XML 33 R7.htm IDEA: XBRL DOCUMENT v3.22.1
REVENUE RECOGNITION
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregation of Revenue
The following table presents our disaggregated revenues by revenue source. We sell products within all product categories in each operating segment. For additional information on the disaggregated revenues by geographic regions, see Note 14 to the Consolidated Condensed Financial Statements.
Three Months Ended March 31,
Millions of dollars20222021
Major product categories:
Laundry$1,333 $1,569 
Refrigeration1,528 1,627 
Cooking1,281 1,247 
Dishwashing450 515 
Total major product category net sales $4,592 $4,958 
Spare parts and warranties234 266 
Other94 134 
Total net sales$4,920 $5,358 
The impact to revenue related to prior period performance obligations is less than 1% of global consolidated revenues for the three months ended March 31, 2022.
Allowance for Expected Credit Losses and Bad Debt Expense
We estimate our expected credit losses primarily by using an aging methodology and establish customer-specific reserves for higher risk trade customers. Our expected credit losses are evaluated and controlled within each geographic region considering the unique credit risk specific to the country, marketplace and economic environment. We take into account past events, current conditions and reasonable and supportable forecasts in developing the reserve.
The following table summarizes our allowance for expected credit losses and bad debt by operating segment for the three months ended March 31, 2022:
Millions of dollarsDecember 31, 2021Charged to EarningsWrite-offsForeign CurrencyMarch 31, 2022
Accounts receivable allowance
North America$7 $— (2)— $5 
EMEA45 $7 $— $(2)$50 
Latin America43 — (2)1 $42 
Asia3 $— $— $3 
Consolidated$98 $7 $(4)$(1)$100 
Financing receivable allowance
Latin America$25 $— $— $5 $30 
$25 $— $— $5 $30 
Consolidated$123 $7 $(4)$4 $130 
We recorded an immaterial amount of bad debt expense for the periods ended March 31, 2022 and December 31, 2021, respectively.