OTHER LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2021

Other Liabilities Disclosure [Abstract]

Summary of Other Liabilities

A summary of Other liabilities as of September 30, 2021 and December 31, 2020 is as follows:

	September 30, 2021		December 31, 2020
	(in millions)
Advances on buy-back agreements	$	1,149	$	1,355
Warranty and campaign programs	1,003		995
Marketing and sales incentive programs	1,514		1,324
Tax payables	745		654
Accrued expenses and deferred income	659		672
Accrued employee benefits	880		681
Lease liabilities	402		453
Legal reserves and other provisions	317		332
Contract reserve	390		389
Contract liabilities(1)	1,387		1,381
Restructuring reserve	69		76
Other	1,212		1,100
Total	$	9,727	$	9,412

(1)Contract liabilities include $705 million and $740 million at September 30, 2021 and December 31, 2020, respectively, for future rents related to buy-back agreements.

Summary of Basic Warranty and Accruals for Campaign Programs

A summary of recorded activity for the three and nine months ended September 30, 2021 and 2020 for the basic warranty and accruals for campaign programs are as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(in millions)				(in millions)
Balance at beginning of period	$	1,026	$	903	$	995	$	919
Current year additions	188		180		601		522
Claims paid	(172)		(171)		(523)		(493)
Currency translation adjustment and other	(39)		20		(70)		(16)
Balance at end of period	$	1,003	$	932	$	1,003	$	932