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Discontinued Operations (Tables) | 12 Months Ended
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Dec. 31, 2022
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. Loss from discontinued operations is as follows:
(dollars in millions) |  | 2022 |  | 2021 |  | 2020
Otis |  | $ | — |  |  | $ | — |  |  | $ | 187 |
Carrier |  | — |  |  | — |  |  | 196 |
Separation related and other discontinued operations transactions |  | (19) |  |  | (33) |  |  | (793) |
Loss from discontinued operations attributable to common shareowners |  | $ | (19) |  |  | $ | (33) |  |  | $ | (410) |
The following summarized financial information related to discontinued operations has been reclassified from Income from continuing operations and included in Income (loss) from discontinued operations:
(dollars in millions) |  | 2022 |  | 2021 |  | 2020
Otis |  |  |  |  |  |
Products sales |  | $ | — |  |  | $ | — |  |  | $ | 1,123 |
Services sales |  | — |  |  | — |  |  | 1,843 |
Cost of sales - products |  | — |  |  | — |  |  | 913 |
Cost of sales - services |  | — |  |  | — |  |  | 1,157 |
Research and development |  | — |  |  | — |  |  | 38 |
Selling, general and administrative expense |  | — |  |  | — |  |  | 450 |
Other income (expense), net |  | — |  |  | — |  |  | (65) |
Non-operating expense (income), net |  | — |  |  | — |  |  | 3 |
Income from discontinued operations, before income taxes |  | — |  |  | — |  |  | 340 |
Income tax expense |  | — |  |  | — |  |  | 116 |
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 |  |  |  |  |  |
Products sales |  | $ | — |  |  | $ | — |  |  | $ | 3,143 |
Services sales |  | — |  |  | — |  |  | 741 |
Cost of sales - products |  | — |  |  | — |  |  | 2,239 |
Cost of sales - services |  | — |  |  | — |  |  | 527 |
Research and development |  | — |  |  | — |  |  | 98 |
Selling, general and administrative expense |  | — |  |  | — |  |  | 669 |
Other income (expense), net |  | — |  |  | — |  |  | (30) |
Non-operating expense (income), net |  | — |  |  | — |  |  | 17 |
Income from discontinued operations, before income taxes |  | — |  |  | — |  |  | 304 |
Income tax expense |  | — |  |  | — |  |  | 102 |
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 and other discontinued operations transactions(1) |  |  |  |  |  |
Selling, general and administrative expense |  | $ | — |  |  | $ | 10 |  |  | $ | 151 |
Other income (expense), net |  | (30) |  |  | — |  |  | (709) |
Loss from discontinued operations, before income taxes |  | (30) |  |  | (10) |  |  | (860) |
Income tax (benefit) expense |  | (11) |  |  | 23 |  |  | (67) |
Loss from discontinued operations, net of tax |  | (19) |  |  | (33) |  |  | (793) |
Total loss from discontinued operations attributable to common shareowners |  | $ | (19) |  |  | $ | (33) |  |  | $ | (410) |
(1) Primarily reflects 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. In addition, 2020 includes debt extinguishment costs related to the Company’s paydown of debt to not exceed the maximum applicable net indebtedness under the Raytheon merger agreement.
Schedule of cash flows from discontinued operations | Selected financial information related to cash flows from discontinued operations is as follows:
(dollars in millions) | 2022 |  | 2021 |  | 2020
Net cash flows used in operating activities from discontinued operations | $ | — |  |  | $ | (71) |  |  | $ | (728) |
Net cash flows used in investing activities from discontinued operations | — |  |  | — |  |  | (241) |
Net cash flows provided by (used in) financing activities from discontinued operations | — |  |  | 71 |  |  | (1,414) |

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