XML 31 R18.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Shareowners' Equity and Noncontrolling Interest | 6 Months Ended
--- | ---
Jun. 30, 2017
Stockholders' Equity Note [Abstract] |
Shareowners' Equity and Noncontrolling Interest [Text Block] | Shareowners' Equity and Noncontrolling Interest A summary of the changes in shareowners' equity and noncontrolling interest comprising total equity for the quarters and six months ended June 30, 2017 and 2016 is provided below:
| Quarter Ended June 30,
| 2017 |  | 2016
(Dollars in millions) | Share-owners' Equity |  | Non-controlling Interest |  | Total Equity |  | Share-owners' Equity |  | Non-controlling Interest |  | Total Equity
Equity, beginning of period | $ | 27,594 |  |  | $ | 1,678 |  |  | $ | 29,272 |  |  | $ | 28,353 |  |  | $ | 1,550 |  |  | $ | 29,903 |
Comprehensive income for the period: |  |  |  |  |  |  |  |  |  |  |
Net income | 1,439 |  |  | 93 |  |  | 1,532 |  |  | 1,379 |  |  | 99 |  |  | 1,478 |
Total other comprehensive income (loss) | 369 |  |  | 18 |  |  | 387 |  |  | (140 | ) |  | (2 | ) |  | (142 | )
Total comprehensive income for the period | 1,808 |  |  | 111 |  |  | 1,919 |  |  | 1,239 |  |  | 97 |  |  | 1,336 |
Common Stock issued under employee plans | 91 |  |  |  |  | 91 |  |  | 88 |  |  |  |  | 88 |
Common Stock repurchased | (437 | ) |  |  |  | (437 | ) |  | (36 | ) |  |  |  | (36 | )
Dividends on Common Stock | (503 | ) |  |  |  | (503 | ) |  | (526 | ) |  |  |  | (526 | )
Dividends on ESOP Common Stock | (17 | ) |  |  |  | (17 | ) |  | (19 | ) |  |  |  | (19 | )
Dividends attributable to noncontrolling interest |  |  | (64 | ) |  | (64 | ) |  |  |  |  | (90 | ) |  | (90 | )
Purchase of subsidiary shares from noncontrolling interest | (1 | ) |  | (4 | ) |  | (5 | ) |  | (6 | ) |  | — |  |  | (6 | )
Redeemable noncontrolling interest fair value adjustment | (94 | ) |  | — |  |  | (94 | ) |  | (3 | ) |  | — |  |  | (3 | )
Other | 1 |  |  | (8 | ) |  | (7 | ) |  | — |  |  | 1 |  |  | 1 |
Equity, end of period | $ | 28,442 |  |  | $ | 1,713 |  |  | $ | 30,155 |  |  | $ | 29,090 |  |  | $ | 1,558 |  |  | $ | 30,648 |
| Six Months Ended June 30,
| 2017 |  | 2016
(Dollars in millions) | Share-owners' Equity |  | Non-controlling Interest |  | Total Equity |  | Share-owners' Equity |  | Non-controlling Interest |  | Total Equity
Equity, beginning of period | $ | 27,579 |  |  | $ | 1,590 |  |  | $ | 29,169 |  |  | $ | 27,358 |  |  | $ | 1,486 |  |  | $ | 28,844 |
Comprehensive income for the period: |  |  |  |  |  |  |  |  |  |  |
Net income | 2,825 |  |  | 175 |  |  | 3,000 |  |  | 2,562 |  |  | 180 |  |  | 2,742 |
Total other comprehensive income | 370 |  |  | 43 |  |  | 413 |  |  | 135 |  |  | 11 |  |  | 146 |
Total comprehensive income for the period | 3,195 |  |  | 218 |  |  | 3,413 |  |  | 2,697 |  |  | 191 |  |  | 2,888 |
Common Stock issued under employee plans | 170 |  |  |  |  | 170 |  |  | 146 |  |  |  |  | 146 |
Common Stock repurchased | (1,370 | ) |  |  |  |  | (1,370 | ) |  | (36 | ) |  |  |  | (36 | )
Dividends on Common Stock | (1,008 | ) |  |  |  |  | (1,008 | ) |  | (1,035 | ) |  |  |  | (1,035 | )
Dividends on ESOP Common Stock | (35 | ) |  |  |  | (35 | ) |  | (37 | ) |  |  |  | (37 | )
Dividends attributable to noncontrolling interest |  |  |  | (69 | ) |  | (69 | ) |  |  |  | (141 | ) |  | (141 | )
Purchase of subsidiary shares from noncontrolling interest | (1 | ) |  | (5 | ) |  | (6 | ) |  | (6 | ) |  | (1 | ) |  | (7 | )
Acquisition of noncontrolling interest |  |  | — |  |  | — |  |  |  |  | 34 |  |  | 34 |
Redeemable noncontrolling interest fair value adjustment | (95 | ) |  | — |  |  | (95 | ) |  | (3 | ) |  | — |  |  | (3 | )
Other | 7 |  |  | (21 | ) |  | (14 | ) |  | 6 |  |  | (11 | ) |  | (5 | )
Equity, end of period | $ | 28,442 |  |  | $ | 1,713 |  |  | $ | 30,155 |  |  | $ | 29,090 |  |  | $ | 1,558 |  |  | $ | 30,648 |
On November 11, 2015, we entered into accelerated share repurchase (ASR) agreements to repurchase an aggregate of $6 billion of our common stock utilizing the net after-tax proceeds from the sale of Sikorsky. Under the terms of the ASR agreements, we made aggregate payments and received an initial delivery of approximately 51.9 million shares of our common stock in November 2015, representing approximately 85% of the shares expected to be repurchased. The shares associated with the remaining portion of the aggregate purchase were settled upon delivery to us of approximately 2.1 million additional shares of common stock in the quarter ended March 31, 2016 and approximately 8.0 million additional shares of common stock in the quarter ended September 30, 2016. A summary of the changes in each component of accumulated other comprehensive (loss) income, net of tax for the quarters and six months ended June 30, 2017 and 2016 is provided below:
