$OTIS
Otis Worldwide Corp Stock $otis

$otis Overview Financials Valuation SEC Filings Company Website

2024 Q1 Form 10-K Financial Statement

#000178133524000013 Filed on February 02, 2024

Income Statement

Concept	2024 Q1	2023 Q4	2023
Revenue	$3.437B	$3.620B	$14.21B
YoY Change	2.72%	5.26%	3.83%
Cost Of Revenue	$2.409B	$2.552B	$10.02B
YoY Change	2.51%	2.94%	2.57%
Gross Profit	$1.028B	$1.068B	$4.193B
YoY Change	3.21%	11.25%	6.96%
Gross Profit Margin	29.91%	29.5%	29.51%
Selling, General & Admin	$447.0M	$462.0M	$1.884B
YoY Change	-1.76%	3.13%	6.86%
% of Gross Profit	43.48%	43.26%	44.93%
Research & Development	$36.00M	$37.00M	$144.0M
YoY Change	2.86%	-2.63%	-4.0%
% of Gross Profit	3.5%	3.46%	3.43%
Depreciation & Amortization	$44.00M	$48.00M	$126.0M
YoY Change	-6.38%	4.35%	6.78%
% of Gross Profit	4.28%	4.49%	3.01%
Operating Expenses	$469.0M	$510.0M	$2.028B
YoY Change	-4.29%	8.74%	6.01%
Operating Profit	$559.0M	$558.0M	$2.186B
YoY Change	8.97%	13.65%	7.53%
Interest Expense	-$44.00M	-$41.00M	-$150.0M
YoY Change	33.33%	13.89%	4.9%
% of Operating Profit	-7.87%	-7.35%	-6.86%
Other Income/Expense, Net	$0.00	-$4.000M	-$5.000M
YoY Change			150.0%
Pretax Income	$500.0M	$477.0M	$2.031B
YoY Change	4.17%	4.84%	7.57%
Income Tax	$126.0M	$133.0M	$533.0M
% Of Pretax Income	25.2%	27.88%	26.24%
Net Earnings	$353.0M	$323.0M	$1.406B
YoY Change	6.65%	8.75%	12.21%
Net Earnings / Revenue	10.27%	8.92%	9.9%
Basic Earnings Per Share	$0.87		$3.42
Diluted Earnings Per Share	$0.87	$0.79	$3.39
COMMON SHARES
Basic Shares Outstanding	405.5M shares	409.3M shares	411.4M shares
Diluted Shares Outstanding	408.1M shares		414.6M shares

Balance Sheet

Concept	2024 Q1	2023 Q4	2023
SHORT-TERM ASSETS
Cash & Short-Term Investments	$884.0M	$1.274B	$1.274B
YoY Change	-20.86%	7.15%	7.15%
Cash & Equivalents	$884.0M	$1.274B	$1.274B
Short-Term Investments
Other Short-Term Assets	$291.0M	$259.0M	$259.0M
YoY Change	-9.06%	-16.72%	-18.04%
Inventory	$593.0M	$612.0M	$612.0M
Prepaid Expenses
Receivables	$4.370B	$3.538B	$4.255B
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$6.138B	$6.400B	$6.400B
YoY Change	-0.24%	4.18%	4.18%
LONG-TERM ASSETS
Property, Plant & Equipment	$1.118B	$727.0M	$1.143B
YoY Change	55.49%	1.11%	-2.14%
Goodwill	$1.575B	$1.588B
YoY Change	0.32%	1.34%
Intangibles	$343.0M	$335.0M
YoY Change	-4.72%	-9.21%
Long-Term Investments
YoY Change
Other Assets	$314.0M	$328.0M	$328.0M
YoY Change	6.8%	14.29%	14.29%
Total Long-Term Assets	$3.653B	$3.717B	$3.717B
YoY Change	-1.06%	1.12%	1.12%
TOTAL ASSETS
Total Short-Term Assets	$6.138B	$6.400B	$6.400B
Total Long-Term Assets	$3.653B	$3.717B	$3.717B
Total Assets	$9.791B	$10.12B	$10.12B
YoY Change	-0.55%	3.03%	3.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.641B	$1.878B	$1.878B
YoY Change	8.32%	9.38%	9.38%
Accrued Expenses	$1.691B	$1.873B	$1.757B
YoY Change	0.71%	4.4%	-2.06%
Deferred Revenue	$2.951B	$2.696B
YoY Change	-1.07%	1.28%
Short-Term Debt	$0.00	$32.00M	$0.00
YoY Change	-100.0%	-76.98%	-100.0%
Long-Term Debt Due	$35.00M	$0.00	$32.00M
YoY Change	-93.51%	-100.0%	-95.22%
Total Short-Term Liabilities	$6.318B	$6.479B	$6.479B
YoY Change	-7.4%	-5.32%	-5.32%
LONG-TERM LIABILITIES
Long-Term Debt	$6.846B	$6.866B	$6.866B
YoY Change	11.94%	12.59%	12.59%
Other Long-Term Liabilities	$1.443B	$493.0M	$1.492B
YoY Change	164.29%	-11.33%	-3.24%
Total Long-Term Liabilities	$8.289B	$7.359B	$8.358B
YoY Change	24.42%	10.6%	9.4%
TOTAL LIABILITIES
Total Short-Term Liabilities	$6.318B	$6.479B	$6.479B
Total Long-Term Liabilities	$8.289B	$7.359B	$8.358B
Total Liabilities	$14.82B	$14.84B	$15.04B
YoY Change	2.29%	2.44%	2.4%
SHAREHOLDERS EQUITY
Retained Earnings	-$1.794B	-$2.005B
YoY Change	-32.38%	-30.02%
Common Stock	$210.0M	$213.0M
YoY Change	22.09%	31.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$2.684B	$2.382B
YoY Change	53.37%	51.24%
Treasury Stock Shares
Shareholders Equity	-$5.024B	-$4.924B	-$4.924B
YoY Change
Total Liabilities & Shareholders Equity	$9.791B	$10.12B	$10.12B
YoY Change	-0.55%	3.03%	3.03%

Cashflow Statement

Concept	2024 Q1	2023 Q4	2023
OPERATING ACTIVITIES
Net Income	$353.0M	$323.0M	$1.406B
YoY Change	6.65%	8.75%	12.21%
Depreciation, Depletion And Amortization	$44.00M	$48.00M	$126.0M
YoY Change	-6.38%	4.35%	6.78%
Cash From Operating Activities	$171.0M	$597.0M	$1.627B
YoY Change	-38.49%	28.66%	4.29%
INVESTING ACTIVITIES
Capital Expenditures	$31.00M	$42.00M	$138.0M
YoY Change	24.0%	-223.53%	-220.0%
Acquisitions	$30.00M		$36.00M
YoY Change	87.5%		-21.74%
Other Investing Activities	-$48.00M	-$9.000M	-$15.00M
YoY Change	1500.0%	-85.25%	66.67%
Cash From Investing Activities	-$79.00M	-$51.00M	-$183.0M
YoY Change	276.19%	-46.32%	454.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net			$800.0M
YoY Change			-5.88%
Debt Paid & Issued, Net			$534.0M
YoY Change			6.8%
Cash From Financing Activities	-467.0M	-932.0M	-$1.350B
YoY Change	36.95%	272.8%	-63.03%
NET CHANGE
Cash From Operating Activities	171.0M	597.0M	$1.627B
Cash From Investing Activities	-79.00M	-51.00M	-$183.0M
Cash From Financing Activities	-467.0M	-932.0M	-$1.350B
Net Change In Cash	-375.0M	-386.0M	$85.00M
YoY Change	406.76%	-424.37%	-103.72%
FREE CASH FLOW
Cash From Operating Activities	$171.0M	$597.0M	$1.627B
Capital Expenditures	$31.00M	$42.00M	$138.0M
Free Cash Flow	$140.0M	$555.0M	$1.489B
YoY Change	-44.66%	11.45%	-11.1%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023	dei	Entity Small Business EntitySmallBusiness	false
CY2023	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2021	us-gaap	Profit Loss ProfitLoss	1420000000	usd
CY2021	us-gaap	Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax	3000000	usd
CY2023	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2023	dei	Amendment Flag AmendmentFlag	false
CY2023	dei	Entity Central Index Key EntityCentralIndexKey	0001781335
CY2023Q4	us-gaap	Supplier Finance Program Obligation Statement Of Financial Position Extensible Enumeration SupplierFinanceProgramObligationStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#AccountsPayableCurrent
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CY2023Q4	us-gaap	Derivative Liability Statement Of Financial Position Extensible Enumeration DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2022Q4	us-gaap	Derivative Asset Statement Of Financial Position Extensible Enumeration DerivativeAssetStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#OtherAssetsCurrent http://fasb.org/us-gaap/2023#OtherAssetsNoncurrent
CY2022Q4	us-gaap	Derivative Liability Statement Of Financial Position Extensible Enumeration DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration	http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2023Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
