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SEGMENT FINANCIAL DATA
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
SEGMENT FINANCIAL DATA SEGMENT FINANCIAL DATA
The Company conducts its operations through three reportable operating segments: HVAC, Refrigeration and Fire & Security. In accordance with ASC 280 - Segment Reporting, the Company’s segments maintain separate financial information for which results of operations are evaluated on a regular basis by the Company’s CODM in deciding how to allocate resources and in assessing performance. Inter-company sales between segments are immaterial.

•The HVAC segment provides products, controls, services and solutions to meet the heating, cooling and ventilation needs of residential and commercial customers while enhancing building performance, health, energy efficiency and sustainability. Products include air conditioners, heating systems, controls and aftermarket components as well as aftermarket repair and maintenance services and building automation solutions. Products and solutions are sold directly to building contractors and owners and indirectly through joint ventures, independent sales representatives, distributors, wholesalers, dealers and retail outlets.

•The Refrigeration segment provides a healthier, safer, more sustainable and more intelligent cold chain through the reliable transport and preservation of food, medicine and other perishable cargo. Refrigeration and monitoring products services and digital solutions strengthen the connected cold chain and are designed for trucks, trailers, shipping containers, intermodal applications, food retail and warehouse monitoring. Commercial refrigeration solutions include refrigerated cabinets, freezers, systems and controls incorporating next-generation technologies to preserve freshness, ensure safety and enhance the appearance of retail food and beverage. Products and services are sold directly to transportation companies and retail stores and indirectly through joint ventures, independent sales representatives, distributors, wholesalers and dealers.
•The Fire & Security segment provides a wide range of residential, commercial and industrial technologies designed to help protect people and property. Products include fire, flame, gas, smoke and carbon monoxide detection, portable fire extinguishers, fire suppression systems, intruder alarms, access control systems and video management systems and electronic controls. Other fire and security offerings include audit, design, installation and system integration as well as aftermarket maintenance and repair and monitoring services. Products and solutions are sold directly to end customers as well as through manufacturers' representatives, distributors, dealers, value-added resellers and retail distribution.

Segment information are as follows:

Net SalesOperating Profit
(In millions)202120202019202120202019
HVAC$11,390 $9,478 $9,712 $1,738 $2,462 $1,563 
Refrigeration4,127 3,333 3,792 476 357 532 
Fire & Security5,515 4,985 5,500 662 584 708 
Total segment21,032 17,796 19,004 2,876 3,403 2,803 
Eliminations and other(419)(340)(396)(96)(184)(156)
General corporate expenses— — — (135)(136)(156)
Consolidated$20,613 $17,456 $18,608 $2,645 $3,083 $2,491 

Total assets are not presented for each segment as they are not presented to or reviewed by the CODM. Segment assets in the following table represent Accounts receivable, net , Contract assets, current and Inventories, net. These assets are regularly reviewed by management and are therefore reported in the following table as segment assets. All other remaining assets and liabilities for all periods presented are managed on a company-wide basis.

Segment AssetsCapital ExpendituresDepreciation & Amortization
(In millions)20212020202120202019202120202019
HVAC$2,375 $2,150 $225 $188 $150 $186 $163 $160 
Refrigeration1,285 1,125 39 26 30 36 39 34 
Fire & Security1,203 1,788 49 51 50 83 108 123 
Total Segment4,863 5,063 313 265 230 305 310 317 
Eliminations and other13 3 31 47 13 33 26 18 
Consolidated$4,876 $5,066 $344 $312 $243 $338 $336 $335 
Cash and cash equivalents2,987 3,115 
Other assets, current376 343 
Assets held for sale3,168 — 
Total current assets $11,407 $8,524 

Geographic External Sales

Geographic external sales and operating profits are attributed to the geographic regions based on their location of origin. With the exception of the U.S. as presented in the following table, there were no individually significant countries with sales exceeding 10% of total sales for the years ended December 31, 2021, 2020 and 2019.
External SalesLong-Lived Assets
(In millions)20212020201920212020
United States Operations$10,492 $9,105 $9,594 $772 $782 
International Operations
Europe5,776 4,935 5,327 476 490 
Asia Pacific3,464 2,655 2,813 279 249 
Other881 761 874 299 289 
Consolidated$20,613 $17,456 $18,608 $1,826 $1,810