10-Q Filing

OTIS WORLDWIDE CORP CIK: 1781335 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001781335-23-000029`
Period End Date	20230630
Filing Date	20230727
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	otis-20230630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 68 Cash Flow Statement 75 Stockholders Equity 78 Comprehensive Income 32

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$166.00M	USD	Point-in-time
Accounts receivable, allowance for expected credit losses	`AllowanceForDoubtfulAccountsReceivableCurrent`	$143.00M	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`	$152.00M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.21B	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.15B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.19B	USD	Point-in-time
Accounts receivable (net of allowance for expected credit losses of $143 and $152)	`AccountsReceivableNetCurrent`	$3.50B	USD	Point-in-time
Accounts receivable (net of allowance for expected credit losses of $143 and $152)	`AccountsReceivableNetCurrent`	$3.36B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$735.00M	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$664.00M	USD	Point-in-time
Inventories	`InventoryNet`	$640.00M	USD	Point-in-time
Inventories	`InventoryNet`	$617.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$326.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$316.00M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.42B	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.14B	USD	Point-in-time
Future income tax benefits	`DeferredIncomeTaxAssetsNet`	$284.00M	USD	Point-in-time
Future income tax benefits	`DeferredIncomeTaxAssetsNet`	$285.00M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $1,205 and $1,151)	`PropertyPlantAndEquipmentNet`	$715.00M	USD	Point-in-time
Fixed assets (net of accumulated depreciation of $1,205 and $1,151)	`PropertyPlantAndEquipmentNet`	$719.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$438.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$449.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$355.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$369.00M	USD	Point-in-time
Goodwill	`Goodwill`	$1.57B	USD	Point-in-time
Goodwill	`Goodwill`	$1.58B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$287.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$347.00M	USD	Point-in-time
Total Assets	`Assets`	$10.13B	USD	Point-in-time
Total Assets	`Assets`	$9.82B	USD	Point-in-time
Short-term borrowings and current portion of long-term debt	`DebtCurrent`	$746.00M	USD	Point-in-time
Short-term borrowings and current portion of long-term debt	`DebtCurrent`	$670.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.74B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.72B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.78B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.79B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.89B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$2.66B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$6.84B	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$7.16B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$6.12B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$6.10B	USD	Point-in-time
Future pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$398.00M	USD	Point-in-time
Future pension and postretirement benefit obligations	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$392.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$308.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$315.00M	USD	Point-in-time
Future income tax obligations	`DeferredIncomeTaxLiabilitiesNet`	$278.00M	USD	Point-in-time
Future income tax obligations	`DeferredIncomeTaxLiabilitiesNet`	$279.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$501.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$556.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.76B	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.48B	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`	$129.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$1.57B	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$126.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$160.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$135.00M	USD	Point-in-time
Redeemable noncontrolling interest	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$136.00M	USD	Point-in-time
Common Stock and additional paid-in capital	`CommonStockValue`	$183.00M	USD	Point-in-time
Common Stock and additional paid-in capital	`CommonStockValue`	$162.00M	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	$1.93B	USD	Point-in-time
Treasury Stock	`TreasuryStockValue`	$1.57B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.42B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.87B	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-689.00M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-592.00M	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$-4.87B	USD	Point-in-time
Total Shareholders' Equity (Deficit)	`StockholdersEquity`	$-4.85B	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$101.00M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$71.00M	USD	Point-in-time
