10-Q Filing

OTIS WORLDWIDE CORP CIK: 1781335 Q3 2021

Filing Information

Form Type	10-Q
Accession Number	`0001781335-21-000062`
Period End Date	20210930
Filing Date	20211026
Fiscal Year	2021
Fiscal Period	Q3
XBRL Instance	otis-20210930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 68 Cash Flow Statement 85 Stockholders Equity 64 Comprehensive Income 32

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for credit loss	`AllowanceForDoubtfulAccountsReceivableCurrent`	$161.00M	USD	Point-in-time
Accounts receivable, allowance for credit loss	`AllowanceForDoubtfulAccountsReceivableCurrent`	$156.00M	USD	Point-in-time
Accounts receivable, allowance for credit loss	`AllowanceForDoubtfulAccountsReceivableCurrent`	$83.00M	USD	Point-in-time
Accounts receivable, allowance for credit loss	`AllowanceForDoubtfulAccountsReceivableCurrent`	$177.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.73B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.55B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.20B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.78B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.17B	USD	Point-in-time
Accounts receivable (net of allowance for expected credit losses of $177 and $161)	`AccountsReceivableNetCurrent`	$3.15B	USD	Point-in-time
Accounts receivable (net of allowance for expected credit losses of $177 and $161)	`AccountsReceivableNetCurrent`	$3.22B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$536.00M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$458.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$628.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$659.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$441.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$446.00M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.49B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.38B	USD	Point-in-time
Future income tax benefits	`DeferredIncomeTaxAssetsNet`	$352.00M	USD	Point-in-time
Future income tax benefits	`DeferredIncomeTaxAssetsNet`	$334.00M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $1,173 and $1,197)	`PropertyPlantAndEquipmentNet`	$775.00M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $1,173 and $1,197)	`PropertyPlantAndEquipmentNet`	$774.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$553.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$542.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$434.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$484.00M	USD	Point-in-time
Goodwill	`Goodwill`	$1.70B	USD	Point-in-time
Goodwill	`Goodwill`	$1.77B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$281.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$310.00M	USD	Point-in-time
Total Assets	`Assets`	$10.47B	USD	Point-in-time
Total Assets	`Assets`	$10.71B	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$38.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$701.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.45B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.66B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.98B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.91B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.76B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.54B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.67B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.36B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.26B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.46B	USD	Point-in-time
Future pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$635.00M	USD	Point-in-time
Future pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$654.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$367.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$364.00M	USD	Point-in-time
Future income tax obligations	`DeferredIncomeTaxLiabilitiesNet`	$321.00M	USD	Point-in-time
Future income tax obligations	`DeferredIncomeTaxLiabilitiesNet`	$274.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$634.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$611.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$13.91B	USD	Point-in-time
Total Liabilities	`Liabilities`	$13.71B	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`	$83.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$96.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$63.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$62.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$98.00M	USD	Point-in-time
Common Stock and additional paid-in capital	`CommonStockValue`	$59.00M	USD	Point-in-time
Common Stock and additional paid-in capital	`CommonStockValue`	$102.00M	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	$725.00M	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.40B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.08B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-815.00M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-827.00M	USD	Point-in-time
Total Shareholders' (Deficit) Equity	`StockholdersEquity`	$-3.83B	USD	Point-in-time
Total Shareholders' (Deficit) Equity	`StockholdersEquity`	$-3.85B	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`	$-3.67B	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.32B	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.48B	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.23B	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.28B	USD	Point-in-time
Total (Deficit) Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.29B	USD	Point-in-time
Total Liabilities and (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$10.47B	USD	Point-in-time
Total Liabilities and (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$10.71B	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.27B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.62B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$9.26B	USD	3 Qtrs
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$10.73B	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$112.00M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$113.00M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$37.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$39.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$481.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.39B	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$479.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.45B	USD	3 Qtrs
Costs and expenses	`CostsAndExpenses`	$9.13B	USD	3 Qtrs
Costs and expenses	`CostsAndExpenses`	$2.81B	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$8.00B	USD	3 Qtrs
Costs and expenses	`CostsAndExpenses`	$3.08B	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$-7.00M	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	-	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$-69.00M	USD	3 Qtrs
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$16.00M	USD	3 Qtrs
Operating profit	`OperatingIncomeLoss`	$454.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.61B	USD	3 Qtrs
Operating profit	`OperatingIncomeLoss`	$542.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.20B	USD	3 Qtrs
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$6.00M	USD	3 Qtrs
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$2.00M	USD	1 Quarter
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$2.00M	USD	1 Quarter
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	-	USD	3 Qtrs
Interest expense (income), net	`InterestIncomeExpenseNet`	$-39.00M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-92.00M	USD	3 Qtrs
Interest expense (income), net	`InterestIncomeExpenseNet`	$-85.00M	USD	3 Qtrs
Interest expense (income), net	`InterestIncomeExpenseNet`	$-33.00M	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$507.00M	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.11B	USD	3 Qtrs
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.51B	USD	3 Qtrs
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$413.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$128.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$103.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$337.00M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$404.00M	USD	3 Qtrs
Net income	`ProfitLoss`	$1.11B	USD	3 Qtrs
Net income	`ProfitLoss`	$379.00M	USD	1 Quarter
Net income	`ProfitLoss`	$777.00M	USD	3 Qtrs
Net income	`ProfitLoss`	$310.00M	USD	1 Quarter
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$44.00M	USD	1 Quarter
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$145.00M	USD	3 Qtrs
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$48.00M	USD	1 Quarter
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$122.00M	USD	3 Qtrs
Net income attributable to common shareholders	`NetIncomeLoss`	$655.00M	USD	3 Qtrs
Net income attributable to common shareholders	`NetIncomeLoss`	$331.00M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLoss`	$965.00M	USD	3 Qtrs
Net income attributable to common shareholders	`NetIncomeLoss`	$266.00M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$2.25	USD	3 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$1.51	USD	3 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$0.61	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.78	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.77	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.51	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$2.23	USD	3 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.61	USD	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	425.80M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	433.10M	shares	3 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	433.20M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	428.50M	shares	3 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	435.10M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	432.00M	shares	3 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	430.60M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	434.10M	shares	3 Qtrs