CY2022Q4	us-gaap	Operating Lease Liability Current Statement Of Financial Position Extensible List OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList	http://fasb.org/us-gaap/2023#AccruedLiabilitiesCurrent
CY2023	dei	Document Annual Report DocumentAnnualReport	true
CY2023	dei	Document Period End Date DocumentPeriodEndDate	2023-12-31
CY2023	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023	dei	Document Transition Report DocumentTransitionReport	false
CY2023	dei	Entity File Number EntityFileNumber	001-39221
CY2023	dei	Entity Registrant Name EntityRegistrantName	OTIS WORLDWIDE CORPORATION
CY2023	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	83-3789412
CY2023	dei	Entity Address Address Line1 EntityAddressAddressLine1	One Carrier Place
CY2023	dei	Entity Address City Or Town EntityAddressCityOrTown	Farmington
CY2023	dei	Entity Address State Or Province EntityAddressStateOrProvince	CT
CY2023	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	06032
CY2023	dei	City Area Code CityAreaCode	860
CY2023	dei	Local Phone Number LocalPhoneNumber	674-3000
CY2023	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	Yes
CY2023	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2023	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
CY2023	dei	Icfr Auditor Attestation Flag IcfrAuditorAttestationFlag	true
CY2023	dei	Document Fin Stmt Error Correction Flag DocumentFinStmtErrorCorrectionFlag	false
CY2023	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Public Float EntityPublicFloat	36614205287	usd
CY2024Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	405454626	shares
CY2023	dei	Auditor Firm AuditorFirmId	238
CY2023	dei	Auditor Name AuditorName	PricewaterhouseCoopers LLP
CY2023	dei	Auditor Location AuditorLocation	Hartford, Connecticut
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CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.98
CY2021	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.91
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.39
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.96
CY2021	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.89
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	411400000	shares
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	420000000.0	shares
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CY2023	us-gaap	Nature Of Operations NatureOfOperations	Business Overview <div><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 largest 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, commercial 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><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">UpLift</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During 2023, the Company announced UpLift to transform the Company's operating model. UpLift will include, among other aspects, the standardization of processes and improvement of supply chain procurement, as well as restructuring actions. See Note 16, "Restructuring and Transformation Costs" for information regarding UpLift restructuring actions and related costs incurred.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Sale of Russia Business</span></div><div><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company sold its business in Russia during 2022. See Note 8, "Business Acquisitions, Dispositions, Goodwill and Intangible Assets" for additional information regarding the sale of our Russia business.</span></div><div><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Zardoya Otis Tender Offer</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company previously announced its Tender Offer to acquire all of the issued and outstanding shares of Zardoya Otis not owned by the Company in cash, and its intention to delist the shares of Zardoya Otis from the Spanish stock exchanges subsequent to the Tender Offer (the "Tender Offer"). The price per share of the Tender Offer was €7.07 in cash as of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">March 31, 2022</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, after adjustments for dividends paid. The Tender Offer was approved by the Spanish regulator on February 28, 2022. As a result of the Tender Offer approval, the issued and outstanding shares of Zardoya Otis owned by Euro Syns, S.A. ("Euro Syns") were reclassified to current liabilities as Forward purchase agreement, and the remaining shares not owned by the Company were deemed redeemable at the option of the other shareholders and were reclassified from Noncontrolling interest to Redeemable noncontrolling interest on our Consolidated Financial Statements. The difference between the historical noncontrolling interest carrying value in the balance sheet and the fair value of the Tender Offer was recorded to Accumulated deficit.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The results of the Tender Offer were announced on April 7, 2022, with tenders, including Euro Syns' shares, of 45.49% of the shares outstanding accepted, resulting in the Company owning 95.51% of Zardoya Otis. The shares tendered to the Company were settled in cash on April 12, 2022 for approximately €1.5 billion from the Company's restricted cash held in escrow. The acquisition and settlement of the remaining issued and outstanding shares of Zardoya Otis not owned by the Company occurred in the second quarter of 2022 for approximately €150 million. The automatic </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">delisting of Zardoya Otis</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> shares occurred on </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">May 9, 2022. Zardoya Otis was then renamed Otis Mobility S.A. ("Otis Mobility").</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:400;line-height:120%">The Company owned a controlling interest and had operational control of Otis Mobility (formerly Zardoya Otis) as of and for the years ended December 31, 2023, 2022 and 2021, and therefore its financial results are included in our Consolidated Financial Statements. The Company owned 50.02% of Otis Mobility prior to the Tender Offer and 100% after completion of the Tender Offer. See Note 9, "Borrowings and Lines of Credit" for additional information regarding financing agreements entered into by the Company and its subsidiaries in connection with the Tender Offer.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Separation from United Technologies Corporation</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 3, 2020, United Technologies Corporation, subsequently renamed to RTX Corporation ("UTC" or "RTX", as applicable), completed the spin-off of the Company into an independent publicly-traded company (the "Separation") 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 ("Distribution"). Otis began to trade as a separate public company (New York Stock Exchange ("NYSE"): OTIS) on April 3, 2020. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 2, "Summary of Significant Accounting Policies" for additional information regarding the Separation and related costs.</span></div><div><span style="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>
CY2023	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	2	segment
CY2023	us-gaap	Basis Of Accounting BasisOfAccounting	Summary of Significant Accounting Policies<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Principles of Consolidation and Basis of Presentation.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The accompanying Consolidated Financial Statements include the accounts of Otis and its controlled subsidiaries, as well as entities where Otis has a variable interest and is the primary beneficiary as defined by Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Consolidation</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The factors we use to determine the primary beneficiary of a variable interest entity ("VIE") may include decision authority, control over management of day-to-day operations and the amount of our equity investment in relation to others' investments.</span></div><div style="text-indent:36pt"><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All significant intercompany accounts and transactions within the Company have been eliminated in the preparation of the Consolidated Financial Statements.</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:400;line-height:120%">Certain amounts for prior years have been reclassified to conform to the current year presentation, which are immaterial.</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%">Use of Estimates.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The preparation of the Consolidated Financial Statements and accompanying notes 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 materially from those estimates.</span></div><div><span><br/></span></div><div><span style="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 macroeconomic developments, including inflationary pressures, higher interest rates and tighter credit conditions as of December 31, 2023 and through the date of this report. The accounting matters assessed included, but were not limited to, our allowance for 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 Consolidated Financial Statements resulting from our assessments of these matters, future assessment of our current expectations at that time of the magnitude and duration of these macroeconomic developments, as well as other factors, could result in material impacts to our Consolidated Financial Statements in future reporting periods.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We also assessed certain accounting matters as they relate to the ongoing conflict between Russia and Ukraine and the war between Israel and Hamas, including, but not limited to, our allowance for credit losses, the carrying value of long-lived assets, revenue recognition and the classification of assets. There was not a material impact to our Consolidated Financial Statements resulting from our assessment of these matters. We continue to assess the impact on our results of operations, financial position and overall performance as the situations develop and any broader implications they may have on the global economy.</span></div><div><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%">Cash and Cash Equivalents.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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. </span></div><div><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%">Restricted Cash. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In certain circumstances we are required to maintain cash deposits with certain banks with respect to contractual or other legal obligations, and therefore the use of these cash deposits for general operational purposes is restricted. Our restricted cash balances are $6 million as of December 31, </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023 and 2022, which</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> are</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> primarily included in Other current assets on the Consolidated Balance Sheets, respectively.</span></div><div><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%">Accounts Receivable. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company records accounts receivable when the right to consideration becomes unconditional. We regularly evaluate the collectability of our accounts receivable and maintain reserves for expected credit losses. See Note 5, "Accounts Receivable, Net" for additional information on the Company's policy for evaluation of expected credit losses. We do not believe that accounts receivable represent significant concentrations of credit risk because of the diversified portfolio of individual customers and geographic areas.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Retainage and Unbilled Receivables.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Current an</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">d long-term accounts receivable as of December 31, 2023 and 2022 include retainage of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$63 million</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and $60 million, respectively, and unbilled receiv</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ables of $119 million and $103 million, respectively. Retainage represents amounts that, pursuant to the applicable contract, are not due until after project completion and acceptance by the customer. Unbilled receivables represent revenues that are earned but may not be currently billable to the customer under the terms of the contract. These items are expected to be billed and collected in the ordinary course of business. Unbilled receivables where we have an unconditional right to payment are included in Accounts receivable, net as of December 31, 2023 and 2022.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Customer Financing Notes Receivable.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Through financing arrangements with our customers, we extend payment terms, which are generally not more than one year in duration. </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-style:italic;font-weight:400;line-height:120%">Factoring.</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 Company may sell certain trade accounts and notes receivable to lending institutions primarily to manage credit risk. Financial assets sold under these arrangements are excluded from Accounts receivable, net in the Company’s Consolidated Balance Sheets at the time of sale if the Company has surrendered control over the related assets. Whether control has been relinquished requires, among other things, an evaluation of relevant legal considerations and an assessment of the nature and extent of the Company’s continuing involvement with the assets transferred. Gains and losses stemming from transfers reported as sales are included in Interest expense (income), net in the accompanying Consolidated Statements of Operations.</span></div><div style="text-indent:20pt"><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%">Contract Assets and Liabilities.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Contract assets and liabilities represent the difference in the timing of revenue recognition from receipt of cash from our customers and billings.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, current. Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. We receive payments from customers based on the terms established in our contracts.</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> See Note 4, "Contract Assets and Liabilities" </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">for further discussion of contract assets and liabilities.</span></div><div style="text-indent:20pt"><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%">Inventories.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Inventories are stated at the lower of cost or estimated realizable value and are primarily based on a first-in, first-out method. Valuation write-downs for excess, obsolete and slow-moving inventory are estimated by comparing the inventory levels of individual parts 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 inventoriable cost. See Note 6, "Inventories" for further details of the inventories by classification.</span></div><div><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%">Fixed Assets.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Fixed assets, including software capitalized for internal-use, are recorded at cost. Depreciation of fixed assets is computed over the fixed assets' useful lives on a straight-line basis, unless another systematic and rational basis is more representative of the fixed asset's pattern of use. See Note 7, "Fixed Assets" for further details of useful lives.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Internal Use Software.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company capitalizes direct costs of services used in the development of, and external software acquired for use as, internal-use software. Amounts capitalized are amortized over a period ranging from <span style="-sec-ix-hidden:f-495">three</span> to five years, on a straight-line basis, unless another systematic and rational basis is more representative of the software's use. Amounts are reported as a component of Machinery and equipment.</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-style:italic;font-weight:400;line-height:120%">Asset Retirement Obligations.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company records the fair value of legal obligations associated with the retirement of tangible long-lived assets in the period in which the legal obligations are determined to exist. Upon initial recognition of a liability, the Company capitalizes the cost of the asset retirement obligation by increasing the carrying amount of the related long-lived asset. Over time, the liabilit</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">y is adjusted for c</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">hanges in its present value and the capitalized cost is depreciated over the useful life of the related asset.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fair Value of Financial Instruments.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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:</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%">Level I – Quoted prices for identical instruments in active markets.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div style="padding-left:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</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%">Level III – Instruments whose significant value drivers are unobservable.</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:400;line-height:120%">The carrying amount of current trade receivables, accounts payable and accrued expenses approximates fair value due to the short maturity (less than one year) of the instruments.</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%">Equity Method Investments.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Entities in which we have the ability to exercise significant influence, but do not control, are accounted for under the equity method of accounting and are included in Other assets on the Consolidated Balance Sheets. Under this method of accounting, our share of the net earnings or losses of the investee entity is included in Other income (expense), net in the Consolidated Statements of Operations since the activities of the investee entity are closely aligned with the operations of the Company. We evaluate our 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.</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%">Business Combinations.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> We account for transactions that are classified as business combinations in accordance with the FASB ASC Topic 805: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Business Combinations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Once a business is acquired, the fair values of the identifiable assets acquired and liabilities assumed are d</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">etermined 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.</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%">Goodwill, Intangible Assets and Long-Lived Assets. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Intangible assets consist of service portfolios, patents, trademarks/trade names, customer relationships and other intangible assets. Acquired intangible assets are recognized at fair value during acquisition accounting and then amortized to Cost of products and services sold and Selling, general and administrative over the applicable useful lives.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Goodwill and Indefinite-Lived Intangible Assets. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill and intangible assets deemed to have indefinite lives are not amortized. Goodwill and indefinite-lived intangible assets are subject to impairment testing annually or when a triggering event occurs using the guidance and criteria described in FASB ASC Topic 350: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Intangibles – Goodwill and Other</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This testing compares carrying values to fair values and, when appropriate, the carrying value of these assets is reduced to fair value.</span></div><div><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We test goodwill for impairment at a level within the Company referred to as the reporting unit, which is one level below the operating segment level. When testing goodwill for impairment, the Company may first assess qualitative factors. If an initial qualitative assessment identified that it is more likely than not that the fair value of a reporting unit is less than its carrying value, additional quantitative testing is performed. The Company may also elect to skip the qualitative testing and proceed directly to the quantitative testing. If the quantitative testing indicates that goodwill is impaired, an impairment charge is recognized based on the difference between the reporting unit's carrying value and its fair value. When it is determined that a quantitative analysis is required, the Company primarily utilizes a discounted cash flow methodology to calculate the fair value of its reporting units. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company completed its most recent annual impairment testing as of July 1, 2023, and determined in the qualitative assessment that quantitative testing is not necessary. There were no triggering events since the annual impairment test.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Finite-Lived Intangible Assets and Long-Lived Assets.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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 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: </span></div><div><span><br/></span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.718%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.498%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Purchased service portfolios</span></div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">5 to 25 years</span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Patents, trademarks/trade names</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">4 to 40 years</span></div></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Customer relationships and other</span></div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">1 to 20 years</span></div></td></tr></table></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:400;line-height:120%">The Company evaluates the potential impairment of long-lived assets, including finite-lived intangible assets, whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. If the carrying value of other long-lived assets h</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">eld and used exceeds the sum of the undiscounted expected future cash flows, the carrying value is written down to fair value. See Note 7, "Fixed Assets" and Note 8, "</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Business Acquisitions, Dispositions, Goodwill and Intangible Assets</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">" for additional information regarding intangible assets and other long-lived asse</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ts.</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%">Income Taxes.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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. For those tax positions where it is more-likely-than-not that a tax benefit will be sustained, we have 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. We recognize accrued interest related to unrecognized tax benefits in Interest expense (income), net. Penalties, if incurred, would be recognized as a component of Income tax expense.</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:400;line-height:120%">The U.S. Tax Cuts and Jobs Act ("TCJA") subjects the Company to a tax on Global Intangible Low-Taxed Income (“GILTI”). GILTI is a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. We account for GILTI as a period cost as incurred.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">See Note 15, "Income Taxes" for additional information.</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%">Revenue Recognition.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> We recognize revenue in accordance with FASB ASC Topic 606: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Revenue from Contracts with Customers</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and its related amendments,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(referred to, collectively, as "ASC 606”). The Company's revenue streams include new equipment, maintenance and repair, and modernization. New equipment, modernization and repair services revenue are recognized over time as we are enhancing an asset the customer controls. Maintenance revenue is recognized on a straight-line basis over the life of the maintenance contract.</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-style:italic;font-weight:400;line-height:120%">New Equipment, Modernization and Repair Services. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For new equipment and modernization transactions, equipment and installation are typically procured in a single contract providing the customer with a complete installed elevator or escalator unit. The combination of equipment and installation promises are typically a single performance obligation. For repair services, the customer typically contracts for specific short-term services which form a single performance obligation.</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:400;line-height:120%">For these performance obligations, revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress. Incurred costs represent work performed, which corresponds with and best depicts transfer of control or the enhancement of the customer’s assets. Contract costs included in the calculation are comprised of labor, materials, subcontractors’ costs or other direct costs and indirect costs, which include indirect labor costs. Specific to new equipment and modernization arrangements, the Company, based on project progression, reviews cost estimates on significant contracts on a quarterly basis, and</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for others, no less frequently than annually or when circumstances change and warrant a modification to a previous estimate. These estimates form the basis for the amount of revenue to be recognized and include the latest updated total transaction price, costs and risks for each contract. These estimates for our ongoing contracts may materially change due to the change and completions of the contract scopes, cost estimates and customers' plans, among other factors.</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:400;line-height:120%">For performance obligations recognized under the cost to cost method, we record changes in contract estimates using the cumulative catch-up method. Modifications are recognized as a cumulative catch-up or treated as a separate accounting contract if the modification adds distinct goods or services and the modification is priced at its stand-alone selling price.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Maintenance. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our customers purchase maintenance contracts which include services such as required periodic maintenance procedures, preventive services and stand ready obligations to remediate issues with the elevator/escalator when and if they arise. Given the continuous nature of these services throughout the year, we recognize revenue on maintenance contracts on a straight-line basis which aligns with the cost profile of these services. Contractual changes are typically recognized prospectively as most modifications are extensions of the existing arrangement.</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-style:italic;font-weight:400;line-height:120%">Transaction Price Considerations. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our contracts typically include fixed payments which are generally received as we progress under our contracts. As a result, we have not identified any significant financing elements in our contract, and our contracts do not have significant estimates related to variable consideration except in the case of a project having an underlying performance issue, which is rare. In situations where multiple performance obligations in a single contract (e.g.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">new equipment and maintenance) e</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">xist, the transaction price is allocated to each performance obligation in proportion to its stand-alone selling price. Estimates are made to account for changes in transaction prices attributable to pricing disputes that occur subsequent to the inception of contracts, based upon historical experience and the status of contracts.</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-style:italic;font-weight:400;line-height:120%">Certain Costs to Obtain or Fulfill Contracts</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Certain costs to obtain or fulfill a contract with a customer must be capitalized, to the extent recoverable from the associated contract margin, and subsequently amortized as the products or services are delivered to the customer. Sales commissions related to new equipment, modernization and maintenance contracts, excluding renewals, are capitalized as contract fulfillment costs and are amortized consistent with the pattern of transfer of the goods or services. Customer contract costs, which do not qualify for capitalization as contract fulfillment costs, are expensed as incurred.</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-style:italic;font-weight:400;line-height:120%">Loss Contracts. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss provisions on contracts are recognized to the extent that estimated contract costs exceed the estimated consideration from the products or services contemplated under the contractual arrangement. For new commitments, we generally record loss provisions at contract inception. For existing commitments, anticipated losses on contractual arrangements are recognized in the period in which losses become probable.</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-style:italic;font-weight:400;line-height:120%">Remaining Performance Obligations ("RPO").</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> RPO represents the aggregate amount of total contract transaction price that is unsatisfied or partially unsatisfied. As of December 31, 2023, our total RPO was approximately $18.0 billion. Of the total RPO as of December 31, 2023, we expect approximately 90% will be recognized as sales over the following 24 months.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additional disclosure required by ASC 606 is provided in Note 22, "Segment Financial Data", including disaggregation of revenue into categories that depict how the nature, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">amount, timing and uncertainty of revenue and cash flows are affected by economic factors.</span></div><div><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%">Supplier Finance Programs</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. On January 1, 2023, we adopted ASU No. 2022-04, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Liabilities - Supplier Finance Programs (Topic 450-50): Disclosure of Supplier Finance Program Obligations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> that requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about obligations outstanding at the end of the reporting period. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain Otis subsidiaries participate in supplier finance programs, under which we agree to pay third-party financial institutions the stated amounts of confirmed invoices from suppliers on the original due date of the invoices, while the participating suppliers generally have the ability to sell, or otherwise pledge as collateral, their receivables from the Company to the participating financial institutions. Our obligations to suppliers, including the amounts due and scheduled payment dates, are not impacted by the suppliers' decisions to sell their receivables to the financial institutions, or otherwise pledge their receivables as collateral, under these arrangements. The Company is not a party to the arrangements between the suppliers and the financial institutions, and the Company's payment terms to the financial institutions, including the timing and amount of payments, are based on the original supplier invoices. Based on the applicable supplier agreements, the payment terms of these supplier invoices can range between 30 and 120 days from the invoice date. