Carrier Global (CARR) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Sep. 30, 2020shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-39220
Entity Registrant Name	CARRIER GLOBAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-4051582
Entity Address, Address Line One	13995 Pasteur Boulevard
Entity Address, City or Town	Palm Beach Gardens
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33418
City Area Code	(561)
Local Phone Number	365-2000
Title of 12(b) Security	Common Stock ($0.01 par value)
Trading Symbol	CARR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	866,687,269
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001783180
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net sales
Net Sales	$ 5,002	$ 4,822	$ 12,862	$ 14,107
Costs and expenses
Research and development	100	102	292	302
Selling, general and administrative	681	702	2,010	2,066
Total costs and expenses	4,222	4,180	11,340	12,329
Equity method investment net earnings	62	78	148	198
Other income (expense), net	239	(91)	168	(42)
Operating profit	1,081	629	1,838	1,934
Non-service pension benefit	16	47	47	124
Interest (expense) income, net	(88)	3	(206)	23
Income from operations before income taxes	1,009	679	1,679	2,081
Income tax expense	261	175	560	380
Net income from operations	748	504	1,119	1,701
Less: Non-controlling interest subsidiaries' earnings	7	12	21	25
Net income attributable to common shareowners	$ 741	$ 492	$ 1,098	$ 1,676
Earnings per share (Note 3)
Basic (in dollars per share)	$ 0.86	$ 0.57	$ 1.27	$ 1.94
Diluted (in dollars per share)	$ 0.84	$ 0.57	$ 1.25	$ 1.94
Weighted-average number of shares outstanding (Note 3)
Basic (in shares)	866.4	866.2	866.3	866.2
Diluted (in shares)	881.5	866.2	876.2	866.2
Product
Net sales
Net Sales	$ 4,193	$ 3,998	$ 10,615	$ 11,703
Costs and expenses
Cost of products and services sold	2,884	2,784	7,464	8,255
Service
Net sales
Net Sales	809	824	2,247	2,404
Costs and expenses
Cost of products and services sold	$ 557	$ 592	$ 1,574	$ 1,706

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 748	$ 504	$ 1,119	$ 1,701
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments arising during period	307	(278)	68	(263)
Pension and post-retirement benefit plan adjustments	5	2	18	11
Other comprehensive income (loss), net of tax	312	(276)	86	(252)
Comprehensive income	1,060	228	1,205	1,449
Less: Comprehensive income attributable to non-controlling interest	(12)	(8)	(25)	(23)
Comprehensive income attributable to common shareowners	$ 1,048	$ 220	$ 1,180	$ 1,426

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 3,848	$ 952
Accounts receivable, net (Note 5 and Note 6)	2,872	2,726
Contract assets, current	753	622
Inventories, net	1,581	1,332
Other assets, current	280	327
Total current assets	9,334	5,959
Future income tax benefits	439	500
Fixed assets, net	1,676	1,663
Operating lease right-of-use assets	823	832
Intangible assets, net	1,024	1,083
Goodwill	9,906	9,884
Pension and post-retirement assets	574	490
Equity method investments	1,696	1,739
Other assets	256	256
Total Assets	25,728	22,406
Current liabilities:
Accounts payable (Note 5)	2,019	1,701
Accrued liabilities (Note 5)	2,445	2,088
Contract liabilities, current	495	443
Current portion of long-term debt	223	237
Total current liabilities	5,182	4,469
Long-term debt	11,751	82
Future pension and post-retirement obligations	473	456
Future income tax obligations (Note 5 and Note 14)	471	1,099
Operating lease liabilities	676	682
Other long-term liabilities (Note 5)	1,738	1,183
Total Liabilities	20,291	7,971
Commitments and contingent liabilities (Note 18)
Equity
UTC Net investment	0	15,355
Common stock, par value $0.01; 4,000,000,000 shares authorized; 866,687,269 shares issued and outstanding as of September 30, 2020	9	0
Additional paid-in capital	5,327	0
Retained earnings	932	0
Accumulated other comprehensive loss	(1,172)	(1,253)
Non-controlling interest	341	333
Total Equity	5,437	14,435
Total Liabilities and Equity	$ 25,728	$ 22,406

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET - Parenthetical	Sep. 30, 2020$ / sharesshares
Equity
Common stock, par or stated value per share (in dollars per share) | $ / shares	$ 0.01
Common stock, shares authorized (in shares)	4,000,000,000
Common stock, shares, issued (in shares)	866,687,269
Common stock, shares, outstanding (in shares)	866,687,269

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Net income	$ 1,119	$ 1,701
Adjustments to reconcile net income from operations to net cash flows provided by operating activities, net of acquisitions and dispositions
Depreciation and amortization	241	251
Deferred income tax provision	121	(109)
Stock compensation costs	56	40
Equity method investment net earnings	(148)	(198)
Distributions from equity method investments	88	80
Impairment charge on minority-owned joint venture investments	72	108
Gain on sale of investment	(252)	0
Changes in operating assets and liabilities
Accounts receivable, net	(117)	(205)
Contract assets, current	(120)	(50)
Inventories, net	(237)	(269)
Other assets, current	52	50
Accounts payable and accrued liabilities	529	(198)
Contract liabilities, current	44	(10)
Defined benefit plan contributions	(29)	(29)
Other operating activities, net	74	(173)
Net cash flows provided by operating activities	1,493	989
Investing Activities
Capital expenditures	(151)	(139)
Proceeds on sale of investment	300	0
Receipt from settlement of derivative contracts	67	0
Other investing activities, net	14	(11)
Net cash flows provided by (used in) investing activities	230	(150)
Financing Activities
(Decrease) increase in short-term borrowings, net	(22)	43
Issuance of long-term debt	11,762	106
Repayment of long-term debt	(124)	(98)
Dividends paid on common stock	(70)	0
Dividends paid to non-controlling interest	(17)	(4)
Net transfers to UTC	(10,359)	(1,111)
Other financing activities, net	3	(31)
Net cash flows provided by (used in) financing activities	1,173	(1,095)
Effect of Exchange Rate on Cash and Cash Equivalents [Abstract]
Effect of foreign exchange rate changes on cash and cash equivalents	0	(12)
Net increase (decrease) in cash and cash equivalents and restricted cash	2,896	(268)
Cash, cash equivalents and restricted cash, beginning of period	957	1,134
Cash, cash equivalents and restricted cash, end of period	3,853	866
Less: restricted cash	5	4
Cash and cash equivalents, end of period	$ 3,848	$ 862

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Cumulative Effect, Period Of Adoption, Adjustment	UTC Net Investment	UTC Net InvestmentCumulative Effect, Period Of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossCumulative Effect, Period Of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings	Non-Controlling Interest
Balance as of beginning of period at Dec. 31, 2018	$ 14,269	$ 0	$ 15,132	$ 9	$ (1,215)	$ (9)	$ 0	$ 0	$ 0	$ 352
Net income	403		400							3
Other comprehensive (loss) income, net of tax	101				96					5
Dividends attributable to noncontrolling interest	(2)									(2)
Net transfers (to) from UTC	(81)		(81)
Balance as of end of period at Mar. 31, 2019	14,690		15,460		(1,128)		0	0	0	358
Balance as of beginning of period at Dec. 31, 2018	14,269	0	15,132	9	(1,215)	$ (9)	0	0	0	352
Net income	1,701
Other comprehensive (loss) income, net of tax	(252)
Balance as of end of period at Sep. 30, 2019	14,644		15,747		(1,474)		0	0	0	371
Balance as of beginning of period at Mar. 31, 2019	14,690		15,460		(1,128)		0	0	0	358
Net income	794		784							10
Other comprehensive (loss) income, net of tax	(77)				(74)					(3)
Dividends attributable to noncontrolling interest	(2)									(2)
Net transfers (to) from UTC	(445)		(445)
Balance as of end of period at Jun. 30, 2019	14,960		15,799		(1,202)		0	0	0	363
Net income	504		492							12
Other comprehensive (loss) income, net of tax	(276)				(272)					(4)
Net transfers (to) from UTC	(544)		(544)
Balance as of end of period at Sep. 30, 2019	14,644		15,747		(1,474)		0	0	0	371
Balance as of beginning of period at Dec. 31, 2019	14,435	(4)	15,355	(4)	(1,253)		0	0	0	333
Net income	102		96							6
Other comprehensive (loss) income, net of tax	(485)				(483)					(2)
Dividends attributable to noncontrolling interest	(8)									(8)
Net transfers (to) from UTC	(11,014)		(11,014)
Balance as of end of period at Mar. 31, 2020	3,026		4,433		(1,736)		0	0	0	329
Balance as of beginning of period at Dec. 31, 2019	14,435	$ (4)	15,355	$ (4)	(1,253)		0	0	0	333
Net income	1,119
Other comprehensive (loss) income, net of tax	86
Net transfers (to) from UTC			780
Balance as of end of period at Sep. 30, 2020	5,437		0		(1,172)		9	5,327	932	341
Balance as of beginning of period at Mar. 31, 2020	3,026		4,433		(1,736)		0	0	0	329
Net income	269								261	8
Other comprehensive (loss) income, net of tax	258				257					1
Dividends declared on Common Stock	(70)								(70)
Common stock issued under employee plans	24							24
Net transfers (to) from UTC	859		859
Reclassification of UTC Net investment in connection with Separation	0		(5,292)				9	5,283
Balance as of end of period at Jun. 30, 2020	4,366		0		(1,479)		9	5,307	191	338
Net income	748								741	7
Other comprehensive (loss) income, net of tax	312				307					5
Common stock issued under employee plans	20							20
Dividends attributable to noncontrolling interest	(9)									(9)
Balance as of end of period at Sep. 30, 2020	$ 5,437		$ 0		$ (1,172)		$ 9	$ 5,327	$ 932	$ 341

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES EQUITY - Parenthetical	3 Months Ended
	Jun. 30, 2020$ / shares
Statement of Stockholders' Equity [Abstract]
Common stock dividends, declared (in dollars per share)	$ 0.08

