Annual report pursuant to Section 13 and 15(d)

PRODUCT WARRANTY LIABILITY (Tables)

v3.22.0.1
PRODUCT WARRANTY LIABILITY (Tables)
 12 Months Ended
Dec. 31, 2021
Product Warranties Disclosures [Abstract]  
Summary of activity in the product warranty account
A tabular reconciliation of the product warranty liability, including the deferred revenue related to our extended warranty coverage and accrued product campaigns, was as follows:
  December 31,
In millions 2021 2020 2019
Balance, beginning of year $ 2,307  $ 2,389  $ 2,208 
Provision for base warranties issued 503  443  458 
Deferred revenue on extended warranty contracts sold 288  248  356 
Provision for product campaigns issued 346  90  210 
Payments made during period (530) (589) (590)
Amortization of deferred revenue on extended warranty contracts (260) (227) (230)
Changes in estimates for pre-existing product warranties (228) (52) (24)
Foreign currency translation and other (1) 5  1 
Balance, end of year $ 2,425  $ 2,307  $ 2,389 
Deferred Revenue Extended Coverage and Base Warranty Liability, Disclosure
Warranty related deferred revenues and warranty liabilities on our Consolidated Balance Sheets were as follows:
  December 31,  
In millions 2021 2020 Balance Sheet Location
Deferred revenue related to extended coverage programs      
Current portion $ 286  $ 261  Current portion of deferred revenue
Long-term portion 700  700  Deferred revenue
Total $ 986  $ 961   
Product warranty
Current portion $ 755  $ 674  Current portion of accrued product warranty
Long-term portion 684  672  Accrued product warranty
Total $ 1,439  $ 1,346 
Total warranty accrual $ 2,425  $ 2,307