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SEGMENT FINANCIAL DATA (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Net Sales and Operating Profit by Segment

A summary of results by reportable segment are as follows:

						Three Months Ended June 30, 2025
(In millions)						CSA						CSE						CSAME						CST						Segment Total
Net sales						$	3,252					$	1,253					$	882					$	726					$	6,113
Cost of goods sold						(2,061)						(883)						(654)						(518)						(4,116)
Research and development						(89)						(19)						(16)						(17)						(141)
Selling, general and administrative						(277)						(260)						(126)						(72)						(735)
Equity method investment net earnings						43						1						30						4						78
Other income (expense), net						11						7						19						5						42
Segment operating profit						$	879					$	99					$	135					$	128					$	1,241
						Three Months Ended June 30, 2024
(In millions)						CSA						CSE						CSAME						CST						Segment Total
Net sales						$	2,865					$	1,194					$	902					$	973					$	5,934
Cost of goods sold						(1,868)						(834)						(648)						(716)						(4,066)
Research and development						(91)						(19)						(16)						(18)						(144)
Selling, general and administrative						(237)						(248)						(131)						(104)						(720)
Equity method investment net earnings						44						(1)						43						3						89
Other income (expense), net						—						1						7						—						8
Segment operating profit						$	713					$	93					$	157					$	138					$	1,101
						Six Months Ended June 30, 2025
(In millions)						CSA						CSE						CSAME						CST						Segment Total
Net sales						$	5,824					$	2,422					$	1,708					$	1,377					$	11,331
Cost of goods sold						(3,761)						(1,671)						(1,263)						(990)						(7,685)
Research and development						(175)						(37)						(31)						(33)						(276)
Selling, general and administrative						(527)						(517)						(238)						(141)						(1,423)
Equity method investment net earnings						69						(1)						48						6						122
Other income (expense), net						19						8						32						6						65
Segment operating profit						$	1,449					$	204					$	256					$	225					$	2,134
						Six Months Ended June 30, 2024
(In millions)						CSA						CSE						CSAME						CST						Segment Total
Net sales						$	5,225					$	2,486					$	1,786					$	1,857					$	11,354
Cost of goods sold						(3,491)						(1,659)						(1,291)						(1,368)						(7,809)
Research and development						(200)						(42)						(36)						(40)						(318)
Selling, general and administrative						(467)						(523)						(258)						(200)						(1,448)
Equity method investment net earnings						66						(2)						50						6						120
Other income (expense), net						5						—						14						(4)						15
Segment operating profit						$	1,138					$	260					$	265					$	251					$	1,914

Schedule of Reconciliation of Revenue from Segments to Consolidated

						Three Months Ended  June 30,												Six Months Ended June 30,
(In millions)						2025						2024						2025						2024
Reconciliation to Earnings before income taxes
Segment operating profit						$	1,241					$	1,101					$	2,134					$	1,914
Corporate and other						(75)						(45)						(120)						(94)
Restructuring costs						(47)						(29)						(55)						(37)
Amortization of acquired intangibles						(214)						(170)						(415)						(342)
Acquisition step-up amortization						—						(109)						—						(220)
Acquisition/divestiture-related costs						(9)						(24)						(19)						(72)
CCR gain						7						—						7						—
Viessmann-related hedges						—						—						—						(86)
Gain on liability adjustment						—						—						—						46
Non-service pension (expense) benefit						—						—						1						—
Interest (expense) income, net						(91)						(157)						(173)						(298)
Earnings before income taxes						$	812					$	567					$	1,360					$	811

Schedule of Sales Disaggregated by Product and Service

External segment sales disaggregated by product and service are as follows:

						Three Months Ended  June 30,												Six Months Ended June 30,
(In millions)						2025						2024						2025						2024
Sales Type
Product						$	2,970					$	2,586					$	5,289					$	4,690
Service						282						279						535						535
Climate Solutions Americas sales						3,252						2,865						5,824						5,225
Product						1,137						1,127						2,208						2,365
Service						116						67						214						121
Climate Solutions Europe sales						1,253						1,194						2,422						2,486
Product						697						747						1,357						1,475
Service						185						155						351						311
Climate Solutions Asia Pacific, Middle East & Africa sales						882						902						1,708						1,786
Product						673						851						1,275						1,623
Service						53						122						102						234
Climate Solutions Transportation sales						726						973						1,377						1,857
Net sales						$	6,113					$	5,934					$	11,331					$	11,354

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 three and six months ended June 30, 2025 and 2024.

						Three Months Ended  June 30,												Six Months Ended June 30,
(In millions)						2025						2024						2025						2024
United States						$	3,429					$	3,077					$	6,168					$	5,624
International:
Europe						1,520						1,678						2,920						3,429
Asia Pacific						981						1,003						1,922						1,963
Other						183						176						321						338
Net sales						$	6,113					$	5,934					$	11,331					$	11,354

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