DESCRIPTION OF THE BUSINESS

DESCRIPTION OF THE BUSINESS	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	The Condensed Consolidated Financial Statements as of September 30, 2020 and for the three and nine months ended September 30, 2020 and 2019 are unaudited, and include all adjustments, consisting only of normal recurring adjustments considered necessary by management to fairly state our results of operations, financial position and cash flows for the interim periods. The results reported in the Unaudited Condensed Consolidated Financial Statements are not necessarily indicative of results that may be expected for any other interim period or the entire year. The financial information included herein should be read in conjunction with the financial statements and notes in the Company's information statement, dated March 16, 2020, which was included as Exhibit 99.1 in our Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on March 16, 2020 (the "Information Statement"). Impact of the COVID-19 pandemic A novel strain of coronavirus ("COVID-19") surfaced in Wuhan, China in late 2019 and has since spread throughout the rest of the world. In March 2020, COVID-19 was declared a pandemic by the World Health Organization and a national emergency by the U.S. Government. The pandemic has negatively affected the U.S. and global economies, disrupted global supply chains and financial markets, resulted in significant travel restrictions, mandated facility closures and shelter-in-place orders. Carrier is taking all prudent measures to protect the health and safety of our employees. In particular, we have implemented work from home requirements (where possible), social distancing and deep cleaning protocols at all of our facilities as well as travel restrictions, among other measures. We have also taken appropriate measures to work with our customers to minimize potential disruptions and to support the communities that we serve to address the challenges posed by the pandemic. The full extent of the impact of COVID-19 on our operational and financial performance will depend on future developments, including the duration and spread of the pandemic as well as any worsening or additional outbreaks of the pandemic, and related containment and mitigation actions taken by the U.S., state and local and international governments to prevent disease spread. The extent of the pandemic's impact on Carrier will also depend upon our employees' ability to work safely in our facilities, our customers’ ability to continue to operate or to receive our products, and the level of activity and demand for the ultimate products and services of our customers or their customers. During the three months ended March 31, 2020, we temporarily closed or reduced production at manufacturing facilities in North America, Asia and Europe for safety reasons and in response to lower demand for our products. Subsequently, our manufacturing operations have resumed, measures have been enacted to scale capacity to demand, and we continue to actively take steps to mitigate supply chain risk. We continue to apply appropriate safety measures and have not experienced any significant disruptions to our manufacturing operations. We also initiated return-to-work protocols at our non-manufacturing facilities where employees were previously working remotely. We continue to focus on navigating the challenges COVID-19 presents by preserving our liquidity and managing our cash flows through preemptive actions to enhance our ability to meet our liquidity needs over the next twelve months. Such actions during the nine months ended September 30, 2020 include, but are not limited to, modifying the financial covenants in our revolving and term loan credit facilities and issuing $750 million of unsecured, unsubordinated long-term debt (see Note 10 – Borrowings and Lines of Credit for additional information), reducing our discretionary spending, capital investments and general and administrative costs by implementing temporary pay freezes and pay cuts, employee furloughs and suspending non-critical hiring, and participating in global COVID-19 relief measures, including the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, which provides for payroll tax deferrals and credits, income tax payment deferrals and an increase in the income tax interest deduction limitation. DESCRIPTION OF THE BUSINESS Carrier Global Corporation is a leading global provider of heating, ventilating, air conditioning ("HVAC"), refrigeration, and fire and security solutions. Carrier also provides a broad array of related building services, including audit, design, installation, system integration, repair, maintenance and monitoring. Carrier’s operations are classified into three segments: HVAC, Refrigeration and Fire & Security. The HVAC and Refrigeration segments sell their products and solutions directly, including to building contractors and owners, transportation companies and retail stores, or indirectly through joint venture and other minority-owned investments, independent sales representatives, distributors, wholesalers, dealers and retail outlets. These products and services are sold under the Carrier name and other brand names including Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO, Riello, Carrier Commercial Refrigeration, Carrier Transicold, Sensitech and others. The Fire & Security segment sells its products directly to customers, or indirectly through manufacturers’ representatives, distributors, dealers, value-added resellers and retailers. Fire & Security’s products and services are used by governments, financial institutions, architects, building owners and developers, security and fire consultants, homeowners and other end-users requiring a high level of security and fire protection for their businesses and residences. These products and services are sold under brand names including Autronica, Chubb, Det-Tronics, Edwards, Fireye, GST, Kidde, LenelS2, Marioff, Onity, Supra and others. On November 26, 2018, United Technologies Corporation, since renamed Raytheon Technologies Corporation ("UTC"), announced its intention to spin off Carrier, one of UTC's reportable segments, into a separate publicly traded company (the "Separation"). On April 3, 2020 (the "Distribution Date"), UTC completed the Separation through a pro-rata distribution (the "Distribution") of all of the outstanding common stock of the Company to UTC shareowners who held shares of UTC common stock as of the close of business on March 19, 2020, the record date for the Distribution. UTC distributed 866,158,910 shares of Carrier common stock in the Distribution, which was effective at 12:01 a.m., Eastern Time, on April 3, 2020 (the "Effective Time"). As a result of the Distribution, UTC shareowners of record received one share of the Company's common stock for every one share of UTC common stock and Carrier became an independent public company and our common stock is listed under the symbol "CARR" on the New York Stock Exchange. In connection with the Separation, Carrier issued an aggregate principal balance of $11.0 billion of debt and transferred approximately $10.9 billion of cash to UTC on February 27, 2020 and March 27, 2020. On April 1, 2020 and April 2, 2020, Carrier received cash contributions totaling $590 million from UTC related to the Separation. See Note 10 – Borrowings and Lines of Credit and Note 3 – Earnings Per Share for additional information. In connection with the Separation, Carrier entered into several agreements with UTC and Otis Worldwide Corporation ("Otis"), including a separation and distribution agreement that sets forth certain agreements with UTC and Otis regarding the principal actions to be taken in connection with the Separation, including identifying the assets transferred, the liabilities assumed and the contracts transferred to each of UTC, Otis and Carrier as part of the Separation, and when and how these transfers and assumptions occurred. Other agreements we entered into that govern aspects of our relationship with UTC and Otis following the Separation include: Transition Services Agreement . We entered into a Transition Services Agreement (the "TSA") with UTC and Otis in connection with the Separation pursuant to which UTC provides us with certain services and we provide certain services to UTC for a limited time to help ensure an orderly transition following the Separation. The services we receive include, but are not limited to, information technology services, technical and engineering support, application support for operations, legal, payroll, finance, tax and accounting, general administrative services and other support services. The costs for these services historically were included in our operating results based on allocations from UTC and in the nine months ended September 30, 2020, were not materially different under the TSA from such costs historically nor do we expect such costs to be materially different when these services are ultimately transitioned from UTC to Carrier. Tax Matters Agreement. We entered into a Tax Matters Agreement (the "TMA") with UTC and Otis that governs the parties’ respective rights, responsibilities and obligations with respect to tax matters (including responsibility for taxes, entitlement to refunds, allocation of tax attributes, preparation of tax returns, control of tax contests and other tax matters). Subject to certain exceptions set forth in the TMA, Carrier generally is responsible for federal, state and foreign taxes imposed on a separate return basis upon Carrier (or any of its subsidiaries) with respect to taxable periods (or portions thereof) that ended on or prior to the date of the Distribution. The TMA provides special rules that allocate responsibility for tax liabilities arising from a failure of the Separation transactions to qualify for tax-free treatment based on the reasons for such failure. The TMA also imposes restrictions on each of Carrier and Otis during the two-year period following the Distribution that are intended to prevent certain transactions from failing to qualify as transactions that are generally tax-free. Employee Matters Agreement and Intellectual Property Agreement. We entered into an employee matters agreement and intellectual property agreement with UTC and Otis in connection with the Separation.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. All significant intra-company accounts and transactions have been eliminated in the preparation of the Unaudited Condensed Consolidated Financial Statements. Related party transactions between the Company and its equity method investees have not been eliminated. Non-controlling interest represents a non-controlling investor's interests in the results of subsidiaries that we control and consolidate. Certain immaterial amounts presented in the Information Statement have been reclassified to conform to the current period presentation, including the reclassification of the Current portion of long-term debt from Accrued liabilities for 2019 on the accompanying Unaudited Condensed Consolidated Balance Sheet. The Company's financial statements for periods prior to the Separation and the Distribution are prepared on a "carve-out" basis, as described below. The Company's financial statements for the period from April 3, 2020 through September 30, 2020 are consolidated financial statements based on the reported results of Carrier as a stand-alone company. Basis of Presentation Prior to the Separation and the Distribution For the period prior to the Separation and the Distribution, the Unaudited Condensed Consolidated Financial Statements reflect the Company's financial position, results of operations and cash flows for the periods presented, which were historically managed by UTC. For the periods presented prior to the Separation and the Distribution, the Unaudited Condensed Consolidated Financial Statements are derived from UTC's consolidated financial statements and accounting records. The Unaudited Condensed Consolidated Statement of Operations includes all revenues and costs directly attributable to Carrier, including costs for facilities, functions and services used by Carrier. Prior to the Separation, costs for certain functions and services performed by UTC were directly charged to Carrier based on specific identification when possible or based on a reasonable allocation driver such as net sales, headcount, proportionate usage or other allocation methods. The results of operations include allocations of costs for administrative functions and services performed on behalf of Carrier by centralized groups within UTC and of certain pension and other post-retirement benefit costs (see Note 5 – Related Parties for a description of the allocation methodologies). All charges and allocations for facilities, functions and services performed by UTC have been deemed settled in cash by Carrier to UTC in the period in which the cost was recorded in the Unaudited Condensed Consolidated Statement of Operations. Prior to the Separation, UTC used a centralized approach to cash management and the financing of its operations. Accordingly, none of UTC's cash, third party debt or related interest expense has been allocated to Carrier in the Unaudited Condensed Consolidated Financial Statements for the period prior to the Separation. However, cash balances primarily associated with certain foreign entities that did not participate in UTC’s cash management program have been included in the Unaudited Condensed Consolidated Financial Statements for periods prior to the Separation. Transactions between UTC and Carrier are deemed settled immediately through UTC’s Net investment, other than those transactions which have been historically cash-settled and which are reflected in the Unaudited Condensed Consolidated Balance Sheet within Accounts receivable, net and Accounts payable. The net effect of the deemed settled transactions is reflected in the Unaudited Condensed Consolidated Statement of Cash Flows as Net transfers to UTC within financing activities and in the Unaudited Condensed Consolidated Balance Sheet as UTC’s Net investment (see Note 5 – Related Parties for additional information). All of the allocations and estimates in the Unaudited Condensed Consolidated Financial Statements are based on assumptions that management believes are reasonable. However, for the periods prior to the Separation, the Unaudited Condensed Consolidated Financial Statements may not be indicative of the Company's future financial position, results of operations and cash flows or if the Company had been a separate, stand-alone entity during the periods presented. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This ASU and its related amendments (collectively, the "Credit Loss Standard") modified the credit loss model to utilize an expected loss methodology in place of an incurred loss methodology for financial instruments, including trade receivables, contract assets, long-term receivables and off-balance sheet credit exposures. The Credit Loss Standard requires consideration of a broader range of information to estimate expected credit losses, including historical information, current conditions and a reasonable forecast period. This ASU requires that the statement of operations reflect the measurement of credit losses for newly recognized financial assets as well as an expected increase or decrease of expected credit losses that have taken place during the period, which may result in earlier recognition. The Company adopted the Credit Loss Standard effective January 1, 2020, utilizing a modified retrospective approach and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . This ASU simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Under this ASU, a goodwill impairment is calculated as the difference between the carrying amount of the reporting unit and its fair value, but not to exceed the carrying amount of the goodwill allocated to that reporting unit. Additionally, this ASU requires the same impairment testing methodology for all reporting units, even those with a zero or negative carrying amount, and requires an entity to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement . This ASU removes the disclosure requirements for the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. Recently Issued SEC Rules In May 2020, the SEC issued Final Rule Release No. 33-10786, which amends the financial statement requirements for acquisitions and dispositions of businesses and related pro forma financial information required under SEC Regulation S-X, Rule 3-05. The final rule modifies the significance test required in SEC Regulation S-X, Rule 1-02(w) by raising the significance threshold for reporting dispositions of a business from 10% to 20% and by modifying the calculation of the investment and income tests. In accordance with Rules 3-09 or 4-08(g), the revised income test will apply to the evaluation of equity method investments for significance. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning after December 31, 2020. In August 2020, the SEC issued Final Rule Release No. 33-10825, which amends certain disclosure requirements required by Regulation S-K relating to the description of business (Item 101), legal proceedings (Item 103) and risk factors (Item 105). The amendments to Item 101 will, among other things, allow the Company to provide updates regarding the business based on materiality, if it incorporates by reference disclosure from a previous SEC filing. The amendment also requires disclosures regarding the registrant’s human capital resources to the extent such disclosures would be material to an understanding of the registrant’s business. The amendments to Item 103 will, among other things, increase the quantitative threshold for disclosing certain environmental proceedings, and the amendments to Item 105 will, among other things, require a risk factor summary if the risk factors section is longer than 15 pages. The Company is currently evaluating the impact of these modifications, which are effective on November 9, 2020.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE On the Distribution Date, 866,158,910 shares of the Company’s common stock, par value $0.01 per share, were distributed to UTC shareowners of record as of March 19, 2020. This share amount is utilized for the calculation of basic and diluted earnings per share for all periods presented prior to the Separation and such shares are treated as issued and outstanding for purposes of calculating historical earnings per share. For periods prior to the Separation, it is assumed that there are no dilutive equity instruments as there were no Carrier stock-based awards outstanding prior to the Separation. Diluted earnings per share is computed by giving effect to all potentially dilutive stock awards that are outstanding. For periods subsequent to the Separation, the computation of diluted earnings per share excludes the effect of the potential exercise of stock-based awards, including stock appreciation rights and stock options, when the effect of the potential exercise would be anti-dilutive. The weighted-average number of common shares outstanding for basic and diluted earnings per share for the three and nine months ended September 30, 2020 was based on the weighted-average number of common shares outstanding for the period beginning after the Distribution Date. For the three months ended September 30, 2020 and the period April 3, 2020 through September 30, 2020, the number of stock awards excluded from the computation of diluted earnings per share due to their anti-dilutive effect was approximately 3.2 million. Three Months Ended September 30, Nine Months Ended September 30, (dollars in millions, except per share amounts; shares in millions) 2020 2019 2020 2019 Net income attributable to common shareowners $ 741 $ 492 $ 1,098 $ 1,676 Basic weighted-average number of shares outstanding 866.4 866.2 866.3 866.2 Stock awards and equity units (share equivalent) 15.1 — 9.9 — Diluted weighted-average number of shares outstanding 881.5 866.2 876.2 866.2 Earnings Per Share Basic $ 0.86 $ 0.57 $ 1.27 $ 1.94 Diluted $ 0.84 $ 0.57 $ 1.25 $ 1.94

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Contract Assets and Liabilities. Total contract assets and liabilities are as follows: (dollars in millions) September 30, 2020 December 31, 2019 Contract assets, current $ 753 $ 622 Contract assets, non-current (included within Other assets) 75 57 Total contract assets 828 679 Contract liabilities, current (495) (443) Contract liabilities, non-current (included within Other long-term liabilities) (166) (168) Total contract liabilities (661) (611) Net contract assets $ 167 $ 68 Contract assets increased $149 million for the nine months ended September 30, 2020, primarily due to the timing of billings on customer contracts and contract completions. Contract liabilities increased $50 million for the nine months ended September 30, 2020, primarily due to customer billings in excess of revenue earned. For the three months ended September 30, 2020 and 2019, we recognized revenue of $55 million and $53 million, respectively, and for the nine months ended September 30, 2020 and 2019, we recognized revenue of $288 million and $301 million, respectively, that was related to contract liabilities as of January 1, 2020 and 2019, respectively. Remaining Performance Obligations ("RPO"). As of September 30, 2020, our total RPO was approximately $5.6 billion compared with $4.7 billion as of December 31, 2019. Of the total RPO as of September 30, 2020, we expect that approximately 73% will be recognized as sales over the next 12 months. See Note 19 – Segment Financial Data which provides incremental disclosures required by Accounting Standard Codification ("ASC") Topic 606 – Revenue from Contracts with Customers.

RELATED PARTIES

RELATED PARTIES	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIES Equity Method Investments Carrier sells products to and purchases products from unconsolidated entities accounted for under the equity method and, therefore, these entities are considered related parties. During the three months ended September 30, 2020 and 2019, Product sales in the Unaudited Condensed Consolidated Statement of Operations included sales to equity method investees of $576 million and $498 million, respectively. During the three months ended September 30, 2020 and 2019, Cost of products sold in the Unaudited Condensed Consolidated Statement of Operations included purchases from equity method investees of $70 million and $96 million, respectively. During the nine months ended September 30, 2020 and 2019, Product sales in the Unaudited Condensed Consolidated Statement of Operations included sales to equity method investees of $1.4 billion and $1.4 billion, respectively. During the nine months ended September 30, 2020 and 2019, Cost of products sold in the Unaudited Condensed Consolidated Statement of Operations included purchases from equity method investees of $213 million and $274 million, respectively. Carrier had receivables from equity method investees of $213 million and $137 million at September 30, 2020 and December 31, 2019, respectively. Carrier also had payables to equity method investees of $40 million and $55 million at September 30, 2020 and December 31, 2019, respectively. The receivables and payables are included in Accounts receivable, net and Accounts payable on the Unaudited Condensed Consolidated Balance Sheet. The Company periodically reviews the carrying value of its equity method investments to determine if there has been an other-than-temporary decline in fair value. A variety of factors are considered when determining if a decline in carrying value is other-than-temporary, including, among other factors, the financial condition and business prospects of the investee, as well as the Company's intent with regard to the investment. During the three months ended March 31, 2020, we determined that indicators of impairment existed for a minority owned joint venture investment in the portfolio. We performed a valuation of this investment, which was based on the income approach using the discounted cash flow method. We determined that the loss in value was other-than-temporary due to a reduction in sales and earnings that were driven by a deterioration in the oil and gas industry (the joint venture's primary market) and by the impact of the COVID-19 pandemic, among other factors. As a result, we recorded a non-cash, other-than-temporary impairment charge of $71 million on this investment during the three months ended March 31, 2020 which is included in Other income (expense), net on the accompanying Unaudited Condensed Consolidated Statement of Operations. In September 2020, the Company sold 9.25 million B shares of Beijer Ref AB ("Beijer") for SEK290 ($32.38) per share equal to approximately 7.9% of the outstanding B shares in Beijer, through an accelerated equity offering. We received proceeds of approximately $300 million and recognized a pre-tax gain on the sale of $252 million included in Other income (expense), net on the accompanying Unaudited Condensed Consolidated Statement of Operations. Following the sale, Beijer, which is listed on the Nasdaq Stockholm, continues to be reported as an equity method investment with Carrier continuing to hold approximately 30% of Beijer's B shares, approximately 22% of Beijer's A shares and approximately 26% of the Beijer total votes. Related Party with UTC Prior to the Separation, Carrier had been managed and operated in the normal course of business with other affiliates of UTC. Accordingly, certain shared costs were allocated to the Company and are reflected as expenses in the Unaudited Condensed Consolidated Financial Statements. Related Party Sales. During the periods prior to the Separation, the Company sold products and services to UTC and its other affiliates. Product sales in the Unaudited Condensed Consolidated Statement of Operations include sales to UTC and affiliates of UTC other than Carrier of $0 million and $6 million for the three months ended September 30, 2020 and 2019, respectively, and $3 million and $18 million for the nine months ended September 30, 2020 and 2019, respectively. Allocated Centralized Costs. Prior to the Separation, UTC incurred corporate costs for services provided to Carrier and to other UTC businesses. These services included treasury, tax, accounting, human resources, internal audit, legal, purchasing and information technology. The costs associated with these services generally included all payroll and benefit costs as well as related overhead costs. UTC also allocated costs associated with corporate insurance coverage and medical, pension, post-retirement and other health plan costs for employees participating in UTC sponsored plans. UTC corporate costs were either specifically attributed and charged to Carrier, when possible, or allocated to the Company. Allocations were based on direct usage where identifiable and on a number of other utilization measures including headcount, proportionate usage and net sales. All such amounts were deemed incurred and settled by the Company in the period in which the costs were recorded and are included in UTC Net investment. The allocated centralized costs for the three months ended September 30, 2020 and 2019 were $0 million and $62 million, respectively, and for the nine months ended September 30, 2020 and 2019 were $43 million and $178 million, respectively, and are primarily included in Selling, general and administrative in the Unaudited Condensed Consolidated Statement of Operations. The expense and cost allocations have been determined on a basis considered to be a reasonable reflection of the utilization of services provided to or for the benefit of the Company prior to the Separation. The amounts that would have been, or will be incurred on a stand-alone basis could differ from the amounts allocated due to economies of scale, differences in management approach, a need for more or fewer employees, or other factors. In addition, the Company's future results of operations, financial position and cash flows could differ materially from the historical results presented herein. Separation Costs. In connection with the Separation, we have incurred separation-related costs of approximately $24 million and $92 million for the three and nine months ended September 30, 2020, respectively, and $13 million and $13 million for the three and nine months ended September 30, 2019, respectively, primarily recorded in Selling, general and administrative in the Unaudited Condensed Consolidated Statement of Operations, which primarily consist of employee-related costs, costs to establish certain stand-alone functions and information technology systems, professional service fees and other transaction-related costs resulting from Carrier becoming an independent, publicly traded company. Cash Management and Financing. Prior to the Separation, the Company participated in UTC’s centralized cash management and financing programs. Cash receipts and disbursements were executed through centralized systems, which were operated by UTC. As cash was received and disbursed by UTC, it was accounted for by the Company through UTC Net investment. The majority of external debt was financed by UTC, and financing decisions for wholly and majority owned subsidiaries were determined by UTC. See Note 1 – Description of the Business for additional information. The Company’s cash that was excluded from UTC's centralized cash management and financing programs is classified as Cash and cash equivalents in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019. During the nine months ended September 30, 2020, net assets of $780 million were contributed to the Company by UTC which primarily consisted of cash of $590 million, deferred tax assets and liabilities and fixed assets. These contributions of net assets are recorded as Net transfers from UTC on the Unaudited Condensed Consolidated Statement of Changes in Equity through UTC Net investment. Accounts Receivable and Payable. Certain related party transactions between the Company and UTC were included within UTC Net investment in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019 when the related party transactions were not settled in cash. As of December 31, 2019, the UTC Net investment includes related party receivables due from UTC and its affiliates of $16.0 billion and related party payables due to UTC and its affiliates of $3.3 billion. At the Distribution Date, UTC Net investment was reclassified to Common stock and Additional paid-in capital. Prior to the Separation, interest income and expense related to activity with UTC that was historically included in Carrier’s results is presented on a net basis in the Unaudited Condensed Consolidated Statement of Operations. For the three and nine months ended September 30, 2019, there was $21 million and $70 million, respectively, of interest income from activity with UTC. For the three and nine months ended September 30, 2019, there was $12 million and $44 million, respectively, of interest expense from activity with UTC. The effect of the settlement of these related party transactions is included in financing activity in the Unaudited Condensed Consolidated Statement of Cash Flows. There was no interest income or expense from activity with UTC for the three and nine months ended September 30, 2020. Additionally, certain transactions between Carrier and its subsidiaries, and UTC and its affiliates, were cash-settled prior to the Separation and are reflected in Accounts receivable, net and Accounts payable in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019 in the amounts of $6 million and $4 million, respectively. As of September 30, 2020, there were no outstanding Accounts receivable, net or Accounts payable with UTC.

