$OTIS
Otis Worldwide Corp

2021 Q4 Form 10-Q Financial Statement

#000178133521000062 Filed on October 26, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $3.569B $3.620B $3.268B
YoY Change 2.18% 10.77% -1.36%
Cost Of Revenue $2.530B $2.560B $2.289B
YoY Change 1.98% 11.84% -2.1%
Gross Profit $1.039B $1.060B $979.0M
YoY Change 2.67% 8.27% 0.41%
Gross Profit Margin 29.11% 29.28% 29.96%
Selling, General & Admin $482.0M $479.0M $481.0M
YoY Change 2.12% -0.42% 8.33%
% of Gross Profit 46.39% 45.19% 49.13%
Research & Development $46.00M $39.00M $37.00M
YoY Change 15.0% 5.41% -5.13%
% of Gross Profit 4.43% 3.68% 3.78%
Depreciation & Amortization $51.00M $50.00M $48.00M
YoY Change 0.0% 4.17% 9.09%
% of Gross Profit 4.91% 4.72% 4.9%
Operating Expenses $522.0M $518.0M $518.0M
YoY Change 2.96% 0.0% 7.25%
Operating Profit $517.0M $542.0M $454.0M
YoY Change 2.38% 19.38% -5.81%
Interest Expense -$44.00M -$33.00M -$39.00M
YoY Change 18.92% -15.38% -750.0%
% of Operating Profit -8.51% -6.09% -8.59%
Other Income/Expense, Net -$5.000M -$2.000M -$2.000M
YoY Change -16.67% 0.0% -112.5%
Pretax Income $447.0M $507.0M $413.0M
YoY Change 12.59% 22.76% -18.06%
Income Tax $137.0M $128.0M $103.0M
% Of Pretax Income 30.65% 25.25% 24.94%
Net Earnings $281.0M $331.0M $266.0M
YoY Change 11.95% 24.44% -16.09%
Net Earnings / Revenue 7.87% 9.14% 8.14%
Basic Earnings Per Share $0.78 $0.61
Diluted Earnings Per Share $654.1K $0.77 $0.61
COMMON SHARES
Basic Shares Outstanding 424.8M shares 425.8M shares 433.2M shares
Diluted Shares Outstanding 430.6M shares 435.1M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.565B $1.553B $1.733B
YoY Change -12.18% -10.39%
Cash & Equivalents $1.565B $1.553B $1.733B
Short-Term Investments
Other Short-Term Assets $382.0M $441.0M $432.0M
YoY Change -10.96% 2.08%
Inventory $622.0M $628.0M $667.0M
Prepaid Expenses
Receivables $3.232B $3.217B $2.958B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.261B $6.375B $6.271B
YoY Change 27.23% 1.66%
LONG-TERM ASSETS
Property, Plant & Equipment $774.0M $775.0M $721.0M
YoY Change 0.0% 7.49%
Goodwill $1.667B $1.702B $1.700B
YoY Change -5.98% 0.12%
Intangibles $419.0M $434.0M $489.0M
YoY Change -13.43% -11.25%
Long-Term Investments
YoY Change
Other Assets $297.0M $281.0M $288.0M
YoY Change -4.19% -2.43%
Total Long-Term Assets $4.018B $4.097B $4.202B
YoY Change -4.72% -2.5%
TOTAL ASSETS
Total Short-Term Assets $8.261B $6.375B $6.271B
Total Long-Term Assets $4.018B $4.097B $4.202B
Total Assets $12.28B $10.47B $10.47B
YoY Change 14.65% -0.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.556B $1.662B $1.392B
YoY Change 7.09% 19.4%
Accrued Expenses $1.993B $1.905B $1.858B
YoY Change 0.81% 2.53%
Deferred Revenue $2.674B $2.758B $2.503B
YoY Change 5.19% 10.19%
Short-Term Debt $24.00M $38.00M $538.0M
YoY Change -96.58% -92.94%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $6.247B $6.363B $6.291B
YoY Change -6.38% 1.14%
LONG-TERM LIABILITIES
Long-Term Debt $7.249B $5.458B $5.512B
YoY Change 37.76% -0.98%
Other Long-Term Liabilities $606.0M $611.0M $629.0M
YoY Change -4.42% -2.86%
Total Long-Term Liabilities $7.855B $6.069B $6.141B
YoY Change 33.23% -1.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.247B $6.363B $6.291B
Total Long-Term Liabilities $7.855B $6.069B $6.141B
Total Liabilities $15.26B $13.71B $13.86B
YoY Change 9.72% -1.09%
SHAREHOLDERS EQUITY
Retained Earnings -$2.256B -$2.404B -$3.241B
YoY Change -27.37% -25.83%
Common Stock $119.0M $102.0M $36.00M
YoY Change 101.69% 183.33%
Preferred Stock
YoY Change
Treasury Stock (at cost) $725.0M $725.0M
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.625B -$3.854B -$4.024B
YoY Change
Total Liabilities & Shareholders Equity $12.28B $10.47B $10.47B
YoY Change 14.65% -0.01%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $281.0M $331.0M $266.0M
YoY Change 11.95% 24.44% -16.09%
Depreciation, Depletion And Amortization $51.00M $50.00M $48.00M
YoY Change 0.0% 4.17% 9.09%
Cash From Operating Activities $277.0M $355.0M $348.0M
YoY Change -10.36% 2.01% -4.4%
INVESTING ACTIVITIES
Capital Expenditures -$41.00M -$31.00M -$37.00M
YoY Change -42.25% -16.22% -205.71%
Acquisitions
YoY Change
Other Investing Activities $21.00M $29.00M -$110.0M
YoY Change 200.0% -126.36% 378.26%
Cash From Investing Activities -$20.00M -$2.000M -$147.0M
YoY Change -68.75% -98.64% 153.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.679B -705.0M -409.0M
YoY Change -758.43% 72.37% 19.94%
NET CHANGE
Cash From Operating Activities 277.0M 355.0M 348.0M
Cash From Investing Activities -20.00M -2.000M -147.0M
Cash From Financing Activities 1.679B -705.0M -409.0M
Net Change In Cash 1.936B -352.0M -208.0M
YoY Change -19460.0% 69.23% 494.29%
