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CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables) | 3 Months Ended
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Mar. 31, 2024
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 three months ended March 31, 2024 and 2023 is as follows:
| Contract Assets
In millions | 2024 |  | 2023
Balance at beginning of year | $ | 678 |  |  | $ | 706 |
Recognized in current year | 175 |  |  | 235 |
Reclassified to accounts receivable | (146) |  |  | (135) |
Acquisitions/adjustments | — |  |  | (2) |
Foreign currency impact | — |  |  | 3 |
Balance at March 31 | $ | 707 |  |  | $ | 807 |
| Contract Liabilities
In millions | 2024 |  | 2023
Balance at beginning of year | $ | 1,082 |  |  | $ | 956 |
Recognized in current year | 242 |  |  | 271 |
Amounts in beginning balance reclassified to revenue | (279) |  |  | (250) |
Current year amounts reclassified to revenue | (114) |  |  | (70) |
Foreign currency impact | (9) |  |  | 7 |
Balance at March 31 | $ | 922 |  |  | $ | 914 |

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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 + Details
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- References No definition available. + Details
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