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
ACCOUNTS RECEIVABLE, NET	ACCOUNTS RECEIVABLE, NET The Company is exposed to credit losses primarily through the sale of products and services to commercial customers, which are recorded as Trade receivables. We evaluate a customer’s ability to pay by assessing creditworthiness, historical experience and current business and economic conditions. We determine credit ratings for each customer in our portfolio based upon public information and information obtained directly from our customers. We evaluate the reasonableness of the allowance for credit losses on a quarterly basis or when events and circumstances warrant. In addition to credit quality indicators, the other factors we consider in our evaluation of collectability include the underlying value of any collateral or security interests, past due balances, historical losses, existing economic conditions, and country and political risk. In certain circumstances, we may require collateral or prepayment to mitigate credit risk. We determine receivables are impaired when, based on historical experience, current information and events and a reasonable forecast period, we may be unable to collect amounts due according to the contractual terms of an agreement. Estimated credit losses are written off in the period in which it is determined that an account receivable is no longer collectible. Accounts receivable, net consisted of the following: (dollars in millions) September 30, 2020 December 31, 2019 Trade receivables $ 2,578 $ 2,444 Receivables from affiliates 213 143 Other receivables 169 184 Accounts receivable 2,960 2,771 Less: Allowance for expected credit losses (88) (45) Accounts receivable, net $ 2,872 $ 2,726 The changes in the allowance for expected credit losses related to Accounts receivable, net are as follows: (dollars in millions) Balance as of January 1, 2020 $ 45 Provision for expected credit losses 38 Write-offs charged against the allowance for expected credit losses (2) Other (including impact of adoption of ASU 2016-13) 7 Balance as of September 30, 2020 $ 88

INVENTORIES, NET

INVENTORIES, NET	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES, NET	INVENTORIES, NET (dollars in millions) September 30, 2020 December 31, 2019 Raw materials $ 248 $ 290 Work-in-process 148 120 Finished goods 1,185 922 Inventories, net $ 1,581 $ 1,332

FIXED ASSETS, NET

FIXED ASSETS, NET	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
FIXED ASSETS, NET	FIXED ASSETS, NET Fixed assets are recorded at cost and are depreciated on a straight-line basis over their estimated useful lives. (dollars in millions) Estimated Useful Lives (Years) September 30, 2020 December 31, 2019 Land $ 112 $ 113 Buildings and improvements 40 1,129 1,138 Machinery, tools and equipment 3 to 25 2,047 1,924 Rental assets 3 to 12 404 395 Other, including assets under construction 187 188 Fixed assets, gross 3,879 3,758 Accumulated depreciation (2,203) (2,095) Fixed assets, net $ 1,676 $ 1,663

BUSINESS ACQUISITIONS, DISPOSIT

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS	BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS Business Acquisitions and Dispositions. There were no significant acquisitions o r divestitures during the three and nine months ended September 30, 2020 and 2019. Goodwill. The changes in the carrying amount of goodwill are as follows: (dollars in millions) HVAC Refrigeration Fire & Security Total Balance as of January 1, 2020 $ 5,351 $ 1,228 $ 3,305 $ 9,884 Foreign currency translation 2 5 15 22 Balance as of September 30, 2020 $ 5,353 $ 1,233 $ 3,320 $ 9,906 Intangible Assets, net. Identifiable intangible assets are comprised of the following: September 30, 2020 December 31, 2019 (dollars in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized: Customer relationships $ 1,506 $ (1,223) $ 1,479 $ (1,154) Patents and trademarks 293 (213) 287 (201) Monitoring lines 67 (55) 67 (52) Service portfolios and other 636 (528) 629 (506) 2,502 (2,019) 2,462 (1,913) Unamortized: Trademarks and other 541 — 534 — Intangible assets, net $ 3,043 $ (2,019) $ 2,996 $ (1,913) Amortization of Intangible assets was $26 million and $30 million for the three months ended September 30, 2020 and 2019, respectively, and $76 million and $88 million for the nine months ended September 30, 2020 and 2019, respectively. Annual Impairment Assessment. Goodwill and indefinite-lived intangible assets are tested annually for impairment, or when a triggering event occurs that indicates the fair value of the reporting unit or asset may have decreased below the carrying value. The impairment assessment compares the estimated fair value of each reporting unit or indefinite-lived trademark to its associated carrying value. If the carrying value of the reporting unit or trademark exceeds its estimated fair value, then we record an impairment based on the difference between fair value and carrying value. In the case of a reporting unit, an impairment would not exceed the associated carrying value of goodwill. We performed our annual impairment assessment test of goodwill and indefinite-lived trademarks as of July 1, 2020. As part of our annual impairment testing we considered the impact of the adverse effects of the COVID-19 pandemic on the global economy and our business. To this end, we performed a quantitative impairment assessment that measured the fair value of each reporting unit to its associated carrying value to determine whether it was necessary to recognize a goodwill impairment. Estimating the fair value of individual reporting units and trademarks requires us to make assumptions and estimates regarding our future plans, as well as industry, economic and regulatory conditions, which were updated in performing the impairment assessment. For all reporting units, the fair value of goodwill exceeded the carrying value, resulting in no goodwill impairment. However, for one reporting unit, with goodwill of $917 million, the excess of fair value over the carrying value was approximately 13%. For this reporting unit, a 100 basis point increase in the discount rate used in the financial forecast would result in an impairment of approximately $84 million. The estimated fair value of the reporting unit would be negatively impacted if future economic conditions are worse than our financial forecast and assumptions or there are substantial reductions in our end markets and volume assumptions relative to our financial forecast.

BORROWINGS AND LINES OF CREDIT

BORROWINGS AND LINES OF CREDIT	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
BORROWINGS AND LINES OF CREDIT	BORROWINGS AND LINES OF CREDIT On February 10, 2020, we entered into a revolving credit agreement with various banks permitting aggregate borrowings of up to $2.0 billion pursuant to an unsecured, unsubordinated revolving credit facility that matures on April 3, 2025 (the "revolving credit facility"). The revolving credit facility supports our commercial paper program and cash requirements. A commitment fee of 0.125% is charged on the unused commitments. Borrowings under t he revolving credit facility are available in U.S. Dollars, Euros and Pounds Sterling and bear interest at a variable interest rate based on LIBOR plus a ratings-based margin, which was 125 basis points as of September 30, 2020 . As of September 30, 2020, there were no borrowings under the revolving credit facility. On February 10, 2020, we entered into a $1.75 billion term loan credit agreement that provides an unsecured, unsubordinated term loan credit facility which matures on February 10, 2023 (the "term loan credit facility"). On February 27, 2020, Carrier issued $9.25 billion of unsecured, unsubordinated long-term notes in six series with maturity dates ranging from 2023 through 2050. The notes were issued pursuant to an indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. On March 27, 2020, Carrier drew $1.75 billion on the term loan credit facility. The proceeds from the notes and the term loan credit facility were used to distribute $10.9 billion to UTC in connection with the Separation. The revolving credit facility, term loan credit facility and indenture contain affirmative and negative covenants customary for financings of this type, that among other things, limit Carrier and its subsidiaries' ability to incur additional liens, to make certain fundamental changes and to enter into sale and leaseback transactions. On June 2, 2020, the Company entered into amendments to both the revolving credit facility and the term loan credit facility. Pursuant to the amendments, certain terms of the revolving credit facility and the term loan credit facility were amended for a period beginning on June 2, 2020 and ending on December 30, 2021 (the "Covenant Modification Period"). The Company may terminate the Covenant Modification Period prior to December 30, 2021, subject to the satisfaction of certain conditions. The amendments defer testing of our consolidated total net leverage ratio financial covenant until June 30, 2021 and increase the consolidated total net leverage ratio limit until December 31, 2021. The amendments also require us to maintain liquidity at a certain level until the earlier of (1) June 29, 2021 and (2) the last day of the Covenant Modification Period. Additionally, during the Covenant Modification Period, the Company is subject to (a) limitations on the incurrence of subsidiary indebtedness, (b) limitations on the making of restricted payments, including purchases by the Company of its ordinary shares and the amount of dividends the Company may pay, and (c) a "most favored nations" provision related to certain terms of any committed credit facility in an amount greater than $100 million. As of September 30, 2020, we were compliant with our covenants under the agreements governing our outstanding indebtedness. On June 19, 2020, we issued $750 million of unsecured, unsubordinated 2.700% Notes due 2031. These notes rank equally with our existing unsecured, unsubordinated obligations. The net proceeds from the sale of the notes, which further enhance our liquidity and financial flexibility during the ongoing COVID-19 pandemic, are being used for general corporate purposes. As of September 30, 2020, we have a $2.0 billion unsecured, unsubordinated commercial paper program which we plan to use for general corporate purposes, including the funding of working capital and potential acquisitions. As of September 30, 2020, there were no borrowings outstanding under the commercial paper program. Long-term debt, all of which was issued during the nine months ended September 30, 2020 except for Other long-term debt, consisted of the following: (dollars in millions) Debt Description Interest Rate September 30, 2020 December 31, 2019 3-Year Term Loan Credit Facility due February 10, 2023 1.275 % 1 $ 1,750 2 $ — 1.923% Notes due February 15, 2023 1.923 % 500 2 — 2.242% Notes due February 15, 2025 2.242 % 2,000 2 — 2.493% Notes due February 15, 2027 2.493 % 1,250 2 — 2.722% Notes due February 15, 2030 2.722 % 2,000 2 — 2.700% Notes due February 15, 2031 2.700 % 750 — 3.377% Notes due April 5, 2040 3.377 % 1,500 2 — 3.577% Notes due April 5, 2050 3.577 % 2,000 2 — Other (including project financing obligations and finance leases) 309 319 Total principal long-term debt 12,059 319 Other (discounts and debt issuance costs) (85) — Total debt 11,974 319 Less: current portion of long-term debt 223 237 Long-term debt, net of current portion $ 11,751 $ 82 1 The interest rate on the term loan as of September 30, 2020 was 1.275% which is a variable rate based on one-month LIBOR plus 112.5 basis points. 2 The net proceeds of the financing arrangements were used to distribute cash to UTC. We issued $102 million and $106 million of debt during the nine months ended September 30, 2020 and 2019, respectively, relating to project financing arrangements. Long-term debt repayments during the nine months ended September 30, 2020 and 2019 were $124 million and $98 million, respectively, relating to project financing arrangements. Scheduled maturities of long-term debt, excluding amortization of discount, are as follows: (dollars in millions) 2020 $ 223 2021 $ 45 2022 $ 40 2023 $ 2,251 2024 $ — Thereafter $ 9,500 The average maturity of our long-term debt as of September 30, 2020 is approximate ly 12 years and the weighted-average interest rate on our total borrowings for the three months ended September 30, 2020 is approximately 2.7%. Interest expense associated with long-term debt for the three and nine months ended September 30, 2020 was $90 million and $213 million, respectively. Included in Interest expense, net on the accompanying Unaudited Condensed Consolidated Statement of Operations is amortization of debt issuance costs of $2 million and $5 million, respectively, for the three and nine months ended September 30, 2020. Also included in Interest expense, net for the nine months ended September 30, 2020 are debt issuance costs of $5 million that were expensed in the three months ended March 31, 2020. Included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet was accrued interest of $127 million as of September 30, 2020.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Pension Plans. The Company sponsors both funded and unfunded domestic and international defined benefit pension and other post-retirement benefit plans, and defined contribution plans. Additionally, the Company contributes to various domestic and international multi-employer defined benefit pension and other post-retirement benefit plans. Contributions to the plans were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Defined benefit plans $ 1 $ 2 $ 29 $ 29 Defined contribution plans $ 23 $ 22 $ 78 $ 71 Multi-employer pension plans $ 5 $ 5 $ 15 $ 15 The following table illustrates the components of net periodic pension benefits for our defined benefit pension and post-retirement benefit plans: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Service cost $ 7 $ 7 $ 22 $ 23 Interest cost 13 17 39 50 Expected return on plan assets (35) (37) (104) (115) Amortization of prior service credit 1 — 2 1 Recognized actuarial net loss 5 2 15 7 Net settlement, curtailment and special termination benefit loss — — 1 1 Net periodic pension benefit $ (9) $ (11) $ (25) $ (33) UTC Sponsored Defined Benefit Plans. Defined benefit pension and post-retirement benefit plans sponsored by UTC have been accounted for as multi-employer plans in the Unaudited Condensed Consolidated Financial Statements, in accordance with ASC Topic 715-30 – Defined Benefit Plans – Pension and ASC Topic 715-60 – Defined Benefit Plans – Other Post-retirement . ASC Topic 715 – Compensation-Retirement Benefits, provides that an employer that participates in a multi-employer defined benefit plan is not required to report a liability beyond the contributions currently due and unpaid to the plan. Therefore, no assets or liabilities related to these plans have been included in the Unaudited Condensed Consolidated Balance Sheet. The expenses associated with these UTC plans were allocated to the Company and reported in Cost of products sold, Cost of services sold, Selling, general and administrative and Non-service pension benefit on the accompanying Unaudited Condensed Consolidated Statement of Operations. The Company's participation in these defined benefit pension and post-retirement benefits plans sponsored by UTC has concluded in conjunction with the Separation. The pension and post-retirement expense and benefits were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Service cost $ — $ 4 $ — $ 13 Non-service pension benefit — (20) (2) (59) Total net periodic benefit $ — $ (16) $ (2) $ (46)