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The outstanding obligations confirmed by the Company as valid to the financial institutions under our supplier finance programs were $627 million and $564 million as of December 31, 2023 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2022</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, respectively. These obligations are included in <span style="-sec-ix-hidden:f-517">Accounts payable</span> in the Consolidated Balance Sheets, and all activity related to the obligations is presented within operating activities on the Consolidated Statements of Cash Flows.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company or the financial institutions may terminate the agreements with advanced notice. Otis has pledged no assets in connection with its supplier finance programs.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Self-Insurance.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Company is primarily self-insured for a number of risks including, but not limited to, workers’ compensation, general liability, automobile liability and employee-related healthcare benefits. The Company has obtained insurance coverage for amounts exceeding individual and aggregate loss limits. The Company accrues for known future claims and incurred but not reported losses wit</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">hin Accrued liabilities and Other long-term liabilities on the Consolidated Balance Sheets, totaling </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$256 million</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and $270 million as of December 31, 2023 and 2022, respectively.</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%">Derivatives and Hedging Activity. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have used derivative instruments, principally forward contracts, to help manage certain foreign currency and commodity price exposures. Derivative instruments are viewed as risk management tools by us and are not used for trading or speculative purposes. By their nature, all financial instruments involve market and credit risks. We enter into derivative and other financial instruments with major investment-grade financial institutions and have policies to monitor the credit risk of those counterparties. We limit counterparty exposure and concentration of risk by diversifying counterparties. While there can be no assurance, we do not anticipate any material non-performance by any of these counterparties.</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-style:italic;font-weight:400;line-height:120%">Designated Derivative Instruments. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivatives used for hedging purposes may be designated and effective as a hedge of the identified risk exposure at the inception of the contract. All derivative instruments are recorded on the Consolidated Balance Sheets at fair value. Derivatives are used to hedge foreign currency denominated balance sheet items and commodity prices for materials recognized in cost of sales, and are reported directly in earnings along with offsetting transaction gains and losses on the items being hedged. Derivatives used to hedge forecasted cash flows associated with foreign currency commitmen</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ts or forecasted commodity purchases m</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ay be accounted for as cash flow hedges, as deemed appropriate. Gains and losses on derivatives designated as cash flow hedges are recorded in Other comprehensive income (loss), net of tax and reclassified to earnings as a component of product sales or expenses, as applicable, when the hedged transaction occurs. Gains and losses on derivatives designated as cash flow hedges are recorded in Other operating activities, net within the Consolidated Statement of Cash Flows until reclassification to earnings. To the extent that a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hed</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ging relationship is recorded currently in earnings in the period it occurs. </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:400;line-height:120%">Additional information pertaining to net investment hedging is included in Note 17, "Financial Instruments".</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-style:italic;font-weight:400;line-height:120%">Non-Designated Derivative Instruments. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent the hedge accounting criteria are not applied, the foreign currency forward contracts and commodity price contracts are utilized as economic hedges and changes in the fair value of these contracts are recorded currently in earnings in the period in which they occur. Additional information pertaining to these contracts is included in Note 17, "Financial Instruments".</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:400;line-height:120%">In addition, the Company periodically enters into sales contracts denominated in currencies other than the functional currency of the parties to the transaction. The Company accounts for these transactions separately valuing the embedded derivative component of these contracts. The changes in the fair value of these embedded derivatives are immaterial for the years ended December 31, 2023, 2022 and 2021.</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%">Environmental.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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 current laws, regulations and prior remediation experience. Whe</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">re no amount within a range of estimates is more likely, the minimum is accrued. Liabilities with fixed or reliably determinable future cash payments are discounted. Accrued environmental liabilities are not reduced by potential insurance reimbursements. See Note 21, "Contingent Liabilities" for additional details on the environmental remediation activities.</span></div><div style="text-indent:22.5pt"><span><br/></span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Research and Development.</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> These costs are expensed in the period incurred and are shown on a separate line of the Consolidated Statements of Operations. Research and development expenses, covering research and the advancement of potential new and improved products and their uses, primarily include salaries and other employment costs.</span></div><div><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%">Other Income (Expense), Net.