Quarterly report pursuant to Section 13 or 15(d)

PRODUCT WARRANTY LIABILITY (Tables)

v3.24.3
PRODUCT WARRANTY LIABILITY (Tables)
 9 Months Ended
Sep. 30, 2024
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:
Nine months ended
September 30,
In millions 2024 2023
Balance at beginning of year $ 2,497  $ 2,477 
Provision for base warranties issued 490  458 
Deferred revenue on extended warranty contracts sold 263  244 
Provision for product campaigns issued 48  17 
Payments made during period (533) (429)
Amortization of deferred revenue on extended warranty contracts (222) (226)
Changes in estimates for pre-existing product warranties and campaigns 94  19 
Foreign currency translation adjustments and other (7) (2)
Balance at end of period $ 2,630  $ 2,558 
Warranty related deferred revenue and the long-term portion of the warranty liability
Warranty related deferred revenues and warranty liabilities on our Condensed Consolidated Balance Sheets were as follows:
In millions September 30,
2024		 December 31,
2023		 Balance Sheet Location
Deferred revenue related to extended coverage programs    
Current portion $ 287  $ 279  Current portion of deferred revenue
Long-term portion 811  774  Deferred revenue
Total $ 1,098  $ 1,053   
Product warranty    
Current portion $ 685  $ 667  Current portion of accrued product warranty
Long-term portion 847  777  Other liabilities
Total $ 1,532  $ 1,444   
Total warranty accrual $ 2,630  $ 2,497