SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of Contact Liabilities

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

	December 31, 2023		September 30, 2024
Current portion of lease liabilities and other current liabilities	$	88	$	96
Other non-current liabilities	133		187
Total contract liabilities	$	221	$	283

Schedule of Warranty and Field Service Actions

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		September 30, 2024
Current portion of lease liabilities and other current liabilities	$	91	$	118
Other non-current liabilities	184		329
Total warranty reserve	$	275	$	447

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

	Three Months Ended September 30, 2024		Nine Months Ended September 30, 2024
Beginning balance	$	389	$	275
Warranties issued in period	70		176
Adjustments to pre-existing warranties1	4		43
Warranty costs incurred	(16)		(47)
Ending balance	$	447	$	447
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.