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Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2020	Apr. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 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	No
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		866,158,910
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001783180
Current Fiscal Year End Date	--12-31

CONDENSED COMBINED STATEMENT OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Net sales
Net Sales	$ 3,888	$ 4,323
Costs and expenses
Research and development	98	97
Selling, general and administrative	692	684
Total costs and expenses	3,556	3,878
Equity method investment net earnings	29	40
Other (expense) income, net	(46)	15
Operating profit	315	500
Non-service pension benefit	17	39
Interest (expense) income, net	(37)	4
Income from operations before income taxes	295	543
Income tax expense	193	140
Net income from operations	102	403
Less: Non-controlling interest subsidiaries' earnings	6	3
Net income attributable to common shareowners	$ 96	$ 400
Earnings per share
Basic (in dollars per share)	$ 0.11	$ 0.46
Diluted (in dollars per share)	$ 0.11	$ 0.46
Weighted average number of shares outstanding
Basic (in shares)	866	866
Diluted (in shares)	866	866
Product
Net sales
Net Sales	$ 3,147	$ 3,566
Costs and expenses
Cost of products and services sold	2,237	2,565
Service
Net sales
Net Sales	741	757
Costs and expenses
Cost of products and services sold	$ 529	$ 532

CONDENSED COMBINED STATEMENT OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 102	$ 403
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments arising during period	(490)	96
Pension and post-retirement benefit plan adjustments	5	5
Other comprehensive (loss) income, net of tax	(485)	101
Comprehensive (loss) income	(383)	504
Less: Comprehensive income attributable to non-controlling interest	(4)	(8)
Comprehensive (loss) income attributable to common shareowners	$ (387)	$ 496

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONDENSED COMBINED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 768	$ 952
Accounts receivable, net (Note 5 and Note 6)	2,674	2,726
Contract assets, current	651	622
Inventories, net	1,556	1,332
Other assets, current	319	327
Total current assets	5,968	5,959
Future income tax benefits	454	500
Fixed assets, net	1,638	1,663
Operating lease right-of-use assets	865	832
Intangible assets, net	1,014	1,083
Goodwill	9,648	9,884
Pension and post-retirement assets	473	490
Equity method investments	1,664	1,739
Other assets	277	256
Total Assets	22,001	22,406
Current liabilities:
Accounts payable (Note 5)	1,776	1,701
Accrued liabilities	1,972	2,088
Contract liabilities, current	485	443
Current portion of long-term debt	218	237
Total current liabilities	4,451	4,469
Long-term debt	11,029	82
Future pension and post-retirement obligations	456	456
Future income tax obligations	1,161	1,099
Operating lease liabilities	708	682
Other long-term liabilities	1,170	1,183
Total Liabilities	18,975	7,971
Commitments and contingent liabilities (Note 17)
UTC Net investment
UTC Net investment	4,433	15,355
Accumulated other comprehensive loss	(1,736)	(1,253)
Total UTC Net investment	2,697	14,102
Non-controlling interest	329	333
Total Equity	3,026	14,435
Total Liabilities and Equity	$ 22,001	$ 22,406

CONDENSED COMBINED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Activities
Net income from operations	$ 102	$ 403
Adjustments to reconcile net income from operations to net cash flows provided by (used in) operating activities, net of acquisitions and dispositions
Depreciation and amortization	81	85
Deferred income tax provision	135	15
Stock compensation costs	13	8
Equity method investment net earnings	(29)	(40)
Distributions from equity method investments	10	5
Impairment charge on minority owned joint venture investment	71	0
Changes in operating assets and liabilities
Accounts receivable, net	(19)	(148)
Contract assets, current	(39)	(51)
Inventories, net	(264)	(230)
Other assets, current	(10)	8
Accounts payable and accrued liabilities	(24)	(227)
Contract liabilities, current	51	27
Pension contributions	(25)	(22)
Other operating activities, net	(6)	(16)
Net cash flows provided by (used in) operating activities	47	(183)
Investing Activities
Capital expenditures	(48)	(41)
Dispositions of businesses (Note 9)	0	1
Other investing activities, net	(80)	(3)
Net cash flows used in investing activities	(128)	(43)
Financing Activities
(Decrease) increase in short-term borrowings, net	(44)	6
Issuance of long-term debt	10,961	52
Repayment of long-term debt	(34)	(1)
Dividends paid to non-controlling interest	(8)	(2)
Net transfers to UTC	(10,948)	(89)
Other financing activities, net	(3)	(23)
Net cash flows used in financing activities	(76)	(57)
Effect of Exchange Rate on Cash and Cash Equivalents [Abstract]
Effect of foreign exchange rate changes on cash and cash equivalents	(28)	16
Net decrease in cash and cash equivalents and restricted cash	(185)	(267)
Cash, cash equivalents and restricted cash, beginning of period	957	1,134
Cash, cash equivalents and restricted cash, end of period	772	867
Less: restricted cash	4	4
Cash and cash equivalents, end of period	$ 768	$ 863

CONDENSED COMBINED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	UTC Net Investment	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Balance as of beginning of period at Dec. 31, 2018	$ 14,269	$ 15,132	$ (1,215)	$ 352
Net income	403	400		3
Net transfers to UTC		(81)
Other comprehensive (loss) income, net of tax	504		96	5
Dividends attributable to noncontrolling interest				(2)
Balance as of end of period at Mar. 31, 2019	14,690	15,460	(1,128)	358
Balance as of beginning of period at Dec. 31, 2019	14,435	15,355	(1,253)	333
Net income	102	96		6
Net transfers to UTC		(11,014)
Other comprehensive (loss) income, net of tax	(383)		(483)	(2)
Dividends attributable to noncontrolling interest				(8)
Balance as of end of period at Mar. 31, 2020	$ 3,026	$ 4,433	$ (1,736)	$ 329

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

DESCRIPTION OF BUSINESS	3 Months Ended
DESCRIPTION OF BUSINESS	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	The Condensed Combined Financial Statements as of March 31, 2020 and for the quarters ended March 31, 2020 and 2019 are unaudited, and include all adjustments which consist of normal recurring adjustments considered necessary by management to fairly state our results of operations, financial position and cash flows. The results reported in the Unaudited Condensed Combined 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 on first quarter results and forward looking impacts 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, and resulted in significant travel restrictions, including mandated facility closures and shelter-in-place orders. Carrier is taking all prudent measures to protect the health and safety of our employees and has implemented work from home requirements, where possible, social distancing where working from home is not feasible including in our manufacturing facilities, deep cleaning protocols at all of our facilities and travel restrictions, among other measures. We have also taken appropriate measures to work with our customers to minimize potential disruption and to support the communities that we serve to address the challenges posed by the pandemic. The full extent of the impact of the COVID-19 pandemic on the Company's operational and financial performance will depend on future developments, including the duration and spread of the pandemic and related containment and mitigation actions taken by the U.S. Government, state and local government officials 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 receive our products, the ability of our suppliers to continue to operate, and the level of activity and demand for the ultimate product and services of our customers or their customers. As a result of the COVID-19 pandemic, the Company has experienced varied impacts across the business. 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 but most of those facilities are now fully operational. We considered the outbreak and subsequent impacts to be a trigger to reassess our goodwill and intangible asset valuations. We also assessed whether or not COVID-19 impacts our significant assumptions regarding future income from our underlying assets or potentially changes our liabilities. In order to evaluate these impacts, we made forecast assumptions regarding future business activity that are subject to a wide range of uncertainties, including those noted in the prior paragraph. Because of the dynamic environment, in future periods, we will continue to evaluate whether these assumptions are reasonable. Based upon qualitative and, in certain cases, quantitative analyses, we determined that our goodwill and intangibles are not impaired. However, the fair value of one reporting unit exceeded its underlying carrying value by 20% and if future economic conditions are worse than our forecasted assumptions, we may need to re-assess the reporting unit’s goodwill for impairment. We are focused on navigating the challenges presented by COVID-19 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 include, but are not limited to, reducing our discretionary spending, our capital investments and general and administrative costs by implementing pay freezes and cuts, employee furloughs and the suspension of non-critical hiring, and assessing the timing and amount of dividends on our common stock. We believe we have sufficient liquidity to withstand the expected impact of COVID-19. We are assessing the impact and availability of recently enacted global COVID-19 relief measures on our results of operations and liquidity, including the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, which provides for payroll tax deferrals and credits, income tax estimate deferrals, and an increase to 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, Interlogix, 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, 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, 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. See Note 10 – Borrowings and Lines of Credit and Note 3 – Earnings Per Share for additional information.

