10-Q Filing

OTIS WORLDWIDE CORP CIK: 1781335 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001781335-22-000016`
Period End Date	20220331
Filing Date	20220427
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	otis-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 34 Cash Flow Statement 77 Stockholders Equity 42 Comprehensive Income 16

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$172.00M	USD	Point-in-time
Accounts receivable, allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$175.00M	USD	Point-in-time
Accounts receivable, allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$161.00M	USD	Point-in-time
Accounts receivable, allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$188.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.73B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.14B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.24B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.16B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.56B	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$1.84B	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$1.91B	USD	Point-in-time
Accounts receivable (net of allowance for expected credit losses of $188 and $175)	`AccountsReceivableNetCurrent`	$3.23B	USD	Point-in-time
Accounts receivable (net of allowance for expected credit losses of $188 and $175)	`AccountsReceivableNetCurrent`	$3.26B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$538.00M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$550.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$626.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$622.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$342.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$382.00M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$7.84B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$8.26B	USD	Point-in-time
Future income tax benefits	`DeferredIncomeTaxAssetsNet`	$335.00M	USD	Point-in-time
Future income tax benefits	`DeferredIncomeTaxAssetsNet`	$311.00M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $1,144 and $1,156)	`PropertyPlantAndEquipmentNet`	$774.00M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $1,144 and $1,156)	`PropertyPlantAndEquipmentNet`	$757.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$542.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$526.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$397.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$419.00M	USD	Point-in-time
Goodwill	`Goodwill`	$1.67B	USD	Point-in-time
Goodwill	`Goodwill`	$1.64B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$308.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$297.00M	USD	Point-in-time
Total Assets	`Assets`	$12.28B	USD	Point-in-time
Total Assets	`Assets`	$11.79B	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$51.00M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$24.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.51B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.56B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.99B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.75B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.93B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.67B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.25B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.24B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$6.69B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$7.25B	USD	Point-in-time
Future pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$558.00M	USD	Point-in-time
Future pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$547.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$386.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$336.00M	USD	Point-in-time
Future income tax obligations	`DeferredIncomeTaxLiabilitiesNet`	$261.00M	USD	Point-in-time
Future income tax obligations	`DeferredIncomeTaxLiabilitiesNet`	$267.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$606.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$606.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.74B	USD	Point-in-time
Total Liabilities	`Liabilities`	$15.26B	USD	Point-in-time
Commitments and contingent liabilities (Note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities (Note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$1.98B	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$194.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$163.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$160.00M	USD	Point-in-time
Common Stock and additional paid-in capital	`CommonStockValue`	$121.00M	USD	Point-in-time
Common Stock and additional paid-in capital	`CommonStockValue`	$119.00M	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	$725.00M	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	$925.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.53B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.26B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-763.00M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-696.00M	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$-5.03B	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$-3.62B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$107.00M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$481.00M	USD	Point-in-time
Total Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.92B	USD	Point-in-time
Total Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.14B	USD	Point-in-time
Total Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.40B	USD	Point-in-time
Total Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.45B	USD	Point-in-time
Total Liabilities and Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$11.79B	USD	Point-in-time
Total Liabilities and Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$12.28B	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.41B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.41B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$35.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$37.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$459.00M	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`	$2.90B	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$7.00M	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$16.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$509.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$526.00M	USD	1 Quarter
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	-	USD	1 Quarter
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$2.00M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-37.00M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-32.00M	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$475.00M	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$489.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$136.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$123.00M	USD	1 Quarter
Net income	`ProfitLoss`	$352.00M	USD	1 Quarter
Net income	`ProfitLoss`	$353.00M	USD	1 Quarter
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$42.00M	USD	1 Quarter
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$44.00M	USD	1 Quarter
Net income attributable to Otis Worldwide Corporation	`NetIncomeLoss`	$311.00M	USD	1 Quarter
Net income attributable to Otis Worldwide Corporation	`NetIncomeLoss`	$308.00M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.71	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.73	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.71	USD	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	431.60M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	424.20M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	433.70M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	427.70M	shares	1 Quarter

