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Commercial Aerospace Industry Assets and Commitments
 12 Months Ended
Dec. 31, 2021
Other Commitments [Abstract]  
Commercial Aerospace Industry Assets and Commitments COMMERCIAL AEROSPACE INDUSTRY ASSETS AND COMMITMENTS
The ongoing COVID-19 pandemic has negatively affected our business, supply chains, operations and the industries in which we operate. As a result of COVID-19, governments, businesses and individuals have taken actions such as instituting lockdowns, quarantines, border closings and other travel restrictions and requirements, adopting remote working and reducing business and leisure travel, which collectively led to an unprecedented decline in demand for commercial air travel. The unprecedented decrease in air travel adversely affected our airline and airframer customers and their demand for our products and services of our Collins Aerospace and Pratt & Whitney businesses. Refer to “Note 1: Basis of Presentation and Summary of Accounting Principles” for further details. While we have seen indications that commercial air travel is recovering, we continue to closely monitor our commercial aerospace assets for recoverability and our off-balance sheet exposures. The following summarizes certain significant assets and off-balance sheet exposures specifically related to our commercial aerospace customers:
(dollars in millions)20212020
Assets related to commercial aerospace industry customers:
Accounts receivable, net (Note 5)$7,235 $7,239 
Contract assets (Note 6)3,264 2,559 
Customer financing assets (1) (Note 1)
2,945 3,160 
Contract fulfillment costs (Note 1)1,711 1,773 
Guarantees and Commitments related to commercial aerospace industry customers:
Commercial aerospace guarantees (net of reserves and collaboration partners’ share) (Note 18)165 174 
Commercial aerospace commitments (net of collaboration partners’ share) (Note 19)9,659 8,515 
(1)     Customer financing assets is inclusive of both the current and long term balances.
We also have goodwill and intangible assets, including exclusivity assets and collaboration assets, associated with our commercial aerospace business. Refer to “Note 2: Business Acquisitions, Dispositions, Goodwill and Intangible Assets” for further discussion.