CURRENT AND LONG-TERM RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Schedule of Receivables

CURRENT RECEIVABLES	March 31, 2023		December 31, 2022
Customer receivables	$	11,123	$	11,803
Revenue sharing program receivables(a)	1,336		1,326
Non-income based tax receivables	1,190		1,146
Supplier advances	711		691
Receivables from disposed businesses	245		115
Other sundry receivables	393		518
Allowance for credit losses(b)	(787)		(768)
Total current receivables	$	14,212	$	14,831

(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 increased primarily due to net new provisions of $20 million, partially offset by write-offs, recoveries and foreign currency impact.

	March 31, 2023		December 31, 2022
Aerospace	$	7,667	$	7,784
Renewable Energy	2,129		2,415
Power	3,940		4,229
Corporate	477		404
Total current receivables	$	14,212	$	14,831

LONG-TERM RECEIVABLES	March 31, 2023		December 31, 2022
Long-term customer receivables(a)	$	448	$	457
Supplier advances	279		266
Non-income based tax receivables	236		213
Financing receivables	147		82
Sundry receivables	429		400
Allowance for credit losses	(182)		(183)
Total long-term receivables	$	1,358	$	1,236

(a) The Company sold zero and $79 million of long-term customer receivables to third parties for the three months ended March 31, 2023 and 2022, respectively, primarily in our Gas Power business for risk mitigation purposes.