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Accrued Liabilities, Commitments and Contingencies
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Accrued Liabilities, Commitments and Contingencies Accrued Liabilities, Commitments and Contingencies
Accrued Liabilities
The components of Accrued liabilities are as follows (in millions):
December 31,
20232022
Unremitted cash collections due to banks on factored accounts receivable$112 $130 
Payroll and benefits83 90 
Settlement45 180 
Current portion of lease liabilities42 37 
Customer rebates40 55 
Incentive compensation47 107 
Warranty27 26 
Exit and restructuring22 9 
Freight and duty10 19 
Foreign exchange contracts7 19 
Other69 72 
Accrued liabilities$504 $744 

Warranties
The following table is a summary of the Company’s accrued warranty obligations (in millions):
 Year Ended December 31,
Warranty Reserve202320222021
Balance at the beginning of the year$26 $26 $24 
Warranty expense29 29 33 
Warranties fulfilled(28)(29)(31)
Balance at the end of the year$27 $26 $26 

Commitments
The Company has a limited number of multi-year purchase commitments, primarily related to semiconductors and cloud services, which contain minimum purchase requirements and are non-cancellable. Commitments under these multi-year contracts, which exclude routine purchase orders for goods and services, are as follows (in millions):

2024$31 
202546 
202647 
Thereafter— 
Total$124 

We record a liability for non-cancellable purchase commitments for quantities in excess of our forecasted demand consistent with the assessment of net realizable value of our inventory. As of December 31, 2023, the liability for these purchase commitments was $11 million and is included within Current liabilities on the Consolidated Balance Sheets. In addition, the Company recorded a $10 million charge in the current year, associated with the partial cancellation of a purchase commitment, which is also included within Current liabilities on the Consolidated Balance Sheets as of December 31, 2023. There were no significant liabilities related to purchase commitments as of December 31, 2022.

Contingencies
The Company is subject to a variety of investigations, claims, suits, and other legal proceedings that arise from time to time in the ordinary course of business, including but not limited to, intellectual property, employment, tort, and breach of contract matters. The Company currently believes that the outcomes of such proceedings, individually and in the aggregate, will not have a material adverse impact on its business, cash flows, financial position, or results of operations. Any legal proceedings are subject to inherent uncertainties, and the Company’s view of these matters and their potential effects may change in the future. The Company records a liability for contingencies when a loss is deemed to be probable and the loss can be reasonably estimated.

During the second quarter of 2022, the Company entered into a License and Settlement Agreement (“Settlement”) to resolve certain patent-related litigation. The payment terms under the Settlement consisted of 8 quarterly payments of $45 million that began in the second quarter of 2022. The final remaining quarterly payment will be paid in the first quarter of 2024 and is included within Accrued liabilities on the Consolidated Balance Sheets.