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The Unaudited Condensed Combined Financial Statements reflect the financial position, results of operations and cash flows of the Company for the periods presented as historically managed within UTC. The Unaudited Condensed Combined Financial Statements are derived from the consolidated financial statements and accounting records of UTC. They 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. They do not include all of the information and notes required by GAAP for complete financial statements. The Unaudited Condensed Combined Financial Statements reflect periods prior to the Separation and thus are prepared on a "carve-out" basis, as described below. The Unaudited Condensed Combined Statement of Operations include all revenues and costs directly attributable to Carrier, including costs for facilities, functions and services used by Carrier. Costs for certain functions and services performed by UTC are 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 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 Combined Statement of Operations. Current and deferred income taxes have been determined based on Carrier's stand-alone results. However, because the Company has historically filed tax returns as part of UTC in certain jurisdictions, the Company’s actual tax balances may differ from those reported. The Company’s portion of income taxes for domestic and certain jurisdictions outside the United States are deemed settled in the period the related tax expense was recorded. We entered into a transition services agreement ("TSA") with UTC and Otis Worldwide Corporation ("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. Because costs for these services historically were included in our operating results through expense allocations from UTC, we do not expect the costs associated with the TSA to be materially different and, therefore, we do not expect such costs to materially affect our results of operations or cash flows after becoming an independent publicly traded company. UTC used a centralized approach to cash management and financing its operations. Accordingly, none of the cash, third party debt or related interest expense of UTC has been allocated to Carrier in the Unaudited Condensed Combined Financial Statements. However, cash balances primarily associated with certain foreign entities that do not participate in UTC’s cash management program have been included in the Unaudited Condensed Combined Financial Statements. Transactions between UTC and Carrier are deemed settled immediately through UTC’s Net investment, other than those transactions which have historically been cash-settled and which are reflected in the Unaudited Condensed Combined Balance Sheet within Accounts receivable and Accounts payable. The net effect of the deemed settled transactions is reflected in the Unaudited Condensed Combined Statement of Cash Flows as Net transfers to UTC within financing activities and in the Unaudited Condensed Combined Balance Sheet as UTC’s Net investment (see Note 5 – Related Parties for additional information). All significant intra-company accounts and transactions have been eliminated in the preparation of the Unaudited Condensed Combined Financial Statements. The Unaudited Condensed Combined Financial Statements of the Company include assets and liabilities that have been determined to be specifically identifiable or otherwise attributable to the Company. All of the allocations and estimates in the Unaudited Condensed Combined Financial Statements are based on assumptions that management believes are reasonable. However, the Unaudited Condensed Combined Financial Statements included herein may not be indicative of the financial position, results of operations and cash flows of the Company in the future, or if the Company had been a separate, stand-alone entity during the periods presented. Non-controlling interest represents the non-controlling investors’ interests in the results of subsidiaries that we control and combine. Certain immaterial amounts presented in the Information Statement have been reclassified to conform to the current period presentation. Included in these presentation changes, we reclassified the Current portion of long-term debt from Accrued liabilities for 2019 on the accompanying Unaudited Condensed Combined Balance Sheet. 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") modifies 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 the 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 adoption did not have a significant impact on the Company's Unaudited Condensed Combined 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 the amendments in 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 of net assets 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 the adoption did not have a significant impact on the Company's Unaudited Condensed Combined 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. The 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 the adoption of this ASU did not have a significant impact on the Company's Unaudited Condensed Combined Financial Statements.

EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE

On April 3, 2020, the date of the Separation, 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. For the quarters ended March 31, 2020 and 2019, these shares are treated as issued and outstanding from January 1, 2020 and 2019, respectively, 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 equity awards of Carrier outstanding prior to the Separation.


(dollars in millions, except per share amounts; shares in millions)	March 31, 2020		March 31, 2019
Net income attributable to common shareowners	$	96	$	400

Basic weighted average number of shares outstanding	866		866

Diluted weighted average number of shares outstanding	866		866

Earnings Per Share
Basic	$	0.11	$	0.46
Diluted	$	0.11	$	0.46

REVENUE RECOGNITION

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

Contract Assets and Liabilities. Total contract assets and liabilities as of March 31, 2020 and December 31, 2019 are as follows:


(dollars in millions)	March 31, 2020		December 31, 2019
Contract assets, current	$	651	$	622
Contract assets, non-current (included within Other assets)	90		57
Total contract assets	741		679
Contract liabilities, current	(485)		(443)
Contract liabilities, non-current (included within Other long-term liabilities)	(168)		(168)
Total contract liabilities	(653)		(611)
Net contract assets	$	88	$	68

Contract assets increased $62 million for the quarter ended March 31, 2020, primarily due to the timing of billings on customer contracts and contract completions. Contract liabilities increased $42 million for the quarter ended March 31, 2020, primarily due to customer billings in excess of revenue earned.

For the quarters ended March 31, 2020 and 2019, we recognized revenue of $144 million and $178 million, respectively, related to contract liabilities as of January 1, 2020 and 2019.

Remaining Performance Obligations ("RPO"). As of March 31, 2020, our total RPO was approximately $5.1 billion compared with $4.7 billion as of December 31, 2019. Of the total RPO as of March 31, 2020, we expect approximately 66% will be recognized as sales over the following 12 months.

See Note 18 – Segment Financial Data which provides incremental disclosures required by Accounting Standard Codification ("ASC") 606 – Revenue from Contracts with Customers.

RELATED PARTIES	3 Months Ended
RELATED PARTIES	Mar. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTIES	RELATED PARTIES Historically, Carrier has been managed and operated in the normal course of business with other affiliates of UTC. Accordingly, certain shared costs have been allocated to the Company and are reflected as expenses in the Unaudited Condensed Combined Financial Statements. Related Party Sales. During the historical periods presented, the Company sold products and services to UTC and its other affiliates. Product sales in the Unaudited Condensed Combined Statement of Operations include sales to UTC and affiliates of UTC other than Carrier of $3 million and $6 million for the quarters ended March 31, 2020 and 2019, respectively. Allocated Centralized Costs. UTC incurred corporate costs for services provided to the Company as well as to other UTC businesses. These services included treasury, tax, accounting, human resources, internal audit, legal, purchasing, information technology and other services. 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 the UTC Net investment. The allocated centralized costs for the quarters ended March 31, 2020 and 2019 were $43 million and $54 million, respectively, and are primarily included in Selling, general and administrative in the Unaudited Condensed Combined 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 received by the Company for the quarters ended March 31, 2020 and 2019. 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 pre-Separation costs of approximately $45 million for the quarter ended March 31, 2020, primarily recorded in Selling, general and administrative in the Unaudited Condensed Combined Statement of Operations, which primarily consist of employee-related costs, costs to establish certain stand-alone functions and information technology systems, professional services fees and other transaction-related costs resulting from Carrier’s transition to becoming an independent publicly traded company. Carrier did not incur costs in connection with the Separation for the quarter ended March 31, 2019. Cash Management and Financing. 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 Combined Balance Sheet. During the quarter ended March 31, 2020, net liabilities of $79 million were contributed to the Company by UTC which primarily consisted of deferred tax assets and liabilities and fixed assets. These non-cash contributions are recorded as Net transfers to UTC on the Unaudited Condensed Combined 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 Combined Balance Sheet in the periods presented when the related party transactions were not settled in cash. The UTC Net investment includes related party receivables due from UTC and its affiliates of $3 million and $16 billion as of March 31, 2020 and December 31, 2019, respectively. The UTC Net investment includes related party payables due to UTC and its affiliates of $258 million and $3 billion as of March 31, 2020 and December 31, 2019, respectively. 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 Combined Statement of Operations. There was $0 million and $28 million of interest income on activity with UTC for the quarters ended March 31, 2020 and 2019, respectively. Interest expense on activity with UTC was $0 million and $16 million for the quarters ended March 31, 2020 and 2019, respectively. The effect of the settlement of these related party transactions is included in financing activity in the Unaudited Condensed Combined Statement of Cash Flows. Additionally, certain transactions between Carrier and UTC and its affiliates were cash-settled and are reflected in the Unaudited Condensed Combined Balance Sheet within Accounts receivable and were $1 million and $6 million as of March 31, 2020 and December 31, 2019, respectively. Accounts payable includes $0 million and $4 million at March 31, 2020 and December 31, 2019, respectively, related to such transactions. Equity Method Investments. Carrier sells products to and purchases products from uncombined entities accounted for under the equity method, which are considered related parties. During the quarters ended March 31, 2020 and 2019, Product sales in the Unaudited Condensed Combined Statement of Operations included sales to equity method investees of $344 million and $394 million, respectively. During the quarters ended March 31, 2020 and 2019, Cost of products sold in the Unaudited Condensed Combined Statement of Operations included purchases from equity method investees of $77 million and $77 million, respectively. Carrier had receivables from equity method investees of $191 million and $137 million at March 31, 2020 and December 31, 2019, respectively. Carrier also had payables to equity method investees of $38 million and $55 million at March 31, 2020 and December 31, 2019, respectively. The receivables and payables are included in Accounts receivable, net and Accounts payable on the Unaudited Condensed Combined 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 quarter 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, based on the income approach using the discounted cash flow method, and determined that the loss in value was other-than-temporary, due to a reduction in sales and earnings driven by deterioration in the oil and gas industry, the joint venture's primary market, and 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 quarter ended March 31, 2020 which is included in Other (expense) income, net on the accompanying Unaudited Condensed Combined Statement of Operations.

ACCOUNTS RECEIVABLE, NET

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

The Company is exposed to credit losses primarily through the sales 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 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, factors considered in our evaluation of collectability include the underlying value of any collateral or security interests, past due balances, historical losses, and existing economic conditions including 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 an accounts receivable is determined to be no longer collectible.

Accounts receivable, net consisted of the following:


(dollars in millions)	March 31, 2020		December 31, 2019
Trade receivables	$	2,377	$	2,444
Receivables from affiliates	191		143

Other receivables	169		184
Accounts receivable	2,737		2,771
Less: Allowance for expected credit losses	(63)		(45)
Accounts receivable, net	$	2,674	$	2,726

The changes in the allowance for expected credit losses related to Accounts receivable are as follows:


(dollars in millions)
Balance at January 1, 2020	$	45
Current period provision for expected credit losses	12

Other (including impact of adoption of ASU 2016-13)	6
Balance at March 31, 2020	$	63

FIXED ASSETS, NET

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

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)	March 31, 2020		December 31, 2019
Land		$	106	$	113
Buildings and improvements	40	1,099		1,138
Machinery, tools and equipment	3 to 25	1,924		1,924
Rental assets	3 to 12	389		395
Other, including assets under construction		194		188
Fixed assets, gross		3,712		3,758
Accumulated depreciation		(2,074)		(2,095)
Fixed assets, net		$	1,638	$	1,663

Depreciation expense was $56 million and $54 million for the quarters ended March 31, 2020 and 2019, respectively.

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

Business Acquisitions and Dispositions. There were no significant acquisitions or divestitures during the quarters ended March 31, 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	(204)		(50)		18		(236)
Balance at March 31, 2020	$	5,147	$	1,178	$	3,323	$	9,648

Intangible Assets, net. Identifiable intangible assets are comprised of the following:


	March 31, 2020						December 31, 2019
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,448	$	(1,142)	$	1,479	$	(1,154)
Patents and trademarks	284		(201)		287		(201)
Monitoring lines	62		(49)		67		(52)
Service portfolios and other	624		(509)		629		(506)
	2,418		(1,901)		2,462		(1,913)
Unamortized:
Trademarks and other	497		—		534		—
Intangible assets, net	$	2,915	$	(1,901)	$	2,996	$	(1,913)

Amortization of Intangible assets was $25 million and $31 million for the quarters ended March 31, 2020 and 2019, respectively.

INVENTORIES, NET

3 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

INVENTORIES, NET


(dollars in millions)	March 31, 2020		December 31, 2019
Raw materials	$	335	$	290
Work-in-process	147		120
Finished goods	1,074		922

Inventories, net	$	1,556	$	1,332

Raw materials, work-in-process and finished goods are net of valuation reserves of $153 million and $152 million as of March 31, 2020 and December 31, 2019, respectively.

BORROWINGS AND LINES OF CREDIT

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

BORROWINGS AND LINES OF CREDIT

As of March 31, 2020, we had entered into, but not utilized, a $2.0 billion unsecured, unsubordinated commercial paper program. We plan to use our commercial paper borrowings for general corporate purposes, including the funding of working capital and potential acquisitions. 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 was not available to Carrier or its subsidiaries until after the Separation. The revolving credit facility will support our commercial paper program and support our cash requirements. A commitment fee of 0.125% is charged on the unused commitments. Borrowings under the 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 March 31, 2020.

On February 10, 2020, we entered into a $1.75 billion term loan credit agreement that provides an unsecured, unsubordinated credit facility which expires on February 10, 2023 (the "term loan credit facility"). Borrowings under the term loan credit facility are subject to a variable interest rate based on LIBOR plus a ratings-based margin, which was 112.5 basis points as of March 31, 2020.

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.

The revolving credit agreement, term loan credit agreement and indenture contain affirmative and negative covenants customary to 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. In addition, the revolving credit agreement and term loan credit agreement contain a financial covenant that requires us to not exceed a maximum consolidated total net leverage ratio that will be tested beginning with the fiscal quarter ending on September 30, 2020.

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.

Long-term debt, all of which was issued during the quarter ended March 31, 2020 except for Other long-term debt, consisted of the following:


(dollars in millions)
Debt Description	Interest Rate			Due Date	March 31, 2020			December 31, 2019
3-Year Term Loan Credit Facility	2.195	%	1	February 10, 2023	$	1,750	2	$	—
3-Year Fixed Rate Notes	1.923	%		February 15, 2023	500		2	—
5-Year Fixed Rate Notes	2.242	%		February 15, 2025	2,000		2	—
7-Year Fixed Rate Notes	2.493	%		February 15, 2027	1,250		2	—
10-Year Fixed Rate Notes	2.722	%		February 15, 2030	2,000		2	—
20-Year Fixed Rate Notes	3.377	%		April 05, 2040	1,500		2	—
30-Year Fixed Rate Notes	3.577	%		April 05, 2050	2,000		2	—
Other (including project financing obligations and finance leases)					326			319

Total principal long-term debt					11,326			319
Other (discounts and debt issuance costs)					(79)		2	—
Total debt					11,247			319
Less: current portion of long-term debt					218			237
Long-term debt, net of current portion					$	11,029		$	82

¹ The interest rate on the term loan is variable based on six month LIBOR of 1.07% plus 112.5 basis points.

² The net proceeds of the financing arrangements were used to distribute cash to UTC.

We issued $40 million and $52 million of debt during the quarters ended March 31, 2020 and 2019, respectively, relating to project financing arrangements. Long-term debt repayments during the quarters ended March 31, 2020 and 2019 were $34 million and $1 million, respectively.

Scheduled maturities of long-term debt, excluding amortization of discount, are as follows:


(dollars in millions)
2020	$	218
2021	$	70
2022	$	28
2023	$	2,260
2024	$	—
Thereafter	$	8,750

The average maturity of our long-term debt at March 31, 2020 is approximately 11 years and the average interest rate on our total borrowings for the quarter ended March 31, 2020 is approximately 2.7%. Interest expense associated with long-term debt for the quarter ended March 31, 2020 was $31 million. Included in interest expense on the accompanying Unaudited Condensed Combined Statement of Operations is accrued interest of $25 million, debt issuance costs of $5 million and amortization of debt issuance costs of $0.7 million.

EMPLOYEE BENEFIT PLANS

3 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

Pension Plans. The Company sponsors both funded and unfunded domestic and international defined pension and other post-retirement benefit plans, and defined contribution plans. Additionally, the Company contributes to various domestic and international multi-employer defined pension and other post-retirement benefit plans.

Contributions to the plans were as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Defined benefit plans	$	25	$	22
Defined contribution plans	$	30	$	25
Multi-employer pension plans	$	5	$	5

The following table illustrates the components of net periodic pension benefits for our defined pension and post-retirement benefit plans:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Service cost	$	8	$	8
Interest cost	13		17
Expected return on plan assets	(35)		(39)
Amortization of prior service credit	1		1
Recognized actuarial net loss	5		2
Net settlement, curtailment and special termination benefit loss	1		—
Net periodic pension benefit	$	(7)	$	(11)

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 Combined 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, which 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 Combined Balance Sheet.