(Dollars in millions) | Foreign Currency Translation |  | Defined Benefit Pension and Post- retirement Plans |  | Unrealized Gains (Losses) on Available-for-Sale Securities |  | Unrealized Hedging (Losses) Gains |  | Accumulated Other Comprehensive (Loss) Income
Quarter Ended June 30, 2017 |  |  |  |  |  |  |  |  |
Balance at March 31, 2017 | $ | (3,359 | ) |  | $ | (4,962 | ) |  | $ | 96 |  |  | $ | (108 | ) |  | $ | (8,333 | )
Other comprehensive income (loss) before reclassifications, net | 231 |  |  | (2 | ) |  | 20 |  |  | 50 |  |  | 299 |
Amounts reclassified, pre-tax | — |  |  | 132 |  |  | (24 | ) |  | 5 |  |  | 113 |
Tax (benefit) expense reclassified | — |  |  | (50 | ) |  | 8 |  |  | (1 | ) |  | (43 | )
Balance at June 30, 2017 | $ | (3,128 | ) |  | $ | (4,882 | ) |  | $ | 100 |  |  | $ | (54 | ) |  | $ | (7,964 | )
Six Months Ended June 30, 2017 |  |  |  |  |  |  |  |  |
Balance at December 31, 2016 | $ | (3,480 | ) |  | $ | (5,045 | ) |  | $ | 353 |  |  | $ | (162 | ) |  | $ | (8,334 | )
Other comprehensive income (loss) before reclassifications, net | 352 |  |  | (2 | ) |  | (1 | ) |  | 100 |  |  | 449 |
Amounts reclassified, pre-tax | — |  |  | 263 |  |  | (407 | ) |  | 10 |  |  | (134 | )
Tax (benefit) expense reclassified | — |  |  | (98 | ) |  | 155 |  |  | (2 | ) |  | 55 |
Balance at June 30, 2017 | $ | (3,128 | ) |  | $ | (4,882 | ) |  | $ | 100 |  |  | $ | (54 | ) |  | $ | (7,964 | )
(Dollars in millions) | Foreign Currency Translation |  | Defined Benefit Pension and Post- retirement Plans |  | Unrealized Gains (Losses) on Available-for-Sale Securities |  | Unrealized Hedging (Losses) Gains |  | Accumulated Other Comprehensive (Loss) Income
Quarter Ended June 30, 2016 |  |  |  |  |  |  |  |  |
Balance at March 31, 2016 | $ | (2,411 | ) |  | $ | (5,072 | ) |  | $ | 316 |  |  | $ | (177 | ) |  | $ | (7,344 | )
Other comprehensive income (loss) before reclassifications, net | (274 | ) |  | (8 | ) |  | 19 |  |  | 26 |  |  | (237 | )
Amounts reclassified, pre-tax | — |  |  | 128 |  |  | (25 | ) |  | 45 |  |  | 148 |
Tax (benefit) expense reclassified | — |  |  | (47 | ) |  | 7 |  |  | (11 | ) |  | (51 | )
Balance at June 30, 2016 | $ | (2,685 | ) |  | $ | (4,999 | ) |  | $ | 317 |  |  | $ | (117 | ) |  | $ | (7,484 | )
Six Months Ended June 30, 2016 |  |  |  |  |  |  |  |  |
Balance at December 31, 2015 | $ | (2,438 | ) |  | $ | (5,135 | ) |  | $ | 293 |  |  | $ | (339 | ) |  | $ | (7,619 | )
Other comprehensive income (loss) before reclassifications, net | (248 | ) |  | (25 | ) |  | 57 |  |  | 143 |  |  | (73 | )
Amounts reclassified, pre-tax | 1 |  |  | 254 |  |  | (52 | ) |  | 107 |  |  | 310 |
Tax (benefit) expense reclassified | — |  |  | (93 | ) |  | 19 |  |  | (28 | ) |  | (102 | )
Balance at June 30, 2016 | $ | (2,685 | ) |  | $ | (4,999 | ) |  | $ | 317 |  |  | $ | (117 | ) |  | $ | (7,484 | )
Amounts reclassified that relate to our defined benefit pension and postretirement plans include the amortization of prior service costs and transition obligations, and actuarial net losses recognized during each period presented. These costs are recorded as components of net periodic pension cost for each period presented (see Note 7 for additional details). Amounts reclassified that relate to unrealized gains (losses) on available-for-sale securities, pre-tax includes approximately $380 million of previously unrealized gains reclassified to other income as a result of sales of available-for-sale securities in the six months ended June 30, 2017, which consisted primarily of the sale of UTC Climate, Controls & Security's investments in Watsco, Inc. All noncontrolling interests with redemption features, such as put options, that are not solely within our control (redeemable noncontrolling interests) are reported in the mezzanine section of the Condensed Consolidated Balance Sheet, between liabilities and equity, at the greater of redemption value or initial carrying value. The increase in the value of redeemable noncontrolling interest in our Condensed Consolidated Balance Sheet as of June 30, 2017 is primarily attributable to the adjustment of the redemption value related to the acquisition of a majority interest in an Italian heating products and services company by UTC Climate, Controls & Security in 2016.

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration