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CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables) | 6 Months Ended
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Jun. 30, 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 six months ended June 30, 2024 and 2023 is as follows:
| Contract Assets
In millions | 2024 |  | 2023
Balance at beginning of year | $ | 678 |  |  | $ | 706 |
Recognized in current year | 382 |  |  | 358 |
Reclassified to accounts receivable | (353) |  |  | (208) |
Acquisitions/adjustments | — |  |  | (2) |
Foreign currency impact | (8) |  |  | 5 |
Balance at June 30 | $ | 699 |  |  | $ | 859 |
| Contract Liabilities
In millions | 2024 |  | 2023
Balance at beginning of year | $ | 1,082 |  |  | $ | 956 |
Recognized in current year | 734 |  |  | 561 |
Amounts in beginning balance reclassified to revenue | (388) |  |  | (439) |
Current year amounts reclassified to revenue | (359) |  |  | (149) |
Acquisitions | — |  |  | 1 |
Foreign currency impact | (20) |  |  | 4 |
Balance at June 30 | $ | 1,049 |  |  | $ | 934 |

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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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