The pension and post-retirement expenses associated with the UTC plans were allocated to the Company and reported in Cost of products, Cost of services sold, Selling, general and administrative and Non-service pension benefit on the accompanying Unaudited Condensed Combined Statement of Operations. The pension and post-retirement expenses were as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Service cost	$	—	$	4
Non-service pension benefit	(2)		(20)
Total net periodic benefit	$	(2)	$	(16)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

3 Months Ended

Mar. 31, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

A summary of the changes in each component of Accumulated other comprehensive (loss), net of tax for the quarters ended March 31, 2020 and 2019 were as follows:


(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Post-retirement Plans		Accumulated Other Comprehensive (Loss)
Balance as of January 1, 2020	$	(780)	$	(473)	$	(1,253)
Other comprehensive loss before reclassifications, net	(488)		—		(488)
Amounts reclassified, pre-tax	—		6		6
Tax benefit reclassified	—		(1)		(1)

Balance as of March 31, 2020	$	(1,268)	$	(468)	$	(1,736)


(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Post-retirement Plans		Accumulated Other Comprehensive (Loss)
Balance as of January 1, 2019	$	(834)	$	(381)	$	(1,215)
Other comprehensive income before reclassifications, net	91		2		93
Amounts reclassified, pre-tax	—		3		3

ASU 2018-02 adoption impact	—		(9)		(9)
Balance as of March 31, 2019	$	(743)	$	(385)	$	(1,128)

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	3 Months Ended
INCOME TAXES	Mar. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective tax rate for the quarter ended March 31, 2020 was 65.4% compared with 25.8% for the quarter ended March 31, 2019. This increase is primarily the result of a $51 million charge related to a valuation allowance recorded against a United Kingdom tax loss and credit carryforward as a result of separation-related activities, a charge of $46 million resulting from Carrier's decision to no longer permanently reinvest certain pre-2018 unremitted non-U.S. earnings, and the impact of a non-deductible impairment charge of $71 million on a minority owned joint venture investment. 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 COVID-19 may have on the future realizability of a portion of the remaining non-US 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 are included in the combined tax returns with UTC for the period up through the Separation. 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. With few exceptions, Carrier is no longer subject to U.S. federal, state and local and non-U.S. income tax examinations for tax years before 2010. In the ordinary course of business, there is inherent uncertainty in quantifying our income tax positions. We assess our income tax positions and record tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting date. It is reasonably possible that a net decrease in unrecognized tax benefit of $15 million to $30 million may occur within 12 months as a result of additional worldwide uncertain tax positions, the revaluation of uncertain tax positions arising from examinations, appeals, or in the courts, or due to the closure of tax statutes and the Separation

RESTRUCTURING COSTS

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

RESTRUCTURING COSTS

During the quarters ended March 31, 2020 and 2019, we recorded net pre-tax restructuring costs totaling $5 million and $33 million, respectively, for new and ongoing restructuring actions in our segments as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
HVAC	$	2	$	17
Refrigeration	—		3
Fire & Security	3		13

Total restructuring costs	$	5	$	33

Restructuring charges incurred during the quarters ended March 31, 2020 and 2019 primarily relate to actions initiated during 2020 and 2019, and are recorded as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Cost of sales	$	1	$	5
Selling, general and administrative	4		28

Total restructuring costs	$	5	$	33

2020 Actions. During the quarter ended March 31, 2020, we recorded net pre-tax restructuring costs of $2 million for restructuring actions initiated in 2020, consisting of $1 million in Cost of sales and $1 million in Selling, general and administrative. The 2020 actions relate to 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, Lease Termination and Other Costs		Total
Restructuring accruals as of January 1, 2020	$	—	$	—	$	—
Net pre-tax restructuring costs	2		—		2
Utilization, foreign exchange and other costs	—		—		—
Balance as of March 31, 2020	$	2	$	—	$	2

The following table summarizes expected, incurred and remaining costs for the 2020 restructuring actions by segment:


(dollars in millions)	Expected Costs		Costs Incurred - Quarter Ended March 31, 2020		Remaining Costs at March 31, 2020
HVAC	$	3	$	(1)	$	2
Refrigeration	—		—		—
Fire & Security	1		(1)		—
Eliminations and other	—		—		—
Total	$	4	$	(2)	$	2

2019 Actions. During the quarters ended March 31, 2020 and 2019, we recorded net pre-tax restructuring costs totaling $3 million and $25 million, respectively, for restructuring actions initiated in 2019, consisting of $0 million and $2 million in Cost of products and Cost of services sold and $3 million and $23 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, Lease Termination and Other Costs		Total
Restructuring accruals as of January 1, 2020	$	43	$	1	$	44
Net pre-tax restructuring costs	3		—		3
Utilization, foreign exchange and other costs	(14)		(1)		(15)
Balance as of March 31, 2020	$	32	$	—	$	32

The following table summarizes expected, incurred and remaining costs for the 2019 restructuring actions by segment:


(dollars in millions)	Expected Costs		Costs Incurred in 2019		Costs Incurred - Quarter Ended March 31, 2020		Remaining Costs at March 31, 2020
HVAC	$	53	$	(51)	$	(1)	$	1
Refrigeration	16		(14)		—		2
Fire & Security	49		(43)		(2)		4
Eliminations and other	2		(2)		—		—
Total	$	120	$	(110)	$	(3)	$	7

2018 and Prior Actions. During the quarters ended March 31, 2020 and 2019, we recorded net pre-tax restructuring costs totaling $0 million and $8 million, respectively, for restructuring actions initiated in 2018 and prior. As of March 31, 2020 and 2019, we had approximately $13 million and $47 million, respectively, of accrual balances remaining related to 2018 and prior actions.

GUARANTEES

3 Months Ended

Mar. 31, 2020

Guarantees [Abstract]

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 Combined Balance Sheet, for the quarters ended March 31, 2020 and 2019 are as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Balance as of January 1	$	488	$	473
Warranties and performance guarantees issued	35		40
Settlements made	(39)		(36)
Other	(3)		—
Balance as of March 31	$	481	$	477

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

In accordance with the provisions of ASC 820, 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 Combined Balance Sheet:


March 31, 2020
(dollars in millions)	Total			Level 1		Level 2		Level 3
Recurring fair value measurement:
Derivative assets	$	23	1	$	—	$	23	$	—
Derivative liabilities	$	(10)	2	$	—	$	(10)	$	—

¹ Included in Other assets, current on the accompanying Unaudited Condensed Combined Balance Sheet

² Included in Accrued liabilities on the accompanying Unaudited Condensed Combined 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, interest, contract and discount rates.

The following table provides the carrying amounts and fair values of financial instruments that are not recorded at fair value in our Unaudited Condensed Combined Balance Sheet:


	March 31, 2020						December 31, 2019
(dollars in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value



Current and long-term debt (excluding finance leases)	$	11,241	$	10,634	$	313	$	313

The following table provides the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Unaudited Condensed Combined Balance Sheet:


March 31, 2020
(dollars in millions)	Total		Level 1		Level 2		Level 3



Current and long-term debt (excluding finance leases)	$	10,634	$	8,565	$	—	$	2,069


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 March 31, 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, adjusted for any change in credit risk premium. At March 31, 2020, the project financing obligations included in Long-term debt approximate their fair value. During the quarters ended March 31, 2020 and 2019, there were no significant transfers in or out of levels 1, 2, or 3.

The following tables present changes during the quarters ended March 31, 2020 and 2019 in Level 3 liabilities not measured at fair value on a recurring basis:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Fair value as of January 1	$	313	$	291
Issuances	1,790		52
Settlements	(34)		(1)

Fair value as of March 31	$	2,069	$	342

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

CONTINGENT LIABILITIES	3 Months Ended
CONTINGENT LIABILITIES	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES	CONTINGENT LIABILITIES Except as otherwise noted, the Company is unable to predict the final outcome of these matters based on the information currently available; 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 periodically reassess these amounts. Management believes that the likelihood of incurring losses materially in excess of the amounts accrued is remote. As of March 31, 2020 and December 31, 2019, the outstanding liability for environmental obligations was $218 million and $217 million, respectively, of which $13 million and $14 million, respectively, is included in Accrued liabilities and $205 million and $203 million, respectively, is included in Other long-term liabilities on the accompanying Unaudited Condensed Combined Balance Sheet. Legal Proceedings. Asbestos Matters – The Company and its combined subsidiaries have been named as defendants in lawsuits alleging personal injury as a result of exposure to asbestos allegedly integrated into certain of Carrier’s products or business premises. While the Company has never manufactured asbestos and no longer incorporates it in to 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 March 31, 2020, the estimated range of liability to resolve all pending and unasserted potential future asbestos claims through 2059 is approximately $255 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 $255 million, which is principally recorded in Other long-term liabilities on the Unaudited Condensed Combined Balance Sheet as of March 31, 2020. This amount is undiscounted and excludes the Company’s legal fees to defend the asbestos claims, which will continue to be expensed as incurred. In addition, the Company has an insurance recovery receivable for probable asbestos related recoveries of approximately $104 million, which is included primarily in Other assets on the Unaudited Condensed Combined Balance Sheet as of both March 31, 2020 and December 31, 2019. Other. As described in Note 15 – 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, 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

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

SEGMENT FINANCIAL DATA

Carrier’s operations are classified into three principal 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, 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 Quarters Ended March 31,						For the Quarters Ended March 31,
(dollars in millions)	2020		2019		2020		2019
HVAC	$	1,959	$	2,168	$	167	$	293
Refrigeration	808		962		99		127
Fire & Security	1,206		1,290		120		132
Total segment	3,973		4,420		386		552
Eliminations and other	(85)		(97)		(35)		(17)
General corporate expenses	—		—		(36)		(35)
Combined	$	3,888	$	4,323	$	315	$	500

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 quarters ended March 31, 2020 and 2019.



