XML 42 R24.htm IDEA: XBRL DOCUMENT
v3.23.2

SEGMENT FINANCIAL DATA | 6 Months Ended
--- | ---
Jun. 30, 2023
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 Chief Operating Decision Maker in deciding how to allocate resources and in assessing performance. •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. •The Refrigeration segment includes transport refrigeration and monitoring products, services and digital solutions for trucks, trailers, shipping containers, intermodal and rail, as well as commercial refrigeration products. •The Fire & Security segment provides a wide range of residential, commercial and industrial technologies designed to help protect people and property. The Company's customers are in both the public and private sectors and its businesses reflect extensive geographic diversification. Inter-company sales between segments are immaterial. Net sales and Operating profit by segment are as follows:
|  | Net Sales |  | Operating Profit
|  | Three Months Ended June 30, |  | Three Months Ended June 30,
(In millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022
HVAC |  | $ | 4,216 |  |  | $ | 3,388 |  |  | $ | 742 |  |  | $ | 585 |
Refrigeration |  | 972 |  |  | 1,041 |  |  | 112 |  |  | 147 |
Fire & Security |  | 932 |  |  | 887 |  |  | (157) |  |  | 134 |
Total segment |  | 6,120 |  |  | 5,316 |  |  | 697 |  |  | 866 |
Eliminations and other |  | (128) |  |  | (105) |  |  | (146) |  |  | (16) |
General corporate expenses |  | — |  |  | — |  |  | (62) |  |  | (31) |
Total Consolidated |  | $ | 5,992 |  |  | $ | 5,211 |  |  | $ | 489 |  |  | $ | 819 |
|  | Net Sales |  | Operating Profit
|  | Six Months Ended June 30, |  | Six Months Ended June 30,
(In millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022
HVAC |  | $ | 7,838 |  |  | $ | 6,358 |  |  | $ | 1,177 |  |  | $ | 1,055 |
Refrigeration |  | 1,870 |  |  | 2,017 |  |  | 220 |  |  | 254 |
Fire & Security |  | 1,801 |  |  | 1,705 |  |  | (64) |  |  | 1,352 |
Total segment |  | 11,509 |  |  | 10,080 |  |  | 1,333 |  |  | 2,661 |
Eliminations and other |  | (244) |  |  | (215) |  |  | (184) |  |  | (40) |
General corporate expenses |  | — |  |  | — |  |  | (105) |  |  | (65) |
Total Consolidated |  | $ | 11,265 |  |  | $ | 9,865 |  |  | $ | 1,044 |  |  | $ | 2,556 |
Geographic external sales are attributed to the geographic regions based on their location of origin. With the exception of the U.S. presented in the table below, there were no individually significant countries with sales exceeding 10% of total sales during the six months ended June 30, 2023 and 2022.
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022
United States |  | $ | 3,389 |  |  | $ | 3,171 |  |  | $ | 6,249 |  |  | $ | 5,955 |
International: |  |  |  |  |  |  |  |
Europe |  | 1,205 |  |  | 1,119 |  |  | 2,401 |  |  | 2,164 |
Asia Pacific |  | 1,194 |  |  | 713 |  |  | 2,227 |  |  | 1,365 |
Other |  | 204 |  |  | 208 |  |  | 388 |  |  | 381 |
Net sales |  | $ | 5,992 |  |  | $ | 5,211 |  |  | $ | 11,265 |  |  | $ | 9,865 |

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

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration