Annual report pursuant to Section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.10.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]  
Schedule of Cash Flow, Supplemental Disclosures The carrying amounts reflected in our Consolidated Balance Sheets for cash and cash equivalents approximate fair value due to the short-term maturity of these investments.
 
 
Years ended December 31,
In millions
 
2018
 
2017
 
2016
Cash payments for income taxes, net of refunds
 
$
699

 
$
622

 
$
430

Cash payments for interest, net of capitalized interest
 
114

 
82

 
68

Contract with Customer, Asset and Liability The following is a summary of our unbilled and deferred revenue and related activity:
In millions
 
December 31,
2018
 
January 1,
2018
Unbilled revenue
 
$
64

 
$
6

Deferred revenue, primarily extended warranty
 
1,156

 
1,052

Revenue recognized (1)
 
(361
)
 
—

____________________________________
(1) Relates to year-to-date revenues recognized from amounts included in deferred revenue at the beginning of the year. Revenue recognized in the period from performance obligations satisfied in previous periods was immaterial.
ASU 2017-07 - Presentation of Net Periodic Pension and Post-retirement Benefit Costs  
New Accounting Pronouncements or Change in Accounting Principle [Line Items]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles As a result, we revised our Consolidated Statements of Income by the following amounts:
 
 
Favorable / (Unfavorable)
In millions
 
2017
 
2016
Cost of sales
 
$
10

 
$
6

Selling, general and administrative expenses
 
(39
)
 
(53
)
Research, development and engineering expenses
 
(2
)
 
(1
)
Total change in operating income
 
(31
)
 
(48
)
Other non-operating income, net
 
31

 
48

Total change in income before income taxes
 
$
—

 
$
—