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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of income (loss) from discontinued operations | Carrier and Otis are presented as discontinued operations and, as such, have been excluded from both continuing operations and segment results for all periods presented. Income (loss) from discontinued operations attributable to common shareowners is as follows:
| Quarter Ended June 30, |  | Six Months Ended June 30,
(dollars in millions) | 2021 |  | 2020 |  | 2021 |  | 2020
Otis | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 187 |
Carrier | — |  |  | — |  |  | — |  |  | 196 |
Separation related transactions (1) | (8) |  |  | 9 |  |  | (27) |  |  | (895) |
Income (loss) from discontinued operations attributable to common shareowners | $ | (8) |  |  | $ | 9 |  |  | $ | (27) |  |  | $ | (512) |
(1) Reflects debt extinguishment costs in the quarter and six months ended June 30, 2020 related to the Company’s paydown of debt to not exceed the maximum applicable net indebtedness under the Raytheon Merger Agreement, and unallocable transaction costs incurred by the Company primarily related to professional services costs pertaining to the Separation Transactions and the establishment of Carrier and Otis as stand-alone public companies, facility relocation costs, costs to separate information systems, costs of retention bonuses and tax charges and benefits related to separation activities. The following summarized financial information related to discontinued operations has been reclassified from Income from continuing operations attributable to common shareowners and included in Income (loss) from discontinued operations attributable to common shareowners:
| Quarter Ended June 30, |  | Six Months Ended June 30,
(dollars in millions) | 2021 |  | 2020 |  | 2021 |  | 2020
Otis |  |  |  |  |  |  |
Product sales | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,123 |
Service sales | — |  |  | — |  |  | — |  |  | 1,843 |
Cost of products sold | — |  |  | — |  |  | — |  |  | 913 |
Cost of services sold | — |  |  | — |  |  | — |  |  | 1,157 |
Research and development | — |  |  | — |  |  | — |  |  | 38 |
Selling, general and administrative expense | — |  |  | — |  |  | — |  |  | 450 |
Other income (expense), net | — |  |  | — |  |  | — |  |  | (65) |
Non-operating (income) expense, net | — |  |  | — |  |  | — |  |  | 3 |
Income from discontinued operations, before tax | — |  |  | — |  |  | — |  |  | 340 |
Income tax expense from discontinued operations | — |  |  | — |  |  | — |  |  | 116 |
Net income from discontinued operations | — |  |  | — |  |  | — |  |  | 224 |
Less: Noncontrolling interest in subsidiaries earnings from discontinued operations | — |  |  | — |  |  | — |  |  | 37 |
Income from discontinued operations attributable to common shareowners | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 187 |
Carrier |  |  |  |  |  |  |
Product sales | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,144 |
Service sales | — |  |  | — |  |  | — |  |  | 740 |
Cost of products sold | — |  |  | — |  |  | — |  |  | 2,239 |
Cost of services sold | — |  |  | — |  |  | — |  |  | 527 |
Research and development | — |  |  | — |  |  | — |  |  | 98 |
Selling, general and administrative expense | — |  |  | — |  |  | — |  |  | 669 |
Other income (expense), net | — |  |  | — |  |  | — |  |  | (30) |
Non-operating (income) expense, net | — |  |  | — |  |  | — |  |  | 17 |
Income from discontinued operations, before tax | — |  |  | — |  |  | — |  |  | 304 |
Income tax expense from discontinued operations | — |  |  | — |  |  | — |  |  | 102 |
Net income from discontinued operations | — |  |  | — |  |  | — |  |  | 202 |
Less: Noncontrolling interest in subsidiaries earnings from discontinued operations | — |  |  | — |  |  | — |  |  | 6 |
Income from discontinued operations attributable to common shareowners | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 196 |
Separation related transactions (1) |  |  |  |  |  |  |
Selling, general and administrative expense | $ | 10 |  |  | $ | 13 |  |  | 30 |  |  | $ | 167 |
Non-operating expense, net | — |  |  | 43 |  |  | — |  |  | 709 |
Loss from discontinued operations, before tax | (10) |  |  | (56) |  |  | (30) |  |  | (876) |
Income tax (benefit) expense from discontinued operations | (2) |  |  | (65) |  |  | (3) |  |  | 19 |
Net income (loss) from discontinued operations | (8) |  |  | 9 |  |  | (27) |  |  | (895) |
Total income (loss) from discontinued operations attributable to common shareowners | $ | (8) |  |  | $ | 9 |  |  | $ | (27) |  |  | $ | (512) |
(1) Reflects debt extinguishment costs in the quarter and six months ended June 30, 2020 related to the Company’s paydown of debt to not exceed the maximum applicable net indebtedness under the Raytheon Merger Agreement, and unallocable transaction costs incurred by the Company primarily related to professional services costs pertaining to the Separation Transactions and the establishment of Carrier and Otis as stand-alone public companies, facility relocation costs, costs to separate information systems, costs of retention bonuses and tax charges and benefits related to separation activities.
Schedule of cash flows from discontinued operations | Selected financial information related to cash flows from discontinued operations is as follows:
| Six Months Ended June 30,
(dollars in millions) | 2021 |  | 2020
Net cash used in operating activities | $ | (24) |  |  | $ | (661) |
Net cash used in investing activities | — |  |  | (241) |
Net cash provided by (used in) financing activities | 24 |  |  | (1,481) |

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