REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

See the following disaggregated revenue table and related discussions by reportable business segment for details:

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Aerospace
Commercial Aviation Original Equipment		$	607		$	527		$	1,148		$	1,005
Commercial Aviation Aftermarket		1,533			1,208			2,956			2,376
Defense and Space		1,201			1,163			2,348			2,266
Net Aerospace sales		3,341			2,898			6,452			5,647
Honeywell Building Technologies
Products		918			936			1,826			1,815
Building Solutions		592			595			1,171			1,145
Net Honeywell Building Technologies sales		1,510			1,531			2,997			2,960
Performance Materials and Technologies
UOP		623			565			1,188			1,045
Process Solutions		1,294			1,179			2,582			2,331
Advanced Materials		944			950			1,840			1,771
Net Performance Materials and Technologies sales		2,861			2,694			5,610			5,147
Safety and Productivity Solutions
Sensing and Safety Technologies		723			748			1,427			1,501
Productivity Solutions and Services		312			449			659			848
Warehouse and Workflow Solutions		398			632			862			1,224
Net Safety and Productivity Solutions sales		1,433			1,829			2,948			3,573
Corporate and All Other		1			1			3			2
Net sales		$	9,146		$	8,953		$	18,010		$	17,329

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,
	2023			2022			2023			2022
Products, transferred point in time		58	%		61	%		58	%		60	%
Products, transferred over time		12			14			13			14
Net product sales		70			75			71			74
Services, transferred point in time		11			7			9			8
Services, transferred over time		19			18			20			18
Net service sales		30			25			29			26
Net sales		100	%		100	%		100	%		100	%

Contract with Customer Asset and Liability

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

	2023			2022
Contract assets—January 1		$	2,294		$	2,060
Contract assets—June 30		2,438			2,243
Change in contract assets - increase (decrease)		$	144		$	183
Contract liabilities—January 1		$	(4,583)		$	(4,290)
Contract liabilities—June 30		(4,179)			(4,329)
Change in contract liabilities - decrease (increase)		$	404		$	(39)
Net change		$	548		$	144

Revenue Remaining Performance Obligation Expected Timing of Satisfaction

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

	June 30, 2023
Aerospace		$	12,794
Honeywell Building Technologies		7,006
Performance Materials and Technologies		8,495
Safety and Productivity Solutions		2,243
Corporate and All Other(1)		4
Total performance obligations		$	30,542

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