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REVENUE RECOGNITION (Tables)

6 Months Ended

Jun. 30, 2024

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)						2024						2023						2024						2023
Sales Type
Product						$	4,468					$	3,754					$	8,541					$	6,955
Service						502						462						970						883
HVAC sales						4,970						4,216						9,511						7,838
Product						851						858						1,623						1,645
Service						122						114						234						225
Refrigeration sales						973						972						1,857						1,870
Product						809						869						1,634						1,682
Service						62						63						124						119
Fire & Security sales						871						932						1,758						1,801
Total segment sales						6,814						6,120						13,126						11,509
Eliminations and other						(125)						(128)						(255)						(244)
Net sales						$	6,689					$	5,992					$	12,871					$	11,265

Schedule of Contract Assets and Liabilities

Total contract assets and contract liabilities consisted of the following:

(In millions)						June 30, 2024						December 31, 2023
Contract assets						$	333					$	306
Contract assets, non-current (included within Other assets)						40						26
Total contract assets						373						332
Contract liabilities						(493)						(425)
Contract liabilities, non-current (included within Other long-term liabilities)						(161)						(160)
Total contract liabilities						(654)						(585)
Net contract assets (liabilities)						$	(281)					$	(253)

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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