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EQUITY
 6 Months Ended
Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
EQUITY EQUITY
The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $0.01 par value. As of June 30, 2024 and December 31, 2023, 946,155,120 and 883,068,393 shares of common stock were issued, respectively, which includes 43,490,981 shares of treasury stock, for both periods respectively.

Share Repurchase Program

The Company may repurchase its outstanding common stock from time to time subject to market conditions and at the Company's discretion. Repurchases occur in the open market or through one or more other public or private transactions pursuant to plans complying with Rules 10b5-1 and 10b-18 under the Exchange Act. Shares acquired are recognized at cost and presented separately on the balance sheet as a reduction to Equity. Since the initial authorization in February 2021, the Company's Board of Directors authorized the repurchase of up to $4.1 billion of the Company's outstanding common stock.

As of December 31, 2023, the Company repurchased 43.5 million shares of common stock for an aggregate purchase price of $2.0 billion, including shares repurchased under an accelerated share repurchase agreement. As a result, the Company had approximately $2.1 billion remaining under the current authorization at December 31, 2023. Upon announcement of the proposed acquisition of the VCS Business, the Company temporarily paused its share repurchase program in order to advance its capital allocation strategy. As a result, there was no share repurchase activity during the six months ended June 30, 2024.

Accumulated Other Comprehensive Income (Loss)

A summary of changes in the components of Accumulated other comprehensive income (loss) for the three and six months ended June 30, 2024 is as follows:
(In millions)Foreign Currency TranslationDefined Benefit Pension and Post-retirement PlansUnrealized Hedging Gains (Losses)Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2023$(1,444)$(100)$58 $(1,486)
Other comprehensive income (loss) before reclassifications, net(385)— — (385)
Amounts reclassified, pre-tax— — (1)(1)
Balance as of March 31, 2024$(1,829)$(100)$57 $(1,872)
Other comprehensive income (loss) before reclassifications, net(187)— — (187)
Amounts reclassified, pre-tax— 1 (1)— 
Divestitures, net373 — — 373 
Balance as of June 30, 2024$(1,643)$(99)$56 $(1,686)
A summary of changes in the components of Accumulated other comprehensive income (loss) for the three and six months ended June 30, 2023 is as follows:
(In millions)Foreign Currency TranslationDefined Benefit Pension and Post-retirement PlansUnrealized Hedging Gains (Losses)Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2022$(1,604)$(84)$— $(1,688)
Other comprehensive income (loss) before reclassifications, net52 — — 52 
Balance as of March 31, 2023$(1,552)$(84)$— $(1,636)
Other comprehensive income (loss) before reclassifications, net(55)— — (55)
Balance as of June 30, 2023$(1,607)$(84)$— $(1,691)