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CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)

12 Months Ended

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

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- References

No definition available.

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