FREE CASH FLOW
Cash From Operating Activities $277.0M $355.0M $348.0M
Capital Expenditures -$41.00M -$31.00M -$37.00M
Free Cash Flow $318.0M $386.0M $385.0M
YoY Change -16.32% 0.26% 17.02%

Facts In Submission

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us-gaap Nature Of Operations
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Description of Business and Separation from United Technologies Corporation<div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Otis (as defined below) is the world’s leading elevator and escalator manufacturing, installation and service company. Our operations are classified into two segments: New Equipment and Service. Through the New Equipment segment, we design, manufacture, sell and install a wide range of passenger and freight elevators, as well as escalators and moving walkways, for residential and commercial building and infrastructure projects. The Service segment provides maintenance and repair services for both our products and those of other manufacturers, and provides modernization services to upgrade elevators and escalators.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> September 23, 2021, the Company announced a tender offer to acquire all of the issued and outstanding shares of Zardoya Otis, S.A. ("Zardoya Otis") not owned by the Company at a price of €7.00 per share in cash (the "Tender Offer"), and its intention to delist the shares of Zardoya Otis from the Madrid, Barcelona, Bilbao and Valencia stock exchanges subsequent to the Tender Offer. The price per share to be paid in the Tender Offer was adjusted to €6.93 as a result of the dividend paid by Zardoya Otis on October 11, 2021. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Tender Offer is subject to approval by the Comisión Nacional del Mercado de Valores (the "CNMV"), which is responsible for the regulation of Spanish securities markets. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The value of the issued and outstanding shares of Zardoya Otis not owned by the Company is €1.63 billion based on the tender price of €6.93 after the adjustment for dividends paid on October 11, 2021. The Company owned a controlling interest and had operational control of Zardoya Otis as of and for the periods ended September 30, 2021 and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2020, and therefore its</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> financial results are included in our Condensed Consolidated Financial Statements. As of September 30, 2021, the Company owned 50.02% of Zardoya Otis. See Note 9, "Borrowings and Lines of Credit" and Note 17, "Guarantees" for additional information regarding financing and guarantee agreements entered into by the Company in connection with the Tender Offer.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 26, 2018, United Technologies Corporation, subsequently renamed to Raytheon Technologies Corporation on April 3, 2020 ("UTC" or "RTX", as applicable), announced its intention to spin-off its Otis reportable segment and its Carrier reportable segment into two separate publicly-traded companies (the "Separation"). On April 3, 2020, the Company became an independent publicly-traded company through a pro-rata distribution of 0.5 shares of Common Stock for every share of UTC common stock held at the close of business on the record date of March 19, 2020 (the "Distribution"). Otis began to trade as a separate public company (New York Stock Exchange: OTIS) on April 3, 2020.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless the context otherwise requires, references to "Otis", "we", "us", "our" and "the Company" refer to (i) Otis Worldwide Corporation's business prior to the Separation and (ii) Otis Worldwide Corporation and its subsidiaries following the Separation, as applicable. References to "UTC" relate to pre-Separation matters, and references to "RTX" relate to post-Separation matters.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Separation was completed pursuant to a Separation and Distribution Agreement (the "Separation Agreement") and other agreements with our former parent, UTC, related to the Separation, including but not limited to a transition services agreement (the "Transition Service Agreement" or "TSA"), a tax matters agreement (the "Tax Matters Agreement" or "TMA"), an employee matters agreement (the "Employee Matters Agreement" or "EMA") and an intellectual property agreement (the "Intellectual Property Agreement"). For further discussion on these agreements, see Note 5, "Related Parties".</span></div>
us-gaap Number Of Reportable Segments
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2 segment
