Guarantees

We extend a variety of financial, market value and product performance guarantees to third parties. There have been no material changes to guarantees outstanding since December 31, 2015. The changes in the carrying amount of service and product warranties and product performance guarantees for the six months ended June 30, 2016 and 2015 are as follows:



(Dollars in millions)	2016			2015
Balance as of January 1	$	1,212		$	1,264
Warranties and performance guarantees issued	154			133
Settlements made	(131		)	(136		)
Other	6			(19		)
Balance as of June 30	$	1,241		$	1,242

The amounts above exclude service and product warranties and product performance guarantees related to Sikorsky of approximately $43 million as of June 30, 2015.