REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

See the following table and related discussions by operating segment for details.

	Three Months Ended March 31,
	2022			2021
Aerospace
Commercial Aviation Original Equipment		$	478		$	431
Commercial Aviation Aftermarket		1,168			910
Defense and Space		1,103			1,291
		2,749			2,632
Honeywell Building Technologies
Products		879			784
Building Solutions		550			574
		1,429			1,358
Performance Materials and Technologies
UOP		480			527
Process Solutions		1,152			1,096
Advanced Materials		821			723
		2,453			2,346
Safety and Productivity Solutions
Safety and Retail		511			743
Productivity Solutions and Services		391			346
Warehouse and Workflow Solutions		599			831
Advanced Sensing Technologies		243			198
		1,744			2,118
Corporate and All Other		1			—
Net sales		$	8,376		$	8,454

The disaggregation of the Company's revenue based off timing of recognition is as follows:

	Three Months Ended March 31,
	2022			2021
Products, transferred point in time		59	%		58	%
Products, transferred over time		14			18
Net product sales		73			76
Services, transferred point in time		8			7
Services, transferred over time		19			17
Net service sales		27			24
Net sales		100	%		100	%

Contract with Customer Asset and Liability

The following table summarizes the Company's contract assets and liabilities balances: 

	2022			2021
Contract assets - January 1		$	2,060		$	1,618
Contract assets - March 31		2,170			1,789
Change in contract assets - increase (decrease)		$	110		$	171
Contract liabilities - January 1		$	(4,290)		$	(4,033)
Contract liabilities - March 31		(4,323)			(3,994)
Change in contract liabilities - decrease (increase)		$	(33)		$	39
Net change		$	77		$	210

Revenue Remaining Performance Obligation Expected Timing of Satisfaction

The following table outlines the Company's remaining performance obligations disaggregated by segment: 

	March 31, 2022
Aerospace		$	10,211
Honeywell Building Technologies		7,177
Performance Materials and Technologies		7,245
Safety and Productivity Solutions		3,861
Corporate and All Other(1)		1
Total Performance Obligations		$	28,495

(1) The remaining performance obligations within Corporate and All Other relate to the Quantinuum business.