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Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2020
Cover page.
Entity Registrant Name	CARRIER GLOBAL CORPORATION
Entity Central Index Key	0001783180
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	S-4
Amendment Flag	false

Combined Statements of Operations (FY) - USD ($) $ in Millions	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net sales:
Net Sales	$ 5,002			$ 4,822			$ 12,862	$ 14,107	$ 18,608	$ 18,914	$ 17,814
Costs and expenses:
Research and development	100			102			292	302	401	400	364
Selling, general and administrative	681			702			2,010	2,066	2,761	2,689	2,584
Total costs and expenses	4,222			4,180			11,340	12,329	16,351	16,434	15,577
Equity method investment net earnings	62			78			148	198	236	220	218
Other income (expense), net	239			(91)			168	(42)	(2)	937	575
Operating profit	1,081			629			1,838	1,934	2,491	3,637	3,030
Non-service pension benefit	16			47			47	124	(154)	(168)	(139)
Interest (income) expense, net	(88)			3			(206)	23	(27)	(37)	115
Income from operations before income taxes	1,009			679			1,679	2,081	2,672	3,842	3,054
Income tax expense	261			175			560	380	517	1,073	1,787
Net income from operations	748	$ 269	$ 102	504	$ 794	$ 403	1,119	1,701	2,155	2,769	1,267
Less: Noncontrolling interest in subsidiaries' earnings	7			12			21	25	39	35	40
Net income attributable to Carrier Global Corporation	741			492			1,098	1,676	2,116	2,734	1,227
Product [Member]
Net sales:
Net Sales	4,193			3,998			10,615	11,703	15,360	15,674	14,775
Costs and expenses:
Cost of products and services sold	2,884			2,784			7,464	8,255	10,890	11,063	10,474
Service [Member]
Net sales:
Net Sales	809			824			2,247	2,404	3,248	3,240	3,039
Costs and expenses:
Cost of products and services sold	$ 557			$ 592			$ 1,574	$ 1,706	$ 2,299	$ 2,282	$ 2,155

Combined Statements of Comprehensive Income (FY) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Combined Statements of Comprehensive Income [Abstract]
Net income	$ 2,155	$ 2,769	$ 1,267
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments arising during period	48	(449)	771
Less: reclassification adjustments for gain on sale of an investment in a foreign entity recognized in Other income (expense), net	2	0	0
Foreign currency translation adjustments arising during period, after reclassification adjustments	50	(449)	771
Pension and postretirement benefit plans:
Net actuarial loss arising during period	(112)	(221)	(13)
Prior service (cost) credit arising during period	0	(9)	14
Amortization of actuarial loss and prior service cost	11	17	16
Other	3	21	(33)
Pension and postretirement benefit plans, before tax	(98)	(192)	(16)
Tax benefit	15	33	5
Pension and postretirement benefit plans, after tax	(83)	(159)	(11)
Unrealized loss on available-for-sale securities:
Unrealized holding loss arising during period	0	0	(31)
Reclassification adjustments for gain on sale of investment included in Other income (expense), net	0	0	(394)
Unrealized loss on available-for-sale securities, after reclassification adjustments, before tax	0	0	(425)
Tax benefit	0	0	163
Unrealized loss on available-for-sale securities, after adjustment, tax	0	0	(262)
Change in unrealized cash flow hedging:
Unrealized cash flow hedging gain arising during period	0	0	2
Loss reclassified into Product sales	0	2	1
Unrealized cash flow hedge gain arising during period, after reclassification	0	2	3
Other comprehensive (loss) income, net of tax	(33)	(606)	501
Comprehensive income	2,122	2,163	1,768
Less: Comprehensive income attributable to noncontrolling interest	(35)	(27)	(74)
Comprehensive income attributable to Carrier Global Corporation	$ 2,087	$ 2,136	$ 1,694

Combined Balance Sheets (FY) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 952	$ 1,129
Accounts receivable (net of allowance for doubtful accounts of $45 and $141) (Notes 5 and 16)	2,726	2,673
Contract assets, current	622	566
Inventories, net	1,332	1,363
Other assets, current	327	378
Total Current Assets	5,959	6,109
Future income tax benefits	500	398
Operating lease right-of-use assets	832	0
Fixed assets, net	1,663	1,653
Intangible assets, net	1,083	1,214
Goodwill	9,884	9,849
Pension and postretirement assets	490	441
Equity method investments	1,739	1,770
Other assets	256	303
Total Assets	22,406	21,737
Liabilities and Equity
Accounts payable (Notes 5 and 16)	1,701	1,944
Accrued liabilities	2,325	2,074
Accrued liabilities	2,088
Contract liabilities, current	443	448
Current portion of long-term debt	237
Total Current Liabilities	4,469	4,466
Long-term debt	82
Operating lease liabilities	682	0
Future pension and postretirement benefit obligations	456	419
Future income tax obligations	1,099	1,280
Other long-term liabilities	1,265	1,303
Other long-term liabilities	1,183
Total Liabilities	7,971	7,468
Commitments and contingent liabilities (Note 20)
UTC Net Investment:
UTC Net investment	15,355	15,132
Accumulated other comprehensive loss	(1,253)	(1,215)
Total UTC Net Investment	14,102	13,917
Common stock, par value $0.01; 4,000,000,000 shares authorized; 866,687,269 shares issued and outstanding as of September 30, 2020	0
Additional paid-in capital	0
Retained earnings	0
Accumulated other comprehensive loss	(1,253)	(1,215)
Noncontrolling interest	333	352
Total Equity	14,435	14,269
Total Liabilities and Equity	$ 22,406	$ 21,737

Combined Balance Sheets (Parenthetical) (FY) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Assets
Accounts receivable, allowance for doubtful accounts	$ 45	$ 141

Combined Statements of Changes in Equity (FY) - USD ($) $ in Millions	UTC Net Investment [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total UTC Net Investment [Member]	Noncontrolling Interest [Member]	Total	Cumulative Effect, Period of Adoption, Adjustment [Member] UTC Net Investment [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Total UTC Net Investment [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance at Dec. 31, 2016	$ 15,696	$ (1,084)	$ 14,612	$ 348	$ 14,960
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,227	0	1,227	40	1,267
Redeemable noncontrolling interest in subsidiaries' earnings	0	0	0	(9)	(9)
Other comprehensive (loss) income, net of tax	0	467	467	11	478
Other comprehensive (loss) income, net of tax					501
Sale of subsidiary shares from noncontrolling interest	4	0	4	0	4
Dividends attributable to noncontrolling interest	0	0	0	(31)	(31)
Acquisition of noncontrolling interest	0	0	0	12	12
Redeemable noncontrolling interest fair value adjustment	(81)	0	(81)	0	(81)
Net transfers to UTC	(1,816)	0	(1,816)	0	(1,816)
Balance at Dec. 31, 2017	15,030	(617)	14,413	371	14,784
Balance (Adoption of ASU 2016-16 [Member]) at Dec. 31, 2017						$ 9	$ 0	$ 9	$ 0	$ 9
Balance at Dec. 31, 2016					177
Increase (Decrease) in Redeemable Noncontrolling Interest [Roll Forward]
Redeemable noncontrolling interest in subsidiaries' earnings					9
Other comprehensive income, net of tax					23
Purchase of subsidiary shares from noncontrolling interest					(286)
Dividends attributable to noncontrolling interest					(4)
Redeemable noncontrolling interest fair value adjustment					81
Balance at Dec. 31, 2017					0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,734	0	2,734	35	2,769
Other comprehensive (loss) income, net of tax	0	(598)	(598)	(8)	(606)
Dividends attributable to noncontrolling interest	0	0	0	(46)	(46)
Net transfers to UTC	(2,641)	0	(2,641)	0	(2,641)
Balance at Dec. 31, 2018	15,132	(1,215)	13,917	352	14,269	9	(9)			0
Balance (Adoption of ASU 2018-02 [Member]) at Dec. 31, 2018						9	(9)	0	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	400			3	403
Other comprehensive (loss) income, net of tax		96		5	101
Dividends attributable to noncontrolling interest				(2)	(2)
Net transfers to UTC	81				81
Balance at Mar. 31, 2019	15,460	(1,128)		358	14,690
Balance at Dec. 31, 2018	15,132	(1,215)	13,917	352	14,269	9	(9)			0
Balance (Adoption of ASU 2018-02 [Member]) at Dec. 31, 2018						9	(9)	0	0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					1,701
Other comprehensive (loss) income, net of tax					(252)
Balance at Sep. 30, 2019	15,747	(1,474)		371	14,644		(9)
Balance at Dec. 31, 2018	15,132	(1,215)	13,917	352	14,269	9	(9)			0
Balance (Adoption of ASU 2018-02 [Member]) at Dec. 31, 2018						9	(9)	$ 0	$ 0	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,116	0	2,116	39	2,155
Other comprehensive (loss) income, net of tax	0	(29)	(29)	(4)	(33)
Dividends attributable to noncontrolling interest	0	0	0	(28)	(28)
Disposition of noncontrolling interest	0	0	0	(26)	(26)
Net transfers to UTC	(1,902)	0	(1,902)	0	(1,902)
Balance at Dec. 31, 2019	15,355	(1,253)	14,102	333	14,435	(4)				(4)
Balance at Mar. 31, 2019	15,460	(1,128)		358	14,690
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	784			10	794
Other comprehensive (loss) income, net of tax		(74)		(3)	(77)
Dividends attributable to noncontrolling interest				(2)	(2)
Net transfers to UTC	445				445
Balance at Jun. 30, 2019	15,799	(1,202)		363	14,960
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	492			12	504
Other comprehensive (loss) income, net of tax		(272)		(4)	(276)
Net transfers to UTC	544				544
Balance at Sep. 30, 2019	15,747	(1,474)		371	14,644		$ (9)
Balance at Dec. 31, 2019	15,355	(1,253)	14,102	333	14,435	(4)				(4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	96			6	102
Other comprehensive (loss) income, net of tax		(483)		(2)	(485)
Dividends attributable to noncontrolling interest				(8)	(8)
Net transfers to UTC	11,014				11,014
Balance at Mar. 31, 2020	4,433	(1,736)		329	3,026
Balance at Dec. 31, 2019	15,355	(1,253)	$ 14,102	333	14,435	$ (4)				$ (4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					1,119
Other comprehensive (loss) income, net of tax					86
Net transfers to UTC	(780)
Balance at Sep. 30, 2020	0	(1,172)		341	5,437
Balance at Mar. 31, 2020	4,433	(1,736)		329	3,026
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				8	269
Other comprehensive (loss) income, net of tax		257		1	258
Net transfers to UTC	(859)				(859)
Balance at Jun. 30, 2020	0	(1,479)		338	4,366
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				7	748
Other comprehensive (loss) income, net of tax		307		5	312
Dividends attributable to noncontrolling interest				(9)	(9)
Balance at Sep. 30, 2020	$ 0	$ (1,172)		$ 341	$ 5,437

Combined Statements of Cash Flows (FY) $ in Millions	12 Months Ended
Combined Statements of Cash Flows (FY) $ in Millions	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Operating Activities:
Net income	$ 2,155	$ 2,769	$ 1,267
Adjustments to reconcile net income to net cash flows provided by operating activities, net of acquisitions and dispositions:
Depreciation and amortization	335	357	372
Deferred income tax (benefit) provision	(122)	133	73
Impact from U.S. tax reform	0	0	799
Gain on sale of Taylor	0	(799)	0
Gain on sale of available-for-sale securities	0	0	(418)
Stock compensation cost	52	44	34
Equity method investment net earnings	(236)	(220)	(218)
Distributions from equity method investments	158	143	142
Impairment of equity method investment	108	0	0
Change in:
Accounts receivable, net	(129)	(211)	159
Contract assets, current	23	(67)	0
Inventories, net	(2)	(151)	(102)
Other assets, current	17	(7)	(21)
Accounts payable and accrued liabilities	(311)	88	192
Contract liabilities, current	(18)	24	0
Pension contributions	(36)	(45)	(44)
Other operating activities, net	8	(3)	(137)
Net cash flows provided by operating activities	2,002	2,055	2,098
Investing Activities:
Capital expenditures	(243)	(263)	(326)
Investments in businesses, net of cash acquired (Note 9)	0	(310)	(176)
Dispositions of businesses (Note 9)	6	1,032	52
Proceeds from sale of investments in Watsco, Inc.	0	0	596
Other investing activities, net	24	(44)	125
Net cash flows provided by (used in) investing activities	(213)	415	271
Financing Activities:
Increase (decrease) in short-term borrowings, net	25	3	(8)
Issuance of project financing obligations	107	117	99
Repayment of project financing obligations	(138)	0	(103)
Purchase of shares from redeemable noncontrolling interest	0	0	(286)
Dividends paid to non-controlling interest	(28)	(46)	(31)
Net transfers to UTC	(1,954)	(2,685)	(1,850)
Other financing activities, net	21	(16)	(14)
Net cash flows provided by (used in) financing activities	(1,967)	(2,627)	(2,193)
Effect of foreign exchange rates on cash and cash equivalents	1	(39)	64
Net (decrease) increase in cash, cash equivalents and restricted cash	(177)	(196)	240
Cash, cash equivalents and restricted cash, beginning of year	1,134	1,330	1,090
Cash, cash equivalents and restricted cash, end of year	957	1,134	1,330
Less: restricted cash	5	5	6
Cash and cash equivalents, end of year	952	1,129	1,324
Supplemental Cash Flow Information:
Interest paid, net of amounts capitalized	28	16	14
Interest paid - related party	55	59	202
Income taxes paid - related party	475	649	608
Income taxes paid, net of refunds	$ 284	$ 276	$ 309

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Q3) - USD ($) shares in Millions, $ in Millions	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net sales
Net Sales	$ 5,002			$ 4,822			$ 12,862	$ 14,107	$ 18,608	$ 18,914	$ 17,814
Costs and expenses
Research and development	100			102			292	302	401	400	364
Selling, general and administrative	681			702			2,010	2,066	2,761	2,689	2,584
Total costs and expenses	4,222			4,180			11,340	12,329	16,351	16,434	15,577
Equity method investment net earnings	62			78			148	198	236	220	218
Other income (expense), net	239			(91)			168	(42)	(2)	937	575
Operating profit	1,081			629			1,838	1,934	2,491	3,637	3,030
Non-service pension benefit	16			47			47	124	(154)	(168)	(139)
Interest (expense) income, net	(88)			3			(206)	23	(27)	(37)	115
Income from operations before income taxes	1,009			679			1,679	2,081	2,672	3,842	3,054
Income tax expense	261			175			560	380	517	1,073	1,787
Net income from operations	748	$ 269	$ 102	504	$ 794	$ 403	1,119	1,701	2,155	2,769	1,267
Less: Non-controlling interest subsidiaries' earnings	7			12			21	25	39	35	40
Net income attributable to Carrier Global Corporation	$ 741			$ 492			$ 1,098	$ 1,676	2,116	2,734	1,227
Earnings per share (Note 3)
Basic (in dollars per share)	$ 0.86			$ 0.57			$ 1.27	$ 1.94
Diluted (in dollars per share)	$ 0.84			$ 0.57			$ 1.25	$ 1.94
Weighted-average number of shares outstanding (Note 3)
Basic (in shares)	866.4			866.2			866.3	866.2
Diluted (in shares)	881.5			866.2			876.2	866.2
Product
Net sales
Net Sales	$ 4,193			$ 3,998			$ 10,615	$ 11,703	15,360	15,674	14,775
Costs and expenses
Cost of products and services sold	2,884			2,784			7,464	8,255	10,890	11,063	10,474
Service
Net sales
Net Sales	809			824			2,247	2,404	3,248	3,240	3,039
Costs and expenses
Cost of products and services sold	$ 557			$ 592			$ 1,574	$ 1,706	$ 2,299	$ 2,282	$ 2,155

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Q3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Combined Statements of Comprehensive Income [Abstract]
Net income	$ 748	$ 504	$ 1,119	$ 1,701
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments arising during period	307	(278)	68	(263)
Pension and post-retirement benefit plan adjustments	5	2	18	11
Other comprehensive (loss) income, net of tax	312	(276)	86	(252)
Comprehensive income	1,060	228	1,205	1,449
Less: Comprehensive income attributable to non-controlling interest	(12)	(8)	(25)	(23)
Comprehensive income attributable to Carrier Global Corporation	$ 1,048	$ 220	$ 1,180	$ 1,426

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

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

+ References

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEET (Q3) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 3,848			$ 952	$ 862			$ 1,129	$ 1,324
Accounts receivable, net (Note 5 and Note 6)	2,872			2,726				2,673
Contract assets, current	753			622				566
Inventories, net	1,581			1,332				1,363
Other assets, current	280			327				378	341
Total Current Assets	9,334			5,959				6,109	6,000
Future income tax benefits	439			500				398
Fixed assets, net	1,676			1,663				1,653	1,684
Operating lease right-of-use assets	823			832				0
Intangible assets, net	1,024			1,083				1,214
Goodwill	9,906			9,884				9,849	10,065
Pension and post-retirement assets	574			490				441
Equity method investments	1,696			1,739				1,770
Other assets	256			256				303
Total Assets	25,728			22,406				21,737
Current liabilities:
Accounts payable (Note 5)	2,019			1,701				1,944
AccruedLiabilitiesCurrent	2,445			2,088
Contract liabilities, current	495			443				448
Current portion of long-term debt	223			237
Total Current Liabilities	5,182			4,469				4,466
Long-term debt	11,751			82
Future pension and post-retirement obligations	473			456				419
Future income tax obligations (Note 5 and Note 14)	471			1,099				1,280
Operating lease liabilities	676			682				0
Other long-term liabilities (Note 5)	1,738			1,183
Total Liabilities	20,291			7,971				7,468
Commitments and contingent liabilities (Note 18)
Equity
UTC Net investment	0			15,355				15,132
Common stock, par value $0.01; 4,000,000,000 shares authorized; 866,687,269 shares issued and outstanding as of September 30, 2020	9			0
Additional paid-in capital	5,327			0
Retained earnings	932			0
Accumulated other comprehensive loss	(1,172)			(1,253)				(1,215)
Non-controlling interest	341			333				352
Total Equity	5,437	$ 4,366	$ 3,026	14,435	$ 14,644	$ 14,960	$ 14,690	14,269	$ 14,784	$ 14,960
Total Liabilities and Equity	$ 25,728			$ 22,406				$ 21,737

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) (Q3)	Sep. 30, 2020 $ / shares shares
Equity
Common stock, par or stated value per share (in dollars per share) \| $ / shares	$ 0.01
Common stock, shares authorized (in shares)	4,000,000,000
Common stock, shares, issued (in shares)	866,687,269
Common stock, shares, outstanding (in shares)	866,687,269

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Q3) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Activities
Net income	$ 1,119	$ 1,701	$ 2,155	$ 2,769	$ 1,267
Adjustments to reconcile net income from operations to net cash flows provided by operating activities, net of acquisitions and dispositions
Depreciation and amortization	241	251	335	357	372
Deferred income tax provision	121	(109)	(122)	133	73
Stock compensation costs	56	40	52	44	34
Equity method investment net earnings	(148)	(198)	(236)	(220)	(218)
Distributions from equity method investments	88	80	158	143	142
Impairment charge on minority-owned joint venture investments	72	108	108	0	0
Gain on sale of investment	(252)	0
Changes in operating assets and liabilities
Accounts receivable, net	(117)	(205)	(129)	(211)	159
Contract assets, current	(120)	(50)	23	(67)	0
Inventories, net	(237)	(269)	(2)	(151)	(102)
Other assets, current	52	50	17	(7)	(21)
Accounts payable and accrued liabilities	529	(198)	(311)	88	192
Contract liabilities, current	44	(10)	(18)	24	0
Defined benefit plan contributions	(29)	(29)	(36)	(45)	(44)
Other operating activities, net	74	(173)	8	(3)	(137)
Net cash flows provided by operating activities	1,493	989	2,002	2,055	2,098
Investing Activities
Capital expenditures	(151)	(139)	(243)	(263)	(326)
Proceeds on sale of investment	300	0	0	0	596
Receipt from settlement of derivative contracts	67	0
Other investing activities, net	14	(11)	24	(44)	125
Net cash flows provided by (used in) investing activities	230	(150)	(213)	415	271
Financing Activities
(Decrease) increase in short-term borrowings, net	(22)	43	25	3	(8)
Issuance of long-term debt	11,762	106	107	117	99
Repayment of long-term debt	(124)	(98)	(138)	0	(103)
Dividends paid on common stock	(70)	0
Dividends paid to non-controlling interest	(17)	(4)	(28)	(46)	(31)
Net transfers to UTC	(10,359)	(1,111)	(1,954)	(2,685)	(1,850)
Other financing activities, net	3	(31)	21	(16)	(14)
Net cash flows provided by (used in) financing activities	1,173	(1,095)	(1,967)	(2,627)	(2,193)
Effect of Exchange Rate on Cash and Cash Equivalents [Abstract]
Effect of foreign exchange rate changes on cash and cash equivalents	0	(12)	1	(39)	64
Net (decrease) increase in cash, cash equivalents and restricted cash	2,896	(268)	(177)	(196)	240
Cash, cash equivalents and restricted cash, beginning of year	957	1,134	1,134	1,330	1,090
Cash, cash equivalents and restricted cash, end of year	3,853	866	957	1,134	1,330
Less: restricted cash	5	4	5	5	6
Cash and cash equivalents, end of period	$ 3,848	$ 862	$ 952	$ 1,129	$ 1,324

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Q3) - USD ($) $ in Millions	Total	Cumulative Effect, Period Of Adoption, Adjustment	UTC Net Investment	UTC Net Investment Cumulative Effect, Period Of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Cumulative Effect, Period Of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Retained Earnings	Non-Controlling Interest
Balance at Dec. 31, 2016	$ 14,960		$ 15,696		$ (1,084)					$ 348
Net income	1,267		1,227		0					40
Other comprehensive (loss) income, net of tax	501
Dividends attributable to noncontrolling interest	(31)		0		0					(31)
Net transfers (to) from UTC	1,816		1,816		0					0
Balance at Dec. 31, 2017	14,784		15,030		(617)					371
Net income	2,769		2,734		0					35
Other comprehensive (loss) income, net of tax	(606)		0		(598)					(8)
Dividends attributable to noncontrolling interest	(46)		0		0					(46)
Net transfers (to) from UTC	2,641		2,641		0					0
Balance at Dec. 31, 2018	14,269	$ 0	15,132	$ 9	(1,215)	$ (9)	$ 0	$ 0	$ 0	352
Net income	403		400							3
Other comprehensive (loss) income, net of tax	101				96					5
Dividends attributable to noncontrolling interest	(2)									(2)
Net transfers (to) from UTC	(81)		(81)
Balance at Mar. 31, 2019	14,690		15,460		(1,128)		0	0	0	358
Balance at Dec. 31, 2018	14,269	0	15,132	9	(1,215)	(9)	0	0	0	352
Net income	1,701
Other comprehensive (loss) income, net of tax	(252)
Balance at Sep. 30, 2019	14,644		15,747		(1,474)	(9)	0	0	0	371
Balance at Dec. 31, 2018	14,269	0	15,132	9	(1,215)	(9)	0	0	0	352
Net income	2,155		2,116		0					39
Other comprehensive (loss) income, net of tax	(33)		0		(29)					(4)
Dividends attributable to noncontrolling interest	(28)		0		0					(28)
Net transfers (to) from UTC	1,902		1,902		0					0
Balance at Dec. 31, 2019	14,435	(4)	15,355	(4)	(1,253)		0	0	0	333
Balance at Mar. 31, 2019	14,690		15,460		(1,128)		0	0	0	358
Net income	794		784							10
Other comprehensive (loss) income, net of tax	(77)				(74)					(3)
Dividends attributable to noncontrolling interest	(2)									(2)
Net transfers (to) from UTC	(445)		(445)
Balance at Jun. 30, 2019	14,960		15,799		(1,202)		0	0	0	363
Net income	504		492							12
Other comprehensive (loss) income, net of tax	(276)				(272)					(4)
Net transfers (to) from UTC	(544)		(544)
Balance at Sep. 30, 2019	14,644		15,747		(1,474)	$ (9)	0	0	0	371
Balance at Dec. 31, 2019	14,435	(4)	15,355	(4)	(1,253)		0	0	0	333
Net income	102		96							6
Other comprehensive (loss) income, net of tax	(485)				(483)					(2)
Dividends attributable to noncontrolling interest	(8)									(8)
Net transfers (to) from UTC	(11,014)		(11,014)
Balance at Mar. 31, 2020	3,026		4,433		(1,736)		0	0	0	329
Balance at Dec. 31, 2019	14,435	$ (4)	15,355	$ (4)	(1,253)		0	0	0	333
Net income	1,119
Other comprehensive (loss) income, net of tax	86
Net transfers (to) from UTC			780
Balance at Sep. 30, 2020	5,437		0		(1,172)		9	5,327	932	341
Balance at Mar. 31, 2020	3,026		4,433		(1,736)		0	0	0	329
Net income	269								261	8
Other comprehensive (loss) income, net of tax	258				257					1
Dividends declared on Common Stock	(70)								(70)
Common stock issued under employee plans	24							24
Net transfers (to) from UTC	859		859
Reclassification of UTC Net investment in connection with Separation	0		(5,292)				9	5,283
Balance at Jun. 30, 2020	4,366		0		(1,479)		9	5,307	191	338
Net income	748								741	7
Other comprehensive (loss) income, net of tax	312				307					5
Common stock issued under employee plans	20							20
Dividends attributable to noncontrolling interest	(9)									(9)
Balance at Sep. 30, 2020	$ 5,437		$ 0		$ (1,172)		$ 9	$ 5,327	$ 932	$ 341

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

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

+ References

+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

CONDENSED CONSOLIDATED STATEMENT OF CHANGES EQUITY (Parenthetical) (Q3)	3 Months Ended
	Jun. 30, 2020 $ / shares
Combined Statements of Changes in Equity [Abstract]
Common stock dividends, declared (in dollars per share)	$ 0.08

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

BASIS OF PRESENTATION (FY)	9 Months Ended	12 Months Ended
BASIS OF PRESENTATION (FY)	Sep. 30, 2020	Dec. 31, 2019
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION	NOTE 2: BASIS OF PRESENTATION The Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. All significant intra-company accounts and transactions have been eliminated in the preparation of the Unaudited Condensed Consolidated Financial Statements. Related party transactions between the Company and its equity method investees have not been eliminated. Non-controlling interest represents a non-controlling investor's interests in the results of subsidiaries that we control and consolidate. Certain immaterial amounts presented in the Information Statement have been reclassified to conform to the current period presentation, including the reclassification of the Current portion of long-term debt from Accrued liabilities for 2019 on the accompanying Unaudited Condensed Consolidated Balance Sheet. The Company's financial statements for periods prior to the Separation and the Distribution are prepared on a "carve-out" basis, as described below. The Company's financial statements for the period from April 3, 2020 through September 30, 2020 are consolidated financial statements based on the reported results of Carrier as a stand-alone company. Basis of Presentation Prior to the Separation and the Distribution For the period prior to the Separation and the Distribution, the Unaudited Condensed Consolidated Financial Statements reflect the Company's financial position, results of operations and cash flows for the periods presented, which were historically managed by UTC. For the periods presented prior to the Separation and the Distribution, the Unaudited Condensed Consolidated Financial Statements are derived from UTC's consolidated financial statements and accounting records. The Unaudited Condensed Consolidated Statement of Operations includes all revenues and costs directly attributable to Carrier, including costs for facilities, functions and services used by Carrier. Prior to the Separation, costs for certain functions and services performed by UTC were directly charged to Carrier based on specific identification when possible or based on a reasonable allocation driver such as net sales, headcount, proportionate usage or other allocation methods. The results of operations include allocations of costs for administrative functions and services performed on behalf of Carrier by centralized groups within UTC and of certain pension and other post-retirement benefit costs (see Note 5 – Related Parties for a description of the allocation methodologies). All charges and allocations for facilities, functions and services performed by UTC have been deemed settled in cash by Carrier to UTC in the period in which the cost was recorded in the Unaudited Condensed Consolidated Statement of Operations. Prior to the Separation, UTC used a centralized approach to cash management and the financing of its operations. Accordingly, none of UTC's cash, third party debt or related interest expense has been allocated to Carrier in the Unaudited Condensed Consolidated Financial Statements for the period prior to the Separation. However, cash balances primarily associated with certain foreign entities that did not participate in UTC’s cash management program have been included in the Unaudited Condensed Consolidated Financial Statements for periods prior to the Separation. Transactions between UTC and Carrier are deemed settled immediately through UTC’s Net investment, other than those transactions which have been historically cash-settled and which are reflected in the Unaudited Condensed Consolidated Balance Sheet within Accounts receivable, net and Accounts payable. The net effect of the deemed settled transactions is reflected in the Unaudited Condensed Consolidated Statement of Cash Flows as Net transfers to UTC within financing activities and in the Unaudited Condensed Consolidated Balance Sheet as UTC’s Net investment (see Note 5 – Related Parties for additional information). All of the allocations and estimates in the Unaudited Condensed Consolidated Financial Statements are based on assumptions that management believes are reasonable. However, for the periods prior to the Separation, the Unaudited Condensed Consolidated Financial Statements may not be indicative of the Company's future financial position, results of operations and cash flows or if the Company had been a separate, stand-alone entity during the periods presented. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU and its related amendments (collectively, the "Credit Loss Standard") modified the credit loss model to utilize an expected loss methodology in place of an incurred loss methodology for financial instruments, including trade receivables, contract assets, long-term receivables and off-balance sheet credit exposures. The Credit Loss Standard requires consideration of a broader range of information to estimate expected credit losses, including historical information, current conditions and a reasonable forecast period. This ASU requires that the statement of operations reflect the measurement of credit losses for newly recognized financial assets as well as an expected increase or decrease of expected credit losses that have taken place during the period, which may result in earlier recognition. The Company adopted the Credit Loss Standard effective January 1, 2020, utilizing a modified retrospective approach and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Under this ASU, a goodwill impairment is calculated as the difference between the carrying amount of the reporting unit and its fair value, but not to exceed the carrying amount of the goodwill allocated to that reporting unit. Additionally, this ASU requires the same impairment testing methodology for all reporting units, even those with a zero or negative carrying amount, and requires an entity to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. This ASU removes the disclosure requirements for the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. Recently Issued SEC Rules In May 2020, the SEC issued Final Rule Release No. 33-10786, which amends the financial statement requirements for acquisitions and dispositions of businesses and related pro forma financial information required under SEC Regulation S-X, Rule 3-05. The final rule modifies the significance test required in SEC Regulation S-X, Rule 1-02(w) by raising the significance threshold for reporting dispositions of a business from 10% to 20% and by modifying the calculation of the investment and income tests. In accordance with Rules 3-09 or 4-08(g), the revised income test will apply to the evaluation of equity method investments for significance. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning after December 31, 2020. In August 2020, the SEC issued Final Rule Release No. 33-10825, which amends certain disclosure requirements required by Regulation S-K relating to the description of business (Item 101), legal proceedings (Item 103) and risk factors (Item 105). The amendments to Item 101 will, among other things, allow the Company to provide updates to the general development of the business based on materiality, if it incorporates by reference a full discussion from a previously filed registration statement or report. The amendment also requires disclosure of the registrant’s human capital resources to the extent such disclosures would be material to an understanding of the registrant’s business. The amendments to Item 103 will, among other things, increase the quantitative threshold for disclosing certain governmental environmental proceedings and the amendments to Item 105 will, among other things, require a risk factor summary where the risk factor section itself is longer than 15 pages. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning December 31, 2020.	NOTE 2: BASIS OF PRESENTATION The Business has historically operated as a part of UTC; consequently, stand-alone financial statements have not historically been prepared for the Business. The accompanying Combined Financial Statements have been prepared from UTC’s historical accounting records and are presented on a stand-alone basis as if the Business’ operations had been conducted independently from UTC. These Combined Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Combined Statements 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 centralized UTC are directly charged to Carrier based on specific identification when possible or based on a reasonable allocation driver such as net sales, headcount, 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 organizations have been deemed settled in cash by Carrier to UTC in the period in which the cost was recorded in the Combined Statements of Operations. Current and deferred income taxes have been determined based on the stand-alone results of Carrier. However, because the Business filed as part of UTC’s tax group in certain jurisdictions, the Business’ actual tax balances may differ from those reported. The Business’ portion of its domestic and certain income taxes for jurisdictions outside the United States are deemed to have been settled in the period the related tax expense was recorded. UTC uses 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 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 Combined Financial Statements. Transactions between UTC and Carrier are deemed to have been settled immediately through UTC’s Net Investment, other than those transactions which have historically been cash-settled and which are reflected in the Combined Balance Sheets within Accounts receivable (see Note 6 – Accounts Receivable, Net and Note 5 – Related Parties for additional information). The net effect of the deemed settled transactions is reflected in the Combined Statements of Cash Flows as Net transfers to UTC within financing activities and in the Combined Balance Sheets as UTC’s Net Investment (see Note 5 – Related Parties for additional information). All intracompany accounts and transactions within the Business have been eliminated in the preparation of the Combined Financial Statements. The Combined Financial Statements of the Business include assets and liabilities that have been determined to be specifically identifiable or otherwise attributable to the Business. All of the allocations and estimates in the Combined Financial Statements are based on assumptions that management believes are reasonable. However, the Combined Financial Statements included herein may not be indicative of the financial position, results of operations and cash flows of the Business in the future, or if the Business had been a separate, stand-alone entity during the years presented. The noncontrolling interest represents the noncontrolling investors’ interests in the results of subsidiaries that we control and combine.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (FY)

12 Months Ended

Dec. 31, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Combination. The Combined Financial Statements have been prepared on a stand-alone basis and include the accounts of Carrier and its wholly-owned subsidiaries, as well as entities in which Carrier has a controlling financial interest.

Use of Estimates. The preparation of the Combined Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities. In addition, estimates and assumptions may impact the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents. Cash and cash equivalents includes cash on hand, demand deposits and short-term cash investments that are highly liquid in nature and have original maturities of three months or less. The Business participates in UTC’s centralized cash management and financing programs (see Note 5 – Related Parties for additional information). The cash reflected on the Combined Balance Sheets represents cash on hand at certain foreign entities that do not participate in the centralized cash management program and are specifically identifiable to the Business.

On occasion, the Business is required to maintain cash deposits with certain banks with respect to contractual or other legal obligations. As of December 31, 2019 and 2018, restricted cash of approximately $5 million and $5 million, respectively, is included in Other assets, current on the Combined Balance Sheets.

Accounts Receivable. Accounts receivable consist of billed and unbilled amounts. Billed amounts include invoices presented to customers that have not been paid. Unbilled receivables represent revenues that have been earned but are not currently billable to the customer under the terms of the contract because billings are based on milestones or other triggering events. These items are expected to be billed and collected in the ordinary course of business. Receivables are recognized net of an allowance for doubtful accounts. The Business primarily estimates reserves for losses on receivables based on historical experience and by specific identification based on an assessment of a customer’s ability to make required payments. Upon adoption of Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers, and its related amendments (collectively, the “New Revenue Standard”) on January 1, 2018, the majority of unbilled receivables have been reclassified to Contract assets as described below. Unbilled receivables where the Business has an unconditional right to payment are included in Accounts receivable.

Contract Assets and Liabilities. Contract assets and liabilities represent the difference in the timing of revenue recognition from receipt of cash from the customers. Contract assets reflect revenue recognized and performance obligations satisfied in advance of customer billing. Performance obligations partially satisfied in advance of customer billings are included in Contract assets; prior to the adoption of the New Revenue Standard, these amounts were included as unbilled receivables in Accounts receivable.

Contract liabilities relate to payments received in advance of the satisfaction of performance obligations under the contract. The Business receives payments from customers based on the terms established in the contracts. See Note 4 – Revenue Recognition for further discussion of contract assets and liabilities.

Inventories. Inventories are stated at the lower of cost or estimated realizable value and are primarily based on first-in, first-out (“FIFO”) or average cost methods, which approximate current replacement cost; however, certain Carrier entities use the last-in, first-out (“LIFO”) method. If inventories that were valued using the LIFO method had been valued under the FIFO method, they would have been higher by $120 million and $113 million at December 31, 2019 and 2018, respectively. At December 31, 2019 and 2018, approximately 32% and 31%, respectively, of all inventory utilized the LIFO method.

Valuation reserves for excess, obsolete and slow-moving inventory are estimated by comparing the inventory levels of individual parts and products to both future sales forecasts or production requirements and historical usage rates in order to identify inventory where the resale value or replacement value is less than the cost of the inventory. Other factors that management considers in determining the adequacy of these reserves include whether the part meets current specifications and whether it can be substituted for a part currently being sold or used as a service part, and overall market conditions and other inventory management initiatives.

Fair Value of Financial Instruments. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon their own market assumptions. The fair value hierarchy consists of the following three levels:

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Level I – Quoted prices for identical instruments in active markets.

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Level II – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

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Level III – Instruments whose significant value drivers are unobservable.

The carrying amount of trade receivables, accounts payable and accrued expenses approximates fair value due to the short maturity (less than one year) of the instruments.

Business Combinations. The Business accounts for transactions that are classified as business combinations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 805: Business Combinations. Once a business is acquired, the fair value of the identifiable assets acquired and liabilities assumed are determined with the excess cost recorded to goodwill. As required, preliminary fair values are determined once a business is acquired, with the final determination of the fair values being completed within the one-year measurement period from the date of acquisition.

Equity Method Investments. Investments in which Carrier has the ability to exercise significant influence, but do not control, are accounted for under the equity method of accounting and are presented on the Combined Balance Sheets. Under this method of accounting, the Business’ share of the net earnings or losses of the investee is presented within Operating profit on the Combined Statements of Operations since the activities of the investee are closely aligned with the operations of the Business. The Business evaluates its equity method investments whenever events or changes in circumstance indicate that the carrying amounts of such investments may be impaired. If a decline in the value of an equity method investment is determined to be other than temporary, a loss is recorded in earnings in the current period. Distributions received from equity method investees are presented in the Combined Statements of Cash Flows based on the cumulative earnings approach.

Goodwill and Intangible Assets. Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill and intangible assets deemed to have indefinite lives are not amortized. Goodwill and indefinite-lived intangible assets are tested annually for impairment or when a triggering event occurs using the guidance and criteria described in FASB ASC Topic 350: Intangibles – Goodwill and Other. This testing compares carrying values to fair values and, when appropriate, the carrying value of these assets is reduced to fair value. The Business completed its most recent annual impairment testing as of July 1, 2019 and determined that no impairments to the carrying value of goodwill or indefinite lived intangible assets were necessary.

Intangible assets consist of trademarks, patents, service contracts, monitoring lines and customer relationships and are recognized at fair value in acquisition accounting and then amortized to cost of sales and selling, general and administrative expenses.

Useful lives of finite-lived intangible assets are estimated based upon the nature of the intangible asset. These intangible assets are amortized based on the pattern in which the economic benefits of the intangible assets are consumed. If a pattern of economic benefit cannot be reliably determined or if straight-line amortization approximates the pattern of economic benefit, a straight-line amortization method may be used. The range of estimated useful lives is as follows:

Customer relationships	1-30 years
Trademarks and trade names	5-30 years
Service contracts	1-23 years
Monitoring lines	7-10 years
Patents	7-8 years

Other Long-Lived Assets. The Business evaluates the potential impairment of other long-lived assets whenever events or changes in circumstances indicate that the related carrying amounts of a long-lived asset or asset group may not be recoverable. The carrying value of a long-lived asset or asset group is considered impaired when the projected future undiscounted cash flows to be generated from the asset or asset group over its remaining depreciable life are less than its current carrying value. The Business measures impairment based on the amount by which the carrying value exceeds the estimated fair value of the long-lived asset or asset group. There were no impairments of long-lived assets for the three years ended December 31, 2019.

Income Taxes. Income taxes as presented in the Combined Financial Statements of the Business attribute current and deferred income taxes of UTC to the Business’ stand-alone financial statements in a manner that is systematic, rational and consistent with the asset and liability method prescribed by FASB ASC Topic 740: Income Taxes (“ASC 740”). Accordingly, the Business’ income tax provision was prepared following the separate return method. The separate return method applies ASC 740 to the stand-alone financial statements of each member of the consolidated group as if the group members were a separate taxpayer and a stand-alone enterprise. The calculation of our income taxes on a separate return basis requires considerable amount of judgment and use of both estimates and allocations. As a result, actual transactions included in the consolidated financial statements of UTC may not be included in the separate Combined Financial Statements of the Business. Similarly, the tax treatment of certain items reflected in the Combined Financial Statements of the Business may not be reflected in the consolidated financial statements and tax returns of UTC. Therefore, such items as net operating losses, credit carry-forwards and valuation allowances may exist in the stand-alone financial statements that may or may not exist in UTC’s consolidated financial statements. As such, the income taxes of the Business as presented in the Combined Financial Statements may not be indicative of the income taxes that the Business will generate in the future.

Certain operations of the Business have historically been included in a consolidated return with other UTC entities. Current obligations for taxes in certain jurisdictions, where the Business files a consolidated tax return with UTC, are deemed settled with UTC for purposes of the Combined Financial Statements. Current obligations for tax in jurisdictions where the Business does not file a consolidated return with UTC, including certain foreign jurisdictions and certain U.S. states, are recorded as accrued liabilities. On December 22, 2017, the TCJA was enacted (see Note 14 – Income Taxes). As a result, income tax attributable to certain previously undistributed earnings of the Business’ international subsidiaries was recognized in 2017 and is recorded within Accrued liabilities and Future income tax obligations on the Combined Balance Sheets pursuant to UTC’s election to pay the tax over time, for which Carrier will settle with UTC.

In the ordinary course of business, there is inherent uncertainty in quantifying income tax positions. The Business assesses its income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where it is more-likely-than-not that a tax benefit will be sustained, the Business has recorded the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements. Where applicable, associated interest expense has also been recognized. The Business recognizes accrued interest related to unrecognized tax benefits in interest expense. Penalties, if incurred, would be recognized as a component of income tax expense.

The TCJA contains a new law that subjects the Business to a tax on Global Intangible Low-Taxed Income (“GILTI”), beginning in 2018. GILTI is a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The FASB has provided that companies subject to GILTI have the option to account for the GILTI tax as a period cost if and when incurred, or to recognize deferred taxes for temporary differences, including outside basis differences, expected to reverse as GILTI. The Business has elected to account for GILTI as a period cost, if incurred.

Revenue Recognition. ASU 2014-09 and its related amendments were effective for reporting periods beginning after December 15, 2017. The Business adopted the New Revenue Standard effective January 1, 2018 and elected the modified retrospective approach. The results for periods before 2018 were not adjusted for the new standard. See Note 4 – Revenue Recognition for a discussion of the effect of the New Revenue Standard on the Combined Financial Statements.

The Business accounts for revenue in accordance with FASB ASC Topic 606: Revenue from Contracts with Customers. Under Topic 606, a performance obligation is a promise in a contract to transfer a distinct good or service to the customer. Some of the contracts with customers contain a single performance obligation, while others contain multiple performance obligations most commonly when a contract spans multiple phases of the product life-cycle such as development, production, installation, maintenance and support. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. When there are multiple performance obligations within a contract, the Business allocates the transaction price to each performance obligation based on its relative stand-alone selling price.

Carrier considers the contractual consideration payable by the customer and assesses variable consideration that may affect the total transaction price, including contractual discounts, price concessions, contract incentive payments, estimates of award fees and other sources of variable consideration, when determining the transaction price of each contract. The Business includes variable consideration in the estimated transaction price when there is a basis to reasonably estimate the amount. These estimates are based on historical experience, anticipated performance and best judgment at the time. The Business also considers whether the contracts provide customers with significant financing. Generally, contracts do not contain significant financing.

Point in time revenue recognition. Performance obligations are satisfied as of a point in time for certain businesses in HVAC, certain refrigeration systems and certain alarm and fire detection and suppression systems. Revenue is recognized when control of the product transfers to the customer, generally upon product shipment.

Over-time revenue recognition. Performance obligations are satisfied over-time if the customer receives the benefits as the Business performs work, if the customer controls the asset as it is being produced, or if the product being produced for the customer has no alternative use and the Business has a contractual right to payment. The Business recognizes revenue on an over-time basis on installation and service contracts related to its Refrigeration and Fire & Security businesses as well as certain businesses within HVAC. For over-time performance obligations requiring the installation of equipment, revenue is recognized using costs incurred to date relative to total estimated costs at completion to measure progress. Incurred costs represent work performed, which correspond with and best depict transfer of control to the customer. Contract costs include labor, materials and subcontractors’ costs, or other direct costs, and where applicable, indirect costs.

Contract modifications that are for goods or services that are not distinct are accounted for as part of the existing contract. If the goods or services are considered distinct, then the contract modification would be accounted for prospectively or as part of a new contract. The Business reviews cost estimates on significant contracts on at least a quarterly basis, and for others, no less frequently than annually or when circumstances change and warrant a modification to a previous estimate. The Business records changes in contract estimates using the cumulative catch-up method. There were no material changes in contract estimates during the periods presented.

For 2017, prior to the adoption of the New Revenue Standard, the Business recognized sales for products and services in accordance with the provisions of Staff Accounting Bulletin (“SAB”) Topic 13, Revenue Recognition, as applicable. Sales within the scope of this SAB Topic were recognized when persuasive evidence of an arrangement existed, product delivery had occurred or services had been rendered, pricing was fixed or determinable and collectability was reasonably assured. Subsequent changes in service contracts were accounted for prospectively.

Contract Accounting and Separately Priced Maintenance: For construction-type and certain production-type contracts, sales were recognized on a percentage-of-completion basis following contract accounting methods. Contracts consisted of enforceable agreements which form the basis of our unit of accounting for measuring sales, accumulating costs and recording loss provisions as necessary. Contract accounting required estimates of award fees and other sources of variable consideration as well as future costs over the performance period of the contract. Cost estimates were subject to change and result in adjustments to margins on contracts in progress. Contract costs included estimated inventoriable manufacturing, engineering, product warranty and product performance guarantee costs, as appropriate.

Loss provisions on contracts were recognized to the extent that estimated contract costs exceed the estimated consideration contemplated under the contractual arrangement. For new commitments, the Business generally recorded loss provisions at the earlier of contract announcement or contract signing except for certain requirements contracts under which losses are recorded upon receipt of the purchase order which obligates us to perform. For existing commitments, anticipated losses on contracts were recognized in the period in which losses become evident. Products contemplated under contractual arrangements included firm quantities of products sold under contract.

The Business reviewed its cost estimates on significant contracts on a quarterly basis, and for others, no less frequently than annually or when circumstances change and warrant a modification to a previous estimate. The Business recorded changes in contract estimates using the cumulative catch-up method in accordance with the FASB ASC Topic 605: Revenue Recognition.

Cash Payments to Customers. Carrier customarily offered its customers incentives to purchase products to ensure an adequate supply of its products in the distribution channels. The principal incentive program provided reimbursements to distributors for offering promotional pricing for products. The Business accounted for incentive payments made as a reduction in sales based on an estimate at the time the sale is recognized.

Self-Insurance. The Business maintains self-insurance retentions for a number of risks, including but not limited to, workers’ compensation, general liability, automobile liability, property and employee-related healthcare benefits. It has obtained insurance coverage for amounts exceeding individual and aggregate loss limits. The Business accrues for known future claims and incurred but not reported losses. Liabilities related to self-insured risks were $239 million and $224 million at December 31, 2019 and 2018, respectively, of which $66 million and $64 million were primarily classified as Other long-term liabilities at December 31, 2019 and 2018, respectively. The expense related to self-insurance was $177 million, $170 million and $158 million for the years ended December 31, 2019, 2018 and 2017, respectively.

Environmental. Environmental investigatory, remediation, operating and maintenance costs are accrued when it is probable that a liability has been incurred and the amount can be reasonably estimated. The most likely cost to be incurred is accrued based on an evaluation of currently available facts with respect to each individual site, including existing technology, current laws and regulations and prior remediation experience. Where no amount within a range of estimates is more likely, the minimum is accrued. For sites with multiple responsible parties, the Business considers its likely proportionate share of the anticipated remediation costs and the ability of the other parties to fulfill their obligations in establishing a provision for those costs. Liabilities with fixed or reliably determinable future cash payments are discounted. Accrued environmental liabilities are not reduced by potential insurance reimbursements. See Note 20 – Contingent Liabilities for additional details on the environmental remediation activities.

Asbestos Related Liabilities and Insurance Recoveries, and Indemnification Receivables. The Business records an undiscounted liability for any asbestos related contingency that is probable of occurrence and reasonably estimable. In connection with the recognition of liabilities for asbestos related matters, the Business records asbestos related insurance recoveries that are deemed probable. The amounts recorded by Carrier for asbestos-related liabilities and insurance recoveries are based on currently available information and assumptions that Management believes are reasonable. Carrier’s actual liabilities or insurance recoveries could be higher or lower than those recorded if actual results vary significantly from the assumptions. Key variables in these assumptions include the number and type of new claims to be filed each year, the outcomes or resolution of such claims, the average cost of resolution of each new claim, the amount of insurance available, allocation methodologies, the contractual terms with each insurer with whom the Business has reached settlements, the resolution of coverage issues with other excess insurance carriers with whom the Business has not yet achieved settlements, and the solvency risk with respect to Carrier’s insurance carriers. Other factors that may affect future liability include uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case, legal rulings that may be made by state and federal courts and the passage of state or federal legislation. At the end of each year, the Business evaluates all of these factors and, with input from an outside actuarial expert, make any necessary adjustments to both estimated asbestos liabilities and insurance recoveries. For additional information, see Note 20 – Contingent Liabilities.

Asset Retirement Obligations. The Business records the fair value of legal obligations associated with the retirement of tangible long-lived assets in the period in which it is determined to exist, if a reasonable estimate of fair value can be made. Upon initial recognition of a liability, the Business capitalizes the cost of the asset retirement obligation by increasing the carrying amount of the related long-lived asset. Over time, the liability is increased for changes in its present value and the capitalized cost is depreciated over the useful life of the related asset. As of December 31, 2019 and 2018, the outstanding liability for asset retirement obligations was $74 million and $73 million, respectively, which is included in Other long-term liabilities in the accompanying Combined Balance Sheets.

Other Income (Expense), Net. Other income (expense), net includes the impact of foreign exchange gains or losses, gains or losses on sale of fixed assets as well as other infrequently occurring items. Gains and losses on the disposal of businesses or other investments are also included within Other income (expense), net.

Foreign Exchange. The Business operates in many different currencies and, accordingly, is subject to the inherent risks associated with foreign exchange rate movements. The financial position and results of operations of substantially all of the Business are measured using the local currency as the functional currency. Foreign currency denominated assets and liabilities are translated into U.S. Dollars at the exchange rates existing at the respective balance sheet dates, and income and expense items are translated at the average exchange rates during the respective periods. The aggregate effects of translating foreign currency denominated balance sheets are deferred as a separate component of UTC Net Investment.

Pension and Postretirement Obligations. Guidance under FASB ASC Topic 715: Compensation – Retirement Benefits requires balance sheet recognition of the overfunded or underfunded status of pension and postretirement benefit plans. Under this guidance, actuarial gains and losses, prior service costs or credits and any remaining transition assets or obligations that have not been recognized under previous accounting standards must be recognized in other comprehensive income, net of tax effects, until they are amortized as a component of net periodic benefit cost. Pension and postretirement obligation balances and related costs reflected within the Combined Financial Statements include both costs directly attributable to plans dedicated to Carrier, as well as an allocation of costs for Carrier employees’ participation in UTC’s plans. See Note 12 – Employee Benefit Plans for additional details.

Product Performance Obligations. The Business extends performance and operating cost guarantees beyond normal service and warranty policies for extended periods on some of the Business’ products. The liabilities under such guarantees are based upon future product performance and durability and the Business records such costs that are probable and can be reasonably estimated within Cost of products sold. Separately priced extended warranties are recorded within Contract liabilities as of December 31, 2019 and 2018. In addition, the Business incurs discretionary costs to service its products in connection with product performance issues. The costs associated with these product performance and operating cost guarantees require estimates over the full terms of the agreements and require management to consider factors such as the extent of future maintenance requirements and the future cost of material and labor to perform the services. These cost estimates are largely based upon historical experience. See Note 18 – Guarantees for further discussion.

