v3.23.3

RELATED PARTY TRANSACTIONS | 9 Months Ended
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Sep. 30, 2023
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONSWe have an aeroderivative joint venture ("Aero JV") we formed with General Electric Company ("GE") in 2019. The Aero JV is jointly controlled by GE and us, each with ownership interest of 50%, and therefore, we do not consolidate the JV. We had purchases from the Aero JV of $136 million and $106 million during the three months ended September 30, 2023 and 2022, respectively, and $381 million and $360 million during the nine months ended September 30, 2023 and 2022, respectively. We have $60 million and $110 million of accounts payable at September 30, 2023 and December 31, 2022, respectively, for goods and services provided by the Aero JV in the ordinary course of business. Sales of products and services and related receivables with the Aero JV were immaterial for the three and nine months ended September 30, 2023 and 2022.

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