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock-Based Compensation. Prior to the Separation and Distribution, Carrier participated in UTC’s long-term incentive plans ("LTIP") which authorized various types of market and performance-based incentive awards, including stock options, stock appreciation rights, performance share units and restricted stock units, which were granted to eligible Carrier officers and employees. All awards granted under the UTC LTIP related to UTC common shares. As a result of the Separation and Distribution, outstanding and vested awards granted to employees under UTC's LTIP were generally converted into Carrier, Otis and UTC stock-based awards. Unvested awards held by Carrier employees and former employees were converted to Carrier stock-based awards. The ratio used to convert the UTC LTIP awards was intended to preserve the aggregate intrinsic value of each award immediately after the Separation and the Distribution when compared to the aggregate intrinsic value immediately prior to the Separation and the Distribution. All performance share units outstanding on the Distribution Date were converted to restricted stock units using payout metrics based on a combination of actual performance through the Distribution Date and the target for the remainder of the performance period. Subsequent to and due to the conversion, we expect to incur $14 million of incremental stock-based compensation expense to be recognized over the awards' remaining 1.5 year vesting period. Under Carrier's LTIP, the exercise price of awards, if any, is set on the grant date and, on a per share basis, may not be less than the fair market value of Carrier's common stock on that date on a per share basis. Stock appreciation rights and stock options have a term of ten years and a three-year vesting period, subject to limited exceptions. In the event of retirement, stock appreciation rights, stock options and restricted stock units held for more than one year may vest and become exercisable (if applicable), subject to certain terms and conditions. Performance share units vest based on performance relative to pre-established metrics and generally have a minimum three-year vesting period. In the event of retirement, performance share units held for more than one year remain eligible to vest based on actual performance relative to pre-established metrics. We measure the cost of stock-based compensation, including stock options, at fair value on the grant date net of expected forfeitures and amortize the cost over the awards vesting period. We recognized $21 million and $18 million of stock-based compensation expense for the three months ended September 30, 2020 and 2019 and $56 million and $40 million for the nine months ended September 30, 2020 and 2019, respectively. In addition, we recognized $5 million and $2 million of stock-based compensation expense for cash settled awards for the three months ended September 30, 2020 and 2019, respectively, and $2 million for each of the nine months ended September 30, 2020 and 2019. The stock-based compensation expense for periods prior to March 31, 2020 represent amounts allocated to us from UTC for our direct employees. At September 30, 2020, there was $107 million of unrecognized stock-based compensation costs related to non-vested awards granted under the Carrier LTIP, which will be recognized ratably over a weighted-average period of 2.2 years. Carrier LTIP activity for the nine months ended September 30, 2020 was as follows: Stock Options and Stock Appreciation Rights Performance Share Units Restricted Share Units Average Average Average (shares and units in thousands) Shares Price 1 Units Price 2 Units Price 2 Outstanding as of April 3, 2020 3 36,015 $ 19.90 68 $ 21.23 5,622 $ 21.37 Granted 3,753 $ 16.62 728 $ 18.23 443 $ 18.98 Exercised (984) $ 15.52 — $ — (116) $ 20.42 Forfeited/Cancelled (509) $ 22.73 (22) $ 19.25 (108) $ 22.25 Outstanding as of September 30, 2020 38,275 $ 19.66 774 $ 18.48 5,841 $ 21.27 1 Weighted-average exercise price 2 Weighted-average grant date fair value 3 Effective date of conversion upon the Separation The weighted-average fair value of stock appreciation rights granted during the nine months ended September 30, 2020 was $4.36. The following table summarizes outstanding Carrier LTIP awards that are vested and expected to vest (adjusted for expected forfeitures) and that are exercisable at September 30, 2020: Equity Awards Vested and Expected to Vest Equity Awards That Are Exercisable (shares and units in thousands; aggregate intrinsic value in dollars in thousands) Awards Average Price 1 Aggregate Intrinsic Value Remaining Life 2 Awards Average Price 1 Aggregate Intrinsic Value Remaining Life 2 Stock Options/ Stock Appreciation Rights 36,868 $ 19.61 $ 403,105 6.7 16,173 $ 16.97 $ 219,447 4.2 Performance Share Units/ Restricted Stock Units 6,291 $ 20.96 $ 192,116 1.8 1 Weighted-average exercise price per share 2 Weighted-average remaining contractual term in years for stock options and stock appreciation rights; weighted-average remaining vesting period in years for performance share units and restricted stock units The fair value of stock appreciation rights is estimated on the date of grant using a binomial model. The following assumptions were used in the binomial model for the nine months ended September 30, 2020: For the Nine Months Ended September 30, 2020 Volatility 35.6 % Expected life (in years) 7.0 Expected dividend yield 2.0 % Range of risk-free rate 0.1% - 1.0% Carrier has limited historical trading data and used peer group data to estimate expected volatility. Carrier used historical Carrier employee data, including data prior to the Separation, to estimate expected life. The expected dividend yield is consistent with Carrier's dividend policy on an annualized basis. The risk-free rate is based on the term structure of interest rates at the time of award grant.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the three and nine months ended September 30, 2020 and 2019 is as follows: (dollars in millions) Foreign Currency Translation Defined Benefit Pension and Post-retirement Plans Accumulated Other Comprehensive Loss Three Months Ended September 30, 2020 Balance as of June 30, 2020 $ (1,018) $ (461) $ (1,479) Other comprehensive income before reclassifications, net 302 — 302 Amounts reclassified, pre-tax — 6 6 Tax expense reclassified — (1) (1) Balance as of September 30, 2020 $ (716) $ (456) $ (1,172) Nine Months Ended September 30, 2020 Balance as of January 1, 2020 $ (780) $ (473) $ (1,253) Other comprehensive income before reclassifications, net 64 2 66 Amounts reclassified, pre-tax — 18 18 Tax benefit reclassified — (3) (3) Balance as of September 30, 2020 $ (716) $ (456) $ (1,172) (dollars in millions) Foreign Currency Translation Defined Benefit Pension and Post-retirement Plans Accumulated Other Comprehensive Loss Three Months Ended September 30, 2019 Balance as of June 30, 2019 $ (821) $ (381) $ (1,202) Other comprehensive loss before reclassifications, net (274) — (274) Amounts reclassified, pre-tax — 2 2 Balance as of September 30, 2019 $ (1,095) $ (379) $ (1,474) Nine Months Ended September 30, 2019 Balance as of January 1, 2019 $ (834) $ (381) $ (1,215) Other comprehensive (loss) income before reclassifications, net (261) 2 (259) Amounts reclassified, pre-tax — 9 9 ASU 2018-02 adoption impact — (9) (9) Balance as of September 30, 2019 $ (1,095) $ (379) $ (1,474) Amounts reclassified related to defined benefit pension and post-retirement plans include amortization of prior service costs and recognized actuarial net losses. These costs are recorded as components of net periodic pension cost for each period presented (see Note 11 – Employee Benefit Plans for additional details).

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective tax rate for the three and nine months ended September 30, 2020 was 25.9% and 33.4%, respectively, compared with 25.8% and 18.3%, respectively, for the three and nine months ended September 30, 2019. The increase in the effective tax rate for the three months ended September 30, 2020 is primarily due to the absence of a net tax reduction resulting from separation-related activities impacting non-U.S. deferred taxes, partially offset by a tax reduction for the 2020 tax year from the finalization of the U.S. Treasury Global Intangible Low-Taxed Income ("GILTI") High Tax Exclusion ("HTE") regulations. The increase in the effective tax rate for the nine months ended September 30, 2020 is primarily due to the absence of a prior year combined tax benefit of $149 million resulting from the filing by a Carrier subsidiary to participate in an amnesty program offered by the Italian Tax Authority and the conclusion of an audit by the Internal Revenue Service (the "IRS") for UTC's 2014, 2015 and 2016 tax years. In addition, during the current year the Company recognized a $51 million charge related to a valuation allowance recorded against a United Kingdom tax loss and a credit carry forward as a result of activities related to the Separation, and a charge of $46 million resulting from Carrier's decision to no longer permanently reinvest certain pre-2018 unremitted non-U.S. earnings. The Company assesses the realizability of its deferred tax assets on a quarterly basis through an analysis of potential sources of future taxable income, including prior year taxable income available to absorb a carryback of tax losses, reversals of existing taxable temporary differences, tax planning strategies and forecasts of taxable income. The Company considers all negative and positive evidence, including the weight of the evidence, to determine if valuation allowances against deferred tax assets are required. The Company maintains valuation allowances against certain non-U.S. deferred tax assets. We will continue to evaluate the impact that the COVID-19 pandemic and other economic impacts may have on the future realizability of a portion of the remaining deferred tax assets. Carrier conducts business globally and, as a result, files income tax returns in U.S. federal and various state and foreign jurisdictions. In certain jurisdictions, Carrier's operations were included in UTC's combined tax returns for the periods through the Separation. The IRS commenced an audit of UTC's tax years 2017 and 2018 in the second quarter of 2020. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including Australia, Belgium, Canada, China, Czech Republic, France, Germany, Hong Kong, India, Italy, Mexico, Netherlands, Singapore, the United Kingdom and the United States. Carrier is no longer subject to U.S. federal income tax examination for years prior to 2017 and, with few exceptions, is no longer subject to state and local and foreign income tax examinations for tax years before 2010. Income taxes through March 31, 2020 were recorded based on a "carve-out" and separate company basis. Prior to the Separation, the Company’s portion of income taxes for domestic and certain foreign jurisdictions were deemed settled in the period the related tax expense was recorded. After the Separation, the Company’s income taxes are prepared on a stand-alone basis. The Company reduced its forecasted annualized effective tax rate in the three months ended September 30, 2020 partially due to the impact of applying the election of the HTE regulations to the 2020 tax year results. The HTE regulation also permitted a company to elect to apply the regulations retroactively to the years 2018 and 2019. In accordance with the TMA, if the HTE election were made by an amended return by the Company for 2018 and 2019, UTC would be entitled to any federal tax benefit. The Company on a stand-alone basis did not record a benefit from the HTE regulation associated with the years 2018 and 2019 and the amount would not have been material to the Condensed Consolidated Statement of Operations. Pursuant to the TMA, Carrier is required to make payments to UTC representing Carrier's portion of UTC's remaining net tax liability attributable to U.S. income tax on previously undistributed earnings of Carrier's international subsidiaries resulting from the passage of the Tax Cuts and Jobs Act of 2017 (the "TCJA"). The balances computed on a separate company basis of approximately $68 million recorded within Accrued liabilities and $701 million recorded within Future income tax obligations were adjusted through UTC Net investment upon the Separation, resulting in a future stand-alone obligation of $453 million recorded within Other long-term liabilities and $6 million within Accrued liabilities. This obligation is expected to be settled in six annual installments, beginning April 15, 2021. After the Separation, Carrier is entitled to unrecognized tax benefits to the extent the item relates exclusively to Carrier in accordance with the TMA. The change from a separate company to stand-alone basis resulted in a decrease of $37 million to Future income tax obligations and $27 million to Future income tax benefits, both of which were recorded through UTC Net investment subsequent to the Separation.

RESTRUCTURING COSTS

RESTRUCTURING COSTS	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING COSTS	RESTRUCTURING COSTS During the three and nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 HVAC $ — $ 12 $ 3 $ 47 Refrigeration (1) 7 2 14 Fire & Security 4 14 13 35 Eliminations and other — 1 1 1 Total restructuring costs $ 3 $ 34 $ 19 $ 97 Restructuring charges incurred during the nine months ended September 30, 2020 and 2019 primarily relate to actions initiated during 2020 and 2019, and were recorded as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Cost of sales $ (1) $ 14 $ 5 $ 27 Selling, general and administrative 4 20 14 70 Total restructuring costs $ 3 $ 34 $ 19 $ 97 2020 Actions. During the nine months ended September 30, 2020, we recorded net pre-tax restructuring costs of $18 million for restructuring actions initiated in 2020, consisting of $7 million in Cost of products sold and Cost of services sold and $11 million in Selling, general and administrative. The 2020 actions relate t o ongoing cost reduction efforts, including workforce reductions and the consolidation of field operations. We are targeting to complete the majority of the remaining actions in 2021. The following table summarizes the accrual balance and utilization for the 2020 restructuring actions: (dollars in millions) Severance Facility Exit, Total For the Three Months Ended September 30, 2020 Restructuring accrual as of June 30, 2020 $ 8 $ 1 $ 9 Net pre-tax restructuring costs 5 — 5 Utilization, foreign exchange and other costs (4) — (4) Balance as of September 30, 2020 $ 9 $ 1 $ 10 For the Nine Months Ended September 30, 2020 Restructuring accrual as of January 1, 2020 $ — $ — $ — Net pre-tax restructuring costs 17 1 18 Utilization, foreign exchange and other costs (8) — (8) Balance as of September 30, 2020 $ 9 $ 1 $ 10 The following table summarizes expected, incurred and remaining costs for the 2020 restructuring actions by segment: (dollars in millions) Expected Costs Costs Incurred - Three Months Ended March 31, 2020 Costs Incurred - Three Months Ended June 30, 2020 Costs Incurred - Three Months Ended September 30, 2020 Remaining Costs at September 30, 2020 HVAC $ 5 $ (1) $ (2) $ (1) $ 1 Refrigeration 3 — (3) — — Fire & Security 13 (1) (5) (4) 3 Eliminations and other 1 — (1) — — Total $ 22 $ (2) $ (11) $ (5) $ 4 2019 Actions. During the nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs totaling $3 million and $82 million, respectively, for restructuring actions initiated in 2019, consisting of $0 million and $20 million in Cost of products sold and Cost of services sold and $3 million and $62 million in Selling, general and administrative, respectively. The 2019 actions relate to ongoing cost reduction efforts, including workforce reductions and consolidation of field operations. The following table summarizes the accrual balances and utilization for the 2019 restructuring actions: (dollars in millions) Severance Facility Exit, Total For the Three Months Ended September 30, 2020 Restructuring accrual as of June 30, 2020 $ 27 $ — $ 27 Net pre-tax restructuring costs — — — Utilization, foreign exchange and other costs (5) — (5) Balance as of September 30, 2020 $ 22 $ — $ 22 For the Nine Months Ended September 30, 2020 Restructuring accrual as of January 1, 2020 $ 43 $ 1 $ 44 Net pre-tax restructuring costs 3 — 3 Utilization, foreign exchange and other costs (24) (1) (25) Balance as of September 30, 2020 $ 22 $ — $ 22 The following table summarizes expected, incurred and remaining costs for the 2019 restructuring actions by segment: (dollars in millions) Expected Costs Incurred in 2019 Costs Incurred - Three Months Ended March 31, 2020 Costs Incurred - Three Months Ended June 30, 2020 Costs Incurred - Three Months Ended September 30, 2020 Remaining Costs at September 30, 2020 HVAC $ 53 $ (51) $ (1) $ 2 $ (1) $ 2 Refrigeration 16 (14) — (1) 1 2 Fire & Security 49 (43) (2) (1) — 3 Eliminations and other 2 (2) — — — — Total $ 120 $ (110) $ (3) $ — $ — $ 7 2018 and Prior Actions. During the nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs totaling $(2) million and $16 million, respectively, for restructuring actions initiated in 2018 and prior, consisting of $(1) million and $7 million in Cost of products sold and Cost of services sold, respectively, and $(1) million and $9 million in Selling, general and administrative, respectively. As of September 30, 2020 and 2019, we had approximately $7 million and $28 million, respectively, of accrual balances remaining related to 2018 and prior actions.

