Annual report pursuant to Section 13 and 15(d)

PRODUCT WARRANTY LIABILITY (Tables)

v2.4.1.9
PRODUCT WARRANTY LIABILITY (Tables)
 12 Months Ended
Dec. 31, 2014
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 recall programs was as follows:
 
 
December 31,
In millions 
 
2014
 
2013
Balance, beginning of year
 
$
1,129

 
$
1,088

Provision for warranties issued
 
411

 
431

Deferred revenue on extended warranty contracts sold
 
263

 
189

Payments
 
(404
)
 
(427
)
Amortization of deferred revenue on extended warranty contracts
 
(148
)
 
(115
)
Changes in estimates for pre-existing warranties
 
41

 
(35
)
Foreign currency translation
 
(9
)
 
(2
)
Balance, end of year
 
$
1,283

 
$
1,129

Warranty related deferred revenue, supplier recovery receivables and the long-term portion of the warranty liability
Warranty related deferred revenue, supplier recovery receivables and the long-term portion of the warranty liability on our Consolidated Balance Sheets were as follows:
 
 
December 31,
 
 
In millions
 
2014
 
2013
 
Balance Sheet Location
Deferred revenue related to extended coverage programs
 
 
 
 
 
 
Current portion
 
$
170

 
$
145

 
Deferred revenue
Long-term portion
 
438

 
349

 
Other liabilities and deferred revenue
Total
 
$
608

 
$
494

 
 
Receivables related to estimated supplier recoveries
 
 
 
 
 
 
Current portion
 
$
12

 
$
5

 
Trade and other receivables
Long-term portion
 
4

 
5

 
Other assets
Total
 
$
16

 
$
10

 
 
Long-term portion of warranty liability
 
$
312

 
$
275

 
Other liabilities and deferred revenue