CURRENT AND LONG-TERM RECEIVABLES

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

CURRENT AND LONG-TERM RECEIVABLES

NOTE 4. CURRENT AND LONG-TERM RECEIVABLES

CURRENT RECEIVABLES
December 31	2022		2021
Customer receivables	$	14,916	$	13,079
Revenue sharing program receivables(a)	1,326		1,166
Non-income based tax receivables	1,320		1,222
Supplier advances	711		596
Receivables from disposed businesses	115		148
Other sundry receivables	447		483
Allowance for credit losses(b)	(859)		(1,074)
Total current receivables	$	17,976	$	15,620

(a) Revenue sharing program receivables in Aerospace are amounts due from third parties who participate in engine programs by developing and supplying certain engine components through the life of the program. The participants share in program revenues, receive a share of customer progress payments and share costs related to discounts and warranties.

(b) Allowance for credit losses decreased primarily due to write-offs, recoveries and foreign currency impact, partially offset by net new provisions of $48 million.

December 31	2022		2021
Aerospace	$	7,784	$	5,812
Renewable Energy	2,415		2,218
Power	4,229		4,092
HealthCare	3,354		3,255
Corporate	195		244
Total current receivables	$	17,976	$	15,620

Sales of customer receivables. Previously, GE businesses sold customer receivables to our Working Capital Solutions (WCS) business. These programs were discontinued in 2021. Separately, the Company from time to time sells current or long-term receivables to third parties in response to customer-sponsored requests or programs, to facilitate sales, or for risk mitigation purposes. Activity related to current customer receivables sold by GE businesses is as follows:

	2022		2021
	Third Parties		WCS		Third Parties
Balance at January 1	$	161	$	3,618	$	2,992
GE businesses sales to WCS	—		13,773		—
GE businesses sales to third parties(a)	2,061		—		1,415
WCS sales to third parties	—		(10,816)		10,816
Collections and other	(2,163)		(6,676)		(15,062)
Reclassification from long-term customer receivables	41		100		—
Balance at December 31	$	100	$	—	$	161

(a) The Company sold current customer receivables to third parties related primarily to our participation in customer-sponsored supply chain finance programs. Within these programs, primarily in Renewable Energy and Aerospace, the Company has no continuing involvement, fees associated with the transferred receivables are covered by the customer and cash is received at the original invoice due date.

LONG-TERM RECEIVABLES
December 31	2022		2021
Long-term customer receivables(a)	$	535	$	521
Financing receivables	386		592
Supplier advances	277		309
Non-income based tax receivables	241		245
Receivables from disposed businesses	51		150
Sundry receivables	406		440
Allowance for credit losses	(223)		(160)
Total long-term receivables	$	1,672	$	2,097

(a) The Company sold $86 million and $53 million of long-term customer receivables to third parties for the years ended December 31, 2022 and 2021, respectively, primarily in our Gas Power business for risk mitigation purposes.