Quarterly report pursuant to Section 13 or 15(d)

PRODUCT WARRANTY LIABILITY (Tables)

v3.23.2
PRODUCT WARRANTY LIABILITY (Tables)
 6 Months Ended
Jun. 30, 2023
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:
Six months ended
June 30,
In millions 2023 2022
Balance, beginning of year $ 2,477  $ 2,425 
Provision for base warranties issued 301  267 
Deferred revenue on extended warranty contracts sold 166  145 
Provision for product campaigns issued 12  65 
Payments made during period (283) (289)
Amortization of deferred revenue on extended warranty contracts (152) (146)
Changes in estimates for pre-existing product warranties and campaigns 22  (47)
Acquisitions —  97 
Foreign currency translation adjustments and other 2  9 
Balance, end of period $ 2,545  $ 2,526 
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 June 30,
2023		 December 31,
2022		 Balance Sheet Location
Deferred revenue related to extended coverage programs    
Current portion $ 285  $ 290  Current portion of deferred revenue
Long-term portion 731  717  Deferred revenue
Total $ 1,016  $ 1,007   
Product warranty    
Current portion $ 751  $ 726  Current portion of accrued product warranty
Long-term portion 778  744  Other liabilities
Total $ 1,529  $ 1,470   
Total warranty accrual $ 2,545  $ 2,477