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PRODUCT WARRANTY (Tables)

3 Months Ended

Mar. 31, 2021

Product Warranties Disclosures [Abstract]

Schedule of product warranty liability

The following table summarizes the activity in the product warranty accrual accounts:

(in millions)			2021						2020
Beginning balance, January 1			$	253					$	116
Provisions for current period sales			28						15
Adjustments of prior estimates			13						5
Payments			(29)						(18)
Translation adjustment			(5)						(2)
Ending balance, March 31			$	260					$	116

The product warranty liability is classified in the Condensed Consolidated Balance Sheets as follows:

			March 31,						December 31,
(in millions)			2021						2020
Accounts payable and accrued expenses			$	155					$	164
Other non-current liabilities			105						89
Total product warranty liability			$	260					$	253

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- References

No definition available.

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- Definition

Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249

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