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COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Reserves

The following table summarizes the changes in total product warranty liability reserves for the periods presented:

						Product Warranty
Millions of dollars						2024						2023
Balance at January 1 (1)						$	206					$	190
Issuances/accruals during the period						72						58
Settlements made during the period/other						(80)						(56)
Liabilities classified to held for sale (1)						3						—
Balance at March 31						$	201					$	192
Current portion						$	128					$	131
Non-current portion						73						61
Total						$	201					$	192

(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.

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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://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

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