Cash Flow Statement 77 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$352.00M	USD	1 Quarter
Net income	`ProfitLoss`	$353.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$48.00M	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`	$17.00M	USD	1 Quarter
Stock compensation cost	`ShareBasedCompensation`	$13.00M	USD	1 Quarter
Stock compensation cost	`ShareBasedCompensation`	$14.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInReceivables`	$51.00M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInReceivables`	$14.00M	USD	1 Quarter
Contract assets and liabilities, current	`IncreaseDecreaseInContractWithCustomerAsset`	$-278.00M	USD	1 Quarter
Contract assets and liabilities, current	`IncreaseDecreaseInContractWithCustomerAsset`	$-328.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$14.00M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$39.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-61.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$-56.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$29.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-36.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-178.00M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-160.00M	USD	1 Quarter
Pension contributions	`PensionContributions`	$13.00M	USD	1 Quarter
Pension contributions	`PensionContributions`	$12.00M	USD	1 Quarter
Other operating activities, net	`ProceedsPaymentsFromOtherOperatingActivities`	$4.00M	USD	1 Quarter
Other operating activities, net	`ProceedsPaymentsFromOtherOperatingActivities`	$30.00M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$585.00M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$504.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$44.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$30.00M	USD	1 Quarter
Investments in businesses and intangible assets, net of cash acquired (Note 6)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$24.00M	USD	1 Quarter
Investments in businesses and intangible assets, net of cash acquired (Note 6)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$8.00M	USD	1 Quarter
Proceeds from the sale of (investments in) marketable securities	`PaymentsToAcquireEquitySecuritiesFvNi`	$18.00M	USD	1 Quarter
Proceeds from the sale of (investments in) marketable securities	`PaymentsToAcquireEquitySecuritiesFvNi`	$7.00M	USD	1 Quarter
Receipts (payments) on settlements of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$-8.00M	USD	1 Quarter
Receipts (payments) on settlements of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$-28.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	-	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`	$-17.00M	USD	1 Quarter
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$26.00M	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`	$152.00M	USD	1 Quarter
Proceeds from borrowings (maturities longer than 90 days)	`ProceedsFromIssuanceOfCommercialPaper`	-	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`	$199.00M	USD	1 Quarter
Proceeds from issuance of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$2.00M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$500.00M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Dividends paid on Common Stock	`PaymentsOfDividendsCommonStock`	$87.00M	USD	1 Quarter
Dividends paid on Common Stock	`PaymentsOfDividendsCommonStock`	$102.00M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$200.00M	USD	1 Quarter
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$300.00M	USD	1 Quarter
Dividends paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$32.00M	USD	1 Quarter
Dividends paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$33.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-10.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-14.00M	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-823.00M	USD	1 Quarter
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-574.00M	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-63.00M	USD	1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-17.00M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-399.00M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-56.00M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.08B	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.48B	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, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.75B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.08B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.48B	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
Less: Restricted cash	`RestrictedCash`	$1.84B	USD	Point-in-time
Less: Restricted cash	`RestrictedCash`	$20.00M	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`	$1.24B	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56B	USD	Point-in-time

Stockholders Equity 42 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.20	USD	1 Quarter
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	1 Quarter
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.92B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.14B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.40B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.45B	USD	Point-in-time
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$344.00M	USD	1 Quarter
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$349.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-15.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$66.00M	USD	1 Quarter
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.00M	USD	1 Quarter
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$9.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$102.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$87.00M	USD	1 Quarter
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$300.00M	USD	1 Quarter
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$200.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$22.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$3.00M	USD	1 Quarter
Reclassification of noncontrolling interest to redeemable noncontrolling interest (Note 1)	`MinorityInterestDecreaseFromRedemptions`	$1.89B	USD	1 Quarter
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-12.00M	USD	1 Quarter
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$3.00M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.92B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.14B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.40B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.45B	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$1.98B	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$194.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$163.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$160.00M	USD	Point-in-time
Net income	`TemporaryEquityNetIncome`	$9.00M	USD	1 Quarter
Net income	`TemporaryEquityNetIncome`	$3.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-7.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-64.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`TemporaryEquityDividendsAdjustment`	$10.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`TemporaryEquityDividendsAdjustment`	$10.00M	USD	1 Quarter
Reclassification of noncontrolling interest to redeemable noncontrolling interest (Note 1)	`TemporaryEquityIncreaseDecreaseDueToReclassificationOfNoncontrollingInterest`	$1.89B	USD	1 Quarter
Acquisitions, disposals and other changes	`RedeemableNoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-17.00M	USD	1 Quarter
Acquisitions, disposals and other changes	`RedeemableNoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$1.00M	USD	1 Quarter
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$1.98B	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$194.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$163.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$160.00M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$352.00M	USD	1 Quarter
Net income	`ProfitLoss`	$353.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-22.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	1 Quarter
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.00M	USD	1 Quarter
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-2.00M	USD	1 Quarter
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-4.00M	USD	1 Quarter
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.00M	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`	$355.00M	USD	1 Quarter
Less: Comprehensive (income) loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-23.00M	USD	1 Quarter
Less: Comprehensive (income) loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$30.00M	USD	1 Quarter
Comprehensive income attributable to Otis Worldwide Corporation	`ComprehensiveIncomeNetOfTax`	$300.00M	USD	1 Quarter
Comprehensive income attributable to Otis Worldwide Corporation	`ComprehensiveIncomeNetOfTax`	$378.00M	USD	1 Quarter

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