us-gaap Basis Of Accounting
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Basis of Presentation<div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the Separation on April 3, 2020, our historical financial statements were prepared on a standalone combined basis and were derived from the consolidated financial statements and accounting records of our former parent, UTC. For the period subsequent to April 3, 2020, our financial statements are presented on a consolidated basis as the Company became a standalone public company (collectively, the financial statements for all periods presented, including the historical results of the Company prior to April 3, 2020, are now referred to as "Condensed Consolidated Financial Statements" to reflect this change). They have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted.</span></div><div style="text-indent:24.76pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to the Separation on April 3, 2020, the Condensed Consolidated Statements of Operations included all revenues and costs directly attributable to Otis, including costs for facilities, functions and services used by Otis. Costs for certain functions and services performed by centralized UTC organizations were directly charged to Otis based on specific identification when possible or based on a reasonable allocation driver such as net sales, headcount, usage or other allocation methods. All charges and allocations for facilities, functions and services performed by UTC organizations have been deemed settled in cash by Otis to our former parent, UTC, in the period in which the cost was recorded on the Condensed Consolidated Statements of Operations. Current and deferred income taxes were determined based on the standalone results of Otis. However, because the Company was included in our former parent UTC’s tax group in certain jurisdictions, the Company's actual tax balances may differ from those reported. The Company's portion of its domestic income taxes and certain income taxes for jurisdictions outside the U.S. are deemed to have been settled in the period the related tax expense was recorded prior to the Separation. </span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All significant intracompany accounts and transactions within the Company have been eliminated in the preparation of the Condensed Consolidated Financial Statements. Prior to the Separation, the Condensed Consolidated Financial St</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">atements of the Company include assets and liabilities that have been determined to be specifically or otherwise attributable to the Company. </span></div><div style="text-indent:22.5pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">U</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">se of Estimates. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of these Condensed Consolidated Financial Statements and accompanying notes in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We assessed certain accounting matters that generally require consideration of forecasted financial information in the context of the information reasonably available to us and the unknown future impacts of COVID-19 at September 30, 2021 and through the date of this report. The accounting matters assessed included, but were not limited to, our allowance for </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">credit losses, the carrying value of our goodwill and other long-lived assets, financial assets and revenue recognition. While there was not a material impact to our Condensed Consolidated Financial Statements as of September 30, 2021 and for the</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> quarters and nine months ended September 30, 2021 and 2020, respectively, resulting from our assessments of these matters, future assessment of our current expectations at that time of the magnitude and duration of COVID-19, as well as other factors, could result in material impacts to our Condensed Consolidated Financial Statements in future reporting periods.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain amounts presented in the prior period have been reclassified to conform to the current period presentation, which are immaterial.</span></div>
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CY2020Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
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21000000 USD
CY2020Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-4000000 USD
CY2020Q3 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
1000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Before Tax
