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OTHER LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2022

Other Liabilities Disclosure [Abstract]

Summary of Other Liabilities

A summary of Other liabilities as of March 31, 2022 and December 31, 2021 is as follows:

			March 31, 2022						December 31, 2021
			(in millions)
Warranty and campaign programs			$	501					$	526
Marketing and sales incentive programs			1,252						1,325
Tax payables			632						671
Accrued expenses and deferred income			511						559
Accrued employee benefits			431						544
Lease liabilities			192						196
Legal reserves and other provisions			219						187
Contract reserve			10						12
Contract liabilities			22						20
Restructuring reserve			27						29
Other			792						692
Total			$	4,589					$	4,761

Summary of Basic Warranty and Accruals for Campaign Programs

A summary of recorded activity for the three months ended March 31, 2022 and 2021 for the basic warranty and accruals for campaign programs are as follows:

			Three Months Ended March 31,
			2022						2021
			(in millions)
Balance at beginning of period			$	526					$	507
Current year additions			68						83
Claims paid			(95)						(84)
Currency translation adjustment and other			2						(7)
Balance at end of period			$	501					$	499

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- References

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- Definition

Tabular disclosure of other liabilities.

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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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