v3.23.3
REVENUE RECOGNITION
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITIONSales are recognized when obligations under the terms of the contract are satisfied and control of promised goods or services have transferred to our customers. Control is transferred when the customer has the ability to direct the use of and obtain benefits from the goods or services. Sales are measured at the amount of consideration the Company expects to be paid in exchange for these products or services.
The following table provides disaggregated sales by lines of businesses, geographic destination, market channel or end market, as applicable, for the Company's operating segments:
Three months ended
September 30		Nine months ended
September 30
(In millions)2023202220232022
Electrical Americas
Products$748 $737 $2,221 $2,034 
Systems1,846 1,442 5,205 4,167 
Total$2,594 $2,179 $7,426 $6,201 
Electrical Global
Products$848 $855 $2,620 $2,609 
Systems655 631 1,952 1,809 
Total$1,503 $1,486 $4,572 $4,418 
Aerospace
Original Equipment Manufacturers$342 $303 $980 $881 
Aftermarket302 256 863 719 
Industrial and Other223 209 674 628 
Total$867 $768 $2,517 $2,227 
Vehicle
Commercial$452 $460 $1,359 $1,307 
Passenger and Light Duty301 284 884 816 
Total$753 $744 $2,242 $2,123 
eMobility$163 $137 $471 $399 
Total net sales$5,880 $5,313 $17,229 $15,368 
Changes in the deferred revenue liabilities are as follows:
(In millions)Deferred Revenue
Balance at January 1, 2023
$508 
Customer deposits and billings1,684 
Revenue recognized in the period(1,563)
Translation1 
Balance at September 30, 2023
$630 
(In millions)Deferred Revenue
Balance at January 1, 2022
$422 
Customer deposits and billings1,135 
Revenue recognized in the period(1,086)
Translation and other(42)
Balance at September 30, 2022
$429 
Deferred revenue liabilities of $610 million and $489 million as of September 30, 2023 and December 31, 2022, respectively, were included in Other current liabilities with the remaining balance presented in Other noncurrent liabilities.
A significant portion of open orders placed with Eaton are by original equipment manufacturers or distributors. These open orders are not considered firm as they have been historically subject to releases by customers. In measuring backlog of unsatisfied or partially satisfied obligations, only the amount of orders to which customers are firmly committed are included. Using this criterion, total backlog at September 30, 2023 was approximately $12.9 billion. At September 30, 2023, approximately 81% of this backlog is targeted for delivery to customers in the next twelve months and the rest thereafter.