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CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Change in Carrying Amount of Contract Assets and Contract Liabilities

The change in the carrying amount of contract assets and contract liabilities for the nine months ended September 30, 2023 and 2022 is as follows:

			Contract Assets
In millions			2023						2022
Balance at beginning of year			$	706					$	545
Recognized in current year			562						463
Reclassified to accounts receivable			(456)						(344)
Acquisitions/adjustments			(2)						28
Foreign currency impact			(4)						(36)
Balance at September 30			$	806					$	656
			Contract Liabilities
In millions			2023						2022
Balance at beginning of year			$	956					$	824
Recognized in current year			1,043						768
Amounts in beginning balance reclassified to revenue			(632)						(348)
Current year amounts reclassified to revenue			(393)						(343)
Acquisitions			1						12
Foreign currency impact			(6)						(33)
Balance at September 30			$	969					$	880

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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
-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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- References

No definition available.

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