Total Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.80B	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`	$-4.77B	USD	Point-in-time
Total Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.89B	USD	Point-in-time
Total Equity (Deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.75B	USD	Point-in-time
Total Liabilities and Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$10.13B	USD	Point-in-time
Total Liabilities and Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$9.82B	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$6.90B	USD	2 Qtrs
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.49B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.72B	USD	1 Quarter
Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$7.07B	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$75.00M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$38.00M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$71.00M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$36.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$898.00M	USD	2 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$479.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$439.00M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$934.00M	USD	2 Qtrs
Costs and expenses	`CostsAndExpenses`	$5.99B	USD	2 Qtrs
Costs and expenses	`CostsAndExpenses`	$2.98B	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$3.15B	USD	1 Quarter
Costs and expenses	`CostsAndExpenses`	$5.89B	USD	2 Qtrs
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$19.00M	USD	2 Qtrs
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$12.00M	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$-19.00M	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$-3.00M	USD	2 Qtrs
Operating profit	`OperatingIncomeLoss`	$487.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$580.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.01B	USD	2 Qtrs
Operating profit	`OperatingIncomeLoss`	$1.09B	USD	2 Qtrs
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$1.00M	USD	1 Quarter
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$1.00M	USD	1 Quarter
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$1.00M	USD	2 Qtrs
Non-service pension cost (benefit)	`NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent`	$1.00M	USD	2 Qtrs
Interest expense (income), net	`InterestIncomeExpenseNet`	$-37.00M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-70.00M	USD	2 Qtrs
Interest expense (income), net	`InterestIncomeExpenseNet`	$-35.00M	USD	1 Quarter
Interest expense (income), net	`InterestIncomeExpenseNet`	$-72.00M	USD	2 Qtrs
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$940.00M	USD	2 Qtrs
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$451.00M	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.02B	USD	2 Qtrs
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$542.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$263.00M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$103.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$135.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$239.00M	USD	2 Qtrs
Net income	`ProfitLoss`	$701.00M	USD	2 Qtrs
Net income	`ProfitLoss`	$348.00M	USD	1 Quarter
Net income	`ProfitLoss`	$407.00M	USD	1 Quarter
Net income	`ProfitLoss`	$759.00M	USD	2 Qtrs
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$27.00M	USD	1 Quarter
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$69.00M	USD	2 Qtrs
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$52.00M	USD	2 Qtrs
Less: Noncontrolling interest in subsidiaries' earnings	`NetIncomeLossAttributableToNoncontrollingInterest`	$31.00M	USD	1 Quarter
Net income attributable to Otis Worldwide Corporation	`NetIncomeLoss`	$632.00M	USD	2 Qtrs
Net income attributable to Otis Worldwide Corporation	`NetIncomeLoss`	$321.00M	USD	1 Quarter
Net income attributable to Otis Worldwide Corporation	`NetIncomeLoss`	$376.00M	USD	1 Quarter
Net income attributable to Otis Worldwide Corporation	`NetIncomeLoss`	$707.00M	USD	2 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$0.91	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.71	USD	2 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$1.49	USD	2 Qtrs
Basic (in usd per share)	`EarningsPerShareBasic`	$0.76	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.90	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.70	USD	2 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.48	USD	2 Qtrs
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.76	USD	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	413.50M	shares	2 Qtrs
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	421.40M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	412.70M	shares	1 Quarter
Basic shares (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	422.80M	shares	2 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	416.90M	shares	2 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	424.20M	shares	1 Quarter
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	425.90M	shares	2 Qtrs
Diluted shares (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	416.00M	shares	1 Quarter