GUARANTEES

GUARANTEES	9 Months Ended
	Sep. 30, 2020
Guarantees [Abstract]
GUARANTEES	GUARANTEES The Company provides service and warranty coverage on its products and extends performance and operating cost guarantees beyond normal service and warranty coverage on some of its products. In addition, the Company incurs discretionary costs to service its products in connection with specific product performance issues. Liabilities for performance and operating cost guarantees are based upon future product performance and durability and are largely estimated based upon historical experience. Adjustments are recorded to accruals based on claims data and historical experience. The changes in the carrying amount of service and product warranties and product performance guarantees, included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet, for the nine months ended September 30, 2020 and 2019 are as follows: For the Nine Months Ended September 30, (dollars in millions) 2020 2019 Balance as of January 1 $ 488 $ 473 Warranties, performance guarantees issued and changes in estimated liability 131 133 Settlements made (111) (126) Other 1 (2) Balance as of September 30 $ 509 $ 478

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS We invest a portion of our Cash and cash equivalents in money market mutual funds with original maturities of less than three months. We manage foreign currency transaction exposures through operational strategies and the use of foreign currency hedging contracts. In accordance with the provisions of ASC Topic 820 – Fair Value Measurement, the following tables provide the valuation hierarchy classification of assets and liabilities that are recorded at fair value and measured on a recurring basis in our Unaudited Condensed Consolidated Balance Sheet: September 30, 2020 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurement: Money market mutual funds $ 38 1 $ — $ 38 $ — Derivative assets $ 15 2 $ — $ 15 $ — Derivative liabilities $ (33) 3 $ — $ (33) $ — 1 Included in Cash and cash equivalents on the accompanying Unaudited Condensed Consolidated Balance Sheet 2 Included in Other assets, current on the accompanying Unaudited Condensed Consolidated Balance Sheet 3 Included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet Valuation Techniques. Our derivative assets and liabilities are measured at fair value using internal models based on observable market inputs, such as forward rate, interest rate, contract rate and discount rate. The following table provides the carrying amounts and fair values of financial instruments that are not recorded at fair value in our Unaudited Condensed Consolidated Balance Sheet: September 30, 2020 December 31, 2019 (dollars in millions) Carrying Fair Carrying Fair Current and long-term debt (excluding finance leases) $ 11,969 $ 12,531 $ 313 $ 313 The following tables provide the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Unaudited Condensed Consolidated Balance Sheet: September 30, 2020 (dollars in millions) Total Level 1 Level 2 Level 3 Current and long-term debt (excluding finance leases) $ 12,531 $ 10,478 $ — $ 2,053 December 31, 2019 (dollars in millions) Total Level 1 Level 2 Level 3 Current and long-term debt (excluding finance leases) $ 313 $ — $ — $ 313 Valuation Techniques. Based on the information available as of September 30, 2020, the fair value of the term loan credit facility was estimated on the basis of the present value of the expected future cash flows contractually due in accordance with the terms of the term loan credit agreement, a Level 3 measurement. The cash flows were discounted using the LIBOR rate at the valuation date based on the terms of the term loan credit agreement and adjusted for any change in credit risk premium. At September 30, 2020, the project financing obligations included in Long-term debt approximate fair value. Du ring the three months ended September 30, 2020 and 2019, there were no transfers in or out of Levels 1, 2 or 3. The following table presents changes during the nine months ended September 30, 2020 and 2019 in Level 3 liabilities not measured at fair value on a recurring basis: For the Nine Months Ended September 30, (dollars in millions) 2020 2019 Fair value as of January 1 $ 313 $ 291 Issuances, including interest on project financing obligations 1,865 118 Settlements (125) (98) Fair value as of September 30 $ 2,053 $ 311

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES The Company is unable to predict the final outcome of the following matters based on the information currently available except as otherwise noted. However, the Company does not believe that the resolution of any of these matters will have a material adverse effect upon our competitive position, results of operations, cash flows or financial condition. Environmental. The Company’s operations are subject to environmental regulation by various authorities. We have accrued for the costs of environmental remediation activities, including but not limited to investigatory, remediation, operating and maintenance costs and performance guarantees, and we periodically reassess these amounts. Management believes that the likelihood of incurring losses materially in excess of the amounts accrued is remote. As of September 30, 2020 and December 31, 2019, the outstanding liability for environmental obligations was $233 million and $217 million, respectively, of which $13 million and $14 million, respectively, is included in Accrued liabilities and $220 million and $203 million, respectively, is included in Other long-term liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet. Legal Proceedings. Asbestos Matters – The Company and its consolidated subsidiaries have been named as defendants in lawsuits alleging personal injury as a result of exposure to asbestos allegedly integrated into certain Carrier products or business premises. While the Company has never manufactured asbestos and no longer incorporates it into any currently-manufactured products, certain products that Carrier no longer manufactures contained components incorporating asbestos. A substantial majority of these asbestos-related claims have been dismissed without payment or were covered in full or in part by insurance or other forms of indemnity. Additional cases were litigated and settled without any insurance reimbursement. The amounts involved in asbestos-related claims were not material individually or in the aggregate in any period. The amounts recorded for asbestos-related liabilities are based on currently available information and assumptions that we believe are reasonable and are made with input from outside actuarial experts. As of September 30, 2020, the estimated range of liability to resolve all pending and unasserted potential future asbestos claims through 2059 is approximately $250 million to $290 million. Where no amount within a range of estimates is more likely, the minimum is accrued. We have recorded the minimum amount of $250 million and $255 million, which is principally recorded in Other long-term liabilities on the Unaudited Condensed Consolidated Balance Sheet, as of September 30, 2020 and December 31, 2019, respectively. These amounts are undiscounted and exclude the Company’s legal fees to defend the asbestos claims, which are expensed as incurred. In addition, the Company has recorded an insurance recovery receivable for probable asbestos-related recoveries of approximately $104 million and $104 million, which is included primarily in Other assets on the Unaudited Condensed Consolidated Balance Sheet, as of September 30, 2020 and December 31, 2019, respectively. UTC Equity Awards Conversion Litigation . On August 12, 2020, several former employees of UTC or its subsidiaries filed a putative class action complaint in the United States District Court for the District of Connecticut against UTC, Carrier, and Otis, the former members of the UTC Board of Directors, and the members of the Carrier and Otis Boards of Directors ( Geraud Darnis, et al. v. Raytheon Technologies Corporation, et al. ). The complaint challenges the method by which UTC equity awards were converted to UTC, Carrier, and Otis equity awards following the separation of UTC into three independent, publicly traded companies on April 3, 2020. The complaint claims that the defendants are liable for breach of certain equity compensation plans and for breach of fiduciary duty, and also asserts claims under certain provisions of Employee Retirement Income Security Act of 1974 ("ERISA"). Carrier believes that the claims against the Company are without merit. Income Taxes. As described in Note 1 – Description of the Business, under the TMA the Company is responsible to UTC for its share of the TCJA transition tax associated with foreign undistributed earnings as of December 31, 2017. As of September 30, 2020, a liability of $72 million, primarily related to our share of TCJA transition tax associated with foreign undistributed earnings is included within Other long-term lia bilities on the accompanying Unaudited Condensed Consolidated Balance Sheet. We believe that the likelihood of incurring losses materially in excess of this amount is remote. Other. As described in Note 16 – Guarantees , the Company extends performance and operating cost guarantees beyond the normal warranty and service policies for extended periods on some of its products. The Company typically accrues its estimate of the liability that may result under these guarantees and for service costs that are probable and can be reasonably estimated. The Company has other commitments and contingent liabilities related to legal proceedings, self-insurance programs and matters arising in the ordinary course of business. The Company accrues for contingencies generally based upon a range of possible outcomes. If no amount within the range is a better estimate than any other, the Company accrues the minimum amount. In the ordinary course of business, Carrier is routinely a defendant in, party to or otherwise subject to pending and threatened legal actions, claims, disputes and proceedings. These matters are often based on alleged violations of contract, product liability, warranty, regulatory, environmental, health and safety, employment, intellectual property, tax and other laws. In some of these proceedings or instances, claims for substantial monetary damages are asserted against the Company and its subsidiaries and could result in fines, penalties, compensatory or treble damages or non-monetary relief. We do not believe that these matters will have a material adverse effect upon our competitive position, results of operations, cash flows or financial condition.

SEGMENT FINANCIAL DATA

SEGMENT FINANCIAL DATA	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENT FINANCIAL DATA	SEGMENT FINANCIAL DATA Carrier’s operations are classified into three segments: HVAC, Refrigeration and Fire & Security. HVAC provides products, controls, services and solutions to meet the heating and cooling needs of residential and commercial customers, while enhancing building performance, energy efficiency and sustainability. Refrigeration is comprised of transport refrigeration and commercial refrigeration products and solutions. Transport refrigeration products and services include refrigeration and monitoring systems for trucks, trailers, shipping containers, intermodal and rail. Fire & Security includes a wide range of residential and building systems products and solutions, including fire, flame, gas, smoke and carbon monoxide detection; portable fire extinguishers; fire suppression systems; intruder alarms; access control systems and video management systems. Other fire and security service offerings include audit, design, installation and system integration, as well as aftermarket maintenance and repair and monitoring services. Segment Information. Segment information for the periods presented are as follows: Net Sales Operating Profit For the Three Months Ended September 30, For the Three Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 HVAC $ 2,892 $ 2,602 $ 839 $ 404 Refrigeration 876 922 103 125 Fire & Security 1,324 1,402 200 205 Total segment 5,092 4,926 1,142 734 Eliminations and other (90) (104) (31) (63) General corporate expenses — — (30) (42) Consolidated $ 5,002 $ 4,822 $ 1,081 $ 629 Net Sales Operating Profit For the Nine Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 HVAC $ 7,142 $ 7,505 $ 1,364 $ 1,242 Refrigeration 2,384 2,839 263 373 Fire & Security 3,587 4,078 426 521 Total segment 13,113 14,422 2,053 2,136 Eliminations and other (251) (315) (122) (95) General corporate expenses — — (93) (107) Consolidated $ 12,862 $ 14,107 $ 1,838 $ 1,934 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. presented in the table below, there were no individually significant countries with sales exceeding 10% of total sales during the nine months ended September 30, 2020 and 2019. For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 United States Operations $ 2,780 $ 2,541 $ 6,983 $ 7,473 International Operations Europe 1,307 1,313 3,455 3,906 Asia Pacific 715 729 1,879 2,079 Other 200 239 545 649 Consolidated $ 5,002 $ 4,822 $ 12,862 $ 14,107 Products sales and Service sales. Segment sales disaggregated by product and service are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Sales Type Product $ 2,547 $ 2,224 $ 6,180 $ 6,455 Service 345 378 962 1,050 HVAC sales 2,892 2,602 7,142 7,505 Product 771 823 2,093 2,551 Service 105 99 291 288 Refrigeration sales 876 922 2,384 2,839 Product 965 1,055 2,587 3,011 Service 359 347 1,000 1,067 Fire & Security sales 1,324 1,402 3,587 4,078 Total segment sales 5,092 4,926 13,113 14,422 Eliminations and other (90) (104) (251) (315) Consolidated $ 5,002 $ 4,822 $ 12,862 $ 14,107

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting	The Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. All significant intra-company accounts and transactions have been eliminated in the preparation of the Unaudited Condensed Consolidated Financial Statements. Related party transactions between the Company and its equity method investees have not been eliminated.
New Accounting Pronouncements	In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . This ASU and its related amendments (collectively, the "Credit Loss Standard") modified the credit loss model to utilize an expected loss methodology in place of an incurred loss methodology for financial instruments, including trade receivables, contract assets, long-term receivables and off-balance sheet credit exposures. The Credit Loss Standard requires consideration of a broader range of information to estimate expected credit losses, including historical information, current conditions and a reasonable forecast period. This ASU requires that the statement of operations reflect the measurement of credit losses for newly recognized financial assets as well as an expected increase or decrease of expected credit losses that have taken place during the period, which may result in earlier recognition. The Company adopted the Credit Loss Standard effective January 1, 2020, utilizing a modified retrospective approach and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . This ASU simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Under this ASU, a goodwill impairment is calculated as the difference between the carrying amount of the reporting unit and its fair value, but not to exceed the carrying amount of the goodwill allocated to that reporting unit. Additionally, this ASU requires the same impairment testing methodology for all reporting units, even those with a zero or negative carrying amount, and requires an entity to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement . This ASU removes the disclosure requirements for the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. Recently Issued SEC Rules In May 2020, the SEC issued Final Rule Release No. 33-10786, which amends the financial statement requirements for acquisitions and dispositions of businesses and related pro forma financial information required under SEC Regulation S-X, Rule 3-05. The final rule modifies the significance test required in SEC Regulation S-X, Rule 1-02(w) by raising the significance threshold for reporting dispositions of a business from 10% to 20% and by modifying the calculation of the investment and income tests. In accordance with Rules 3-09 or 4-08(g), the revised income test will apply to the evaluation of equity method investments for significance. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning after December 31, 2020. In August 2020, the SEC issued Final Rule Release No. 33-10825, which amends certain disclosure requirements required by Regulation S-K relating to the description of business (Item 101), legal proceedings (Item 103) and risk factors (Item 105). The amendments to Item 101 will, among other things, allow the Company to provide updates regarding the business based on materiality, if it incorporates by reference disclosure from a previous SEC filing. The amendment also requires disclosures regarding the registrant’s human capital resources to the extent such disclosures would be material to an understanding of the registrant’s business. The amendments to Item 103 will, among other things, increase the quantitative threshold for disclosing certain environmental proceedings, and the amendments to Item 105 will, among other things, require a risk factor summary if the risk factors section is longer than 15 pages. The Company is currently evaluating the impact of these modifications, which are effective on November 9, 2020.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended September 30, Nine Months Ended September 30, (dollars in millions, except per share amounts; shares in millions) 2020 2019 2020 2019 Net income attributable to common shareowners $ 741 $ 492 $ 1,098 $ 1,676 Basic weighted-average number of shares outstanding 866.4 866.2 866.3 866.2 Stock awards and equity units (share equivalent) 15.1 — 9.9 — Diluted weighted-average number of shares outstanding 881.5 866.2 876.2 866.2 Earnings Per Share Basic $ 0.86 $ 0.57 $ 1.27 $ 1.94 Diluted $ 0.84 $ 0.57 $ 1.25 $ 1.94