	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
United States Operations	$	2,011	$	2,219
International Operations
Europe	1,179		1,292
Asia Pacific	519		612
Other	179		200
Combined	$	3,888	$	4,323

Segment sales disaggregated by product and service are as follows:



	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Sales Type
Product	$	1,657	$	1,861
Service	302		307
HVAC sales	1,959		2,168
Product	713		867
Service	95		95
Refrigeration sales	808		962
Product	860		935
Service	346		355
Fire & Security sales	1,206		1,290
Total segment sales	3,973		4,420
Eliminations and other	(85)		(97)
Combined	$	3,888	$	4,323

SUBSEQUENT EVENT	3 Months Ended
SUBSEQUENT EVENT	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTS Distribution from UTC. On April 3, 2020, the Separation was completed through the Distribution of all of the outstanding common stock of Carrier 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 the Company’s common stock, par value $0.01 per share in the Distribution. As a result of the Distribution, which was effective at the Effective Time, UTC shareowners of record received one share of the Company’s common stock for every one share of UTC common stock. As a result of the Distribution, Carrier became an independent, publicly traded company and our common stock is listed under the symbol "CARR" on the New York Stock Exchange. In connection with the Separation, the Business entered into several agreements with UTC and 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 that we entered into that govern aspects of our relationship with UTC and Otis following the Separation include: Transition Services Agreement. We entered into a 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. 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 (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
Consolidation	The Unaudited Condensed Combined Financial Statements reflect the financial position, results of operations and cash flows of the Company for the periods presented as historically managed within UTC. The Unaudited Condensed Combined Financial Statements are derived from the consolidated financial statements and accounting records of UTC.
Basis of Accounting	They 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. They do not include all of the information and notes required by GAAP for complete financial statements. The Unaudited Condensed Combined Financial Statements reflect periods prior to the Separation and thus are prepared on a "carve-out" basis, as described below.
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") modifies 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 the 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 adoption did not have a significant impact on the Company's Unaudited Condensed Combined 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 the amendments in 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 of net assets 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 the adoption did not have a significant impact on the Company's Unaudited Condensed Combined 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. The 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 the adoption of this ASU did not have a significant impact on the Company's Unaudited Condensed Combined Financial Statements.

EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted


(dollars in millions, except per share amounts; shares in millions)	March 31, 2020		March 31, 2019
Net income attributable to common shareowners	$	96	$	400

Basic weighted average number of shares outstanding	866		866

Diluted weighted average number of shares outstanding	866		866

Earnings Per Share
Basic	$	0.11	$	0.46
Diluted	$	0.11	$	0.46

REVENUE RECOGNITION (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability

Total contract assets and liabilities as of March 31, 2020 and December 31, 2019 are as follows:


(dollars in millions)	March 31, 2020		December 31, 2019
Contract assets, current	$	651	$	622
Contract assets, non-current (included within Other assets)	90		57
Total contract assets	741		679
Contract liabilities, current	(485)		(443)
Contract liabilities, non-current (included within Other long-term liabilities)	(168)		(168)
Total contract liabilities	(653)		(611)
Net contract assets	$	88	$	68

ACCOUNTS RECEIVABLE, NET (Tables)

3 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Accounts receivable, net consisted of the following:


(dollars in millions)	March 31, 2020		December 31, 2019
Trade receivables	$	2,377	$	2,444
Receivables from affiliates	191		143

Other receivables	169		184
Accounts receivable	2,737		2,771
Less: Allowance for expected credit losses	(63)		(45)
Accounts receivable, net	$	2,674	$	2,726

Accounts Receivable, Allowance for Credit Loss

The changes in the allowance for expected credit losses related to Accounts receivable are as follows:


(dollars in millions)
Balance at January 1, 2020	$	45
Current period provision for expected credit losses	12

Other (including impact of adoption of ASU 2016-13)	6
Balance at March 31, 2020	$	63

FIXED ASSETS, NET (Tables)

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


(dollars in millions)	Estimated Useful Lives (Years)	March 31, 2020		December 31, 2019
Land		$	106	$	113
Buildings and improvements	40	1,099		1,138
Machinery, tools and equipment	3 to 25	1,924		1,924
Rental assets	3 to 12	389		395
Other, including assets under construction		194		188
Fixed assets, gross		3,712		3,758
Accumulated depreciation		(2,074)		(2,095)
Fixed assets, net		$	1,638	$	1,663

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 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	(204)		(50)		18		(236)
Balance at March 31, 2020	$	5,147	$	1,178	$	3,323	$	9,648

Intangible Assets Disclosure

Identifiable intangible assets are comprised of the following:


	March 31, 2020						December 31, 2019
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,448	$	(1,142)	$	1,479	$	(1,154)
Patents and trademarks	284		(201)		287		(201)
Monitoring lines	62		(49)		67		(52)
Service portfolios and other	624		(509)		629		(506)
	2,418		(1,901)		2,462		(1,913)
Unamortized:
Trademarks and other	497		—		534		—
Intangible assets, net	$	2,915	$	(1,901)	$	2,996	$	(1,913)

Schedule of Indefinite-Lived Intangible Assets

Identifiable intangible assets are comprised of the following:


	March 31, 2020						December 31, 2019
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,448	$	(1,142)	$	1,479	$	(1,154)
Patents and trademarks	284		(201)		287		(201)
Monitoring lines	62		(49)		67		(52)
Service portfolios and other	624		(509)		629		(506)
	2,418		(1,901)		2,462		(1,913)
Unamortized:
Trademarks and other	497		—		534		—
Intangible assets, net	$	2,915	$	(1,901)	$	2,996	$	(1,913)

INVENTORIES, NET (Tables)

3 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Schedule of Inventory, Current


(dollars in millions)	March 31, 2020		December 31, 2019
Raw materials	$	335	$	290
Work-in-process	147		120
Finished goods	1,074		922

Inventories, net	$	1,556	$	1,332

BORROWINGS AND LINES OF CREDIT (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Long-term debt, all of which was issued during the quarter ended March 31, 2020 except for Other long-term debt, consisted of the following:


(dollars in millions)
Debt Description	Interest Rate			Due Date	March 31, 2020			December 31, 2019
3-Year Term Loan Credit Facility	2.195	%	1	February 10, 2023	$	1,750	2	$	—
3-Year Fixed Rate Notes	1.923	%		February 15, 2023	500		2	—
5-Year Fixed Rate Notes	2.242	%		February 15, 2025	2,000		2	—
7-Year Fixed Rate Notes	2.493	%		February 15, 2027	1,250		2	—
10-Year Fixed Rate Notes	2.722	%		February 15, 2030	2,000		2	—
20-Year Fixed Rate Notes	3.377	%		April 05, 2040	1,500		2	—
30-Year Fixed Rate Notes	3.577	%		April 05, 2050	2,000		2	—
Other (including project financing obligations and finance leases)					326			319

Total principal long-term debt					11,326			319
Other (discounts and debt issuance costs)					(79)		2	—
Total debt					11,247			319
Less: current portion of long-term debt					218			237
Long-term debt, net of current portion					$	11,029		$	82

¹ The interest rate on the term loan is variable based on six month LIBOR of 1.07% 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	$	218
2021	$	70
2022	$	28
2023	$	2,260
2024	$	—
Thereafter	$	8,750

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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-Paragraph 1
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Subparagraph (SX 210.4-08.(e),(f))
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

