← CARRIER GLOBAL Corp

Annual Trend FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Equity method investment net earnings ($220.0m) ($236.0m) ($207.0m) ($249.0m) ($262.0m) ($211.0m) ($231.0m) ($229.0m)
Net earnings (loss) $2.8b $2.2b $2.0b $1.7b $3.6b $1.4b $5.7b $1.6b
Net Income (Loss) Attributable to Parent — — — — — — $5.6b $1.5b
Net Income (Loss) Available to Common Stockholders, Basic — $2.1b $2.0b $1.7b $3.5b $1.3b — —
Discontinued operations, net of tax — — — — ($377.0m) $38.0m ($4.5b) ($29.0m)
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — — — — — — $1.2b $1.6b
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — — — — — — $4.5b $29.0m
Net Income (Loss) Attributable to Noncontrolling Interest — $39.0m $24.0m $37.0m $50.0m $91.0m $104.0m $103.0m
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest — $2.2b $2.0b $1.7b $3.6b $1.4b $5.7b $1.6b
Amortization of Debt Issuance Costs — — $9.0m $10.0m — — — —
Amortization of Intangible Assets — $116.0m $102.0m $98.0m $124.0m $242.0m $843.0m $884.0m
Depreciation $357.0m $219.0m $234.0m $238.0m $256.0m $300.0m $385.0m $383.0m
Depreciation and amortization $357.0m $335.0m $336.0m $338.0m $380.0m $542.0m $1.2b $1.3b
Depreciation, Depletion and Amortization $357.0m $335.0m $336.0m $338.0m $380.0m $542.0m $1.2b $1.3b
Depreciation, Amortization and Accretion, Net $357.0m $335.0m $336.0m $338.0m $380.0m $542.0m $1.2b $1.3b
Deferred Income Tax Expense (Benefit) — ($122.0m) $97.0m ($74.0m) ($124.0m) ($233.0m) ($352.0m) ($401.0m)
Deferred income tax provision $133.0m ($122.0m) $97.0m ($74.0m) ($124.0m) ($233.0m) ($352.0m) ($401.0m)
Equity Method Investment, Other than Temporary Impairment — $108.0m $72.0m $2.0m $0 $0 — —
Goodwill and Intangible Asset Impairment — — — $0 — — — —
Share-based Payment Arrangement, Expense — $58.0m $88.0m $111.0m $62.0m $84.0m $100.0m $72.0m
Share-based Payment Arrangement, Noncash Expense — $52.0m $77.0m $92.0m $77.0m $81.0m $98.0m $74.0m
(Gain) loss on extinguishment of debt — — $0 $0 ($36.0m) $0 ($82.0m) $0
Distributions from equity method investments $143.0m $158.0m $169.0m $159.0m $148.0m $129.0m $46.0m $201.0m
Equity Method Investment, Realized Gain (Loss) on Disposal — $0 $1.1b ($2.0m) $1.8b ($278.0m) $322.0m $6.0m
Gain (Loss) on Extinguishment of Debt — — $0 $0 $36.0m $0 $82.0m $0
Income (Loss) from Equity Method Investments — $236.0m $207.0m $249.0m $262.0m $211.0m $231.0m $229.0m
Income Tax Expense (Benefit) — $517.0m $849.0m $699.0m $708.0m $644.0m $1.1b $240.0m
Operating Lease, Expense — $206.0m $197.0m $200.0m $148.0m $158.0m $175.0m $184.0m
Changes in operating assets and liabilities:
Additional Financial Items
(Decrease) increase in short-term borrowings, net $3.0m $25.0m ($23.0m) $13.0m ($140.0m) ($15.0m) $50.0m $275.0m
Accounts payable and accrued liabilities $88.0m ($296.0m) $237.0m $829.0m $61.0m $477.0m $87.0m ($219.0m)
Accounts receivable, net ($211.0m) ($129.0m) $49.0m ($97.0m) ($145.0m) ($148.0m) ($40.0m) ($98.0m)
Deconsolidation, Gain (Loss), Amount — — — — — ($297.0m) $318.0m $7.0m
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal — — — — — $0 $0 —
Dispositions of businesses — — $0 $0 $2.9b $54.0m $634.0m $27.0m
Goodwill — $9.9b $10.1b $9.3b $10.0b $8.0b $14.6b $15.5b
Increase (Decrease) in Inventories — $2.0m $240.0m $408.0m $334.0m ($237.0m) ($292.0m) $81.0m
Inventories, net ($151.0m) ($2.0m) ($240.0m) ($408.0m) ($334.0m) $237.0m $292.0m ($81.0m)
Less: Change in cash balances classified as assets held for sale — $0 $0 $60.0m $0 $157.0m ($320.0m) $25.0m
Other operating activities, net ($3.0m) $9.0m $220.0m ($4.0m) $143.0m ($2.0m) ($357.0m) $42.0m
Restructuring Costs — — — — — — — $178.0m
Settlement of derivative contracts, net — $0 $40.0m $4.0m ($194.0m) ($50.0m) ($264.0m) $105.0m
Stock-based compensation cost — $52.0m $77.0m $92.0m $77.0m $81.0m $86.0m $74.0m
Other Operating Income (Expense), Net — ($2.0m) $1.0b $39.0m $1.8b ($384.0m) $317.0m $36.0m
Net cash flows provided by (used in) continuing operating activities $2.1b $2.1b $1.7b $2.2b $1.5b $2.3b $1.6b $2.1b
Net cash flows provided by (used in) discontinued operating activities $2.1b $2.1b $1.7b $2.2b $238.0m $355.0m ($1.0b) $424.0m
Net cash flows provided by (used in) operating activities $2.1b $2.1b $1.7b $2.2b $1.7b $2.6b $563.0m $2.5b
