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COMMITMENTS AND CONTINGENCIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Product Warranty Reserves | The following table summarizes the changes in total product warranty reserves for the periods presented:
|  | Product Warranty
Millions of dollars |  | 2023 |  | 2022
Balance at January (1) |  | $ | 190 |  |  | $ | 286 |
Issuances/accruals during the period |  | 311 |  |  | 267 |
Settlements made during the period/other |  | (303) |  |  | (304) |
Liabilities classified to held for sale (1) |  | 8 |  |  | (59) |
Balance at December 31 |  | $ | 206 |  |  | $ | 190 |
Current portion |  | $ | 136 |  |  | $ | 131 |
Non-current portion |  | 70 |  |  | 59 |
Total |  | $ | 206 |  |  | $ | 190 |
(1)Starting from the fourth quarter of 2022, product warranty reserve, and subsequent movements of the reserve, of our European major domestic appliance business has been transferred to liabilities held for sale.
Schedule of Purchase Obligations | Our expected cash outflows resulting from non-cancellable purchase obligations are summarized by year in the table below. Non-cancellable purchase obligations related to the European major domestic appliance business are excluded from the table below from April 2024 onwards, when the European transaction is expected to be completed.
Millions of dollars |
2024 | $ | 257 |
2025 | 119 |
2026 | 49 |
2027 | 20 |
2028 | 18 |
Thereafter | 44 |
Total purchase obligations | $ | 507 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-8 + Details
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- Definition Tabular disclosure of unconditional purchase obligation not recognized as liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482648/440-10-50-4 + Details
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