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PRODUCT WARRANTY (Tables)

9 Months Ended

Sep. 30, 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			69						36
Adjustments of prior estimates			17						14
Payments			(90)						(41)
Other, primarily translation adjustment			(2)						2
Ending balance, September 30			$	247					$	127

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

			September 30,						December 31,
(in millions)			2021						2020
Other current liabilities			$	143					$	164
Other non-current liabilities			104						89
Total product warranty liability			$	247					$	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=123368208&loc=d3e12565-110249

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