EMPLOYEE BENEFIT PLANS (Tables)

3 Months Ended

Mar. 31, 2020

Retirement Benefits [Abstract]

Schedule of Employer Contributions to Plans

Contributions to the plans were as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Defined benefit plans	$	25	$	22
Defined contribution plans	$	30	$	25
Multi-employer pension plans	$	5	$	5

Schedule of Defined Benefit Plans Disclosures

The following table illustrates the components of net periodic pension benefits for our defined pension and post-retirement benefit plans:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Service cost	$	8	$	8
Interest cost	13		17
Expected return on plan assets	(35)		(39)
Amortization of prior service credit	1		1
Recognized actuarial net loss	5		2
Net settlement, curtailment and special termination benefit loss	1		—
Net periodic pension benefit	$	(7)	$	(11)

Schedule of Multiemployer Plans

The pension and post-retirement expenses were as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Service cost	$	—	$	4
Non-service pension benefit	(2)		(20)
Total net periodic benefit	$	(2)	$	(16)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

3 Months Ended

Mar. 31, 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 quarters ended March 31, 2020 and 2019 were as follows:


(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Post-retirement Plans		Accumulated Other Comprehensive (Loss)
Balance as of January 1, 2020	$	(780)	$	(473)	$	(1,253)
Other comprehensive loss before reclassifications, net	(488)		—		(488)
Amounts reclassified, pre-tax	—		6		6
Tax benefit reclassified	—		(1)		(1)

Balance as of March 31, 2020	$	(1,268)	$	(468)	$	(1,736)


(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Post-retirement Plans		Accumulated Other Comprehensive (Loss)
Balance as of January 1, 2019	$	(834)	$	(381)	$	(1,215)
Other comprehensive income before reclassifications, net	91		2		93
Amounts reclassified, pre-tax	—		3		3

ASU 2018-02 adoption impact	—		(9)		(9)
Balance as of March 31, 2019	$	(743)	$	(385)	$	(1,128)

RESTRUCTURING COSTS (Tables)

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
HVAC	$	2	$	17
Refrigeration	—		3
Fire & Security	3		13

Total restructuring costs	$	5	$	33

Restructuring charges incurred during the quarters ended March 31, 2020 and 2019 primarily relate to actions initiated during 2020 and 2019, and are recorded as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Cost of sales	$	1	$	5
Selling, general and administrative	4		28

Total restructuring costs	$	5	$	33

The following table summarizes expected, incurred and remaining costs for the 2019 restructuring actions by segment:


(dollars in millions)	Expected Costs		Costs Incurred in 2019		Costs Incurred - Quarter Ended March 31, 2020		Remaining Costs at March 31, 2020
HVAC	$	53	$	(51)	$	(1)	$	1
Refrigeration	16		(14)		—		2
Fire & Security	49		(43)		(2)		4
Eliminations and other	2		(2)		—		—
Total	$	120	$	(110)	$	(3)	$	7

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes the accrual balance and utilization for the 2020 restructuring actions:


(dollars in millions)	Severance		Facility Exit, Lease Termination and Other Costs		Total
Restructuring accruals as of January 1, 2020	$	—	$	—	$	—
Net pre-tax restructuring costs	2		—		2
Utilization, foreign exchange and other costs	—		—		—
Balance as of March 31, 2020	$	2	$	—	$	2

The following table summarizes expected, incurred and remaining costs for the 2020 restructuring actions by segment:


(dollars in millions)	Expected Costs		Costs Incurred - Quarter Ended March 31, 2020		Remaining Costs at March 31, 2020
HVAC	$	3	$	(1)	$	2
Refrigeration	—		—		—
Fire & Security	1		(1)		—
Eliminations and other	—		—		—
Total	$	4	$	(2)	$	2

The following table summarizes the accrual balances and utilization for the 2019 restructuring actions:


(dollars in millions)	Severance		Facility Exit, Lease Termination and Other Costs		Total
Restructuring accruals as of January 1, 2020	$	43	$	1	$	44
Net pre-tax restructuring costs	3		—		3
Utilization, foreign exchange and other costs	(14)		(1)		(15)
Balance as of March 31, 2020	$	32	$	—	$	32

GUARANTEES (Tables)

3 Months Ended

Mar. 31, 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 Combined Balance Sheet, for the quarters ended March 31, 2020 and 2019 are as follows:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Balance as of January 1	$	488	$	473
Warranties and performance guarantees issued	35		40
Settlements made	(39)		(36)
Other	(3)		—
Balance as of March 31	$	481	$	477

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring


March 31, 2020
(dollars in millions)	Total			Level 1		Level 2		Level 3
Recurring fair value measurement:
Derivative assets	$	23	1	$	—	$	23	$	—
Derivative liabilities	$	(10)	2	$	—	$	(10)	$	—

¹ Included in Other assets, current on the accompanying Unaudited Condensed Combined Balance Sheet

² Included in Accrued liabilities on the accompanying Unaudited Condensed Combined 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 Combined Balance Sheet:


	March 31, 2020						December 31, 2019
(dollars in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value



Current and long-term debt (excluding finance leases)	$	11,241	$	10,634	$	313	$	313

The following table provides the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Unaudited Condensed Combined Balance Sheet:


March 31, 2020
(dollars in millions)	Total		Level 1		Level 2		Level 3



Current and long-term debt (excluding finance leases)	$	10,634	$	8,565	$	—	$	2,069


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 tables present changes during the quarters ended March 31, 2020 and 2019 in Level 3 liabilities not measured at fair value on a recurring basis:


	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Fair value as of January 1	$	313	$	291
Issuances	1,790		52
Settlements	(34)		(1)

Fair value as of March 31	$	2,069	$	342

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

SEGMENT FINANCIAL DATA (Tables)

3 Months Ended

Mar. 31, 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 Quarters Ended March 31,						For the Quarters Ended March 31,
(dollars in millions)	2020		2019		2020		2019
HVAC	$	1,959	$	2,168	$	167	$	293
Refrigeration	808		962		99		127
Fire & Security	1,206		1,290		120		132
Total segment	3,973		4,420		386		552
Eliminations and other	(85)		(97)		(35)		(17)
General corporate expenses	—		—		(36)		(35)
Combined	$	3,888	$	4,323	$	315	$	500

Sales by Product vs. Service



	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
United States Operations	$	2,011	$	2,219
International Operations
Europe	1,179		1,292
Asia Pacific	519		612
Other	179		200
Combined	$	3,888	$	4,323

Segment sales disaggregated by product and service are as follows:



	For the Quarters Ended March 31,
(dollars in millions)	2020		2019
Sales Type
Product	$	1,657	$	1,861
Service	302		307
HVAC sales	1,959		2,168
Product	713		867
Service	95		95
Refrigeration sales	808		962
Product	860		935
Service	346		355
Fire & Security sales	1,206		1,290
Total segment sales	3,973		4,420
Eliminations and other	(85)		(97)
Combined	$	3,888	$	4,323

DESCRIPTION OF BUSINESS (Details)	1 Months Ended	3 Months Ended
DESCRIPTION OF BUSINESS (Details)	Mar. 27, 2020 USD ($)	Mar. 31, 2020 USD ($) segment	Mar. 31, 2019 USD ($)
Subsequent Event [Line Items]
Reporting unit, percentage of fair value in excess of carrying value (less than)		20.00%
Number of reportable segments \| segment		3
Aggregate principal balance		$ 11,000,000,000.0
Net transfers to UTC	$ 10,900,000,000	$ 10,948,000,000	$ 89,000,000

EARNINGS PER SHARE - Narrative (Details) - Subsequent Event	Apr. 03, 2020 $ / shares shares
Subsequent Event [Line Items]
Common stock, shares, issued (in shares) \| shares	866,158,910
Common stock, par or stated value per share (in dollars per share) \| $ / shares	$ 0.01

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income attributable to common shareowners	$ 96	$ 400
Basic weighted average number of shares outstanding (in shares)	866	866
Diluted weighted average number of shares outstanding (in shares)	866	866
Basic (in dollars per share)	$ 0.11	$ 0.46
Diluted (in dollars per share)	$ 0.11	$ 0.46

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

REVENUE RECOGNITION - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets, current	$ 651	$ 622
Contract assets, non-current (included within Other assets)	90	57
Total contract assets	741	679
Contract liabilities, current	(485)	(443)
Contract liabilities, non-current (included within Other long-term liabilities)	(168)	(168)
Total contract liabilities	(653)	(611)
Net contract assets	$ 88	$ 68

