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CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables) | 12 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
Summary of Contract with Customer, Asset and Liability | The following table reconciles the changes in the Company’s contract assets and liabilities as follows:
|  | Contract Assets
In millions |  | 2022 |  | 2021
Balance at beginning of year |  | $ | 545 |  |  | $ | 544 |
Acquisitions |  | 28 |  |  | — |
Recognized in current year |  | 730 |  |  | 617 |
Reclassified to accounts receivable |  | (581) |  |  | (602) |
Foreign currency impact |  | (16) |  |  | (14) |
Balance at end of year |  | $ | 706 |  |  | $ | 545 |
|  | Contract Liabilities
In millions |  | 2022 |  | 2021
Balance at beginning of year |  | $ | 824 |  |  | $ | 832 |
Acquisitions |  | 13 |  |  | 2 |
Recognized in current year |  | 1,067 |  |  | 740 |
Amounts in beginning balance reclassified to revenue |  | (410) |  |  | (463) |
Current year amounts reclassified to revenue |  | (528) |  |  | (273) |
Foreign currency impact |  | (10) |  |  | (14) |
Balance at end of year |  | $ | 956 |  |  | $ | 824 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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- References No definition available. + Details
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