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COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2024

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						2024						2023
Balance at January (1)						$	206					$	190
Issuances/accruals during the period						235						311
Settlements made during the period/other						(245)						(303)
Liabilities classified to held for sale (1)						—						8
Balance at December 31						$	196					$	206
Current portion						$	136					$	136
Non-current portion						60						70
Total						$	196					$	206

(1)Liabilities of our European major domestic appliance business were classified as held for sale through closing of the European major domestic appliance transaction on April 1, 2024.

Schedule of Purchase Obligations

Our expected cash outflows resulting from non-cancellable purchase obligations are summarized by year in the table below.

Millions of dollars
2025			179
2026			77
2027			63
2028			50
2029			44
Thereafter			45
Total purchase obligations			458

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- References

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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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- 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

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