CURRENT AND LONG-TERM RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Schedule of Receivables and Allowance for Credit Losses

CURRENT RECEIVABLES	March 31, 2024		December 31, 2023
Customer receivables	$	11,952	$	12,349
Revenue sharing program receivables(a)	1,134		1,252
Non-income based tax receivables	1,225		1,140
Supplier advances	924		891
Receivables from disposed businesses	61		121
Other sundry receivables	450		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 LOSSES	March 31, 2024		March 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, 2024		December 31, 2023
Aerospace	$	7,848	$	8,010
Renewable Energy	3,097		2,907
Power	4,332		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.

LONG-TERM RECEIVABLES	March 31, 2024		December 31, 2023
Long-term customer receivables	$	459	$	479
Supplier advances	271		274
Non-income based tax receivables	146		174
Sundry receivables	343		373
Allowance for credit losses	(167)		(171)
Total long-term receivables	$	1,052	$	1,129