Cash Flow Statement 85 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.11B	USD	3 Qtrs
Net income	`ProfitLoss`	$379.00M	USD	1 Quarter
Net income	`ProfitLoss`	$777.00M	USD	3 Qtrs
Net income	`ProfitLoss`	$310.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$140.00M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$152.00M	USD	3 Qtrs
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-72.00M	USD	3 Qtrs
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-51.00M	USD	3 Qtrs
Stock compensation cost	`ShareBasedCompensation`	$44.00M	USD	3 Qtrs
Stock compensation cost	`ShareBasedCompensation`	$48.00M	USD	3 Qtrs
Loss on fixed asset impairment	`AssetImpairmentCharges`	-	USD	3 Qtrs
Loss on fixed asset impairment	`AssetImpairmentCharges`	$55.00M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInReceivables`	$79.00M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInReceivables`	$107.00M	USD	3 Qtrs
Contract assets and liabilities, current	`IncreaseDecreaseInContractWithCustomerAsset`	$-140.00M	USD	3 Qtrs
Contract assets and liabilities, current	`IncreaseDecreaseInContractWithCustomerAsset`	$-277.00M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$101.00M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$-18.00M	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-12.00M	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-57.00M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$19.00M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$230.00M	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-29.00M	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-81.00M	USD	3 Qtrs
Pension contributions	`PensionContributions`	$28.00M	USD	3 Qtrs
Pension contributions	`PensionContributions`	$23.00M	USD	3 Qtrs
Other operating activities, net	`ProceedsPaymentsFromOtherOperatingActivities`	$142.00M	USD	3 Qtrs
Other operating activities, net	`ProceedsPaymentsFromOtherOperatingActivities`	$-6.00M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.17B	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.47B	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$115.00M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$112.00M	USD	3 Qtrs
Investments in businesses and intangible assets, net of cash acquired (Note 8)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$50.00M	USD	3 Qtrs
Investments in businesses and intangible assets, net of cash acquired (Note 8)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$59.00M	USD	3 Qtrs
Investments in equity securities	`PaymentsToAcquireEquityMethodInvestments`	$18.00M	USD	3 Qtrs
Investments in equity securities	`PaymentsToAcquireEquityMethodInvestments`	$51.00M	USD	3 Qtrs
Proceeds from sale of equity securities	`ProceedsFromSaleOfEquitySecuritiesFvNi`	$58.00M	USD	3 Qtrs
Proceeds from sale of equity securities	`ProceedsFromSaleOfEquitySecuritiesFvNi`	-	USD	3 Qtrs
Receipts (payments) on settlements of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$-35.00M	USD	3 Qtrs
Receipts (payments) on settlements of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$63.00M	USD	3 Qtrs
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$13.00M	USD	3 Qtrs
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-30.00M	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-289.00M	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-69.00M	USD	3 Qtrs
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$510.00M	USD	3 Qtrs
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$-294.00M	USD	3 Qtrs
Proceeds from borrowings (maturities longer than 90 days)	`ProceedsFromIssuanceOfCommercialPaper`	-	USD	3 Qtrs
Proceeds from borrowings (maturities longer than 90 days)	`ProceedsFromIssuanceOfCommercialPaper`	$152.00M	USD	3 Qtrs
Repayments of borrowings (maturities longer than 90 days)	`RepaymentsOfCommercialPaper`	-	USD	3 Qtrs
Repayments of borrowings (maturities longer than 90 days)	`RepaymentsOfCommercialPaper`	$503.00M	USD	3 Qtrs
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$199.00M	USD	3 Qtrs
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$6.30B	USD	3 Qtrs
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$43.00M	USD	3 Qtrs
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$11.00M	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$750.00M	USD	3 Qtrs
Net transfers to UTC	`PaymentsForProceedsFromNetParentInvestment`	-	USD	3 Qtrs
Net transfers to UTC	`PaymentsForProceedsFromNetParentInvestment`	$6.33B	USD	3 Qtrs
Dividends paid on Common Stock	`PaymentsOfDividendsCommonStock`	$173.00M	USD	3 Qtrs
Dividends paid on Common Stock	`PaymentsOfDividendsCommonStock`	$291.00M	USD	3 Qtrs
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$725.00M	USD	3 Qtrs
Dividends paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$125.00M	USD	3 Qtrs
Dividends paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$130.00M	USD	3 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-18.00M	USD	3 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$22.00M	USD	3 Qtrs
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.62B	USD	3 Qtrs
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-589.00M	USD	3 Qtrs
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-11.00M	USD	3 Qtrs
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-228.00M	USD	3 Qtrs
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$293.00M	USD	3 Qtrs
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.80B	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`	$1.57B	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.46B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.80B	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`	$1.57B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.46B	USD	Point-in-time
Less: Restricted cash	`RestrictedCash`	$20.00M	USD	Point-in-time
Less: Restricted cash	`RestrictedCash`	$19.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.73B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.55B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.78B	USD	Point-in-time

