Quarterly report pursuant to Section 13 or 15(d)

PRODUCT WARRANTY LIABILITY (Tables)

v2.4.0.6
PRODUCT WARRANTY LIABILITY (Tables)
9 Months Ended
Sep. 30, 2012
PRODUCT WARRANTY LIABILITY  
Summary of activity in the product warranty account

 

 

 

Nine months ended

 

 

 

September 30,

 

September 25,

 

In millions

 

2012

 

2011

 

Balance, beginning of year

 

$

1,014

 

$

980

 

Provision for warranties issued

 

320

 

329

 

Deferred revenue on extended warranty contracts sold

 

154

 

82

 

Payments

 

(294

)

(292

)

Amortization of deferred revenue on extended warranty contracts

 

(77

)

(71

)

Changes in estimates for pre-existing warranties

 

(36

)

(4

)

Foreign currency translation

 

2

 

(6

)

Balance, end of period

 

$

1,083

 

$

1,018

 

 

Warranty related deferred revenue, supplier recovery receivables and the long-term portion of the warranty liability

 

 

 

September 30,

 

 

In millions

 

2012

 

Balance Sheet Location

Deferred revenue related to extended coverage programs

 

 

 

 

Current portion

 

$

106

 

Deferred revenue

Long-term portion

 

284

 

Other liabilities and deferred revenue

Total

 

$

390

 

 

 

 

 

 

 

Receivables related to estimated supplier recoveries

 

 

 

 

Current portion

 

$

6

 

Trade and other receivables

Long-term portion

 

6

 

Other assets

Total

 

$

12

 

 

 

 

 

 

 

Long-term portion of warranty liability

 

$

287

 

Other liabilities and deferred revenue