UTC Net Investment. UTC’s net investment in the Business is presented as “UTC Net Investment” on the Combined Balance Sheets. The Combined Statements of Changes in Equity include net cash transfers and other property transfers between UTC and the Business as well as related party receivables and payables between the Business and other UTC affiliates that were settled on a current basis. UTC performs cash management and other treasury-related functions on a centralized basis for nearly all of its legal entities, which includes the Business and, consequently, the net cash generated by the Business is transferred to UTC through the intercompany accounts.

Recent Accounting Pronouncements. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. This ASU requires the income tax consequences of an intra-entity transfer of an asset, other than inventory, to be recognized when the transfer occurs. Two common examples of assets included in the scope of this update are intellectual property and property, plant and equipment. Carrier adopted the new standard effective January 1, 2018. The adoption of this standard did not have a material impact on the Combined Financial Statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU requires a financial asset (or group of financial assets) to be measured at an amortized cost basis and presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets in order to present the net carrying value, which represents the amount expected to be collected on the financial asset. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted. The Business is still evaluating the impact of this ASU and its related amendments on the Combined Financial Statements, which is not expected to be material.

In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220). The new standard allows companies to reclassify to retained earnings the stranded tax effects in accumulated other comprehensive income (AOCI) from the then newly-enacted TCJA. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Business elected to reclassify the income tax effects of TCJA from AOCI to UTC Net Investment effective January 1, 2019. The adoption of this standard did not have a material impact on the 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 new standard removes the disclosure requirements for the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted. The Business does not expect this ASU to have a significant impact on the Combined Financial Statements, as it only includes changes to disclosure requirements.

In August 2018, the FASB issued ASU 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans. The new standard includes updates to the disclosure requirements for defined benefit plans including several additions, deletions and modifications to the disclosure requirements. The provisions of this ASU are effective for years ending after December 15, 2020, with early adoption permitted. The Business is currently evaluating the impact of this ASU and expect to adopt for the year ending December 31, 2020.

In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. The new standard provides updated guidance surrounding implementation costs associated with cloud computing arrangements that are service contracts. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted. The Business is currently evaluating the impact of this ASU.

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update remove certain exceptions of Topic 740 including: exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or gain from other items; exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. There are also additional areas of guidance in regards to: franchise and other taxes partially based on income and the interim recognition of enactment of tax laws and rate changes. The provisions of this ASU are effective for years beginning after December 15, 2020, with early adoption permitted. The Business is currently evaluating the impact of this ASU.

REVENUE RECOGNITION (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

REVENUE RECOGNITION [Abstract]

REVENUE RECOGNITION

NOTE 4: REVENUE RECOGNITION

Contract Assets and Liabilities. Total contract assets and liabilities are as follows:

(dollars in millions)	September 30, 2020			December 31, 2019
Contract assets, current	$	753		$	622
Contract assets, non-current (included within Other assets)		75			57
Total contract assets		828			679
Contract liabilities, current		(495	)		(443	)
Contract liabilities, non-current (included within Other long-term liabilities)		(166	)		(168	)
Total contract liabilities		(661	)		(611	)
Net contract assets	$	167		$	68

Contract assets increased $149 million for the nine months ended September 30, 2020, primarily due to the timing of billings on customer contracts and contract completions. Contract liabilities increased $50 million for the nine months ended September 30, 2020, primarily due to customer billings in excess of revenue earned.

For the three months ended September 30, 2020 and 2019, we recognized revenue of $55 million and $53 million, respectively, and for the nine months ended September 30, 2020 and 2019, we recognized revenue of $288 million and $301 million, respectively, that was related to contract liabilities as of January 1, 2020 and 2019, respectively.

Remaining Performance Obligations ("RPO"). As of September 30, 2020, our total RPO was approximately $5.6 billion compared with $4.7 billion as of December 31, 2019. Of the total RPO as of September 30, 2020, we expect that approximately 73% will be recognized as sales over the next 12 months.

See Note 19 – Segment Financial Data which provides incremental disclosures required by Accounting Standard Codification ("ASC") Topic 606 – Revenue from Contracts with Customers.

NOTE 4: REVENUE RECOGNITION

Under the New Revenue Standard effective for the period ending December 31, 2018, revenue is recognized using an over-time revenue recognition model when contracts meet one or more of the mandatory criteria established in the New Revenue Standard. If none of the criteria are met, revenue is recognized at a point in time. Performance obligations are satisfied at a point in time for HVAC, certain refrigeration systems and certain alarm and fire detection and suppression systems and products. Revenue is recognized at the point when control of the product transfers to the customer, generally upon product shipment. Under the New Revenue Standard, revenue is recognized on an over-time basis using an input method for installation, service and other repair contracts within the Business. For separately priced product maintenance, sales are primarily recognized on a straight-line basis over the contract period. The Business measures progress toward completion for these contracts using costs incurred to date relative to total estimated costs at completion. Incurred costs represent work performed, which corresponds with and best depicts the transfer of control to the customer. The ongoing effect of recognizing revenue on an over-time basis is not expected to be materially different than the previous revenue recognition method.

The New Revenue Standard had an immaterial impact on the 2018 Combined Statement of Operations. The New Revenue Standard also resulted in the establishment of Contract asset and Contract liability balance sheet accounts, and in the reclassification of balances to these new accounts from Accounts receivable, Inventories and contracts in progress, net, and Accrued liabilities.

Contract Assets and Liabilities. Contract assets reflect revenue recognized and performance obligations satisfied in advance of customer billing. Contract liabilities relate to payments received in advance of the Business satisfying its performance obligations under the contract. The Business receives payments from customers based on the terms established in the contracts. Total contract assets and contract liabilities as of December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Contract assets, current	$	622		$	566
Contract assets, noncurrent (included within Other assets)		57			100
Total contract assets		679			666
Contract liabilities, current		(443	)		(448	)
Contract liabilities, noncurrent (included within Other long-term liabilities)		(168	)		(164	)
Total contract liabilities		(611	)		(612	)
Net contract assets	$	68		$	54

The Business reclassified $666 million to contract assets in connection with the adoption of the New Revenue Standard on January 1, 2018. Contract assets increased by $13 million from January 1, 2019 to December 31, 2019 due primarily to revenue recognition in excess of customer billings. Contract assets increased by $143 million from January 1, 2018 to December 31, 2018 due primarily to revenue recognition in excess of customer billings.

The Business reclassified $612 million to contract liabilities in connection with the adoption of the New Revenue Standard. In 2019, we recognized net sales of $362 million related to contract liabilities as of January 1, 2019. Contract liabilities decreased by $1 million from January 1, 2019 to December 31, 2019 and increased by $4 million from January 1, 2018 through December 31, 2018.

Remaining performance obligations (“RPO”). RPOs are the aggregate amount of total contract transaction price that is unsatisfied or partially unsatisfied. Carrier’s total RPO is approximately $4.7 billion and $5.3 billion as of December 31, 2019 and 2018, respectively. Of the total RPO as of December 31, 2019, the Business expects approximately 64% will be recognized as sales over the following 12 months.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

RELATED PARTIES (FY)	9 Months Ended	12 Months Ended
RELATED PARTIES (FY)	Sep. 30, 2020	Dec. 31, 2019
RELATED PARTIES [Abstract]
RELATED PARTIES	NOTE 5: RELATED PARTIES Equity Method Investments Carrier sells products to and purchases products from unconsolidated entities accounted for under the equity method and, therefore, these entities are considered related parties. During the three months ended September 30, 2020 and 2019, Product sales in the Unaudited Condensed Consolidated Statement of Operations included sales to equity method investees of $576 million and $498 million, respectively. During the three months ended September 30, 2020 and 2019, Cost of products sold in the Unaudited Condensed Consolidated Statement of Operations included purchases from equity method investees of $70 million and $96 million, respectively. During the nine months ended September 30, 2020 and 2019, Product sales in the Unaudited Condensed Consolidated Statement of Operations included sales to equity method investees of $1.4 billion and $1.4 billion, respectively. During the nine months ended September 30, 2020 and 2019, Cost of products sold in the Unaudited Condensed Consolidated Statement of Operations included purchases from equity method investees of $213 million and $274 million, respectively. Carrier had receivables from equity method investees of $213 million and $137 million at September 30, 2020 and December 31, 2019, respectively. Carrier also had payables to equity method investees of $40 million and $55 million at September 30, 2020 and December 31, 2019, respectively. The receivables and payables are included in Accounts receivable, net and Accounts payable on the Unaudited Condensed Consolidated Balance Sheet. The Company periodically reviews the carrying value of its equity method investments to determine if there has been an other-than-temporary decline in fair value. A variety of factors are considered when determining if a decline in carrying value is other-than-temporary, including, among other factors, the financial condition and business prospects of the investee, as well as the Company's intent with regard to the investment. During the three months ended March 31, 2020, we determined that indicators of impairment existed for a minority owned joint venture investment in the portfolio. We performed a valuation of this investment, which was based on the income approach using the discounted cash flow method. We determined that the loss in value was other-than-temporary due to a reduction in sales and earnings that were driven by a deterioration in the oil and gas industry (the joint venture's primary market) and by the impact of the COVID-19 pandemic, among other factors. As a result, we recorded a non-cash, other-than-temporary impairment charge of $71 million on this investment during the three months ended March 31, 2020 which is included in Other income (expense), net on the accompanying Unaudited Condensed Consolidated Statement of Operations. In September 2020, the Company sold 9.25 million B shares of Beijer Ref AB ("Beijer") for SEK290 ($32.38) per share equal to approximately 7.9% of the outstanding B shares in Beijer, through an accelerated equity offering. We received proceeds of approximately $300 million and recognized a pre-tax gain on the sale of $252 million included in Other income (expense), net on the accompanying Unaudited Condensed Consolidated Statement of Operations. Following the sale, Beijer, which is listed on the Nasdaq Stockholm, continues to be reported as an equity method investment with Carrier continuing to hold approximately 30% of Beijer's B shares, approximately 22% of Beijer's A shares and approximately 26% of the Beijer total votes. Related Party with UTC Prior to the Separation, Carrier had been managed and operated in the normal course of business with other affiliates of UTC. Accordingly, certain shared costs were allocated to the Company and are reflected as expenses in the Unaudited Condensed Consolidated Financial Statements. Related Party Sales. During the periods prior to the Separation, the Company sold products and services to UTC and its other affiliates. Product sales in the Unaudited Condensed Consolidated Statement of Operations include sales to UTC and affiliates of UTC other than Carrier of $0 million and $6 million for the three months ended September 30, 2020 and 2019, respectively, and $3 million and $18 million for the nine months ended September 30, 2020 and 2019, respectively. Allocated Centralized Costs. Prior to the Separation, UTC incurred corporate costs for services provided to Carrier and to other UTC businesses. These services included treasury, tax, accounting, human resources, internal audit, legal, purchasing and information technology. The costs associated with these services generally included all payroll and benefit costs as well as related overhead costs. UTC also allocated costs associated with corporate insurance coverage and medical, pension, post-retirement and other health plan costs for employees participating in UTC sponsored plans. UTC corporate costs were either specifically attributed and charged to Carrier, when possible, or allocated to the Company. Allocations were based on direct usage where identifiable and on a number of other utilization measures including headcount, proportionate usage and net sales. All such amounts were deemed incurred and settled by the Company in the period in which the costs were recorded and are included in UTC Net investment. The allocated centralized costs for the three months ended September 30, 2020 and 2019 were $0 million and $62 million, respectively, and for the nine months ended September 30, 2020 and 2019 were $43 million and $178 million, respectively, and are primarily included in Selling, general and administrative in the Unaudited Condensed Consolidated Statement of Operations. The expense and cost allocations have been determined on a basis considered to be a reasonable reflection of the utilization of services provided to or for the benefit of the Company prior to the Separation. The amounts that would have been, or will be incurred on a stand-alone basis could differ from the amounts allocated due to economies of scale, differences in management approach, a need for more or fewer employees, or other factors. In addition, the Company's future results of operations, financial position and cash flows could differ materially from the historical results presented herein. Separation Costs. In connection with the Separation, we have incurred separation-related costs of approximately $24 million and $92 million for the three and nine months ended September 30, 2020, respectively, and $13 million and $13 million for the three and nine months ended September 30, 2019, respectively, primarily recorded in Selling, general and administrative in the Unaudited Condensed Consolidated Statement of Operations, which primarily consist of employee-related costs, costs to establish certain stand-alone functions and information technology systems, professional service fees and other transaction-related costs resulting from Carrier becoming an independent, publicly traded company. Cash Management and Financing. Prior to the Separation, the Company participated in UTC’s centralized cash management and financing programs. Cash receipts and disbursements were executed through centralized systems, which were operated by UTC. As cash was received and disbursed by UTC, it was accounted for by the Company through UTC Net investment. The majority of external debt was financed by UTC, and financing decisions for wholly and majority owned subsidiaries were determined by UTC. See Note 1 – Description of the Business for additional information. The Company’s cash that was excluded from UTC's centralized cash management and financing programs is classified as Cash and cash equivalents in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019. During the nine months ended September 30, 2020, net assets of $780 million were contributed to the Company by UTC which primarily consisted of cash of $590 million, deferred tax assets and liabilities and fixed assets. These contributions of net assets are recorded as Net transfers from UTC on the Unaudited Condensed Consolidated Statement of Changes in Equity through UTC Net investment. Accounts Receivable and Payable. Certain related party transactions between the Company and UTC were included within UTC Net investment in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019 when the related party transactions were not settled in cash. As of December 31, 2019, the UTC Net investment includes related party receivables due from UTC and its affiliates of $16.0 billion and related party payables due to UTC and its affiliates of $3.3 billion. At the Distribution Date, UTC Net investment was reclassified to Common stock and Additional paid-in capital. Prior to the Separation, interest income and expense related to activity with UTC that was historically included in Carrier’s results is presented on a net basis in the Unaudited Condensed Consolidated Statement of Operations. For the three and nine months ended September 30, 2019, there was $21 million and $70 million, respectively, of interest income from activity with UTC. For the three and nine months ended September 30, 2019, there was $12 million and $44 million, respectively, of interest expense from activity with UTC. The effect of the settlement of these related party transactions is included in financing activity in the Unaudited Condensed Consolidated Statement of Cash Flows. There was no interest income or expense from activity with UTC for the three and nine months ended September 30, 2020. Additionally, certain transactions between Carrier and its subsidiaries, and UTC and its affiliates, were cash-settled prior to the Separation and are reflected in Accounts receivable, net and Accounts payable in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019 in the amounts of $6 million and $4 million, respectively. As of September 30, 2020, there were no outstanding Accounts receivable, net or Accounts payable with UTC.	NOTE 5: RELATED PARTIES Historically, Carrier has been managed and operated in the ordinary course of business with other affiliates of UTC. Accordingly, certain shared costs have been allocated to the Business and reflected as expenses in the Combined Financial Statements. Related Party Sales. During the historical periods presented, the Business sold products and services to UTC and its non-Carrier businesses. Product sales in the Combined Statements of Operations include sales to affiliates of UTC of $23 million, $25 million and $29 million for the years ended December 31, 2019, 2018 and 2017, respectively. Allocated Centralized Costs. The Combined Financial Statements have been prepared on a stand-alone basis and are derived from the consolidated financial statements and accounting records of UTC. UTC incurs significant corporate costs for services provided to the Business as well as to other UTC businesses. These services include treasury, tax, accounting, human resources, audit, legal, purchasing, information technology and other such services. The costs associated with these services generally include all payroll and benefit costs, as well as overhead costs related to the support functions. UTC also allocates costs associated with corporate insurance coverage and medical, pension, postretirement and other health plan costs for employees participating in UTC sponsored plans. UTC corporate costs were either specifically attributable to Carrier, when possible, or allocated to the Business. Allocations are based on direct usage where identifiable as well a number of other utilization measures including headcount, proportionate usage and relative revenues. All such amounts have been deemed to have been incurred and settled by the Business in the period in which the costs were recorded and are included in the UTC Net Investment. The allocated functional service expenses and general corporate expenses for the years ended December 31, 2019, 2018 and 2017 were $245 million, $277 million and $240 million, respectively, and are primarily included in Selling, general and administrative in the Combined Statements of Operations. In the opinion of management of UTC and the Business, the expense and cost allocations have been determined on a basis considered to be a reasonable reflection of the utilization of services provided or the benefit received by the Business during 2019, 2018 and 2017. 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, difference in management judgment, a requirement for more or fewer employees or other factors. Management does not believe, however, that it is practicable to estimate what these expenses would have been had the Business operated as an independent entity, including any expenses associated with obtaining any of these services from unaffiliated entities. In addition, the future results of operations, financial position and cash flows could differ materially from the historical results presented herein. Cash Management and Financing. The Business participates in UTC’s centralized cash management and financing programs. Disbursements are made through centralized accounts payable systems, which are operated by UTC. Cash receipts are transferred to centralized accounts, which are also maintained by UTC. As cash is received and disbursed by UTC, it is accounted for by the Business through UTC Net Investment. All short and long-term debt is financed by UTC, and financing decisions for wholly and majority owned subsidiaries are determined by UTC Treasury. See Note 2 – Basis of Presentation for additional information. The Business’ cash that is not included in the centralized cash management and financing programs is classified as Cash and cash equivalents on the Combined Balance Sheets. Accounts Receivable and Payable. Certain related party transactions between the Business and UTC have been included within UTC Net Investment in the Combined Balance Sheets in the historical periods presented when the related party transactions are not settled in cash. The UTC Net Investment includes related party receivables due from UTC and its affiliates of $16.0 billion and $15.1 billion as of December 31, 2019 and 2018, respectively. The UTC Net Investment includes related party payables due to UTC and its affiliates of $3.3 billion and $2.6 billion as of December 31, 2019 and 2018, respectively. The interest income and expense related to the activity with UTC that was included in Carrier’s results is presented on a net basis in the Combined Statements of Operations. Interest income on the activity with UTC was $91 million, $110 million and $85 million for the years ended December 31, 2019, 2018 and 2017, respectively. Interest expense on the activity with UTC was $55 million, $59 million and $202 million for the years ended December 31, 2019, 2018 and 2017, respectively. Included in interest expense for the year ended December 31, 2017 is $146 million related to a related party payable that was settled in November 2017. The total effect of the settlement of these related party transactions is reflected as a financing activity in the Combined Statements of Cash Flows. Additionally, certain transactions between Carrier and UTC and affiliate businesses are cash-settled on a current basis and, therefore, are reflected in the Combined Balance Sheets. Accounts receivable includes $6 million and $12 million at December 31, 2019 and 2018, respectively, and Accounts payable includes $4 million and $8 million at December 31, 2019 and 2018, respectively, related to such transactions. Guarantees. UTC and its affiliates have issued parent company guarantees to certain customers or other third parties regarding the performance obligations of Carrier under certain installation and long-term maintenance contracts. There were no costs charged to the Business by UTC related to these guarantees. Payouts under these guarantees were not significant for 2019, 2018 and 2017. UTC has also obtained guarantees from banks on behalf of Carrier to guarantee ordinary course of business performance obligations as required by certain Carrier customers or other third parties. Typically, such guarantees are in amounts equal to a portion or the entire value of the awarded contract and remain in place through the completion of a contract or warranty period. As of December 31, 2019 and 2018, total outstanding UTC guarantees were approximately $1.4 billion and $0.9 billion, respectively. The Business does not believe that the performance of the underlying obligations secured by such guarantees will have a material adverse effect on Carrier’s financial position, results of operations or cash flows. Third-party costs relating to bank guarantees are reflected in the results of operations. Equity Method Investments. Carrier sells products to and purchases products from uncombined entities accounted for under the equity method, which are considered to be related parties. See Note 16–Equity Method Investments for additional disclosure related to Carrier’s equity method investments and associated related party transactions. Separation Costs. In connection with the Separation as further described in Note 1, we have incurred pre-separation costs of approximately $58 million for the year ended December 31, 2019 and zero for both years ended December 31, 2018 and 2017. These costs were primarily related to employee-related costs such as recruitment and relocation expenses, costs to establish certain stand-alone functions and information technology systems, professional services fees and other transaction-related costs during Carrier’s transition to being a stand-alone public company and are primarily recorded within Selling, general and administrative in the Combined Statement of Operations.

ACCOUNTS RECEIVABLE, NET (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

ACCOUNTS RECEIVABLE, NET [Abstract]

ACCOUNTS RECEIVABLE, NET

NOTE 6: ACCOUNTS RECEIVABLE, NET

The Company is exposed to credit losses primarily through the sale of products and services to commercial customers, which are recorded as Trade receivables. We evaluate a customer’s ability to pay by assessing creditworthiness, historical experience and current business and economic conditions. We determine credit ratings for each customer in our portfolio based upon public information and information obtained directly from our customers. We evaluate the reasonableness of the allowance for credit losses on a quarterly basis or when events and circumstances warrant. In addition to credit quality indicators, the other factors we consider in our evaluation of collectability include the underlying value of any collateral or security interests, past due balances, historical losses, existing economic conditions, and country and political risk. In certain circumstances, we may require collateral or prepayment to mitigate credit risk.

We determine receivables are impaired when, based on historical experience, current information and events and a reasonable forecast period, we may be unable to collect amounts due according to the contractual terms of an agreement. Estimated credit losses are written off in the period in which it is determined that an account receivable is no longer collectible.

Accounts receivable, net consisted of the following:

(dollars in millions)	September 30, 2020			December 31, 2019
Trade receivables	$	2,578		$	2,444
Receivables from affiliates		213			143
Other receivables		169			184
Accounts receivable		2,960			2,771
Less: Allowance for expected credit losses		(88	)		(45	)
Accounts receivable, net	$	2,872		$	2,726

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

(dollars in millions)
Balance as of January 1, 2020	$	45
Provision for expected credit losses		38
Write-offs charged against the allowance for expected credit losses		(2	)
Other (including impact of adoption of ASU 2016-13)		7
Balance as of September 30, 2020	$	88

NOTE 6: ACCOUNTS RECEIVABLE, NET

(dollars in millions)	2019			2018
Trade receivables	$	2,444		$	2,549
Receivables from affiliates		143			113
Miscellaneous receivables		184			152
	$	2,771		$	2,814
Less: Allowance for doubtful accounts		(45	)		(141	)
		2,726			2,673

Accounts receivable are carried at amounts that approximate fair value. Bad debt expense was $18 million, $20 million and $12 million for the years ended December 31, 2019, 2018 and 2017, respectively. In 2019, $61 million of the prior year allowance for doubtful accounts has been reflected as a direct reduction in Trade receivables.

INVENTORIES, NET (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

INVENTORIES, NET [Abstract]

INVENTORIES, NET

NOTE 7: INVENTORIES, NET

(dollars in millions)	September 30, 2020		December 31, 2019
Raw materials	$	248	$	290
Work-in-process		148		120
Finished goods		1,185		922
Inventories, net	$	1,581	$	1,332

Raw materials, work-in-process and finished goods are net of valuation reserves of $180 million and $152 million as of September 30, 2020 and December 31, 2019, respectively.

NOTE 7: INVENTORIES, NET

(dollars in millions)	2019		2018
Raw materials	$	290	$	336
Work-in-process		120		102
Finished goods		922		925
	$	1,332		1,363

Raw materials, work-in-process and finished goods are net of valuation reserves of $152 million and $142 million as of December 31, 2019 and 2018, respectively.

FIXED ASSETS, NET (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

FIXED ASSETS, NET [Abstract]

FIXED ASSETS, NET

NOTE 8: FIXED ASSETS, NET

Fixed assets are recorded at cost and are depreciated on a straight-line basis over their estimated useful lives.

(dollars in millions)	Estimated Useful Lives (Years)		September 30, 2020			December 31, 2019
Land			$	112		$	113
Buildings and improvements		40		1,129			1,138
Machinery, tools and equipment		3 to 25		2,047			1,924
Rental assets		3 to 12		404			395
Other, including assets under construction				187			188
Fixed assets, gross				3,879			3,758
Accumulated depreciation				(2,203	)		(2,095	)
Fixed assets, net			$	1,676		$	1,663

Depreciation expense was $56 million and $54 million for the three months ended September 30, 2020 and 2019, respectively, and $165 million and $163 million for the nine months ended September 30, 2020 and 2019, respectively.

NOTE 8: FIXED ASSETS, NET

Fixed assets are recorded at cost and are depreciated on a straight-line basis over the estimated useful lives of individual assets.

(dollars in millions)	Estimated Useful Lives (Years)		2019			2018
Land			$	113		$	114
Buildings and improvements		40		1,138			1,142
Machinery, tools and equipment	3 to 25			1,924			1,815
Rental assets	3 to 12			395			293
Other, including assets under construction				188			180
				3,758			3,544
Accumulated depreciation				(2,095	)		(1,891	)
			$	1,663		$	1,653

Depreciation expense was $219 million, $221 million and $226 million for the years ended December 31, 2019, 2018 and 2017, respectively.

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

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS [Abstract]

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

NOTE 9: BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

Business Acquisitions and Dispositions. There were no significant acquisitions or divestitures during the three and nine months ended September 30, 2020 and 2019.

Goodwill. The changes in the carrying amount of goodwill are as follows:

(dollars in millions)	HVAC		Refrigeration		Fire & Security		Total
Balance as of January 1, 2020	$	5,351	$	1,228	$	3,305	$	9,884
Foreign currency translation		2		5		15		22
Balance as of September 30, 2020	$	5,353	$	1,233	$	3,320	$	9,906

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

	September 30, 2020					December 31, 2019
(dollars in millions)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,506	$	(1,223	)	$	1,479	$	(1,154	)
Patents and trademarks		293		(213	)		287		(201	)
Monitoring lines		67		(55	)		67		(52	)
Service portfolios and other		636		(528	)		629		(506	)
		2,502		(2,019	)		2,462		(1,913	)
Unamortized:
Trademarks and other		541		—			534		—
Intangible assets, net	$	3,043	$	(2,019	)	$	2,996	$	(1,913	)

Amortization of Intangible assets was $26 million and $30 million for the three months ended September 30, 2020 and 2019, respectively, and $76 million and $88 million for the nine months ended September 30, 2020 and 2019, respectively.

Annual Impairment Assessment. Goodwill and indefinite-lived intangible assets are tested annually for impairment, or when a triggering event occurs that indicates the fair value of the reporting unit or asset may have decreased below the carrying value. The impairment assessment compares the estimated fair value of each reporting unit or indefinite-lived trademark to its associated carrying value. If the carrying value of the reporting unit or trademark exceeds its estimated fair value, then we record an impairment based on the difference between fair value and carrying value. In the case of a reporting unit, an impairment would not exceed the associated carrying value of goodwill. We performed our annual impairment assessment test of goodwill and indefinite-lived trademarks as of July 1, 2020.

As part of our annual impairment testing we considered the impact of the adverse effects of the COVID-19 pandemic on the global economy and our business. To this end, we performed a quantitative impairment assessment that measured the fair value of each reporting unit to its associated carrying value to determine whether it was necessary to recognize a goodwill impairment. Estimating the fair value of individual reporting units and trademarks requires us to make assumptions and estimates regarding our future plans, as well as industry, economic and regulatory conditions, which were updated in performing the impairment assessment.

For all reporting units, the fair value of goodwill exceeded the carrying value, resulting in no goodwill impairment. However, for one reporting unit, with goodwill of $917 million, the excess of fair value over the carrying value was approximately 13%. For this reporting unit, a 100 basis point increase in the discount rate used in the financial forecast would result in an impairment of approximately $84 million. The estimated fair value of the reporting unit would be negatively impacted if future economic conditions are worse than our financial forecast and assumptions or there are substantial reductions in our end markets and volume assumptions relative to our financial forecast.

Based upon the quantitative assessment performed, the fair value of indefinite lived trademarks was determined to exceed the carrying value, resulting in no impairment.

NOTE 9: BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

Business Acquisitions and Dispositions. The Business’ investments through acquisitions, net of cash acquired, in 2019 and 2018 were zero and $310 million, respectively. The acquisitions in 2018 are not considered material for presentation of pro forma results under FASB ASC Topic 805: Business Combinations. Acquisition-related costs have been expensed as incurred and were not material in any of the periods presented.

The Business completed the sale of businesses in 2019 and 2018 for $6 million and $1,032 million in cash, respectively. In 2018, the Business recorded a pre-tax gain of $799 million on the sale of the Taylor business.

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, 2018	$	5,472		$	1,417		$	3,176		$	10,065
Goodwill resulting from business combinations		—			1			194			195
Foreign currency translation and other		(142	)		(187	)		(82	)		(411	)
Balance as of December 31, 2018		5,330			1,231			3,288			9,849
Foreign currency translation and other		21			(3	)		17			35
Balance as of December 31, 2019	$	5,351		$	1,228		$	3,305		$	9,884

The $411 million net reduction in goodwill within foreign currency translations and other in 2018 includes a $151 million reduction of goodwill attributable to the sale of Taylor within the Refrigeration segment. We completed our annual impairment testing as of July 1, 2019 and determined that no adjustments to the carrying value of goodwill were necessary.

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

	2019					2018
(dollars in millions)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,479	$	(1,154	)	$	1,511	$	(1,098	)
Patents and trademarks		287		(201	)		292		(189	)
Monitoring lines		67		(52	)		64		(46	)
Service portfolios and other		629		(506	)		631		(490	)
		2,462		(1,913	)		2,498		(1,823	)
Unamortized:
Trademarks and other		534		—			539		—
Total	$	2,996	$	(1,913	)	$	3,037	$	(1,823	)

Amortization of intangible assets was $116 million, $136 million and $146 million for the years ended December 31, 2019, 2018 and 2017, respectively. The estimated future amortization of intangible assets is as follows:

(dollars in millions)		2020				2021				2022				2023				2024
Future amortization		$	101			$	91			$	72			$	63			$	55

ACCRUED LIABILITIES (FY)

12 Months Ended

Dec. 31, 2019

ACCRUED LIABILITIES [Abstract]

ACCRUED LIABILITIES

NOTE 10: ACCRUED LIABILITIES

(dollars in millions)	2019		2018
Accrued salaries, wages and employee benefits	$	516	$	519
Accrued taxes		318		325
Warranty related		200		190
Project financing obligations		234		150
Accrued restructuring		66		56
Accrued legal and environmental reserves		24		26
Customer advances and deferred revenue		26		24
Other		941		784
	$	2,325	$	2,074

Customer advances and deferred revenue is primarily comprised of advanced billings on service contracts that are typically billed annually or quarterly and amortized ratably over the contract period.

The project financing obligations included in the table above are associated with the sale of rights to unbilled revenues related to the ongoing activity of an entity included within our HVAC segment.

OTHER LONG-TERM LIABILITIES (FY)

12 Months Ended

Dec. 31, 2019

OTHER LONG-TERM LIABILITIES [Abstract]

OTHER LONG-TERM LIABILITIES

NOTE 11: OTHER LONG-TERM LIABILITIES

Other long-term liabilities as of December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019		2018
Warranty related	$	288	$	283
Environmental reserves		203		200
Project financing obligations		75		137
Asset retirement obligations		74		73
Other		625		610
	$	1,265	$	1,303

EMPLOYEE BENEFIT PLANS (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

EMPLOYEE BENEFIT PLANS [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 11: EMPLOYEE BENEFIT PLANS

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

Contributions to the plans were as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
Defined benefit plans	$	1	$	2	$	29	$	29
Defined contribution plans	$	23	$	22	$	78	$	71
Multi-employer pension plans	$	5	$	5	$	15	$	15

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

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
Service cost	$	7		$	7		$	22		$	23
Interest cost		13			17			39			50
Expected return on plan assets		(35	)		(37	)		(104	)		(115	)
Amortization of prior service credit		1			—			2			1
Recognized actuarial net loss		5			2			15			7
Net settlement, curtailment and special termination benefit loss		—			—			1			1
Net periodic pension benefit	$	(9	)	$	(11	)	$	(25	)	$	(33	)

UTC Sponsored Defined Benefit Plans. Defined benefit pension and post-retirement benefit plans sponsored by UTC have been accounted for as multi-employer plans in the Unaudited Condensed Consolidated Financial Statements, in accordance with ASC Topic 715-30 – Defined Benefit Plans – Pension and ASC Topic 715-60 – Defined Benefit Plans – Other Post-retirement. ASC Topic 715 – Compensation-Retirement Benefits, provides that an employer that participates in a multi-employer defined benefit plan is not required to report a liability beyond the contributions currently due and unpaid to the plan. Therefore, no assets or liabilities related to these plans have been included in the Unaudited Condensed Consolidated Balance Sheet.

The expenses associated with these UTC plans were allocated to the Company and reported in Cost of products sold, Cost of services sold, Selling, general and administrative and Non-service pension benefit on the accompanying Unaudited Condensed Consolidated Statement of Operations. The Company's participation in these defined benefit pension and post-retirement benefits plans sponsored by UTC has concluded in conjunction with the Separation. The pension and post-retirement expense and benefits were as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020		2019			2020			2019
Service cost	$	—	$	4		$	—		$	13
Non-service pension benefit		—		(20	)		(2	)		(59	)
Total net periodic benefit	$	—	$	(16	)	$	(2	)	$	(46	)

NOTE 12: EMPLOYEE BENEFIT PLANS

The Business sponsors numerous single-employer domestic and international employee benefit plans and certain of our employees participate in employee benefit plans (the “Shared Plans”) sponsored by UTC which include participants of other UTC businesses. We account for our participation in the Shared Plans as multiemployer benefit plans, as discussed below.

In March 2017, the FASB issued ASU 2017-07, Compensation Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This ASU requires an employer to report the service cost component of net periodic pension benefit cost in the same line item(s) as other compensation cost arising from services rendered by the pertinent employee during the period, with other cost components presented separately from the service cost component and outside of income from operations. This ASU also allows only the service cost component of net periodic pension benefit cost to be eligible for capitalization when applicable. This ASU was effective for years beginning after December 15, 2017. The Business adopted this standard on January 1, 2018 applying the presentation requirements retrospectively. The Business elected to apply the practical expedient, which allows us to use amounts in the employee benefit plans note as the basis for applying retrospective presentation for comparative periods as it is impracticable to determine the disaggregation of the cost components for amounts capitalized and amortized in those periods. Provisions related to presentation of the service cost component eligibility for capitalization were applied prospectively. The presentation change related to the periodic benefit cost of Carrier’s defined benefit pension and postretirement plans is reflected in all periods presented in these financial statements.

Employee Savings Plans. The Business sponsors various employee savings plans. UTC also sponsors and contributes to defined contribution employee savings plans. Certain employees of Carrier participate in these plans. Carrier’s contributions to employer sponsored defined contribution plans were $88 million, $94 million and $86 million for 2019, 2018 and 2017, respectively.

Pension Plans. The Business sponsors both funded and unfunded domestic and foreign defined benefit pension plans that cover a large number of our employees. The largest plans are generally closed to new participants. The Business’ plans use a December 31 measurement date consistent with our fiscal year.

(dollars in millions)	2019			2018
Change in Benefit Obligation
Beginning balance	$	2,581		$	2,822
Service cost		31			33
Interest cost		67			64
Actuarial (gain) loss		351			(110	)
Benefits paid		(132	)		(114	)
Net settlement, curtailment and special termination benefits		(38	)		(8	)
Other		25			(106	)
Ending balance	$	2,885		$	2,581

Change in Plan Assets
Beginning balance	$	2,635		$	3,000
Actual return on plan assets		381			(162	)
Employer contributions		36			45
Benefits paid		(132	)		(114	)
Settlements		(14	)		(7	)
Other		47			(127	)
Ending balance	$	2,953		$	2,635

Funded Status
Fair value of plan assets	$	2,953		$	2,635
Benefit obligations		(2,885	)		(2,581	)
Funded status of plan	$	68		$	54

(dollars in millions)	2019			2018

Amounts Recognized in the Combined Balance Sheets Consist of
Noncurrent assets	$	488		$	442
Current liability		(9	)		(16	)
Noncurrent liability		(411	)		(372	)
Net amount recognized	$	68		$	54

Amounts Recognized in Accumulated Other Comprehensive Loss Consist of
Net actuarial loss	$	577	$	482
Prior service cost		15		11
Net amount recognized	$	592	$	493

The amounts included in “Other” in the above table primarily reflect the impact of foreign exchange translation, primarily for plans in the U.K., Canada and Germany.

Qualified domestic pension plan benefits covering certain union-represented employees comprise approximately 9% of the projected benefit obligation. Benefits for union employees are generally based on a stated amount for each year of service; these plans are closed to new entrants. Foreign plans comprise approximately 91% of the projected benefit obligation; certain of these plans provide participants with one-time payments upon separation of employment rather than a retirement annuity, but are considered defined benefit plans for accounting purposes. Nonqualified domestic pension plans provide supplementary retirement benefits to certain employees and are not a material component of the projected benefit obligation.

In 2019, 2018 and 2017, we made $36 million, $45 million and $44 million, respectively, of cash contributions to our foreign defined benefit pension plans.

Information for pension plans with accumulated benefit obligations in excess of plan assets:

(dollars in millions)	2019		2018
Projected benefit obligation	$	549	$	501
Accumulated benefit obligation		506		463
Fair value of plan assets		137		125

Information for pension plans with projected benefit obligations in excess of plan assets:

(dollars in millions)	2019		2018
Projected benefit obligation	$	690	$	616
Accumulated benefit obligation		630		564
Fair value of plan assets		270		228

The accumulated benefit obligation for all defined benefit pension plans was $2.8 billion and $2.5 billion at December 31, 2019 and 2018, respectively.

The components of the net periodic pension benefit are as follows:

(dollars in millions)	2019			2018			2017
Pension Benefits:
Service cost	$	31		$	33		$	34
Interest cost		67			64			65
Expected return on plan assets		(154	)		(170	)		(160	)
Amortization of prior service cost		2			1			2
Recognized actuarial net loss		9			16			14
Net settlement, curtailment and special termination benefits loss (gain)		4			1			(3	)
Net periodic pension benefit – employer	$	(41	)	$	(55	)	$	(48	)

Other changes in plan assets and benefit obligations recognized in other comprehensive loss in 2019 are as follows:

(dollars in millions)	2019
Current year actuarial loss	$	112
Amortization of actuarial loss		(9	)
Amortization of prior service cost		(2	)
Net settlement and curtailment gain		(4	)
Other		2
Total recognized in other comprehensive loss	$	99
Net recognized in net periodic pension benefit and other comprehensive loss	$	58

The amount included in “Other” in the above table primarily reflects the impact of foreign exchange translation, primarily for plans in the U.K., Canada and Germany.

The estimated amount that will be amortized from accumulated other comprehensive loss into net periodic pension benefit in 2020 is as follows:

(dollars in millions)
Net actuarial loss	$	18
Prior service cost		1
	$	19

Major assumptions used in determining the benefit obligation and net cost for pension plans are presented in the following table as weighted-averages:

	Benefit Obligation						Net Cost
(dollars in millions)	2019			2018			2019			2018			2017
Discount rate
Projected benefit obligation		2.0	%		2.8	%		2.8	%		2.5	%		2.7	%
Interest cost⁽¹⁾		—			—			2.7	%		2.4	%		2.5	%
Service cost⁽¹⁾		—			—			3.2	%		2.8	%		3.1	%
Salary scale		3.4	%		3.0	%		3.0	%		3.0	%		2.6	%
Expected return on plan assets		—			—			5.6	%		6.0	%		6.2	%

Note (1)

The 2019 and 2018 discount rates used to measure the service cost and interest cost applies to our significant plans. The projected benefit obligation discount rate is used for the service cost and interest cost measurements for non-significant plans.

The weighted-average discount rates used to measure pension benefit obligations and net costs are set by reference to specific analyses using each plan’s specific cash flows and are then comparing them to high-quality bond indices for reasonableness. For those significant plans, the Business utilizes a full yield curve approach in the estimation of the service cost and interest cost components by applying the specific spot rates along the yield curve used in determination of the benefit obligation to the relevant projected cash flows.

In determining the expected return on plan assets, we consider the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes, and economic and other indicators of future performance. In addition, we may consult with and consider the opinions of financial and other professionals in developing appropriate capital market assumptions. Return projections are also validated using a simulation model that incorporates yield curves, credit spreads and risk premiums to project long-term prospective returns.

The plans’ investment management objectives include providing the liquidity and asset levels needed to meet current and future benefit payments, while maintaining a prudent degree of portfolio diversification considering interest rate risk and market volatility. Globally, investment strategies target a mix of approximately 40% of growth seeking assets and 60% of income generating and hedging assets using a wide diversification of asset types, fund strategies and investment managers. The growth seeking allocation consists of global public equities in developed and emerging countries, and alternative-asset class strategies. Within the income generating assets, the fixed income portfolio consists of mainly government and broadly diversified high quality corporate bonds.

The plans have continued their pension risk management techniques designed to reduce the plans’ interest rate risk. More specifically, the plans have incorporated liability hedging programs that include the adoption of a risk reduction objective as part of the long-term investment strategy. Under this objective the income generating and hedging assets typically increased as funded status improves. The hedging programs incorporate a range of assets and investment tools, each with ranging interest rate sensitivity. As a result of the improved funded status of the plans due to favorable asset returns and funding of the plans, the income generating and hedging assets increased significantly in recent years.

The fair values of pension plan assets at December 31, 2019 and 2018 by asset category are as follows:

(dollars in millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling		Total
Asset Category
Public Equities:
Global Equities	$	29	$	—	$	—	$	—	$	29
Global Equity Commingled Funds⁽¹⁾		—		141		—		—		141
Enhanced Global Equities⁽²⁾		3		3		—		—		6
Global Equity Funds at net asset value⁽⁸⁾		—		—		—		927		927
Private Equities^(3),(8)		—		—		2		10		12
Fixed income securities:
Governments		8		35		—		—		43
Corporate Bonds		—		169		—		—		169
Fixed income securities⁽⁸⁾		—		—		—		1,449		1,449
Real Estate^(4),(8)		—		3		12		6		21
Other^(5),(8)		—		68		—		23		91
Cash & cash equivalents^(6),(8)		—		3		—		44		47
Subtotal	$	40	$	422	$	14	$	2,459	$	2,935
Other Assets & Liability⁽⁷⁾										18
Total at December 31, 2019									$	2,953

Public Equities:
Global Equities	$	22	$	—	$	—	$	—	$	22
Global Equity Commingled Funds⁽¹⁾		1		115		—		—		116
Enhanced Global Equities⁽²⁾		1		4		—		—		5
Global Equity Funds at net asset value⁽⁸⁾		—		—		—		815		815
Private Equities^(3),(8)		—		—		1		9		10
Fixed income securities:
Governments		13		28		—		—		41
Corporate Bonds		—		136		—		—		136
Fixed income securities⁽⁸⁾		—		—		—		1,323		1,323
Real Estate^(4),(8)		—		3		10		13		26
Other^(5),(8)		—		63		—		18		81
Cash & cash equivalents^(6),(8)		—		7		—		37		44
Subtotal	$	37	$	356	$	11	$	2,215	$	2,619
Other Assets & Liability⁽⁷⁾										16
Total at December 31, 2018									$	2,635

Note (1)

Represents commingled funds that invest primarily in common stocks.

Note 2

Represents enhanced equity separate account and commingled fund portfolios. A portion of the portfolio may include long-short market neutral and relative value strategies that invest in publicly traded, equity and fixed income securities, as well as derivatives of equity and fixed income securities and foreign currency.

Note 3

Represents limited partner investments with general partners that primarily invest in debt and equity.

Note 4

Represents investments in real estate including commingled funds and directly held properties.

Note 5

Represents insurance contracts and global balanced risk commingled funds consisting mainly of equity, bonds and some commodities.

Note 6

Represents short-term commercial paper, bonds and other cash or cash-like instruments.

Note 7

Represents trust receivables and payables that are not leveled.

Note 8

In accordance with ASU 2015-07, Fair Value Measurement (Topic 820), certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension benefits plan assets.

Derivatives in the plan are primarily used to manage risk and gain asset class exposure while still maintaining liquidity. Derivative instruments mainly consist of equity futures, interest rate futures, interest rate swaps and currency forward contracts.

The fair value measurement of plan assets using significant unobservable inputs (Level 3) did not have significant activity in 2019 or 2018 related to unrealized losses (gains), purchases, sales, or settlements.

Quoted market prices are used to value investments when available. Investments in securities traded on exchanges, including listed futures and options, are valued at the last reported sale prices on the last business day of the year or, if not available, the last reported bid prices. Fixed income securities are primarily measured using a market approach pricing methodology, where observable prices are obtained by market transactions involving identical or comparable securities of issuers with similar credit ratings. Over-the-counter securities and government obligations are valued at the bid prices or the average of the bid and ask prices on the last business day of the year from published sources or, if not available, from other sources considered reliable, generally broker quotes. Temporary cash investments are stated at cost, which approximates fair value.

We expect to make total contributions of approximately $29 million to our global defined benefit pension plans in 2020. Contributions do not reflect benefits to be paid directly from corporate assets.

Benefit payments, including amounts to be paid from corporate assets, and reflecting expected future service, as appropriate, are expected to be paid as follows: $127 million in 2020, $120 million in 2021, $123 million in 2022, $125 million in 2023, $126 million in 2024 and $665 million from 2025 through 2029.

Postretirement Benefit Plans. The Business sponsors postretirement benefit plans that provide health and both life benefits to eligible retirees. The postretirement plans are unfunded. The benefit obligation was $6 million at both December 31, 2019 and 2018. The net periodic benefit cost was $0.2 million, $0.2 million and $0.3 million for 2019, 2018 and 2017, respectively. Other comprehensive income of $1 million was recognized during 2019 related to changes in benefit obligations.

The projected benefit obligation discount rate was 3.0% and 3.6% at December 31, 2019 and 2018, respectively. The Net Cost discount rate was 3.6%, 3.4% and 3.7% for 2019, 2018 and 2017, respectively.

Benefit payments, including amounts to be paid from corporate assets, and reflecting expected future service, as appropriate, are expected to be paid as follows: $0.3 million in 2020, $0.3 million in 2021, $0.2 million in 2022, $0.2 million in 2023, $0.2 million in 2024 and $1.1 million from 2025 through 2029.

Multiemployer Benefit Plans. The Business contributes to various domestic and foreign multiemployer defined benefit pension plans. The risks of participating in these multiemployer plans are different from single-employer plans in that assets contributed are pooled and may be used to provide benefits to employees of other participating employers. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. Lastly, if we choose to stop participating in some of our multiemployer plans, we may be required to pay those plans a withdrawal liability based on the underfunded status of the plan.

Our participation in these plans for the annual periods ended December 31 is outlined in the table below. Unless otherwise noted, the most recent Pension Protection Act (“PPA”) zone status available in 2019 and 2018 is for the plan’s year-end at December 31, 2018, and December 31, 2017, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Our significant plan is in the green zone which represents a plan that is at least 80% funded and does not require a financial improvement plan (“FIP”) or a rehabilitation plan (“RP”).

(dollars in millions)	EIN/ Pension Plan Number		Zone Status		FIP/ RP Status Pending/ Implemented	Contributions				Surcharge Imposed	Expiration Date of Collective- Bargaining Agreement
Pension Fund			2019	2018		2019		2018
Metal and technology industry pension plan		N/A	Green	Green	No	$	6	$	6	No	September 30, 2021
Other funds							14		15
						$	20	$	21

UTC’s defined benefit pension and postretirement benefit plans have been accounted for as multi-employer plans in these Combined Financial Statements, in accordance with FASB ASC No. 715-30, “Defined Benefit Plans-Pension” and FASB ASC No. 715-60, “Defined Benefit Plans-Other Postretirement”. FASB ASC No. 715, “Compensation-Retirement Benefits” provides that an employer that participates in a multi-employer defined benefit plan is not required to report a liability beyond the contributions currently due and unpaid to the plan. Therefore, no assets or liabilities related to these plans have been included in the Combined Balance Sheets. These pension and post retirement expenses were allocated to the Business and reported in cost of goods sold, selling, general and administrative expenses and non-service pension costs. The amounts for pension and retirement expenses for the year ended December 31, 2019, 2018 and 2017 were as follows:

(dollars in millions)	2019			2018			2017
Service cost	$	18		$	22		$	23
Non-service pension cost		(81	)		(80	)		(57	)
	$	(63	)	$	(58	)	$	(34	)

EMPLOYEE BENEFIT PLANS

NOTE 12: STOCK-BASED COMPENSATION

Stock-Based Compensation. Prior to the Separation and Distribution, Carrier participated in UTC’s long-term incentive plans ("LTIP") which authorized various types of market and performance-based incentive awards, including stock options, stock appreciation rights, performance share units and restricted stock units, which were granted to eligible Carrier officers and employees. All awards granted under the UTC LTIP related to UTC common shares.

As a result of the Separation and Distribution, outstanding and vested awards granted to employees under UTC's LTIP were generally converted into Carrier, Otis and UTC stock-based awards. Unvested awards held by Carrier employees and former employees were converted to Carrier stock-based awards. The ratio used to convert the UTC LTIP awards was intended to preserve the aggregate intrinsic value of each award immediately after the Separation and the Distribution when compared to the aggregate intrinsic value immediately prior to the Separation and the Distribution. All performance share units outstanding on the Distribution Date were converted to restricted stock units using payout metrics based on a combination of actual performance through the Distribution Date and the target for the remainder of the performance period. Subsequent to and due to the conversion, we expect to incur $14 million of incremental stock-based compensation expense to be recognized over the awards' remaining 1.5 year vesting period.

Under Carrier's LTIP, the exercise price of awards, if any, is set on the grant date and, on a per share basis, may not be less than the fair market value of Carrier's common stock on that date on a per share basis. Stock appreciation rights and stock options have a term of ten years and a three-year vesting period, subject to limited exceptions. In the event of retirement, stock appreciation rights, stock options and restricted stock units held for more than one year may vest and become exercisable (if applicable), subject to certain terms and conditions. Performance share units vest based on performance relative to pre-established metrics and generally have a minimum three-year vesting period. In the event of retirement, performance share units held for more than one year remain eligible to vest based on actual performance relative to pre-established metrics.

We measure the cost of stock-based compensation, including stock options, at fair value on the grant date net of expected forfeitures and amortize the cost over the awards vesting period. We recognized $21 million and $18 million of stock-based compensation expense for the three months ended September 30, 2020 and 2019 and $56 million and $40 million for the nine months ended September 30, 2020 and 2019, respectively. In addition, we recognized $5 million and $2 million of stock-based compensation expense for cash settled awards for the three months ended September 30, 2020 and 2019, respectively, and $2 million for each of the nine months ended September 30, 2020 and 2019. The stock-based compensation expense for periods prior to March 31, 2020 represent amounts allocated to us from UTC for our direct employees.

At September 30, 2020, there was $107 million of unrecognized stock-based compensation costs related to non-vested awards granted under the Carrier LTIP, which will be recognized ratably over a weighted-average period of 2.2 years.

Carrier LTIP activity for the nine months ended September 30, 2020 was as follows:

	Stock Options and Stock Appreciation Rights					Performance Share Units					Restricted Share Units
(shares and units in thousands)	Shares			Average Price ¹		Units			Average Price ²		Units			Average Price²
Outstanding as of April 3, 2020 ³		36,015		$	19.90		68		$	21.23		5,622		$	21.37
Granted		3,753		$	16.62		728		$	18.23		443		$	18.98
Exercised		(984	)	$	15.52		—		$	—		(116	)	$	20.42
Forfeited/Cancelled		(509	)	$	22.73		(22	)	$	19.25		(108	)	$	22.25
Outstanding as of September 30, 2020		38,275		$	19.66		774		$	18.48		5,841		$	21.27

¹ Weighted-average exercise price

² Weighted-average grant date fair value

³Effective date of conversion upon the Separation

The weighted-average fair value of stock appreciation rights granted during the nine months ended September 30, 2020 was $4.36.