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	Total contract assets and liabilities are as follows: (dollars in millions) September 30, 2020 December 31, 2019 Contract assets, current $ 753 $ 622 Contract assets, non-current (included within Other assets) 75 57 Total contract assets 828 679 Contract liabilities, current (495) (443) Contract liabilities, non-current (included within Other long-term liabilities) (166) (168) Total contract liabilities (661) (611) Net contract assets $ 167 $ 68

ACCOUNTS RECEIVABLE, NET (Table

ACCOUNTS RECEIVABLE, NET (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Accounts receivable, net consisted of the following: (dollars in millions) September 30, 2020 December 31, 2019 Trade receivables $ 2,578 $ 2,444 Receivables from affiliates 213 143 Other receivables 169 184 Accounts receivable 2,960 2,771 Less: Allowance for expected credit losses (88) (45) Accounts receivable, net $ 2,872 $ 2,726
Accounts Receivable, Allowance for Credit Loss	The changes in the allowance for expected credit losses related to Accounts receivable, net are as follows: (dollars in millions) Balance as of January 1, 2020 $ 45 Provision for expected credit losses 38 Write-offs charged against the allowance for expected credit losses (2) Other (including impact of adoption of ASU 2016-13) 7 Balance as of September 30, 2020 $ 88

INVENTORIES, NET (Tables)

INVENTORIES, NET (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	(dollars in millions) September 30, 2020 December 31, 2019 Raw materials $ 248 $ 290 Work-in-process 148 120 Finished goods 1,185 922 Inventories, net $ 1,581 $ 1,332

FIXED ASSETS, NET (Tables)

FIXED ASSETS, NET (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	(dollars in millions) Estimated Useful Lives (Years) September 30, 2020 December 31, 2019 Land $ 112 $ 113 Buildings and improvements 40 1,129 1,138 Machinery, tools and equipment 3 to 25 2,047 1,924 Rental assets 3 to 12 404 395 Other, including assets under construction 187 188 Fixed assets, gross 3,879 3,758 Accumulated depreciation (2,203) (2,095) Fixed assets, net $ 1,676 $ 1,663

BUSINESS ACQUISITIONS, DISPOS_2

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill are as follows: (dollars in millions) HVAC Refrigeration Fire & Security Total Balance as of January 1, 2020 $ 5,351 $ 1,228 $ 3,305 $ 9,884 Foreign currency translation 2 5 15 22 Balance as of September 30, 2020 $ 5,353 $ 1,233 $ 3,320 $ 9,906
Intangible Assets Disclosure	Identifiable intangible assets are comprised of the following: September 30, 2020 December 31, 2019 (dollars in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized: Customer relationships $ 1,506 $ (1,223) $ 1,479 $ (1,154) Patents and trademarks 293 (213) 287 (201) Monitoring lines 67 (55) 67 (52) Service portfolios and other 636 (528) 629 (506) 2,502 (2,019) 2,462 (1,913) Unamortized: Trademarks and other 541 — 534 — Intangible assets, net $ 3,043 $ (2,019) $ 2,996 $ (1,913)
Schedule of Indefinite-Lived Intangible Assets	Identifiable intangible assets are comprised of the following: September 30, 2020 December 31, 2019 (dollars in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized: Customer relationships $ 1,506 $ (1,223) $ 1,479 $ (1,154) Patents and trademarks 293 (213) 287 (201) Monitoring lines 67 (55) 67 (52) Service portfolios and other 636 (528) 629 (506) 2,502 (2,019) 2,462 (1,913) Unamortized: Trademarks and other 541 — 534 — Intangible assets, net $ 3,043 $ (2,019) $ 2,996 $ (1,913)

BORROWINGS AND LINES OF CREDIT

BORROWINGS AND LINES OF CREDIT (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt, all of which was issued during the nine months ended September 30, 2020 except for Other long-term debt, consisted of the following: (dollars in millions) Debt Description Interest Rate September 30, 2020 December 31, 2019 3-Year Term Loan Credit Facility due February 10, 2023 1.275 % 1 $ 1,750 2 $ — 1.923% Notes due February 15, 2023 1.923 % 500 2 — 2.242% Notes due February 15, 2025 2.242 % 2,000 2 — 2.493% Notes due February 15, 2027 2.493 % 1,250 2 — 2.722% Notes due February 15, 2030 2.722 % 2,000 2 — 2.700% Notes due February 15, 2031 2.700 % 750 — 3.377% Notes due April 5, 2040 3.377 % 1,500 2 — 3.577% Notes due April 5, 2050 3.577 % 2,000 2 — Other (including project financing obligations and finance leases) 309 319 Total principal long-term debt 12,059 319 Other (discounts and debt issuance costs) (85) — Total debt 11,974 319 Less: current portion of long-term debt 223 237 Long-term debt, net of current portion $ 11,751 $ 82 1 The interest rate on the term loan as of September 30, 2020 was 1.275% which is a variable rate based on one-month LIBOR plus 112.5 basis points. 2 The net proceeds of the financing arrangements were used to distribute cash to UTC.
Schedule of Maturities of Long-term Debt	Scheduled maturities of long-term debt, excluding amortization of discount, are as follows: (dollars in millions) 2020 $ 223 2021 $ 45 2022 $ 40 2023 $ 2,251 2024 $ — Thereafter $ 9,500

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Schedule of Employer Contributions to Plans	Contributions to the plans were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Defined benefit plans $ 1 $ 2 $ 29 $ 29 Defined contribution plans $ 23 $ 22 $ 78 $ 71 Multi-employer pension plans $ 5 $ 5 $ 15 $ 15
Schedule of Defined Benefit Plans Disclosures	The following table illustrates the components of net periodic pension benefits for our defined benefit pension and post-retirement benefit plans: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Service cost $ 7 $ 7 $ 22 $ 23 Interest cost 13 17 39 50 Expected return on plan assets (35) (37) (104) (115) Amortization of prior service credit 1 — 2 1 Recognized actuarial net loss 5 2 15 7 Net settlement, curtailment and special termination benefit loss — — 1 1 Net periodic pension benefit $ (9) $ (11) $ (25) $ (33)
Schedule of Multiemployer Plans	The pension and post-retirement expense and benefits were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Service cost $ — $ 4 $ — $ 13 Non-service pension benefit — (20) (2) (59) Total net periodic benefit $ — $ (16) $ (2) $ (46)

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	Carrier LTIP activity for the nine months ended September 30, 2020 was as follows: Stock Options and Stock Appreciation Rights Performance Share Units Restricted Share Units Average Average Average (shares and units in thousands) Shares Price 1 Units Price 2 Units Price 2 Outstanding as of April 3, 2020 3 36,015 $ 19.90 68 $ 21.23 5,622 $ 21.37 Granted 3,753 $ 16.62 728 $ 18.23 443 $ 18.98 Exercised (984) $ 15.52 — $ — (116) $ 20.42 Forfeited/Cancelled (509) $ 22.73 (22) $ 19.25 (108) $ 22.25 Outstanding as of September 30, 2020 38,275 $ 19.66 774 $ 18.48 5,841 $ 21.27 1 Weighted-average exercise price 2 Weighted-average grant date fair value 3 Effective date of conversion upon the Separation The following table summarizes outstanding Carrier LTIP awards that are vested and expected to vest (adjusted for expected forfeitures) and that are exercisable at September 30, 2020: Equity Awards Vested and Expected to Vest Equity Awards That Are Exercisable (shares and units in thousands; aggregate intrinsic value in dollars in thousands) Awards Average Price 1 Aggregate Intrinsic Value Remaining Life 2 Awards Average Price 1 Aggregate Intrinsic Value Remaining Life 2 Stock Options/ Stock Appreciation Rights 36,868 $ 19.61 $ 403,105 6.7 16,173 $ 16.97 $ 219,447 4.2 Performance Share Units/ Restricted Stock Units 6,291 $ 20.96 $ 192,116 1.8 1 Weighted-average exercise price per share 2 Weighted-average remaining contractual term in years for stock options and stock appreciation rights; weighted-average remaining vesting period in years for performance share units and restricted stock units
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of stock appreciation rights is estimated on the date of grant using a binomial model. The following assumptions were used in the binomial model for the nine months ended September 30, 2020: For the Nine Months Ended September 30, 2020 Volatility 35.6 % Expected life (in years) 7.0 Expected dividend yield 2.0 % Range of risk-free rate 0.1% - 1.0%

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the three and nine months ended September 30, 2020 and 2019 is as follows: (dollars in millions) Foreign Currency Translation Defined Benefit Pension and Post-retirement Plans Accumulated Other Comprehensive Loss Three Months Ended September 30, 2020 Balance as of June 30, 2020 $ (1,018) $ (461) $ (1,479) Other comprehensive income before reclassifications, net 302 — 302 Amounts reclassified, pre-tax — 6 6 Tax expense reclassified — (1) (1) Balance as of September 30, 2020 $ (716) $ (456) $ (1,172) Nine Months Ended September 30, 2020 Balance as of January 1, 2020 $ (780) $ (473) $ (1,253) Other comprehensive income before reclassifications, net 64 2 66 Amounts reclassified, pre-tax — 18 18 Tax benefit reclassified — (3) (3) Balance as of September 30, 2020 $ (716) $ (456) $ (1,172) (dollars in millions) Foreign Currency Translation Defined Benefit Pension and Post-retirement Plans Accumulated Other Comprehensive Loss Three Months Ended September 30, 2019 Balance as of June 30, 2019 $ (821) $ (381) $ (1,202) Other comprehensive loss before reclassifications, net (274) — (274) Amounts reclassified, pre-tax — 2 2 Balance as of September 30, 2019 $ (1,095) $ (379) $ (1,474) Nine Months Ended September 30, 2019 Balance as of January 1, 2019 $ (834) $ (381) $ (1,215) Other comprehensive (loss) income before reclassifications, net (261) 2 (259) Amounts reclassified, pre-tax — 9 9 ASU 2018-02 adoption impact — (9) (9) Balance as of September 30, 2019 $ (1,095) $ (379) $ (1,474)

RESTRUCTURING COSTS (Tables)

RESTRUCTURING COSTS (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	During the three and nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 HVAC $ — $ 12 $ 3 $ 47 Refrigeration (1) 7 2 14 Fire & Security 4 14 13 35 Eliminations and other — 1 1 1 Total restructuring costs $ 3 $ 34 $ 19 $ 97 Restructuring charges incurred during the nine months ended September 30, 2020 and 2019 primarily relate to actions initiated during 2020 and 2019, and were recorded as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Cost of sales $ (1) $ 14 $ 5 $ 27 Selling, general and administrative 4 20 14 70 Total restructuring costs $ 3 $ 34 $ 19 $ 97 The following table summarizes the accrual balance and utilization for the 2020 restructuring actions: (dollars in millions) Severance Facility Exit, Total For the Three Months Ended September 30, 2020 Restructuring accrual as of June 30, 2020 $ 8 $ 1 $ 9 Net pre-tax restructuring costs 5 — 5 Utilization, foreign exchange and other costs (4) — (4) Balance as of September 30, 2020 $ 9 $ 1 $ 10 For the Nine Months Ended September 30, 2020 Restructuring accrual as of January 1, 2020 $ — $ — $ — Net pre-tax restructuring costs 17 1 18 Utilization, foreign exchange and other costs (8) — (8) Balance as of September 30, 2020 $ 9 $ 1 $ 10 The following table summarizes expected, incurred and remaining costs for the 2020 restructuring actions by segment: (dollars in millions) Expected Costs Costs Incurred - Three Months Ended March 31, 2020 Costs Incurred - Three Months Ended June 30, 2020 Costs Incurred - Three Months Ended September 30, 2020 Remaining Costs at September 30, 2020 HVAC $ 5 $ (1) $ (2) $ (1) $ 1 Refrigeration 3 — (3) — — Fire & Security 13 (1) (5) (4) 3 Eliminations and other 1 — (1) — — Total $ 22 $ (2) $ (11) $ (5) $ 4 The following table summarizes expected, incurred and remaining costs for the 2019 restructuring actions by segment: (dollars in millions) Expected Costs Incurred in 2019 Costs Incurred - Three Months Ended March 31, 2020 Costs Incurred - Three Months Ended June 30, 2020 Costs Incurred - Three Months Ended September 30, 2020 Remaining Costs at September 30, 2020 HVAC $ 53 $ (51) $ (1) $ 2 $ (1) $ 2 Refrigeration 16 (14) — (1) 1 2 Fire & Security 49 (43) (2) (1) — 3 Eliminations and other 2 (2) — — — — Total $ 120 $ (110) $ (3) $ — $ — $ 7
Schedule of Restructuring and Related Costs	The following table summarizes the accrual balances and utilization for the 2019 restructuring actions: (dollars in millions) Severance Facility Exit, Total For the Three Months Ended September 30, 2020 Restructuring accrual as of June 30, 2020 $ 27 $ — $ 27 Net pre-tax restructuring costs — — — Utilization, foreign exchange and other costs (5) — (5) Balance as of September 30, 2020 $ 22 $ — $ 22 For the Nine Months Ended September 30, 2020 Restructuring accrual as of January 1, 2020 $ 43 $ 1 $ 44 Net pre-tax restructuring costs 3 — 3 Utilization, foreign exchange and other costs (24) (1) (25) Balance as of September 30, 2020 $ 22 $ — $ 22

GUARANTEES (Tables)

GUARANTEES (Tables)	9 Months Ended
	Sep. 30, 2020
Guarantees [Abstract]
Schedule of Product Warranty Liability	The changes in the carrying amount of service and product warranties and product performance guarantees, included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet, for the nine months ended September 30, 2020 and 2019 are as follows: For the Nine Months Ended September 30, (dollars in millions) 2020 2019 Balance as of January 1 $ 488 $ 473 Warranties, performance guarantees issued and changes in estimated liability 131 133 Settlements made (111) (126) Other 1 (2) Balance as of September 30 $ 509 $ 478

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	In accordance with the provisions of ASC Topic 820 – Fair Value Measurement, the following tables provide the valuation hierarchy classification of assets and liabilities that are recorded at fair value and measured on a recurring basis in our Unaudited Condensed Consolidated Balance Sheet: September 30, 2020 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurement: Money market mutual funds $ 38 1 $ — $ 38 $ — Derivative assets $ 15 2 $ — $ 15 $ — Derivative liabilities $ (33) 3 $ — $ (33) $ — 1 Included in Cash and cash equivalents on the accompanying Unaudited Condensed Consolidated Balance Sheet 2 Included in Other assets, current on the accompanying Unaudited Condensed Consolidated Balance Sheet 3 Included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet The following table provides the carrying amounts and fair values of financial instruments that are not recorded at fair value in our Unaudited Condensed Consolidated Balance Sheet: September 30, 2020 December 31, 2019 (dollars in millions) Carrying Fair Carrying Fair Current and long-term debt (excluding finance leases) $ 11,969 $ 12,531 $ 313 $ 313 The following tables provide the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Unaudited Condensed Consolidated Balance Sheet: September 30, 2020 (dollars in millions) Total Level 1 Level 2 Level 3 Current and long-term debt (excluding finance leases) $ 12,531 $ 10,478 $ — $ 2,053 December 31, 2019 (dollars in millions) Total Level 1 Level 2 Level 3 Current and long-term debt (excluding finance leases) $ 313 $ — $ — $ 313
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents changes during the nine months ended September 30, 2020 and 2019 in Level 3 liabilities not measured at fair value on a recurring basis: For the Nine Months Ended September 30, (dollars in millions) 2020 2019 Fair value as of January 1 $ 313 $ 291 Issuances, including interest on project financing obligations 1,865 118 Settlements (125) (98) Fair value as of September 30 $ 2,053 $ 311

SEGMENT FINANCIAL DATA (Tables)

SEGMENT FINANCIAL DATA (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Segment information for the periods presented are as follows: Net Sales Operating Profit For the Three Months Ended September 30, For the Three Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 HVAC $ 2,892 $ 2,602 $ 839 $ 404 Refrigeration 876 922 103 125 Fire & Security 1,324 1,402 200 205 Total segment 5,092 4,926 1,142 734 Eliminations and other (90) (104) (31) (63) General corporate expenses — — (30) (42) Consolidated $ 5,002 $ 4,822 $ 1,081 $ 629 Net Sales Operating Profit For the Nine Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 HVAC $ 7,142 $ 7,505 $ 1,364 $ 1,242 Refrigeration 2,384 2,839 263 373 Fire & Security 3,587 4,078 426 521 Total segment 13,113 14,422 2,053 2,136 Eliminations and other (251) (315) (122) (95) General corporate expenses — — (93) (107) Consolidated $ 12,862 $ 14,107 $ 1,838 $ 1,934
Revenue from External Customers by Geographic Areas	For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 United States Operations $ 2,780 $ 2,541 $ 6,983 $ 7,473 International Operations Europe 1,307 1,313 3,455 3,906 Asia Pacific 715 729 1,879 2,079 Other 200 239 545 649 Consolidated $ 5,002 $ 4,822 $ 12,862 $ 14,107
Revenue from External Customers by Products and Services	Segment sales disaggregated by product and service are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, (dollars in millions) 2020 2019 2020 2019 Sales Type Product $ 2,547 $ 2,224 $ 6,180 $ 6,455 Service 345 378 962 1,050 HVAC sales 2,892 2,602 7,142 7,505 Product 771 823 2,093 2,551 Service 105 99 291 288 Refrigeration sales 876 922 2,384 2,839 Product 965 1,055 2,587 3,011 Service 359 347 1,000 1,067 Fire & Security sales 1,324 1,402 3,587 4,078 Total segment sales 5,092 4,926 13,113 14,422 Eliminations and other (90) (104) (251) (315) Consolidated $ 5,002 $ 4,822 $ 12,862 $ 14,107

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details)	Apr. 02, 2020USD ($)	Mar. 27, 2020USD ($)	Sep. 30, 2020USD ($)segmentshares	Sep. 30, 2019USD ($)	Apr. 03, 2020shares	Feb. 27, 2020USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of reportable segments | segment			3
Common stock, shares, issued (in shares) | shares			866,687,269		866,158,910
Aggregate principal balance						$ 11,000,000,000
Net transfers to parent		$ 10,900,000,000	$ 10,359,000,000	$ 1,111,000,000
UTC Net Investment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net cash contribution from parent	$ 590,000,000

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - $ / shares	3 Months Ended	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Apr. 03, 2020
Earnings Per Share [Abstract]
Common stock, shares, issued (in shares)	866,687,269	866,687,269	866,158,910
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	3,200,000	3,200,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income attributable to common shareowners	$ 741	$ 492	$ 1,098	$ 1,676
Basic weighted-average number of shares outstanding	866.4	866.2	866.3	866.2
Stock awards and equity units (share equivalent)	15.1	0	9.9	0
Diluted weighted-average number of shares outstanding	881.5	866.2	876.2	866.2
Earnings Per Share
Basic (in dollars per share)	$ 0.86	$ 0.57	$ 1.27	$ 1.94
Diluted (in dollars per share)	$ 0.84	$ 0.57	$ 1.25	$ 1.94

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets, current	$ 753	$ 622
Contract assets, non-current (included within Other assets)	75	57
Total contract assets	828	679
Contract liabilities, current	(495)	(443)
Contract liabilities, non-current (included within Other long-term liabilities)	(166)	(168)
Total contract liabilities	(661)	(611)
Net contract assets	$ 167	$ 68

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Contract with customer, asset, change			$ 149
Contract with customer, liability, change			(50)
Contract with customer, liability, revenue recognized	$ 55	$ 53	$ 288	$ 301

REVENUE RECOGNITION - Remaining

REVENUE RECOGNITION - Remaining Performance Obligations (Details) - USD ($) $ in Billions	Sep. 30, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5.6	$ 4.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	73.00%
Revenue, remaining performance obligation, period	12 months

RELATED PARTIES - Narrative (De

RELATED PARTIES - Narrative (Details) $ / shares in Units, shares in Thousands	Apr. 02, 2020USD ($)	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2019USD ($)	Sep. 30, 2020kr / shares	Dec. 31, 2019USD ($)
Related Party Transaction [Line Items]
Impairment charge on minority-owned joint venture investments									$ 72,000,000	$ 108,000,000
Separation costs			$ 13,000,000						13,000,000
Net transfers (to) from UTC				$ 859,000,000	$ (11,014,000,000)	$ (544,000,000)	$ (445,000,000)	$ (81,000,000)
UTC Net Investment
Related Party Transaction [Line Items]
Net transfers (to) from UTC				$ 859,000,000	(11,014,000,000)	(544,000,000)	$ (445,000,000)	$ (81,000,000)	780,000,000
Net cash contribution from parent	$ 590,000,000
Spinoff
Related Party Transaction [Line Items]
Separation costs			24,000,000						92,000,000
Equity Method Investee
Related Party Transaction [Line Items]
Revenue from related parties			576,000,000			498,000,000			1,400,000,000	1,400,000,000
Related parties amount in cost of sales			70,000,000			96,000,000			213,000,000	274,000,000
Accounts receivable, related parties		$ 213,000,000	213,000,000						213,000,000			$ 137,000,000
Accounts payable, related parties		40,000,000	$ 40,000,000						$ 40,000,000			55,000,000
Impairment charge on minority-owned joint venture investments					$ 71,000,000
Equity Method Investee | Beijer Ref
Related Party Transaction [Line Items]
Sale of stock, consideration received on transaction		$ 300,000,000
Subsidiary or equity method investee, cumulative percentage ownership after all transactions		26.00%
Gain (Loss) on Sale of Investments		$ 252,000,000
Equity Method Investee | B Shares | Beijer Ref
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares) | shares		9,250
Sale of stock, price per share (in kronor per share) | (per share)		$ 32.38	$ 32.38						$ 32.38		kr 290
Subsidiary or equity method investee, percentage of outstanding stock		7.90%
Subsidiary or equity method investee, cumulative percentage ownership after all transactions		30.00%
Equity Method Investee | A Shares | Beijer Ref
Related Party Transaction [Line Items]
Subsidiary or equity method investee, cumulative percentage ownership after all transactions		22.00%
UTC
Related Party Transaction [Line Items]
Revenue from related parties			$ 0			6,000,000			$ 3,000,000	18,000,000
Accounts receivable, related parties												16,000,000,000
Accounts payable, related parties												3,300,000,000
Related party transaction, selling, general and administrative expenses from transactions with related party			0			62,000,000			43,000,000	178,000,000
Interest income, related party			0			21,000,000			0	70,000,000
Interest expense, related party			0			$ 12,000,000			0	$ 44,000,000
Accounts receivable, related parties, current		$ 0	0						0			6,000,000
Accounts payable, related parties, current		$ 0	$ 0						$ 0			$ 4,000,000

ACCOUNTS RECEIVABLE, NET (Detai

ACCOUNTS RECEIVABLE, NET (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 2,960	$ 2,771
Less: Allowance for expected credit losses	(88)	(45)
Accounts receivable, net	2,872	2,726
Trade receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	2,578	2,444
Receivables from affiliates
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	213	143
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 169	$ 184

ACCOUNTS RECEIVABLE, NET - Acco

ACCOUNTS RECEIVABLE, NET - Accounts Receivable Rollforward (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 45
Provision for expected credit losses	38
Write-offs charged against the allowance for expected credit losses	(2)
Accounts Receivable, Allowance For Credit Loss, Other	7
Ending balance	$ 88

INVENTORIES, NET (Details)

INVENTORIES, NET (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 248	$ 290
Work-in-process	148	120
Finished goods	1,185	922
Inventories, net	1,581	1,332
Inventory valuation reserves	$ 180	$ 152

FIXED ASSETS, NET (Details)

FIXED ASSETS, NET (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 3,879		$ 3,879		$ 3,758
Accumulated depreciation	(2,203)		(2,203)		(2,095)
Fixed assets, net	1,676		1,676		1,663
Depreciation	56	$ 54	165	$ 163
Land
Property, Plant and Equipment [Line Items]
Fixed assets, gross	112		$ 112		113
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			40 years
Fixed assets, gross	1,129		$ 1,129		1,138
Machinery, tools and equipment
Property, Plant and Equipment [Line Items]
Fixed assets, gross	2,047		2,047		1,924
Rental assets
Property, Plant and Equipment [Line Items]
Fixed assets, gross	404		404		395
Other, including assets under construction
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 187		$ 187		$ 188
Minimum | Machinery, tools and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			3 years
Minimum | Rental assets
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			3 years
Maximum | Machinery, tools and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			25 years
Maximum | Rental assets
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			12 years

BUSINESS ACQUISITIONS, DISPOS_3

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Goodwill - Beginning Balance	$ 9,884
Foreign currency translation	22
Goodwill - Ending Balance	9,906
HVAC
Goodwill [Roll Forward]
Goodwill - Beginning Balance	5,351
Foreign currency translation	2
Goodwill - Ending Balance	5,353
Refrigeration
Goodwill [Roll Forward]
Goodwill - Beginning Balance	1,228
Foreign currency translation	5
Goodwill - Ending Balance	1,233
Fire & Security
Goodwill [Roll Forward]
Goodwill - Beginning Balance	3,305
Foreign currency translation	15
Goodwill - Ending Balance	$ 3,320

BUSINESS ACQUISITIONS, DISPOS_4

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Finite and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,502	$ 2,462
Accumulated Amortization	(2,019)	(1,913)
Indefinite-lived Intangible Assets [Line Items]
Total intangible assets, gross (excluding goodwill)	3,043	2,996
Trademarks and other
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	541	534
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1,506	1,479
Accumulated Amortization	(1,223)	(1,154)
Patents and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Amount	293	287
Accumulated Amortization	(213)	(201)
Monitoring lines
Finite-Lived Intangible Assets [Line Items]
Gross Amount	67	67
Accumulated Amortization	(55)	(52)
Service portfolios and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	636	629
Accumulated Amortization	$ (528)	$ (506)

BUSINESS ACQUISITIONS, DISPOS_5

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Future Amortization of Intangible Assets (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Goodwill [Line Items]
Amortization of intangible assets	$ 26	$ 30	$ 76	$ 88
Goodwill	9,906		$ 9,906		$ 9,884
Reporting Unit with Carrying Value within 20% of Fair Value
Goodwill [Line Items]
Number of reporting units | segment			1
Goodwill	$ 917		$ 917
Reporting unit, percentage of fair value in excess of carrying amount	13.00%		13.00%
Sensitivity analysis of fair value, reporting unit, impact of 100 basis point change in discount rate	$ 84		$ 84

BORROWINGS AND LINES OF CREDI_2

BORROWINGS AND LINES OF CREDIT - Narrative (Details)	Mar. 27, 2020USD ($)	Feb. 10, 2020USD ($)	Mar. 27, 2020USD ($)	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 19, 2020USD ($)	Jun. 02, 2020USD ($)	Feb. 27, 2020USD ($)debt_series
Debt Instrument [Line Items]
Aggregate principal balance										$ 11,000,000,000
Issuance of long-term debt						$ 11,762,000,000	$ 106,000,000
Net transfers to parent			$ 10,900,000,000			10,359,000,000	1,111,000,000
Debt instrument, covenant, modification period threshold for provision of terms									$ 100,000,000
Repayment of long-term debt						$ 124,000,000	98,000,000
Weighted average interest rate				2.70%		2.70%
Interest expense, debt				$ 90,000,000		$ 213,000,000
Amortization of debt issuance costs				$ 2,000,000		5,000,000
Interest expense, debt, financing fees expensed					$ 5,000,000
Interest expense, debt, excluding amortization						$ 127,000,000
Weighted Average
Debt Instrument [Line Items]
Average maturity of long-term debt				12 years		12 years
Term Loan
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 1,750,000,000
Issuance of long-term debt	$ 1,750,000,000
Interest rate, stated percentage				1.275%		1.275%
Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal balance										$ 9,250,000,000
Series of notes issuance | debt_series										6
Unsecured Debt | 2.700% Notes due February 15, 2031
Debt Instrument [Line Items]
Aggregate principal balance								$ 750,000,000
Interest rate, stated percentage				2.70%		2.70%
Other Debt | Project Financing Arrangements
Debt Instrument [Line Items]
Aggregate principal balance				$ 102,000,000		$ 102,000,000	$ 106,000,000
Commercial Paper
Debt Instrument [Line Items]
Aggregate principal balance				2,000,000,000		2,000,000,000
Short-term debt				0		$ 0
London Interbank Offered Rate (LIBOR) | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate						1.125%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 2,000,000,000		$ 0		$ 0
Commitment fee percentage		0.125%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate						1.25%

BORROWINGS AND LINES OF CREDI_3

BORROWINGS AND LINES OF CREDIT - Long-term Debt (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 12,059	$ 319
Other (discounts and debt issuance costs)	(85)	0
Total debt	11,974	319
Current portion of long-term debt	223	237
Long-term debt	$ 11,751	82
Term Loan
Debt Instrument [Line Items]
Interest Rate	1.275%
Long-term debt, gross	$ 1,750	0
Other Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 309	319
London Interbank Offered Rate (LIBOR) | Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
1.923% Notes due February 15, 2023 | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	1.923%
Long-term debt, gross	$ 500	0
2.242% Notes due February 15, 2025 | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.242%
Long-term debt, gross	$ 2,000	0
2.493% Notes due February 15, 2027 | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.493%
Long-term debt, gross	$ 1,250	0
2.722% Notes due February 15, 2030 | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.722%
Long-term debt, gross	$ 2,000	0
2.700% Notes due February 15, 2031 | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.70%
Long-term debt, gross	$ 750	0
3.377% Notes due April 5, 2040 | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	3.377%
Long-term debt, gross	$ 1,500	0
3.577% Notes due April 5, 2050 | Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	3.577%
Long-term debt, gross	$ 2,000	$ 0

BORROWINGS AND LINES OF CREDI_4

BORROWINGS AND LINES OF CREDIT - Long-term Debt Maturity (Details) $ in Millions	Sep. 30, 2020USD ($)
Debt Disclosure [Abstract]
2020	$ 223
2021	45
2022	40
2023	2,251
2024	0
Thereafter	$ 9,500

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retirement Benefits [Abstract]
Defined benefit plans	$ 1	$ 2	$ 29	$ 29
Defined contribution plans	23	22	78	71
Multi-employer pension plans	$ 5	$ 5	$ 15	$ 15

