CURRENT AND LONG-TERM RECEIVABLES (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Schedule of Receivables

CURRENT RECEIVABLES	September 30, 2022		December 31, 2021
Customer receivables	$	14,382	$	13,079
Revenue sharing program receivables(a)	1,397		1,166
Non-income based tax receivables	1,201		1,222
Supplier advances	585		596
Receivables from disposed businesses	136		148
Other sundry receivables	349		483
Allowance for credit losses(b)	(850)		(1,074)
Total current receivables	$	17,197	$	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 $36 million. 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	—		12,890		—
GE businesses sales to third parties(a)	1,354		—		765
WCS sales to third parties	—		(9,933)		9,933
Collections and other	(1,414)		(6,144)		(11,538)
Reclassification from long-term customer receivables	41		99		—
Balance at September 30	$	142	$	530	$	2,152

(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, primarily in Renewable Energy and Aerospace, 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	September 30, 2022		December 31, 2021
Long-term customer receivables(a)	$	531	$	521
Financing receivables	495		592
Non-income based tax receivables	255		245
Supplier advances	249		309
Receivables from disposed businesses	150		150
Sundry receivables	406		440
Allowance for credit losses	(233)		(160)
Total long-term receivables	$	1,854	$	2,097

(a) The Company sold $85 million and $32 million of long-term customer receivables to third parties in the nine months ended September 30, 2022 and 2021, respectively, primarily in our Gas Power business for risk mitigation purposes.