The following table summarizes outstanding Carrier LTIP awards that are vested and expected to vest (adjusted for expected forfeitures) and that are exercisable at September 30, 2020:

	Equity Awards Vested and Expected to Vest								Equity Awards That Are Exercisable
(shares and units in thousands; aggregate intrinsic value in dollars in thousands)	Awards		Average Price ¹		Aggregate Intrinsic Value		Remaining Life²		Awards		Average Price ¹		Aggregate Intrinsic Value		Remaining Life²
Stock Options/ Stock Appreciation Rights		36,868	$	19.61	$	403,105		6.7		16,173	$	16.97	$	219,447		4.2
Performance Share Units/ Restricted Stock Units		6,291	$	20.96	$	192,116		1.8

¹ Weighted-average exercise price per share

² Weighted-average remaining contractual term in years for stock options and stock appreciation rights; weighted-average remaining vesting period in years for performance share units and restricted stock units

The fair value of stock appreciation rights is estimated on the date of grant using a binomial model. The following assumptions were used in the binomial model for the nine months ended September 30, 2020:

	For the Nine Months Ended September 30, 2020
Volatility		35.6	%
Expected life (in years)		7.0
Expected dividend yield		2.0	%
Range of risk-free rate		0.1% - 1.0	%

Carrier has limited historical trading data and used peer group data to estimate expected volatility. Carrier used historical Carrier employee data, including data prior to the Separation, to estimate expected life. The expected dividend yield is consistent with Carrier's dividend policy on an annualized basis. The risk-free rate is based on the term structure of interest rates at the time of award grant.

Stock-Based Compensation. Carrier participates in UTC’s long-term incentive plans (“LTIP”) which authorize various types of market and performance-based incentive awards including stock options, stock appreciation rights, performance share units and other such awards. Stock-based compensation expense reflected in the accompanying Combined Financial Statements relates to stock plan awards of UTC awarded to Carrier employees and not stock awards of Carrier as Carrier does not grant stock awards. The following disclosures represent stock-based compensation expenses attributable to Carrier based on the awards and terms previously granted under UTC’s stock-based compensation plans to Carrier employees. Accordingly, the amounts presented are not necessarily indicative of future awards and do not necessarily reflect the results that Carrier would have experienced as an independent company for the periods presented.

Under the UTC LTIP Plans, the exercise price of awards is set on the grant date and may not be less than the fair market value per share on that date. Generally, stock appreciation rights and stock options have a term of ten years and a three-year vesting period, subject to limited exceptions. In the event of retirement, annual stock appreciation rights, stock options and restricted stock units held for more than one year may become vested and exercisable, subject to certain terms and conditions. LTIP awards with performance-based vesting generally have a minimum three-year vesting period and vest based on actual performance against pre-established metrics. In the event of retirement, performance-based awards held for more than one year, remain eligible to vest based on actual performance relative to target metrics.

The Business measures the cost of all share-based payments, including stock options, at fair value on the grant date and recognizes this cost in the Combined Statements of Operations net of expected forfeitures. For the years ended December 31, 2019, 2018 and 2017, $52 million, $44 million and $34 million respectively, of compensation cost directly attributable to Carrier employees was recognized in operating results. The associated future income tax benefit recognized was $11 million, $10 million and $8 million for the years ended December 31, 2019, 2018 and 2017, respectively. The amounts have been adjusted for the impact of the TCJA. Please see Note 14 — Income Taxes for additional details.

For the years ended December 31, 2019, 2018 and 2017, the amount of cash received from the exercise of stock options was $3 million, $4 million and $7 million, respectively, with an associated tax benefit realized of $16 million, $7 million and $19 million, respectively. In addition, for the years ended December 31, 2019, 2018 and 2017, the associated tax benefit realized from the vesting of performance share units and other restricted awards was $9 million, $2 million and $4 million, respectively. The 2019 amount was computed using current U.S. federal and state tax rates.

At December 31, 2019, there was $62 million of total unrecognized compensation costs related to non-vested equity awards granted under long-term incentive plans. This cost is expected to be recognized ratably over a weighted-average period of 2.5 years.

A summary of the transactions under all long-term incentive plans that UTC granted to Carrier employees for the year ended December 31, 2019 follows:

	Stock Options					Stock Appreciation Rights					Performance Share Units					Other Incentive
(shares and units in thousands)	Shares			Average Price*		Shares			Average Price*		Units			Average Price*		Shares/ Units
Outstanding at
December 31, 2018		71		$	85.86		5,635		$	100.16		289		$	110.59		499
Granted		2			133.19		1,673			124.37		142			121.79		219
Ancillary**		—			—		—			—		18			95.53		—
Exercised/earned		(35	)		87.18		(1,658	)		89.30		(155	)		95.54		(211	)
Cancelled		(1	)		110.83		(157	)		120.41		(25	)		112.39		(35	)
Net Transfers⁽¹⁾		(1	)		95.23		665			105.29		93			108.91		121
December 31, 2019		36		$	91.06		6,158		$	109.71		362		$	120.16		593

*	Weighted-average grant/exercise price

**	Ancillary shares granted based on actual performance achieved on the 2016 award

Note (1)

Represents net activity related to employee movement between UTC business units and other miscellaneous adjustments.

The weighted-average grant date fair value of stock options and stock appreciation rights granted by UTC during 2019, 2018 and 2017 was $21.02, $20.25 and $17.55, respectively. The weighted-average grant date fair value of performance share units, which vest upon achieving certain performance metrics, granted by UTC during 2019, 2018 and 2017 was $112.76, $131.42 and $111.00 respectively. The total fair value of awards vested during the years ended December 31, 2019, 2018 and 2017 was $48 million, $27 million and $35 million, respectively. The total intrinsic value (which is the amount by which the stock price exceeded the exercise price on the date of exercise) of stock options and stock appreciation rights exercised during the years ended December 31, 2019, 2018, and 2017 was $80 million, $43 million and $63 million, respectively. The total intrinsic value (which is the stock price at vesting) of performance share units and other restricted awards vested was $45 million, $14 million and $18 million during the years ended December 31, 2019, 2018 and 2017, respectively.

The following table summarizes information about equity awards outstanding for Carrier employees that are vested and expected to vest and equity awards outstanding that are exercisable at December 31, 2019:

	Equity Awards Vested and Expected to Vest											Equity Awards That Are Exercisable
(shares in thousands; aggregate intrinsic value in millions)	Awards		Average Price^*		Aggregate Intrinsic Value		Remaining Term^**	Awards		Average Price^*		Aggregate Intrinsic Value		Remaining Term^**
Stock Options/Stock Appreciation rights		6,083	$	109.31	$	246	6.1 years		3,333	$	98.4	$	171	4.3 years
Performance Share Units/ Restricted Stock		1,006	$	—	$	151	1.7 years

*	Weighted-average exercise price per share

**	Weighted-average contractual remaining term in years

The fair value of each option award is estimated on the date of grant using a binomial lattice model. The following table indicates the assumptions used in estimating fair value for the years ended December 31, 2019 and 2018. These assumptions represent those utilized by UTC and are not necessarily indicative of assumptions that would be used by Carrier as a stand-alone company. Lattice-based option models incorporate ranges of assumptions for inputs; those ranges are as follows:

	2019			2018			2017
Expected volatility		18.8% - 19.7	%		17.5% - 21.1	%		19	%
Weighted-average volatility		20	%		18	%		19	%
Expected term (in years)		6.5 - 6.6			6.5-6.6			6.5
Expected dividend yield		2.4	%		2.2	%		2.4	%
Risk-free rate		2.3% - 2.7	%		1.3% - 2.7	%		0.5% - 2.5	%

Expected volatilities are based on the returns of UTC stock, including implied volatilities from traded options on UTC’s stock for the binomial lattice model. UTC uses historical data to estimate equity award exercise and employee termination behavior within the valuation model. The expected term represents an estimate of the period of time equity awards are expected to remain outstanding. The risk-free rate is based on the term structure of interest rates at the time of equity award grant.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 13: ACCUMULATED OTHER COMPREHENSIVE LOSS

A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the three and nine months ended September 30, 2020 and 2019 is as follows:

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Post- retirement Plans			Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2020
Balance as of June 30, 2020	$	(1,018	)	$	(461	)	$	(1,479	)
Other comprehensive income before reclassifications, net		302			—			302
Amounts reclassified, pre-tax		—			6			6
Tax expense reclassified		—			(1	)		(1	)
Balance as of September 30, 2020	$	(716	)	$	(456	)	$	(1,172	)

Nine Months Ended September 30, 2020
Balance as of January 1, 2020	$	(780	)	$	(473	)	$	(1,253	)
Other comprehensive income before reclassifications, net		64			2			66
Amounts reclassified, pre-tax		—			18			18
Tax benefit reclassified		—			(3	)		(3	)
Balance as of September 30, 2020	$	(716	)	$	(456	)	$	(1,172	)

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Post- retirement Plans			Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2019
Balance as of June 30, 2019	$	(821	)	$	(381	)	$	(1,202	)
Other comprehensive loss before reclassifications, net		(274	)		—			(274	)
Amounts reclassified, pre-tax		—			2			2
Balance as of September 30, 2019	$	(1,095	)	$	(379	)	$	(1,474	)

Nine Months Ended September 30, 2019
Balance as of January 1, 2019	$	(834	)	$	(381	)	$	(1,215	)
Other comprehensive (loss) income before reclassifications, net		(261	)		2			(259	)
Amounts reclassified, pre-tax		—			9			9
ASU 2018-02 adoption impact		—			(9	)		(9	)
Balance as of September 30, 2019	$	(1,095	)	$	(379	)	$	(1,474	)

Amounts reclassified related to defined benefit pension and post-retirement plans include amortization of prior service costs and recognized actuarial net losses. These costs are recorded as components of net periodic pension cost for each period presented (see Note 11 – Employee Benefit Plans for additional details).

NOTE 13: ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

A summary of the changes in each component of accumulated other comprehensive (loss) income, net of tax for the years ended December 31, 2019, 2018 and 2017 is provided below:

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Postretirement Plans			Unrealized Gains (Losses) on Available- for-Sale Securities			Unrealized Hedging Gains (Losses)			Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2017	$	(1,130	)	$	(211	)	$	262		$	(5	)	$	(1,084	)
Other comprehensive income (loss) before reclassifications, net		747			(32	)		(31	)		2			686
Amounts reclassified, pre-tax		(10	)		16			(394	)		1			(387	)
Tax expense reclassified		—			5			163			—			168
Balance at December 31, 2017	$	(393	)	$	(222	)	$	—		$	(2	)	$	(617	)
Other comprehensive loss before reclassifications, net		(441	)		(209	)		—			—			(650	)
Amounts reclassified, pre-tax		—			17			—			2			19
Tax expense reclassified		—			33			—			—			33
Balance at December 31, 2018	$	(834	)	$	(381	)	$	—		$	—		$	(1,215	)
Other comprehensive loss before reclassifications, net		52			(109	)		—			—			(57	)
Amounts reclassified, pre-tax		2			11			—			—			13
Tax expense reclassified		—			15			—			—			15
ASU 2018-02 adoption impact		—			(9	)		—			—			(9	)
Balance at December 31, 2019	$	(780	)	$	(473	)	$	—		$	—		$	(1,253	)

Amounts reclassified related to defined benefit pension and postretirement plans include amortization of prior service costs and actuarial net losses recognized during each period presented. These costs are recorded as components of net periodic pension cost for each period presented (see Note 12 — Employee Benefit Plans for additional details).

Amounts reclassified in 2017 that relate to unrealized gains (losses) on available-for-sale securities, pre-tax includes approximately $394 million of previously unrealized gains reclassified to Other income (expense), net as a result of sales of significant investments in available-for-sale securities in 2017, including Carrier’s sale of investments in Watsco, Inc.

All noncontrolling interests with redemption features, such as put options, that are not solely within the Business’ control (redeemable noncontrolling interests) were reported in the mezzanine section of the Combined Balance Sheets, between liabilities and equity, at the greater of redemption value or initial carrying value through December 31, 2017. The decrease in the value of redeemable noncontrolling interest in the Combined Statements of Changes in Equity for the year ended December 31, 2017 is primarily attributable to our acquisition of the remaining interest in an Italian heating products and services company, initially acquired in 2016.

INCOME TAXES (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 14: INCOME TAXES

The effective tax rate for the three and nine months ended September 30, 2020 was 25.9% and 33.4%, respectively, compared with 25.8% and 18.3%, respectively, for the three and nine months ended September 30, 2019.

The increase in the effective tax rate for the three months ended September 30, 2020 is primarily due to the absence of a net tax reduction resulting from separation-related activities impacting non-U.S. deferred taxes, partially offset by a tax reduction for the 2020 tax year from the finalization of the U.S. Treasury Global Intangible Low-Taxed Income ("GILTI") High Tax Exclusion ("HTE") regulations.

The increase in the effective tax rate for the nine months ended September 30, 2020 is primarily due to the absence of a prior year combined tax benefit of $149 million resulting from the filing by a Carrier subsidiary to participate in an amnesty program offered by the Italian Tax Authority and the conclusion of an audit by the Internal Revenue Service (the "IRS") for UTC's 2014, 2015 and 2016 tax years. In addition, during the current year the Company recognized a $51 million charge related to a valuation allowance recorded against a United Kingdom tax loss and a credit carry forward as a result of activities related to the Separation, and a charge of $46 million resulting from Carrier's decision to no longer permanently reinvest certain pre-2018 unremitted non-U.S. earnings.

The Company assesses the realizability of its deferred tax assets on a quarterly basis through an analysis of potential sources of future taxable income, including prior year taxable income available to absorb a carryback of tax losses, reversals of existing taxable temporary differences, tax planning strategies and forecasts of taxable income. The Company considers all negative and positive evidence, including the weight of the evidence, to determine if valuation allowances against deferred tax assets are required. The Company maintains valuation allowances against certain non-U.S. deferred tax assets. We will continue to evaluate the impact that the COVID-19 pandemic and other economic impacts may have on the future realizability of a portion of the remaining deferred tax assets.

Carrier conducts business globally and, as a result, files income tax returns in U.S. federal and various state and foreign jurisdictions. In certain jurisdictions, Carrier's operations were included in UTC's combined tax returns for the periods through the Separation. The IRS commenced an audit of UTC's tax years 2017 and 2018 in the second quarter of 2020. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world, including Australia, Belgium, Canada, China, Czech Republic, France, Germany, Hong Kong, India, Italy, Mexico, Netherlands, Singapore, the United Kingdom and the United States. Carrier is no longer subject to U.S. federal income tax examination for years prior to 2017 and, with few exceptions, is no longer subject to state and local and foreign income tax examinations for tax years before 2010.

Income taxes through March 31, 2020 were recorded based on a "carve-out" and separate company basis. Prior to the Separation, the Company’s portion of income taxes for domestic and certain foreign jurisdictions were deemed settled in the period the related tax expense was recorded. After the Separation, the Company’s income taxes are prepared on a stand-alone basis.

The Company reduced its forecasted annualized effective tax rate in the three months ended September 30, 2020 partially due to the impact of applying the election of the HTE regulations to the 2020 tax year results. The HTE regulation also permitted a company to elect to apply the regulations retroactively to the years 2018 and 2019. In accordance with the TMA, if the HTE election were made by an amended return by the Company for 2018 and 2019, UTC would be entitled to any federal tax benefit. The Company on a stand-alone basis did not record a benefit from the HTE regulation associated with the years 2018 and 2019 and the amount would not have been material to the Condensed Consolidated Statement of Operations.

Pursuant to the TMA, Carrier is required to make payments to UTC representing Carrier's portion of UTC's remaining net tax liability attributable to U.S. income tax on previously undistributed earnings of Carrier's international subsidiaries resulting from the passage of the Tax Cuts and Jobs Act of 2017 (the "TCJA"). The balances computed on a separate company basis of approximately $68 million recorded within Accrued liabilities and $701 million recorded within Future income tax obligations were adjusted through UTC Net investment upon the Separation, resulting in a future stand-alone obligation of $453 million recorded within Other long-term liabilities and $6 million within Accrued liabilities. This obligation is expected to be settled in six annual installments, beginning April 15, 2021.

After the Separation, Carrier is entitled to unrecognized tax benefits to the extent the item relates exclusively to Carrier in accordance with the TMA. The change from a separate company to stand-alone basis resulted in a decrease of $37 million to Future income tax obligations and $27 million to Future income tax benefits, both of which were recorded through UTC Net investment subsequent to the Separation.

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. The Company believes that it is reasonably possible that a net decrease in unrecognized tax benefits of up to $15 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, court decisions or the closure of tax statutes and the Separation.

NOTE 14: INCOME TAXES

Income Before Income Taxes: The sources of income from operations before income taxes are:

(dollars in millions)	2019		2018		2017
United States	$	1,460	$	2,360	$	1,620
Foreign	$	1,212	$	1,482	$	1,434
Total	$	2,672	$	3,842	$	3,054

On December 22, 2017 Public Law 115-97 “An Act to Provide for Reconciliation to Titles II and V of the Concurrent Resolution on the Budget for Fiscal Year 2018” was enacted. This law is commonly referred to as the Tax Cuts and Jobs Act of 2017 (“TCJA”).

Following enactment of the TCJA, Carrier no longer intends to reinvest certain undistributed earnings of its international subsidiaries that have been previously taxed in the U.S. As such, in 2018 it recorded the international taxes associated with the future remittance of these earnings. For the remainder of Carrier’s undistributed international earnings, unless tax effective to repatriate, Carrier intends to continue to permanently reinvest these earnings. As of December 31, 2019, such undistributed earnings were approximately $6 billion, excluding other comprehensive income amounts. It is not practicable to estimate the amount of tax that might be payable on the remaining amounts.

Provision for Income Taxes

The income tax expense (benefit) for the years ended December 31, 2019, 2018 and 2017 consisted of the following components:

(dollars in millions)	2019			2018			2017
Current:
United States:
Federal	$	262		$	479			1,318
State		72			119			99
Foreign		305			342			342
		639			940			1,759
Future:
United States:
Federal		(14	)		(37	)		22
State		(2	)		24			2
Foreign		(106	)		146			4
		(122	)		133			28
Income tax expense		517			1,073			1,787
Attributable to items credited to UTC Net Investment	$	(36	)	$	(68	)	$	(168	)

Reconciliation of Effective Income Tax Rate. Differences between the effective income tax rates and the statutory U.S. federal income tax rate are as follows:

(dollars in millions)	2019			2018			2017
Statutory U.S. federal income tax rate		21.0	%		21.0	%		35.0	%
State income taxes		2.5	%		2.6	%		1.8	%
Tax on international activities		2.5	%		4.4	%		(3.4	)%
Tax audit settlements		(5.6	)%		—	%		(0.4	)%
U.S. tax reform adoption		—	%		—	%		26.1	%
Other		(1.0	)%		(0.1	)%		(0.6	)%
Effective income tax rate		19.4	%		27.9	%		58.5	%

The 2019 effective tax rate reflects a net tax benefit of $149 million as a result of the filing by a subsidiary of Carrier to participate in an amnesty program offered by the Italian Tax Authority and conclusion of the audit by the Examination Division of the Internal Revenue Service for the UTC 2014, 2015 and 2016 tax years.

The 2018 effective tax rate reflects a net tax charge of $102 million as a result of UTC’s change of assertion of no longer intending to reinvest certain undistributed earnings of its international subsidiaries.

The 2017 effective tax rate reflects a net tax charge of $799 million attributable to the passage of the TCJA. These amounts primarily relate to U.S. income tax attributable to certain previously undistributed earnings of the Business’ international subsidiaries and equity investments and the revaluation of U.S. deferred income taxes.

Deferred Tax Assets and Liabilities. Future income taxes represent the tax effects of transactions which are reported in different periods for tax and financial reporting purposes. These amounts consist of the tax effects of temporary differences between the tax and financial reporting balance sheets and tax carryforwards. Future income tax benefits and payables within the same tax paying component of a particular jurisdiction are offset for presentation in the Combined Balance Sheets.

The tax effects of temporary differences and tax carryforwards which gave rise to future income tax benefits and payables at December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Future income tax benefits:
Insurance and employee benefits	$	76		$	76
Other asset basis differences		128			126
Other liability basis differences		556			331
Tax loss carryforward		236			159
Tax credit carryforwards		55			60
Valuation allowances		(128	)		(107	)
	$	923		$	645

Future income taxes payable:
Intangible assets	$	392		$	403
Other asset basis differences		297			165
	$	689		$	568

Valuation allowances have been established primarily for tax credit carryforwards, tax loss carryforwards and certain foreign temporary differences to reduce the future income tax benefits to expected realizable amounts.

Tax Credit and Loss Carryforwards. At December 31, 2019, tax credit carryforwards, principally state and foreign, and tax loss carryforwards, principally state and foreign, were as follows:

(dollars in millions)	Tax Loss Carryforwards		Tax Credit Carryforwards
Expiration period:
2020-2024	$	52	$	8
2025-2029		105		3
2030-2039		41		1
Indefinite		882		43
Total	$	1,080	$	55

Unrecognized Tax Benefits. At December 31, 2019, Carrier had gross tax-effected unrecognized tax benefits of $166 million, all of which, if recognized, would impact the effective tax rate. A reconciliation of the beginning and ending amounts of unrecognized tax benefits and interest expense related to unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017 is as follows:

(dollars in millions)	2019			2018			2017
Balance at January 1	$	316		$	290		$	243
Additions for tax positions related to the current year		30			27			54
Additions for tax positions of prior years		14			3			17
Reductions for tax positions of prior years		(19	)		(4	)		(20	)
Settlements		(175	)		—			(4	)
Balance at December 31	$	166		$	316		$	290
Gross interest expense related to unrecognized tax benefits	$	8		$	8		$	4
Total accrued interest balance at December 31	$	25		$	33		$	24

Carrier conducts business globally and, as a result, Carrier or one or more of its subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. As noted previously, in certain jurisdictions, Carrier’s operations are included in combined tax returns with UTC. In the ordinary course of business, the Business is subject to examination by taxing authorities throughout the world, including such major jurisdictions as 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, or non-U.S. income tax examinations for years before 2010.

During the second quarter of 2019, a subsidiary of Carrier that was engaged in litigation before the Italian Supreme Court filed for participation in the Italian amnesty program. In addition, during the second quarter of 2019, the Examination Division of the IRS completed its review of UTC’s tax years of 2014, 2015 and 2016 and certain state income tax exams concluded. As a result of the amnesty filing in Italy and the conclusion of the IRS and state audits, Carrier recognized a non-cash gain of approximately $166 million, including pre-tax interest of approximately $16 million.

During 2017, Carrier recognized a noncash gain of approximately $20 million, including a pre-tax interest adjustment of $2 million, as a result of federal, state and non-U.S. tax year primarily related to the expiration of applicable statutes of limitation, including expiration of the U.S. federal income tax statute of limitations for UTC’s 2013 tax year.

It is reasonably possible that a net increase within the range of $14 million to $18 million of unrecognized tax benefits may occur over the next 12 months as a result of additional worldwide uncertain tax positions, the revaluation of current uncertain tax positions arising from developments in examinations, in appeals, or in the courts, or the closure of tax statutes.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

RESTRUCTURING COSTS (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

RESTRUCTURING COSTS [Abstract]

RESTRUCTURING COSTS

NOTE 15: RESTRUCTURING COSTS

During the three and nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020			2019		2020		2019
HVAC	$	—		$	12	$	3	$	47
Refrigeration		(1	)		7		2		14
Fire & Security		4			14		13		35
Eliminations and other		—			1		1		1
Total restructuring costs	$	3		$	34	$	19	$	97

Restructuring charges incurred during the nine months ended September 30, 2020 and 2019 primarily relate to actions initiated during 2020 and 2019, and were recorded as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020			2019		2020		2019
Cost of sales	$	(1	)	$	14	$	5	$	27
Selling, general and administrative		4			20		14		70
Total restructuring costs	$	3		$	34	$	19	$	97

2020 Actions. During the nine months ended September 30, 2020, we recorded net pre-tax restructuring costs of $18 million for restructuring actions initiated in 2020, consisting of $7 million in Cost of products sold and Cost of services sold and $11 million in Selling, general and administrative. The 2020 actions relate 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
For the Three Months Ended September 30, 2020
Restructuring accrual as of June 30, 2020	$	8		$	1	$	9
Net pre-tax restructuring costs		5			—		5
Utilization, foreign exchange and other costs		(4	)		—		(4	)
Balance as of September 30, 2020	$	9		$	1	$	10

For the Nine Months Ended September 30, 2020
Restructuring accrual as of January 1, 2020	$	—		$	—	$	—
Net pre-tax restructuring costs		17			1		18
Utilization, foreign exchange and other costs		(8	)		—		(8	)
Balance as of September 30, 2020	$	9		$	1	$	10

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

(dollars in millions)	Expected Costs		Costs Incurred - Three Months Ended March 31, 2020			Costs Incurred - Three Months Ended June 30, 2020			Costs Incurred - Three Months Ended September 30, 2020			Remaining Costs at September 30, 2020
HVAC	$	5	$	(1	)	$	(2	)	$	(1	)	$	1
Refrigeration		3		—			(3	)		—			—
Fire & Security		13		(1	)		(5	)		(4	)		3
Eliminations and other		1		—			(1	)		—			—
Total	$	22	$	(2	)	$	(11	)	$	(5	)	$	4

2019 Actions. During the nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs totaling $3 million and $82 million, respectively, for restructuring actions initiated in 2019, consisting of $0 million and $20 million in Cost of products sold and Cost of services sold and $3 million and $62 million in Selling, general and administrative, respectively. The 2019 actions relate to ongoing cost reduction efforts, including workforce reductions and consolidation of field operations. The following table summarizes the accrual balances and utilization for the 2019 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
For the Three Months Ended September 30, 2020
Restructuring accrual as of June 30, 2020	$	27		$	—		$	27
Net pre-tax restructuring costs		—			—			—
Utilization, foreign exchange and other costs		(5	)		—			(5	)
Balance as of September 30, 2020	$	22		$	—		$	22

For the Nine Months Ended September 30, 2020
Restructuring accrual as of January 1, 2020	$	43		$	1		$	44
Net pre-tax restructuring costs		3			—			3
Utilization, foreign exchange and other costs		(24	)		(1	)		(25	)
Balance as of September 30, 2020	$	22		$	—		$	22

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

(dollars in millions)	Expected Costs		Costs Incurred in 2019			Costs Incurred - Three Months Ended March 31, 2020			Costs Incurred - Three Months Ended June 30, 2020			Costs Incurred - Three Months Ended September 30, 2020			Remaining Costs at September 30, 2020
HVAC	$	53	$	(51	)	$	(1	)	$	2		$	(1	)	$	2
Refrigeration		16		(14	)		—			(1	)		1			2
Fire & Security		49		(43	)		(2	)		(1	)		—			3
Eliminations and other		2		(2	)		—			—			—			—
Total	$	120	$	(110	)	$	(3	)	$	—		$	—		$	7

2018 and Prior Actions. During the nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs totaling $(2) million and $16 million, respectively, for restructuring actions initiated in 2018 and prior, consisting of $(1) million and $7 million in Cost of products sold and Cost of services sold, respectively, and $(1) million and $9 million in Selling, general and administrative, respectively. As of September 30, 2020 and 2019, we had approximately $7 million and $28 million, respectively, of accrual balances remaining related to 2018 and prior actions.

NOTE 15: RESTRUCTURING COSTS

During the years ended December 31, 2019, 2018 and 2017, the Business recorded net pre-tax restructuring costs totaling $126 million, $80 million and $111 million, respectively, for new and ongoing restructuring actions. The Business recorded charges in the segments as follows:

(dollars in millions)	2019		2018		2017
HVAC	$	56	$	20	$	36
Refrigeration		14		23		13
Fire & Security		53		34		57
Eliminations and other		3		3		5
Total	$	126	$	80	$	111

Restructuring charges incurred in the years ended December 31, 2019, 2018 and 2017 primarily relate to actions initiated during 2019, 2018 and 2017, and were recorded as follows:

(dollars in millions)	2019		2018		2017
Cost of sales	$	36	$	36	$	48
Selling, general, & administrative		90		44		63
Total	$	126	$	80	$	111

2019 Actions. During 2019, the Business recorded net pre-tax restructuring costs totaling $110 million for restructuring actions initiated in 2019, consisting of $29 million in Cost of sales and $81 million in Selling, general and administrative expenses. 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 by cost type for the 2019 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2019	$	—		$	—		$	—
Net pre-tax restructuring costs		102			8			110
Utilization, foreign exchange and other costs		(60	)		(7	)		(67	)
Balance at December 31, 2019	$	42		$	1		$	43

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

(dollars in millions)	Expected Costs		Costs Incurred During 2019			Remaining Costs at December 31, 2019
HVAC	$	53	$	(51	)	$	2
Refrigeration		16		(14	)		2
Fire & Security		49		(43	)		6
Eliminations and other		2		(2	)		—
Total	$	120	$	(110	)	$	10

2018 Actions. During 2019, the Business recorded net pre-tax restructuring costs totaling $16 million for restructuring actions initiated in 2018, consisting of $7 million in Cost of sales and $9 million in Selling, general and administrative expenses. The 2018 actions relate to ongoing cost reduction efforts, including workforce reductions and consolidation of field operations.

The following table summarizes the accrual balances and utilization by cost type for the 2018 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2018	$	—		$	—		$	—
Net pre-tax restructuring costs		57			6			63
Utilization, foreign exchange and other costs		(26	)		(4	)		(30	)
Balance at December 31, 2018	$	31		$	2		$	33
Net pre-tax restructuring costs		8			8			16
Utilization, foreign exchange and other costs		(30	)		(9	)		(39	)
Balance at December 31, 2019	$	9		$	1		$	10

The following table summarizes expected, incurred and remaining costs for the 2018 restructuring actions by segment:

(dollars in millions)	Expected Costs		Costs Incurred During 2018			Costs Incurred During 2019			Remaining Costs at December 31, 2019
HVAC	$	24	$	(17	)	$	(7	)	$	—
Refrigeration		26		(21	)		—			5
Fire & Security		34		(22	)		(9	)		3
Eliminations and other		3		(3	)		—			—
Total	$	87	$	(63	)	$	(16	)	$	8

2017 Actions. During 2019, the Business did not incur any costs related to restructuring actions initiated in 2017. The 2017 actions relate to ongoing cost reduction efforts, including workforce reductions and the consolidation of field operations.

The following table summarizes the accrual balances and utilization by cost type for the 2017 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2017	$	—		$	—		$	—
Net pre-tax restructuring costs		74			2			76
Utilization, foreign exchange and other costs		(33	)		(1	)		(34	)
Balance at December 31, 2017		41			1			42
Net pre-tax restructuring costs		(4	)		5			1
Utilization, foreign exchange and other costs		(26	)		(1	)		(27	)
Balance at December 31, 2018		11			5			16
Net pre-tax restructuring costs		(1	)		1			—
Utilization, foreign exchange and other costs		(7	)		(1	)		(8	)
Balance at December 31, 2019	$	3		$	5		$	8

As of December 31, 2019, remaining expected costs related to 2017 restructuring programs are not significant.

2016 Actions. During 2019, the Business did not incur any restructuring costs related to actions initiated in 2016 and prior. As of December 31, 2019, we have $5 million of accrual balances remaining related to 2016 and prior actions.

EQUITY METHOD INVESTMENTS (FY)

12 Months Ended

Dec. 31, 2019

EQUITY METHOD INVESTMENTS [Abstract]

EQUITY METHOD INVESTMENTS

NOTE 16: EQUITY METHOD INVESTMENTS

Carrier had 30 and 31 uncombined domestic and foreign affiliates as of December 31, 2019 and 2018, respectively. The Business has reflected the results of its historical equity earnings from its equity investments in its Combined Statements of Operations. While the Business retains an ongoing interest in and has significant influence with its equity method investments, the Business does not control these operations directly. Carrier’s ownership interests in equity method investments vary among individual investments but range between 20% and 50%.

Summarized financial information for equity method investments is reflected below.

(dollars in millions)	2019		2018
Current assets	$	4,324	$	4,123
Noncurrent assets		2,058		1,703
Total assets		6,382		5,826
Current liabilities		2,310		2,204
Noncurrent liabilities		592		445
Total liabilities		2,902		2,649
Total net equity of investees		3,480		3,177

(dollars in millions)	2019		2018		2017
Net sales	$	9,622	$	9,142	$	8,697
Gross profit		1,741		1,673		1,606
Income from continuing operations		578		645		561
Net income		578		645		561

Carrier periodically reviews the carrying value of its investments to determine if there has been an other-than-temporary decline in carrying 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 Carrier’s intent with regard to the investment. During the Business’ assessment of potential impairment indicators related to its equity method investments during 2019, the Business determined that indicators of impairment existed for a specific investment in its portfolio. The Business performed a valuation of this investment and determined that the fair value was less than its carrying value. As a result, the Business recorded a non-cash pre-tax charge of $108 million in the third quarter of 2019. There were no other material impairments of Carrier’s investments during the historical periods presented.

Carrier sells products to and purchases products from uncombined entities accounted for under the equity method, which are considered to be related parties. During each of the years ended December 31, 2019, 2018 and 2017, Product sales in the Combined Statements of Operations included sales to equity method investees of $1.8 billion, $1.9 billion and $1.9 billion, respectively. During the years ended December 31, 2019, 2018 and 2017, respectively, Cost of products sold in the Combined Statements of Operations included purchases from equity method investees of $368 million, $355 million and $378 million (as corrected from approximately $600 million in both 2018 and 2017). Carrier had receivables from equity method investees of $137 million and $101 million at December 31, 2019 and 2018, respectively. Carrier also had payables to equity method investees of $55 million and $74 million at December 31, 2019 and 2018, respectively. The receivables and payables were included in Account receivable, net and Accounts payable, respectively, on the Combined Balance Sheets.

OTHER INCOME (EXPENSE), NET (FY)

12 Months Ended

Dec. 31, 2019

OTHER INCOME (EXPENSE), NET [Abstract]

OTHER INCOME (EXPENSE), NET

NOTE 17: OTHER INCOME (EXPENSE), NET

(dollars in millions)	2019			2018		2017
Transaction gains	$	—		$	799	$	379
Impairment of equity method investment (Note 16)		(108	)		—		—
Other		106			138		196
Total	$	(2	)	$	937	$	575

The transaction gain recorded in 2018 relates to our sale of Taylor. The transaction gain recorded in 2017 relates to the sale of our investment in Watsco, Inc.

GUARANTEES (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

GUARANTEES [Abstract]

GUARANTEES

NOTE 16: GUARANTEES

The Company provides service and warranty coverage on its products and extends performance and operating cost guarantees beyond normal service and warranty coverage on some of its products. In addition, the Company incurs discretionary costs to service its products in connection with specific product performance issues. Liabilities for performance and operating cost guarantees are based upon future product performance and durability and are largely estimated based upon historical experience. Adjustments are recorded to accruals based on claims data and historical experience. The changes in the carrying amount of service and product warranties and product performance guarantees, included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet, for the nine months ended September 30, 2020 and 2019 are as follows:

	For the Nine Months Ended September 30,
(dollars in millions)	2020			2019
Balance as of January 1	$	488		$	473
Warranties, performance guarantees issued and changes in estimated liability		131			133
Settlements made		(111	)		(126	)
Other		1			(2	)
Balance as of September 30	$	509		$	478

NOTE 18: GUARANTEES

The Business has commitments and performance guarantees, including energy savings guarantees, under long-term service and maintenance contracts related to its air conditioning equipment and system controls. Liabilities recorded on the Combined Balance Sheets related to these guarantees were not significant during the historical periods presented.

The Business also has obligations arising from sales of certain businesses and assets, including those from representations and warranties and related indemnities for environmental, health and safety (including asbestos-related), tax and employment matters. The maximum potential payment related to these obligations is not a specified amount as a number of the obligations do not contain financial caps. The carrying amount of liabilities related to these obligations was $10 million at both December 31, 2019 and December 31, 2018 recorded within Accrued liabilities. For additional information regarding the environmental indemnifications, see Note 20 — Contingent Liabilities.

Carrier accrues for costs associated with guarantees when it is probable that a liability has been incurred and the amount can be reasonably estimated. The most likely cost to be incurred is accrued based on an evaluation of currently available facts, and where no amount within a range of estimates is more likely, the minimum is accrued. In accordance with FASB ASC Topic 460-10: Guarantees, the Business records these liabilities at fair value.

The Business provides service and warranty policies on its products and extends performance and operating cost guarantees beyond normal service and warranty policies on some of its products. In addition, the Business 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 as claim data and historical experience warrant. The changes in the carrying amount of service and product warranties and product performance guarantees for the years ended December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Balance as of January 1	$	473		$	500
Warranties and performance guarantees issued		182			171
Settlement made		(164	)		(191	)
Other		(3	)		(7	)
Balance as of December 31	$	488		$	473

LEASES (FY)

12 Months Ended

Dec. 31, 2019

LEASES [Abstract]

LEASES

NOTE 19: LEASES

We adopted ASU 2016-02, Leases (Topic 842) and its related amendments (collectively, the New Lease Accounting Standard) effective January 1, 2019, and elected the modified retrospective approach in which results for periods before 2019 were not adjusted for the new standard and the cumulative effect of the change in accounting was recognized through retained earnings at the date of adoption.

The New Lease Accounting Standard establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the Combined Balance Sheet for all leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the Combined Statement of Operations. In addition, this standard requires a lessor to classify leases as either sales-type, finance or operating. A lease will be treated as a sale if it transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as financing. If the lessor doesn’t convey risks and rewards or control, the lease is treated as operating.

We have elected certain of the practical expedients available under the New Lease Accounting Standard. We have applied the practical expedient which allows prospective transition to the New Lease Accounting Standard on January 1, 2019. Under the transition practical expedient, we did not reassess lease classification, embedded leases or initial direct costs. We have applied the practical expedient for short-term leases, whereby a lease ROU asset and liability is not recognized and the expense is recognized in a straight-line basis over the lease term. In addition, we have lease agreements with lease and non-lease components, for which we have elected the practical expedients to combine these components for certain equipment leases. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease right-of-use assets and liabilities. The adoption of the New Lease Accounting Standard did not have a material effect on our Combined Statement of Operations or Combined Statement of Cash Flows. Upon adoption, we recorded an $894 million right-of-use asset and a $901 million lease liability. The adoption of the New Lease Accounting Standard had an immaterial impact on UTC Net Investment.

We enter into lease agreements for the use of real estate space, vehicles, information technology equipment and certain other equipment under operating and finance leases. We determine if an arrangement contains a lease at inception. Operating leases are included in Operating lease right-of-use assets, Accrued liabilities and Operating lease liabilities in our Combined Balance Sheet. Finance leases are not considered significant to our Combined Balance Sheet or Combined Statement of Operations.

Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use an incremental borrowing rate, consistent with that of UTC, based on the information available at commencement date in determining the present value of lease payments, and use the implicit rate when readily determinable. We determine our incremental borrowing rate through market sources including relevant industry rates. Our lease right-of-use assets also include any lease pre-payments and exclude lease incentives. Certain of our leases include variable payments, which may vary based upon changes in facts or circumstances after the start of the lease. We exclude variable payments from lease right-of-use assets and lease liabilities, to the extent not considered fixed, and instead, expense variable payments as incurred. Variable lease expense and lease expense for short duration contracts is not a material component of lease expense. Our leases generally have remaining lease terms of 1 to 25 years, some of which include options to extend leases. The majority of our leases with options to extend are up to 3 years with the ability to terminate the lease within 1 year. The exercise of lease renewal options is at our sole discretion and our lease right-of-use assets and liabilities reflect only the options we are reasonably certain that we will exercise. Lease expense is recognized on a straight-line basis over the lease term.

Operating lease expense for the year ended December 31, 2019, was $206 million.

Supplemental cash flow information related to operating leases was as follows:

(dollars in millions)	Year Ended December 31, 2019
Operating cash flows used for the measurement of operating lease liabilities	$	(201	)
Operating lease right-of-use assets obtained in exchange for operating lease obligations	$	136

Operating lease right-of-use assets and liabilities are reflected on our Combined Balance Sheet as follows:

(dollars in millions, except lease term and discount rate)	December 31, 2019
Operating lease right-of-use assets	$	832
Accrued liabilities		(163	)
Operating lease liabilities		(682	)
Total operating lease liabilities	$	(845	)

Supplemental information related to operating leases was as follows:

	December 31, 2019
Weighted-Average Remaining Lease Term (in years)		8.0
Weighted-Average Discount Rate		3.6	%

Carrier has historically operated as a part of UTC and currently uses UTC’s weighted-average discount rate. This rate may differ when Carrier operates on a stand-alone basis.

Undiscounted maturities of operating lease liabilities, including options to extend lease terms that are reasonably certain of being exercised, as of December 31, 2019 are as follows:

(dollars in millions, except lease term and discount rate)	Operating
2020	$	182
2021		151
2022		121
2023		97
2024		73
Thereafter		315
Total undiscounted lease payments		939
Less imputed interest		(94	)
Total discounted lease payments	$	845

Prior to the adoption of the New Lease Accounting Standard, rental commitments on an undiscounted basis were approximately $685 million at December 31, 2018, under long-term non-cancelable operating leases and were payable as follows: $189 million in 2019, $146 million in 2020, $110 million in 2021, $77 million in 2022, $52 million in 2023 and $111 million thereafter. Rent expense was $167 million and $164 million in 2018 and 2017, respectively.

CONTINGENT LIABILITIES (FY)	9 Months Ended	12 Months Ended
CONTINGENT LIABILITIES (FY)	Sep. 30, 2020	Dec. 31, 2019
COMMITMENTS AND CONTINGENT LIABILITIES [Abstract]
CONTINGENT LIABILITIES	NOTE 18: COMMITMENTS AND CONTINGENT LIABILITIES The Company is unable to predict the final outcome of the following matters based on the information currently available except as otherwise noted. However, the Company does not believe that the resolution of any of these matters will have a material adverse effect upon our competitive position, results of operations, cash flows or financial condition. Environmental. The Company’s operations are subject to environmental regulation by various authorities. We have accrued for the costs of environmental remediation activities, including but not limited to investigatory, remediation, operating and maintenance costs and performance guarantees, and we periodically reassess these amounts. Management believes that the likelihood of incurring losses materially in excess of the amounts accrued is remote. As of September 30, 2020 and December 31, 2019, the outstanding liability for environmental obligations was $233 million and $217 million, respectively, of which $13 million and $14 million, respectively, is included in Accrued liabilities and $220 million and $203 million, respectively, is included in Other long-term liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet. Legal Proceedings. Asbestos Matters – The Company and its consolidated subsidiaries have been named as defendants in lawsuits alleging personal injury as a result of exposure to asbestos allegedly integrated into certain Carrier products or business premises. While the Company has never manufactured asbestos and no longer incorporates it into any currently-manufactured products, certain products that Carrier no longer manufactures contained components incorporating asbestos. A substantial majority of these asbestos-related claims have been dismissed without payment or were covered in full or in part by insurance or other forms of indemnity. Additional cases were litigated and settled without any insurance reimbursement. The amounts involved in asbestos-related claims were not material individually or in the aggregate in any period. The amounts recorded for asbestos-related liabilities are based on currently available information and assumptions that we believe are reasonable and are made with input from outside actuarial experts. As of September 30, 2020, the estimated range of liability to resolve all pending and unasserted potential future asbestos claims through 2059 is approximately $250 million to $290 million. Where no amount within a range of estimates is more likely, the minimum is accrued. We have recorded the minimum amount of $250 million and $255 million, which is principally recorded in Other long-term liabilities on the Unaudited Condensed Consolidated Balance Sheet, as of September 30, 2020 and December 31, 2019, respectively. These amounts are undiscounted and exclude the Company’s legal fees to defend the asbestos claims, which are expensed as incurred. In addition, the Company has recorded an insurance recovery receivable for probable asbestos-related recoveries of approximately $104 million and $104 million, which is included primarily in Other assets on the Unaudited Condensed Consolidated Balance Sheet, as of September 30, 2020 and December 31, 2019, respectively. UTC Equity Awards Conversion Litigation. On August 12, 2020, several former employees of UTC or its subsidiaries filed a putative class action complaint in the United States District Court for the District of Connecticut against UTC, Carrier, and Otis, the former members of the UTC Board of Directors, and the members of the Carrier and Otis Boards of Directors (Geraud Darnis, et al. v. Raytheon Technologies Corporation, et al.). The complaint challenges the method by which UTC equity awards were converted to UTC, Carrier, and Otis equity awards following the separation of UTC into three independent, publicly traded companies on April 3, 2020. The complaint claims that the defendants are liable for breach of certain equity compensation plans and for breach of fiduciary duty, and also asserts claims under certain provisions of Employee Retirement Income Security Act of 1974 ("ERISA"). Carrier believes that the claims against the Company are without merit. Income Taxes. As described in Note 1 – Description of the Business, under the TMA the Company is responsible to UTC for its share of the TCJA transition tax associated with foreign undistributed earnings as of December 31, 2017. As of September 30, 2020, a liability of $72 million, primarily related to our share of TCJA transition tax associated with foreign undistributed earnings is included within Other long-term liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet. We believe that the likelihood of incurring losses materially in excess of this amount is remote. Other. As described in Note 16 – Guarantees, the Company extends performance and operating cost guarantees beyond the normal warranty and service policies for extended periods on some of its products. The Company typically accrues its estimate of the liability that may result under these guarantees and for service costs that are probable and can be reasonably estimated. The Company has other commitments and contingent liabilities related to legal proceedings, self-insurance programs and matters arising in the ordinary course of business. The Company accrues for contingencies generally based upon a range of possible outcomes. If no amount within the range is a better estimate than any other, the Company accrues the minimum amount. In the ordinary course of business, Carrier is routinely a defendant in, party to or otherwise subject to pending and threatened legal actions, claims, disputes and proceedings. These matters are often based on alleged violations of contract, product liability, warranty, regulatory, environmental, health and safety, employment, intellectual property, tax and other laws. In some of these proceedings or instances, claims for substantial monetary damages are asserted against the Company and its subsidiaries and could result in fines, penalties, compensatory or treble damages or non-monetary relief. We do not believe that these matters will have a material adverse effect upon our competitive position, results of operations, cash flows or financial condition.	NOTE 20: CONTINGENT LIABILITIES Except as otherwise noted, while the Business is unable to predict the final outcome, based on information currently available, the Business does not believe that resolution of any of the following matters will have a material adverse effect upon the Business’ competitive position, results of operations, cash flows or financial condition. Environmental. The Business’ operations are subject to environmental regulation by authorities with jurisdiction over its operations. As described in Note 3 to the Combined Financial Statements, the Business has accrued for the costs of environmental remediation activities, including but not limited to investigatory, remediation, operating and maintenance costs and performance guarantees, and periodically reassesses these amounts. Management believes that the likelihood of incurring losses materially in excess of amounts accrued is remote. As of December 31, 2019 and 2018, the outstanding liability for environmental obligations was $217 million and $215 million, respectively, of which $14 million and $15 million is included in Accrued liabilities and $203 million and $200 million is included in Other long-term liabilities in the accompanying Combined Balance Sheets. Legal Proceedings. Asbestos Matters — The Business and its combined subsidiaries have been named as defendants in lawsuits alleging personal injury as a result of exposure to asbestos integrated into certain of Carrier’s products or business premises. While the Business has never manufactured asbestos and no longer incorporates it in any currently-manufactured products, certain of Carrier’s historical products, have 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 year. 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. The estimated range of total liabilities 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 Combined Balance Sheet as of December 31, 2019. This amount is on a pre-tax basis, not discounted, and excludes the Business’ legal fees to defend the asbestos claims, which will continue to be expensed by the Business as they are incurred. In addition, the Business has an insurance recovery receivable for probable asbestos related recoveries of approximately $104 million, which is included primarily in Other assets on the Combined Balance Sheet as of December 31, 2019. Other. As described in Note 18 to the Combined Financial Statements, the Business extends performance and operating cost guarantees beyond the normal warranty and service policies for extended periods on some of the products. The Business 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. For further discussion and rollforward related warranties, see Note 18 — Guarantees. The Business also has other commitments and contingent liabilities related to legal proceedings and matters arising out of the ordinary course of business. The Business accrues contingencies based upon a range of possible outcomes. If no amount within this range is a better estimate than any other, then the Business accrues the minimum amount. In the ordinary course of business, Carrier is also routinely a defendant in, party to or otherwise subject to many 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 Business and its subsidiaries and could result in fines, penalties, compensatory or treble damages or non-monetary relief. The Business does not believe that these matters will have a material adverse effect upon its competitive position, results of operations, cash flows or financial condition.

SEGMENT FINANCIAL DATA (FY)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

SEGMENT FINANCIAL DATA [Abstract]

SEGMENT FINANCIAL DATA

NOTE 19: SEGMENT FINANCIAL DATA

Carrier’s operations are classified into three segments: HVAC, Refrigeration and Fire & Security.

Fire & Security includes a wide range of residential and building systems products and solutions, including fire, flame, gas, smoke and carbon monoxide detection; portable fire extinguishers; fire suppression systems; intruder alarms; access control systems and video management systems. Other fire and security service offerings include audit, design, installation and system integration, as well as aftermarket maintenance and repair and monitoring services.

Segment Information. Segment information for the periods presented are as follows:

	Net Sales						Operating Profit
	For the Three Months Ended September 30,						For the Three Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
HVAC	$	2,892		$	2,602		$	839		$	404
Refrigeration		876			922			103			125
Fire & Security		1,324			1,402			200			205
Total segment		5,092			4,926			1,142			734
Eliminations and other		(90	)		(104	)		(31	)		(63	)
General corporate expenses		—			—			(30	)		(42	)
Consolidated	$	5,002		$	4,822		$	1,081		$	629

	Net Sales						Operating Profit
	For the Nine Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
HVAC	$	7,142		$	7,505		$	1,364		$	1,242
Refrigeration		2,384			2,839			263			373
Fire & Security		3,587			4,078			426			521
Total segment		13,113			14,422			2,053			2,136
Eliminations and other		(251	)		(315	)		(122	)		(95	)
General corporate expenses		—			—			(93	)		(107	)
Consolidated	$	12,862		$	14,107		$	1,838		$	1,934

Geographic External Sales. Geographic external sales and operating profits are attributed to the geographic regions based on their location of origin. With the exception of the U.S. presented in the table below, there were no individually significant countries with sales exceeding 10% of total sales during the nine months ended September 30, 2020 and 2019.

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
United States Operations	$	2,780	$	2,541	$	6,983	$	7,473
International Operations
Europe		1,307		1,313		3,455		3,906
Asia Pacific		715		729		1,879		2,079
Other		200		239		545		649
Consolidated	$	5,002	$	4,822	$	12,862	$	14,107

Products sales and Service sales. Segment sales disaggregated by product and service are as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
Sales Type
Product	$	2,547		$	2,224		$	6,180		$	6,455
Service		345			378			962			1,050
HVAC sales		2,892			2,602			7,142			7,505
Product		771			823			2,093			2,551
Service		105			99			291			288
Refrigeration sales		876			922			2,384			2,839
Product		965			1,055			2,587			3,011
Service		359			347			1,000			1,067
Fire & Security sales		1,324			1,402			3,587			4,078
Total segment sales		5,092			4,926			13,113			14,422
Eliminations and other		(90	)		(104	)		(251	)		(315	)
Consolidated	$	5,002		$	4,822		$	12,862		$	14,107

NOTE 21: SEGMENT FINANCIAL DATA

Carrier has historically operated as an operating segment within UTC. As it is transitioning into an independent, publicly traded company, the Business’ Chief Executive Officer, its Chief Operating Decision Maker (“CODM”), evaluated how to view and measure the Business’ performance. Based upon such evaluation, and effective during the second quarter of 2019, Carrier determined it is organized into three operating segments, which are also its reportable segments, based on how the CODM allocates resources, assesses performance and makes strategic and operational decisions. The CODM allocates resources to and evaluates the financial performance of each operating segment primarily based on net sales and operating profit. For the years ended December 31, 2019, 2018 and 2017, segment results are presented in accordance with this new structure. The Carrier operating segments determined in accordance with FASB ASC Topic 280 — Segment Reporting are (1) HVAC; (2) Refrigeration; and (3) Fire & Security. The segments are generally determined based on the decision-making structure of the Business and the grouping of similar products and services.