EMPLOYEE BENEFIT PLANS - Pensio

EMPLOYEE BENEFIT PLANS - Pension Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 7	$ 7	$ 22	$ 23
Interest cost	13	17	39	50
Expected return on plan assets	(35)	(37)	(104)	(115)
Amortization of prior service credit	1	0	2	1
Recognized actuarial net loss	5	2	15	7
Net settlement, curtailment and special termination benefit loss	0	0	1	1
Total net periodic benefit (income) cost	$ (9)	$ (11)	$ (25)	$ (33)

EMPLOYEE BENEFIT PLANS - Pens_2

EMPLOYEE BENEFIT PLANS - Pension and Retirements Expenses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Multiemployer Plans [Line Items]
Service cost	$ 7	$ 7	$ 22	$ 23
Non-service pension benefit	(16)	(47)	(47)	(124)
Total net periodic benefit (income) cost	(9)	(11)	(25)	(33)
UTC Sponsored Defined Benefit Plans
Multiemployer Plans [Line Items]
Service cost	0	4	0	13
Non-service pension benefit	0	(20)	(2)	(59)
Total net periodic benefit (income) cost	$ 0	$ (16)	$ (2)	$ (46)

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)			10 years
Award vesting period (in years)			3 years
Share-based payment arrangement, expense	$ 21	$ 18	$ 56	$ 40
Share-based payment arrangement, cash used to settle award	5	$ 2	2	$ 2
Unrecognized compensation costs	$ 107		107
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred share-based compensation expense			$ 14
Cost not yet recognized, period for recognition			1 year 6 months
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost not yet recognized, period for recognition			2 years 2 months 12 days
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in dollars per shares)			$ 4.36
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in years)			3 years

STOCK-BASED COMPENSATION - LTIP

STOCK-BASED COMPENSATION - LTIP Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Shares
Exercised (in shares) | shares	(984)
Weighted Average Exercise Price
Exercised (in dollars per share) | $ / shares	$ 15.52
Stock Options and Stock Appreciation Rights
Shares
Beginning balance (in shares) | shares	36,015
Granted (in shares) | shares	3,753
Forfeitures/Cancelled (in shares) | shares	(509)
Ending balance (in shares) | shares	38,275
Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 19.90
Granted (in dollars per share) | $ / shares	16.62
Forfeited/Cancelled (in dollars per share) | $ / shares	22.73
Ending balance (in dollars per share) | $ / shares	$ 19.66
Performance Share Units
Units
Beginning balance (in shares) | shares	68
Granted (in shares) | shares	728
Exercised (in shares) | shares	0
Forfeited (in shares) | shares	(22)
Ending balance (in shares) | shares	774
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 21.23
Granted (in dollars per share) | $ / shares	18.23
Exercised (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	19.25
Ending balance (in dollars per share) | $ / shares	$ 18.48
Restricted Share Units
Units
Beginning balance (in shares) | shares	5,622
Granted (in shares) | shares	443
Exercised (in shares) | shares	(116)
Forfeited (in shares) | shares	(108)
Ending balance (in shares) | shares	5,841
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 21.37
Granted (in dollars per share) | $ / shares	18.98
Exercised (in dollars per share) | $ / shares	20.42
Forfeited (in dollars per share) | $ / shares	22.25
Ending balance (in dollars per share) | $ / shares	$ 21.27

STOCK-BASED COMPENSATION - LT_2

STOCK-BASED COMPENSATION - LTIP Awards Vested and Expected to Vest and Exercisable (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Stock Options and Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vest and expected to vest (in shares) | shares	36,868
Options vested and expected to vest (in dollars per share) | $ / shares	$ 19.61
Options vested and expected to vest, aggregate intrinsic value | $	$ 403,105
Options vested and expected to vest, weighted average remaining contractual term	6 years 8 months 12 days
Options exercisable (in shares) | shares	16,173
Options exercisable (in dollars per share) | $ / shares	$ 16.97
Options exercisable, aggregate intrinsic value | $	$ 219,447
Options exercisable, weighted average remaining contractual term	4 years 2 months 12 days
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares vested and expected to vest (in shares) | shares	6,291
Performance shares vested and expected to vest (in dollars per share) | $ / shares	$ 20.96
Performance shares vested and expected to vest, aggregate intrinsic value | $	$ 192,116
Performance shares vested and expected to vest, weighted average remaining contractual term	1 year 9 months 18 days

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value Assumptions (Details) - Stock Appreciation Rights (SARs)	9 Months Ended
	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	35.60%
Expected life (in years)	700.00%
Expected dividend yield	2.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of risk-free rate	0.10%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of risk-free rate	1.00%

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary of Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period	$ 4,366	$ 14,960	$ 14,435	$ 14,269
Balance as of end of period	5,437	14,644	5,437	14,644
Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period			(4)	0
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period	(1,018)	(821)	(780)	(834)
Other comprehensive income (loss) before reclassifications, net	302	(274)	64	(261)
Amounts reclassified, pre-tax	0	0	0	0
Tax expense (benefit) reclassified	0		0
Balance as of end of period	(716)	(1,095)	(716)	(1,095)
Foreign Currency Translation | Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period				0
Defined Benefit Pension and Post-retirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period	(461)	(381)	(473)	(381)
Other comprehensive income (loss) before reclassifications, net	0	0	2	2
Amounts reclassified, pre-tax	6	2	18	9
Tax expense (benefit) reclassified	(1)		(3)
Balance as of end of period	(456)	(379)	(456)	(379)
Defined Benefit Pension and Post-retirement Plans | Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period				(9)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period	(1,479)	(1,202)	(1,253)	(1,215)
Other comprehensive income (loss) before reclassifications, net	302	(274)	66	(259)
Amounts reclassified, pre-tax	6	2	18	9
Tax expense (benefit) reclassified	(1)		(3)
Balance as of end of period	$ (1,172)	$ (1,474)	$ (1,172)	(1,474)
Accumulated Other Comprehensive Loss | Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period				$ (9)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019	Sep. 30, 2020USD ($)	Sep. 30, 2019	Apr. 03, 2020USD ($)installment
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective income tax rate reconciliation, percent	25.90%	25.80%	33.40%	18.30%
Effective income tax rate reconciliation, tax settlement, amount			$ 149
Effective income tax rate reconciliation, change in deferred tax assets valuation allowance			51
Effective income tax rate reconciliation, repatriation of foreign earnings, amount			46
Increase (decrease) in unrecognized tax benefits	$ (37)
Deferred tax assets, unrealized currency losses	27		27
United Technologies Corp
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Tax cuts and jobs act, transition tax for accumulated foreign earnings, liability, noncurrent					$ 701
Unrecognized tax benefits, number of annual installments | installment					6
Accrued Liabilities | United Technologies Corp
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Tax cuts and jobs act, transition tax for accumulated foreign earnings, liability, current					$ 68
Accrued income taxes, current					6
Other Noncurrent Liabilities | United Technologies Corp
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Accrued income taxes, noncurrent					$ 453
Maximum
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 15		$ 15

RESTRUCTURING COSTS - Schedules

RESTRUCTURING COSTS - Schedules (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	$ 3			$ 34	$ 19	$ 97
Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	(1)			14	5	27
Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	4			20	14	70
2020 Actions
Restructuring Reserve [Roll Forward]
Beginning balance	9		$ 0		0
Net pre-tax restructuring costs	5				18
Utilization, foreign exchange and other costs	(4)				(8)
Ending balance	10	$ 9			10		$ 0
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	22				22
Costs Incurred	(5)	(11)	(2)
Remaining Costs	4				4
2020 Actions | Severance
Restructuring Reserve [Roll Forward]
Beginning balance	8		0		0
Net pre-tax restructuring costs	5				17
Utilization, foreign exchange and other costs	(4)				(8)
Ending balance	9	8			9		0
2020 Actions | Facility Exit, Lease Termination and Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance	1		0		0
Net pre-tax restructuring costs	0				1
Utilization, foreign exchange and other costs	0				0
Ending balance	1	1			1		0
2020 Actions | Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					7
2020 Actions | Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					11
2019 Actions
Restructuring Reserve [Roll Forward]
Beginning balance	27		44		44
Net pre-tax restructuring costs	0				3	82
Utilization, foreign exchange and other costs	(5)				(25)
Ending balance	22	27			22		44
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				120		120
Costs Incurred	0	0	(3)				(110)
Remaining Costs	7				7
2019 Actions | Severance
Restructuring Reserve [Roll Forward]
Beginning balance	27		43		43
Net pre-tax restructuring costs	0				3
Utilization, foreign exchange and other costs	(5)				(24)
Ending balance	22	27			22		43
2019 Actions | Facility Exit, Lease Termination and Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance	0		1		1
Net pre-tax restructuring costs	0				0
Utilization, foreign exchange and other costs	0				(1)
Ending balance	0	0			0		1
2019 Actions | Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					0	20
2019 Actions | Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					3	62
Operating Segments | HVAC
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	0			12	3	47
Operating Segments | Refrigeration
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	(1)			7	2	14
Operating Segments | Fire & Security
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	4			14	13	35
Operating Segments | 2020 Actions | HVAC
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	5				5
Costs Incurred	(1)	(2)	(1)
Remaining Costs	1				1
Operating Segments | 2020 Actions | Refrigeration
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	3				3
Costs Incurred	0	(3)	0
Remaining Costs	0				0
Operating Segments | 2020 Actions | Fire & Security
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	13				13
Costs Incurred	(4)	(5)	(1)
Remaining Costs	3				3
Operating Segments | 2019 Actions | HVAC
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				53		53
Costs Incurred	(1)	2	(1)				(51)
Remaining Costs	2				2
Operating Segments | 2019 Actions | Refrigeration
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				16		16
Costs Incurred	1	(1)	0				(14)
Remaining Costs	2				2
Operating Segments | 2019 Actions | Fire & Security
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				49		49
Costs Incurred	0	(1)	(2)				(43)
Remaining Costs	3				3
Eliminations and other
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	0			1	1	1
Eliminations and other | 2020 Actions
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	1				1
Costs Incurred	0	(1)	0
Remaining Costs	0				0
Eliminations and other | 2019 Actions
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				$ 2		$ 2
Costs Incurred	0	$ 0	$ 0				$ (2)
Remaining Costs	$ 0				$ 0

RESTRUCTURING COSTS - Narrative

RESTRUCTURING COSTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	$ 3	$ 34	$ 19	$ 97
2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	5		18
Restructuring reserve	10		10		$ 9	$ 0
2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	0		3	82
Restructuring reserve	22		22		$ 27	$ 44
2018 and Prior Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			(2)	16
Restructuring reserve	7	28	7	28
Cost of sales
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	(1)	14	5	27
Cost of sales | 2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			7
Cost of sales | 2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			0	20
Cost of sales | 2018 and Prior Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			(1)	7
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	$ 4	$ 20	14	70
Selling, general and administrative | 2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			11
Selling, general and administrative | 2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			3	62
Selling, general and administrative | 2018 and Prior Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			$ (1)	$ 9

GUARANTEES (Details)

GUARANTEES (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning balance	$ 488	$ 473
Warranties, performance guarantees issued and changes in estimated liability	131	133
Settlements made	(111)	(126)
Other	1	(2)
Ending balance	$ 509	$ 478

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value and Carrying Amounts Measured on a Recurring Basis (Details) - Fair Value, Recurring $ in Millions	Sep. 30, 2020USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	$ 15
Derivative liabilities	(33)
Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market mutual funds	38
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0
Derivative liabilities	0
Level 1 | Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market mutual funds	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	15
Derivative liabilities	(33)
Level 2 | Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market mutual funds	38
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0
Derivative liabilities	0
Level 3 | Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market mutual funds	$ 0

FAIR VALUES MEASUREMENTS - Carr

FAIR VALUES MEASUREMENTS - Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), carrying amount	$ 11,969	$ 313
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	12,531	313
Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	10,478	0
Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	0	0
Fair Value | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	$ 2,053	$ 313

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in Level 3 Liabilities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value as of January 1	$ 313	$ 291
Issuances, including interest on project financing obligations	1,865	118
Settlements	(125)	(98)
Fair value as of September 30	$ 2,053	$ 311

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Accrual for environmental loss contingencies	$ 233	$ 217
Accrued environmental loss contingencies, current	13	14
Accrued environmental loss contingencies, noncurrent	220	203
Loss contingency, receivable	104	104
Other Noncurrent Liabilities
Other Commitments [Line Items]
Tax cuts and jobs act, transition tax for accumulated foreign earnings, liability	72
Minimum | Asbestos Matters
Other Commitments [Line Items]
Loss contingency accrual	250	$ 255
Maximum | Asbestos Matters
Other Commitments [Line Items]
Loss contingency accrual	$ 290

SEGMENT FINANCIAL DATA (Details

SEGMENT FINANCIAL DATA (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
Net Sales	$ 5,002	$ 4,822	$ 12,862	$ 14,107
Operating profit	1,081	629	1,838	1,934
Product
Segment Reporting Information [Line Items]
Net Sales	4,193	3,998	10,615	11,703
Service
Segment Reporting Information [Line Items]
Net Sales	809	824	2,247	2,404
United States Operations
Segment Reporting Information [Line Items]
Net Sales	2,780	2,541	6,983	7,473
Europe
Segment Reporting Information [Line Items]
Net Sales	1,307	1,313	3,455	3,906
Asia Pacific
Segment Reporting Information [Line Items]
Net Sales	715	729	1,879	2,079
Other
Segment Reporting Information [Line Items]
Net Sales	200	239	545	649
Operating Segments
Segment Reporting Information [Line Items]
Net Sales	5,092	4,926	13,113	14,422
Operating profit	1,142	734	2,053	2,136
Operating Segments | HVAC
Segment Reporting Information [Line Items]
Net Sales	2,892	2,602	7,142	7,505
Operating profit	839	404	1,364	1,242
Operating Segments | HVAC | Product
Segment Reporting Information [Line Items]
Net Sales	2,547	2,224	6,180	6,455
Operating Segments | HVAC | Service
Segment Reporting Information [Line Items]
Net Sales	345	378	962	1,050
Operating Segments | Refrigeration
Segment Reporting Information [Line Items]
Net Sales	876	922	2,384	2,839
Operating profit	103	125	263	373
Operating Segments | Refrigeration | Product
Segment Reporting Information [Line Items]
Net Sales	771	823	2,093	2,551
Operating Segments | Refrigeration | Service
Segment Reporting Information [Line Items]
Net Sales	105	99	291	288
Operating Segments | Fire & Security
Segment Reporting Information [Line Items]
Net Sales	1,324	1,402	3,587	4,078
Operating profit	200	205	426	521
Operating Segments | Fire & Security | Product
Segment Reporting Information [Line Items]
Net Sales	965	1,055	2,587	3,011
Operating Segments | Fire & Security | Service
Segment Reporting Information [Line Items]
Net Sales	359	347	1,000	1,067
Eliminations and other
Segment Reporting Information [Line Items]
Net Sales	(90)	(104)	(251)	(315)
Operating profit	(31)	(63)	(122)	(95)
General corporate expenses
Segment Reporting Information [Line Items]
Net Sales	0	0	0	0
Operating profit	$ (30)	$ (42)	$ (93)	$ (107)

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details)	Oct. 15, 2020$ / shares
Subsequent Event
Subsequent Event [Line Items]
Dividends payable, amount per common share (in dollars per share)	$ 0.08