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DIVESTITURES (Tables)

6 Months Ended

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

X

- 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

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X

- References

No definition available.

+ Details

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