OtherComprehensiveIncomeLossBeforeReclassificationsBeforeTax
-69000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-11000000 USD
us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
3000000 USD
CY2021Q3 us-gaap Increase In Unrecognized Tax Benefits Is Reasonably Possible
IncreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
10000000 USD
CY2021Q3 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
370000000 USD
CY2021Q3 otis Increase In Unrecognized Tax Benefits Accrued Interest Is Reasonably Possible
IncreaseInUnrecognizedTaxBenefitsAccruedInterestIsReasonablyPossible
5000000 USD
CY2021Q3 otis Decrease In Unrecognized Tax Benefits Accrued Interest Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsAccruedInterestIsReasonablyPossible
160000000 USD
CY2021Q3 us-gaap Restructuring Charges
RestructuringCharges
9000000 USD
us-gaap Restructuring Charges
RestructuringCharges
35000000 USD
CY2020Q3 us-gaap Restructuring Charges
RestructuringCharges
20000000 USD
us-gaap Restructuring Charges
RestructuringCharges
46000000 USD
CY2021Q3 us-gaap Restructuring Charges
RestructuringCharges
9000000 USD
CY2020Q3 us-gaap Restructuring Charges
RestructuringCharges
20000000 USD
us-gaap Restructuring Charges
RestructuringCharges
35000000 USD
us-gaap Restructuring Charges
RestructuringCharges
46000000 USD
CY2020Q4 otis Four Quarter Rolling Average Of Notional Amount Of Foreign Exchange Contracts Hedging Foreign Currency Transactions
FourQuarterRollingAverageOfNotionalAmountOfForeignExchangeContractsHedgingForeignCurrencyTransactions
3000000000 USD
CY2021Q3 otis Four Quarter Rolling Average Of Notional Amount Of Foreign Exchange Contracts Hedging Foreign Currency Transactions
FourQuarterRollingAverageOfNotionalAmountOfForeignExchangeContractsHedgingForeignCurrencyTransactions
3000000000 USD
CY2021Q3 otis Four Quarter Rolling Average Of Notional Amount Of Commodity Contracts Hedging Commodity Purchase Transactions
FourQuarterRollingAverageOfNotionalAmountOfCommodityContractsHedgingCommodityPurchaseTransactions
21000000 USD
CY2020Q4 otis Four Quarter Rolling Average Of Notional Amount Of Commodity Contracts Hedging Commodity Purchase Transactions
FourQuarterRollingAverageOfNotionalAmountOfCommodityContractsHedgingCommodityPurchaseTransactions
0 USD
CY2021Q3 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
5000000 USD
CY2020Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
4000000 USD
CY2021Q3 us-gaap Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months
ForeignCurrencyCashFlowHedgeGainLossToBeReclassifiedDuringNext12Months
2000000 USD
CY2020Q3 us-gaap Commercial Paper
CommercialPaper
420000000 EUR
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
25000000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
27000000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3000000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
8000000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
8000000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
10000000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1000000 USD
CY2021Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
21000000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-1000000 USD
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
24000000 USD
CY2021Q3 otis Tender Offer Consideration
TenderOfferConsideration
1650000000 EUR
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3620000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3268000000 USD
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
542000000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
454000000 USD
CY2021Q3 otis Operating Profit Margin
OperatingProfitMargin
0.150
CY2020Q3 otis Operating Profit Margin
OperatingProfitMargin
0.139
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10729000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9263000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1612000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1199000000 USD
otis Operating Profit Margin
OperatingProfitMargin
0.150
otis Operating Profit Margin
OperatingProfitMargin
0.129
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3620000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3268000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10729000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9263000000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3620000000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3268000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10729000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9263000000 USD

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