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. Carrier’s industry-leading family of brands includes Carrier, Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO and Riello. Products include air conditioners, heating systems, controls and aftermarket components, as well as aftermarket repair and maintenance services and building automation solutions. HVAC products and solutions are sold directly, including to building contractors and owners, and indirectly through equity method investees, independent sales representatives, distributors, wholesalers, dealers and retail outlets.

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. Transport refrigeration products and cold chain monitoring solutions are used to enable the safe, reliable transport of food and beverages, medical supplies and other perishable cargo. Commercial refrigeration solutions include refrigerated cabinets, freezers, systems and controls. Carrier’s commercial refrigeration equipment solutions incorporate next-generation technologies to preserve freshness, ensure safety and enhance the appearance of retail food and beverage. The Business’ Refrigeration products and services are sold under established brand names, including Carrier Commercial Refrigeration, Carrier Transicold and Sensitech. Refrigeration products and services are sold directly, including to transportation companies and retail stores, and indirectly through equity method investees, independent sales representatives, distributors, wholesalers and dealers.

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.

Established brands include Autronica, Chubb, Det-Tronics, Edwards, Fireye, GST, Interlogix, Kidde, LenelS2, Marioff, Onity and Supra. Fire & Security products and solutions are sold directly to end customers, as well as through manufacturers’ representatives, distributors, dealers, value-added resellers and retailers.

Segment Information. Total sales by segment include inter-segment sales, which are generally made at prices approximating those that the selling entity is able to obtain on external sales. Segment information for the years ended December 31 is as follows:

	Net sales									Operating profit
(dollars in millions)	2019			2018			2017			2019			2018			2017
HVAC	$	9,712		$	9,713		$	9,045		$	1,563		$	1,720		$	2,001
Refrigeration		3,792			4,095			3,823			532			1,353			562
Fire & Security		5,500			5,531			5,324			708			726			639
Total Segment		19,004			19,339			18,192			2,803			3,799			3,202
Eliminations and other		(396	)		(425	)		(378	)		(156	)		(24	)		(32	)
General corporate expenses		—			—			—			(156	)		(138	)		(140	)
Combined	$	18,608		$	18,914		$	17,814		$	2,491		$	3,637		$	3,030

Total assets are not presented for each segment as they are not presented to or reviewed by the CODM.

	Segment Assets								Capital Expenditures						Depreciation & Amortization
(dollars in millions)	2019		2018			2017			2019		2018		2017		2019		2018		2017
HVAC	$	1,953	$	1,844		$	1,630		$	150	$	149	$	148	$	160	$	164	$	173
Refrigeration		989		998			1,017			30		40		36		34		36		33
Fire & Security		1,728		1,764			1,698			50		45		50		123		141		152
Total Segment		4,670		4,606			4,345			230		234		234		317		341		358
Eliminations and other		10		(4	)		(10	)		13		29		92		18		16		14
Combined	$	4,680	$	4,602		$	4,335		$	243	$	263	$	326	$	335	$	357	$	372
Cash and cash equivalents		952		1,129			1,324
Other assets, current		327		378			341
Total Current Assets	$	5,959	$	6,109		$	6,000

Segment assets in the table above represents accounts receivable, contract assets, current, and inventories, net. Such accounts are regularly reviewed by management and are therefore reported above as segment assets. All other remaining assets and liabilities for all periods presented are managed on a company-wide basis.

Geographic External Sales and Long-Lived Assets. 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 years ended December 31, 2019, 2018 and 2017. Long-lived assets are net fixed assets attributed to the specific geographic regions:

	External Net sales						Long-Lived Assets
(dollars in millions)	2019		2018		2017		2019		2018		2017
United States Operations	$	9,594	$	9,415	$	8,686	$	701	$	700	$	727
International Operations:
Europe		5,327		5,711		5,323		439		451		480
Asia Pacific		2,813		2,853		2,782		241		244		222
Other		874		935		1,023		282		258		255
	$	18,608	$	18,914	$	17,814	$	1,663	$	1,653	$	1,684

Segment sales disaggregated by product versus service for the year ended December 31, 2019, 2018 and 2017 are as follows:

(dollars in millions)	2019			2018			2017
Sales Type
Product	$	8,279		$	8,395		$	7,902
Service		1,433			1,318			1,143
Total HVAC sales		9,712			9,713			9,045
Product		3,405			3,665			3,427
Service		387			430			396
Total Refrigeration sales		3,792			4,095			3,823
Product		4,072			4,039			3,824
Service		1,428			1,492			1,500
Total Fire & Security sales		5,500			5,531			5,324
Total segment sales		19,004			19,339			18,192
Eliminations and other		(396	)		(425	)		(378	)
Combined	$	18,608		$	18,914		$	17,814

Major Customers. There were no customers that individually accounted for 10% or more of the Business’ combined Net sales for the years ended December 31, 2019, 2018 and 2017.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

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+ Details

SUBSEQUENT EVENTS (FY)	9 Months Ended	12 Months Ended
SUBSEQUENT EVENTS (FY)	Sep. 30, 2020	Dec. 31, 2019
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 20: SUBSEQUENT EVENTS On October 15, 2020, the Board of Directors declared a dividend of $0.08 per share of common stock payable November 23, 2020 to shareowners of record at the close of business on October 30, 2020.	NOTE 22: SUBSEQUENT EVENTS The Business evaluated events and transactions occurring subsequent to December 31, 2019 through February 7, 2020, the date the Combined Financial Statements were issued and concluded that there were no subsequent events that required recognition or disclosure. Events Subsequent to Original Issuance of Combined Financial Statements (Unaudited) In connection with the reissuance of the Combined Financial Statements, the Business has evaluated subsequent events through March 11, 2020, the date the Combined Financial Statements were available to be reissued. On February 10, 2020, Carrier entered into a revolving credit agreement providing for a $2.0 billion unsecured, unsubordinated 5-year revolving credit facility and a term loan credit Agreement providing for a $1.75 billion unsecured, unsubordinated 3-year term loan credit facility. Carrier expects to draw upon the term loan credit agreement in full and use the proceeds to make a cash distribution to UTC prior to the separation of Carrier from UTC. The term loan credit agreement will initially be guaranteed by UTC and the UTC guarantee will terminate upon the distribution of shares of Carrier common stock to UTC shareholders in connection with the separation of Carrier from UTC. On February 27, 2020, Carrier issued $9.25 billion of unsecured, unsubordinated notes consisting of the following: $500 million of 1.923% notes due 2023, $2.0 billion of 2.242% notes due 2025, $1.25 billion of 2.493% notes due 2027, $2.0 billion of 2.722% notes due 2030, $1.5 billion of 3.377% notes due 2040 and $2.0 billion of 3.577% notes due 2050 (together, the “Notes”). Carrier used the net proceeds from the sale of the Notes to make a cash distribution to UTC. Each series of Notes initially will be guaranteed on an unsecured, unsubordinated basis by UTC. Each of the UTC guarantees will terminate upon the distribution of shares of Carrier common stock to UTC shareowners in connection with the separation of Carrier from UTC.

DESCRIPTION OF THE BUSINESS (Q3)	9 Months Ended	12 Months Ended
DESCRIPTION OF THE BUSINESS (Q3)	Sep. 30, 2020	Dec. 31, 2019
DESCRIPTION OF THE BUSINESS [Abstract]
DESCRIPTION OF THE BUSINESS	The Condensed Consolidated Financial Statements as of September 30, 2020 and for the three and nine months ended September 30, 2020 and 2019 are unaudited, and include all adjustments, consisting only of normal recurring adjustments considered necessary by management to fairly state our results of operations, financial position and cash flows for the interim periods. The results reported in the Unaudited Condensed Consolidated Financial Statements are not necessarily indicative of results that may be expected for any other interim period or the entire year. The financial information included herein should be read in conjunction with the financial statements and notes in the Company's information statement, dated March 16, 2020, which was included as Exhibit 99.1 in our Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on March 16, 2020 (the "Information Statement"). Impact of the COVID-19 pandemic A novel strain of coronavirus ("COVID-19") surfaced in Wuhan, China in late 2019 and has since spread throughout the rest of the world. In March 2020, COVID-19 was declared a pandemic by the World Health Organization and a national emergency by the U.S. Government. The pandemic has negatively affected the U.S. and global economies, disrupted global supply chains and financial markets, resulted in significant travel restrictions, mandated facility closures and shelter-in-place orders. Carrier is taking all prudent measures to protect the health and safety of our employees. In particular, we have implemented work from home requirements (where possible), social distancing and deep cleaning protocols at all of our facilities as well as travel restrictions, among other measures. We have also taken appropriate measures to work with our customers to minimize potential disruptions and to support the communities that we serve to address the challenges posed by the pandemic. The full extent of the impact of COVID-19 on our operational and financial performance will depend on future developments, including the duration and spread of the pandemic as well as any worsening or additional outbreaks of the pandemic, and related containment and mitigation actions taken by the U.S., state and local and international governments to prevent disease spread. The extent of the pandemic's impact on Carrier will also depend upon our employees' ability to work safely in our facilities, our customers’ ability to continue to operate or to receive our products, and the level of activity and demand for the ultimate products and services of our customers or their customers. During the three months ended March 31, 2020, we temporarily closed or reduced production at manufacturing facilities in North America, Asia and Europe for safety reasons and in response to lower demand for our products. Subsequently, our manufacturing operations have resumed, measures have been enacted to scale capacity to demand, and we continue to actively take steps to mitigate supply chain risk. We continue to apply appropriate safety measures and have not experienced any significant disruptions to our manufacturing operations. We also initiated return-to-work protocols at our non-manufacturing facilities where employees were previously working remotely. We continue to focus on navigating the challenges COVID-19 presents by preserving our liquidity and managing our cash flows through preemptive actions to enhance our ability to meet our liquidity needs over the next twelve months. Such actions during the nine months ended September 30, 2020 include, but are not limited to, modifying the financial covenants in our revolving and term loan credit facilities and issuing $750 million of unsecured, unsubordinated long-term debt (see Note 10 – Borrowings and Lines of Credit for additional information), reducing our discretionary spending, capital investments and general and administrative costs by implementing temporary pay freezes and pay cuts, employee furloughs and suspending non-critical hiring, and participating in global COVID-19 relief measures, including the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, which provides for payroll tax deferrals and credits, income tax payment deferrals and an increase in the income tax interest deduction limitation. NOTE 1: DESCRIPTION OF THE BUSINESS Carrier Global Corporation is a leading global provider of heating, ventilating, air conditioning ("HVAC"), refrigeration, and fire and security solutions. Carrier also provides a broad array of related building services, including audit, design, installation, system integration, repair, maintenance and monitoring. Carrier’s operations are classified into three segments: HVAC, Refrigeration and Fire & Security. The HVAC and Refrigeration segments sell their products and solutions directly, including to building contractors and owners, transportation companies and retail stores, or indirectly through joint venture and other minority-owned investments, independent sales representatives, distributors, wholesalers, dealers and retail outlets. These products and services are sold under the Carrier name and other brand names including Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO, Riello, Carrier Commercial Refrigeration, Carrier Transicold, Sensitech and others. The Fire & Security segment sells its products directly to customers, or indirectly through manufacturers’ representatives, distributors, dealers, value-added resellers and retailers. Fire & Security’s products and services are used by governments, financial institutions, architects, building owners and developers, security and fire consultants, homeowners and other end-users requiring a high level of security and fire protection for their businesses and residences. These products and services are sold under brand names including Autronica, Chubb, Det-Tronics, Edwards, Fireye, GST, Kidde, LenelS2, Marioff, Onity, Supra and others. On November 26, 2018, United Technologies Corporation, since renamed Raytheon Technologies Corporation ("UTC"), announced its intention to spin off Carrier, one of UTC's reportable segments, into a separate publicly traded company (the "Separation"). On April 3, 2020 (the "Distribution Date"), UTC completed the Separation through a pro-rata distribution (the "Distribution") of all of the outstanding common stock of the Company to UTC shareowners who held shares of UTC common stock as of the close of business on March 19, 2020, the record date for the Distribution. UTC distributed 866,158,910 shares of Carrier common stock in the Distribution, which was effective at 12:01 a.m., Eastern Time, on April 3, 2020 (the "Effective Time"). As a result of the Distribution, UTC shareowners of record received one share of the Company's common stock for every one share of UTC common stock and Carrier became an independent public company and our common stock is listed under the symbol "CARR" on the New York Stock Exchange. In connection with the Separation, Carrier issued an aggregate principal balance of $11.0 billion of debt and transferred approximately $10.9 billion of cash to UTC on February 27, 2020 and March 27, 2020. On April 1, 2020 and April 2, 2020, Carrier received cash contributions totaling $590 million from UTC related to the Separation. See Note 10 – Borrowings and Lines of Credit and Note 3 – Earnings Per Share for additional information. In connection with the Separation, Carrier entered into several agreements with UTC and Otis Worldwide Corporation ("Otis"), including a separation and distribution agreement that sets forth certain agreements with UTC and Otis regarding the principal actions to be taken in connection with the Separation, including identifying the assets transferred, the liabilities assumed and the contracts transferred to each of UTC, Otis and Carrier as part of the Separation, and when and how these transfers and assumptions occurred. Other agreements we entered into that govern aspects of our relationship with UTC and Otis following the Separation include: Transition Services Agreement. We entered into a Transition Services Agreement (the "TSA") with UTC and Otis in connection with the Separation pursuant to which UTC provides us with certain services and we provide certain services to UTC for a limited time to help ensure an orderly transition following the Separation. The services we receive include, but are not limited to, information technology services, technical and engineering support, application support for operations, legal, payroll, finance, tax and accounting, general administrative services and other support services. The costs for these services historically were included in our operating results based on allocations from UTC and in the nine months ended September 30, 2020, were not materially different under the TSA from such costs historically nor do we expect such costs to be materially different when these services are ultimately transitioned from UTC to Carrier. Tax Matters Agreement. We entered into a Tax Matters Agreement (the "TMA") with UTC and Otis that governs the parties’ respective rights, responsibilities and obligations with respect to tax matters (including responsibility for taxes, entitlement to refunds, allocation of tax attributes, preparation of tax returns, control of tax contests and other tax matters). Subject to certain exceptions set forth in the TMA, Carrier generally is responsible for federal, state and foreign taxes imposed on a separate return basis upon Carrier (or any of its subsidiaries) with respect to taxable periods (or portions thereof) that ended on or prior to the date of the Distribution. The TMA provides special rules that allocate responsibility for tax liabilities arising from a failure of the Separation transactions to qualify for tax-free treatment based on the reasons for such failure. The TMA also imposes restrictions on each of Carrier and Otis during the two-year period following the Distribution that are intended to prevent certain transactions from failing to qualify as transactions that are generally tax-free. Employee Matters Agreement and Intellectual Property Agreement. We entered into an employee matters agreement and intellectual property agreement with UTC and Otis in connection with the Separation.	NOTE 1: DESCRIPTION OF THE BUSINESS Carrier Global Corporation (“Carrier”, “the Business,” “we,” “us” or “our”) is a global provider of heating, ventilating, air conditioning (“HVAC”), refrigeration, 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 equity method 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. For the Fire & Security segment, 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. Carrier provides its fire and security products and services under Autronica, Chubb, Det-Tronics, Edwards, Fireye, GST, Interlogix, Kidde, LenelS2, Marioff, Onity, Supra and other brand names, and sells directly to customers as well as through manufacturers’ representatives, distributors, dealers, value-added resellers and retailers. On November 26, 2018, United Technologies Corporation (“UTC”) announced its plan to separate Carrier into an independent publicly traded company (the “Separation”). The Separation will be effectuated through a spin-off, pursuant to which UTC will distribute to UTC shareowners all of the outstanding common shares of common stock of Carrier.

BASIS OF PRESENTATION (Q3)	9 Months Ended	12 Months Ended
BASIS OF PRESENTATION (Q3)	Sep. 30, 2020	Dec. 31, 2019
BASIS OF PRESENTATION [Abstract]
BASIS OF PRESENTATION	NOTE 2: BASIS OF PRESENTATION The Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. All significant intra-company accounts and transactions have been eliminated in the preparation of the Unaudited Condensed Consolidated Financial Statements. Related party transactions between the Company and its equity method investees have not been eliminated. Non-controlling interest represents a non-controlling investor's interests in the results of subsidiaries that we control and consolidate. Certain immaterial amounts presented in the Information Statement have been reclassified to conform to the current period presentation, including the reclassification of the Current portion of long-term debt from Accrued liabilities for 2019 on the accompanying Unaudited Condensed Consolidated Balance Sheet. The Company's financial statements for periods prior to the Separation and the Distribution are prepared on a "carve-out" basis, as described below. The Company's financial statements for the period from April 3, 2020 through September 30, 2020 are consolidated financial statements based on the reported results of Carrier as a stand-alone company. Basis of Presentation Prior to the Separation and the Distribution For the period prior to the Separation and the Distribution, the Unaudited Condensed Consolidated Financial Statements reflect the Company's financial position, results of operations and cash flows for the periods presented, which were historically managed by UTC. For the periods presented prior to the Separation and the Distribution, the Unaudited Condensed Consolidated Financial Statements are derived from UTC's consolidated financial statements and accounting records. The Unaudited Condensed Consolidated Statement of Operations includes all revenues and costs directly attributable to Carrier, including costs for facilities, functions and services used by Carrier. Prior to the Separation, costs for certain functions and services performed by UTC were directly charged to Carrier based on specific identification when possible or based on a reasonable allocation driver such as net sales, headcount, proportionate usage or other allocation methods. The results of operations include allocations of costs for administrative functions and services performed on behalf of Carrier by centralized groups within UTC and of certain pension and other post-retirement benefit costs (see Note 5 – Related Parties for a description of the allocation methodologies). All charges and allocations for facilities, functions and services performed by UTC have been deemed settled in cash by Carrier to UTC in the period in which the cost was recorded in the Unaudited Condensed Consolidated Statement of Operations. Prior to the Separation, UTC used a centralized approach to cash management and the financing of its operations. Accordingly, none of UTC's cash, third party debt or related interest expense has been allocated to Carrier in the Unaudited Condensed Consolidated Financial Statements for the period prior to the Separation. However, cash balances primarily associated with certain foreign entities that did not participate in UTC’s cash management program have been included in the Unaudited Condensed Consolidated Financial Statements for periods prior to the Separation. Transactions between UTC and Carrier are deemed settled immediately through UTC’s Net investment, other than those transactions which have been historically cash-settled and which are reflected in the Unaudited Condensed Consolidated Balance Sheet within Accounts receivable, net and Accounts payable. The net effect of the deemed settled transactions is reflected in the Unaudited Condensed Consolidated Statement of Cash Flows as Net transfers to UTC within financing activities and in the Unaudited Condensed Consolidated Balance Sheet as UTC’s Net investment (see Note 5 – Related Parties for additional information). All of the allocations and estimates in the Unaudited Condensed Consolidated Financial Statements are based on assumptions that management believes are reasonable. However, for the periods prior to the Separation, the Unaudited Condensed Consolidated Financial Statements may not be indicative of the Company's future financial position, results of operations and cash flows or if the Company had been a separate, stand-alone entity during the periods presented. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU and its related amendments (collectively, the "Credit Loss Standard") modified the credit loss model to utilize an expected loss methodology in place of an incurred loss methodology for financial instruments, including trade receivables, contract assets, long-term receivables and off-balance sheet credit exposures. The Credit Loss Standard requires consideration of a broader range of information to estimate expected credit losses, including historical information, current conditions and a reasonable forecast period. This ASU requires that the statement of operations reflect the measurement of credit losses for newly recognized financial assets as well as an expected increase or decrease of expected credit losses that have taken place during the period, which may result in earlier recognition. The Company adopted the Credit Loss Standard effective January 1, 2020, utilizing a modified retrospective approach and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Under this ASU, a goodwill impairment is calculated as the difference between the carrying amount of the reporting unit and its fair value, but not to exceed the carrying amount of the goodwill allocated to that reporting unit. Additionally, this ASU requires the same impairment testing methodology for all reporting units, even those with a zero or negative carrying amount, and requires an entity to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. This ASU removes the disclosure requirements for the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. Recently Issued SEC Rules In May 2020, the SEC issued Final Rule Release No. 33-10786, which amends the financial statement requirements for acquisitions and dispositions of businesses and related pro forma financial information required under SEC Regulation S-X, Rule 3-05. The final rule modifies the significance test required in SEC Regulation S-X, Rule 1-02(w) by raising the significance threshold for reporting dispositions of a business from 10% to 20% and by modifying the calculation of the investment and income tests. In accordance with Rules 3-09 or 4-08(g), the revised income test will apply to the evaluation of equity method investments for significance. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning after December 31, 2020. In August 2020, the SEC issued Final Rule Release No. 33-10825, which amends certain disclosure requirements required by Regulation S-K relating to the description of business (Item 101), legal proceedings (Item 103) and risk factors (Item 105). The amendments to Item 101 will, among other things, allow the Company to provide updates to the general development of the business based on materiality, if it incorporates by reference a full discussion from a previously filed registration statement or report. The amendment also requires disclosure of the registrant’s human capital resources to the extent such disclosures would be material to an understanding of the registrant’s business. The amendments to Item 103 will, among other things, increase the quantitative threshold for disclosing certain governmental environmental proceedings and the amendments to Item 105 will, among other things, require a risk factor summary where the risk factor section itself is longer than 15 pages. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning December 31, 2020.	NOTE 2: BASIS OF PRESENTATION The Business has historically operated as a part of UTC; consequently, stand-alone financial statements have not historically been prepared for the Business. The accompanying Combined Financial Statements have been prepared from UTC’s historical accounting records and are presented on a stand-alone basis as if the Business’ operations had been conducted independently from UTC. These Combined Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Combined Statements 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 centralized UTC are directly charged to Carrier based on specific identification when possible or based on a reasonable allocation driver such as net sales, headcount, 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 organizations have been deemed settled in cash by Carrier to UTC in the period in which the cost was recorded in the Combined Statements of Operations. Current and deferred income taxes have been determined based on the stand-alone results of Carrier. However, because the Business filed as part of UTC’s tax group in certain jurisdictions, the Business’ actual tax balances may differ from those reported. The Business’ portion of its domestic and certain income taxes for jurisdictions outside the United States are deemed to have been settled in the period the related tax expense was recorded. UTC uses 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 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 Combined Financial Statements. Transactions between UTC and Carrier are deemed to have been settled immediately through UTC’s Net Investment, other than those transactions which have historically been cash-settled and which are reflected in the Combined Balance Sheets within Accounts receivable (see Note 6 – Accounts Receivable, Net and Note 5 – Related Parties for additional information). The net effect of the deemed settled transactions is reflected in the Combined Statements of Cash Flows as Net transfers to UTC within financing activities and in the Combined Balance Sheets as UTC’s Net Investment (see Note 5 – Related Parties for additional information). All intracompany accounts and transactions within the Business have been eliminated in the preparation of the Combined Financial Statements. The Combined Financial Statements of the Business include assets and liabilities that have been determined to be specifically identifiable or otherwise attributable to the Business. All of the allocations and estimates in the Combined Financial Statements are based on assumptions that management believes are reasonable. However, the Combined Financial Statements included herein may not be indicative of the financial position, results of operations and cash flows of the Business in the future, or if the Business had been a separate, stand-alone entity during the years presented. The noncontrolling interest represents the noncontrolling investors’ interests in the results of subsidiaries that we control and combine.

EARNINGS PER SHARE (Q3)

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 3: EARNINGS PER SHARE

On the Distribution Date, 866,158,910 shares of the Company’s common stock, par value $0.01 per share, were distributed to UTC shareowners of record as of March 19, 2020. This share amount is utilized for the calculation of basic and diluted earnings per share for all periods presented prior to the Separation and such shares are treated as issued and outstanding for purposes of calculating historical earnings per share. For periods prior to the Separation, it is assumed that there are no dilutive equity instruments as there were no Carrier stock-based awards outstanding prior to the Separation.

Diluted earnings per share is computed by giving effect to all potentially dilutive stock awards that are outstanding. For periods subsequent to the Separation, the computation of diluted earnings per share excludes the effect of the potential exercise of stock-based awards, including stock appreciation rights and stock options, when the effect of the potential exercise would be anti-dilutive. The weighted-average number of common shares outstanding for basic and diluted earnings per share for the three and nine months ended September 30, 2020 was based on the weighted-average number of common shares outstanding for the period beginning after the Distribution Date. For the three months ended September 30, 2020 and the period April 3, 2020 through September 30, 2020, the number of stock awards excluded from the computation of diluted earnings per share due to their anti-dilutive effect was approximately 3.2 million.

	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in millions, except per share amounts; shares in millions)	2020		2019		2020		2019
Net income attributable to common shareowners	$	741	$	492	$	1,098	$	1,676

Basic weighted-average number of shares outstanding		866.4		866.2		866.3		866.2
Stock awards and equity units (share equivalent)		15.1		—		9.9		—
Diluted weighted-average number of shares outstanding		881.5		866.2		876.2		866.2

Earnings Per Share
Basic	$	0.86	$	0.57	$	1.27	$	1.94
Diluted	$	0.84	$	0.57	$	1.25	$	1.94

REVENUE RECOGNITION (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

REVENUE RECOGNITION [Abstract]

REVENUE RECOGNITION

NOTE 4: REVENUE RECOGNITION

Contract Assets and Liabilities. Total contract assets and liabilities are as follows:

(dollars in millions)	September 30, 2020			December 31, 2019
Contract assets, current	$	753		$	622
Contract assets, non-current (included within Other assets)		75			57
Total contract assets		828			679
Contract liabilities, current		(495	)		(443	)
Contract liabilities, non-current (included within Other long-term liabilities)		(166	)		(168	)
Total contract liabilities		(661	)		(611	)
Net contract assets	$	167		$	68

See Note 19 – Segment Financial Data which provides incremental disclosures required by Accounting Standard Codification ("ASC") Topic 606 – Revenue from Contracts with Customers.

NOTE 4: REVENUE RECOGNITION

(dollars in millions)	2019			2018
Contract assets, current	$	622		$	566
Contract assets, noncurrent (included within Other assets)		57			100
Total contract assets		679			666
Contract liabilities, current		(443	)		(448	)
Contract liabilities, noncurrent (included within Other long-term liabilities)		(168	)		(164	)
Total contract liabilities		(611	)		(612	)
Net contract assets	$	68		$	54

- Definition

+ References

+ Details

RELATED PARTIES (Q3)	9 Months Ended	12 Months Ended
RELATED PARTIES (Q3)	Sep. 30, 2020	Dec. 31, 2019
RELATED PARTIES [Abstract]
RELATED PARTIES	NOTE 5: RELATED PARTIES Equity Method Investments Carrier sells products to and purchases products from unconsolidated entities accounted for under the equity method and, therefore, these entities are considered related parties. During the three months ended September 30, 2020 and 2019, Product sales in the Unaudited Condensed Consolidated Statement of Operations included sales to equity method investees of $576 million and $498 million, respectively. During the three months ended September 30, 2020 and 2019, Cost of products sold in the Unaudited Condensed Consolidated Statement of Operations included purchases from equity method investees of $70 million and $96 million, respectively. During the nine months ended September 30, 2020 and 2019, Product sales in the Unaudited Condensed Consolidated Statement of Operations included sales to equity method investees of $1.4 billion and $1.4 billion, respectively. During the nine months ended September 30, 2020 and 2019, Cost of products sold in the Unaudited Condensed Consolidated Statement of Operations included purchases from equity method investees of $213 million and $274 million, respectively. Carrier had receivables from equity method investees of $213 million and $137 million at September 30, 2020 and December 31, 2019, respectively. Carrier also had payables to equity method investees of $40 million and $55 million at September 30, 2020 and December 31, 2019, respectively. The receivables and payables are included in Accounts receivable, net and Accounts payable on the Unaudited Condensed Consolidated Balance Sheet. The Company periodically reviews the carrying value of its equity method investments to determine if there has been an other-than-temporary decline in fair value. A variety of factors are considered when determining if a decline in carrying value is other-than-temporary, including, among other factors, the financial condition and business prospects of the investee, as well as the Company's intent with regard to the investment. During the three months ended March 31, 2020, we determined that indicators of impairment existed for a minority owned joint venture investment in the portfolio. We performed a valuation of this investment, which was based on the income approach using the discounted cash flow method. We determined that the loss in value was other-than-temporary due to a reduction in sales and earnings that were driven by a deterioration in the oil and gas industry (the joint venture's primary market) and by the impact of the COVID-19 pandemic, among other factors. As a result, we recorded a non-cash, other-than-temporary impairment charge of $71 million on this investment during the three months ended March 31, 2020 which is included in Other income (expense), net on the accompanying Unaudited Condensed Consolidated Statement of Operations. In September 2020, the Company sold 9.25 million B shares of Beijer Ref AB ("Beijer") for SEK290 ($32.38) per share equal to approximately 7.9% of the outstanding B shares in Beijer, through an accelerated equity offering. We received proceeds of approximately $300 million and recognized a pre-tax gain on the sale of $252 million included in Other income (expense), net on the accompanying Unaudited Condensed Consolidated Statement of Operations. Following the sale, Beijer, which is listed on the Nasdaq Stockholm, continues to be reported as an equity method investment with Carrier continuing to hold approximately 30% of Beijer's B shares, approximately 22% of Beijer's A shares and approximately 26% of the Beijer total votes. Related Party with UTC Prior to the Separation, Carrier had been managed and operated in the normal course of business with other affiliates of UTC. Accordingly, certain shared costs were allocated to the Company and are reflected as expenses in the Unaudited Condensed Consolidated Financial Statements. Related Party Sales. During the periods prior to the Separation, the Company sold products and services to UTC and its other affiliates. Product sales in the Unaudited Condensed Consolidated Statement of Operations include sales to UTC and affiliates of UTC other than Carrier of $0 million and $6 million for the three months ended September 30, 2020 and 2019, respectively, and $3 million and $18 million for the nine months ended September 30, 2020 and 2019, respectively. Allocated Centralized Costs. Prior to the Separation, UTC incurred corporate costs for services provided to Carrier and to other UTC businesses. These services included treasury, tax, accounting, human resources, internal audit, legal, purchasing and information technology. The costs associated with these services generally included all payroll and benefit costs as well as related overhead costs. UTC also allocated costs associated with corporate insurance coverage and medical, pension, post-retirement and other health plan costs for employees participating in UTC sponsored plans. UTC corporate costs were either specifically attributed and charged to Carrier, when possible, or allocated to the Company. Allocations were based on direct usage where identifiable and on a number of other utilization measures including headcount, proportionate usage and net sales. All such amounts were deemed incurred and settled by the Company in the period in which the costs were recorded and are included in UTC Net investment. The allocated centralized costs for the three months ended September 30, 2020 and 2019 were $0 million and $62 million, respectively, and for the nine months ended September 30, 2020 and 2019 were $43 million and $178 million, respectively, and are primarily included in Selling, general and administrative in the Unaudited Condensed Consolidated Statement of Operations. The expense and cost allocations have been determined on a basis considered to be a reasonable reflection of the utilization of services provided to or for the benefit of the Company prior to the Separation. The amounts that would have been, or will be incurred on a stand-alone basis could differ from the amounts allocated due to economies of scale, differences in management approach, a need for more or fewer employees, or other factors. In addition, the Company's future results of operations, financial position and cash flows could differ materially from the historical results presented herein. Separation Costs. In connection with the Separation, we have incurred separation-related costs of approximately $24 million and $92 million for the three and nine months ended September 30, 2020, respectively, and $13 million and $13 million for the three and nine months ended September 30, 2019, respectively, primarily recorded in Selling, general and administrative in the Unaudited Condensed Consolidated Statement of Operations, which primarily consist of employee-related costs, costs to establish certain stand-alone functions and information technology systems, professional service fees and other transaction-related costs resulting from Carrier becoming an independent, publicly traded company. Cash Management and Financing. Prior to the Separation, the Company participated in UTC’s centralized cash management and financing programs. Cash receipts and disbursements were executed through centralized systems, which were operated by UTC. As cash was received and disbursed by UTC, it was accounted for by the Company through UTC Net investment. The majority of external debt was financed by UTC, and financing decisions for wholly and majority owned subsidiaries were determined by UTC. See Note 1 – Description of the Business for additional information. The Company’s cash that was excluded from UTC's centralized cash management and financing programs is classified as Cash and cash equivalents in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019. During the nine months ended September 30, 2020, net assets of $780 million were contributed to the Company by UTC which primarily consisted of cash of $590 million, deferred tax assets and liabilities and fixed assets. These contributions of net assets are recorded as Net transfers from UTC on the Unaudited Condensed Consolidated Statement of Changes in Equity through UTC Net investment. Accounts Receivable and Payable. Certain related party transactions between the Company and UTC were included within UTC Net investment in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019 when the related party transactions were not settled in cash. As of December 31, 2019, the UTC Net investment includes related party receivables due from UTC and its affiliates of $16.0 billion and related party payables due to UTC and its affiliates of $3.3 billion. At the Distribution Date, UTC Net investment was reclassified to Common stock and Additional paid-in capital. Prior to the Separation, interest income and expense related to activity with UTC that was historically included in Carrier’s results is presented on a net basis in the Unaudited Condensed Consolidated Statement of Operations. For the three and nine months ended September 30, 2019, there was $21 million and $70 million, respectively, of interest income from activity with UTC. For the three and nine months ended September 30, 2019, there was $12 million and $44 million, respectively, of interest expense from activity with UTC. The effect of the settlement of these related party transactions is included in financing activity in the Unaudited Condensed Consolidated Statement of Cash Flows. There was no interest income or expense from activity with UTC for the three and nine months ended September 30, 2020. Additionally, certain transactions between Carrier and its subsidiaries, and UTC and its affiliates, were cash-settled prior to the Separation and are reflected in Accounts receivable, net and Accounts payable in the Unaudited Condensed Consolidated Balance Sheet as of December 31, 2019 in the amounts of $6 million and $4 million, respectively. As of September 30, 2020, there were no outstanding Accounts receivable, net or Accounts payable with UTC.	NOTE 5: RELATED PARTIES Historically, Carrier has been managed and operated in the ordinary course of business with other affiliates of UTC. Accordingly, certain shared costs have been allocated to the Business and reflected as expenses in the Combined Financial Statements. Related Party Sales. During the historical periods presented, the Business sold products and services to UTC and its non-Carrier businesses. Product sales in the Combined Statements of Operations include sales to affiliates of UTC of $23 million, $25 million and $29 million for the years ended December 31, 2019, 2018 and 2017, respectively. Allocated Centralized Costs. The Combined Financial Statements have been prepared on a stand-alone basis and are derived from the consolidated financial statements and accounting records of UTC. UTC incurs significant corporate costs for services provided to the Business as well as to other UTC businesses. These services include treasury, tax, accounting, human resources, audit, legal, purchasing, information technology and other such services. The costs associated with these services generally include all payroll and benefit costs, as well as overhead costs related to the support functions. UTC also allocates costs associated with corporate insurance coverage and medical, pension, postretirement and other health plan costs for employees participating in UTC sponsored plans. UTC corporate costs were either specifically attributable to Carrier, when possible, or allocated to the Business. Allocations are based on direct usage where identifiable as well a number of other utilization measures including headcount, proportionate usage and relative revenues. All such amounts have been deemed to have been incurred and settled by the Business in the period in which the costs were recorded and are included in the UTC Net Investment. The allocated functional service expenses and general corporate expenses for the years ended December 31, 2019, 2018 and 2017 were $245 million, $277 million and $240 million, respectively, and are primarily included in Selling, general and administrative in the Combined Statements of Operations. In the opinion of management of UTC and the Business, the expense and cost allocations have been determined on a basis considered to be a reasonable reflection of the utilization of services provided or the benefit received by the Business during 2019, 2018 and 2017. 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, difference in management judgment, a requirement for more or fewer employees or other factors. Management does not believe, however, that it is practicable to estimate what these expenses would have been had the Business operated as an independent entity, including any expenses associated with obtaining any of these services from unaffiliated entities. In addition, the future results of operations, financial position and cash flows could differ materially from the historical results presented herein. Cash Management and Financing. The Business participates in UTC’s centralized cash management and financing programs. Disbursements are made through centralized accounts payable systems, which are operated by UTC. Cash receipts are transferred to centralized accounts, which are also maintained by UTC. As cash is received and disbursed by UTC, it is accounted for by the Business through UTC Net Investment. All short and long-term debt is financed by UTC, and financing decisions for wholly and majority owned subsidiaries are determined by UTC Treasury. See Note 2 – Basis of Presentation for additional information. The Business’ cash that is not included in the centralized cash management and financing programs is classified as Cash and cash equivalents on the Combined Balance Sheets. Accounts Receivable and Payable. Certain related party transactions between the Business and UTC have been included within UTC Net Investment in the Combined Balance Sheets in the historical periods presented when the related party transactions are not settled in cash. The UTC Net Investment includes related party receivables due from UTC and its affiliates of $16.0 billion and $15.1 billion as of December 31, 2019 and 2018, respectively. The UTC Net Investment includes related party payables due to UTC and its affiliates of $3.3 billion and $2.6 billion as of December 31, 2019 and 2018, respectively. The interest income and expense related to the activity with UTC that was included in Carrier’s results is presented on a net basis in the Combined Statements of Operations. Interest income on the activity with UTC was $91 million, $110 million and $85 million for the years ended December 31, 2019, 2018 and 2017, respectively. Interest expense on the activity with UTC was $55 million, $59 million and $202 million for the years ended December 31, 2019, 2018 and 2017, respectively. Included in interest expense for the year ended December 31, 2017 is $146 million related to a related party payable that was settled in November 2017. The total effect of the settlement of these related party transactions is reflected as a financing activity in the Combined Statements of Cash Flows. Additionally, certain transactions between Carrier and UTC and affiliate businesses are cash-settled on a current basis and, therefore, are reflected in the Combined Balance Sheets. Accounts receivable includes $6 million and $12 million at December 31, 2019 and 2018, respectively, and Accounts payable includes $4 million and $8 million at December 31, 2019 and 2018, respectively, related to such transactions. Guarantees. UTC and its affiliates have issued parent company guarantees to certain customers or other third parties regarding the performance obligations of Carrier under certain installation and long-term maintenance contracts. There were no costs charged to the Business by UTC related to these guarantees. Payouts under these guarantees were not significant for 2019, 2018 and 2017. UTC has also obtained guarantees from banks on behalf of Carrier to guarantee ordinary course of business performance obligations as required by certain Carrier customers or other third parties. Typically, such guarantees are in amounts equal to a portion or the entire value of the awarded contract and remain in place through the completion of a contract or warranty period. As of December 31, 2019 and 2018, total outstanding UTC guarantees were approximately $1.4 billion and $0.9 billion, respectively. The Business does not believe that the performance of the underlying obligations secured by such guarantees will have a material adverse effect on Carrier’s financial position, results of operations or cash flows. Third-party costs relating to bank guarantees are reflected in the results of operations. Equity Method Investments. Carrier sells products to and purchases products from uncombined entities accounted for under the equity method, which are considered to be related parties. See Note 16–Equity Method Investments for additional disclosure related to Carrier’s equity method investments and associated related party transactions. Separation Costs. In connection with the Separation as further described in Note 1, we have incurred pre-separation costs of approximately $58 million for the year ended December 31, 2019 and zero for both years ended December 31, 2018 and 2017. These costs were primarily related to employee-related costs such as recruitment and relocation expenses, costs to establish certain stand-alone functions and information technology systems, professional services fees and other transaction-related costs during Carrier’s transition to being a stand-alone public company and are primarily recorded within Selling, general and administrative in the Combined Statement of Operations.

ACCOUNTS RECEIVABLE, NET (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

ACCOUNTS RECEIVABLE, NET [Abstract]

ACCOUNTS RECEIVABLE, NET

NOTE 6: ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consisted of the following:

(dollars in millions)	September 30, 2020			December 31, 2019
Trade receivables	$	2,578		$	2,444
Receivables from affiliates		213			143
Other receivables		169			184
Accounts receivable		2,960			2,771
Less: Allowance for expected credit losses		(88	)		(45	)
Accounts receivable, net	$	2,872		$	2,726

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

(dollars in millions)
Balance as of January 1, 2020	$	45
Provision for expected credit losses		38
Write-offs charged against the allowance for expected credit losses		(2	)
Other (including impact of adoption of ASU 2016-13)		7
Balance as of September 30, 2020	$	88

NOTE 6: ACCOUNTS RECEIVABLE, NET

(dollars in millions)	2019			2018
Trade receivables	$	2,444		$	2,549
Receivables from affiliates		143			113
Miscellaneous receivables		184			152
	$	2,771		$	2,814
Less: Allowance for doubtful accounts		(45	)		(141	)
		2,726			2,673

INVENTORIES, NET (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

INVENTORIES, NET [Abstract]

INVENTORIES, NET

NOTE 7: INVENTORIES, NET

(dollars in millions)	September 30, 2020		December 31, 2019
Raw materials	$	248	$	290
Work-in-process		148		120
Finished goods		1,185		922
Inventories, net	$	1,581	$	1,332

Raw materials, work-in-process and finished goods are net of valuation reserves of $180 million and $152 million as of September 30, 2020 and December 31, 2019, respectively.

NOTE 7: INVENTORIES, NET

(dollars in millions)	2019		2018
Raw materials	$	290	$	336
Work-in-process		120		102
Finished goods		922		925
	$	1,332		1,363

Raw materials, work-in-process and finished goods are net of valuation reserves of $152 million and $142 million as of December 31, 2019 and 2018, respectively.

FIXED ASSETS, NET (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

FIXED ASSETS, NET [Abstract]

FIXED ASSETS, NET

NOTE 8: FIXED ASSETS, NET

Fixed assets are recorded at cost and are depreciated on a straight-line basis over their estimated useful lives.

(dollars in millions)	Estimated Useful Lives (Years)		September 30, 2020			December 31, 2019
Land			$	112		$	113
Buildings and improvements		40		1,129			1,138
Machinery, tools and equipment		3 to 25		2,047			1,924
Rental assets		3 to 12		404			395
Other, including assets under construction				187			188
Fixed assets, gross				3,879			3,758
Accumulated depreciation				(2,203	)		(2,095	)
Fixed assets, net			$	1,676		$	1,663

NOTE 8: FIXED ASSETS, NET

Fixed assets are recorded at cost and are depreciated on a straight-line basis over the estimated useful lives of individual assets.

(dollars in millions)	Estimated Useful Lives (Years)		2019			2018
Land			$	113		$	114
Buildings and improvements		40		1,138			1,142
Machinery, tools and equipment	3 to 25			1,924			1,815
Rental assets	3 to 12			395			293
Other, including assets under construction				188			180
				3,758			3,544
Accumulated depreciation				(2,095	)		(1,891	)
			$	1,663		$	1,653

Depreciation expense was $219 million, $221 million and $226 million for the years ended December 31, 2019, 2018 and 2017, respectively.

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS [Abstract]

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

NOTE 9: BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

Business Acquisitions and Dispositions. There were no significant acquisitions or divestitures during the three and nine months ended September 30, 2020 and 2019.

Goodwill. The changes in the carrying amount of goodwill are as follows:

(dollars in millions)	HVAC		Refrigeration		Fire & Security		Total
Balance as of January 1, 2020	$	5,351	$	1,228	$	3,305	$	9,884
Foreign currency translation		2		5		15		22
Balance as of September 30, 2020	$	5,353	$	1,233	$	3,320	$	9,906

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

	September 30, 2020					December 31, 2019
(dollars in millions)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,506	$	(1,223	)	$	1,479	$	(1,154	)
Patents and trademarks		293		(213	)		287		(201	)
Monitoring lines		67		(55	)		67		(52	)
Service portfolios and other		636		(528	)		629		(506	)
		2,502		(2,019	)		2,462		(1,913	)
Unamortized:
Trademarks and other		541		—			534		—
Intangible assets, net	$	3,043	$	(2,019	)	$	2,996	$	(1,913	)

Based upon the quantitative assessment performed, the fair value of indefinite lived trademarks was determined to exceed the carrying value, resulting in no impairment.

NOTE 9: BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS

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, 2018	$	5,472		$	1,417		$	3,176		$	10,065
Goodwill resulting from business combinations		—			1			194			195
Foreign currency translation and other		(142	)		(187	)		(82	)		(411	)
Balance as of December 31, 2018		5,330			1,231			3,288			9,849
Foreign currency translation and other		21			(3	)		17			35
Balance as of December 31, 2019	$	5,351		$	1,228		$	3,305		$	9,884

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

	2019					2018
(dollars in millions)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,479	$	(1,154	)	$	1,511	$	(1,098	)
Patents and trademarks		287		(201	)		292		(189	)
Monitoring lines		67		(52	)		64		(46	)
Service portfolios and other		629		(506	)		631		(490	)
		2,462		(1,913	)		2,498		(1,823	)
Unamortized:
Trademarks and other		534		—			539		—
Total	$	2,996	$	(1,913	)	$	3,037	$	(1,823	)

(dollars in millions)		2020				2021				2022				2023				2024
Future amortization		$	101			$	91			$	72			$	63			$	55

BORROWINGS AND LINES OF CREDIT (Q3)

9 Months Ended

Sep. 30, 2020

BORROWINGS AND LINES OF CREDIT [Abstract]

BORROWINGS AND LINES OF CREDIT

NOTE 10: BORROWINGS AND LINES OF CREDIT

On February 10, 2020, we entered into a revolving credit agreement with various banks permitting aggregate borrowings of up to $2.0 billion pursuant to an unsecured, unsubordinated revolving credit facility that matures on April 3, 2025 (the "revolving credit facility"). The revolving credit facility supports our commercial paper program and cash requirements. A commitment fee of 0.125% is charged on the unused commitments. Borrowings under 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 September 30, 2020. As of September 30, 2020, there were no borrowings under the revolving credit facility.

On February 10, 2020, we entered into a $1.75 billion term loan credit agreement that provides an unsecured, unsubordinated term loan credit facility which matures on February 10, 2023 (the "term loan credit facility”, and together with the revolving credit facility, the “credit facilities”).

On February 27, 2020, Carrier issued $9.25 billion of unsecured, unsubordinated long-term notes in six series with maturity dates ranging from 2023 through 2050. The notes were issued pursuant to an indenture between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee.

On March 27, 2020, Carrier drew $1.75 billion on the term loan credit facility. The proceeds from the notes and the term loan credit facility were used to distribute $10.9 billion to UTC in connection with the Separation.

The revolving credit facility, term loan credit facility and indenture contain affirmative and negative covenants customary for financings of this type, that among other things, limit Carrier and its subsidiaries' ability to incur additional liens, to make certain fundamental changes and to enter into sale and leaseback transactions. On June 2, 2020, the Company entered into amendments to both the revolving credit facility and the term loan credit facility. Pursuant to the amendments, certain terms of the revolving credit facility and the term loan credit facility were amended for a period beginning on June 2, 2020 and ending on December 30, 2021 (the "Covenant Modification Period"). The Company may terminate the amendment prior to December 30, 2021, subject to the satisfaction of certain conditions. The amendments defer testing of our consolidated total net leverage ratio financial covenant until June 30, 2021 and increase the consolidated total net leverage ratio limit until December 31, 2021. The amendments also require us to maintain liquidity at a certain level until the earlier of (1) June 29, 2021 and (2) the last day of the Covenant Modification Period. Additionally, during the Covenant Modification Period, the Company is subject to (a) limitations on the incurrence of subsidiary indebtedness, (b) limitations on the making of restricted payments, including purchases by the Company of its ordinary shares and the amount of dividends the Company may pay, and (c) a "most favored nations" provision related to certain terms of any committed credit facility in an amount greater than $100 million. As of September 30, 2020, we were compliant with our covenants under the agreements governing our outstanding indebtedness.

On June 19, 2020, we issued $750 million of unsecured, unsubordinated 2.700% Notes due 2031. These notes rank equally with our existing unsecured, unsubordinated obligations. The net proceeds from the sale of the notes, which further enhance our liquidity and financial flexibility during the ongoing COVID-19 pandemic, are being used for general corporate purposes.

As of September 30, 2020, we have a $2.0 billion unsecured, unsubordinated commercial paper program which we plan to use for general corporate purposes, including the funding of working capital and potential acquisitions. As of September 30, 2020, there were no borrowings outstanding under the commercial paper program.

Long-term debt, all of which was issued during the nine months ended September 30, 2020 except for Other long-term debt, consisted of the following:

(dollars in millions)
Debt Description	Interest Rate				September 30, 2020			December 31, 2019
3-Year Term Loan Credit Facility due February 10, 2023		1.275	%	¹	$	1,750	²	$	—
1.923% Notes due February 15, 2023		1.923	%			500	²		—
2.242% Notes due February 15, 2025		2.242	%			2,000	²		—
2.493% Notes due February 15, 2027		2.493	%			1,250	²		—
2.722% Notes due February 15, 2030		2.722	%			2,000	²		—
2.700% Notes due February 15, 2031		2.700	%			750			—
3.377% Notes due April 5, 2040		3.377	%			1,500	²		—
3.577% Notes due April 5, 2050		3.577	%			2,000	²		—
Other (including project financing obligations and finance leases)						309			319

Total principal long-term debt						12,059			319
Other (discounts and debt issuance costs)						(85	)		—
Total debt						11,974			319
Less: current portion of long-term debt						223			237
Long-term debt, net of current portion					$	11,751		$	82

¹ The interest rate on the term loan as of September 30, 2020 was 1.275% which is a variable rate based on one-month LIBOR plus 112.5 basis points.

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

We issued $102 million and $106 million of debt during the nine months ended September 30, 2020 and 2019, respectively, relating to project financing arrangements. Long-term debt repayments during the nine months ended September 30, 2020 and 2019 were $124 million and $98 million, respectively, relating to project financing arrangements.

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

(dollars in millions)
2020	$	223
2021	$	45
2022	$	40
2023	$	2,251
2024	$	—
Thereafter	$	9,500

The average maturity of our long-term debt as of September 30, 2020 is approximately 12 years and the weighted-average interest rate on our total borrowings for the three months ended September 30, 2020 is approximately 2.7%. Interest expense associated with long-term debt for the three and nine months ended September 30, 2020 was $90 million and $213 million, respectively. Included in Interest expense, net on the accompanying Unaudited Condensed Consolidated Statement of Operations is amortization of debt issuance costs of $2 million and $5 million, respectively, for the three and nine months ended September 30, 2020. Also included in Interest expense, net for the nine months ended September 30, 2020 are debt issuance costs of $5 million that were expensed in the three months ended March 31, 2020. Included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet was accrued interest of $127 million as of September 30, 2020.

EMPLOYEE BENEFIT PLANS (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

EMPLOYEE BENEFIT PLANS [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 11: EMPLOYEE BENEFIT PLANS

Contributions to the plans were as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
Defined benefit plans	$	1	$	2	$	29	$	29
Defined contribution plans	$	23	$	22	$	78	$	71
Multi-employer pension plans	$	5	$	5	$	15	$	15

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

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
Service cost	$	7		$	7		$	22		$	23
Interest cost		13			17			39			50
Expected return on plan assets		(35	)		(37	)		(104	)		(115	)
Amortization of prior service credit		1			—			2			1
Recognized actuarial net loss		5			2			15			7
Net settlement, curtailment and special termination benefit loss		—			—			1			1
Net periodic pension benefit	$	(9	)	$	(11	)	$	(25	)	$	(33	)

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020		2019			2020			2019
Service cost	$	—	$	4		$	—		$	13
Non-service pension benefit		—		(20	)		(2	)		(59	)
Total net periodic benefit	$	—	$	(16	)	$	(2	)	$	(46	)

NOTE 12: EMPLOYEE BENEFIT PLANS

(dollars in millions)	2019			2018
Change in Benefit Obligation
Beginning balance	$	2,581		$	2,822
Service cost		31			33
Interest cost		67			64
Actuarial (gain) loss		351			(110	)
Benefits paid		(132	)		(114	)
Net settlement, curtailment and special termination benefits		(38	)		(8	)
Other		25			(106	)
Ending balance	$	2,885		$	2,581

Change in Plan Assets
Beginning balance	$	2,635		$	3,000
Actual return on plan assets		381			(162	)
Employer contributions		36			45
Benefits paid		(132	)		(114	)
Settlements		(14	)		(7	)
Other		47			(127	)
Ending balance	$	2,953		$	2,635

Funded Status
Fair value of plan assets	$	2,953		$	2,635
Benefit obligations		(2,885	)		(2,581	)
Funded status of plan	$	68		$	54

(dollars in millions)	2019			2018

Amounts Recognized in the Combined Balance Sheets Consist of
Noncurrent assets	$	488		$	442
Current liability		(9	)		(16	)
Noncurrent liability		(411	)		(372	)
Net amount recognized	$	68		$	54

Amounts Recognized in Accumulated Other Comprehensive Loss Consist of
Net actuarial loss	$	577	$	482
Prior service cost		15		11
Net amount recognized	$	592	$	493

The amounts included in “Other” in the above table primarily reflect the impact of foreign exchange translation, primarily for plans in the U.K., Canada and Germany.

