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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)
 9 Months Ended
Sep. 30, 2024
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,
2024202320242023
Aerospace Technologies
Commercial Aviation Original Equipment$617 $563 $1,959 $1,711 
Commercial Aviation Aftermarket1,758 1,634 5,215 4,590 
Defense and Space1,537 1,302 4,298 3,650 
Net Aerospace Technologies sales3,912 3,499 11,472 9,951 
Industrial Automation
Sensing and Safety Technologies452 498 1,368 1,509 
Productivity Solutions and Services289 304 909 994 
Process Solutions1,522 1,493 4,527 4,460 
Warehouse and Workflow Solutions238 335 681 1,197 
Net Industrial Automation sales2,501 2,630 7,485 8,160 
Building Automation
Products1,059 894 2,780 2,720 
Building Solutions686 636 1,962 1,807 
Net Building Automation sales1,745 1,530 4,742 4,527 
Energy and Sustainability Solutions
UOP654 668 1,830 1,856 
Advanced Materials909 883 2,862 2,723 
Net Energy and Sustainability Solutions sales1,563 1,551 4,692 4,579 
Corporate and All Other7 2 19 5 
Net sales$9,728 $9,212 $28,410 $27,222 
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,
2024202320242023
Products, transferred point in time56 %57 %57 %58 %
Products, transferred over time12 11 11 12 
Net product sales68 68 68 70 
Services, transferred point in time3 12 4 10 
Services, transferred over time29 20 28 20 
Net service sales32 32 32 30 
Net sales100 %100 %100 %100 %
Contract with Customer Asset and Liability
The following table summarizes the Company's contract assets and liabilities balances:
 20242023
Contract assets—January 1$2,013 $2,294 
Contract assets—September 301
2,263 2,418 
Change in contract assets—increase (decrease)$250 $124 
Contract liabilities—January 1$(4,326)$(4,583)
Contract liabilities—September 302
(3,928)(4,081)
Change in contract liabilities—decrease (increase)$398 $502 
Net change$648 $626 
1
As of September 30, 2024, contract assets excludes $4 million that are included in Assets held for sale in the Consolidated Balance Sheet. Refer to Note 3.
2
As of September 30, 2024, contract liabilities excludes $18 million that are included in Liabilities held for sale in the Consolidated Balance Sheet. Refer to Note 3.
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, 2024
Aerospace Technologies$15,109 
Industrial Automation5,677 
Building Automation8,536 
Energy and Sustainability Solutions4,988 
Corporate and All Other1
27 
Total performance obligations$34,337 
1
The remaining performance obligations within Corporate and All Other relate to the Quantinuum business.