REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Aerospace
Commercial Aviation Original Equipment		$	538		$	415		$	1,543		$	1,282
Commercial Aviation Aftermarket		1,339			1,083			3,715			3,008
Defense and Space		1,099			1,234			3,365			3,840
		2,976			2,732			8,623			8,130
Honeywell Building Technologies
Products		915			787			2,730			2,383
Building Solutions		611			583			1,756			1,752
		1,526			1,370			4,486			4,135
Performance Materials and Technologies
UOP		633			600			1,677			1,698
Process Solutions		1,141			1,160			3,472			3,422
Advanced Materials		946			750			2,718			2,288
		2,720			2,510			7,867			7,408
Safety and Productivity Solutions
Sensing and Safety Technologies		736			748			2,237			2,520
Productivity Solutions and Services		401			411			1,234			1,144
Warehouse and Workflow Solutions		590			702			1,829			2,398
		1,727			1,861			5,300			6,062
Corporate and All Other		2			—			4			—
Net sales		$	8,951		$	8,473		$	26,280		$	25,735

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Products, transferred point in time		61	%		58	%		60	%		58	%
Products, transferred over time		13			16			14			17
Net product sales		74			74			74			75
Services, transferred point in time		7			9			8			8
Services, transferred over time		19			17			18			17
Net service sales		26			26			26			25
Net sales		100	%		100	%		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 - September 30		2,239			2,087
Change in contract assets - increase (decrease)		$	179		$	469
Contract liabilities - January 1		$	(4,290)		$	(4,033)
Contract liabilities - September 30		(4,177)			(3,840)
Change in contract liabilities - decrease (increase)		$	113		$	193
Net change		$	292		$	662

Revenue Remaining Performance Obligation Expected Timing of Satisfaction

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

	September 30, 2022
Aerospace		$	10,974
Honeywell Building Technologies		7,082
Performance Materials and Technologies		7,811
Safety and Productivity Solutions		3,270
Corporate and All Other(1)		4
Total Performance Obligations(2)		$	29,141

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

(2) Effective March 31, 2022, performance obligations exclude contracts with customers related to Russia as collectability is not reasonably assured.