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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)
 12 Months Ended
Dec. 31, 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:
Years Ended December 31,
 202420232022
Aerospace Technologies 
Commercial Aviation Original Equipment$2,223 $2,397 $2,089 
Commercial Aviation Aftermarket7,144 6,241 5,108 
Defense and Space6,091 4,986 4,630 
Net Aerospace Technologies sales15,458 13,624 11,827 
Industrial Automation
Sensing and Safety Technologies1,824 1,983 2,145 
Productivity Solutions and Services1,202 1,313 1,739 
Process Solutions6,111 6,017 5,446 
Warehouse and Workflow Solutions914 1,443 2,308 
Net Industrial Automation sales10,051 10,756 11,638 
Building Automation
Products3,868 3,583 3,638 
Building Solutions2,672 2,448 2,362 
Net Building Automation sales6,540 6,031 6,000 
Energy and Sustainability Solutions
UOP2,644 2,586 2,404 
Advanced Materials3,781 3,653 3,592 
Net Energy and Sustainability Solutions sales6,425 6,239 5,996 
Corporate and All Other24 12 5 
Net sales$38,498 $36,662 $35,466 
The disaggregation of the Company's revenue based off timing of recognition is as follows:
Years Ended December 31,
 202420232022
Products, transferred point in time57 %58 %59 %
Products, transferred over time11 12 14 
Net product sales68 70 73 
Services, transferred point in time4 10 8 
Services, transferred over time28 20 19 
Net service sales32 30 27 
Net sales100 %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—December 311
2,207 2,013 
Change in contract assets—increase (decrease)194 (281)
Contract liabilities—January 1(4,326)(4,583)
Contract liabilities—December 312
(4,220)(4,326)
Change in contract liabilities—decrease (increase)106 257 
Net change$300 $(24)
1
As of December 31, 2024, contract assets excludes $3 million that are included in Assets held for sale in the Consolidated Balance Sheet. Refer to Note 2 Acquisitions, Divestitures, and Assets and Liabilities Held for Sale.
2
As of December 31, 2024, contract liabilities excludes $21 million that are included in Liabilities held for sale in the Consolidated Balance Sheet. Refer to Note 2 Acquisitions, Divestitures, and Assets and Liabilities Held for Sale.
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction
The following table outlines the Company's remaining performance obligations disaggregated by reportable business segment:
 December 31, 2024
Aerospace Technologies$15,447 
Industrial Automation5,519 
Building Automation8,257 
Energy and Sustainability Solutions6,030 
Corporate and All Other1
24 
Total performance obligations$35,277 
1
The remaining performance obligations within Corporate and All Other relate to the Quantinuum business.