Stockholders Equity 64 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.68	USD	3 Qtrs
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	1 Quarter
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.40	USD	3 Qtrs
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	1 Quarter
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.67B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.32B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.48B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.23B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.28B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.29B	USD	Point-in-time
Net transfers (to) from UTC	`StockholdersEquityNoteSpinoffTransaction`	$-6.15B	USD	3 Qtrs
Issuance of common stock and reclassification of deficit	`ReclassificationFromAccumulatedDeficitToParentNetInvestment`	-	USD	3 Qtrs
Net income	`ProfitLoss`	$1.11B	USD	3 Qtrs
Net income	`ProfitLoss`	$379.00M	USD	1 Quarter
Net income	`ProfitLoss`	$777.00M	USD	3 Qtrs
Net income	`ProfitLoss`	$310.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-25.00M	USD	3 Qtrs
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-29.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-40.00M	USD	3 Qtrs
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$38.00M	USD	1 Quarter
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$17.00M	USD	1 Quarter
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$43.00M	USD	3 Qtrs
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$32.00M	USD	3 Qtrs
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$17.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$173.00M	USD	3 Qtrs
Cash dividends declared	`DividendsCommonStock`	$86.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$102.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$291.00M	USD	3 Qtrs
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$219.00M	USD	1 Quarter
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$725.00M	USD	3 Qtrs
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$84.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$24.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$123.00M	USD	3 Qtrs
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$131.00M	USD	3 Qtrs
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	-	USD	1 Quarter
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$10.00M	USD	3 Qtrs
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$4.00M	USD	1 Quarter
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-8.00M	USD	3 Qtrs
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.67B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.32B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.48B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.23B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.28B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.29B	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$83.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$96.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$63.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$62.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$98.00M	USD	Point-in-time
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-2.00M	USD	3 Qtrs
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-1.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-4.00M	USD	3 Qtrs
Dividends attributable to noncontrolling interest	`TemporaryEquityDividendsAdjustment`	$1.00M	USD	3 Qtrs
Acquisitions, disposals and other changes	`RedeemableNoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$18.00M	USD	3 Qtrs
Acquisitions, disposals and other changes	`RedeemableNoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$7.00M	USD	3 Qtrs
Acquisitions, disposals and other changes	`RedeemableNoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$3.00M	USD	1 Quarter
Acquisitions, disposals and other changes	`RedeemableNoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-1.00M	USD	1 Quarter
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$83.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$96.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$63.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$95.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$62.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$98.00M	USD	Point-in-time

Comprehensive Income 32 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$1.11B	USD	3 Qtrs
Net income	`ProfitLoss`	$379.00M	USD	1 Quarter
Net income	`ProfitLoss`	$777.00M	USD	3 Qtrs
Net income	`ProfitLoss`	$310.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-37.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-39.00M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$28.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-56.00M	USD	3 Qtrs
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-7.00M	USD	3 Qtrs
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.00M	USD	1 Quarter
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-3.00M	USD	1 Quarter
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-11.00M	USD	3 Qtrs
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$5.00M	USD	3 Qtrs
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$4.00M	USD	1 Quarter
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$6.00M	USD	1 Quarter
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$1.00M	USD	3 Qtrs
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$37.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-27.00M	USD	3 Qtrs
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-29.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-44.00M	USD	3 Qtrs
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$1.08B	USD	3 Qtrs
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$347.00M	USD	1 Quarter
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$733.00M	USD	3 Qtrs
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$350.00M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$57.00M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$130.00M	USD	3 Qtrs
Less: Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$43.00M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$139.00M	USD	3 Qtrs
Comprehensive income attributable to common shareholders	`ComprehensiveIncomeNetOfTax`	$594.00M	USD	3 Qtrs
Comprehensive income attributable to common shareholders	`ComprehensiveIncomeNetOfTax`	$307.00M	USD	1 Quarter
Comprehensive income attributable to common shareholders	`ComprehensiveIncomeNetOfTax`	$953.00M	USD	3 Qtrs
Comprehensive income attributable to common shareholders	`ComprehensiveIncomeNetOfTax`	$290.00M	USD	1 Quarter

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