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CURRENT AND LONG-TERM RECEIVABLES
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
CURRENT AND LONG-TERM RECEIVABLES
NOTE 4. CURRENT AND LONG-TERM RECEIVABLES

CURRENT RECEIVABLESMarch 31, 2024December 31, 2023
Customer receivables$11,952 $12,349 
Revenue sharing program receivables(a)1,134 1,252 
Non-income based tax receivables1,225 1,140 
Supplier advances924 891 
Receivables from disposed businesses61 121 
Other sundry receivables450 360 
Allowance for credit losses(646)(647)
Total current receivables$15,100 $15,466 
(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.

ALLOWANCE FOR CREDIT LOSSESMarch 31, 2024March 31, 2023
Balances as of January 1$647 $768 
New provisions, net of (releases)— 20 
Write-offs, net— (4)
Foreign exchange and other— 4 
Ending balance$646 $787 
March 31, 2024December 31, 2023
Aerospace$7,848 $8,010 
Renewable Energy3,097 2,907 
Power4,332 4,232 
Corporate(a)(177)318 
Total current receivables$15,100 $15,466 
(a) Corporate balances include intercompany eliminations related to the sales of equipment and services.

Sales of customer receivables. From time to time, the Company 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. The Company sold current customer receivables to third parties and subsequently collected $306 million and $464 million in the three months ended March 31, 2024 and 2023, respectively, 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. Included in the sales of customer receivables in the first quarter of 2023, was $77 million in our Gas Power business, primarily for risk mitigation purposes.

LONG-TERM RECEIVABLESMarch 31, 2024December 31, 2023
Long-term customer receivables$459 $479 
Supplier advances271 274 
Non-income based tax receivables146 174 
Sundry receivables343 373 
Allowance for credit losses(167)(171)
Total long-term receivables $1,052 $1,129