Net Cash Provided by (Used in) Operating Activities $2.1b $2.1b $1.7b $2.2b $1.7b $2.6b $563.0m $2.5b
Cash flows from investing activities:
Capital expenditures ($263.0m) ($243.0m) ($312.0m) ($344.0m) ($353.0m) ($469.0m) ($519.0m) ($392.0m)
Investment in businesses, net of cash acquired ($310.0m) $0 $0 ($366.0m) ($506.0m) ($84.0m) ($10.9b) ($107.0m)
Payments to Acquire Businesses, Net of Cash Acquired — $0 $0 $366.0m $506.0m $84.0m $10.9b $107.0m
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net — — — — — ($8.0m) $0 $0
(Gain) loss on sale of investments / deconsolidation — — — $2.0m ($1.8b) $278.0m ($322.0m) ($32.0m)
Other investing activities, net ($44.0m) ($22.0m) $1.0m $7.0m $0 $23.0m $14.0m $24.0m
Payments for (Proceeds from) Other Investing Activities — $22.0m ($1.0m) ($7.0m) $0 ($23.0m) ($14.0m) ($24.0m)
Net cash flows provided by (used in) continuing investing activities — — — — $1.8b ($504.0m) ($11.0b) ($343.0m)
Net cash flows provided by (used in) discontinued investing activities — — — — ($56.0m) ($156.0m) $9.0b $36.0m
Net cash flows provided by (used in) investing activities $415.0m ($259.0m) $1.1b ($692.0m) $1.7b ($660.0m) ($2.0b) ($307.0m)
Net Cash Provided by (Used in) Investing Activities — ($259.0m) $1.1b ($692.0m) $1.7b ($660.0m) ($2.0b) ($307.0m)
Cash flows from financing activities:
Issuance of long-term debt $117.0m $107.0m $11.8b $140.0m $432.0m $5.6b $3.4b $48.0m
Proceeds from Issuance of Long-term Debt — $107.0m $11.8b $140.0m $432.0m $5.6b $3.4b $48.0m
Repayment of long-term debt $0 ($138.0m) ($1.9b) ($704.0m) ($1.3b) ($111.0m) ($5.3b) ($1.2b)
Repayments of Long-term Debt — $138.0m $1.9b $704.0m $1.3b $111.0m $5.3b $1.2b
Payments for Repurchase of Common Stock — — — $527.0m $1.4b $62.0m $1.9b $2.9b
Payments of Ordinary Dividends, Common Stock — $0 $138.0m $417.0m $509.0m $620.0m $670.0m $772.0m
Repurchases of common stock — $0 $0 ($527.0m) ($1.4b) ($62.0m) ($1.9b) ($2.9b)
Dividends Payable — — — $130 $158 $161 $199 $201
Dividends Payable, Current — $0 $105.0m — — — — —
Dividends paid on common stock $0 $0 ($138.0m) ($417.0m) ($509.0m) ($620.0m) ($670.0m) ($772.0m)
Dividends paid to non-controlling interest ($46.0m) ($28.0m) ($48.0m) ($42.0m) ($46.0m) ($58.0m) ($84.0m) ($101.0m)
Other financing activities, net ($16.0m) $6.0m $14.0m ($25.0m) ($13.0m) ($131.0m) ($30.0m) ($18.0m)
Proceeds from (Payments for) Other Financing Activities — $6.0m $14.0m ($25.0m) ($13.0m) ($131.0m) ($30.0m) ($18.0m)
Net cash flows provided by (used in) continuing financing activities — — — — ($2.9b) $4.6b ($4.6b) ($4.7b)
Net cash flows provided by (used in) discontinued financing activities — — — — ($3.0m) ($20.0m) ($25.0m) $0
Net cash flows provided by (used in) financing activities ($2.6b) ($2.0b) ($681.0m) ($1.6b) ($2.9b) $4.6b ($4.6b) ($4.7b)
Net Cash Provided by (Used in) Financing Activities — ($2.0b) ($681.0m) ($1.6b) ($2.9b) $4.6b ($4.6b) ($4.7b)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — $1.0m $45.0m ($16.0m) ($56.0m) — — —
Effect of foreign exchange rate changes on cash and cash equivalents ($39.0m) $1.0m $45.0m ($16.0m) ($56.0m) $88.0m ($103.0m) $76.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — ($177.0m) $2.2b ($33.0m) $501.0m $6.6b ($6.2b) ($2.4b)
Net increase (decrease) in cash and cash equivalents and restricted cash — ($177.0m) $2.2b ($93.0m) $501.0m $6.5b ($5.9b) ($2.4b)
Net increase (decrease) in cash and cash equivalents and restricted cash, including cash classified in current assets held for sale ($196.0m) ($177.0m) $2.2b ($33.0m) $501.0m $6.6b ($6.2b) ($2.4b)
Cash and cash equivalents, end of period $1.1b $952.0m $3.1b $3.0b $3.5b $10.0b $4.0b $1.6b
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — $957.0m $3.1b $3.0b $3.5b $10.0b $4.0b $1.6b
Cash, cash equivalents and restricted cash, beginning of period $1.1b $957.0m $3.1b $3.0b $3.5b $10.0b $4.0b $1.6b
Less: restricted cash $5.0m $5.0m $4.0m $39.0m $7.0m $2.0m $3.0m $2.0m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities ($46.0m) ($28.0m) ($48.0m) $317.0m $297.0m $320.0m $610.0m $422.0m
Income Taxes Paid, Net — — — $675.0m $833.0m $942.0m $2.1b $729.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.