REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

See the following disaggregated revenue table and related discussions by reportable business segment for details:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Aerospace
Commercial Aviation Original Equipment	$	563	$	538	$	1,711	$	1,543
Commercial Aviation Aftermarket	1,634		1,339		4,590		3,715
Defense and Space	1,302		1,099		3,650		3,365
Net Aerospace sales	3,499		2,976		9,951		8,623
Honeywell Building Technologies
Products	894		915		2,720		2,730
Building Solutions	636		611		1,807		1,756
Net Honeywell Building Technologies sales	1,530		1,526		4,527		4,486
Performance Materials and Technologies
UOP	668		633		1,856		1,677
Process Solutions	1,316		1,141		3,898		3,472
Advanced Materials	883		946		2,723		2,718
Net Performance Materials and Technologies sales	2,867		2,720		8,477		7,867
Safety and Productivity Solutions
Sensing and Safety Technologies	675		709		2,071		2,165
Productivity Solutions and Services	304		435		994		1,328
Warehouse and Workflow Solutions	335		583		1,197		1,807
Net Safety and Productivity Solutions sales	1,314		1,727		4,262		5,300
Corporate and All Other	2		2		5		4
Net sales	$	9,212	$	8,951	$	27,222	$	26,280

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,
	2023		2022		2023		2022
Products, transferred point in time	57	%	61	%	58	%	60	%
Products, transferred over time	11		13		12		14
Net product sales	68		74		70		74
Services, transferred point in time	12		7		10		8
Services, transferred over time	20		19		20		18
Net service sales	32		26		30		26
Net sales	100	%	100	%	100	%	100	%

Contract with Customer Asset and Liability

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

	2023		2022
Contract assets—January 1	$	2,294	$	2,060
Contract assets—September 30	2,418		2,239
Change in contract assets—increase (decrease)	$	124	$	179
Contract liabilities—January 1	$	(4,583)	$	(4,290)
Contract liabilities—September 30	(4,081)		(4,177)
Change in contract liabilities—decrease (increase)	$	502	$	113
Net change	$	626	$	292

Revenue Remaining Performance Obligation Expected Timing of Satisfaction

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

	September 30, 2023
Aerospace	$	13,749
Honeywell Building Technologies	7,105
Performance Materials and Technologies	8,331
Safety and Productivity Solutions	2,164
Corporate and All Other1	3
Total performance obligations	$	31,352

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