In 2019, 2018 and 2017, we made $36 million, $45 million and $44 million, respectively, of cash contributions to our foreign defined benefit pension plans.

Information for pension plans with accumulated benefit obligations in excess of plan assets:

(dollars in millions)	2019		2018
Projected benefit obligation	$	549	$	501
Accumulated benefit obligation		506		463
Fair value of plan assets		137		125

Information for pension plans with projected benefit obligations in excess of plan assets:

(dollars in millions)	2019		2018
Projected benefit obligation	$	690	$	616
Accumulated benefit obligation		630		564
Fair value of plan assets		270		228

The accumulated benefit obligation for all defined benefit pension plans was $2.8 billion and $2.5 billion at December 31, 2019 and 2018, respectively.

The components of the net periodic pension benefit are as follows:

(dollars in millions)	2019			2018			2017
Pension Benefits:
Service cost	$	31		$	33		$	34
Interest cost		67			64			65
Expected return on plan assets		(154	)		(170	)		(160	)
Amortization of prior service cost		2			1			2
Recognized actuarial net loss		9			16			14
Net settlement, curtailment and special termination benefits loss (gain)		4			1			(3	)
Net periodic pension benefit – employer	$	(41	)	$	(55	)	$	(48	)

Other changes in plan assets and benefit obligations recognized in other comprehensive loss in 2019 are as follows:

(dollars in millions)	2019
Current year actuarial loss	$	112
Amortization of actuarial loss		(9	)
Amortization of prior service cost		(2	)
Net settlement and curtailment gain		(4	)
Other		2
Total recognized in other comprehensive loss	$	99
Net recognized in net periodic pension benefit and other comprehensive loss	$	58

The amount included in “Other” in the above table primarily reflects the impact of foreign exchange translation, primarily for plans in the U.K., Canada and Germany.

The estimated amount that will be amortized from accumulated other comprehensive loss into net periodic pension benefit in 2020 is as follows:

(dollars in millions)
Net actuarial loss	$	18
Prior service cost		1
	$	19

Major assumptions used in determining the benefit obligation and net cost for pension plans are presented in the following table as weighted-averages:

	Benefit Obligation						Net Cost
(dollars in millions)	2019			2018			2019			2018			2017
Discount rate
Projected benefit obligation		2.0	%		2.8	%		2.8	%		2.5	%		2.7	%
Interest cost⁽¹⁾		—			—			2.7	%		2.4	%		2.5	%
Service cost⁽¹⁾		—			—			3.2	%		2.8	%		3.1	%
Salary scale		3.4	%		3.0	%		3.0	%		3.0	%		2.6	%
Expected return on plan assets		—			—			5.6	%		6.0	%		6.2	%

Note (1)

The fair values of pension plan assets at December 31, 2019 and 2018 by asset category are as follows:

(dollars in millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling		Total
Asset Category
Public Equities:
Global Equities	$	29	$	—	$	—	$	—	$	29
Global Equity Commingled Funds⁽¹⁾		—		141		—		—		141
Enhanced Global Equities⁽²⁾		3		3		—		—		6
Global Equity Funds at net asset value⁽⁸⁾		—		—		—		927		927
Private Equities^(3),(8)		—		—		2		10		12
Fixed income securities:
Governments		8		35		—		—		43
Corporate Bonds		—		169		—		—		169
Fixed income securities⁽⁸⁾		—		—		—		1,449		1,449
Real Estate^(4),(8)		—		3		12		6		21
Other^(5),(8)		—		68		—		23		91
Cash & cash equivalents^(6),(8)		—		3		—		44		47
Subtotal	$	40	$	422	$	14	$	2,459	$	2,935
Other Assets & Liability⁽⁷⁾										18
Total at December 31, 2019									$	2,953

Public Equities:
Global Equities	$	22	$	—	$	—	$	—	$	22
Global Equity Commingled Funds⁽¹⁾		1		115		—		—		116
Enhanced Global Equities⁽²⁾		1		4		—		—		5
Global Equity Funds at net asset value⁽⁸⁾		—		—		—		815		815
Private Equities^(3),(8)		—		—		1		9		10
Fixed income securities:
Governments		13		28		—		—		41
Corporate Bonds		—		136		—		—		136
Fixed income securities⁽⁸⁾		—		—		—		1,323		1,323
Real Estate^(4),(8)		—		3		10		13		26
Other^(5),(8)		—		63		—		18		81
Cash & cash equivalents^(6),(8)		—		7		—		37		44
Subtotal	$	37	$	356	$	11	$	2,215	$	2,619
Other Assets & Liability⁽⁷⁾										16
Total at December 31, 2018									$	2,635

Note (1)

Represents commingled funds that invest primarily in common stocks.

Note 2

Note 3

Represents limited partner investments with general partners that primarily invest in debt and equity.

Note 4

Represents investments in real estate including commingled funds and directly held properties.

Note 5

Represents insurance contracts and global balanced risk commingled funds consisting mainly of equity, bonds and some commodities.

Note 6

Represents short-term commercial paper, bonds and other cash or cash-like instruments.

Note 7

Represents trust receivables and payables that are not leveled.

Note 8

The projected benefit obligation discount rate was 3.0% and 3.6% at December 31, 2019 and 2018, respectively. The Net Cost discount rate was 3.6%, 3.4% and 3.7% for 2019, 2018 and 2017, respectively.

(dollars in millions)	EIN/ Pension Plan Number		Zone Status		FIP/ RP Status Pending/ Implemented	Contributions				Surcharge Imposed	Expiration Date of Collective- Bargaining Agreement
Pension Fund			2019	2018		2019		2018
Metal and technology industry pension plan		N/A	Green	Green	No	$	6	$	6	No	September 30, 2021
Other funds							14		15
						$	20	$	21

(dollars in millions)	2019			2018			2017
Service cost	$	18		$	22		$	23
Non-service pension cost		(81	)		(80	)		(57	)
	$	(63	)	$	(58	)	$	(34	)

- Definition

The entire disclosure for retirement benefits.

+ References

+ Details

STOCK-BASED COMPENSATION (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

STOCK-BASED COMPENSATION [Abstract]

STOCK-BASED COMPENSATION

NOTE 12: STOCK-BASED COMPENSATION

Carrier LTIP activity for the nine months ended September 30, 2020 was as follows:

	Stock Options and Stock Appreciation Rights					Performance Share Units					Restricted Share Units
(shares and units in thousands)	Shares			Average Price ¹		Units			Average Price ²		Units			Average Price²
Outstanding as of April 3, 2020 ³		36,015		$	19.90		68		$	21.23		5,622		$	21.37
Granted		3,753		$	16.62		728		$	18.23		443		$	18.98
Exercised		(984	)	$	15.52		—		$	—		(116	)	$	20.42
Forfeited/Cancelled		(509	)	$	22.73		(22	)	$	19.25		(108	)	$	22.25
Outstanding as of September 30, 2020		38,275		$	19.66		774		$	18.48		5,841		$	21.27

¹ Weighted-average exercise price

² Weighted-average grant date fair value

³Effective date of conversion upon the Separation

The weighted-average fair value of stock appreciation rights granted during the nine months ended September 30, 2020 was $4.36.

The following table summarizes outstanding Carrier LTIP awards that are vested and expected to vest (adjusted for expected forfeitures) and that are exercisable at September 30, 2020:

	Equity Awards Vested and Expected to Vest								Equity Awards That Are Exercisable
(shares and units in thousands; aggregate intrinsic value in dollars in thousands)	Awards		Average Price ¹		Aggregate Intrinsic Value		Remaining Life²		Awards		Average Price ¹		Aggregate Intrinsic Value		Remaining Life²
Stock Options/ Stock Appreciation Rights		36,868	$	19.61	$	403,105		6.7		16,173	$	16.97	$	219,447		4.2
Performance Share Units/ Restricted Stock Units		6,291	$	20.96	$	192,116		1.8

¹ Weighted-average exercise price per share

	For the Nine Months Ended September 30, 2020
Volatility		35.6	%
Expected life (in years)		7.0
Expected dividend yield		2.0	%
Range of risk-free rate		0.1% - 1.0	%

A summary of the transactions under all long-term incentive plans that UTC granted to Carrier employees for the year ended December 31, 2019 follows:

	Stock Options					Stock Appreciation Rights					Performance Share Units					Other Incentive
(shares and units in thousands)	Shares			Average Price*		Shares			Average Price*		Units			Average Price*		Shares/ Units
Outstanding at
December 31, 2018		71		$	85.86		5,635		$	100.16		289		$	110.59		499
Granted		2			133.19		1,673			124.37		142			121.79		219
Ancillary**		—			—		—			—		18			95.53		—
Exercised/earned		(35	)		87.18		(1,658	)		89.30		(155	)		95.54		(211	)
Cancelled		(1	)		110.83		(157	)		120.41		(25	)		112.39		(35	)
Net Transfers⁽¹⁾		(1	)		95.23		665			105.29		93			108.91		121
December 31, 2019		36		$	91.06		6,158		$	109.71		362		$	120.16		593

*	Weighted-average grant/exercise price

**	Ancillary shares granted based on actual performance achieved on the 2016 award

Note (1)

Represents net activity related to employee movement between UTC business units and other miscellaneous adjustments.

	Equity Awards Vested and Expected to Vest											Equity Awards That Are Exercisable
(shares in thousands; aggregate intrinsic value in millions)	Awards		Average Price^*		Aggregate Intrinsic Value		Remaining Term^**	Awards		Average Price^*		Aggregate Intrinsic Value		Remaining Term^**
Stock Options/Stock Appreciation rights		6,083	$	109.31	$	246	6.1 years		3,333	$	98.4	$	171	4.3 years
Performance Share Units/ Restricted Stock		1,006	$	—	$	151	1.7 years

*	Weighted-average exercise price per share

**	Weighted-average contractual remaining term in years

	2019			2018			2017
Expected volatility		18.8% - 19.7	%		17.5% - 21.1	%		19	%
Weighted-average volatility		20	%		18	%		19	%
Expected term (in years)		6.5 - 6.6			6.5-6.6			6.5
Expected dividend yield		2.4	%		2.2	%		2.4	%
Risk-free rate		2.3% - 2.7	%		1.3% - 2.7	%		0.5% - 2.5	%

ACCUMULATED OTHER COMPREHENSIVE LOSS (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

NOTE 13: ACCUMULATED OTHER COMPREHENSIVE LOSS

A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the three and nine months ended September 30, 2020 and 2019 is as follows:

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Post- retirement Plans			Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2020
Balance as of June 30, 2020	$	(1,018	)	$	(461	)	$	(1,479	)
Other comprehensive income before reclassifications, net		302			—			302
Amounts reclassified, pre-tax		—			6			6
Tax expense reclassified		—			(1	)		(1	)
Balance as of September 30, 2020	$	(716	)	$	(456	)	$	(1,172	)

Nine Months Ended September 30, 2020
Balance as of January 1, 2020	$	(780	)	$	(473	)	$	(1,253	)
Other comprehensive income before reclassifications, net		64			2			66
Amounts reclassified, pre-tax		—			18			18
Tax benefit reclassified		—			(3	)		(3	)
Balance as of September 30, 2020	$	(716	)	$	(456	)	$	(1,172	)

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Post- retirement Plans			Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2019
Balance as of June 30, 2019	$	(821	)	$	(381	)	$	(1,202	)
Other comprehensive loss before reclassifications, net		(274	)		—			(274	)
Amounts reclassified, pre-tax		—			2			2
Balance as of September 30, 2019	$	(1,095	)	$	(379	)	$	(1,474	)

Nine Months Ended September 30, 2019
Balance as of January 1, 2019	$	(834	)	$	(381	)	$	(1,215	)
Other comprehensive (loss) income before reclassifications, net		(261	)		2			(259	)
Amounts reclassified, pre-tax		—			9			9
ASU 2018-02 adoption impact		—			(9	)		(9	)
Balance as of September 30, 2019	$	(1,095	)	$	(379	)	$	(1,474	)

NOTE 13: ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

A summary of the changes in each component of accumulated other comprehensive (loss) income, net of tax for the years ended December 31, 2019, 2018 and 2017 is provided below:

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Postretirement Plans			Unrealized Gains (Losses) on Available- for-Sale Securities			Unrealized Hedging Gains (Losses)			Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2017	$	(1,130	)	$	(211	)	$	262		$	(5	)	$	(1,084	)
Other comprehensive income (loss) before reclassifications, net		747			(32	)		(31	)		2			686
Amounts reclassified, pre-tax		(10	)		16			(394	)		1			(387	)
Tax expense reclassified		—			5			163			—			168
Balance at December 31, 2017	$	(393	)	$	(222	)	$	—		$	(2	)	$	(617	)
Other comprehensive loss before reclassifications, net		(441	)		(209	)		—			—			(650	)
Amounts reclassified, pre-tax		—			17			—			2			19
Tax expense reclassified		—			33			—			—			33
Balance at December 31, 2018	$	(834	)	$	(381	)	$	—		$	—		$	(1,215	)
Other comprehensive loss before reclassifications, net		52			(109	)		—			—			(57	)
Amounts reclassified, pre-tax		2			11			—			—			13
Tax expense reclassified		—			15			—			—			15
ASU 2018-02 adoption impact		—			(9	)		—			—			(9	)
Balance at December 31, 2019	$	(780	)	$	(473	)	$	—		$	—		$	(1,253	)

INCOME TAXES (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 14: INCOME TAXES

Income Before Income Taxes: The sources of income from operations before income taxes are:

(dollars in millions)	2019		2018		2017
United States	$	1,460	$	2,360	$	1,620
Foreign	$	1,212	$	1,482	$	1,434
Total	$	2,672	$	3,842	$	3,054

Provision for Income Taxes

The income tax expense (benefit) for the years ended December 31, 2019, 2018 and 2017 consisted of the following components:

(dollars in millions)	2019			2018			2017
Current:
United States:
Federal	$	262		$	479			1,318
State		72			119			99
Foreign		305			342			342
		639			940			1,759
Future:
United States:
Federal		(14	)		(37	)		22
State		(2	)		24			2
Foreign		(106	)		146			4
		(122	)		133			28
Income tax expense		517			1,073			1,787
Attributable to items credited to UTC Net Investment	$	(36	)	$	(68	)	$	(168	)

Reconciliation of Effective Income Tax Rate. Differences between the effective income tax rates and the statutory U.S. federal income tax rate are as follows:

(dollars in millions)	2019			2018			2017
Statutory U.S. federal income tax rate		21.0	%		21.0	%		35.0	%
State income taxes		2.5	%		2.6	%		1.8	%
Tax on international activities		2.5	%		4.4	%		(3.4	)%
Tax audit settlements		(5.6	)%		—	%		(0.4	)%
U.S. tax reform adoption		—	%		—	%		26.1	%
Other		(1.0	)%		(0.1	)%		(0.6	)%
Effective income tax rate		19.4	%		27.9	%		58.5	%

The tax effects of temporary differences and tax carryforwards which gave rise to future income tax benefits and payables at December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Future income tax benefits:
Insurance and employee benefits	$	76		$	76
Other asset basis differences		128			126
Other liability basis differences		556			331
Tax loss carryforward		236			159
Tax credit carryforwards		55			60
Valuation allowances		(128	)		(107	)
	$	923		$	645

Future income taxes payable:
Intangible assets	$	392		$	403
Other asset basis differences		297			165
	$	689		$	568

Tax Credit and Loss Carryforwards. At December 31, 2019, tax credit carryforwards, principally state and foreign, and tax loss carryforwards, principally state and foreign, were as follows:

(dollars in millions)	Tax Loss Carryforwards		Tax Credit Carryforwards
Expiration period:
2020-2024	$	52	$	8
2025-2029		105		3
2030-2039		41		1
Indefinite		882		43
Total	$	1,080	$	55

(dollars in millions)	2019			2018			2017
Balance at January 1	$	316		$	290		$	243
Additions for tax positions related to the current year		30			27			54
Additions for tax positions of prior years		14			3			17
Reductions for tax positions of prior years		(19	)		(4	)		(20	)
Settlements		(175	)		—			(4	)
Balance at December 31	$	166		$	316		$	290
Gross interest expense related to unrecognized tax benefits	$	8		$	8		$	4
Total accrued interest balance at December 31	$	25		$	33		$	24

- Definition

+ References + Details

RESTRUCTURING COSTS (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

RESTRUCTURING COSTS [Abstract]

RESTRUCTURING COSTS

NOTE 15: RESTRUCTURING COSTS

During the three and nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020			2019		2020		2019
HVAC	$	—		$	12	$	3	$	47
Refrigeration		(1	)		7		2		14
Fire & Security		4			14		13		35
Eliminations and other		—			1		1		1
Total restructuring costs	$	3		$	34	$	19	$	97

Restructuring charges incurred during the nine months ended September 30, 2020 and 2019 primarily relate to actions initiated during 2020 and 2019, and were recorded as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020			2019		2020		2019
Cost of sales	$	(1	)	$	14	$	5	$	27
Selling, general and administrative		4			20		14		70
Total restructuring costs	$	3		$	34	$	19	$	97

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
For the Three Months Ended September 30, 2020
Restructuring accrual as of June 30, 2020	$	8		$	1	$	9
Net pre-tax restructuring costs		5			—		5
Utilization, foreign exchange and other costs		(4	)		—		(4	)
Balance as of September 30, 2020	$	9		$	1	$	10

For the Nine Months Ended September 30, 2020
Restructuring accrual as of January 1, 2020	$	—		$	—	$	—
Net pre-tax restructuring costs		17			1		18
Utilization, foreign exchange and other costs		(8	)		—		(8	)
Balance as of September 30, 2020	$	9		$	1	$	10

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

(dollars in millions)	Expected Costs		Costs Incurred - Three Months Ended March 31, 2020			Costs Incurred - Three Months Ended June 30, 2020			Costs Incurred - Three Months Ended September 30, 2020			Remaining Costs at September 30, 2020
HVAC	$	5	$	(1	)	$	(2	)	$	(1	)	$	1
Refrigeration		3		—			(3	)		—			—
Fire & Security		13		(1	)		(5	)		(4	)		3
Eliminations and other		1		—			(1	)		—			—
Total	$	22	$	(2	)	$	(11	)	$	(5	)	$	4

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
For the Three Months Ended September 30, 2020
Restructuring accrual as of June 30, 2020	$	27		$	—		$	27
Net pre-tax restructuring costs		—			—			—
Utilization, foreign exchange and other costs		(5	)		—			(5	)
Balance as of September 30, 2020	$	22		$	—		$	22

For the Nine Months Ended September 30, 2020
Restructuring accrual as of January 1, 2020	$	43		$	1		$	44
Net pre-tax restructuring costs		3			—			3
Utilization, foreign exchange and other costs		(24	)		(1	)		(25	)
Balance as of September 30, 2020	$	22		$	—		$	22

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

(dollars in millions)	Expected Costs		Costs Incurred in 2019			Costs Incurred - Three Months Ended March 31, 2020			Costs Incurred - Three Months Ended June 30, 2020			Costs Incurred - Three Months Ended September 30, 2020			Remaining Costs at September 30, 2020
HVAC	$	53	$	(51	)	$	(1	)	$	2		$	(1	)	$	2
Refrigeration		16		(14	)		—			(1	)		1			2
Fire & Security		49		(43	)		(2	)		(1	)		—			3
Eliminations and other		2		(2	)		—			—			—			—
Total	$	120	$	(110	)	$	(3	)	$	—		$	—		$	7

NOTE 15: RESTRUCTURING COSTS

(dollars in millions)	2019		2018		2017
HVAC	$	56	$	20	$	36
Refrigeration		14		23		13
Fire & Security		53		34		57
Eliminations and other		3		3		5
Total	$	126	$	80	$	111

Restructuring charges incurred in the years ended December 31, 2019, 2018 and 2017 primarily relate to actions initiated during 2019, 2018 and 2017, and were recorded as follows:

(dollars in millions)	2019		2018		2017
Cost of sales	$	36	$	36	$	48
Selling, general, & administrative		90		44		63
Total	$	126	$	80	$	111

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

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2019	$	—		$	—		$	—
Net pre-tax restructuring costs		102			8			110
Utilization, foreign exchange and other costs		(60	)		(7	)		(67	)
Balance at December 31, 2019	$	42		$	1		$	43

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

(dollars in millions)	Expected Costs		Costs Incurred During 2019			Remaining Costs at December 31, 2019
HVAC	$	53	$	(51	)	$	2
Refrigeration		16		(14	)		2
Fire & Security		49		(43	)		6
Eliminations and other		2		(2	)		—
Total	$	120	$	(110	)	$	10

The following table summarizes the accrual balances and utilization by cost type for the 2018 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2018	$	—		$	—		$	—
Net pre-tax restructuring costs		57			6			63
Utilization, foreign exchange and other costs		(26	)		(4	)		(30	)
Balance at December 31, 2018	$	31		$	2		$	33
Net pre-tax restructuring costs		8			8			16
Utilization, foreign exchange and other costs		(30	)		(9	)		(39	)
Balance at December 31, 2019	$	9		$	1		$	10

The following table summarizes expected, incurred and remaining costs for the 2018 restructuring actions by segment:

(dollars in millions)	Expected Costs		Costs Incurred During 2018			Costs Incurred During 2019			Remaining Costs at December 31, 2019
HVAC	$	24	$	(17	)	$	(7	)	$	—
Refrigeration		26		(21	)		—			5
Fire & Security		34		(22	)		(9	)		3
Eliminations and other		3		(3	)		—			—
Total	$	87	$	(63	)	$	(16	)	$	8

The following table summarizes the accrual balances and utilization by cost type for the 2017 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2017	$	—		$	—		$	—
Net pre-tax restructuring costs		74			2			76
Utilization, foreign exchange and other costs		(33	)		(1	)		(34	)
Balance at December 31, 2017		41			1			42
Net pre-tax restructuring costs		(4	)		5			1
Utilization, foreign exchange and other costs		(26	)		(1	)		(27	)
Balance at December 31, 2018		11			5			16
Net pre-tax restructuring costs		(1	)		1			—
Utilization, foreign exchange and other costs		(7	)		(1	)		(8	)
Balance at December 31, 2019	$	3		$	5		$	8

As of December 31, 2019, remaining expected costs related to 2017 restructuring programs are not significant.

GUARANTEES (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

GUARANTEES [Abstract]

GUARANTEES

NOTE 16: GUARANTEES

	For the Nine Months Ended September 30,
(dollars in millions)	2020			2019
Balance as of January 1	$	488		$	473
Warranties, performance guarantees issued and changes in estimated liability		131			133
Settlements made		(111	)		(126	)
Other		1			(2	)
Balance as of September 30	$	509		$	478

NOTE 18: GUARANTEES

(dollars in millions)	2019			2018
Balance as of January 1	$	473		$	500
Warranties and performance guarantees issued		182			171
Settlement made		(164	)		(191	)
Other		(3	)		(7	)
Balance as of December 31	$	488		$	473

FAIR VALUE MEASUREMENTS (Q3)

9 Months Ended

Sep. 30, 2020

FAIR VALUE MEASUREMENTS [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 17: FAIR VALUE MEASUREMENTS

We invest a portion of our Cash and cash equivalents in money market mutual funds with original maturities of less than three months. We manage foreign currency transaction exposures through operational strategies and the use of foreign currency hedging contracts. In accordance with the provisions of ASC Topic 820 – Fair Value Measurement, the following tables provide the valuation hierarchy classification of assets and liabilities that are recorded at fair value and measured on a recurring basis in our Unaudited Condensed Consolidated Balance Sheet:

September 30, 2020
(dollars in millions)	Total				Level 1		Level 2			Level 3
Recurring fair value measurement:
Money market mutual funds	$	38		1	$	—	$	38		$	—
Derivative assets	$	15		2	$	—	$	15		$	—
Derivative liabilities	$	(33	)	3	$	—	$	(33	)	$	—

¹ Included in Cash and cash equivalents on the accompanying Unaudited Condensed Consolidated Balance Sheet

² Included in Other assets, current on the accompanying Unaudited Condensed Consolidated Balance Sheet

³ Included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet

Valuation Techniques. Our derivative assets and liabilities are measured at fair value using internal models based on observable market inputs, such as forward rate, interest rate, contract rate and discount rate.

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

	September 30, 2020				December 31, 2019
(dollars in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Current and long-term debt (excluding finance leases)	$	11,969	$	12,531	$	313	$	313

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

September 30, 2020
(dollars in millions)	Total		Level 1		Level 2		Level 3
Current and long-term debt (excluding finance leases)	$	12,531	$	10,478	$	—	$	2,053

December 31, 2019
(dollars in millions)	Total		Level 1		Level 2		Level 3
Current and long-term debt (excluding finance leases)	$	313	$	—	$	—	$	313

Valuation Techniques. Based on the information available as of September 30, 2020, the fair value of the term loan credit facility was estimated on the basis of the present value of the expected future cash flows contractually due in accordance with the terms of the term loan credit agreement, a Level 3 measurement. The cash flows were discounted using the LIBOR rate at the valuation date based on the terms of the term loan credit agreement and adjusted for any change in credit risk premium. At September 30, 2020, the project financing obligations included in Long-term debt approximate fair value. During the three months ended September 30, 2020 and 2019, there were no transfers in or out of Levels 1, 2 or 3.

The following table presents changes during the nine months ended September 30, 2020 and 2019 in Level 3 liabilities not measured at fair value on a recurring basis:

	For the Nine Months Ended September 30,
(dollars in millions)	2020			2019
Fair value as of January 1	$	313		$	291
Issuances, including interest on project financing obligations		1,865			118
Settlements		(125	)		(98	)
Fair value as of September 30	$	2,053		$	311

- 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

COMMITMENTS AND CONTINGENT LIABILITIES (Q3)	9 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENT LIABILITIES (Q3)	Sep. 30, 2020	Dec. 31, 2019
COMMITMENTS AND CONTINGENT LIABILITIES [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 18: COMMITMENTS AND CONTINGENT LIABILITIES The Company is unable to predict the final outcome of the following matters based on the information currently available except as otherwise noted. However, the Company does not believe that the resolution of any of these matters will have a material adverse effect upon our competitive position, results of operations, cash flows or financial condition. Environmental. The Company’s operations are subject to environmental regulation by various authorities. We have accrued for the costs of environmental remediation activities, including but not limited to investigatory, remediation, operating and maintenance costs and performance guarantees, and we periodically reassess these amounts. Management believes that the likelihood of incurring losses materially in excess of the amounts accrued is remote. As of September 30, 2020 and December 31, 2019, the outstanding liability for environmental obligations was $233 million and $217 million, respectively, of which $13 million and $14 million, respectively, is included in Accrued liabilities and $220 million and $203 million, respectively, is included in Other long-term liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet. Legal Proceedings. Asbestos Matters – The Company and its consolidated subsidiaries have been named as defendants in lawsuits alleging personal injury as a result of exposure to asbestos allegedly integrated into certain Carrier products or business premises. While the Company has never manufactured asbestos and no longer incorporates it into any currently-manufactured products, certain products that Carrier no longer manufactures contained components incorporating asbestos. A substantial majority of these asbestos-related claims have been dismissed without payment or were covered in full or in part by insurance or other forms of indemnity. Additional cases were litigated and settled without any insurance reimbursement. The amounts involved in asbestos-related claims were not material individually or in the aggregate in any period. The amounts recorded for asbestos-related liabilities are based on currently available information and assumptions that we believe are reasonable and are made with input from outside actuarial experts. As of September 30, 2020, the estimated range of liability to resolve all pending and unasserted potential future asbestos claims through 2059 is approximately $250 million to $290 million. Where no amount within a range of estimates is more likely, the minimum is accrued. We have recorded the minimum amount of $250 million and $255 million, which is principally recorded in Other long-term liabilities on the Unaudited Condensed Consolidated Balance Sheet, as of September 30, 2020 and December 31, 2019, respectively. These amounts are undiscounted and exclude the Company’s legal fees to defend the asbestos claims, which are expensed as incurred. In addition, the Company has recorded an insurance recovery receivable for probable asbestos-related recoveries of approximately $104 million and $104 million, which is included primarily in Other assets on the Unaudited Condensed Consolidated Balance Sheet, as of September 30, 2020 and December 31, 2019, respectively. UTC Equity Awards Conversion Litigation. On August 12, 2020, several former employees of UTC or its subsidiaries filed a putative class action complaint in the United States District Court for the District of Connecticut against UTC, Carrier, and Otis, the former members of the UTC Board of Directors, and the members of the Carrier and Otis Boards of Directors (Geraud Darnis, et al. v. Raytheon Technologies Corporation, et al.). The complaint challenges the method by which UTC equity awards were converted to UTC, Carrier, and Otis equity awards following the separation of UTC into three independent, publicly traded companies on April 3, 2020. The complaint claims that the defendants are liable for breach of certain equity compensation plans and for breach of fiduciary duty, and also asserts claims under certain provisions of Employee Retirement Income Security Act of 1974 ("ERISA"). Carrier believes that the claims against the Company are without merit. Income Taxes. As described in Note 1 – Description of the Business, under the TMA the Company is responsible to UTC for its share of the TCJA transition tax associated with foreign undistributed earnings as of December 31, 2017. As of September 30, 2020, a liability of $72 million, primarily related to our share of TCJA transition tax associated with foreign undistributed earnings is included within Other long-term liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet. We believe that the likelihood of incurring losses materially in excess of this amount is remote. Other. As described in Note 16 – Guarantees, the Company extends performance and operating cost guarantees beyond the normal warranty and service policies for extended periods on some of its products. The Company typically accrues its estimate of the liability that may result under these guarantees and for service costs that are probable and can be reasonably estimated. The Company has other commitments and contingent liabilities related to legal proceedings, self-insurance programs and matters arising in the ordinary course of business. The Company accrues for contingencies generally based upon a range of possible outcomes. If no amount within the range is a better estimate than any other, the Company accrues the minimum amount. In the ordinary course of business, Carrier is routinely a defendant in, party to or otherwise subject to pending and threatened legal actions, claims, disputes and proceedings. These matters are often based on alleged violations of contract, product liability, warranty, regulatory, environmental, health and safety, employment, intellectual property, tax and other laws. In some of these proceedings or instances, claims for substantial monetary damages are asserted against the Company and its subsidiaries and could result in fines, penalties, compensatory or treble damages or non-monetary relief. We do not believe that these matters will have a material adverse effect upon our competitive position, results of operations, cash flows or financial condition.	NOTE 20: CONTINGENT LIABILITIES Except as otherwise noted, while the Business is unable to predict the final outcome, based on information currently available, the Business does not believe that resolution of any of the following matters will have a material adverse effect upon the Business’ competitive position, results of operations, cash flows or financial condition. Environmental. The Business’ operations are subject to environmental regulation by authorities with jurisdiction over its operations. As described in Note 3 to the Combined Financial Statements, the Business has accrued for the costs of environmental remediation activities, including but not limited to investigatory, remediation, operating and maintenance costs and performance guarantees, and periodically reassesses these amounts. Management believes that the likelihood of incurring losses materially in excess of amounts accrued is remote. As of December 31, 2019 and 2018, the outstanding liability for environmental obligations was $217 million and $215 million, respectively, of which $14 million and $15 million is included in Accrued liabilities and $203 million and $200 million is included in Other long-term liabilities in the accompanying Combined Balance Sheets. Legal Proceedings. Asbestos Matters — The Business and its combined subsidiaries have been named as defendants in lawsuits alleging personal injury as a result of exposure to asbestos integrated into certain of Carrier’s products or business premises. While the Business has never manufactured asbestos and no longer incorporates it in any currently-manufactured products, certain of Carrier’s historical products, have 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 year. 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. The estimated range of total liabilities 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 Combined Balance Sheet as of December 31, 2019. This amount is on a pre-tax basis, not discounted, and excludes the Business’ legal fees to defend the asbestos claims, which will continue to be expensed by the Business as they are incurred. In addition, the Business has an insurance recovery receivable for probable asbestos related recoveries of approximately $104 million, which is included primarily in Other assets on the Combined Balance Sheet as of December 31, 2019. Other. As described in Note 18 to the Combined Financial Statements, the Business extends performance and operating cost guarantees beyond the normal warranty and service policies for extended periods on some of the products. The Business 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. For further discussion and rollforward related warranties, see Note 18 — Guarantees. The Business also has other commitments and contingent liabilities related to legal proceedings and matters arising out of the ordinary course of business. The Business accrues contingencies based upon a range of possible outcomes. If no amount within this range is a better estimate than any other, then the Business accrues the minimum amount. In the ordinary course of business, Carrier is also routinely a defendant in, party to or otherwise subject to many 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 Business and its subsidiaries and could result in fines, penalties, compensatory or treble damages or non-monetary relief. The Business does not believe that these matters will have a material adverse effect upon its competitive position, results of operations, cash flows or financial condition.

SEGMENT FINANCIAL DATA (Q3)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

SEGMENT FINANCIAL DATA [Abstract]

SEGMENT FINANCIAL DATA

NOTE 19: SEGMENT FINANCIAL DATA

Carrier’s operations are classified into three segments: HVAC, Refrigeration and Fire & Security.

Segment Information. Segment information for the periods presented are as follows:

	Net Sales						Operating Profit
	For the Three Months Ended September 30,						For the Three Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
HVAC	$	2,892		$	2,602		$	839		$	404
Refrigeration		876			922			103			125
Fire & Security		1,324			1,402			200			205
Total segment		5,092			4,926			1,142			734
Eliminations and other		(90	)		(104	)		(31	)		(63	)
General corporate expenses		—			—			(30	)		(42	)
Consolidated	$	5,002		$	4,822		$	1,081		$	629

	Net Sales						Operating Profit
	For the Nine Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
HVAC	$	7,142		$	7,505		$	1,364		$	1,242
Refrigeration		2,384			2,839			263			373
Fire & Security		3,587			4,078			426			521
Total segment		13,113			14,422			2,053			2,136
Eliminations and other		(251	)		(315	)		(122	)		(95	)
General corporate expenses		—			—			(93	)		(107	)
Consolidated	$	12,862		$	14,107		$	1,838		$	1,934

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
United States Operations	$	2,780	$	2,541	$	6,983	$	7,473
International Operations
Europe		1,307		1,313		3,455		3,906
Asia Pacific		715		729		1,879		2,079
Other		200		239		545		649
Consolidated	$	5,002	$	4,822	$	12,862	$	14,107

Products sales and Service sales. Segment sales disaggregated by product and service are as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
Sales Type
Product	$	2,547		$	2,224		$	6,180		$	6,455
Service		345			378			962			1,050
HVAC sales		2,892			2,602			7,142			7,505
Product		771			823			2,093			2,551
Service		105			99			291			288
Refrigeration sales		876			922			2,384			2,839
Product		965			1,055			2,587			3,011
Service		359			347			1,000			1,067
Fire & Security sales		1,324			1,402			3,587			4,078
Total segment sales		5,092			4,926			13,113			14,422
Eliminations and other		(90	)		(104	)		(251	)		(315	)
Consolidated	$	5,002		$	4,822		$	12,862		$	14,107

NOTE 21: SEGMENT FINANCIAL DATA

	Net sales									Operating profit
(dollars in millions)	2019			2018			2017			2019			2018			2017
HVAC	$	9,712		$	9,713		$	9,045		$	1,563		$	1,720		$	2,001
Refrigeration		3,792			4,095			3,823			532			1,353			562
Fire & Security		5,500			5,531			5,324			708			726			639
Total Segment		19,004			19,339			18,192			2,803			3,799			3,202
Eliminations and other		(396	)		(425	)		(378	)		(156	)		(24	)		(32	)
General corporate expenses		—			—			—			(156	)		(138	)		(140	)
Combined	$	18,608		$	18,914		$	17,814		$	2,491		$	3,637		$	3,030

Total assets are not presented for each segment as they are not presented to or reviewed by the CODM.

	Segment Assets								Capital Expenditures						Depreciation & Amortization
(dollars in millions)	2019		2018			2017			2019		2018		2017		2019		2018		2017
HVAC	$	1,953	$	1,844		$	1,630		$	150	$	149	$	148	$	160	$	164	$	173
Refrigeration		989		998			1,017			30		40		36		34		36		33
Fire & Security		1,728		1,764			1,698			50		45		50		123		141		152
Total Segment		4,670		4,606			4,345			230		234		234		317		341		358
Eliminations and other		10		(4	)		(10	)		13		29		92		18		16		14
Combined	$	4,680	$	4,602		$	4,335		$	243	$	263	$	326	$	335	$	357	$	372
Cash and cash equivalents		952		1,129			1,324
Other assets, current		327		378			341
Total Current Assets	$	5,959	$	6,109		$	6,000

	External Net sales						Long-Lived Assets
(dollars in millions)	2019		2018		2017		2019		2018		2017
United States Operations	$	9,594	$	9,415	$	8,686	$	701	$	700	$	727
International Operations:
Europe		5,327		5,711		5,323		439		451		480
Asia Pacific		2,813		2,853		2,782		241		244		222
Other		874		935		1,023		282		258		255
	$	18,608	$	18,914	$	17,814	$	1,663	$	1,653	$	1,684

Segment sales disaggregated by product versus service for the year ended December 31, 2019, 2018 and 2017 are as follows:

(dollars in millions)	2019			2018			2017
Sales Type
Product	$	8,279		$	8,395		$	7,902
Service		1,433			1,318			1,143
Total HVAC sales		9,712			9,713			9,045
Product		3,405			3,665			3,427
Service		387			430			396
Total Refrigeration sales		3,792			4,095			3,823
Product		4,072			4,039			3,824
Service		1,428			1,492			1,500
Total Fire & Security sales		5,500			5,531			5,324
Total segment sales		19,004			19,339			18,192
Eliminations and other		(396	)		(425	)		(378	)
Combined	$	18,608		$	18,914		$	17,814

Major Customers. There were no customers that individually accounted for 10% or more of the Business’ combined Net sales for the years ended December 31, 2019, 2018 and 2017.

- Definition

+ References

+ Details

SUBSEQUENT EVENTS (Q3)	9 Months Ended	12 Months Ended
SUBSEQUENT EVENTS (Q3)	Sep. 30, 2020	Dec. 31, 2019
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 20: SUBSEQUENT EVENTS On October 15, 2020, the Board of Directors declared a dividend of $0.08 per share of common stock payable November 23, 2020 to shareowners of record at the close of business on October 30, 2020.	NOTE 22: SUBSEQUENT EVENTS The Business evaluated events and transactions occurring subsequent to December 31, 2019 through February 7, 2020, the date the Combined Financial Statements were issued and concluded that there were no subsequent events that required recognition or disclosure. Events Subsequent to Original Issuance of Combined Financial Statements (Unaudited) In connection with the reissuance of the Combined Financial Statements, the Business has evaluated subsequent events through March 11, 2020, the date the Combined Financial Statements were available to be reissued. On February 10, 2020, Carrier entered into a revolving credit agreement providing for a $2.0 billion unsecured, unsubordinated 5-year revolving credit facility and a term loan credit Agreement providing for a $1.75 billion unsecured, unsubordinated 3-year term loan credit facility. Carrier expects to draw upon the term loan credit agreement in full and use the proceeds to make a cash distribution to UTC prior to the separation of Carrier from UTC. The term loan credit agreement will initially be guaranteed by UTC and the UTC guarantee will terminate upon the distribution of shares of Carrier common stock to UTC shareholders in connection with the separation of Carrier from UTC. On February 27, 2020, Carrier issued $9.25 billion of unsecured, unsubordinated notes consisting of the following: $500 million of 1.923% notes due 2023, $2.0 billion of 2.242% notes due 2025, $1.25 billion of 2.493% notes due 2027, $2.0 billion of 2.722% notes due 2030, $1.5 billion of 3.377% notes due 2040 and $2.0 billion of 3.577% notes due 2050 (together, the “Notes”). Carrier used the net proceeds from the sale of the Notes to make a cash distribution to UTC. Each series of Notes initially will be guaranteed on an unsecured, unsubordinated basis by UTC. Each of the UTC guarantees will terminate upon the distribution of shares of Carrier common stock to UTC shareowners in connection with the separation of Carrier from UTC.

Schedule II - Valuation and Qualifying Accounts (FY)

12 Months Ended

Dec. 31, 2019

Schedule II - Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Schedule II

Carrier Global Corporation

(A Business of United Technologies Corporation)

Valuation and Qualifying Accounts

As of and for the Years Ended December 31, 2019, 2018 and 2017

(Dollars in millions)
Allowances for Doubtful Accounts
Balance, January 1, 2017	$	157
Provision charged to income		12
Doubtful accounts written off (net)		(23	)
Other adjustments		6
Balance, December 31, 2017		152
Provision charged to income		20
Doubtful accounts written off (net)		(22	)
Other adjustments		(9	)
Balance, December 31, 2018		141
Provision charged to income		18
Doubtful accounts written off (net)		(45	)
Other adjustments⁽¹⁾		(69	)
Balance, December 31, 2019	$	45

(Dollars in millions)
Future Income Tax Benefits — Valuation allowance
Balance, January 1, 2017	$	104
Additions charged to income tax expense		17
Reductions credited to income tax expense		(11	)
Other adjustments		3
Balance, December 31, 2017		113
Additions charged to income tax expense		15
Reductions credited to income tax expense		(14	)
Other adjustments		(7	)
Balance, December 31, 2018		107
Additions charged to income tax expense		41
Reductions credited to income tax expense		(16	)
Other adjustments		(4	)
Balance, December 31, 2019	$	128

(1)

Includes $61 million of the prior year allowance for doubtful accounts which has been reflected as a direct reduction in Trade receivables.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (FY) (Policies)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Principles of Combination

Use of Estimates

Cash and Cash Equivalents

Accounts Receivable

Contract Assets and Liabilities

Inventories

Fair Value of Financial Instruments

•

Level I – Quoted prices for identical instruments in active markets.

•

Level III – Instruments whose significant value drivers are unobservable.

The carrying amount of trade receivables, accounts payable and accrued expenses approximates fair value due to the short maturity (less than one year) of the instruments.

Business Combinations

Equity Method Investments

Goodwill and Intangible Assets

Customer relationships	1-30 years
Trademarks and trade names	5-30 years
Service contracts	1-23 years
Monitoring lines	7-10 years
Patents	7-8 years

Other Long-Lived Assets

Asset Retirement Obligations

Other Income (Expense), Net

Foreign Exchange

Pension and Postretirement Obligations

Product Performance Obligations

UTC Net Investment

Recent Accounting Pronouncements.

Recently Adopted Accounting Pronouncements

In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU and its related amendments (collectively, the "Credit Loss Standard") modified the credit loss model to utilize an expected loss methodology in place of an incurred loss methodology for financial instruments, including trade receivables, contract assets, long-term receivables and off-balance sheet credit exposures. The Credit Loss Standard requires consideration of a broader range of information to estimate expected credit losses, including historical information, current conditions and a reasonable forecast period. This ASU requires that the statement of operations reflect the measurement of credit losses for newly recognized financial assets as well as an expected increase or decrease of expected credit losses that have taken place during the period, which may result in earlier recognition. The Company adopted the Credit Loss Standard effective January 1, 2020, utilizing a modified retrospective approach and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Under this ASU, a goodwill impairment is calculated as the difference between the carrying amount of the reporting unit and its fair value, but not to exceed the carrying amount of the goodwill allocated to that reporting unit. Additionally, this ASU requires the same impairment testing methodology for all reporting units, even those with a zero or negative carrying amount, and requires an entity to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements.

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. This ASU removes the disclosure requirements for the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements.

Recently Issued SEC Rules

In May 2020, the SEC issued Final Rule Release No. 33-10786, which amends the financial statement requirements for acquisitions and dispositions of businesses and related pro forma financial information required under SEC Regulation S-X, Rule 3-05. The final rule modifies the significance test required in SEC Regulation S-X, Rule 1-02(w) by raising the significance threshold for reporting dispositions of a business from 10% to 20% and by modifying the calculation of the investment and income tests. In accordance with Rules 3-09 or 4-08(g), the revised income test will apply to the evaluation of equity method investments for significance. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning after December 31, 2020.

In August 2020, the SEC issued Final Rule Release No. 33-10825, which amends certain disclosure requirements required by Regulation S-K relating to the description of business (Item 101), legal proceedings (Item 103) and risk factors (Item 105). The amendments to Item 101 will, among other things, allow the Company to provide updates to the general development of the business based on materiality, if it incorporates by reference a full discussion from a previously filed registration statement or report. The amendment also requires disclosure of the registrant’s human capital resources to the extent such disclosures would be material to an understanding of the registrant’s business. The amendments to Item 103 will, among other things, increase the quantitative threshold for disclosing certain governmental environmental proceedings and the amendments to Item 105 will, among other things, require a risk factor summary where the risk factor section itself is longer than 15 pages. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning December 31, 2020.

BASIS OF PRESENTATION (Q3) (Policies)	9 Months Ended	12 Months Ended
BASIS OF PRESENTATION (Q3) (Policies)	Sep. 30, 2020	Dec. 31, 2019
BASIS OF PRESENTATION [Abstract]
Basis of Accounting	The Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. All significant intra-company accounts and transactions have been eliminated in the preparation of the Unaudited Condensed Consolidated Financial Statements. Related party transactions between the Company and its equity method investees have not been eliminated.
New Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU and its related amendments (collectively, the "Credit Loss Standard") modified the credit loss model to utilize an expected loss methodology in place of an incurred loss methodology for financial instruments, including trade receivables, contract assets, long-term receivables and off-balance sheet credit exposures. The Credit Loss Standard requires consideration of a broader range of information to estimate expected credit losses, including historical information, current conditions and a reasonable forecast period. This ASU requires that the statement of operations reflect the measurement of credit losses for newly recognized financial assets as well as an expected increase or decrease of expected credit losses that have taken place during the period, which may result in earlier recognition. The Company adopted the Credit Loss Standard effective January 1, 2020, utilizing a modified retrospective approach and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This ASU simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Under this ASU, a goodwill impairment is calculated as the difference between the carrying amount of the reporting unit and its fair value, but not to exceed the carrying amount of the goodwill allocated to that reporting unit. Additionally, this ASU requires the same impairment testing methodology for all reporting units, even those with a zero or negative carrying amount, and requires an entity to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement. This ASU removes the disclosure requirements for the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The Company adopted this ASU effective January 1, 2020 and its adoption did not have a significant impact on the Company's Unaudited Condensed Consolidated Financial Statements. Recently Issued SEC Rules In May 2020, the SEC issued Final Rule Release No. 33-10786, which amends the financial statement requirements for acquisitions and dispositions of businesses and related pro forma financial information required under SEC Regulation S-X, Rule 3-05. The final rule modifies the significance test required in SEC Regulation S-X, Rule 1-02(w) by raising the significance threshold for reporting dispositions of a business from 10% to 20% and by modifying the calculation of the investment and income tests. In accordance with Rules 3-09 or 4-08(g), the revised income test will apply to the evaluation of equity method investments for significance. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning after December 31, 2020. In August 2020, the SEC issued Final Rule Release No. 33-10825, which amends certain disclosure requirements required by Regulation S-K relating to the description of business (Item 101), legal proceedings (Item 103) and risk factors (Item 105). The amendments to Item 101 will, among other things, allow the Company to provide updates to the general development of the business based on materiality, if it incorporates by reference a full discussion from a previously filed registration statement or report. The amendment also requires disclosure of the registrant’s human capital resources to the extent such disclosures would be material to an understanding of the registrant’s business. The amendments to Item 103 will, among other things, increase the quantitative threshold for disclosing certain governmental environmental proceedings and the amendments to Item 105 will, among other things, require a risk factor summary where the risk factor section itself is longer than 15 pages. The Company is currently evaluating the impact of these modifications, which are effective for fiscal years beginning December 31, 2020.	Recent Accounting Pronouncements. In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory. This ASU requires the income tax consequences of an intra-entity transfer of an asset, other than inventory, to be recognized when the transfer occurs. Two common examples of assets included in the scope of this update are intellectual property and property, plant and equipment. Carrier adopted the new standard effective January 1, 2018. The adoption of this standard did not have a material impact on the Combined Financial Statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU requires a financial asset (or group of financial assets) to be measured at an amortized cost basis and presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets in order to present the net carrying value, which represents the amount expected to be collected on the financial asset. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted. The Business is still evaluating the impact of this ASU and its related amendments on the Combined Financial Statements, which is not expected to be material. In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220). The new standard allows companies to reclassify to retained earnings the stranded tax effects in accumulated other comprehensive income (AOCI) from the then newly-enacted TCJA. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, with early adoption permitted. The Business elected to reclassify the income tax effects of TCJA from AOCI to UTC Net Investment effective January 1, 2019. The adoption of this standard did not have a material impact on the 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 new standard removes the disclosure requirements for the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted. The Business does not expect this ASU to have a significant impact on the Combined Financial Statements, as it only includes changes to disclosure requirements. In August 2018, the FASB issued ASU 2018-14, Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans. The new standard includes updates to the disclosure requirements for defined benefit plans including several additions, deletions and modifications to the disclosure requirements. The provisions of this ASU are effective for years ending after December 15, 2020, with early adoption permitted. The Business is currently evaluating the impact of this ASU and expect to adopt for the year ending December 31, 2020. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. The new standard provides updated guidance surrounding implementation costs associated with cloud computing arrangements that are service contracts. The provisions of this ASU are effective for years beginning after December 15, 2019, with early adoption permitted. The Business is currently evaluating the impact of this ASU. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update remove certain exceptions of Topic 740 including: exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or gain from other items; exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. There are also additional areas of guidance in regards to: franchise and other taxes partially based on income and the interim recognition of enactment of tax laws and rate changes. The provisions of this ASU are effective for years beginning after December 15, 2020, with early adoption permitted. The Business is currently evaluating the impact of this ASU.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (FY) (Tables)

12 Months Ended

Dec. 31, 2019

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Estimated Useful Lives of Intangible Assets

Customer relationships	1-30 years
Trademarks and trade names	5-30 years
Service contracts	1-23 years
Monitoring lines	7-10 years
Patents	7-8 years

REVENUE RECOGNITION (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

REVENUE RECOGNITION [Abstract]

Contract Assets and Contract Liabilities

Total contract assets and liabilities are as follows:

(dollars in millions)	September 30, 2020			December 31, 2019
Contract assets, current	$	753		$	622
Contract assets, non-current (included within Other assets)		75			57
Total contract assets		828			679
Contract liabilities, current		(495	)		(443	)
Contract liabilities, non-current (included within Other long-term liabilities)		(166	)		(168	)
Total contract liabilities		(661	)		(611	)
Net contract assets	$	167		$	68

Total contract assets and contract liabilities as of December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Contract assets, current	$	622		$	566
Contract assets, noncurrent (included within Other assets)		57			100
Total contract assets		679			666
Contract liabilities, current		(443	)		(448	)
Contract liabilities, noncurrent (included within Other long-term liabilities)		(168	)		(164	)
Total contract liabilities		(611	)		(612	)
Net contract assets	$	68		$	54

ACCOUNTS RECEIVABLE, NET (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

ACCOUNTS RECEIVABLE, NET [Abstract]

Accounts Receivable, Net

Accounts receivable, net consisted of the following:

(dollars in millions)	September 30, 2020			December 31, 2019
Trade receivables	$	2,578		$	2,444
Receivables from affiliates		213			143
Other receivables		169			184
Accounts receivable		2,960			2,771
Less: Allowance for expected credit losses		(88	)		(45	)
Accounts receivable, net	$	2,872		$	2,726

(dollars in millions)	2019			2018
Trade receivables	$	2,444		$	2,549
Receivables from affiliates		143			113
Miscellaneous receivables		184			152
	$	2,771		$	2,814
Less: Allowance for doubtful accounts		(45	)		(141	)
		2,726			2,673

INVENTORIES, NET (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

INVENTORIES, NET [Abstract]

Inventories, Net

(dollars in millions)	September 30, 2020		December 31, 2019
Raw materials	$	248	$	290
Work-in-process		148		120
Finished goods		1,185		922
Inventories, net	$	1,581	$	1,332

(dollars in millions)	2019		2018
Raw materials	$	290	$	336
Work-in-process		120		102
Finished goods		922		925
	$	1,332		1,363

FIXED ASSETS, NET (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

FIXED ASSETS, NET [Abstract]

Property, Plant and Equipment

Fixed assets are recorded at cost and are depreciated on a straight-line basis over their estimated useful lives.