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$701.00M	USD	2 Qtrs
Net income	`ProfitLoss`	$348.00M	USD	1 Quarter
Net income	`ProfitLoss`	$407.00M	USD	1 Quarter
Net income	`ProfitLoss`	$759.00M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$99.00M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$97.00M	USD	2 Qtrs
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-16.00M	USD	2 Qtrs
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$6.00M	USD	2 Qtrs
Stock compensation cost	`ShareBasedCompensation`	$28.00M	USD	2 Qtrs
Stock compensation cost	`ShareBasedCompensation`	$34.00M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInReceivables`	$204.00M	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInReceivables`	$104.00M	USD	2 Qtrs
Contract assets and liabilities, current	`IncreaseDecreaseInContractWithCustomerAsset`	$-154.00M	USD	2 Qtrs
Contract assets and liabilities, current	`IncreaseDecreaseInContractWithCustomerAsset`	$-134.00M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$21.00M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$39.00M	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherOperatingAssets`	$38.00M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$43.00M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$135.00M	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-140.00M	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-85.00M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$21.00M	USD	2 Qtrs
Pension contributions	`PensionContributions`	$24.00M	USD	2 Qtrs
Other operating activities, net	`ProceedsPaymentsFromOtherOperatingActivities`	$60.00M	USD	2 Qtrs
Other operating activities, net	`ProceedsPaymentsFromOtherOperatingActivities`	$23.00M	USD	2 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$857.00M	USD	2 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$724.00M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$57.00M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$62.00M	USD	2 Qtrs
Acquisitions of businesses and intangible assets, net of cash (Note 6)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$20.00M	USD	2 Qtrs
Acquisitions of businesses and intangible assets, net of cash (Note 6)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$28.00M	USD	2 Qtrs
Proceeds from the sale of (investments in) marketable securities	`PaymentsToAcquireEquitySecuritiesFvNi`	-	USD	2 Qtrs
Proceeds from the sale of (investments in) marketable securities	`PaymentsToAcquireEquitySecuritiesFvNi`	$7.00M	USD	2 Qtrs
Receipts (payments) on settlements of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$-78.00M	USD	2 Qtrs
Receipts (payments) on settlements of derivative contracts	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$13.00M	USD	2 Qtrs
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.00M	USD	2 Qtrs
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.00M	USD	2 Qtrs
Net cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-91.00M	USD	2 Qtrs
Net cash flows provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.00M	USD	2 Qtrs
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$57.00M	USD	2 Qtrs
Net proceeds from (repayments of) borrowings (maturities of 90 days or less)	`ProceedsFromRepaymentsOfShortTermDebtMaturingInThreeMonthsOrLess`	$57.00M	USD	2 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$500.00M	USD	2 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	-	USD	2 Qtrs
Dividends paid on Common Stock	`PaymentsOfDividendsCommonStock`	$261.00M	USD	2 Qtrs
Dividends paid on Common Stock	`PaymentsOfDividendsCommonStock`	$224.00M	USD	2 Qtrs
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$400.00M	USD	2 Qtrs
Repurchases of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$350.00M	USD	2 Qtrs
Dividends paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$15.00M	USD	2 Qtrs
Dividends paid to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$41.00M	USD	2 Qtrs
Acquisition of Zardoya Otis shares	`PaymentsToAcquireNoncontrollingInterestShares`	-	USD	2 Qtrs
Acquisition of Zardoya Otis shares	`PaymentsToAcquireNoncontrollingInterestShares`	$1.80B	USD	2 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-16.00M	USD	2 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-27.00M	USD	2 Qtrs
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-585.00M	USD	2 Qtrs
Net cash flows provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.94B	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-122.00M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-16.00M	USD	2 Qtrs
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$32.00M	USD	2 Qtrs
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.21B	USD	2 Qtrs
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.20B	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.26B	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`	$1.23B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.20B	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.26B	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`	$1.23B	USD	Point-in-time
Less: Restricted cash	`RestrictedCash`	$13.00M	USD	Point-in-time
Less: Restricted cash	`RestrictedCash`	$8.00M	USD	Point-in-time
Less: Cash and cash equivalents held for sale included in Other current assets (Note 6)	`DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents`	-	USD	Point-in-time
Less: Cash and cash equivalents held for sale included in Other current assets (Note 6)	`DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents`	$34.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.19B	USD	Point-in-time