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract with customer, asset, change	$ 62
Contract with customer, liability, change	42
Contract with customer, liability, revenue recognized	$ 144	$ 178

REVENUE RECOGNITION - Remaining Performance Obligations (Details) - USD ($) $ in Billions	Mar. 31, 2020	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5.1	$ 4.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	66.00%
Revenue, remaining performance obligation, period	12 months

RELATED PARTIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Contributions of assets and (liabilities) from parent, net	$ 79
Impairment charge on minority owned joint venture investment	71	$ 0
Spinoff
Related Party Transaction [Line Items]
Separation costs	45	0
UTC
Related Party Transaction [Line Items]
Revenue from related parties	3	6
Related party transaction, selling, general and administrative expenses from transactions with related party	43	54
Accounts receivable, related parties	3		$ 16,000
Accounts payable, related parties	258		3,000
Interest income, related party	0	28
Interest expense, related party	0	16
Accounts receivable, related parties, current	1		6
Accounts payable, related parties, current	0		4
Equity Method Investee
Related Party Transaction [Line Items]
Revenue from related parties	344	394
Accounts receivable, related parties	191		137
Accounts payable, related parties	38		$ 55
Related party costs	77	$ 77
Impairment charge on minority owned joint venture investment	$ 71

ACCOUNTS RECEIVABLE, NET (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 2,737	$ 2,771
Less: Allowance for expected credit losses	(63)	(45)
Accounts receivable, net	2,674	2,726
Trade receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	2,377	2,444
Receivables from affiliates
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	191	143
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 169	$ 184

ACCOUNTS RECEIVABLE, NET - Accounts Receivable Rollforward (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 45
Current period provision for expected credit losses	12
Ending balance	63
Cumulative Effect, Period Of Adoption, Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 6

FIXED ASSETS, NET (Details) - USD ($) $ in Millions	3 Months Ended
FIXED ASSETS, NET (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 3,712		$ 3,758
Accumulated depreciation	(2,074)		(2,095)
Fixed assets, net	1,638		1,663
Depreciation	56	$ 54
Land
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 106		113
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Fixed assets, gross	$ 1,099		1,138
Machinery, tools and equipment
Property, Plant and Equipment [Line Items]
Fixed assets, gross	1,924		1,924
Rental assets
Property, Plant and Equipment [Line Items]
Fixed assets, gross	389		395
Other, including assets under construction
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 194		$ 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, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020 USD ($)
Goodwill [Roll Forward]
Goodwill - Beginning Balance	$ 9,884
Foreign currency translation	(236)
Goodwill - Ending Balance	9,648
Operating Segments \| HVAC
Goodwill [Roll Forward]
Goodwill - Beginning Balance	5,351
Foreign currency translation	(204)
Goodwill - Ending Balance	5,147
Operating Segments \| Refrigeration
Goodwill [Roll Forward]
Goodwill - Beginning Balance	1,228
Foreign currency translation	(50)
Goodwill - Ending Balance	1,178
Operating Segments \| Fire & Security
Goodwill [Roll Forward]
Goodwill - Beginning Balance	3,305
Foreign currency translation	18
Goodwill - Ending Balance	$ 3,323

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Finite and Indefinite-lived Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,418	$ 2,462
Accumulated Amortization	(1,901)	(1,913)
Indefinite-lived Intangible Assets [Line Items]
Total intangible assets, gross (excluding goodwill)	2,915	2,996
Trademarks and other
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	497	534
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1,448	1,479
Accumulated Amortization	(1,142)	(1,154)
Patents and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Amount	284	287
Accumulated Amortization	(201)	(201)
Monitoring lines
Finite-Lived Intangible Assets [Line Items]
Gross Amount	62	67
Accumulated Amortization	(49)	(52)
Service portfolios and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	624	629
Accumulated Amortization	$ (509)	$ (506)

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Future Amortization of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Business Combinations [Abstract]
Amortization of intangible assets	$ 25	$ 31

INVENTORIES, NET (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 335	$ 290
Work-in-process	147	120
Finished goods	1,074	922
Inventories, net	1,556	1,332
Inventory valuation reserves	$ 153	$ 152

BORROWINGS AND LINES OF CREDIT - Narrative (Details)			1 Months Ended	3 Months Ended
BORROWINGS AND LINES OF CREDIT - Narrative (Details)	Mar. 27, 2020 USD ($)	Feb. 10, 2020 USD ($)	Mar. 27, 2020 USD ($)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)	Feb. 27, 2020 USD ($) debt_series
Debt Instrument [Line Items]
Aggregate principal balance				$ 11,000,000,000.0
Issuance of long-term debt				10,961,000,000	$ 52,000,000
Net transfers to UTC			$ 10,900,000,000	10,948,000,000	89,000,000
Repayment of long-term debt				$ 34,000,000	1,000,000
Weighted average interest rate				2.70%
Interest expense, debt				$ 31,000,000
Interest payable				25,000,000
Debt issuance costs, net				5,000,000
Accumulated amortization, debt issuance costs				$ 700,000
Weighted Average
Debt Instrument [Line Items]
Average maturity of long-term debt				11 years
Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,750,000,000
Issuance of long-term debt	$ 1,750,000,000
Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal balance						$ 9,250,000,000
Series of notes issuance \| debt_series						6
Other Debt \| Project Financing Arrangements
Debt Instrument [Line Items]
Aggregate principal balance				$ 40,000,000	$ 52,000,000
Commercial Paper
Debt Instrument [Line Items]
Aggregate principal balance				$ 2,000,000,000.0
London Interbank Offered Rate (LIBOR) \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate		1.125%		1.125%
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 2,000,000,000.0
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 CREDIT - Long-term Debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 11,326	$ 319
Other (discounts and debt issuance costs)	(79)	0
Total debt	11,247	319
Current portion of long-term debt	218	237
Long-term debt, net of current portion	$ 11,029	82
Term Loan
Debt Instrument [Line Items]
Interest Rate	2.195%
Long-term debt, gross	$ 1,750	0
Debt instrument, basis rate	1.07%
Other Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 326	319
3-Year Fixed Rate Notes \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	1.923%
Long-term debt, gross	$ 500	0
5-Year Fixed Rate Notes \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.242%
Long-term debt, gross	$ 2,000	0
7-Year Fixed Rate Notes \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.493%
Long-term debt, gross	$ 1,250	0
10-Year Fixed Rate Notes \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.722%
Long-term debt, gross	$ 2,000	0
20-Year Fixed Rate Notes \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	3.377%
Long-term debt, gross	$ 1,500	0
30-Year Fixed Rate Notes \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	3.577%
Long-term debt, gross	$ 2,000	$ 0

BORROWINGS AND LINES OF CREDIT - Long-term Debt Maturity (Details) $ in Millions	Mar. 31, 2020 USD ($)
Debt Disclosure [Abstract]
2020	$ 218
2021	70
2022	28
2023	2,260
2024	0
Thereafter	$ 8,750

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Retirement Benefits [Abstract]
Defined benefit plans	$ 25	$ 22
Defined contribution plans	30	25
Multi-employer pension plans	$ 5	$ 5

EMPLOYEE BENEFIT PLANS - Pension Plan (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Retirement Benefits [Abstract]
Service cost	$ 8	$ 8
Interest cost	13	17
Expected return on plan assets	(35)	(39)
Amortization of prior service credit	1	1
Recognized actuarial net loss	5	2
Net settlement, curtailment and special termination benefit loss	1	0
Total net periodic benefit (income) cost	$ (7)	$ (11)

EMPLOYEE BENEFIT PLANS - Pension and Retirements Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Multiemployer Plans [Line Items]
Service cost	$ 8	$ 8
Non-service pension benefit	(17)	(39)
Total net periodic benefit (income) cost	(7)	(11)
UTC Sponsored Defined Benefit Plans
Multiemployer Plans [Line Items]
Service cost	0	4
Non-service pension benefit	(2)	(20)
Total net periodic benefit (income) cost	$ (2)	$ (16)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Summary of Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jan. 01, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period	$ 14,435	$ 14,269
Balance as of end of period	3,026	14,690
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period	(1,253)	(1,215)
Other comprehensive income before reclassifications, net	(488)	93
Amounts reclassified, pre-tax	6	3
Tax expense (benefit) reclassified	(1)
ASU 2018-02 adoption impact			$ (9)
Balance as of end of period	(1,736)	(1,128)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance as of beginning of period	(780)	(834)
Other comprehensive income before reclassifications, net	(488)	91
Amounts reclassified, pre-tax	0	0
Tax expense (benefit) reclassified	0
ASU 2018-02 adoption impact			0
Balance as of end of period	(1,268)	(743)
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	(473)	(381)
Other comprehensive income before reclassifications, net	0	2
Amounts reclassified, pre-tax	6	3
Tax expense (benefit) reclassified	(1)
ASU 2018-02 adoption impact			$ (9)
Balance as of end of period	$ (468)	$ (385)

