10-Q Filing

OTIS WORLDWIDE CORP CIK: 1781335 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001781335-21-000034`
Period End Date	20210331
Filing Date	20210428
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	otis-20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 99 Income Statement 30 Cash Flow Statement 79 Stockholders Equity 34 Comprehensive Income 16

Balance Sheet 99 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for credit loss	`AllowanceForDoubtfulAccountsReceivableCurrent`	$113.00M	USD	Point-in-time
Accounts receivable, allowance for credit loss	`AllowanceForDoubtfulAccountsReceivableCurrent`	$83.00M	USD	Point-in-time
Accounts receivable, allowance for credit loss	`AllowanceForDoubtfulAccountsReceivableCurrent`	$161.00M	USD	Point-in-time
Accounts receivable, allowance for credit loss	`AllowanceForDoubtfulAccountsReceivableCurrent`	$172.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.21B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.13B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.78B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.20B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.73B	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable (net of allowance for expected credit losses of $172 and $161)	`AccountsReceivableNetCurrent`	$3.15B	USD	Point-in-time
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable (net of allowance for expected credit losses of $172 and $161)	`AccountsReceivableNetCurrent`	$3.12B	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	125.00M	shares	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$432.00M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$458.00M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	125.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$686.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$659.00M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$379.00M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$446.00M	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.35B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.49B	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Future income tax benefits	`DeferredIncomeTaxAssetsNet`	$334.00M	USD	Point-in-time
Future income tax benefits	`DeferredIncomeTaxAssetsNet`	$341.00M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $1,127 and $1,197)	`PropertyPlantAndEquipmentNet`	$774.00M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	433.40M	shares	Point-in-time
Fixed assets (net of accumulated depreciation of $1,127 and $1,197)	`PropertyPlantAndEquipmentNet`	$765.00M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	429.10M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$542.00M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	433.40M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$548.00M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	433.80M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$448.00M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	0.00	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockCommonShares`	4.70M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$484.00M	USD	Point-in-time
Goodwill	`Goodwill`	$1.73B	USD	Point-in-time
Goodwill	`Goodwill`	$1.77B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$330.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$310.00M	USD	Point-in-time
Total Assets	`Assets`	$10.51B	USD	Point-in-time
Total Assets	`Assets`	$10.71B	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$341.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$701.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.46B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.45B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.77B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.98B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.54B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.83B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.39B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.67B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.46B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.26B	USD	Point-in-time
Future pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$637.00M	USD	Point-in-time
Future pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$654.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$364.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$367.00M	USD	Point-in-time
Future income tax obligations	`DeferredIncomeTaxLiabilitiesNet`	$321.00M	USD	Point-in-time
Future income tax obligations	`DeferredIncomeTaxLiabilitiesNet`	$300.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$634.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$638.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$13.79B	USD	Point-in-time
Total Liabilities	`Liabilities`	$13.91B	USD	Point-in-time
Commitments and contingent liabilities (Note 18)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 18)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$83.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$65.00M	USD	Point-in-time
Preferred Stock, $0.01 par value, 125 shares authorized; None issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $0.01 par value, 125 shares authorized; None issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common Stock and additional paid-in capital, $0.01 par value, 2,000 shares authorized; 433.8 and 433.4 shares issued, respectively, and 429.1 and 433.4 shares outstanding, respectively	`CommonStockValue`	$68.00M	USD	Point-in-time
Common Stock and additional paid-in capital, $0.01 par value, 2,000 shares authorized; 433.8 and 433.4 shares issued, respectively, and 429.1 and 433.4 shares outstanding, respectively	`CommonStockValue`	$59.00M	USD	Point-in-time
Treasury Stock, 4.7 and 0.0 common shares at average cost, respectively	`TreasuryStockValue`	$300.00M	USD	Point-in-time
Treasury Stock, 4.7 and 0.0 common shares at average cost, respectively	`TreasuryStockValue`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.85B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.08B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-823.00M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-815.00M	USD	Point-in-time
Total Shareholders' (Deficit) Equity	`StockholdersEquity`	$-3.91B	USD	Point-in-time
Total Shareholders' (Deficit) Equity	`StockholdersEquity`	$-3.83B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$548.00M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$559.00M	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.35B	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.28B	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.28B	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.23B	USD	Point-in-time
Total Liabilities and (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$10.71B	USD	Point-in-time
Total Liabilities and (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$10.51B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.41B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.97B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$38.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$35.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$465.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$482.00M	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$2.91B	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$2.57B	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$7.00M	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$-65.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$329.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$509.00M	USD	1 Quarter
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$-3.00M	USD	1 Quarter
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$2.00M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-5.00M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-32.00M	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$327.00M	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$475.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$125.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$123.00M	USD	1 Quarter
Net income	`ProfitLoss`	$202.00M	USD	1 Quarter
Net income	`ProfitLoss`	$352.00M	USD	1 Quarter
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$44.00M	USD	1 Quarter
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$37.00M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLoss`	$308.00M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLoss`	$165.00M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.71	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.71	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter

Cash Flow Statement 79 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$202.00M	USD	1 Quarter
Net income	`ProfitLoss`	$352.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$43.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$51.00M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-28.00M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$16.00M	USD	1 Quarter
Stock compensation cost	`ShareBasedCompensation`	$11.00M	USD	1 Quarter
Stock compensation cost	`ShareBasedCompensation`	$14.00M	USD	1 Quarter
Loss on fixed asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on fixed asset impairment	`AssetImpairmentCharges`	$55.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInReceivables`	$116.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInReceivables`	$14.00M	USD	1 Quarter
Contract assets and liabilities, current	`IncreaseDecreaseInContractWithCustomerAsset`	$-328.00M	USD	1 Quarter
Contract assets and liabilities, current	`IncreaseDecreaseInContractWithCustomerAsset`	$-355.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$39.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$49.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$85.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-61.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-216.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$29.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-160.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-73.00M	USD	1 Quarter
Pension contributions	`PensionContributions`	$13.00M	USD	1 Quarter
Pension contributions	`PensionContributions`	$10.00M	USD	1 Quarter
Other operating activities, net	`ProceedsFromOtherOperatingActivities`	$4.00M	USD	1 Quarter
Other operating activities, net	`ProceedsFromOtherOperatingActivities`	$26.00M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$585.00M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$159.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$39.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$44.00M	USD	1 Quarter
Investments in businesses, net of cash acquired (Note 8)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$5.00M	USD	1 Quarter
Investments in businesses, net of cash acquired (Note 8)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$24.00M	USD	1 Quarter
Investments in equity securities	`PaymentsToAcquireEquityMethodInvestments`	$51.00M	USD	1 Quarter
Investments in equity securities	`PaymentsToAcquireEquityMethodInvestments`	$18.00M	USD	1 Quarter
Receipts (payments) on settlements of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$21.00M	USD	1 Quarter
Receipts (payments) on settlements of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$-8.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-24.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-28.00M	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.00M	USD	1 Quarter
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-92.00M	USD	1 Quarter
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$36.00M	USD	1 Quarter
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$-244.00M	USD	1 Quarter
Proceeds from borrowings (maturities longer than 90 days)	`ProceedsFromIssuanceOfCommercialPaper`	-	USD	1 Quarter
Proceeds from borrowings (maturities longer than 90 days)	`ProceedsFromIssuanceOfCommercialPaper`	$152.00M	USD	1 Quarter
Repayments of borrowings (maturities longer than 90 days)	`RepaymentsOfCommercialPaper`	$250.00M	USD	1 Quarter
Repayments of borrowings (maturities longer than 90 days)	`RepaymentsOfCommercialPaper`	-	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$6.30B	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$199.00M	USD	1 Quarter
Payment of long-term debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$43.00M	USD	1 Quarter
Payment of long-term debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$2.00M	USD	1 Quarter
Net transfers to UTC	`PaymentsForProceedsFromNetParentInvestment`	-	USD	1 Quarter
Net transfers to UTC	`PaymentsForProceedsFromNetParentInvestment`	$6.55B	USD	1 Quarter
Dividends paid on Common Stock	`PaymentsOfDividendsCommonStock`	$87.00M	USD	1 Quarter
Dividends paid on Common Stock	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$300.00M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Dividends paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$21.00M	USD	1 Quarter
Dividends paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$32.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-10.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$22.00M	USD	1 Quarter
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-574.00M	USD	1 Quarter
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-256.00M	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-17.00M	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-50.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-239.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-56.00M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.46B	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.75B	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.22B	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.80B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.46B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.75B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.22B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.80B	USD	Point-in-time
Less: Restricted cash	`RestrictedCash`	$13.00M	USD	Point-in-time
Less: Restricted cash	`RestrictedCash`	$20.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.21B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.78B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.73B	USD	Point-in-time

Stockholders Equity 34 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	1 Quarter
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.35B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.28B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.28B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.23B	USD	Point-in-time
Net income	`ProfitLoss`	$202.00M	USD	1 Quarter
Net income	`ProfitLoss`	$352.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-108.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-21.00M	USD	1 Quarter
Net transfers (to) from UTC	`StockholdersEquityNoteSpinoffTransaction`	$-6.56B	USD	1 Quarter
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$9.00M	USD	1 Quarter
Cash dividends declared ($0.20 per common share)	`DividendsCommonStock`	$87.00M	USD	1 Quarter
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$300.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$32.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$21.00M	USD	1 Quarter
Acquisitions, disposals and other changes in noncontrolling interest	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-12.00M	USD	1 Quarter
Acquisitions, disposals and other changes in noncontrolling interest	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$6.00M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.35B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.28B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.28B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.23B	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$83.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$65.00M	USD	Point-in-time
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-2.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-1.00M	USD	1 Quarter
Acquisitions, disposals and other changes in noncontrolling interest	`RedeemableNoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-17.00M	USD	1 Quarter
Changes in redeemable noncontrolling interest redemption value	`TemporaryEquityAccretionToRedemptionValue`	-	USD	1 Quarter
Changes in redeemable noncontrolling interest redemption value	`TemporaryEquityAccretionToRedemptionValue`	$2.00M	USD	1 Quarter
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$83.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$65.00M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$202.00M	USD	1 Quarter
Net income	`ProfitLoss`	$352.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-122.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-22.00M	USD	1 Quarter
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.00M	USD	1 Quarter
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.00M	USD	1 Quarter
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-4.00M	USD	1 Quarter
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$11.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-110.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-22.00M	USD	1 Quarter
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$330.00M	USD	1 Quarter
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$92.00M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$31.00M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$30.00M	USD	1 Quarter
Comprehensive income attributable to common shareholders	`ComprehensiveIncomeNetOfTax`	$300.00M	USD	1 Quarter
Comprehensive income attributable to common shareholders	`ComprehensiveIncomeNetOfTax`	$61.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.