SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

Accounting Policies [Abstract]

Schedule of Contract with Customer Liability

The following table summarizes the Company’s contract liabilities recorded by line item on the Condensed Consolidated Balance Sheets (in millions):

	December 31, 2023		June 30, 2024
Current portion of lease liabilities and other current liabilities	$	88	$	91
Other non-current liabilities	133		177
Total contract liabilities	$	221	$	268

Schedule of Product Warranty Liability

The following table summarizes the Company’s warranty and field service action reserve recorded by line item on the Condensed Consolidated Balance Sheets (in millions):

	December 31, 2023		June 30, 2024
Current portion of lease liabilities and other current liabilities	$	91	$	78
Other non-current liabilities	184		311
Total warranty reserve	$	275	$	389

The following table presents the warranty and field service action activity for the three and six months ended June 30, 2024 (in millions):

	Three Months Ended June 30, 2024		Six Months Ended June 30, 2024
Beginning balance	$	317	$	275
Warranties issued in period	57		106
Adjustments to pre-existing warranties¹	33		39
Warranty costs incurred	(18)		(31)
Ending balance	$	389	$	389
1 Primarily due to increased expected costs as a result of the Company’s updated planned repair strategy in the three months ended June 30, 2024.