COMMITMENTS AND CONTINGENCIES |
9 Months Ended | ||||||||||||||||||||||||||||||||||||
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Sep. 30, 2022 | |||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
| COMMITMENTS AND CONTINGENCIES | NOTE 9. COMMITMENTS AND CONTINGENCIES For a description of our litigation and contingencies and additional information about our leases, refer to Note 16 and Note 10, respectively, in our 2021 Annual Report on Form 10-K. Warranty We generally accrue estimated warranty costs at the time of sale. In general, manufactured products are warranted against defects in material and workmanship when properly used for their intended purpose, installed correctly, and appropriately maintained. Warranty period terms depend on the nature of the product and range from 90 days up to the life of the product. The amount of the accrued warranty liability is determined based on historical information such as past experience, product failure rates or number of units repaired, estimated cost of material and labor, and, in certain instances, estimated property damage. The accrued warranty liability is reviewed on a quarterly basis and may be adjusted as additional information regarding expected warranty costs becomes known. The following is a roll forward of our accrued warranty liability ($ in millions):
Leases Operating lease cost for the three month periods ended September 30, 2022 and October 1, 2021 was $13 million and $15 million, respectively. Operating lease cost for the nine month periods ended September 30, 2022 and October 1, 2021 was $42 million and $45 million, respectively. During the nine month periods ended September 30, 2022 and October 1, 2021, cash paid for operating leases included in operating cash flows was $38 million and $40 million, respectively. Right-of-use assets obtained in exchange for operating lease obligations were $18 million and $24 million during the nine month periods ended September 30, 2022 and October 1, 2021, respectively. Operating lease right-of-use assets and operating lease liabilities are reported on the Consolidated Condensed Balance Sheets within Other assets, Accrued expenses and Other current liabilities and Other long-term liabilities, respectively.
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