REVENUE

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

C. REVENUE

Our revenues are derived from sales to customers in North America and Internationally, principally Europe. Net sales from these geographic markets, by segment, were as follows, in millions:

	Three Months Ended September 30, 2023
	Plumbing Products		Decorative Architectural Products		Total
Primary geographic markets:
North America	$	814	$	788	$	1,602
International, principally Europe	377		—		377
Total	$	1,191	$	788	$	1,979
	Nine Months Ended September 30, 2023
	Plumbing Products		Decorative Architectural Products		Total
Primary geographic markets:
North America	$	2,428	$	2,447	$	4,875
International, principally Europe	1,210		—		1,210
Total	$	3,638	$	2,447	$	6,085

	Three Months Ended September 30, 2022
	Plumbing Products		Decorative Architectural Products		Total
Primary geographic markets:
North America	$	912	$	880	$	1,792
International, principally Europe	412		—		412
Total	$	1,324	$	880	$	2,204
	Nine Months Ended September 30, 2022
	Plumbing Products		Decorative Architectural Products		Total
Primary geographic markets:
North America	$	2,730	$	2,701	$	5,431
International, principally Europe	1,326		—		1,326
Total	$	4,056	$	2,701	$	6,757

We recognized $8 million of revenue for both the three months ended September 30, 2023 and 2022, related to performance obligations settled in previous quarters of the same year. We recognized $6 million and $11 million of revenue for the three and nine months ended September 30, 2023, respectively, and $5 million and $18 million of revenue for the three and nine months ended September 30, 2022, respectively, related to performance obligations settled in previous years.

Our contract asset balance was $2 million and $1 million at September 30, 2023 and December 31, 2022, respectively. Our contract liability balance was $15 million and $61 million at September 30, 2023 and December 31, 2022, respectively.

C. REVENUE (Concluded)

Changes in the allowance for credit losses deducted from accounts receivable were as follows, in millions:

	Nine Months Ended September 30, 2023		Twelve Months Ended December 31, 2022
Balance at January 1	$	8	$	6
Provision for expected credit losses during the period	4		5
Write-offs charged against the allowance	(4)		(4)
Recoveries of amounts previously written off	1		1
Balance at end of period	$	9	$	8