Quarterly report pursuant to Section 13 or 15(d)

PRODUCT WARRANTY LIABILITY (Tables)

v3.23.3
PRODUCT WARRANTY LIABILITY (Tables)
 9 Months Ended
Sep. 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:
Nine months ended
September 30,
In millions 2023 2022
Balance, beginning of year $ 2,477  $ 2,425 
Provision for base warranties issued 458  395 
Deferred revenue on extended warranty contracts sold 244  215 
Provision for product campaigns issued 17  132 
Payments made during period (429) (476)
Amortization of deferred revenue on extended warranty contracts (226) (220)
Changes in estimates for pre-existing product warranties and campaigns 19  (80)
Acquisitions —  144 
Foreign currency translation adjustments and other (2) 19 
Balance, end of period $ 2,558  $ 2,554 
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,
2023		 December 31,
2022		 Balance Sheet Location
Deferred revenue related to extended coverage programs    
Current portion $ 282  $ 290  Current portion of deferred revenue
Long-term portion 739  717  Deferred revenue
Total $ 1,021  $ 1,007   
Product warranty    
Current portion $ 731  $ 726  Current portion of accrued product warranty
Long-term portion 806  744  Other liabilities
Total $ 1,537  $ 1,470   
Total warranty accrual $ 2,558  $ 2,477