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective income tax rate reconciliation, percent	65.40%	25.80%
Effective income tax rate reconciliation, change in deferred tax assets valuation allowance	$ 51
Effective income tax rate reconciliation, repatriation of foreign earnings, amount	46
Effective income tax rate reconciliation, nondeductible expense, impairment losses	71
Minimum
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	15
Maximum
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 30

RESTRUCTURING COSTS - Schedules (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	$ 5	$ 33
Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	1	5
Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	4	28
2020 Actions
Restructuring Reserve [Roll Forward]
Beginning balance	0
Net pre-tax restructuring costs	2
Utilization, foreign exchange and other costs	0
Ending balance	2		$ 0
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	4
Costs Incurred	(2)
Remaining Costs	2
2020 Actions \| Severance
Restructuring Reserve [Roll Forward]
Beginning balance	0
Net pre-tax restructuring costs	2
Utilization, foreign exchange and other costs	0
Ending balance	2		0
2020 Actions \| Facility Exit, Lease Termination and Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance	0
Net pre-tax restructuring costs	0
Utilization, foreign exchange and other costs	0
Ending balance	0		0
2020 Actions \| Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	1
2020 Actions \| Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	1
2019 Actions
Restructuring Reserve [Roll Forward]
Beginning balance	44
Net pre-tax restructuring costs	3	25
Utilization, foreign exchange and other costs	(15)
Ending balance	32		44
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs		120
Costs Incurred		(3)	(110)
Remaining Costs		7
2019 Actions \| Severance
Restructuring Reserve [Roll Forward]
Beginning balance	43
Net pre-tax restructuring costs	3
Utilization, foreign exchange and other costs	(14)
Ending balance	32		43
2019 Actions \| Facility Exit, Lease Termination and Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance	1
Net pre-tax restructuring costs	0
Utilization, foreign exchange and other costs	(1)
Ending balance	0		1
2019 Actions \| Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	0	2
2019 Actions \| Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	3	23
Operating Segments \| HVAC
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	2	17
Operating Segments \| Refrigeration
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	0	3
Operating Segments \| Fire & Security
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	3	13
Operating Segments \| 2020 Actions \| HVAC
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	3
Costs Incurred	(1)
Remaining Costs	2
Operating Segments \| 2020 Actions \| Refrigeration
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	0
Costs Incurred	0
Remaining Costs	0
Operating Segments \| 2020 Actions \| Fire & Security
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	1
Costs Incurred	(1)
Remaining Costs	0
Operating Segments \| 2019 Actions \| HVAC
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs		53
Costs Incurred		(1)	(51)
Remaining Costs		1
Operating Segments \| 2019 Actions \| Refrigeration
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs		16
Costs Incurred		0	(14)
Remaining Costs		2
Operating Segments \| 2019 Actions \| Fire & Security
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs		49
Costs Incurred		(2)	(43)
Remaining Costs		4
Eliminations and other \| 2020 Actions
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	0
Costs Incurred	0
Remaining Costs	$ 0
Eliminations and other \| 2019 Actions
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs		2
Costs Incurred		0	$ (2)
Remaining Costs		$ 0

RESTRUCTURING COSTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	$ 5	$ 33
2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	2
Restructuring reserve	2		$ 0
2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	3	25
Restructuring reserve	32		$ 44
2018 and Prior Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	0	8
Restructuring reserve	13	47
Cost of sales
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	1	5
Cost of sales \| 2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	1
Cost of sales \| 2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	0	2
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	4	28
Selling, general and administrative \| 2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	1
Selling, general and administrative \| 2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	$ 3	$ 23

GUARANTEES (Details) - USD ($) $ in Millions	3 Months Ended
GUARANTEES (Details) - USD ($) $ in Millions	Mar. 31, 2020	Mar. 31, 2019
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning balance	$ 488	$ 473
Warranties and performance guarantees issued	35	40
Settlements made	(39)	(36)
Other	(3)	0
Ending balance	$ 481	$ 477

FAIR VALUE MEASUREMENTS - Fair Value and Carrying Amounts Measured on a Recurring Basis (Details) - Fair Value, Recurring $ in Millions	Mar. 31, 2020 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	$ 23
Derivative liabilities	(10)
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0
Derivative liabilities	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	23
Derivative liabilities	(10)
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0
Derivative liabilities	$ 0

FAIR VALUES MEASUREMENTS - Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), carrying amount	$ 11,247	$ 319
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), carrying amount	11,241	313
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	10,634	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	8,565	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	$ 2,069	$ 313

FAIR VALUE MEASUREMENTS - Changes in Level 3 Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value as of January 1	$ 313	$ 291
Issuances	1,790	52
Settlements	(34)	(1)
Fair value as of March 31	$ 2,069	$ 342

CONTINGENT LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Accrual for environmental loss contingencies	$ 218	$ 217
Accrued environmental loss contingencies, current	13	14
Accrued environmental loss contingencies, noncurrent	205	203
Loss contingency, receivable	104	$ 104
Minimum
Other Commitments [Line Items]
Loss contingency accrual	255
Maximum
Other Commitments [Line Items]
Loss contingency accrual	$ 290

SEGMENT FINANCIAL DATA (Details) $ in Millions	3 Months Ended
SEGMENT FINANCIAL DATA (Details) $ in Millions	Mar. 31, 2020 USD ($) segment	Mar. 31, 2019 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	3
Net Sales	$ 3,888	$ 4,323
Operating profit	315	500
Product
Segment Reporting Information [Line Items]
Net Sales	3,147	3,566
Service
Segment Reporting Information [Line Items]
Net Sales	741	757
United States Operations
Segment Reporting Information [Line Items]
Net Sales	2,011	2,219
Europe
Segment Reporting Information [Line Items]
Net Sales	1,179	1,292
Asia Pacific
Segment Reporting Information [Line Items]
Net Sales	519	612
Other
Segment Reporting Information [Line Items]
Net Sales	179	200
Operating Segments
Segment Reporting Information [Line Items]
Net Sales	3,973	4,420
Operating profit	386	552
Operating Segments \| HVAC
Segment Reporting Information [Line Items]
Net Sales	1,959	2,168
Operating profit	167	293
Operating Segments \| HVAC \| Product
Segment Reporting Information [Line Items]
Net Sales	1,657	1,861
Operating Segments \| HVAC \| Service
Segment Reporting Information [Line Items]
Net Sales	302	307
Operating Segments \| Refrigeration
Segment Reporting Information [Line Items]
Net Sales	808	962
Operating profit	99	127
Operating Segments \| Refrigeration \| Product
Segment Reporting Information [Line Items]
Net Sales	713	867
Operating Segments \| Refrigeration \| Service
Segment Reporting Information [Line Items]
Net Sales	95	95
Operating Segments \| Fire & Security
Segment Reporting Information [Line Items]
Net Sales	1,206	1,290
Operating profit	120	132
Operating Segments \| Fire & Security \| Product
Segment Reporting Information [Line Items]
Net Sales	860	935
Operating Segments \| Fire & Security \| Service
Segment Reporting Information [Line Items]
Net Sales	346	355
Eliminations and other
Segment Reporting Information [Line Items]
Net Sales	(85)	(97)
Operating profit	(35)	(17)
General corporate expenses
Segment Reporting Information [Line Items]
Net Sales	0	0
Operating profit	$ (36)	$ (35)

SUBSEQUENT EVENT (Details) - Subsequent Event	Apr. 03, 2020 $ / shares shares
Subsequent Event [Line Items]
Common stock, shares, issued (in shares)	866,158,910
Common stock, par or stated value per share (in dollars per share) \| $ / shares	$ 0.01
Spinoff transaction, equity interests issued, shares, per one hundred ordinary predecessor shares (in shares)	1

Label	Element	Value
Accounting Standards Update 2018-02 [Member] \| AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (9,000,000)
Accounting Standards Update 2018-02 [Member] \| UTC Net Investment [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	9,000,000
Accounting Standards Update 2014-09 [Member] \| UTC Net Investment [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (4,000,000)