SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Intangible Assets

The Company uses the following useful lives for its definite-lived intangible assets:

Definite-Lived Intangible Asset Type	Useful Life
Patents	Up to the date the patent expires
Tradenames and trademarks	Up to 20 years
Licensing agreements	Up to 20 years
Customer relationships	Up to 15 years
Developed technology	Up to 15 years

Schedule of Property, Plant and Equipment

Except for leasehold improvements, depreciation and amortization is computed by the straight-line method over the assets estimated useful lives:

Property, Plant and Equipment Assets Type	Useful Life
Buildings	40 years
Machinery and Equipment	4 to 15 years
Capitalized Software	2 to 10 years
Leasehold Improvements	Shorter of the estimated useful life or the term of the lease

Property, plant and equipment, net, were as follows:

	Year Ended December 31,
(in millions)	2023		2022
Land	$	49	$	48
Buildings and improvements	568		546
Machinery and equipment	964		963
Capitalized software	446		400
Construction in progress	138		116
	$	2,165	$	2,073
Less: Accumulated depreciation and amortization	1,365		1,312
Property, plant and equipment, net	$	800	$	761

Schedule of Warranty Expense and Accrual

The Company’s warranty expense and warranty accrual were as follows:

	December 31,
(in millions)	2023		2022		2021
Warranty Expense	$	48	$	27	$	44
Warranty Accrual	24		22		28