CURRENT AND LONG-TERM RECEIVABLES (Tables)

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Schedule of Receivables

CURRENT RECEIVABLES	June 30, 2023		December 31, 2022
Customer receivables	$	11,758	$	11,803
Revenue sharing program receivables(a)	1,250		1,326
Non-income based tax receivables	1,163		1,146
Supplier advances	758		691
Receivables from disposed businesses	238		115
Other sundry receivables	362		518
Allowance for credit losses(b)	(764)		(768)
Total current receivables	$	14,767	$	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 decreased primarily due to write-offs and recoveries, partially offset by net new provisions of $21 million and foreign currency impact.

	June 30, 2023		December 31, 2022
Aerospace	$	8,014	$	7,784
Renewable Energy	2,361		2,415
Power	3,960		4,229
Corporate	432		404
Total current receivables	$	14,767	$	14,831

LONG-TERM RECEIVABLES	June 30, 2023		December 31, 2022
Long-term customer receivables(a)	$	405	$	457
Supplier advances	257		266
Non-income based tax receivables	251		213
Financing receivables	144		82
Sundry receivables	498		400
Allowance for credit losses	(183)		(183)
Total long-term receivables	$	1,372	$	1,236

(a) The Company sold zero and $81 million of long-term customer receivables to third parties for the six months ended June 30, 2023 and 2022, respectively, primarily in our Gas Power business for risk mitigation purposes.