |  | 2 |
Goodwill | 69 |  |  | 452 |  |  | 521 |
Operating lease right-of-use assets | 48 |  |  | 26 |  |  | 74 |
Other assets | 48 |  |  | 2 |  |  | 50 |
Total assets held for sale | $ | 834 |  |  | $ | 767 |  |  | $ | 1,601 |
Accounts payable | $ | 122 |  |  | $ | 43 |  |  | $ | 165 |
Accrued liabilities | 149 |  |  | 55 |  |  | 204 |
Contract liabilities | 24 |  |  | 19 |  |  | 43 |
Long-term debt, including current portion | 7 |  |  | — |  |  | 7 |
Future pension and post-retirement obligations | 196 |  |  | — |  |  | 196 |
Future income tax obligations | 7 |  |  | 3 |  |  | 10 |
Operating lease liabilities | 36 |  |  | 20 |  |  | 56 |
Other long-term liabilities | 3 |  |  | 3 |  |  | 6 |
Total liabilities held for sale | $ | 544 |  |  | $ | 143 |  |  | $ | 687 |
| December 31, 2023
(In millions) | Commercial Refrigeration |  | Access Solutions |  | Industrial Fire |  | Total
Cash and cash equivalents | $ | 131 |  |  | $ | 6 |  |  | $ | 20 |  |  | $ | 157 |
Accounts receivable, net | 274 |  |  | 104 |  |  | 101 |  |  | 479 |
Inventories, net | 84 |  |  | 31 |  |  | 65 |  |  | 180 |
Contract assets | 98 |  |  | 2 |  |  | 42 |  |  | 142 |
Other current assets | 15 |  |  | 3 |  |  | 4 |  |  | 22 |
Fixed assets, net | 78 |  |  | 13 |  |  | 22 |  |  | 113 |
Intangible assets, net | — |  |  | 53 |  |  | 2 |  |  | 55 |
Goodwill | 72 |  |  | 1,498 |  |  | 439 |  |  | 2,009 |
Operating lease right-of-use assets | 49 |  |  | 13 |  |  | 28 |  |  | 90 |
Other assets | 44 |  |  | 10 |  |  | 13 |  |  | 67 |
Total assets held for sale | $ | 845 |  |  | $ | 1,733 |  |  | $ | 736 |  |  | $ | 3,314 |
Accounts payable | $ | 129 |  |  | $ | 20 |  |  | $ | 39 |  |  | $ | 188 |
Accrued liabilities | 181 |  |  | 21 |  |  | 55 |  |  | 257 |
Contract liabilities | 23 |  |  | 53 |  |  | 22 |  |  | 98 |
Long-term debt, including current portion | 8 |  |  | — |  |  | — |  |  | 8 |
Future pension and post-retirement obligations | 203 |  |  | — |  |  | 1 |  |  | 204 |
Future income tax obligations | 4 |  |  | 2 |  |  | 3 |  |  | 9 |
Operating lease liabilities | 40 |  |  | 11 |  |  | 23 |  |  | 74 |
Other long-term liabilities | 3 |  |  | 12 |  |  | 9 |  |  | 24 |
Total liabilities held for sale | $ | 591 |  |  | $ | 119 |  |  | $ | 152 |  |  | $ | 862 |

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- Definition Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-3 + Details
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- References No definition available. + Details
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