(dollars in millions)	Estimated Useful Lives (Years)		September 30, 2020			December 31, 2019
Land			$	112		$	113
Buildings and improvements		40		1,129			1,138
Machinery, tools and equipment		3 to 25		2,047			1,924
Rental assets		3 to 12		404			395
Other, including assets under construction				187			188
Fixed assets, gross				3,879			3,758
Accumulated depreciation				(2,203	)		(2,095	)
Fixed assets, net			$	1,676		$	1,663

Fixed assets are recorded at cost and are depreciated on a straight-line basis over the estimated useful lives of individual assets.

(dollars in millions)	Estimated Useful Lives (Years)		2019			2018
Land			$	113		$	114
Buildings and improvements		40		1,138			1,142
Machinery, tools and equipment	3 to 25			1,924			1,815
Rental assets	3 to 12			395			293
Other, including assets under construction				188			180
				3,758			3,544
Accumulated depreciation				(2,095	)		(1,891	)
			$	1,663		$	1,653

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

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS [Abstract]

Goodwill

The changes in the carrying amount of goodwill are as follows:

(dollars in millions)	HVAC		Refrigeration		Fire & Security		Total
Balance as of January 1, 2020	$	5,351	$	1,228	$	3,305	$	9,884
Foreign currency translation		2		5		15		22
Balance as of September 30, 2020	$	5,353	$	1,233	$	3,320	$	9,906

The changes in the carrying amount of goodwill are as follows:

(dollars in millions)	HVAC			Refrigeration			Fire & Security			Total
Balance as of January 1, 2018	$	5,472		$	1,417		$	3,176		$	10,065
Goodwill resulting from business combinations		—			1			194			195
Foreign currency translation and other		(142	)		(187	)		(82	)		(411	)
Balance as of December 31, 2018		5,330			1,231			3,288			9,849
Foreign currency translation and other		21			(3	)		17			35
Balance as of December 31, 2019	$	5,351		$	1,228		$	3,305		$	9,884

Intangible Assets

Identifiable intangible assets are comprised of the following:

	2019					2018
(dollars in millions)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,479	$	(1,154	)	$	1,511	$	(1,098	)
Patents and trademarks		287		(201	)		292		(189	)
Monitoring lines		67		(52	)		64		(46	)
Service portfolios and other		629		(506	)		631		(490	)
		2,462		(1,913	)		2,498		(1,823	)
Unamortized:
Trademarks and other		534		—			539		—
Total	$	2,996	$	(1,913	)	$	3,037	$	(1,823	)

Estimated Future Amortization of Intangible Assets

The estimated future amortization of intangible assets is as follows:

(dollars in millions)		2020				2021				2022				2023				2024
Future amortization		$	101			$	91			$	72			$	63			$	55

ACCRUED LIABILITIES (FY) (Tables)

12 Months Ended

Dec. 31, 2019

ACCRUED LIABILITIES [Abstract]

Accrued Liabilities

(dollars in millions)	2019		2018
Accrued salaries, wages and employee benefits	$	516	$	519
Accrued taxes		318		325
Warranty related		200		190
Project financing obligations		234		150
Accrued restructuring		66		56
Accrued legal and environmental reserves		24		26
Customer advances and deferred revenue		26		24
Other		941		784
	$	2,325	$	2,074

OTHER LONG-TERM LIABILITIES (FY) (Tables)

12 Months Ended

Dec. 31, 2019

OTHER LONG-TERM LIABILITIES [Abstract]

Other Long-term Liabilities

Other long-term liabilities as of December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019		2018
Warranty related	$	288	$	283
Environmental reserves		203		200
Project financing obligations		75		137
Asset retirement obligations		74		73
Other		625		610
	$	1,265	$	1,303

EMPLOYEE BENEFIT PLANS (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

EMPLOYEE BENEFIT PLANS [Abstract]

Change in Benefit Obligation

(dollars in millions)	2019			2018
Change in Benefit Obligation
Beginning balance	$	2,581		$	2,822
Service cost		31			33
Interest cost		67			64
Actuarial (gain) loss		351			(110	)
Benefits paid		(132	)		(114	)
Net settlement, curtailment and special termination benefits		(38	)		(8	)
Other		25			(106	)
Ending balance	$	2,885		$	2,581

Change in Plan Assets

Change in Plan Assets
Beginning balance	$	2,635		$	3,000
Actual return on plan assets		381			(162	)
Employer contributions		36			45
Benefits paid		(132	)		(114	)
Settlements		(14	)		(7	)
Other		47			(127	)
Ending balance	$	2,953		$	2,635

Funded Status

Funded Status
Fair value of plan assets	$	2,953		$	2,635
Benefit obligations		(2,885	)		(2,581	)
Funded status of plan	$	68		$	54

Amounts Recognized in Balance Sheet

(dollars in millions)	2019			2018

Amounts Recognized in the Combined Balance Sheets Consist of
Noncurrent assets	$	488		$	442
Current liability		(9	)		(16	)
Noncurrent liability		(411	)		(372	)
Net amount recognized	$	68		$	54

Amounts Recognized in Accumulated Other Comprehensive Loss

Amounts Recognized in Accumulated Other Comprehensive Loss Consist of
Net actuarial loss	$	577	$	482
Prior service cost		15		11
Net amount recognized	$	592	$	493

Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets

Information for pension plans with accumulated benefit obligations in excess of plan assets:

(dollars in millions)	2019		2018
Projected benefit obligation	$	549	$	501
Accumulated benefit obligation		506		463
Fair value of plan assets		137		125

Pension Plans with Projected Benefit Obligations in Excess of Plan Assets

Information for pension plans with projected benefit obligations in excess of plan assets:

(dollars in millions)	2019		2018
Projected benefit obligation	$	690	$	616
Accumulated benefit obligation		630		564
Fair value of plan assets		270		228

Net Periodic Pension Benefit

The components of the net periodic pension benefit are as follows:

(dollars in millions)	2019			2018			2017
Pension Benefits:
Service cost	$	31		$	33		$	34
Interest cost		67			64			65
Expected return on plan assets		(154	)		(170	)		(160	)
Amortization of prior service cost		2			1			2
Recognized actuarial net loss		9			16			14
Net settlement, curtailment and special termination benefits loss (gain)		4			1			(3	)
Net periodic pension benefit – employer	$	(41	)	$	(55	)	$	(48	)

Changes in Plan Assets and Benefit Obligations Recognized Other Comprehensive Loss

Other changes in plan assets and benefit obligations recognized in other comprehensive loss in 2019 are as follows:

(dollars in millions)	2019
Current year actuarial loss	$	112
Amortization of actuarial loss		(9	)
Amortization of prior service cost		(2	)
Net settlement and curtailment gain		(4	)
Other		2
Total recognized in other comprehensive loss	$	99
Net recognized in net periodic pension benefit and other comprehensive loss	$	58

Accumulated Other Comprehensive Loss Net Periodic Pension Benefit

The estimated amount that will be amortized from accumulated other comprehensive loss into net periodic pension benefit in 2020 is as follows:

(dollars in millions)
Net actuarial loss	$	18
Prior service cost		1
	$	19

Assumptions in Benefit Obligation and Net Cost Pension Plans

Major assumptions used in determining the benefit obligation and net cost for pension plans are presented in the following table as weighted-averages:

	Benefit Obligation						Net Cost
(dollars in millions)	2019			2018			2019			2018			2017
Discount rate
Projected benefit obligation		2.0	%		2.8	%		2.8	%		2.5	%		2.7	%
Interest cost⁽¹⁾		—			—			2.7	%		2.4	%		2.5	%
Service cost⁽¹⁾		—			—			3.2	%		2.8	%		3.1	%
Salary scale		3.4	%		3.0	%		3.0	%		3.0	%		2.6	%
Expected return on plan assets		—			—			5.6	%		6.0	%		6.2	%

Note (1)

Fair Values of Pension Plan Assets by Asset Category

The fair values of pension plan assets at December 31, 2019 and 2018 by asset category are as follows:

(dollars in millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling		Total
Asset Category
Public Equities:
Global Equities	$	29	$	—	$	—	$	—	$	29
Global Equity Commingled Funds⁽¹⁾		—		141		—		—		141
Enhanced Global Equities⁽²⁾		3		3		—		—		6
Global Equity Funds at net asset value⁽⁸⁾		—		—		—		927		927
Private Equities^(3),(8)		—		—		2		10		12
Fixed income securities:
Governments		8		35		—		—		43
Corporate Bonds		—		169		—		—		169
Fixed income securities⁽⁸⁾		—		—		—		1,449		1,449
Real Estate^(4),(8)		—		3		12		6		21
Other^(5),(8)		—		68		—		23		91
Cash & cash equivalents^(6),(8)		—		3		—		44		47
Subtotal	$	40	$	422	$	14	$	2,459	$	2,935
Other Assets & Liability⁽⁷⁾										18
Total at December 31, 2019									$	2,953

Public Equities:
Global Equities	$	22	$	—	$	—	$	—	$	22
Global Equity Commingled Funds⁽¹⁾		1		115		—		—		116
Enhanced Global Equities⁽²⁾		1		4		—		—		5
Global Equity Funds at net asset value⁽⁸⁾		—		—		—		815		815
Private Equities^(3),(8)		—		—		1		9		10
Fixed income securities:
Governments		13		28		—		—		41
Corporate Bonds		—		136		—		—		136
Fixed income securities⁽⁸⁾		—		—		—		1,323		1,323
Real Estate^(4),(8)		—		3		10		13		26
Other^(5),(8)		—		63		—		18		81
Cash & cash equivalents^(6),(8)		—		7		—		37		44
Subtotal	$	37	$	356	$	11	$	2,215	$	2,619
Other Assets & Liability⁽⁷⁾										16
Total at December 31, 2018									$	2,635

Note (1)

Represents commingled funds that invest primarily in common stocks.

Note 2

Note 3

Represents limited partner investments with general partners that primarily invest in debt and equity.

Note 4

Represents investments in real estate including commingled funds and directly held properties.

Note 5

Represents insurance contracts and global balanced risk commingled funds consisting mainly of equity, bonds and some commodities.

Note 6

Represents short-term commercial paper, bonds and other cash or cash-like instruments.

Note 7

Represents trust receivables and payables that are not leveled.

Note 8

Multiemployer Plans

The pension and post-retirement expense and benefits were as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020		2019			2020			2019
Service cost	$	—	$	4		$	—		$	13
Non-service pension benefit		—		(20	)		(2	)		(59	)
Total net periodic benefit	$	—	$	(16	)	$	(2	)	$	(46	)

(dollars in millions)	EIN/ Pension Plan Number		Zone Status		FIP/ RP Status Pending/ Implemented	Contributions				Surcharge Imposed	Expiration Date of Collective- Bargaining Agreement
Pension Fund			2019	2018		2019		2018
Metal and technology industry pension plan		N/A	Green	Green	No	$	6	$	6	No	September 30, 2021
Other funds							14		15
						$	20	$	21

The amounts for pension and retirement expenses for the year ended December 31, 2019, 2018 and 2017 were as follows:

(dollars in millions)	2019			2018			2017
Service cost	$	18		$	22		$	23
Non-service pension cost		(81	)		(80	)		(57	)
	$	(63	)	$	(58	)	$	(34	)

Transactions Under all Long-Term Incentive Plans

Carrier LTIP activity for the nine months ended September 30, 2020 was as follows:

	Stock Options and Stock Appreciation Rights					Performance Share Units					Restricted Share Units
(shares and units in thousands)	Shares			Average Price ¹		Units			Average Price ²		Units			Average Price²
Outstanding as of April 3, 2020 ³		36,015		$	19.90		68		$	21.23		5,622		$	21.37
Granted		3,753		$	16.62		728		$	18.23		443		$	18.98
Exercised		(984	)	$	15.52		—		$	—		(116	)	$	20.42
Forfeited/Cancelled		(509	)	$	22.73		(22	)	$	19.25		(108	)	$	22.25
Outstanding as of September 30, 2020		38,275		$	19.66		774		$	18.48		5,841		$	21.27

¹ Weighted-average exercise price

² Weighted-average grant date fair value

³Effective date of conversion upon the Separation

The following table summarizes outstanding Carrier LTIP awards that are vested and expected to vest (adjusted for expected forfeitures) and that are exercisable at September 30, 2020:

	Equity Awards Vested and Expected to Vest								Equity Awards That Are Exercisable
(shares and units in thousands; aggregate intrinsic value in dollars in thousands)	Awards		Average Price ¹		Aggregate Intrinsic Value		Remaining Life²		Awards		Average Price ¹		Aggregate Intrinsic Value		Remaining Life²
Stock Options/ Stock Appreciation Rights		36,868	$	19.61	$	403,105		6.7		16,173	$	16.97	$	219,447		4.2
Performance Share Units/ Restricted Stock Units		6,291	$	20.96	$	192,116		1.8

¹ Weighted-average exercise price per share

A summary of the transactions under all long-term incentive plans that UTC granted to Carrier employees for the year ended December 31, 2019 follows:

	Stock Options					Stock Appreciation Rights					Performance Share Units					Other Incentive
(shares and units in thousands)	Shares			Average Price*		Shares			Average Price*		Units			Average Price*		Shares/ Units
Outstanding at
December 31, 2018		71		$	85.86		5,635		$	100.16		289		$	110.59		499
Granted		2			133.19		1,673			124.37		142			121.79		219
Ancillary**		—			—		—			—		18			95.53		—
Exercised/earned		(35	)		87.18		(1,658	)		89.30		(155	)		95.54		(211	)
Cancelled		(1	)		110.83		(157	)		120.41		(25	)		112.39		(35	)
Net Transfers⁽¹⁾		(1	)		95.23		665			105.29		93			108.91		121
December 31, 2019		36		$	91.06		6,158		$	109.71		362		$	120.16		593

*	Weighted-average grant/exercise price

**	Ancillary shares granted based on actual performance achieved on the 2016 award

Note (1)

Represents net activity related to employee movement between UTC business units and other miscellaneous adjustments.

	Equity Awards Vested and Expected to Vest											Equity Awards That Are Exercisable
(shares in thousands; aggregate intrinsic value in millions)	Awards		Average Price^*		Aggregate Intrinsic Value		Remaining Term^**	Awards		Average Price^*		Aggregate Intrinsic Value		Remaining Term^**
Stock Options/Stock Appreciation rights		6,083	$	109.31	$	246	6.1 years		3,333	$	98.4	$	171	4.3 years
Performance Share Units/ Restricted Stock		1,006	$	—	$	151	1.7 years

*	Weighted-average exercise price per share

**	Weighted-average contractual remaining term in years

Valuation Assumptions

	For the Nine Months Ended September 30, 2020
Volatility		35.6	%
Expected life (in years)		7.0
Expected dividend yield		2.0	%
Range of risk-free rate		0.1% - 1.0	%

	2019			2018			2017
Expected volatility		18.8% - 19.7	%		17.5% - 21.1	%		19	%
Weighted-average volatility		20	%		18	%		19	%
Expected term (in years)		6.5 - 6.6			6.5-6.6			6.5
Expected dividend yield		2.4	%		2.2	%		2.4	%
Risk-free rate		2.3% - 2.7	%		1.3% - 2.7	%		0.5% - 2.5	%

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [Abstract]

Accumulated Other Comprehensive Income (Loss), Net of Tax

A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the three and nine months ended September 30, 2020 and 2019 is as follows:

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Post- retirement Plans			Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2020
Balance as of June 30, 2020	$	(1,018	)	$	(461	)	$	(1,479	)
Other comprehensive income before reclassifications, net		302			—			302
Amounts reclassified, pre-tax		—			6			6
Tax expense reclassified		—			(1	)		(1	)
Balance as of September 30, 2020	$	(716	)	$	(456	)	$	(1,172	)

Nine Months Ended September 30, 2020
Balance as of January 1, 2020	$	(780	)	$	(473	)	$	(1,253	)
Other comprehensive income before reclassifications, net		64			2			66
Amounts reclassified, pre-tax		—			18			18
Tax benefit reclassified		—			(3	)		(3	)
Balance as of September 30, 2020	$	(716	)	$	(456	)	$	(1,172	)

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Post- retirement Plans			Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2019
Balance as of June 30, 2019	$	(821	)	$	(381	)	$	(1,202	)
Other comprehensive loss before reclassifications, net		(274	)		—			(274	)
Amounts reclassified, pre-tax		—			2			2
Balance as of September 30, 2019	$	(1,095	)	$	(379	)	$	(1,474	)

Nine Months Ended September 30, 2019
Balance as of January 1, 2019	$	(834	)	$	(381	)	$	(1,215	)
Other comprehensive (loss) income before reclassifications, net		(261	)		2			(259	)
Amounts reclassified, pre-tax		—			9			9
ASU 2018-02 adoption impact		—			(9	)		(9	)
Balance as of September 30, 2019	$	(1,095	)	$	(379	)	$	(1,474	)

A summary of the changes in each component of accumulated other comprehensive (loss) income, net of tax for the years ended December 31, 2019, 2018 and 2017 is provided below:

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Postretirement Plans			Unrealized Gains (Losses) on Available- for-Sale Securities			Unrealized Hedging Gains (Losses)			Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2017	$	(1,130	)	$	(211	)	$	262		$	(5	)	$	(1,084	)
Other comprehensive income (loss) before reclassifications, net		747			(32	)		(31	)		2			686
Amounts reclassified, pre-tax		(10	)		16			(394	)		1			(387	)
Tax expense reclassified		—			5			163			—			168
Balance at December 31, 2017	$	(393	)	$	(222	)	$	—		$	(2	)	$	(617	)
Other comprehensive loss before reclassifications, net		(441	)		(209	)		—			—			(650	)
Amounts reclassified, pre-tax		—			17			—			2			19
Tax expense reclassified		—			33			—			—			33
Balance at December 31, 2018	$	(834	)	$	(381	)	$	—		$	—		$	(1,215	)
Other comprehensive loss before reclassifications, net		52			(109	)		—			—			(57	)
Amounts reclassified, pre-tax		2			11			—			—			13
Tax expense reclassified		—			15			—			—			15
ASU 2018-02 adoption impact		—			(9	)		—			—			(9	)
Balance at December 31, 2019	$	(780	)	$	(473	)	$	—		$	—		$	(1,253	)

INCOME TAXES (FY) (Tables)

12 Months Ended

Dec. 31, 2019

INCOME TAXES [Abstract]

Income Before Income Taxes

The sources of income from operations before income taxes are:

(dollars in millions)	2019		2018		2017
United States	$	1,460	$	2,360	$	1,620
Foreign	$	1,212	$	1,482	$	1,434
Total	$	2,672	$	3,842	$	3,054

Provision for Income Taxes

The income tax expense (benefit) for the years ended December 31, 2019, 2018 and 2017 consisted of the following components:

(dollars in millions)	2019			2018			2017
Current:
United States:
Federal	$	262		$	479			1,318
State		72			119			99
Foreign		305			342			342
		639			940			1,759
Future:
United States:
Federal		(14	)		(37	)		22
State		(2	)		24			2
Foreign		(106	)		146			4
		(122	)		133			28
Income tax expense		517			1,073			1,787
Attributable to items credited to UTC Net Investment	$	(36	)	$	(68	)	$	(168	)

Reconciliation of Effective Income Tax Rate

Differences between the effective income tax rates and the statutory U.S. federal income tax rate are as follows:

(dollars in millions)	2019			2018			2017
Statutory U.S. federal income tax rate		21.0	%		21.0	%		35.0	%
State income taxes		2.5	%		2.6	%		1.8	%
Tax on international activities		2.5	%		4.4	%		(3.4	)%
Tax audit settlements		(5.6	)%		—	%		(0.4	)%
U.S. tax reform adoption		—	%		—	%		26.1	%
Other		(1.0	)%		(0.1	)%		(0.6	)%
Effective income tax rate		19.4	%		27.9	%		58.5	%

Deferred Tax Assets and Liabilities

The tax effects of temporary differences and tax carryforwards which gave rise to future income tax benefits and payables at December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Future income tax benefits:
Insurance and employee benefits	$	76		$	76
Other asset basis differences		128			126
Other liability basis differences		556			331
Tax loss carryforward		236			159
Tax credit carryforwards		55			60
Valuation allowances		(128	)		(107	)
	$	923		$	645

Future income taxes payable:
Intangible assets	$	392		$	403
Other asset basis differences		297			165
	$	689		$	568

Tax Credit and Loss Carryforwards

At December 31, 2019, tax credit carryforwards, principally state and foreign, and tax loss carryforwards, principally state and foreign, were as follows:

(dollars in millions)	Tax Loss Carryforwards		Tax Credit Carryforwards
Expiration period:
2020-2024	$	52	$	8
2025-2029		105		3
2030-2039		41		1
Indefinite		882		43
Total	$	1,080	$	55

Unrecognized Tax Benefits

At December 31, 2019, Carrier had gross tax-effected unrecognized tax benefits of $166 million, all of which, if recognized, would impact the effective tax rate. A reconciliation of the beginning and ending amounts of unrecognized tax benefits and interest expense related to unrecognized tax benefits for the years ended December 31, 2019, 2018 and 2017 is as follows:

(dollars in millions)	2019			2018			2017
Balance at January 1	$	316		$	290		$	243
Additions for tax positions related to the current year		30			27			54
Additions for tax positions of prior years		14			3			17
Reductions for tax positions of prior years		(19	)		(4	)		(20	)
Settlements		(175	)		—			(4	)
Balance at December 31	$	166		$	316		$	290
Gross interest expense related to unrecognized tax benefits	$	8		$	8		$	4
Total accrued interest balance at December 31	$	25		$	33		$	24

RESTRUCTURING COSTS (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

RESTRUCTURING COSTS [Abstract]

Restructuring Reserve by Type of Cost

During the three and nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020			2019		2020		2019
HVAC	$	—		$	12	$	3	$	47
Refrigeration		(1	)		7		2		14
Fire & Security		4			14		13		35
Eliminations and other		—			1		1		1
Total restructuring costs	$	3		$	34	$	19	$	97

Restructuring charges incurred during the nine months ended September 30, 2020 and 2019 primarily relate to actions initiated during 2020 and 2019, and were recorded as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020			2019		2020		2019
Cost of sales	$	(1	)	$	14	$	5	$	27
Selling, general and administrative		4			20		14		70
Total restructuring costs	$	3		$	34	$	19	$	97

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

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs		Total
For the Three Months Ended September 30, 2020
Restructuring accrual as of June 30, 2020	$	8		$	1	$	9
Net pre-tax restructuring costs		5			—		5
Utilization, foreign exchange and other costs		(4	)		—		(4	)
Balance as of September 30, 2020	$	9		$	1	$	10

For the Nine Months Ended September 30, 2020
Restructuring accrual as of January 1, 2020	$	—		$	—	$	—
Net pre-tax restructuring costs		17			1		18
Utilization, foreign exchange and other costs		(8	)		—		(8	)
Balance as of September 30, 2020	$	9		$	1	$	10

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

(dollars in millions)	Expected Costs		Costs Incurred - Three Months Ended March 31, 2020			Costs Incurred - Three Months Ended June 30, 2020			Costs Incurred - Three Months Ended September 30, 2020			Remaining Costs at September 30, 2020
HVAC	$	5	$	(1	)	$	(2	)	$	(1	)	$	1
Refrigeration		3		—			(3	)		—			—
Fire & Security		13		(1	)		(5	)		(4	)		3
Eliminations and other		1		—			(1	)		—			—
Total	$	22	$	(2	)	$	(11	)	$	(5	)	$	4

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

(dollars in millions)	Expected Costs		Costs Incurred in 2019			Costs Incurred - Three Months Ended March 31, 2020			Costs Incurred - Three Months Ended June 30, 2020			Costs Incurred - Three Months Ended September 30, 2020			Remaining Costs at September 30, 2020
HVAC	$	53	$	(51	)	$	(1	)	$	2		$	(1	)	$	2
Refrigeration		16		(14	)		—			(1	)		1			2
Fire & Security		49		(43	)		(2	)		(1	)		—			3
Eliminations and other		2		(2	)		—			—			—			—
Total	$	120	$	(110	)	$	(3	)	$	—		$	—		$	7

(dollars in millions)	2019		2018		2017
HVAC	$	56	$	20	$	36
Refrigeration		14		23		13
Fire & Security		53		34		57
Eliminations and other		3		3		5
Total	$	126	$	80	$	111

Restructuring charges incurred in the years ended December 31, 2019, 2018 and 2017 primarily relate to actions initiated during 2019, 2018 and 2017, and were recorded as follows:

(dollars in millions)	2019		2018		2017
Cost of sales	$	36	$	36	$	48
Selling, general, & administrative		90		44		63
Total	$	126	$	80	$	111

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

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2019	$	—		$	—		$	—
Net pre-tax restructuring costs		102			8			110
Utilization, foreign exchange and other costs		(60	)		(7	)		(67	)
Balance at December 31, 2019	$	42		$	1		$	43

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

(dollars in millions)	Expected Costs		Costs Incurred During 2019			Remaining Costs at December 31, 2019
HVAC	$	53	$	(51	)	$	2
Refrigeration		16		(14	)		2
Fire & Security		49		(43	)		6
Eliminations and other		2		(2	)		—
Total	$	120	$	(110	)	$	10

The following table summarizes expected, incurred and remaining costs for the 2018 restructuring actions by segment:

(dollars in millions)	Expected Costs		Costs Incurred During 2018			Costs Incurred During 2019			Remaining Costs at December 31, 2019
HVAC	$	24	$	(17	)	$	(7	)	$	—
Refrigeration		26		(21	)		—			5
Fire & Security		34		(22	)		(9	)		3
Eliminations and other		3		(3	)		—			—
Total	$	87	$	(63	)	$	(16	)	$	8

Restructuring and Related Costs

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
For the Three Months Ended September 30, 2020
Restructuring accrual as of June 30, 2020	$	27		$	—		$	27
Net pre-tax restructuring costs		—			—			—
Utilization, foreign exchange and other costs		(5	)		—			(5	)
Balance as of September 30, 2020	$	22		$	—		$	22

For the Nine Months Ended September 30, 2020
Restructuring accrual as of January 1, 2020	$	43		$	1		$	44
Net pre-tax restructuring costs		3			—			3
Utilization, foreign exchange and other costs		(24	)		(1	)		(25	)
Balance as of September 30, 2020	$	22		$	—		$	22

The following table summarizes the accrual balances and utilization by cost type for the 2018 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2018	$	—		$	—		$	—
Net pre-tax restructuring costs		57			6			63
Utilization, foreign exchange and other costs		(26	)		(4	)		(30	)
Balance at December 31, 2018	$	31		$	2		$	33
Net pre-tax restructuring costs		8			8			16
Utilization, foreign exchange and other costs		(30	)		(9	)		(39	)
Balance at December 31, 2019	$	9		$	1		$	10

The following table summarizes the accrual balances and utilization by cost type for the 2017 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2017	$	—		$	—		$	—
Net pre-tax restructuring costs		74			2			76
Utilization, foreign exchange and other costs		(33	)		(1	)		(34	)
Balance at December 31, 2017		41			1			42
Net pre-tax restructuring costs		(4	)		5			1
Utilization, foreign exchange and other costs		(26	)		(1	)		(27	)
Balance at December 31, 2018		11			5			16
Net pre-tax restructuring costs		(1	)		1			—
Utilization, foreign exchange and other costs		(7	)		(1	)		(8	)
Balance at December 31, 2019	$	3		$	5		$	8

EQUITY METHOD INVESTMENTS (FY) (Tables)

12 Months Ended

Dec. 31, 2019

EQUITY METHOD INVESTMENTS [Abstract]

Financial Information for Equity Method Investments

Summarized financial information for equity method investments is reflected below.

(dollars in millions)	2019		2018
Current assets	$	4,324	$	4,123
Noncurrent assets		2,058		1,703
Total assets		6,382		5,826
Current liabilities		2,310		2,204
Noncurrent liabilities		592		445
Total liabilities		2,902		2,649
Total net equity of investees		3,480		3,177

(dollars in millions)	2019		2018		2017
Net sales	$	9,622	$	9,142	$	8,697
Gross profit		1,741		1,673		1,606
Income from continuing operations		578		645		561
Net income		578		645		561

OTHER INCOME (EXPENSE), NET (FY) (Tables)

12 Months Ended

Dec. 31, 2019

OTHER INCOME (EXPENSE), NET [Abstract]

Other Income (Expense)

(dollars in millions)	2019			2018		2017
Transaction gains	$	—		$	799	$	379
Impairment of equity method investment (Note 16)		(108	)		—		—
Other		106			138		196
Total	$	(2	)	$	937	$	575

GUARANTEES (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

GUARANTEES [Abstract]

Changes in Carrying Amount of Service and Product Warranties and Product Performance Guarantees

The changes in the carrying amount of service and product warranties and product performance guarantees, included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet, for the nine months ended September 30, 2020 and 2019 are as follows:

	For the Nine Months Ended September 30,
(dollars in millions)	2020			2019
Balance as of January 1	$	488		$	473
Warranties, performance guarantees issued and changes in estimated liability		131			133
Settlements made		(111	)		(126	)
Other		1			(2	)
Balance as of September 30	$	509		$	478

The changes in the carrying amount of service and product warranties and product performance guarantees for the years ended December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Balance as of January 1	$	473		$	500
Warranties and performance guarantees issued		182			171
Settlement made		(164	)		(191	)
Other		(3	)		(7	)
Balance as of December 31	$	488		$	473

LEASES (FY) (Tables)

12 Months Ended

Dec. 31, 2019

LEASES [Abstract]

Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases was as follows:

(dollars in millions)	Year Ended December 31, 2019
Operating cash flows used for the measurement of operating lease liabilities	$	(201	)
Operating lease right-of-use assets obtained in exchange for operating lease obligations	$	136

Operating Lease Right-of-Use Assets and Liabilities

Operating lease right-of-use assets and liabilities are reflected on our Combined Balance Sheet as follows:

(dollars in millions, except lease term and discount rate)	December 31, 2019
Operating lease right-of-use assets	$	832
Accrued liabilities		(163	)
Operating lease liabilities		(682	)
Total operating lease liabilities	$	(845	)

Supplemental Information Related to Operating Leases

Supplemental information related to operating leases was as follows:

	December 31, 2019
Weighted-Average Remaining Lease Term (in years)		8.0
Weighted-Average Discount Rate		3.6	%

Undiscounted Maturities of Operating Lease Liabilities

Undiscounted maturities of operating lease liabilities, including options to extend lease terms that are reasonably certain of being exercised, as of December 31, 2019 are as follows:

(dollars in millions, except lease term and discount rate)	Operating
2020	$	182
2021		151
2022		121
2023		97
2024		73
Thereafter		315
Total undiscounted lease payments		939
Less imputed interest		(94	)
Total discounted lease payments	$	845

SEGMENT FINANCIAL DATA (FY) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

SEGMENT FINANCIAL DATA [Abstract]

Segment Information

Segment information for the periods presented are as follows:

	Net Sales						Operating Profit
	For the Three Months Ended September 30,						For the Three Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
HVAC	$	2,892		$	2,602		$	839		$	404
Refrigeration		876			922			103			125
Fire & Security		1,324			1,402			200			205
Total segment		5,092			4,926			1,142			734
Eliminations and other		(90	)		(104	)		(31	)		(63	)
General corporate expenses		—			—			(30	)		(42	)
Consolidated	$	5,002		$	4,822		$	1,081		$	629

	Net Sales						Operating Profit
	For the Nine Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
HVAC	$	7,142		$	7,505		$	1,364		$	1,242
Refrigeration		2,384			2,839			263			373
Fire & Security		3,587			4,078			426			521
Total segment		13,113			14,422			2,053			2,136
Eliminations and other		(251	)		(315	)		(122	)		(95	)
General corporate expenses		—			—			(93	)		(107	)
Consolidated	$	12,862		$	14,107		$	1,838		$	1,934

Segment information for the years ended December 31 is as follows:

	Net sales									Operating profit
(dollars in millions)	2019			2018			2017			2019			2018			2017
HVAC	$	9,712		$	9,713		$	9,045		$	1,563		$	1,720		$	2,001
Refrigeration		3,792			4,095			3,823			532			1,353			562
Fire & Security		5,500			5,531			5,324			708			726			639
Total Segment		19,004			19,339			18,192			2,803			3,799			3,202
Eliminations and other		(396	)		(425	)		(378	)		(156	)		(24	)		(32	)
General corporate expenses		—			—			—			(156	)		(138	)		(140	)
Combined	$	18,608		$	18,914		$	17,814		$	2,491		$	3,637		$	3,030

Total assets are not presented for each segment as they are not presented to or reviewed by the CODM.

	Segment Assets								Capital Expenditures						Depreciation & Amortization
(dollars in millions)	2019		2018			2017			2019		2018		2017		2019		2018		2017
HVAC	$	1,953	$	1,844		$	1,630		$	150	$	149	$	148	$	160	$	164	$	173
Refrigeration		989		998			1,017			30		40		36		34		36		33
Fire & Security		1,728		1,764			1,698			50		45		50		123		141		152
Total Segment		4,670		4,606			4,345			230		234		234		317		341		358
Eliminations and other		10		(4	)		(10	)		13		29		92		18		16		14
Combined	$	4,680	$	4,602		$	4,335		$	243	$	263	$	326	$	335	$	357	$	372
Cash and cash equivalents		952		1,129			1,324
Other assets, current		327		378			341
Total Current Assets	$	5,959	$	6,109		$	6,000

Geographic External Sales and Long-Lived Assets

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
United States Operations	$	2,780	$	2,541	$	6,983	$	7,473
International Operations
Europe		1,307		1,313		3,455		3,906
Asia Pacific		715		729		1,879		2,079
Other		200		239		545		649
Consolidated	$	5,002	$	4,822	$	12,862	$	14,107

Long-lived assets are net fixed assets attributed to the specific geographic regions:

	External Net sales						Long-Lived Assets
(dollars in millions)	2019		2018		2017		2019		2018		2017
United States Operations	$	9,594	$	9,415	$	8,686	$	701	$	700	$	727
International Operations:
Europe		5,327		5,711		5,323		439		451		480
Asia Pacific		2,813		2,853		2,782		241		244		222
Other		874		935		1,023		282		258		255
	$	18,608	$	18,914	$	17,814	$	1,663	$	1,653	$	1,684

Segment Sales Disaggregated by Product versus Service

Segment sales disaggregated by product and service are as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
Sales Type
Product	$	2,547		$	2,224		$	6,180		$	6,455
Service		345			378			962			1,050
HVAC sales		2,892			2,602			7,142			7,505
Product		771			823			2,093			2,551
Service		105			99			291			288
Refrigeration sales		876			922			2,384			2,839
Product		965			1,055			2,587			3,011
Service		359			347			1,000			1,067
Fire & Security sales		1,324			1,402			3,587			4,078
Total segment sales		5,092			4,926			13,113			14,422
Eliminations and other		(90	)		(104	)		(251	)		(315	)
Consolidated	$	5,002		$	4,822		$	12,862		$	14,107

Segment sales disaggregated by product versus service for the year ended December 31, 2019, 2018 and 2017 are as follows:

(dollars in millions)	2019			2018			2017
Sales Type
Product	$	8,279		$	8,395		$	7,902
Service		1,433			1,318			1,143
Total HVAC sales		9,712			9,713			9,045
Product		3,405			3,665			3,427
Service		387			430			396
Total Refrigeration sales		3,792			4,095			3,823
Product		4,072			4,039			3,824
Service		1,428			1,492			1,500
Total Fire & Security sales		5,500			5,531			5,324
Total segment sales		19,004			19,339			18,192
Eliminations and other		(396	)		(425	)		(378	)
Combined	$	18,608		$	18,914		$	17,814

EARNINGS PER SHARE (Q3) (Tables)

9 Months Ended

Sep. 30, 2020

EARNINGS PER SHARE [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in millions, except per share amounts; shares in millions)	2020		2019		2020		2019
Net income attributable to common shareowners	$	741	$	492	$	1,098	$	1,676

Basic weighted-average number of shares outstanding		866.4		866.2		866.3		866.2
Stock awards and equity units (share equivalent)		15.1		—		9.9		—
Diluted weighted-average number of shares outstanding		881.5		866.2		876.2		866.2

Earnings Per Share
Basic	$	0.86	$	0.57	$	1.27	$	1.94
Diluted	$	0.84	$	0.57	$	1.25	$	1.94

REVENUE RECOGNITION (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

REVENUE RECOGNITION [Abstract]

Contract with Customer, Asset and Liability

Total contract assets and liabilities are as follows:

(dollars in millions)	September 30, 2020			December 31, 2019
Contract assets, current	$	753		$	622
Contract assets, non-current (included within Other assets)		75			57
Total contract assets		828			679
Contract liabilities, current		(495	)		(443	)
Contract liabilities, non-current (included within Other long-term liabilities)		(166	)		(168	)
Total contract liabilities		(661	)		(611	)
Net contract assets	$	167		$	68

Total contract assets and contract liabilities as of December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Contract assets, current	$	622		$	566
Contract assets, noncurrent (included within Other assets)		57			100
Total contract assets		679			666
Contract liabilities, current		(443	)		(448	)
Contract liabilities, noncurrent (included within Other long-term liabilities)		(168	)		(164	)
Total contract liabilities		(611	)		(612	)
Net contract assets	$	68		$	54

ACCOUNTS RECEIVABLE, NET (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

ACCOUNTS RECEIVABLE, NET [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Accounts receivable, net consisted of the following:

(dollars in millions)	September 30, 2020			December 31, 2019
Trade receivables	$	2,578		$	2,444
Receivables from affiliates		213			143
Other receivables		169			184
Accounts receivable		2,960			2,771
Less: Allowance for expected credit losses		(88	)		(45	)
Accounts receivable, net	$	2,872		$	2,726

(dollars in millions)	2019			2018
Trade receivables	$	2,444		$	2,549
Receivables from affiliates		143			113
Miscellaneous receivables		184			152
	$	2,771		$	2,814
Less: Allowance for doubtful accounts		(45	)		(141	)
		2,726			2,673

Accounts Receivable, Allowance for Credit Loss

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

(dollars in millions)
Balance as of January 1, 2020	$	45
Provision for expected credit losses		38
Write-offs charged against the allowance for expected credit losses		(2	)
Other (including impact of adoption of ASU 2016-13)		7
Balance as of September 30, 2020	$	88

INVENTORIES, NET (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

INVENTORIES, NET [Abstract]

Schedule of Inventory, Current

(dollars in millions)	September 30, 2020		December 31, 2019
Raw materials	$	248	$	290
Work-in-process		148		120
Finished goods		1,185		922
Inventories, net	$	1,581	$	1,332

(dollars in millions)	2019		2018
Raw materials	$	290	$	336
Work-in-process		120		102
Finished goods		922		925
	$	1,332		1,363

FIXED ASSETS, NET (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

FIXED ASSETS, NET [Abstract]

Property, Plant and Equipment

Fixed assets are recorded at cost and are depreciated on a straight-line basis over their estimated useful lives.

(dollars in millions)	Estimated Useful Lives (Years)		September 30, 2020			December 31, 2019
Land			$	112		$	113
Buildings and improvements		40		1,129			1,138
Machinery, tools and equipment		3 to 25		2,047			1,924
Rental assets		3 to 12		404			395
Other, including assets under construction				187			188
Fixed assets, gross				3,879			3,758
Accumulated depreciation				(2,203	)		(2,095	)
Fixed assets, net			$	1,676		$	1,663

Fixed assets are recorded at cost and are depreciated on a straight-line basis over the estimated useful lives of individual assets.

(dollars in millions)	Estimated Useful Lives (Years)		2019			2018
Land			$	113		$	114
Buildings and improvements		40		1,138			1,142
Machinery, tools and equipment	3 to 25			1,924			1,815
Rental assets	3 to 12			395			293
Other, including assets under construction				188			180
				3,758			3,544
Accumulated depreciation				(2,095	)		(1,891	)
			$	1,663		$	1,653

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill are as follows:

(dollars in millions)	HVAC		Refrigeration		Fire & Security		Total
Balance as of January 1, 2020	$	5,351	$	1,228	$	3,305	$	9,884
Foreign currency translation		2		5		15		22
Balance as of September 30, 2020	$	5,353	$	1,233	$	3,320	$	9,906

The changes in the carrying amount of goodwill are as follows:

(dollars in millions)	HVAC			Refrigeration			Fire & Security			Total
Balance as of January 1, 2018	$	5,472		$	1,417		$	3,176		$	10,065
Goodwill resulting from business combinations		—			1			194			195
Foreign currency translation and other		(142	)		(187	)		(82	)		(411	)
Balance as of December 31, 2018		5,330			1,231			3,288			9,849
Foreign currency translation and other		21			(3	)		17			35
Balance as of December 31, 2019	$	5,351		$	1,228		$	3,305		$	9,884

Intangible Assets Disclosure

Identifiable intangible assets are comprised of the following:

	September 30, 2020					December 31, 2019
(dollars in millions)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,506	$	(1,223	)	$	1,479	$	(1,154	)
Patents and trademarks		293		(213	)		287		(201	)
Monitoring lines		67		(55	)		67		(52	)
Service portfolios and other		636		(528	)		629		(506	)
		2,502		(2,019	)		2,462		(1,913	)
Unamortized:
Trademarks and other		541		—			534		—
Intangible assets, net	$	3,043	$	(2,019	)	$	2,996	$	(1,913	)

Schedule of Indefinite-Lived Intangible Assets

Identifiable intangible assets are comprised of the following:

	September 30, 2020					December 31, 2019
(dollars in millions)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Amortized:
Customer relationships	$	1,506	$	(1,223	)	$	1,479	$	(1,154	)
Patents and trademarks		293		(213	)		287		(201	)
Monitoring lines		67		(55	)		67		(52	)
Service portfolios and other		636		(528	)		629		(506	)
		2,502		(2,019	)		2,462		(1,913	)
Unamortized:
Trademarks and other		541		—			534		—
Intangible assets, net	$	3,043	$	(2,019	)	$	2,996	$	(1,913	)

BORROWINGS AND LINES OF CREDIT (Q3) (Tables)

9 Months Ended

Sep. 30, 2020

BORROWINGS AND LINES OF CREDIT [Abstract]

Schedule of Long-term Debt

Long-term debt, all of which was issued during the nine months ended September 30, 2020 except for Other long-term debt, consisted of the following:

(dollars in millions)
Debt Description	Interest Rate				September 30, 2020			December 31, 2019
3-Year Term Loan Credit Facility due February 10, 2023		1.275	%	¹	$	1,750	²	$	—
1.923% Notes due February 15, 2023		1.923	%			500	²		—
2.242% Notes due February 15, 2025		2.242	%			2,000	²		—
2.493% Notes due February 15, 2027		2.493	%			1,250	²		—
2.722% Notes due February 15, 2030		2.722	%			2,000	²		—
2.700% Notes due February 15, 2031		2.700	%			750			—
3.377% Notes due April 5, 2040		3.377	%			1,500	²		—
3.577% Notes due April 5, 2050		3.577	%			2,000	²		—
Other (including project financing obligations and finance leases)						309			319

Total principal long-term debt						12,059			319
Other (discounts and debt issuance costs)						(85	)		—
Total debt						11,974			319
Less: current portion of long-term debt						223			237
Long-term debt, net of current portion					$	11,751		$	82

¹ The interest rate on the term loan as of September 30, 2020 was 1.275% which is a variable rate based on one-month LIBOR plus 112.5 basis points.

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

Schedule of Maturities of Long-term Debt

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

(dollars in millions)
2020	$	223
2021	$	45
2022	$	40
2023	$	2,251
2024	$	—
Thereafter	$	9,500

- 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

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+ Details

EMPLOYEE BENEFIT PLANS (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

EMPLOYEE BENEFIT PLANS [Abstract]

Schedule of Employer Contributions to Plans

Contributions to the plans were as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
Defined benefit plans	$	1	$	2	$	29	$	29
Defined contribution plans	$	23	$	22	$	78	$	71
Multi-employer pension plans	$	5	$	5	$	15	$	15

Schedule of Defined Benefit Plans Disclosures

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

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
Service cost	$	7		$	7		$	22		$	23
Interest cost		13			17			39			50
Expected return on plan assets		(35	)		(37	)		(104	)		(115	)
Amortization of prior service credit		1			—			2			1
Recognized actuarial net loss		5			2			15			7
Net settlement, curtailment and special termination benefit loss		—			—			1			1
Net periodic pension benefit	$	(9	)	$	(11	)	$	(25	)	$	(33	)

Schedule of Multiemployer Plans

The pension and post-retirement expense and benefits were as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020		2019			2020			2019
Service cost	$	—	$	4		$	—		$	13
Non-service pension benefit		—		(20	)		(2	)		(59	)
Total net periodic benefit	$	—	$	(16	)	$	(2	)	$	(46	)

(dollars in millions)	EIN/ Pension Plan Number		Zone Status		FIP/ RP Status Pending/ Implemented	Contributions				Surcharge Imposed	Expiration Date of Collective- Bargaining Agreement
Pension Fund			2019	2018		2019		2018
Metal and technology industry pension plan		N/A	Green	Green	No	$	6	$	6	No	September 30, 2021
Other funds							14		15
						$	20	$	21

The amounts for pension and retirement expenses for the year ended December 31, 2019, 2018 and 2017 were as follows:

(dollars in millions)	2019			2018			2017
Service cost	$	18		$	22		$	23
Non-service pension cost		(81	)		(80	)		(57	)
	$	(63	)	$	(58	)	$	(34	)

- Definition

Tabular disclosure of information about multiemployer plan.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 5
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+ Details

STOCK-BASED COMPENSATION (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

STOCK-BASED COMPENSATION [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

Carrier LTIP activity for the nine months ended September 30, 2020 was as follows:

	Stock Options and Stock Appreciation Rights					Performance Share Units					Restricted Share Units
(shares and units in thousands)	Shares			Average Price ¹		Units			Average Price ²		Units			Average Price²
Outstanding as of April 3, 2020 ³		36,015		$	19.90		68		$	21.23		5,622		$	21.37
Granted		3,753		$	16.62		728		$	18.23		443		$	18.98
Exercised		(984	)	$	15.52		—		$	—		(116	)	$	20.42
Forfeited/Cancelled		(509	)	$	22.73		(22	)	$	19.25		(108	)	$	22.25
Outstanding as of September 30, 2020		38,275		$	19.66		774		$	18.48		5,841		$	21.27

¹ Weighted-average exercise price

² Weighted-average grant date fair value

³Effective date of conversion upon the Separation

The following table summarizes outstanding Carrier LTIP awards that are vested and expected to vest (adjusted for expected forfeitures) and that are exercisable at September 30, 2020:

	Equity Awards Vested and Expected to Vest								Equity Awards That Are Exercisable
(shares and units in thousands; aggregate intrinsic value in dollars in thousands)	Awards		Average Price ¹		Aggregate Intrinsic Value		Remaining Life²		Awards		Average Price ¹		Aggregate Intrinsic Value		Remaining Life²
Stock Options/ Stock Appreciation Rights		36,868	$	19.61	$	403,105		6.7		16,173	$	16.97	$	219,447		4.2
Performance Share Units/ Restricted Stock Units		6,291	$	20.96	$	192,116		1.8

¹ Weighted-average exercise price per share

A summary of the transactions under all long-term incentive plans that UTC granted to Carrier employees for the year ended December 31, 2019 follows:

	Stock Options					Stock Appreciation Rights					Performance Share Units					Other Incentive
(shares and units in thousands)	Shares			Average Price*		Shares			Average Price*		Units			Average Price*		Shares/ Units
Outstanding at
December 31, 2018		71		$	85.86		5,635		$	100.16		289		$	110.59		499
Granted		2			133.19		1,673			124.37		142			121.79		219
Ancillary**		—			—		—			—		18			95.53		—
Exercised/earned		(35	)		87.18		(1,658	)		89.30		(155	)		95.54		(211	)
Cancelled		(1	)		110.83		(157	)		120.41		(25	)		112.39		(35	)
Net Transfers⁽¹⁾		(1	)		95.23		665			105.29		93			108.91		121
December 31, 2019		36		$	91.06		6,158		$	109.71		362		$	120.16		593

*	Weighted-average grant/exercise price

**	Ancillary shares granted based on actual performance achieved on the 2016 award

Note (1)

Represents net activity related to employee movement between UTC business units and other miscellaneous adjustments.