Stockholders Equity 78 line items

Line Item	Tag	Value	Unit	Period
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.29	USD	1 Quarter
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.34	USD	1 Quarter
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.63	USD	2 Qtrs
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.53	USD	2 Qtrs
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.80B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.92B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.14B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.77B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.89B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.75B	USD	Point-in-time
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$690.00M	USD	2 Qtrs
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$405.00M	USD	1 Quarter
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$346.00M	USD	1 Quarter
Net income	`NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$754.00M	USD	2 Qtrs
Other comprehensive income (loss), net of tax, and foreign currency reclassifications	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-102.00M	USD	2 Qtrs
Other comprehensive income (loss), net of tax, and foreign currency reclassifications	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-59.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax, and foreign currency reclassifications	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$7.00M	USD	2 Qtrs
Other comprehensive income (loss), net of tax, and foreign currency reclassifications	`OtherComprehensiveIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest`	$-70.00M	USD	1 Quarter
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$18.00M	USD	2 Qtrs
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$13.00M	USD	1 Quarter
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$20.00M	USD	2 Qtrs
Stock-based compensation and Common Stock issued under employee plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	$10.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$261.00M	USD	2 Qtrs
Cash dividends declared	`DividendsCommonStock`	$122.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$141.00M	USD	1 Quarter
Cash dividends declared	`DividendsCommonStock`	$224.00M	USD	2 Qtrs
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$177.00M	USD	1 Quarter
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$400.00M	USD	2 Qtrs
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$200.00M	USD	1 Quarter
Repurchase of Common Shares	`StockRepurchasedDuringPeriodValue`	$352.00M	USD	2 Qtrs
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$9.00M	USD	2 Qtrs
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$12.00M	USD	2 Qtrs
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$8.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$9.00M	USD	1 Quarter
Reclassification of noncontrolling interest to redeemable noncontrolling interest	`MinorityInterestDecreaseFromRedemptions`	$1.89B	USD	2 Qtrs
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-62.00M	USD	2 Qtrs
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$2.00M	USD	2 Qtrs
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$3.00M	USD	1 Quarter
Acquisitions, disposals and other changes	`NoncontrollingInterestIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-65.00M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.80B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.92B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.14B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.77B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.89B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-4.75B	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$129.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$1.57B	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$126.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$160.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$135.00M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$136.00M	USD	Point-in-time
Net income	`TemporaryEquityNetIncome`	$11.00M	USD	2 Qtrs
Net income	`TemporaryEquityNetIncome`	$2.00M	USD	1 Quarter
Net income	`TemporaryEquityNetIncome`	$5.00M	USD	2 Qtrs
Net income	`TemporaryEquityNetIncome`	$2.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-5.00M	USD	2 Qtrs
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-34.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-98.00M	USD	2 Qtrs
Other comprehensive income (loss), net of tax	`TemporaryEquityOtherComprehensiveIncomeLoss`	$-6.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`TemporaryEquityDividendsAdjustment`	$11.00M	USD	2 Qtrs
Dividends attributable to noncontrolling interest	`TemporaryEquityDividendsAdjustment`	$9.00M	USD	2 Qtrs
Dividends attributable to noncontrolling interest	`TemporaryEquityDividendsAdjustment`	$1.00M	USD	1 Quarter
Dividends attributable to noncontrolling interest	`TemporaryEquityDividendsAdjustment`	$1.00M	USD	1 Quarter
Reclassification of noncontrolling interest to redeemable noncontrolling interest	`TemporaryEquityIncreaseDecreaseDueToReclassificationOfNoncontrollingInterest`	$1.48B	USD	2 Qtrs
Acquisitions, disposals and other changes	`TemporaryEquityIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$2.00M	USD	1 Quarter
Acquisitions, disposals and other changes	`TemporaryEquityIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-1.40B	USD	2 Qtrs
Acquisitions, disposals and other changes	`TemporaryEquityIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	-	USD	2 Qtrs
Acquisitions, disposals and other changes	`TemporaryEquityIncreaseDecreaseFromBusinessCombinationDisposalAndOtherChanges`	$-1.40B	USD	1 Quarter
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$129.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$1.57B	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$126.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$160.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$135.00M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$136.00M	USD	Point-in-time
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.29	USD	1 Quarter
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.34	USD	1 Quarter
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.63	USD	2 Qtrs
Cash dividends declared (in usd per share)	`CommonStockDividendsPerShareCashPaid`	$0.53	USD	2 Qtrs

Comprehensive Income 32 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$701.00M	USD	2 Qtrs
Net income	`ProfitLoss`	$348.00M	USD	1 Quarter
Net income	`ProfitLoss`	$407.00M	USD	1 Quarter
Net income	`ProfitLoss`	$759.00M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-95.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-70.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-104.00M	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-95.00M	USD	2 Qtrs
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	-	USD	1 Quarter
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-2.00M	USD	1 Quarter
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.00M	USD	2 Qtrs
Pension and postretirement benefit plan adjustments	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	-	USD	2 Qtrs
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-3.00M	USD	2 Qtrs
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	$-6.00M	USD	1 Quarter
Change in unrealized cash flow hedging	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax`	-	USD	2 Qtrs
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-93.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-76.00M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-107.00M	USD	2 Qtrs
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-91.00M	USD	2 Qtrs
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$331.00M	USD	1 Quarter
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$610.00M	USD	2 Qtrs
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$255.00M	USD	1 Quarter
Comprehensive income (loss), net of tax	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$652.00M	USD	2 Qtrs
Less: Comprehensive (income) loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$18.00M	USD	1 Quarter
Less: Comprehensive (income) loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-14.00M	USD	1 Quarter
Less: Comprehensive (income) loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-37.00M	USD	2 Qtrs
Less: Comprehensive (income) loss attributable to noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$42.00M	USD	2 Qtrs
Comprehensive income attributable to Otis Worldwide Corporation	`ComprehensiveIncomeNetOfTax`	$269.00M	USD	1 Quarter
Comprehensive income attributable to Otis Worldwide Corporation	`ComprehensiveIncomeNetOfTax`	$610.00M	USD	2 Qtrs
Comprehensive income attributable to Otis Worldwide Corporation	`ComprehensiveIncomeNetOfTax`	$313.00M	USD	1 Quarter
Comprehensive income attributable to Otis Worldwide Corporation	`ComprehensiveIncomeNetOfTax`	$647.00M	USD	2 Qtrs

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