CURRENT AND LONG-TERM RECEIVABLES

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

CURRENT AND LONG-TERM RECEIVABLES

NOTE 4. CURRENT AND LONG-TERM RECEIVABLES

CURRENT RECEIVABLES	June 30, 2022		December 31, 2021
Customer receivables	$	13,523	$	13,079
Non-income based tax receivables	1,319		1,222
Revenue sharing program receivables(a)	1,293		1,166
Supplier advances	473		596
Receivables from disposed businesses	138		148
Other sundry receivables	473		483
Allowance for credit losses(b)	(938)		(1,074)
Total current receivables	$	16,283	$	15,620

(a) Revenue sharing program receivables in Aerospace are amounts due from third parties who participate in engine programs by developing and supplying certain engine components through the life of the program. The participants share in program revenues, receive a share of customer progress payments and share costs related to discounts and warranties.

(b) Allowance for credit losses decreased primarily due to write-offs, recoveries and foreign currency impact, partially offset by net new provisions of $79 million.

Sales of customer receivables. Previously, GE businesses sold customer receivables to our Working Capital Solutions (WCS) business. These programs were discontinued in 2021. Separately, the Company from time to time sells current or long-term receivables to third parties in response to customer-sponsored requests or programs, to facilitate sales, or for risk mitigation purposes. Activity related to current customer receivables sold by GE businesses is as follows:

	2022		2021
	Third Parties		WCS		Third Parties
Balance at January 1	$	161	$	3,618	$	2,992
GE businesses sales to WCS	—		9,783		—
GE businesses sales to third parties(a)	958		—		453
WCS sales to third parties	—		(6,763)		6,763
Collections and other	(1,004)		(5,859)		(8,077)
Reclassification from long-term customer receivables	41		86		—
Balance at June 30	$	156	$	865	$	2,131

(a) The Company sold current customer receivables to third parties related primarily to our participation in customer-sponsored supply chain finance programs. Within these programs, the Company has no continuing involvement, fees associated with the transferred receivables are covered by the customer and cash is received at the original invoice due date.

LONG-TERM RECEIVABLES	June 30, 2022		December 31, 2021
Long-term customer receivables(a)	$	567	$	521
Financing receivables	536		592
Supplier advances	268		309
Non-income based tax receivables	232		245
Receivables from disposed businesses	150		150
Sundry receivables	416		440
Allowance for credit losses	(239)		(160)
Total long-term receivables	$	1,931	$	2,097

(a) The Company sold $81 million and $31 million of long-term customer receivables to third parties in the six months ended June 30, 2022 and 2021, respectively, primarily in our Gas Power business for risk mitigation purposes.