PRODUCT WARRANTY (Tables)

12 Months Ended

Dec. 31, 2022

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Liability

The following table summarizes the activity in the product warranty accrual accounts:

(in millions)	2022		2021
Beginning balance, January 1	$	236	$	253
Acquisitions/dispositions	—		4
Provisions for current period sales	103		83
Adjustments of prior estimates1	14		142
Payments1	(96)		(240)
Other, primarily translation adjustment	(12)		(6)
Ending balance, December 31	$	245	$	236

_____________________________

1    In December 2021, the Company settled and paid a warranty claim for $130 million. The Company had been working with an OEM customer through the warranty process during 2021, and in December 2021, as a result of discussions that occurred in the fourth quarter, the Company (without admission of liability) and the customer reached an agreement to fully resolve the claim for $130 million. This resulted in an adjustment to prior estimates of $124 million during the year ended December 31, 2021. The Company is pursuing a partial recovery of this claim through its insurance coverage. No amounts have been recorded to date and there can be no assurance that there will be any recovery.

The product warranty liability is classified in the Consolidated Balance Sheets as follows:

	December 31,
(in millions)	2022		2021
Other current liabilities	$	142	$	128
Other non-current liabilities	103		108
Total product warranty liability	$	245	$	236