	Equity Awards Vested and Expected to Vest											Equity Awards That Are Exercisable
(shares in thousands; aggregate intrinsic value in millions)	Awards		Average Price^*		Aggregate Intrinsic Value		Remaining Term^**	Awards		Average Price^*		Aggregate Intrinsic Value		Remaining Term^**
Stock Options/Stock Appreciation rights		6,083	$	109.31	$	246	6.1 years		3,333	$	98.4	$	171	4.3 years
Performance Share Units/ Restricted Stock		1,006	$	—	$	151	1.7 years

*	Weighted-average exercise price per share

**	Weighted-average contractual remaining term in years

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

	For the Nine Months Ended September 30, 2020
Volatility		35.6	%
Expected life (in years)		7.0
Expected dividend yield		2.0	%
Range of risk-free rate		0.1% - 1.0	%

	2019			2018			2017
Expected volatility		18.8% - 19.7	%		17.5% - 21.1	%		19	%
Weighted-average volatility		20	%		18	%		19	%
Expected term (in years)		6.5 - 6.6			6.5-6.6			6.5
Expected dividend yield		2.4	%		2.2	%		2.4	%
Risk-free rate		2.3% - 2.7	%		1.3% - 2.7	%		0.5% - 2.5	%

ACCUMULATED OTHER COMPREHENSIVE LOSS (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the three and nine months ended September 30, 2020 and 2019 is as follows:

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Post- retirement Plans			Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2020
Balance as of June 30, 2020	$	(1,018	)	$	(461	)	$	(1,479	)
Other comprehensive income before reclassifications, net		302			—			302
Amounts reclassified, pre-tax		—			6			6
Tax expense reclassified		—			(1	)		(1	)
Balance as of September 30, 2020	$	(716	)	$	(456	)	$	(1,172	)

Nine Months Ended September 30, 2020
Balance as of January 1, 2020	$	(780	)	$	(473	)	$	(1,253	)
Other comprehensive income before reclassifications, net		64			2			66
Amounts reclassified, pre-tax		—			18			18
Tax benefit reclassified		—			(3	)		(3	)
Balance as of September 30, 2020	$	(716	)	$	(456	)	$	(1,172	)

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Post- retirement Plans			Accumulated Other Comprehensive Loss
Three Months Ended September 30, 2019
Balance as of June 30, 2019	$	(821	)	$	(381	)	$	(1,202	)
Other comprehensive loss before reclassifications, net		(274	)		—			(274	)
Amounts reclassified, pre-tax		—			2			2
Balance as of September 30, 2019	$	(1,095	)	$	(379	)	$	(1,474	)

Nine Months Ended September 30, 2019
Balance as of January 1, 2019	$	(834	)	$	(381	)	$	(1,215	)
Other comprehensive (loss) income before reclassifications, net		(261	)		2			(259	)
Amounts reclassified, pre-tax		—			9			9
ASU 2018-02 adoption impact		—			(9	)		(9	)
Balance as of September 30, 2019	$	(1,095	)	$	(379	)	$	(1,474	)

A summary of the changes in each component of accumulated other comprehensive (loss) income, net of tax for the years ended December 31, 2019, 2018 and 2017 is provided below:

(dollars in millions)	Foreign Currency Translation			Defined Benefit Pension and Postretirement Plans			Unrealized Gains (Losses) on Available- for-Sale Securities			Unrealized Hedging Gains (Losses)			Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2017	$	(1,130	)	$	(211	)	$	262		$	(5	)	$	(1,084	)
Other comprehensive income (loss) before reclassifications, net		747			(32	)		(31	)		2			686
Amounts reclassified, pre-tax		(10	)		16			(394	)		1			(387	)
Tax expense reclassified		—			5			163			—			168
Balance at December 31, 2017	$	(393	)	$	(222	)	$	—		$	(2	)	$	(617	)
Other comprehensive loss before reclassifications, net		(441	)		(209	)		—			—			(650	)
Amounts reclassified, pre-tax		—			17			—			2			19
Tax expense reclassified		—			33			—			—			33
Balance at December 31, 2018	$	(834	)	$	(381	)	$	—		$	—		$	(1,215	)
Other comprehensive loss before reclassifications, net		52			(109	)		—			—			(57	)
Amounts reclassified, pre-tax		2			11			—			—			13
Tax expense reclassified		—			15			—			—			15
ASU 2018-02 adoption impact		—			(9	)		—			—			(9	)
Balance at December 31, 2019	$	(780	)	$	(473	)	$	—		$	—		$	(1,253	)

RESTRUCTURING COSTS (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

RESTRUCTURING COSTS [Abstract]

Schedule of Restructuring Reserve by Type of Cost

During the three and nine months ended September 30, 2020 and 2019, we recorded net pre-tax restructuring costs for new and ongoing restructuring actions as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020			2019		2020		2019
HVAC	$	—		$	12	$	3	$	47
Refrigeration		(1	)		7		2		14
Fire & Security		4			14		13		35
Eliminations and other		—			1		1		1
Total restructuring costs	$	3		$	34	$	19	$	97

Restructuring charges incurred during the nine months ended September 30, 2020 and 2019 primarily relate to actions initiated during 2020 and 2019, and were recorded as follows:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
(dollars in millions)	2020			2019		2020		2019
Cost of sales	$	(1	)	$	14	$	5	$	27
Selling, general and administrative		4			20		14		70
Total restructuring costs	$	3		$	34	$	19	$	97

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

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs		Total
For the Three Months Ended September 30, 2020
Restructuring accrual as of June 30, 2020	$	8		$	1	$	9
Net pre-tax restructuring costs		5			—		5
Utilization, foreign exchange and other costs		(4	)		—		(4	)
Balance as of September 30, 2020	$	9		$	1	$	10

For the Nine Months Ended September 30, 2020
Restructuring accrual as of January 1, 2020	$	—		$	—	$	—
Net pre-tax restructuring costs		17			1		18
Utilization, foreign exchange and other costs		(8	)		—		(8	)
Balance as of September 30, 2020	$	9		$	1	$	10

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

(dollars in millions)	Expected Costs		Costs Incurred - Three Months Ended March 31, 2020			Costs Incurred - Three Months Ended June 30, 2020			Costs Incurred - Three Months Ended September 30, 2020			Remaining Costs at September 30, 2020
HVAC	$	5	$	(1	)	$	(2	)	$	(1	)	$	1
Refrigeration		3		—			(3	)		—			—
Fire & Security		13		(1	)		(5	)		(4	)		3
Eliminations and other		1		—			(1	)		—			—
Total	$	22	$	(2	)	$	(11	)	$	(5	)	$	4

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

(dollars in millions)	Expected Costs		Costs Incurred in 2019			Costs Incurred - Three Months Ended March 31, 2020			Costs Incurred - Three Months Ended June 30, 2020			Costs Incurred - Three Months Ended September 30, 2020			Remaining Costs at September 30, 2020
HVAC	$	53	$	(51	)	$	(1	)	$	2		$	(1	)	$	2
Refrigeration		16		(14	)		—			(1	)		1			2
Fire & Security		49		(43	)		(2	)		(1	)		—			3
Eliminations and other		2		(2	)		—			—			—			—
Total	$	120	$	(110	)	$	(3	)	$	—		$	—		$	7

(dollars in millions)	2019		2018		2017
HVAC	$	56	$	20	$	36
Refrigeration		14		23		13
Fire & Security		53		34		57
Eliminations and other		3		3		5
Total	$	126	$	80	$	111

Restructuring charges incurred in the years ended December 31, 2019, 2018 and 2017 primarily relate to actions initiated during 2019, 2018 and 2017, and were recorded as follows:

(dollars in millions)	2019		2018		2017
Cost of sales	$	36	$	36	$	48
Selling, general, & administrative		90		44		63
Total	$	126	$	80	$	111

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

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2019	$	—		$	—		$	—
Net pre-tax restructuring costs		102			8			110
Utilization, foreign exchange and other costs		(60	)		(7	)		(67	)
Balance at December 31, 2019	$	42		$	1		$	43

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

(dollars in millions)	Expected Costs		Costs Incurred During 2019			Remaining Costs at December 31, 2019
HVAC	$	53	$	(51	)	$	2
Refrigeration		16		(14	)		2
Fire & Security		49		(43	)		6
Eliminations and other		2		(2	)		—
Total	$	120	$	(110	)	$	10

The following table summarizes expected, incurred and remaining costs for the 2018 restructuring actions by segment:

(dollars in millions)	Expected Costs		Costs Incurred During 2018			Costs Incurred During 2019			Remaining Costs at December 31, 2019
HVAC	$	24	$	(17	)	$	(7	)	$	—
Refrigeration		26		(21	)		—			5
Fire & Security		34		(22	)		(9	)		3
Eliminations and other		3		(3	)		—			—
Total	$	87	$	(63	)	$	(16	)	$	8

Schedule of Restructuring and Related Costs

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

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
For the Three Months Ended September 30, 2020
Restructuring accrual as of June 30, 2020	$	27		$	—		$	27
Net pre-tax restructuring costs		—			—			—
Utilization, foreign exchange and other costs		(5	)		—			(5	)
Balance as of September 30, 2020	$	22		$	—		$	22

For the Nine Months Ended September 30, 2020
Restructuring accrual as of January 1, 2020	$	43		$	1		$	44
Net pre-tax restructuring costs		3			—			3
Utilization, foreign exchange and other costs		(24	)		(1	)		(25	)
Balance as of September 30, 2020	$	22		$	—		$	22

The following table summarizes the accrual balances and utilization by cost type for the 2018 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2018	$	—		$	—		$	—
Net pre-tax restructuring costs		57			6			63
Utilization, foreign exchange and other costs		(26	)		(4	)		(30	)
Balance at December 31, 2018	$	31		$	2		$	33
Net pre-tax restructuring costs		8			8			16
Utilization, foreign exchange and other costs		(30	)		(9	)		(39	)
Balance at December 31, 2019	$	9		$	1		$	10

The following table summarizes the accrual balances and utilization by cost type for the 2017 restructuring actions:

(dollars in millions)	Severance			Facility Exit, Lease Termination and Other Costs			Total
Balance at January 1, 2017	$	—		$	—		$	—
Net pre-tax restructuring costs		74			2			76
Utilization, foreign exchange and other costs		(33	)		(1	)		(34	)
Balance at December 31, 2017		41			1			42
Net pre-tax restructuring costs		(4	)		5			1
Utilization, foreign exchange and other costs		(26	)		(1	)		(27	)
Balance at December 31, 2018		11			5			16
Net pre-tax restructuring costs		(1	)		1			—
Utilization, foreign exchange and other costs		(7	)		(1	)		(8	)
Balance at December 31, 2019	$	3		$	5		$	8

GUARANTEES (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

GUARANTEES [Abstract]

Schedule of Product Warranty Liability

	For the Nine Months Ended September 30,
(dollars in millions)	2020			2019
Balance as of January 1	$	488		$	473
Warranties, performance guarantees issued and changes in estimated liability		131			133
Settlements made		(111	)		(126	)
Other		1			(2	)
Balance as of September 30	$	509		$	478

The changes in the carrying amount of service and product warranties and product performance guarantees for the years ended December 31, 2019 and 2018 are as follows:

(dollars in millions)	2019			2018
Balance as of January 1	$	473		$	500
Warranties and performance guarantees issued		182			171
Settlement made		(164	)		(191	)
Other		(3	)		(7	)
Balance as of December 31	$	488		$	473

FAIR VALUE MEASUREMENTS (Q3) (Tables)

9 Months Ended

Sep. 30, 2020

FAIR VALUE MEASUREMENTS [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

In accordance with the provisions of ASC Topic 820 –

September 30, 2020
(dollars in millions)	Total				Level 1		Level 2			Level 3
Recurring fair value measurement:
Money market mutual funds	$	38		1	$	—	$	38		$	—
Derivative assets	$	15		2	$	—	$	15		$	—
Derivative liabilities	$	(33	)	3	$	—	$	(33	)	$	—

¹ Included in Cash and cash equivalents on the accompanying Unaudited Condensed Consolidated Balance Sheet

² Included in Other assets, current on the accompanying Unaudited Condensed Consolidated Balance Sheet

³ Included in Accrued liabilities on the accompanying Unaudited Condensed Consolidated Balance Sheet

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

	September 30, 2020				December 31, 2019
(dollars in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Current and long-term debt (excluding finance leases)	$	11,969	$	12,531	$	313	$	313

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

September 30, 2020
(dollars in millions)	Total		Level 1		Level 2		Level 3
Current and long-term debt (excluding finance leases)	$	12,531	$	10,478	$	—	$	2,053

December 31, 2019
(dollars in millions)	Total		Level 1		Level 2		Level 3
Current and long-term debt (excluding finance leases)	$	313	$	—	$	—	$	313

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents changes during the nine months ended September 30, 2020 and 2019 in Level 3 liabilities not measured at fair value on a recurring basis:

	For the Nine Months Ended September 30,
(dollars in millions)	2020			2019
Fair value as of January 1	$	313		$	291
Issuances, including interest on project financing obligations		1,865			118
Settlements		(125	)		(98	)
Fair value as of September 30	$	2,053		$	311

- 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 (Q3) (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

SEGMENT FINANCIAL DATA [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment information for the periods presented are as follows:

	Net Sales						Operating Profit
	For the Three Months Ended September 30,						For the Three Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
HVAC	$	2,892		$	2,602		$	839		$	404
Refrigeration		876			922			103			125
Fire & Security		1,324			1,402			200			205
Total segment		5,092			4,926			1,142			734
Eliminations and other		(90	)		(104	)		(31	)		(63	)
General corporate expenses		—			—			(30	)		(42	)
Consolidated	$	5,002		$	4,822		$	1,081		$	629

	Net Sales						Operating Profit
	For the Nine Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
HVAC	$	7,142		$	7,505		$	1,364		$	1,242
Refrigeration		2,384			2,839			263			373
Fire & Security		3,587			4,078			426			521
Total segment		13,113			14,422			2,053			2,136
Eliminations and other		(251	)		(315	)		(122	)		(95	)
General corporate expenses		—			—			(93	)		(107	)
Consolidated	$	12,862		$	14,107		$	1,838		$	1,934

Segment information for the years ended December 31 is as follows:

	Net sales									Operating profit
(dollars in millions)	2019			2018			2017			2019			2018			2017
HVAC	$	9,712		$	9,713		$	9,045		$	1,563		$	1,720		$	2,001
Refrigeration		3,792			4,095			3,823			532			1,353			562
Fire & Security		5,500			5,531			5,324			708			726			639
Total Segment		19,004			19,339			18,192			2,803			3,799			3,202
Eliminations and other		(396	)		(425	)		(378	)		(156	)		(24	)		(32	)
General corporate expenses		—			—			—			(156	)		(138	)		(140	)
Combined	$	18,608		$	18,914		$	17,814		$	2,491		$	3,637		$	3,030

Total assets are not presented for each segment as they are not presented to or reviewed by the CODM.

	Segment Assets								Capital Expenditures						Depreciation & Amortization
(dollars in millions)	2019		2018			2017			2019		2018		2017		2019		2018		2017
HVAC	$	1,953	$	1,844		$	1,630		$	150	$	149	$	148	$	160	$	164	$	173
Refrigeration		989		998			1,017			30		40		36		34		36		33
Fire & Security		1,728		1,764			1,698			50		45		50		123		141		152
Total Segment		4,670		4,606			4,345			230		234		234		317		341		358
Eliminations and other		10		(4	)		(10	)		13		29		92		18		16		14
Combined	$	4,680	$	4,602		$	4,335		$	243	$	263	$	326	$	335	$	357	$	372
Cash and cash equivalents		952		1,129			1,324
Other assets, current		327		378			341
Total Current Assets	$	5,959	$	6,109		$	6,000

Revenue from External Customers by Geographic Areas

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(dollars in millions)	2020		2019		2020		2019
United States Operations	$	2,780	$	2,541	$	6,983	$	7,473
International Operations
Europe		1,307		1,313		3,455		3,906
Asia Pacific		715		729		1,879		2,079
Other		200		239		545		649
Consolidated	$	5,002	$	4,822	$	12,862	$	14,107

Long-lived assets are net fixed assets attributed to the specific geographic regions:

	External Net sales						Long-Lived Assets
(dollars in millions)	2019		2018		2017		2019		2018		2017
United States Operations	$	9,594	$	9,415	$	8,686	$	701	$	700	$	727
International Operations:
Europe		5,327		5,711		5,323		439		451		480
Asia Pacific		2,813		2,853		2,782		241		244		222
Other		874		935		1,023		282		258		255
	$	18,608	$	18,914	$	17,814	$	1,663	$	1,653	$	1,684

Revenue from External Customers by Products and Services

Segment sales disaggregated by product and service are as follows:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(dollars in millions)	2020			2019			2020			2019
Sales Type
Product	$	2,547		$	2,224		$	6,180		$	6,455
Service		345			378			962			1,050
HVAC sales		2,892			2,602			7,142			7,505
Product		771			823			2,093			2,551
Service		105			99			291			288
Refrigeration sales		876			922			2,384			2,839
Product		965			1,055			2,587			3,011
Service		359			347			1,000			1,067
Fire & Security sales		1,324			1,402			3,587			4,078
Total segment sales		5,092			4,926			13,113			14,422
Eliminations and other		(90	)		(104	)		(251	)		(315	)
Consolidated	$	5,002		$	4,822		$	12,862		$	14,107

Segment sales disaggregated by product versus service for the year ended December 31, 2019, 2018 and 2017 are as follows:

(dollars in millions)	2019			2018			2017
Sales Type
Product	$	8,279		$	8,395		$	7,902
Service		1,433			1,318			1,143
Total HVAC sales		9,712			9,713			9,045
Product		3,405			3,665			3,427
Service		387			430			396
Total Refrigeration sales		3,792			4,095			3,823
Product		4,072			4,039			3,824
Service		1,428			1,492			1,500
Total Fire & Security sales		5,500			5,531			5,324
Total segment sales		19,004			19,339			18,192
Eliminations and other		(396	)		(425	)		(378	)
Combined	$	18,608		$	18,914		$	17,814

DESCRIPTION OF THE BUSINESS (FY) (Details) - Segment	9 Months Ended	12 Months Ended
DESCRIPTION OF THE BUSINESS (FY) (Details) - Segment	Sep. 30, 2020	Dec. 31, 2019
DESCRIPTION OF THE BUSINESS [Abstract]
Number of reportable segments	3	3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (FY) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2020	Sep. 30, 2019
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 5	$ 5	$ 6	$ 5	$ 4
Inventories [Abstract]
Inventory higher value if valued under FIFO method	$ 120	$ 113
Percentage of inventory utilized the LIFO method	32.00%	31.00%
Other Long-Lived Assets [Abstract]
Impairments of long-lived assets	$ 0	$ 0	0
Self-Insurance [Abstract]
Liabilities related to self-insured risks	239	224
Liabilities related to self-insured risks, long-term	66	64
Expense related to self-insurance	177	170	$ 158
Asset Retirement Obligations [Abstract]
Amount of outstanding liability for asset retirement obligations	$ 74	$ 73
Customer Relationships [Member] \| Minimum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	1 year
Customer Relationships [Member] \| Maximum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	30 years
Trademarks and Trade Names [Member] \| Minimum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	5 years
Trademarks and Trade Names [Member] \| Maximum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	30 years
Service Contracts [Member] \| Minimum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	1 year
Service Contracts [Member] \| Maximum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	23 years
Monitoring Lines [Member] \| Minimum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	7 years
Monitoring Lines [Member] \| Maximum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	10 years
Patents [Member] \| Minimum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	7 years
Patents [Member] \| Maximum [Member]
Finite-lived intangible assets [Abstract]
Useful lives of finite-lived intangible assets	8 years

REVENUE RECOGNITION, Contract Assets and Liabilities (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Revenue Recognition [Abstract]
Contract assets, current	$ 753		$ 753		$ 622	$ 566
Contract assets, non-current (included within Other assets)	75		75		57	100
Total contract assets	828		828		679	666
Contract liabilities, current	(495)		(495)		(443)	(448)
Contract liabilities, non-current (included within Other long-term liabilities)	(166)		(166)		(168)	(164)
Total contract liabilities	(661)		(661)		(611)	(612)
Net contract assets	167		167		68	54
Contract with customer, asset, change			149		13	143
Contract with customer, liability, change			50		(1)	4
Contract with customer, liability, revenue recognized	$ 55	$ 53	$ 288	$ 301	$ 362
New Revenue Standard [Member]
Revenue Recognition [Abstract]
Total contract assets						666
Total contract liabilities						$ (612)

REVENUE RECOGNITION, Remaining Performance Obligations (FY) (Details) - USD ($) $ in Billions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue, Performance Obligation Satisfied over Time [Abstract]
Revenue, remaining performance obligation, amount	$ 5.6	$ 4.7	$ 5.3
Revenue, remaining performance obligation, percentage		64.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Revenue, remaining performance obligation, period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Revenue, remaining performance obligation, percentage	73.00%
Revenue, remaining performance obligation, period	12 months

RELATED PARTIES (FY), (Details) - UTC [Member] - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party [Abstract]
Revenue from related parties	$ 0	$ 6,000,000	$ 3,000,000	$ 18,000,000	$ 23,000,000	$ 25,000,000	$ 29,000,000
Related party transaction, selling, general and administrative expenses from transactions with related party	0	62,000,000	43,000,000	178,000,000	245,000,000	277,000,000	240,000,000
Accounts receivable, related parties					16,000,000,000	15,100,000,000
Accounts payable, related parties					3,300,000,000	2,600,000,000	146,000,000
Interest income, related party	0	21,000,000	0	70,000,000	91,000,000	110,000,000	85,000,000
Interest expense, related party	0	$ 12,000,000	0	$ 44,000,000	55,000,000	59,000,000	202,000,000
Accounts receivable, related parties, current	0		0		6,000,000	12,000,000
Accounts payable, related parties, current	$ 0		$ 0		4,000,000	8,000,000
Outstanding guarantees					1,400,000,000	900,000,000
Pre-separation costs					$ 58,000,000	$ 0	$ 0

ACCOUNTS RECEIVABLE, NET (FY) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts receivable net [Abstract]
Accounts receivable	$ 2,960	$ 2,771	$ 2,814
Less: Allowance for expected credit losses	(88)	(45)	(141)
Accounts receivable, net	2,872	2,726	2,673
Bad debt expense	38	18	20	$ 12
Trade Receivables [Member]
Accounts receivable net [Abstract]
Accounts receivable	2,578	2,444	2,549
Less: Allowance for expected credit losses		(61)
Receivables From Affiliates [Member]
Accounts receivable net [Abstract]
Accounts receivable	213	143	113
Miscellaneous Receivables [Member]
Accounts receivable net [Abstract]
Accounts receivable	$ 169	$ 184	$ 152

INVENTORIES, NET (FY) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
INVENTORIES, NET [Abstract]
Raw materials	$ 248	$ 290	$ 336
Work-in-process	148	120	102
Finished goods	1,185	922	925
Inventories, net		1,332	1,363
Inventory valuation reserves	$ 180	$ 152	$ 142

FIXED ASSETS, NET (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
FIXED ASSETS, NET (FY) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fixed assets, net [Abstract]
Fixed assets, gross	$ 3,879		$ 3,879		$ 3,758	$ 3,544
Accumulated depreciation	(2,203)		(2,203)		(2,095)	(1,891)
Fixed assets, net	1,676		1,676		1,663	1,653	$ 1,684
Depreciation	56	$ 54	165	$ 163	219	221	$ 226
Land [Member]
Fixed assets, net [Abstract]
Fixed assets, gross	112		$ 112		$ 113	114
Buildings and Improvements [Member]
Fixed assets, net [Abstract]
Property, plant and equipment, estimated useful life			40 years		40 years
Fixed assets, gross	1,129		$ 1,129		$ 1,138	1,142
Machinery, Tools and Equipment [Member]
Fixed assets, net [Abstract]
Fixed assets, gross	2,047		2,047		1,924	1,815
Rental Assets [Member]
Fixed assets, net [Abstract]
Fixed assets, gross	404		404		395	293
Other, Including Assets Under Construction [Member]
Fixed assets, net [Abstract]
Fixed assets, gross	$ 187		$ 187		$ 188	$ 180
Minimum [Member] \| Machinery, Tools and Equipment [Member]
Fixed assets, net [Abstract]
Property, plant and equipment, estimated useful life			3 years		3 years
Minimum [Member] \| Rental Assets [Member]
Fixed assets, net [Abstract]
Property, plant and equipment, estimated useful life			3 years		3 years
Maximum [Member] \| Machinery, Tools and Equipment [Member]
Fixed assets, net [Abstract]
Property, plant and equipment, estimated useful life			25 years		25 years
Maximum [Member] \| Rental Assets [Member]
Fixed assets, net [Abstract]
Property, plant and equipment, estimated useful life			12 years		12 years

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS, Business Acquisitions and Dispositions (FY) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisitions and Dispositions [Abstract]
Investments in business, net of cash acquired	$ 0	$ 310	$ 176
Proceeds from sale of business in cash	6	1,032	52
Pre-tax gain on sale of Taylor	$ 0	$ 799	$ 0

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS, Goodwill (FY) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill - Beginning Balance	$ 9,884	$ 9,849	$ 10,065
Goodwill resulting from business combinations			195
Foreign currency translation and other	22	35	(411)
Goodwill - Ending Balance	9,906	9,884	9,849
HVAC [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	5,351	5,330	5,472
Goodwill resulting from business combinations			0
Foreign currency translation and other	2	21	(142)
Goodwill - Ending Balance	5,353	5,351	5,330
Refrigeration [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	1,228	1,231	1,417
Goodwill resulting from business combinations			1
Foreign currency translation and other	5	(3)	(187)
Goodwill - Ending Balance	1,233	1,228	1,231
Reduction of goodwill attributable to sale			(151)
Fire & Security [Member]
Goodwill [Roll Forward]
Goodwill - Beginning Balance	3,305	3,288	3,176
Goodwill resulting from business combinations			194
Foreign currency translation and other	15	17	(82)
Goodwill - Ending Balance	$ 3,320	$ 3,305	$ 3,288

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS, Finite and Indefinite-lived Intangible Assets (FY) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-lived Intangible Assets, Net [Abstract]
Gross Amount	$ 2,502	$ 2,462	$ 2,498
Accumulated Amortization	(2,019)	(1,913)	(1,823)
Indefinite-lived Intangible Assets, Net [Abstract]
Total assets	3,043	2,996	3,037
Trademarks And Other [Member]
Indefinite-lived Intangible Assets, Net [Abstract]
Gross Amount	541	534	539
Customer Relationships [Member]
Finite-lived Intangible Assets, Net [Abstract]
Gross Amount	1,506	1,479	1,511
Accumulated Amortization	(1,223)	(1,154)	(1,098)
Patents and Trademarks [Member]
Finite-lived Intangible Assets, Net [Abstract]
Gross Amount	293	287	292
Accumulated Amortization	(213)	(201)	(189)
Monitoring Lines [Member]
Finite-lived Intangible Assets, Net [Abstract]
Gross Amount	67	67	64
Accumulated Amortization	(55)	(52)	(46)
Service Portfolios And Other [Member]
Finite-lived Intangible Assets, Net [Abstract]
Gross Amount	636	629	631
Accumulated Amortization	$ (528)	$ (506)	$ (490)

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS, Future Amortization of Intangible Assets (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS [Abstract]
Amortization of intangible assets	$ 26	$ 30	$ 76	$ 88	$ 116	$ 136	$ 146
Future Amortization [Abstract]
2020					101
2021					91
2022					72
2023					63
2024					$ 55

ACCRUED LIABILITIES (FY) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
ACCRUED LIABILITIES [Abstract]
Accrued salaries, wages and employee benefits	$ 516	$ 519
Accrued taxes	318	325
Warranty related	200	190
Project financing obligations	234	150
Accrued restructuring	66	56
Accrued legal and environmental reserves	24	26
Customer advances and deferred revenue	26	24
Other	941	784
Accrued Liabilities	$ 2,325	$ 2,074

OTHER LONG-TERM LIABILITIES (FY) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
OTHER LONG-TERM LIABILITIES [Abstract]
Warranty related		$ 288	$ 283
Environmental reserves	$ 220	203	200
Project financing obligations		75	137
Asset retirement obligations		74	73
Other		625	610
Other long-term liabilities		$ 1,265	$ 1,303

EMPLOYEE BENEFIT PLANS (FY) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
EMPLOYEE BENEFIT PLANS [Abstract]
Defined contribution plans, employer contribution	$ 23.0	$ 22.0		$ 78.0	$ 71.0	$ 88.0	$ 94.0	$ 86.0
Change in Benefit Obligation [Roll Forward]
Service cost	7.0	7.0		22.0	23.0
Interest cost	13.0	17.0		39.0	50.0
Change in Plan Assets [Roll Forward]
Employer contributions	1.0	2.0		29.0	29.0
Amounts Recognized in the Combined Balance Sheets [Abstract]
Noncurrent assets	574.0		$ 574.0	574.0					$ 490.0	$ 441.0
Noncurrent liability	(473.0)		(473.0)	(473.0)					(456.0)	(419.0)
Postretirement Benefit Plan [Abstract]
Net periodic benefit cost	(9.0)	(11.0)		$ (25.0)	(33.0)
Stock Based Compensation [Abstract]
Expiration period				10 years		10 years
Award vesting period				3 years		3 years
Share-based payment arrangement, expense	21.0	$ 18.0		$ 56.0	40.0	$ 52.0	44.0	34.0
Share-based payment arrangement, future income tax benefit recognized						11.0	10.0	8.0
Cash received from the exercise of stock options						3.0	4.0	7.0
Stock option tax benefit realized						16.0	7.0	19.0
Stock option tax benefit realized vesting performance and other restricted awards						$ 9.0	$ 2.0	$ 4.0
Unrecognized compensation costs	$ 107.0		$ 107.0	$ 107.0					62.0
Stock Option [Member]
Stock Based Compensation [Abstract]
Cost not yet recognized, period for recognition				2 years 2 months 12 days		2 years 6 months
Granted (in dollars per shares)						$ 21.02	$ 20.25	$ 17.55
Fair value award vested						$ 80.0	$ 43.0	$ 63.0
Stock Appreciation Rights (SARs) [Member]
Stock Based Compensation [Abstract]
Granted (in dollars per shares)						$ 21.02	$ 20.25	$ 17.55
Fair value award vested						$ 80.0	$ 43.0	$ 63.0
Performance Shares [Member]
Stock Based Compensation [Abstract]
Granted (in dollars per share)			$ 18.23			$ 112.76	$ 131.42	$ 111.00
Fair value of restricted awards vested						$ 45.0	$ 14.0	$ 18.0
Restricted Stock Units [Member]
Stock Based Compensation [Abstract]
Granted (in dollars per share)			$ 18.98
Fair value of restricted awards vested						$ 45.0	14.0	18.0
Minimum [Member]
Stock Based Compensation [Abstract]
Award requisite service period				3 years		3 years
Pension Plan [Member]
Change in Benefit Obligation [Roll Forward]
Beginning balance				$ 2,885.0	2,581.0	$ 2,581.0	2,822.0
Service cost						31.0	33.0	34.0
Interest cost						67.0	64.0	65.0
Actuarial (gain) loss						351.0	(110.0)
Benefits paid						(132.0)	(114.0)
Net settlement, curtailment and special termination benefits						(38.0)	(8.0)
Other						25.0	(106.0)
Ending balance						2,885.0	2,581.0	2,822.0
Change in Plan Assets [Roll Forward]
Beginning balance				2,953.0	2,635.0	2,635.0	3,000.0
Actual return on plan assets						381.0	(162.0)
Employer contributions						36.0	45.0
Benefits paid						(132.0)	(114.0)
Settlements						(14.0)	(7.0)
Other						47.0	(127.0)
Ending balance						2,953.0	2,635.0	3,000.0
Funded Status [Abstract]
Fair value of plan assets				2,953.0	2,635.0	2,953.0	2,635.0	3,000.0	2,953.0	2,635.0
Benefit obligations				(2,885.0)	(2,581.0)	(2,885.0)	(2,581.0)	(2,822.0)	(2,885.0)	(2,581.0)
Funded status of plan									68.0	54.0
Amounts Recognized in the Combined Balance Sheets [Abstract]
Noncurrent assets									488.0	442.0
Current liability									(9.0)	(16.0)
Noncurrent liability									(411.0)	(372.0)
Net amount recognized									68.0	54.0
Amounts Recognized in Accumulated Other Comprehensive Loss [Abstract]
Net actuarial loss									577.0	482.0
Prior service cost									15.0	11.0
Net amount recognized									592.0	$ 493.0
Expected Future Benefit Payments [Abstract]
2020									127.0
2021									120.0
2022									123.0
2023									125.0
2024									126.0
2025 through 2029									$ 665.0
Postretirement Benefit Plan [Abstract]
Net periodic benefit cost						$ (41.0)	$ (55.0)	$ (48.0)
Projected benefit obligation discount rate									2.00%	2.80%
Net cost discount rate						2.80%	2.50%	2.70%
Global Defined Benefit Pension Plans [Member]
Expected Future Benefit Payments [Abstract]
Expected contributions in 2020									$ 29.0
Postretirement Benefits Plan [Member]
Change in Benefit Obligation [Roll Forward]
Beginning balance				6.0	6.0	$ 6.0
Ending balance						6.0	$ 6.0
Funded Status [Abstract]
Benefit obligations				$ (6.0)	$ (6.0)	(6.0)	(6.0)		(6.0)	$ (6.0)
Expected Future Benefit Payments [Abstract]
2020									0.3
2021									0.3
2022									0.2
2023									0.2
2024									0.2
2025 through 2029									$ 1.1
Postretirement Benefit Plan [Abstract]
Net periodic benefit cost						0.2	$ 0.2	$ 0.3
Changes in benefit obligations recognized in other comprehensive income						$ 1.0
Projected benefit obligation discount rate									3.00%	3.60%
Net cost discount rate						3.60%	3.40%	3.70%

EMPLOYEE BENEFIT PLANS, Pension Plans with Accumulated Benefit Obligations and Projected Benefit Obligations in Excess of Plan Assets (FY) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	$ 549	$ 501
Accumulated benefit obligation	506	463
Fair value of plan assets	137	125
Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	690	616
Accumulated benefit obligation	630	564
Fair value of plan assets	270	228
Pension Plan [Member]
Employee Benefit Plans [Abstract]
Cash contributions to defined benefit pension plans	$ 36	$ 45	$ 44
United States [Member] \| Pension Plan [Member]
Employee Benefit Plans [Abstract]
Percentage of projected benefit obligation	9.00%
Foreign Plan [Member] \| Pension Plan [Member]
Employee Benefit Plans [Abstract]
Percentage of projected benefit obligation	91.00%

EMPLOYEE BENEFIT PLANS, Pension Plan (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Benefits [Abstract]
Service cost	$ 7	$ 7	$ 22	$ 23
Interest cost	13	17	39	50
Expected return on plan assets	(35)	(37)	(104)	(115)
Recognized actuarial net loss	5	2	15	7
Amortization of prior service credit	1	0	2	1
Net settlement, curtailment and special termination benefit loss	0	0	1	1
Net periodic pension benefit - employer	$ (9)	$ (11)	$ (25)	$ (33)
Pension Plan [Member]
Pension Benefits [Abstract]
Accumulated benefit obligation for defined benefit pension plans					$ 2,885	$ 2,581	$ 2,822
Service cost					31	33	34
Interest cost					67	64	65
Expected return on plan assets					(154)	(170)	(160)
Recognized actuarial net loss					9	16	14
Amortization of prior service credit					2	1	2
Net settlement, curtailment and special termination benefit loss					4	1	(3)
Net periodic pension benefit - employer					$ (41)	$ (55)	$ (48)

EMPLOYEE BENEFIT PLANS, Changes in Plan Assets and Benefit Obligations Recognized Other Comprehensive Loss (FY) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss [Abstract]
Current year actuarial loss	$ 112	$ 221	$ 13
Total recognized in other comprehensive loss	98	$ 192	$ 16
Pension Plan [Member]
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss [Abstract]
Current year actuarial loss	112
Amortization of actuarial loss	(9)
Amortization of prior service cost	(2)
Net settlement and curtailment gain	(4)
Other	2
Total recognized in other comprehensive loss	99
Net recognized in net periodic pension benefit and other comprehensive loss	$ 58

EMPLOYEE BENEFIT PLANS, Accumulated Other Comprehensive Loss Net Periodic Pension Benefit (FY) (Details) - Pension Plan [Member] $ in Millions	Dec. 31, 2019 USD ($)
Amortization from Accumulated Other Comprehensive Loss into Net Periodic Pension Benefit in 2020 [Abstract]
Net actuarial loss	$ 18
Prior service cost	1
Total accumulated other comprehensive loss	$ 19

EMPLOYEE BENEFIT PLANS, Assumptions in Benefit Obligation and Net Cost Pension Plans (FY) (Details) - Pension Plan [Member]

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]

Discount rate

2.00%

2.80%

Salary scale

3.40%

3.00%

Weighted Average Assumptions Used in Calculating Net Cost [Abstract]

Net cost discount rate

2.80%

2.50%

2.70%

Interest cost

^[1]

0.027

0.024

0.025

Service cost

^[1]

0.032

0.028

0.031

Salary scale

3.00%

2.60%

Expected return on plan assets

5.60%

6.00%

6.20%

Growth Seeking Assets [Member]

Weighted Average Assumptions Used in Calculating Net Cost [Abstract]

Investment percentage within plan asset category

40.00%

Income Generating and Hedging Assets [Member]

Weighted Average Assumptions Used in Calculating Net Cost [Abstract]

Investment percentage within plan asset category

60.00%

[1]	Obligation discount rate is used for the service cost and interest cost measurements for non-significant plans.

EMPLOYEE BENEFIT PLANS, Multiemployer Benefit Plans (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension and Retirement Expenses [Abstract]
Service cost	$ 7	$ 7	$ 22	$ 23
Non-service pension benefit	(16)	(47)	(47)	(124)	$ 154	$ 168	$ 139
Net periodic pension benefit - employer	(9)	(11)	(25)	(33)
UTC Sponsored Defined Benefit Plans [Member]
Pension and Retirement Expenses [Abstract]
Service cost	0	4	0	13	18	22	23
Non-service pension benefit	0	(20)	(2)	(59)	(81)	(80)	(57)
Net periodic pension benefit - employer	$ 0	$ (16)	$ (2)	$ (46)	$ (63)	(58)	(34)
Pension Plan [Member]
Multiemployer Plan, Pension, Significant [Abstract]
Minimum funding percentage, individually significant					At least 80 percent
Pension and Retirement Expenses [Abstract]
Service cost					$ 31	33	34
Net periodic pension benefit - employer					(41)	(55)	$ (48)
Pension Plan [Member] \| Pension Fund [Member]
Multiemployer Plan, Pension, Significant [Abstract]
Contributions					$ 20	$ 21
Pension Plan [Member] \| Metal and Technology Industry Pension Plan [Member]
Multiemployer Plan, Pension, Significant [Abstract]
Zone Status					Green	Green
FIP/RP Status Pending/Implemented					No
Contributions					$ 6	$ 6
Surcharge imposed					No
Expiration date of Collective-Bargaining Agreement					Sep. 30, 2021
Pension Plan [Member] \| Other Funds [Member]
Multiemployer Plan, Pension, Significant [Abstract]
Contributions					$ 14	$ 15

EMPLOYEE BENEFIT PLANS, LTIP Activity (FY) (Details) - $ / shares
shares in Thousands

6 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Shares Outstanding [Roll Forward]

Exercised/earned (in shares)

(984)

Average Price [Abstract]

Exercised/earned (in dollars per share)

$ 15.52

Stock Option [Member]

Shares Outstanding [Roll Forward]

Beginning balance (in shares)

Granted (in shares)

Ancillary (in shares)

Exercised/earned (in shares)

(35)

Cancelled (in shares)

(1)

Net Transfers (in shares)

^[1]

(1)

Ending balance (in shares)

Average Price [Abstract]

Beginning balance (in dollars per share)

^[2]

$ 85.86

Granted (in dollars per share)

^[2]

133.19

Ancillary (in dollars per share)

^[2]

Exercised/earned (in dollars per share)

^[2]

87.18

Cancelled (in dollars per share)

^[2]

110.83

Net Transfers (in dollars per share)

^[1],[2]

95.23

Ending balance (in dollars per share)

^[2]

$ 91.06

Stock Appreciation Rights (SARs) [Member]

Shares Outstanding [Roll Forward]

Beginning balance (in shares)

5,635

Granted (in shares)

1,673

Ancillary (in shares)

Exercised/earned (in shares)

(1,658)

Cancelled (in shares)

(157)

Net Transfers (in shares)

^[1]

665

Ending balance (in shares)

6,158

Average Price [Abstract]

Beginning balance (in dollars per share)

^[2]

$ 100.16

Granted (in dollars per share)

^[2]

124.37

Ancillary (in dollars per share)

^[2]

Exercised/earned (in dollars per share)

^[2]

89.30

Cancelled (in dollars per share)

^[2]

120.41

Net Transfers (in dollars per share)

^[1],[2]

105.29

Ending balance (in dollars per share)

^[2]

109.71

Performance Share Units [Member]

Average Price [Abstract]

Beginning balance (in dollars per share)

^[2]

110.59

Granted (in dollars per share)

^[2]

121.79

Ancillary (in dollars per share)

^[2],[3]

95.53

Exercised/earned (in dollars per share)

^[2]

95.54

Cancelled (in dollars per share)

^[2]

112.39

Net Transfers (in dollars per share)

^[1],[2]

108.91

Ending balance (in dollars per share)

^[2]

$ 120.16

Units Outstanding [Roll Forward]

Beginning balance (in shares)

289

Granted (in shares)

728

142

Ancillary (in shares)

^[3]

Exercised/earned (in shares)

(155)

Cancelled (in shares)

(22)

(25)

Net Transfers (in shares)

^[1]

Ending balance (in shares)

774

362

Other Incentive Shares [Member]

Units Outstanding [Roll Forward]

Beginning balance (in shares)

499

Granted (in shares)

219

Ancillary (in shares)

Exercised/earned (in shares)

(211)

Cancelled (in shares)

(35)

Net Transfers (in shares)

^[1]

121

Ending balance (in shares)

593

[1]	Represents net activity related to employee movement between UTC business units and other miscellaneous adjustments.
[2]	Weighted-average grant/exercise price
[3]	Ancillary shares granted based on actual performance achieved on the 2016 award

EMPLOYEE BENEFIT PLANS, LTIP Awards Vested and Expected to Vest and Exercisable (FY) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Stock Options and Stock Appreciation Rights [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vest and expected to vest (in shares)

36,868

6,083

Options vested and expected to vest (in dollars per share)

$ 19.61

$ 109.31

^[1]

Options vested and expected to vest, aggregate intrinsic value

$ 403,105

$ 246,000

Options vested and expected to vest, weighted average remaining contractual term

6 years 8 months 12 days

6 years 1 month 6 days

^[2]

Options exercisable (in shares)

16,173

3,333

Options exercisable (in dollars per share)

$ 16.97

$ 98.4

^[1]

Options exercisable, aggregate intrinsic value

$ 219,447

$ 171,000

Options exercisable, weighted average remaining contractual term

4 years 2 months 12 days

4 years 3 months 18 days

^[2]

Performance Share Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance shares vested and expected to vest (in shares)

6,291

1,006

Performance shares vested and expected to vest (in dollars per share)

$ 20.96

$ 0

^[1]

Performance shares vested and expected to vest, aggregate intrinsic value

$ 192,116

$ 151,000

Performance shares vested and expected to vest, weighted average remaining contractual term

1 year 9 months 18 days

1 year 8 months 12 days

^[2]

[1]	Weighted-average exercise price per share
[2]	Weighted-average contractual remaining term in years

EMPLOYEE BENEFIT PLANS, Fair Value Assumptions (FY) (Details) - Stock Option [Member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility			19.00%
Weighted-average volatility	20.00%	18.00%	19.00%
Expected term (in years)			6 years 6 months
Expected dividend yield	2.40%	2.20%	2.40%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	18.80%	17.50%
Expected term (in years)	6 years 6 months	6 years 6 months
Range of risk-free rate	2.30%	1.30%	0.50%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	19.70%	21.10%
Expected term (in years)	6 years 7 months 6 days	6 years 7 months 6 days
Range of risk-free rate	2.70%	2.70%	2.50%

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	$ 4,366	$ 14,960	$ 14,435	$ 14,269	$ 14,269	$ 14,784	$ 14,960
Other comprehensive income (loss) before reclassifications, net					(57)	(650)	686
Amounts reclassified, pre-tax					13	19	(387)
Tax expense reclassified					15	33	168
Balance	5,437	14,644	5,437	14,644	14,435	14,269	14,784
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(1,018)	(821)	(780)	(834)	(834)	(393)	(1,130)
Other comprehensive income (loss) before reclassifications, net	302	(274)	64	(261)	52	(441)	747
Amounts reclassified, pre-tax	0	0	0	0	2	0	(10)
Tax expense reclassified	0		0		0	0	0
Balance	(716)	(1,095)	(716)	(1,095)	(780)	(834)	(393)
Defined Benefit Pension and Postretirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(461)	(381)	(473)	(381)	(381)	(222)	(211)
Other comprehensive income (loss) before reclassifications, net	0	0	2	2	(109)	(209)	(32)
Amounts reclassified, pre-tax	6	2	18	9	11	17	16
Tax expense reclassified	(1)		(3)		15	33	5
Balance	(456)	(379)	(456)	(379)	(473)	(381)	(222)
Unrealized Gains (Losses) on Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance			0	0	0	0	262
Other comprehensive income (loss) before reclassifications, net					0	0	(31)
Amounts reclassified, pre-tax					0	0	(394)
Tax expense reclassified					0	0	163
Balance					0	0	0
Unrealized Hedging Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance			0	0	0	(2)	(5)
Other comprehensive income (loss) before reclassifications, net					0	0	2
Amounts reclassified, pre-tax					0	2	1
Tax expense reclassified					0	0	0
Balance					0	0	(2)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(1,479)	(1,202)	(1,253)	(1,215)	(1,215)	(617)	(1,084)
Other comprehensive income (loss) before reclassifications, net	302	(274)	66	(259)
Amounts reclassified, pre-tax	6	2	18	9
Tax expense reclassified	(1)		(3)
Balance	$ (1,172)	(1,474)	(1,172)	(1,474)	(1,253)	(1,215)	$ (617)
Cumulative Effect, Period of Adoption, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance			$ (4)	0	0
Balance					(4)	0
Cumulative Effect, Period of Adoption, Adjustment [Member] \| Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance		0		0
Cumulative Effect, Period of Adoption, Adjustment [Member] \| Defined Benefit Pension and Postretirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance		(9)		(9)
Cumulative Effect, Period of Adoption, Adjustment [Member] \| Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance				(9)	(9)
Balance		$ (9)		(9)		(9)
Cumulative Effect, Period of Adoption, Adjustment [Member] \| ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance				0	0
Balance						0
Cumulative Effect, Period of Adoption, Adjustment [Member] \| ASU 2018-02 [Member] \| Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance				0	0
Balance						0
Cumulative Effect, Period of Adoption, Adjustment [Member] \| ASU 2018-02 [Member] \| Defined Benefit Pension and Postretirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance				(9)	(9)
Balance						(9)
Cumulative Effect, Period of Adoption, Adjustment [Member] \| ASU 2018-02 [Member] \| Unrealized Gains (Losses) on Available-for-Sale Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance				0	0
Balance						0
Cumulative Effect, Period of Adoption, Adjustment [Member] \| ASU 2018-02 [Member] \| Unrealized Hedging Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance				0	0
Balance						0
Cumulative Effect, Period of Adoption, Adjustment [Member] \| ASU 2018-02 [Member] \| Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance				$ (9)	$ (9)
Balance						$ (9)

INCOME TAXES (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
INCOME TAXES (FY) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Before Income Taxes [Abstract]
United States					$ 1,460	$ 2,360	$ 1,620
Foreign					1,212	1,482	1,434
Income from operations before income taxes	$ 1,009	$ 679	$ 1,679	$ 2,081	2,672	3,842	3,054
Undistributed earnings					6,000
Current [Abstract]
United States, Federal					262	479	1,318
United States, State					72	119	99
Foreign					305	342	342
Current income tax expense (benefit)					639	940	1,759
Future [Abstract]
United States, Federal					(14)	(37)	22
United States, State					(2)	24	2
Foreign					(106)	146	4
Deferred income tax expense (benefit)					(122)	133	28
Income tax expense	$ 261	$ 175	$ 560	$ 380	517	1,073	1,787
Attributable to items credited to UTC Net Investment					$ (36)	$ (68)	$ (168)

INCOME TAXES, Reconciliation of Effective Income Tax Rate (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
INCOME TAXES [Abstract]
Statutory U.S. federal income tax rate					21.00%	21.00%	35.00%
State income taxes					2.50%	2.60%	1.80%
Tax on international activities					2.50%	4.40%	(3.40%)
Tax audit settlements					(5.60%)	0.00%	(0.40%)
U.S. tax reform adoption					0.00%	0.00%	26.10%
Other					(1.00%)	(0.10%)	(0.60%)
Effective income tax rate	25.90%	25.80%	33.40%	18.30%	19.40%	27.90%	58.50%
Net tax benefit from participation in amnesty program	$ 149				$ (149)
Net tax charge from reinvestment of certain undistributed earnings of international subsidiaries			$ 46			$ 102
Net tax charge attributable to passage of TCJA							$ 799

INCOME TAXES, Deferred Tax Assets and Liabilities (FY) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Future income tax benefits [Abstract]
Insurance and employee benefits	$ 76	$ 76
Other asset basis differences	128	126
Other liability basis differences	556	331
Tax loss carryforward	236	159
Tax credit carryforwards	55	60
Valuation allowances	(128)	(107)
Deferred tax assets	923	645
Future income taxes payable [Abstract]
Intangible assets	392	403
Other asset basis differences	297	165
Deferred tax liabilities	$ 689	$ 568

INCOME TAXES, Tax Credit and Loss Carryforwards (FY) (Details) $ in Millions	Dec. 31, 2019 USD ($)
Tax Credit and Loss Carryforwards [Abstract]
Tax loss carryforwards	$ 1,080
Tax credit carryforwards	55
2020-2024 [Member]
Tax Credit and Loss Carryforwards [Abstract]
Tax loss carryforwards	52
Tax credit carryforwards	8
2025-2029 [Member]
Tax Credit and Loss Carryforwards [Abstract]
Tax loss carryforwards	105
Tax credit carryforwards	3
2030-2039 [Member]
Tax Credit and Loss Carryforwards [Abstract]
Tax loss carryforwards	41
Tax credit carryforwards	1
Indefinite [Member]
Tax Credit and Loss Carryforwards [Abstract]
Tax loss carryforwards	882
Tax credit carryforwards	$ 43

INCOME TAXES, Unrecognized Tax Benefits (FY) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
INCOME TAXES [Abstract]
Balance at January 1		$ 316	$ 290	$ 243
Additions for tax positions related to the current year		30	27	54
Additions for tax positions of prior years		14	3	17
Reductions for tax positions of prior years		(19)	(4)	(20)
Settlements		(175)	0	(4)
Balance at December 31		166	316	290
Gross interest expense related to unrecognized tax benefits		8	8	4
Total accrued interest balance at December 31		25	$ 33	24
Unrecognized Tax Benefits [Abstract]
Non-cash gain recognized	$ (166)			(20)
Pre-tax interest adjustment	$ (16)			$ (2)
Minimum [Member]
Unrecognized Tax Benefits [Abstract]
Increase in unrecognized tax benefits over next 12 months		14
Maximum [Member]
Unrecognized Tax Benefits [Abstract]
Increase in unrecognized tax benefits over next 12 months		$ 18

RESTRUCTURING COSTS (FY), Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	$ 3	$ 34	$ 19	$ 97	$ 126	$ 80	$ 111
Cost of Sales [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	(1)	14	5	27	36	36	48
Selling, General and Administrative [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	4	20	14	70	90	44	63
2019 Actions [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			43	0	0
Net pre-tax restructuring costs					110
Utilization, foreign exchange and other costs					(67)
Ending balance					43	0
Expected. Incurred and Remaining Costs [Abstract]
Expected costs					120
Costs incurred					(110)
Remaining costs					10
2019 Actions [Member] \| Severance [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			42	0	0
Net pre-tax restructuring costs					102
Utilization, foreign exchange and other costs					(60)
Ending balance					42	0
2019 Actions [Member] \| Facility Exit, Lease Termination and Other Costs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			1	0	0
Net pre-tax restructuring costs					8
Utilization, foreign exchange and other costs					(7)
Ending balance					1	0
2019 Actions [Member] \| Cost of Sales [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					29
2019 Actions [Member] \| Selling, General and Administrative [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					81
2018 Actions [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			10	33	33	0
Net pre-tax restructuring costs					16	63
Utilization, foreign exchange and other costs					(39)	(30)
Ending balance					10	33	0
Expected. Incurred and Remaining Costs [Abstract]
Expected costs						87
Costs incurred					(16)	(63)
Remaining costs					8
2018 Actions [Member] \| Severance [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			9	31	31	0
Net pre-tax restructuring costs					8	57
Utilization, foreign exchange and other costs					(30)	(26)
Ending balance					9	31	0
2018 Actions [Member] \| Facility Exit, Lease Termination and Other Costs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			1	2	2	0
Net pre-tax restructuring costs					8	6
Utilization, foreign exchange and other costs					(9)	(4)
Ending balance					1	2	0
2018 Actions [Member] \| Cost of Sales [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					7
2018 Actions [Member] \| Selling, General and Administrative [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					9
2017 Actions [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			8	16	16	42	0
Net pre-tax restructuring costs					0	1	76
Utilization, foreign exchange and other costs					(8)	(27)	(34)
Ending balance					8	16	42
2017 Actions [Member] \| Severance [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			3	11	11	41	0
Net pre-tax restructuring costs					(1)	(4)	74
Utilization, foreign exchange and other costs					(7)	(26)	(33)
Ending balance					3	11	41
2017 Actions [Member] \| Facility Exit, Lease Termination and Other Costs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			5	5	5	1	0
Net pre-tax restructuring costs					1	5	2
Utilization, foreign exchange and other costs					(1)	(1)	(1)
Ending balance					5	5	1
2016 Actions [Member]
Restructuring Reserve [Roll Forward]
Beginning balance			5
Net pre-tax restructuring costs					0
Ending balance					5
Operating Segments [Member] \| HVAC [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	0	12	3	47	56	20	36
Operating Segments [Member] \| Refrigeration [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	(1)	7	2	14	14	23	13
Operating Segments [Member] \| Fire & Security [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	4	14	13	35	53	34	57
Operating Segments [Member] \| 2019 Actions [Member] \| HVAC [Member]
Expected. Incurred and Remaining Costs [Abstract]
Expected costs					53
Costs incurred					(51)
Remaining costs					2
Operating Segments [Member] \| 2019 Actions [Member] \| Refrigeration [Member]
Expected. Incurred and Remaining Costs [Abstract]
Expected costs					16
Costs incurred					(14)
Remaining costs					2
Operating Segments [Member] \| 2019 Actions [Member] \| Fire & Security [Member]
Expected. Incurred and Remaining Costs [Abstract]
Expected costs					49
Costs incurred					(43)
Remaining costs					6
Operating Segments [Member] \| 2018 Actions [Member] \| HVAC [Member]
Expected. Incurred and Remaining Costs [Abstract]
Expected costs						24
Costs incurred					(7)	(17)
Remaining costs					0
Operating Segments [Member] \| 2018 Actions [Member] \| Refrigeration [Member]
Expected. Incurred and Remaining Costs [Abstract]
Expected costs						26
Costs incurred					0	(21)
Remaining costs					5
Operating Segments [Member] \| 2018 Actions [Member] \| Fire & Security [Member]
Expected. Incurred and Remaining Costs [Abstract]
Expected costs						34
Costs incurred					(9)	(22)
Remaining costs					3
Eliminations and Other [Member]
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	$ 0	$ 1	$ 1	$ 1	3	3	$ 5
Eliminations and Other [Member] \| 2019 Actions [Member]
Expected. Incurred and Remaining Costs [Abstract]
Expected costs					2
Costs incurred					(2)
Remaining costs					0
Eliminations and Other [Member] \| 2018 Actions [Member]
Expected. Incurred and Remaining Costs [Abstract]
Expected costs						3
Costs incurred					0	$ (3)
Remaining costs					$ 0

