REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

See the following table and related discussions by reportable business segment for details.

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Aerospace
Commercial Aviation Original Equipment		$	527		$	436		$	1,005		$	867
Commercial Aviation Aftermarket		1,208			1,015			2,376			1,925
Defense and Space		1,163			1,315			2,266			2,606
		2,898			2,766			5,647			5,398
Honeywell Building Technologies
Products		936			812			1,815			1,596
Building Solutions		595			595			1,145			1,169
		1,531			1,407			2,960			2,765
Performance Materials and Technologies
UOP		565			571			1,045			1,098
Process Solutions		1,179			1,166			2,331			2,262
Advanced Materials		950			815			1,771			1,538
		2,694			2,552			5,147			4,898
Safety and Productivity Solutions
Safety and Retail		488			616			999			1,359
Productivity Solutions and Services		442			386			833			732
Warehouse and Workflow Solutions		640			867			1,239			1,698
Advanced Sensing Technologies		259			214			502			412
		1,829			2,083			3,573			4,201
Corporate and All Other		1			—			2			—
Net sales		$	8,953		$	8,808		$	17,329		$	17,262

The disaggregation of the Company's revenue based off timing of recognition is as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Products, transferred point in time		61	%		58	%		60	%		58	%
Products, transferred over time		14			17			14			18
Net product sales		75			75			74			76
Services, transferred point in time		7			7			8			7
Services, transferred over time		18			18			18			17
Net service sales		25			25			26			24
Net sales		100	%		100	%		100	%		100	%

Contract with Customer Asset and Liability

The following table summarizes the Company's contract assets and liabilities balances: 

	2022			2021
Contract assets - January 1		$	2,060		$	1,618
Contract assets - June 30		2,243			1,868
Change in contract assets - increase (decrease)		$	183		$	250
Contract liabilities - January 1		$	(4,290)		$	(4,033)
Contract liabilities - June 30		(4,329)			(3,740)
Change in contract liabilities - decrease (increase)		$	(39)		$	293
Net change		$	144		$	543

Revenue Remaining Performance Obligation Expected Timing of Satisfaction

The following table outlines the Company's remaining performance obligations disaggregated by segment: 

	June 30, 2022
Aerospace		$	10,538
Honeywell Building Technologies		7,502
Performance Materials and Technologies		7,858
Safety and Productivity Solutions		3,572
Corporate and All Other(1)		3
Total Performance Obligations(2)		$	29,473

(1) The remaining performance obligations within Corporate and All Other relate to the Quantinuum business.

(2) Effective March 31, 2022, performance obligations exclude contracts with customers related to Russia as collectability is not reasonably assured.