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DIVESTITURES
 6 Months Ended
Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
DIVESTITURES DIVESTITURES
Access Solutions

On June 2, 2024, the Company completed the sale of Access Solutions for cash proceeds of $5.0 billion. Access Solutions, historically reported in the Company's Fire & Security segment, is a global supplier of physical security and digital access solutions supporting the hospitality, commercial, education and military markets. The Company recognized a gain on the sale of $2.9 billion, which is included in Other income (expense), net on the accompanying Unaudited Condensed Consolidated Statement of Operations. The net proceeds received are subject to working capital and other adjustments provided in the stock purchase agreement governing the sale of Access Solutions.
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, net90 
Inventories, net43 
Contract assets3 
Other current assets3 
Fixed assets, net18 
Intangible assets, net53 
Goodwill1,467 
Operating lease right-of-use assets16 
Other assets8 
Total assets held for sale$1,783 
Accounts payable$54 
Accrued liabilities20 
Contract liabilities60 
Operating lease liabilities17 
Other long-term liabilities10 
Total liabilities held for sale$161 

Commercial Refrigeration and Industrial Fire

On December 12, 2023, the Company entered into a stock purchase agreement to sell the CCR business to Haier Group Corporation for an enterprise value of approximately $775 million. CCR, historically reported in the Company's Refrigeration segment, is a global supplier of turnkey solutions for commercial refrigeration systems and services, with a primary focus on serving food retail customers, cold storage facilities and warehouses. As a result, the assets and liabilities of CCR are presented as held for sale in the accompanying Unaudited Condensed Consolidated Balance Sheet as of June 30, 2024 and December 31, 2023, and recorded at the lower of their carrying value or fair value less estimated cost to sell. The transaction is expected to close in 2024 and is subject to customary closing conditions.

The net assets of Industrial Fire met the criteria to be classified as held for sale during the fourth quarter of 2023. Industrial Fire, historically reported in the Company's Fire & Security segment, is a leading manufacturer of a full spectrum of fire detection and suppression solutions and services in critical high-hazard environments, including oil and gas, power generation, marine and offshore facilities, automotive, data centers and aircraft hangars. As a result, the assets and liabilities of Industrial Fire are presented as held for sale in the accompanying Unaudited Condensed Consolidated Balance Sheet as of June 30, 2024 and December 31, 2023, and recorded at the lower of their carrying value or fair value less estimated cost to sell. On March 5, 2024, the Company entered into a stock purchase agreement to sell its Industrial Fire business to Sentinel Capital Partners for an enterprise value of approximately $1.425 billion. The sale of Industrial Fire was completed on July 1, 2024.
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, net207 93 300 
Inventories, net98 72 170 
Contract assets117 51 168 
Other current assets17 5 22 
Fixed assets, net79 24 103 
Intangible assets, net— 2 2 
Goodwill69 452 521 
Operating lease right-of-use assets48 26 74 
Other assets48 2 50 
Total assets held for sale$834 $767 $1,601 
Accounts payable$122 $43 $165 
Accrued liabilities149 55 204 
Contract liabilities24 19 43 
Long-term debt, including current portion7 — 7 
Future pension and post-retirement obligations196 — 196 
Future income tax obligations7 3 10 
Operating lease liabilities36 20 56 
Other long-term liabilities3 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, net274 104 101 479 
Inventories, net84 31 65 180 
Contract assets98 2 42 142 
Other current assets15 3 4 22 
Fixed assets, net78 13 22 113 
Intangible assets, net— 53 2 55 
Goodwill72 1,498 439 2,009 
Operating lease right-of-use assets49 13 28 90 
Other assets44 10 13 67 
Total assets held for sale$845 $1,733 $736 $3,314 
Accounts payable$129 $20 $39 $188 
Accrued liabilities181 21 55 257 
Contract liabilities23 53 22 98 
Long-term debt, including current portion8 — — 8 
Future pension and post-retirement obligations203 — 1 204 
Future income tax obligations4 2 3 9 
Operating lease liabilities40 11 23 74 
Other long-term liabilities3 12 9 24 
Total liabilities held for sale$591 $119 $152 $862