EQUITY METHOD INVESTMENTS (FY) (Details)	3 Months Ended						9 Months Ended		12 Months Ended
EQUITY METHOD INVESTMENTS (FY) (Details)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) Affiliate	Dec. 31, 2018 USD ($) Affiliate	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Equity Method Investments [Abstract]
Number of uncombined domestic and foreign affiliates \| Affiliate									30	31
Summarized Financial Information [Abstract]
Current assets	$ 9,334,000,000						$ 9,334,000,000		$ 5,959,000,000	$ 6,109,000,000	$ 6,000,000,000
Total Assets	25,728,000,000						25,728,000,000		22,406,000,000	21,737,000,000
Current liabilities	5,182,000,000						5,182,000,000		4,469,000,000	4,466,000,000
Total Liabilities	20,291,000,000						20,291,000,000		7,971,000,000	7,468,000,000
Total net equity of investees	5,437,000,000	$ 4,366,000,000	$ 3,026,000,000	$ 14,644,000,000	$ 14,960,000,000	$ 14,690,000,000	5,437,000,000	$ 14,644,000,000	14,435,000,000	14,269,000,000	14,784,000,000	$ 14,960,000,000
Net sales	5,002,000,000			4,822,000,000			12,862,000,000	14,107,000,000	18,608,000,000	18,914,000,000	17,814,000,000
Net income	748,000,000	$ 269,000,000	102,000,000	504,000,000	$ 794,000,000	$ 403,000,000	1,119,000,000	1,701,000,000	2,155,000,000	2,769,000,000	1,267,000,000
Non-cash pre-tax charge				108,000,000			72,000,000	108,000,000	108,000,000	0	0
Equity Method Investee [Member]
Summarized Financial Information [Abstract]
Non-cash pre-tax charge			$ 71,000,000
Revenue from related parties	576,000,000			498,000,000			1,400,000,000	1,400,000,000	1,800,000,000	1,900,000,000	1,900,000,000
Related parties amount in cost of sales	70,000,000			$ 96,000,000			213,000,000	$ 274,000,000	368,000,000	355,000,000	378,000,000
Accounts receivable, related parties	213,000,000						213,000,000		137,000,000	101,000,000
Accounts payable, related parties	$ 40,000,000						$ 40,000,000		55,000,000	74,000,000
Equity Method Investee [Member] \| Previously Reported [Member]
Summarized Financial Information [Abstract]
Related parties amount in cost of sales										600,000,000	600,000,000
Equity Method Investments [Member]
Summarized Financial Information [Abstract]
Current assets									4,324,000,000	4,123,000,000
Noncurrent assets									2,058,000,000	1,703,000,000
Total Assets									6,382,000,000	5,826,000,000
Current liabilities									2,310,000,000	2,204,000,000
Noncurrent liabilities									592,000,000	445,000,000
Total Liabilities									2,902,000,000	2,649,000,000
Total net equity of investees									3,480,000,000	3,177,000,000
Net sales									9,622,000,000	9,142,000,000	8,697,000,000
Gross Profit									1,741,000,000	1,673,000,000	1,606,000,000
Income from continuing operations									578,000,000	645,000,000	561,000,000
Net income									$ 578,000,000	$ 645,000,000	$ 561,000,000
Minimum [Member]
Equity Method Investments [Abstract]
Ownership interest in equity method investments									20.00%
Maximum [Member]
Equity Method Investments [Abstract]
Ownership interest in equity method investments									50.00%

OTHER INCOME (EXPENSE), NET (FY) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
OTHER INCOME (EXPENSE), NET [Abstract]
Transaction gains					$ 0	$ 799	$ 379
Impairment of equity method investment		$ (108)	$ (72)	$ (108)	(108)	0	0
Other					106	138	196
Total	$ 239	$ (91)	$ 168	$ (42)	$ (2)	$ 937	$ 575

GUARANTEES (FY) (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
GUARANTEES (FY) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Movement in Product Warranty Accrual [Roll Forward]
Beginning balance	$ 488	$ 473	$ 473	$ 500
Warranties and performance guarantees issued	131	133	182	171
Settlement made	(111)	(126)	(164)	(191)
Other	1	(2)	(3)	(7)
Ending balance	$ 509	$ 478	488	473
Indemnification Agreement for Divested Business [Member]
Guarantees [Abstract]
Carrying amount of liabilities related to obligations			$ 10	$ 10

LEASES (FY) (Details) - USD ($) $ in Millions	12 Months Ended
LEASES (FY) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2020
Leases [Abstract]
Operating lease expense	$ 206
Supplemental Cash Flow Information Related Operating Lease [Abstract]
Operating cash flows used for the measurement of operating lease liabilities	(201)
Operating lease right-of-use assets obtained in exchange for operating lease obligations	136
Operating Lease Right-of-Use Assets and Liabilities [Abstract]
Operating lease right-of-use assets	832	$ 0		$ 823
Accrued liabilities	$ (163)
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent
Operating lease liabilities	$ (682)	0		$ (676)
Total operating lease liabilities	$ (845)
Supplemental Information Related to Operating Leases [Abstract]
Weighted-Average Remaining Lease Term (in years)	8 years
Weighted-Average Discount Rate	3.60%
Undiscounted Maturities of Operating Lease Liabilities [Abstract]
2020	$ 182
2021	151
2022	121
2023	97
2024	73
Thereafter	315
Total undiscounted lease payments	939
Less imputed interest	(94)
Total discounted lease payments	$ 845
Maturities of Operating Lease Liabilities Prior to Adoption of New Lease Accounting Standards [Abstract]
2019		189
2020		146
2021		110
2022		77
2023		52
Thereafter		111
Total long-term non-cancelable operating leases		685
Operating lease rent expense		167	$ 164
ASU 2016-02 [Member]
Operating Lease Right-of-Use Assets and Liabilities [Abstract]
Operating lease right-of-use assets		894
Total operating lease liabilities		(901)
Undiscounted Maturities of Operating Lease Liabilities [Abstract]
Total discounted lease payments		$ 901
Minimum [Member]
Leases [Abstract]
Remaining lease term	1 year
Maximum [Member]
Leases [Abstract]
Remaining lease term	25 years
Term of extension	3 years
Termination period	1 year

CONTINGENT LIABILITIES (FY) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Commitments [Abstract]
Accrual for environmental loss contingencies	$ 233	$ 217	$ 215
Accrued environmental loss contingencies, current	13	14	15
Accrued environmental loss contingencies, noncurrent	220	203	$ 200
Loss contingency, receivable	104	104
Minimum [Member] \| Asbestos Matters
Other Commitments [Abstract]
Loss contingency accrual	250	255
Maximum [Member] \| Asbestos Matters
Other Commitments [Abstract]
Loss contingency accrual	$ 290	$ 290

SEGMENT FINANCIAL DATA (FY) (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
SEGMENT FINANCIAL DATA (FY) (Details) $ in Millions	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) Segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Segment Information [Abstract]
Number of operating segments \| Segment					3
Net sales	$ 5,002	$ 4,822	$ 12,862	$ 14,107	$ 18,608	$ 18,914	$ 17,814
Operating profit	1,081	629	1,838	1,934	2,491	3,637	3,030
Segment assets					4,680	4,602	4,335
Cash and cash equivalents	3,848	862	3,848	862	952	1,129	1,324
Other assets, current	280		280		327	378	341
Total Current Assets	9,334		9,334		5,959	6,109	6,000
Capital expenditures			151	139	243	263	326
Depreciation and amortization			241	251	335	357	372
Long-lived assets	1,676		1,676		1,663	1,653	1,684
Product [Member]
Segment Information [Abstract]
Net sales	4,193	3,998	10,615	11,703	15,360	15,674	14,775
Service [Member]
Segment Information [Abstract]
Net sales	809	824	2,247	2,404	3,248	3,240	3,039
United States Operations [Member]
Segment Information [Abstract]
Net sales	2,780	2,541	6,983	7,473	9,594	9,415	8,686
Long-lived assets					701	700	727
Europe [Member]
Segment Information [Abstract]
Net sales	1,307	1,313	3,455	3,906	5,327	5,711	5,323
Long-lived assets					439	451	480
Asia Pacific [Member]
Segment Information [Abstract]
Net sales	715	729	1,879	2,079	2,813	2,853	2,782
Long-lived assets					241	244	222
Other [Member]
Segment Information [Abstract]
Net sales	200	239	545	649	874	935	1,023
Long-lived assets					282	258	255
Operating Segments [Member]
Segment Information [Abstract]
Net sales	5,092	4,926	13,113	14,422	19,004	19,339	18,192
Operating profit	1,142	734	2,053	2,136	2,803	3,799	3,202
Segment assets					4,670	4,606	4,345
Capital expenditures					230	234	234
Depreciation and amortization					317	341	358
Operating Segments [Member] \| HVAC [Member]
Segment Information [Abstract]
Net sales	2,892	2,602	7,142	7,505	9,712	9,713	9,045
Operating profit	839	404	1,364	1,242	1,563	1,720	2,001
Segment assets					1,953	1,844	1,630
Capital expenditures					150	149	148
Depreciation and amortization					160	164	173
Operating Segments [Member] \| HVAC [Member] \| Product [Member]
Segment Information [Abstract]
Net sales	2,547	2,224	6,180	6,455	8,279	8,395	7,902
Operating Segments [Member] \| HVAC [Member] \| Service [Member]
Segment Information [Abstract]
Net sales	345	378	962	1,050	1,433	1,318	1,143
Operating Segments [Member] \| Refrigeration [Member]
Segment Information [Abstract]
Net sales	876	922	2,384	2,839	3,792	4,095	3,823
Operating profit	103	125	263	373	532	1,353	562
Segment assets					989	998	1,017
Capital expenditures					30	40	36
Depreciation and amortization					34	36	33
Operating Segments [Member] \| Refrigeration [Member] \| Product [Member]
Segment Information [Abstract]
Net sales	771	823	2,093	2,551	3,405	3,665	3,427
Operating Segments [Member] \| Refrigeration [Member] \| Service [Member]
Segment Information [Abstract]
Net sales	105	99	291	288	387	430	396
Operating Segments [Member] \| Fire & Security [Member]
Segment Information [Abstract]
Net sales	1,324	1,402	3,587	4,078	5,500	5,531	5,324
Operating profit	200	205	426	521	708	726	639
Segment assets					1,728	1,764	1,698
Capital expenditures					50	45	50
Depreciation and amortization					123	141	152
Operating Segments [Member] \| Fire & Security [Member] \| Product [Member]
Segment Information [Abstract]
Net sales	965	1,055	2,587	3,011	4,072	4,039	3,824
Operating Segments [Member] \| Fire & Security [Member] \| Service [Member]
Segment Information [Abstract]
Net sales	359	347	1,000	1,067	1,428	1,492	1,500
Eliminations and Other [Member]
Segment Information [Abstract]
Net sales	(90)	(104)	(251)	(315)	(396)	(425)	(378)
Operating profit	(31)	(63)	(122)	(95)	(156)	(24)	(32)
Segment assets					10	(4)	(10)
Capital expenditures					13	29	92
Depreciation and amortization					18	16	14
General Corporate Expenses [Member]
Segment Information [Abstract]
Net sales	0	0	0	0	0	0	0
Operating profit	$ (30)	$ (42)	$ (93)	$ (107)	$ (156)	$ (138)	$ (140)

SUBSEQUENT EVENTS (FY) (Details) - USD ($)	Feb. 27, 2020	Feb. 10, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Instruments [Abstract]
Long-term debt, gross			$ 12,059,000,000	$ 319,000,000
Term Loan [Member]
Debt Instruments [Abstract]
Revolving credit facility, maximum borrowing capacity		$ 1,750,000,000
Long-term debt, gross			$ 1,750,000,000	0
Interest rate			1.275%
Unsecured Debt [Member] \| 1.923% Notes due February 15, 2023 [Member]
Debt Instruments [Abstract]
Long-term debt, gross			$ 500,000,000	0
Interest rate			1.923%
Unsecured Debt [Member] \| 2.242% Notes due February 15, 2025 [Member]
Debt Instruments [Abstract]
Long-term debt, gross			$ 2,000,000,000	0
Interest rate			2.242%
Unsecured Debt [Member] \| 2.493% Notes due February 15, 2027 [Member]
Debt Instruments [Abstract]
Long-term debt, gross			$ 1,250,000,000	0
Interest rate			2.493%
Unsecured Debt [Member] \| 2.722% Notes due February 15, 2030 [Member]
Debt Instruments [Abstract]
Long-term debt, gross			$ 2,000,000,000	0
Interest rate			2.722%
Unsecured Debt [Member] \| 3.377% Notes due April 05, 2040 [Member]
Debt Instruments [Abstract]
Long-term debt, gross			$ 1,500,000,000	0
Interest rate			3.377%
Unsecured Debt [Member] \| 3.577% Notes due April 05, 2050 [Member]
Debt Instruments [Abstract]
Long-term debt, gross			$ 2,000,000,000	$ 0
Interest rate			3.577%
Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instruments [Abstract]
Revolving credit facility, maximum borrowing capacity		2,000,000,000	$ 0
Subsequent Event [Member] \| Term Loan [Member]
Debt Instruments [Abstract]
Revolving credit facility, maximum borrowing capacity		$ 1,750,000,000
Debt instrument, credit facility term		3 years
Subsequent Event [Member] \| Unsecured Debt [Member]
Debt Instruments [Abstract]
Long-term debt, gross	$ 9,250,000,000
Subsequent Event [Member] \| Unsecured Debt [Member] \| 1.923% Notes due February 15, 2023 [Member]
Debt Instruments [Abstract]
Long-term debt, gross	$ 500,000,000
Interest rate	1.923%
Maturity date	Feb. 15, 2023
Subsequent Event [Member] \| Unsecured Debt [Member] \| 2.242% Notes due February 15, 2025 [Member]
Debt Instruments [Abstract]
Long-term debt, gross	$ 2,000,000,000
Interest rate	2.242%
Maturity date	Feb. 15, 2025
Subsequent Event [Member] \| Unsecured Debt [Member] \| 2.493% Notes due February 15, 2027 [Member]
Debt Instruments [Abstract]
Long-term debt, gross	$ 1,250,000,000
Interest rate	2.493%
Maturity date	Feb. 15, 2027
Subsequent Event [Member] \| Unsecured Debt [Member] \| 2.722% Notes due February 15, 2030 [Member]
Debt Instruments [Abstract]
Long-term debt, gross	$ 2,000,000,000
Interest rate	2.722%
Maturity date	Feb. 15, 2030
Subsequent Event [Member] \| Unsecured Debt [Member] \| 3.377% Notes due April 05, 2040 [Member]
Debt Instruments [Abstract]
Long-term debt, gross	$ 1,500,000,000
Interest rate	3.377%
Maturity date	Apr. 05, 2040
Subsequent Event [Member] \| Unsecured Debt [Member] \| 3.577% Notes due April 05, 2050 [Member]
Debt Instruments [Abstract]
Long-term debt, gross	$ 2,000,000,000
Interest rate	3.577%
Maturity date	Apr. 05, 2050
Subsequent Event [Member] \| Revolving Credit Facility [Member] \| Line of Credit [Member]
Debt Instruments [Abstract]
Revolving credit facility, maximum borrowing capacity		$ 2,000,000,000
Debt instrument, credit facility term		5 years

DESCRIPTION OF BUSINESS (Q3) (Details) $ in Millions		1 Months Ended	9 Months Ended		12 Months Ended
DESCRIPTION OF BUSINESS (Q3) (Details) $ in Millions	Apr. 02, 2020 USD ($)	Mar. 27, 2020 USD ($)	Sep. 30, 2020 USD ($) Segment shares	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) Segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Apr. 03, 2020 shares	Feb. 27, 2020 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of reportable segments \| Segment			3		3
Common stock, shares, issued (in shares) \| shares			866,687,269					866,158,910
Aggregate principal balance									$ 11,000
Net transfers to parent		$ 10,900	$ 10,359	$ 1,111	$ 1,954	$ 2,685	$ 1,850
UTC Net Investment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net cash contribution from parent	$ 590

EARNINGS PER SHARE - Narrative (Q3) (Details) - $ / shares	3 Months Ended	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Apr. 03, 2020
EARNINGS PER SHARE [Abstract]
Common stock, shares, issued (in shares)	866,687,269	866,687,269	866,158,910
Common stock, par or stated value per share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	3,200,000	3,200,000

EARNINGS PER SHARE (Q3) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
EARNINGS PER SHARE [Abstract]
Net income attributable to common shareowners	$ 741	$ 492	$ 1,098	$ 1,676	$ 2,116	$ 2,734	$ 1,227
Basic weighted-average number of shares outstanding	866.4	866.2	866.3	866.2
Stock awards and equity units (share equivalent)	15.1	0.0	9.9	0.0
Diluted weighted-average number of shares outstanding	881.5	866.2	876.2	866.2
Earnings Per Share
Basic (in dollars per share)	$ 0.86	$ 0.57	$ 1.27	$ 1.94
Diluted (in dollars per share)	$ 0.84	$ 0.57	$ 1.25	$ 1.94

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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-Paragraph 11
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
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-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 250
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-03(25))
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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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.

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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.

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+ Details

REVENUE RECOGNITION - Contract Assets and Liabilities (Q3) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
REVENUE RECOGNITION [Abstract]
Contract assets, current	$ 753	$ 622	$ 566
Contract assets, non-current (included within Other assets)	75	57	100
Total contract assets	828	679	666
Contract liabilities, current	(495)	(443)	(448)
Contract liabilities, non-current (included within Other long-term liabilities)	(166)	(168)	(164)
Total contract liabilities	(661)	(611)	(612)
Net contract assets	$ 167	$ 68	$ 54

REVENUE RECOGNITION - Narrative (Q3) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
REVENUE RECOGNITION [Abstract]
Contract with customer, asset, change			$ 149		$ 13	$ 143
Contract with customer, liability, change			(50)		1	$ (4)
Contract with customer, liability, revenue recognized	$ 55	$ 53	$ 288	$ 301	$ 362

REVENUE RECOGNITION - Remaining Performance Obligations (Q3) (Details) - USD ($) $ in Billions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5.6	$ 4.7	$ 5.3
Revenue, remaining performance obligation, percentage		64.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	73.00%
Revenue, remaining performance obligation, period	12 months

RELATED PARTIES - Narrative (Q3) (Details) $ / shares in Units, shares in Thousands		1 Months Ended	3 Months Ended						9 Months Ended		12 Months Ended
	Apr. 02, 2020 USD ($)	Sep. 30, 2020 USD ($) $ / shares shares	Sep. 30, 2020 USD ($) $ / shares	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Sep. 30, 2020 USD ($) $ / shares	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2020 kr / shares
Related Party Transaction [Line Items]
Impairment charge on minority-owned joint venture investments						$ 108,000,000			$ 72,000,000	$ 108,000,000	$ 108,000,000	$ 0	$ 0
Separation costs			$ 13,000,000						13,000,000
Net transfers (to) from UTC				$ 859,000,000	$ (11,014,000,000)	(544,000,000)	$ (445,000,000)	$ (81,000,000)			1,902,000,000	2,641,000,000	1,816,000,000
UTC Net Investment
Related Party Transaction [Line Items]
Net transfers (to) from UTC				$ 859,000,000	(11,014,000,000)	(544,000,000)	$ (445,000,000)	$ (81,000,000)	780,000,000		1,902,000,000	2,641,000,000	1,816,000,000
Net cash contribution from parent	$ 590,000,000
Spinoff
Related Party Transaction [Line Items]
Separation costs			24,000,000						92,000,000
Equity Method Investee
Related Party Transaction [Line Items]
Revenue from related parties			576,000,000			498,000,000			1,400,000,000	1,400,000,000	1,800,000,000	1,900,000,000	1,900,000,000
Related parties amount in cost of sales			70,000,000			96,000,000			213,000,000	274,000,000	368,000,000	355,000,000	378,000,000
Accounts receivable, related parties		$ 213,000,000	213,000,000						213,000,000		137,000,000	101,000,000
Accounts payable, related parties		40,000,000	$ 40,000,000						$ 40,000,000		55,000,000	74,000,000
Impairment charge on minority-owned joint venture investments					$ 71,000,000
Equity Method Investee \| Beijer Ref
Related Party Transaction [Line Items]
Sale of stock, consideration received on transaction		$ 300,000,000
Subsidiary or equity method investee, cumulative percentage ownership after all transactions		26.00%
Gain (Loss) on Sale of Investments		$ 252,000,000
Equity Method Investee \| B Shares \| Beijer Ref
Related Party Transaction [Line Items]
Sale of stock, number of shares issued in transaction (in shares) \| shares		9,250
Sale of stock, price per share (in kronor per share) \| (per share)		$ 32.38	$ 32.38						$ 32.38					kr 290
Subsidiary or equity method investee, percentage of outstanding stock		7.90%
Subsidiary or equity method investee, cumulative percentage ownership after all transactions		30.00%
Equity Method Investee \| A Shares \| Beijer Ref
Related Party Transaction [Line Items]
Subsidiary or equity method investee, cumulative percentage ownership after all transactions		22.00%
UTC
Related Party Transaction [Line Items]
Revenue from related parties			$ 0			6,000,000			$ 3,000,000	18,000,000	23,000,000	25,000,000	29,000,000
Accounts receivable, related parties											16,000,000,000	15,100,000,000
Accounts payable, related parties											3,300,000,000	2,600,000,000	146,000,000
Related party transaction, selling, general and administrative expenses from transactions with related party			0			62,000,000			43,000,000	178,000,000	245,000,000	277,000,000	240,000,000
Interest income, related party			0			21,000,000			0	70,000,000	91,000,000	110,000,000	85,000,000
Interest expense, related party			0			$ 12,000,000			0	$ 44,000,000	55,000,000	59,000,000	$ 202,000,000
Accounts receivable, related parties, current		$ 0	0						0		6,000,000	12,000,000
Accounts payable, related parties, current		$ 0	$ 0						$ 0		$ 4,000,000	$ 8,000,000

ACCOUNTS RECEIVABLE, NET (Q3) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 2,960	$ 2,771	$ 2,814
Less: Allowance for expected credit losses	(88)	(45)	(141)
Accounts receivable, net	2,872	2,726	2,673
Trade receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	2,578	2,444	2,549
Less: Allowance for expected credit losses		(61)
Receivables from affiliates
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	213	143	113
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 169	$ 184	$ 152

ACCOUNTS RECEIVABLE, NET - Accounts Receivable Rollforward (Q3) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 45	$ 141
Provision for expected credit losses	38	18	$ 20	$ 12
Write-offs charged against the allowance for expected credit losses	(2)
Accounts Receivable, Allowance For Credit Loss, Other	7
Ending balance	$ 88	$ 45	$ 141

INVENTORIES, NET (Q3) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
INVENTORIES, NET [Abstract]
Raw materials	$ 248	$ 290	$ 336
Work-in-process	148	120	102
Finished goods	1,185	922	925
Inventories, net	1,581	1,332	1,363
Inventory valuation reserves	$ 180	$ 152	$ 142

FIXED ASSETS, NET (Q3) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
FIXED ASSETS, NET (Q3) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 3,879		$ 3,879		$ 3,758	$ 3,544
Accumulated depreciation	(2,203)		(2,203)		(2,095)	(1,891)
Fixed assets, net	1,676		1,676		1,663	1,653	$ 1,684
Depreciation	56	$ 54	165	$ 163	219	221	$ 226
Land
Property, Plant and Equipment [Line Items]
Fixed assets, gross	112		$ 112		$ 113	114
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			40 years		40 years
Fixed assets, gross	1,129		$ 1,129		$ 1,138	1,142
Machinery, tools and equipment
Property, Plant and Equipment [Line Items]
Fixed assets, gross	2,047		2,047		1,924	1,815
Rental assets
Property, Plant and Equipment [Line Items]
Fixed assets, gross	404		404		395	293
Other, including assets under construction
Property, Plant and Equipment [Line Items]
Fixed assets, gross	$ 187		$ 187		$ 188	$ 180
Minimum \| Machinery, tools and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			3 years		3 years
Minimum \| Rental assets
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			3 years		3 years
Maximum \| Machinery, tools and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			25 years		25 years
Maximum \| Rental assets
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life			12 years		12 years

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Goodwill (Q3) (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill - Beginning Balance	$ 9,884	$ 9,849	$ 10,065
Foreign currency translation	22	35	(411)
Goodwill - Ending Balance	9,906	9,884	9,849
HVAC
Goodwill [Roll Forward]
Goodwill - Beginning Balance	5,351	5,330	5,472
Foreign currency translation	2	21	(142)
Goodwill - Ending Balance	5,353	5,351	5,330
Refrigeration
Goodwill [Roll Forward]
Goodwill - Beginning Balance	1,228	1,231	1,417
Foreign currency translation	5	(3)	(187)
Goodwill - Ending Balance	1,233	1,228	1,231
Fire & Security
Goodwill [Roll Forward]
Goodwill - Beginning Balance	3,305	3,288	3,176
Foreign currency translation	15	17	(82)
Goodwill - Ending Balance	$ 3,320	$ 3,305	$ 3,288

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Finite and Indefinite-lived Intangible Assets (Q3) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 2,502	$ 2,462	$ 2,498
Accumulated Amortization	(2,019)	(1,913)	(1,823)
Indefinite-lived Intangible Assets [Line Items]
Total intangible assets, gross (excluding goodwill)	3,043	2,996	3,037
Trademarks and other
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	541	534	539
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1,506	1,479	1,511
Accumulated Amortization	(1,223)	(1,154)	(1,098)
Patents and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Amount	293	287	292
Accumulated Amortization	(213)	(201)	(189)
Monitoring lines
Finite-Lived Intangible Assets [Line Items]
Gross Amount	67	67	64
Accumulated Amortization	(55)	(52)	(46)
Service portfolios and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	636	629	631
Accumulated Amortization	$ (528)	$ (506)	$ (490)

BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS - Future Amortization of Intangible Assets (Q3) (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) Segment	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Goodwill [Line Items]
Amortization of intangible assets	$ 26	$ 30	$ 76	$ 88	$ 116	$ 136	$ 146
Goodwill	9,906		$ 9,906		$ 9,884	$ 9,849	$ 10,065
Reporting Unit with Carrying Value within 20% of Fair Value
Goodwill [Line Items]
Number of reporting units \| Segment			1
Goodwill	$ 917		$ 917
Reporting unit, percentage of fair value in excess of carrying amount	13.00%		13.00%
Sensitivity analysis of fair value, reporting unit, impact of 100 basis point change in discount rate	$ 84		$ 84

BORROWINGS AND LINES OF CREDIT - Narrative (Q3) (Details)			1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 27, 2020 USD ($)	Feb. 10, 2020 USD ($)	Mar. 27, 2020 USD ($)	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jun. 19, 2020 USD ($)	Jun. 02, 2020 USD ($)	Feb. 27, 2020 USD ($) debtseries
Debt Instrument [Line Items]
Aggregate principal balance													$ 11,000,000,000
Issuance of long-term debt						$ 11,762,000,000	$ 106,000,000	$ 107,000,000	$ 117,000,000	$ 99,000,000
Net transfers to parent			$ 10,900,000,000			10,359,000,000	1,111,000,000	1,954,000,000	2,685,000,000	1,850,000,000
Debt instrument, covenant, modification period threshold for provision of terms												$ 100,000,000
Repayment of long-term debt						$ 124,000,000	98,000,000	$ 138,000,000	$ 0	$ 103,000,000
Weighted average interest rate				2.70%		2.70%
Interest expense, debt				$ 90,000,000		$ 213,000,000
Amortization of debt issuance costs				$ 2,000,000		5,000,000
Interest expense, debt, financing fees expensed					$ 5,000,000
Interest expense, debt, excluding amortization						$ 127,000,000
Weighted Average
Debt Instrument [Line Items]
Average maturity of long-term debt				12 years		12 years
Term Loan
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 1,750,000,000
Issuance of long-term debt	$ 1,750,000,000
Interest rate, stated percentage				1.275%		1.275%
Unsecured Debt
Debt Instrument [Line Items]
Aggregate principal balance													$ 9,250,000,000
Series of notes issuance \| debtseries													6
Unsecured Debt \| 2.700% Notes due February 15, 2031
Debt Instrument [Line Items]
Aggregate principal balance											$ 750,000,000
Interest rate, stated percentage				2.70%		2.70%
Other Debt \| Project Financing Arrangements
Debt Instrument [Line Items]
Aggregate principal balance				$ 102,000,000		$ 102,000,000	$ 106,000,000
Commercial Paper
Debt Instrument [Line Items]
Aggregate principal balance				2,000,000,000.0		2,000,000,000.0
Short-term debt				0		$ 0
London Interbank Offered Rate (LIBOR) \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate						1.125%
Revolving Credit Facility \| Line of Credit
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 2,000,000,000		$ 0		$ 0
Commitment fee percentage		0.125%
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR) \| Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate						1.25%

BORROWINGS AND LINES OF CREDIT - Long-term Debt (Q3) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, gross	$ 12,059	$ 319
Other (discounts and debt issuance costs)	(85)	0
Total debt	11,974	319
Current portion of long-term debt	223	237
Long-term debt	$ 11,751	82
Term Loan
Debt Instrument [Line Items]
Interest Rate	1.275%
Long-term debt, gross	$ 1,750	0
Other Debt
Debt Instrument [Line Items]
Long-term debt, gross	$ 309	319
London Interbank Offered Rate (LIBOR) \| Term Loan
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
1.923% Notes due February 15, 2023 \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	1.923%
Long-term debt, gross	$ 500	0
2.242% Notes due February 15, 2025 \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.242%
Long-term debt, gross	$ 2,000	0
2.493% Notes due February 15, 2027 \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.493%
Long-term debt, gross	$ 1,250	0
2.722% Notes due February 15, 2030 \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.722%
Long-term debt, gross	$ 2,000	0
2.700% Notes due February 15, 2031 \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	2.70%
Long-term debt, gross	$ 750	0
3.377% Notes due April 5, 2040 \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	3.377%
Long-term debt, gross	$ 1,500	0
3.577% Notes due April 5, 2050 \| Unsecured Debt
Debt Instrument [Line Items]
Interest Rate	3.577%
Long-term debt, gross	$ 2,000	$ 0

BORROWINGS AND LINES OF CREDIT - Long-term Debt Maturity (Q3) (Details) $ in Millions	Sep. 30, 2020 USD ($)
BORROWINGS AND LINES OF CREDIT [Abstract]
2020	$ 223
2021	45
2022	40
2023	2,251
2024	0
Thereafter	$ 9,500

EMPLOYEE BENEFIT PLANS (Q3) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
EMPLOYEE BENEFIT PLANS [Abstract]
Defined benefit plans	$ 1	$ 2	$ 29	$ 29
Defined contribution plans	23	22	78	71	$ 88	$ 94	$ 86
Multi-employer pension plans	$ 5	$ 5	$ 15	$ 15

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

+ References + Details

EMPLOYEE BENEFIT PLANS - Pension Plan (Q3) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
EMPLOYEE BENEFIT PLANS [Abstract]
Service cost	$ 7	$ 7	$ 22	$ 23
Interest cost	13	17	39	50
Expected return on plan assets	(35)	(37)	(104)	(115)
Amortization of prior service credit	1	0	2	1
Recognized actuarial net loss	5	2	15	7
Net settlement, curtailment and special termination benefit loss	0	0	1	1
Net periodic pension benefit - employer	$ (9)	$ (11)	$ (25)	$ (33)

EMPLOYEE BENEFIT PLANS - Pension and Retirements Expenses (Q3) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Multiemployer Plans [Line Items]
Service cost	$ 7	$ 7	$ 22	$ 23
Non-service pension benefit	(16)	(47)	(47)	(124)	$ 154	$ 168	$ 139
Net periodic pension benefit - employer	(9)	(11)	(25)	(33)
UTC Sponsored Defined Benefit Plans
Multiemployer Plans [Line Items]
Service cost	0	4	0	13	18	22	23
Non-service pension benefit	0	(20)	(2)	(59)	(81)	(80)	(57)
Net periodic pension benefit - employer	$ 0	$ (16)	$ (2)	$ (46)	$ (63)	$ (58)	$ (34)

STOCK-BASED COMPENSATION - Narrative (Q3) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period (in years)			10 years		10 years
Award vesting period (in years)			3 years		3 years
Share-based payment arrangement, expense	$ 21	$ 18	$ 56	$ 40	$ 52	$ 44	$ 34
Share-based payment arrangement, cash used to settle award	5	$ 2	2	$ 2
Unrecognized compensation costs	$ 107		107		$ 62
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred share-based compensation expense			$ 14
Cost not yet recognized, period for recognition			1 year 6 months
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost not yet recognized, period for recognition			2 years 2 months 12 days		2 years 6 months
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based awards granted (in dollars per shares)			$ 4.36
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period (in years)			3 years		3 years

STOCK-BASED COMPENSATION - LTIP Activity (Q3) (Details) - $ / shares
shares in Thousands

6 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Shares

Exercised (in shares)

(984)

Weighted Average Exercise Price

Exercised (in dollars per share)

$ 15.52

Stock Options and Stock Appreciation Rights

Shares

Beginning balance (in shares)

36,015

Granted (in shares)

3,753

Forfeitures/Cancelled (in shares)

(509)

Ending balance (in shares)

38,275

Weighted Average Exercise Price

Beginning balance (in dollars per share)

$ 19.90

Granted (in dollars per share)

16.62

Forfeited/Cancelled (in dollars per share)

22.73

Ending balance (in dollars per share)

$ 19.66

Performance Share Units

Weighted Average Exercise Price

Beginning balance (in dollars per share)

^[1]

$ 110.59

Granted (in dollars per share)

^[1]

121.79

Exercised (in dollars per share)

^[1]

95.54

Forfeited/Cancelled (in dollars per share)

^[1]

112.39

Ending balance (in dollars per share)

^[1]

$ 120.16

$ 110.59

Units

Beginning balance (in shares)

289

Granted (in shares)

728

142

Exercised (in shares)

Forfeited (in shares)

(22)

(25)

Ending balance (in shares)

774

362

289

Weighted Average Grant Date Fair Value

Beginning balance (in dollars per share)

$ 21.23

Granted (in dollars per share)

18.23

$ 112.76

$ 131.42

$ 111.00

Exercised (in dollars per share)

Forfeited (in dollars per share)

19.25

Ending balance (in dollars per share)

$ 18.48

Restricted Share Units

Units

Beginning balance (in shares)

5,622

Granted (in shares)

443

Exercised (in shares)

(116)

Forfeited (in shares)

(108)

Ending balance (in shares)

5,841

Weighted Average Grant Date Fair Value

Beginning balance (in dollars per share)

$ 21.37

Granted (in dollars per share)

18.98

Exercised (in dollars per share)

20.42

Forfeited (in dollars per share)

22.25

Ending balance (in dollars per share)

$ 21.27

[1]	Weighted-average grant/exercise price

STOCK-BASED COMPENSATION - LTIP Awards Vested and Expected to Vest and Exercisable (Q3) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

9 Months Ended

12 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Stock Options and Stock Appreciation Rights

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options vest and expected to vest (in shares)

36,868

6,083

Options vested and expected to vest (in dollars per share)

$ 19.61

$ 109.31

^[1]

Options vested and expected to vest, aggregate intrinsic value

$ 403,105

$ 246,000

Options vested and expected to vest, weighted average remaining contractual term

6 years 8 months 12 days

6 years 1 month 6 days

^[2]

Options exercisable (in shares)

16,173

3,333

Options exercisable (in dollars per share)

$ 16.97

$ 98.4

^[1]

Options exercisable, aggregate intrinsic value

$ 219,447

$ 171,000

Options exercisable, weighted average remaining contractual term

4 years 2 months 12 days

4 years 3 months 18 days

^[2]

Performance Share Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance shares vested and expected to vest (in shares)

6,291

1,006

Performance shares vested and expected to vest (in dollars per share)

$ 20.96

$ 0

^[1]

Performance shares vested and expected to vest, aggregate intrinsic value

$ 192,116

$ 151,000

Performance shares vested and expected to vest, weighted average remaining contractual term

1 year 9 months 18 days

1 year 8 months 12 days

^[2]

[1]	Weighted-average exercise price per share
[2]	Weighted-average contractual remaining term in years

STOCK-BASED COMPENSATION - Fair Value Assumptions (Q3) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility				19.00%
Expected life (in years)		20.00%	18.00%	19.00%
Expected dividend yield		2.40%	2.20%	2.40%
Stock Option \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility		18.80%	17.50%
Range of risk-free rate		2.30%	1.30%	0.50%
Stock Option \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility		19.70%	21.10%
Range of risk-free rate		2.70%	2.70%	2.50%
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	35.60%
Expected life (in years)	700.00%
Expected dividend yield	2.00%
Stock Appreciation Rights (SARs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of risk-free rate	0.10%
Stock Appreciation Rights (SARs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of risk-free rate	1.00%

ACCUMULATED OTHER COMPREHENSIVE LOSS - Summary of Changes in AOCI (Q3) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	$ 4,366	$ 14,960	$ 14,435	$ 14,269	$ 14,269	$ 14,784	$ 14,960
Other comprehensive income (loss) before reclassifications, net					(57)	(650)	686
Amounts reclassified, pre-tax					13	19	(387)
Tax expense (benefit) reclassified					15	33	168
Balance	5,437	14,644	5,437	14,644	14,435	14,269	14,784
Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance			(4)	0	0
Balance					(4)	0
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(1,018)	(821)	(780)	(834)	(834)	(393)	(1,130)
Other comprehensive income (loss) before reclassifications, net	302	(274)	64	(261)	52	(441)	747
Amounts reclassified, pre-tax	0	0	0	0	2	0	(10)
Tax expense (benefit) reclassified	0		0		0	0	0
Balance	(716)	(1,095)	(716)	(1,095)	(780)	(834)	(393)
Foreign Currency Translation \| Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance		0		0
Defined Benefit Pension and Post-retirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(461)	(381)	(473)	(381)	(381)	(222)	(211)
Other comprehensive income (loss) before reclassifications, net	0	0	2	2	(109)	(209)	(32)
Amounts reclassified, pre-tax	6	2	18	9	11	17	16
Tax expense (benefit) reclassified	(1)		(3)		15	33	5
Balance	(456)	(379)	(456)	(379)	(473)	(381)	(222)
Defined Benefit Pension and Post-retirement Plans \| Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance		(9)		(9)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(1,479)	(1,202)	(1,253)	(1,215)	(1,215)	(617)	(1,084)
Other comprehensive income (loss) before reclassifications, net	302	(274)	66	(259)
Amounts reclassified, pre-tax	6	2	18	9
Tax expense (benefit) reclassified	(1)		(3)
Balance	$ (1,172)	(1,474)	$ (1,172)	(1,474)	(1,253)	(1,215)	$ (617)
Accumulated Other Comprehensive Loss \| Cumulative Effect, Period Of Adoption, Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance				(9)	$ (9)
Balance		$ (9)		$ (9)		$ (9)

- Definition

+ References

+ Details

INCOME TAXES - Narrative (Q3) (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
INCOME TAXES - Narrative (Q3) (Details) $ in Millions	Sep. 30, 2020 USD ($)	Sep. 30, 2019	Sep. 30, 2020 USD ($)	Sep. 30, 2019	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017	Apr. 03, 2020 USD ($) Installment
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective income tax rate reconciliation, percent	25.90%	25.80%	33.40%	18.30%	19.40%	27.90%	58.50%
Effective income tax rate reconciliation, tax settlement, amount	$ 149				$ (149)
Effective income tax rate reconciliation, change in deferred tax assets valuation allowance			$ 51
Effective income tax rate reconciliation, repatriation of foreign earnings, amount			46			$ 102
Accrued income taxes, current					$ 318	$ 325
Increase (decrease) in unrecognized tax benefits	(37)
Deferred tax assets, unrealized currency losses	27		27
United Technologies Corp
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Tax cuts and jobs act, transition tax for accumulated foreign earnings, liability, noncurrent								$ 701
Unrecognized tax benefits, number of annual installments \| Installment								6
Accrued Liabilities \| United Technologies Corp
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Tax cuts and jobs act, transition tax for accumulated foreign earnings, liability, current								$ 68
Accrued income taxes, current								6
Other Noncurrent Liabilities \| United Technologies Corp
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Accrued income taxes, noncurrent								$ 453
Maximum
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 15		$ 15

RESTRUCTURING COSTS - Schedules (Q3) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	$ 3			$ 34	$ 19	$ 97	$ 126	$ 80	$ 111
Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	(1)			14	5	27	36	36	48
Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	4			20	14	70	90	44	63
2020 Actions
Restructuring Reserve [Roll Forward]
Beginning balance	9		$ 0		0
Net pre-tax restructuring costs	5				18
Utilization, foreign exchange and other costs	(4)				(8)
Ending balance	10	$ 9			10		0
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	22				22
Costs Incurred	(5)	(11)	(2)
Remaining Costs	4				4
2020 Actions \| Severance
Restructuring Reserve [Roll Forward]
Beginning balance	8		0		0
Net pre-tax restructuring costs	5				17
Utilization, foreign exchange and other costs	(4)				(8)
Ending balance	9	8			9		0
2020 Actions \| Facility Exit, Lease Termination and Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance	1		0		0
Net pre-tax restructuring costs	0				1
Utilization, foreign exchange and other costs	0				0
Ending balance	1	1			1		0
2020 Actions \| Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					7
2020 Actions \| Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					11
2019 Actions
Restructuring Reserve [Roll Forward]
Beginning balance	27		44		44
Net pre-tax restructuring costs	0				3	82
Utilization, foreign exchange and other costs	(5)				(25)
Ending balance	22	27			22		44
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				120		120
Costs Incurred	0	0	(3)				(110)
Remaining Costs	7				7
2019 Actions \| Severance
Restructuring Reserve [Roll Forward]
Beginning balance	27		43		43
Net pre-tax restructuring costs	0				3
Utilization, foreign exchange and other costs	(5)				(24)
Ending balance	22	27			22		43
2019 Actions \| Facility Exit, Lease Termination and Other Costs
Restructuring Reserve [Roll Forward]
Beginning balance	0		1		1
Net pre-tax restructuring costs	0				0
Utilization, foreign exchange and other costs	0				(1)
Ending balance	0	0			0		1
2019 Actions \| Cost of sales
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					0	20
2019 Actions \| Selling, general and administrative
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs					3	62
Operating Segments \| HVAC
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	0			12	3	47	56	20	36
Operating Segments \| Refrigeration
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	(1)			7	2	14	14	23	13
Operating Segments \| Fire & Security
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	4			14	13	35	53	34	57
Operating Segments \| 2020 Actions \| HVAC
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	5				5
Costs Incurred	(1)	(2)	(1)
Remaining Costs	1				1
Operating Segments \| 2020 Actions \| Refrigeration
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	3				3
Costs Incurred	0	(3)	0
Remaining Costs	0				0
Operating Segments \| 2020 Actions \| Fire & Security
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	13				13
Costs Incurred	(4)	(5)	(1)
Remaining Costs	3				3
Operating Segments \| 2019 Actions \| HVAC
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				53		53
Costs Incurred	(1)	2	(1)				(51)
Remaining Costs	2				2
Operating Segments \| 2019 Actions \| Refrigeration
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				16		16
Costs Incurred	1	(1)	0				(14)
Remaining Costs	2				2
Operating Segments \| 2019 Actions \| Fire & Security
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				49		49
Costs Incurred	0	(1)	(2)				(43)
Remaining Costs	3				3
Eliminations and other
Restructuring Reserve [Roll Forward]
Net pre-tax restructuring costs	0			1	1	1	3	$ 3	$ 5
Eliminations and other \| 2020 Actions
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs	1				1
Costs Incurred	0	(1)	0
Remaining Costs	0				0
Eliminations and other \| 2019 Actions
Restructuring and Related Cost, Expected Cost [Abstract]
Expected Costs				$ 2		$ 2
Costs Incurred	0	$ 0	$ 0				$ (2)
Remaining Costs	$ 0				$ 0

RESTRUCTURING COSTS - Narrative (Q3) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	$ 3	$ 34	$ 19	$ 97	$ 126	$ 80	$ 111
2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	5		18
Restructuring reserve	10		10		0			$ 9
2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	0		3	82
Restructuring reserve	22		22		44			$ 27
2018 and Prior Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			(2)	16
Restructuring reserve	7	28	7	28
Cost of sales
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	(1)	14	5	27	36	36	48
Cost of sales \| 2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			7
Cost of sales \| 2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			0	20
Cost of sales \| 2018 and Prior Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			(1)	7
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs	$ 4	$ 20	14	70	$ 90	$ 44	$ 63
Selling, general and administrative \| 2020 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			11
Selling, general and administrative \| 2019 Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			3	62
Selling, general and administrative \| 2018 and Prior Actions
Restructuring Cost and Reserve [Line Items]
Net pre-tax restructuring costs			$ (1)	$ 9

GUARANTEES (Q3) (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
GUARANTEES (Q3) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Beginning balance	$ 488	$ 473	$ 473	$ 500
Warranties, performance guarantees issued and changes in estimated liability	131	133	182	171
Settlements made	(111)	(126)	(164)	(191)
Other	1	(2)	(3)	(7)
Ending balance	$ 509	$ 478	$ 488	$ 473

FAIR VALUE MEASUREMENTS - Fair Value and Carrying Amounts Measured on a Recurring Basis (Q3) (Details) - Fair Value, Recurring $ in Millions	Sep. 30, 2020 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	$ 15
Derivative liabilities	(33)
Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market mutual funds	38
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0
Derivative liabilities	0
Level 1 \| Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market mutual funds	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	15
Derivative liabilities	(33)
Level 2 \| Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market mutual funds	38
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative assets	0
Derivative liabilities	0
Level 3 \| Money market mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Money market mutual funds	$ 0

FAIR VALUES MEASUREMENTS - Carrying Amounts and Fair Values of Financial Instruments (Q3) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), carrying amount	$ 11,969	$ 313
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	12,531	313
Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	10,478	0
Fair Value \| Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	0	0
Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Current and long-term debt (excluding finance leases), fair value	$ 2,053	$ 313

FAIR VALUE MEASUREMENTS - Changes in Level 3 Liabilities (Q3) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value as of January 1	$ 313	$ 291
Issuances, including interest on project financing obligations	1,865	118
Settlements	(125)	(98)
Fair value as of September 30	$ 2,053	$ 311

COMMITMENTS AND CONTINGENT LIABILITIES (Q3) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Commitments [Line Items]
Accrual for environmental loss contingencies	$ 233	$ 217	$ 215
Accrued environmental loss contingencies, current	13	14	15
Accrued environmental loss contingencies, noncurrent	220	203	$ 200
Loss contingency, receivable	104	104
Other Noncurrent Liabilities
Other Commitments [Line Items]
Tax cuts and jobs act, transition tax for accumulated foreign earnings, liability	72
Minimum \| Asbestos Matters
Other Commitments [Line Items]
Loss contingency accrual	250	255
Maximum \| Asbestos Matters
Other Commitments [Line Items]
Loss contingency accrual	$ 290	$ 290

SEGMENT FINANCIAL DATA (Q3) (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
SEGMENT FINANCIAL DATA (Q3) (Details) $ in Millions	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) Segment	Sep. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) Segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment			3		3
Net Sales	$ 5,002	$ 4,822	$ 12,862	$ 14,107	$ 18,608	$ 18,914	$ 17,814
Operating profit	1,081	629	1,838	1,934	2,491	3,637	3,030
Product
Segment Reporting Information [Line Items]
Net Sales	4,193	3,998	10,615	11,703	15,360	15,674	14,775
Service
Segment Reporting Information [Line Items]
Net Sales	809	824	2,247	2,404	3,248	3,240	3,039
United States Operations
Segment Reporting Information [Line Items]
Net Sales	2,780	2,541	6,983	7,473	9,594	9,415	8,686
Europe
Segment Reporting Information [Line Items]
Net Sales	1,307	1,313	3,455	3,906	5,327	5,711	5,323
Asia Pacific
Segment Reporting Information [Line Items]
Net Sales	715	729	1,879	2,079	2,813	2,853	2,782
Other
Segment Reporting Information [Line Items]
Net Sales	200	239	545	649	874	935	1,023
Operating Segments
Segment Reporting Information [Line Items]
Net Sales	5,092	4,926	13,113	14,422	19,004	19,339	18,192
Operating profit	1,142	734	2,053	2,136	2,803	3,799	3,202
Operating Segments \| HVAC
Segment Reporting Information [Line Items]
Net Sales	2,892	2,602	7,142	7,505	9,712	9,713	9,045
Operating profit	839	404	1,364	1,242	1,563	1,720	2,001
Operating Segments \| HVAC \| Product
Segment Reporting Information [Line Items]
Net Sales	2,547	2,224	6,180	6,455	8,279	8,395	7,902
Operating Segments \| HVAC \| Service
Segment Reporting Information [Line Items]
Net Sales	345	378	962	1,050	1,433	1,318	1,143
Operating Segments \| Refrigeration
Segment Reporting Information [Line Items]
Net Sales	876	922	2,384	2,839	3,792	4,095	3,823
Operating profit	103	125	263	373	532	1,353	562
Operating Segments \| Refrigeration \| Product
Segment Reporting Information [Line Items]
Net Sales	771	823	2,093	2,551	3,405	3,665	3,427
Operating Segments \| Refrigeration \| Service
Segment Reporting Information [Line Items]
Net Sales	105	99	291	288	387	430	396
Operating Segments \| Fire & Security
Segment Reporting Information [Line Items]
Net Sales	1,324	1,402	3,587	4,078	5,500	5,531	5,324
Operating profit	200	205	426	521	708	726	639
Operating Segments \| Fire & Security \| Product
Segment Reporting Information [Line Items]
Net Sales	965	1,055	2,587	3,011	4,072	4,039	3,824
Operating Segments \| Fire & Security \| Service
Segment Reporting Information [Line Items]
Net Sales	359	347	1,000	1,067	1,428	1,492	1,500
Eliminations and other
Segment Reporting Information [Line Items]
Net Sales	(90)	(104)	(251)	(315)	(396)	(425)	(378)
Operating profit	(31)	(63)	(122)	(95)	(156)	(24)	(32)
General corporate expenses
Segment Reporting Information [Line Items]
Net Sales	0	0	0	0	0	0	0
Operating profit	$ (30)	$ (42)	$ (93)	$ (107)	$ (156)	$ (138)	$ (140)