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EQUITY | 6 Months Ended
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Jun. 30, 2025
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, 2025 and December 31, 2024, 949,712,403 and 948,068,772 shares of common stock were issued, respectively, which includes 98,888,958 and 70,093,639 shares of treasury stock, 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 $7.1 billion of the Company's outstanding common stock. On June 5, 2025, the Company entered into a repurchase agreement with Viessmann, an entity controlled by one of the Company's directors, to acquire an aggregate 4,267,425 shares of the Company's common stock at a price per share of $70.30 for an aggregate purchase price of $300 million. The Company recorded a liability of $300 million with an offsetting amount in a contra-equity account in Additional paid-in capital related to the future purchase. During the six months ended June 30, 2025, the Company repurchased 28.8 million shares of common stock for an aggregate purchase price of $1.9 billion, which included shares repurchased from Viessmann under the repurchase agreement. As a result, the Company had approximately $1.3 billion remaining under the current authorization at June 30, 2025. On July 1, 2025, the Company acquired the shares from Viessmann and reclassified the shares into Treasury stock. 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, 2025 is as follows:
(In millions) |  | Foreign Currency Translation |  | Defined Benefit Pension and Post-retirement Plans |  |  |  | Unrealized Hedging Gains (Losses) |  | Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2024 |  | $ | (2,053) |  |  | $ | (107) |  |  |  |  | $ | 54 |  |  | $ | (2,106) |
Other comprehensive income (loss) before reclassifications, net |  | 634 |  |  | — |  |  |  |  | — |  |  | 634 |
Amounts reclassified, pre-tax |  | — |  |  | — |  |  |  |  | (1) |  |  | (1) |
Balance as of March 31, 2025 |  | $ | (1,419) |  |  | $ | (107) |  |  |  |  | $ | 53 |  |  | $ | (1,473) |
Other comprehensive income (loss) before reclassifications, net |  | 1,067 |  |  | (6) |  |  |  |  | — |  |  | 1,061 |
Amounts reclassified, pre-tax |  | — |  |  | 1 |  |  |  |  | (2) |  |  | (1) |
Balance as of June 30, 2025 |  | $ | (352) |  |  | $ | (112) |  |  |  |  | $ | 51 |  |  | $ | (413) |
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 Translation |  | Defined Benefit Pension and Post-retirement Plans |  |  |  | Unrealized 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, net |  | 373 |  |  | — |  |  |  |  | — |  |  | 373 |
Balance as of June 30, 2024 |  | $ | (1,643) |  |  | $ | (99) |  |  |  |  | $ | 56 |  |  | $ | (1,686) |

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