</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Other income (expense), net i</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ncludes the impact of changes in the fair value and settlement of certain derivatives, gains or losses on sale of businesses and fixed assets, earnings from equity method investments, fair value changes on marketable securities, impairments, UpLift transformation costs and Separation-related expenses, </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">gains on insurance recoveries </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and certain other infrequent operating income and expense items. See Note 16, "Restructuring and Transformation Costs" for additional details on UpLift transformation costs.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Foreign Exchange. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We conduct business in many different currencies and, accordingly, are subject to the inherent risks associated with foreign exchange rate movements. The financial position and results of operations of substantially all of our foreign subsidiaries 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 the balance sheets of these subsidiaries are deferred within Accumulated other comprehensive income (loss).</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%">Pension and Postretirement Obligations.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Guidance under FASB ASC Topic 715: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Compensation – Retirement Benefits</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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 (loss), net of tax effects, until they are amortized as a component of net periodic benefit cost.</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> See Note 12, "Employee Benefit Plans" for additional information.</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%">Additional Paid-in Capital.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Additional paid-in capital includes the value of stock-based award activity, as well as the difference between the cost of acquiring the Noncontrolling interest in consolidated subsidiaries and Otis' carrying value of the Noncontrolling interest associated with those subsidiaries.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company recorded $18 million and $2 million in 2022 and 2021, respectively, in Additional paid-in capital for transaction costs associated with the acquisition of shares of Otis Mobility (formerly Zardoya Otis) not owned by the Company. Refer to Note 1, "Business Overview" for additional information on the Tender Offer. There were no transaction costs recorded in Additional paid-in capital in 2023.</span></div><div><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%">Noncontrolling Interest. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ownership interest in the Company's consolidated subsidiaries held by parties other than the Company are presented separately from Shareholders' Equity (Deficit) as “Noncontrolling interest” within equity on the Consolidated Balance Sheets. The amount of net income attributable to Otis Worldwide Corporation and the noncontrolling interest are both presented on the Consolidated Statements of Operations.</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:400;line-height:120%">All noncontrolling interest with redemption features, such as put options or other contractual obligations to acquire the noncontrolling interest, that are not solely within our control are redeemable noncontrolling interest. Redeemable noncontrolling interest are reported in the mezzanine section of the Consolidated Balance Sheets, between Liabilities and Shareholders' Equity (Deficit), at the greater of redemption value or initial carrying value.</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:400;line-height:120%">The activity attributable to noncontrolling interest and redeemable noncontrolling interest for the years ended December 31, 2023, 2022 and 2021 is presented in the Consolidated Statements of Changes in Equity.</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%">Separation from UTC and Related Costs. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Separation, as further described in Note 1, "Business Overview", was completed pursuant to a Separation and Distribution Agreement ("Separation Agreement") and other agreements with our former parent, UTC, and Carrier Global Corporation ("Carrier"), related to the Separation, including but not limited to a transition services agreement (the "Transition Services Agreement" or "TSA") and a tax matters agreement (the "Tax Matters Agreement" or "TMA").</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the TSA, which was substantially completed as of December 31, 2021, RTX provided the Company certain services and we provided certain services to RTX. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We entered into the TMA with our former parent UTC and Carrier 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, Otis generally is responsible for federal, state and foreign taxes imposed on a separate return basis on Otis (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.</span></div><div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We incurred non-recurring Separation costs, net, of $27 million in </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2021, of which </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$16 million are recorded in Selling, general and administrative expense on the Consolidated Statements of Operations, with the remaining recorded in Other income (expense), net</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Non-recurring Separation costs in 2023 and 2022 were insignificant. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Separation-related costs in 2021 primarily consisted of costs to exit from certain services previously provided under the TSA and other transaction-related costs to transition to being a standalone public company.</span></div><div><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%">Accounting Pronouncements.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2020, the FASB issued ASU 2020-04</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reference Rate Reform (Topic 848):</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Facilitation of the Effects of Reference Rate Reform on Financial Reportin</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">g ("ASU 2020-04")</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">which provides temporary optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 apply only to contracts, </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Additionally, in December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848):</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Deferral of the Sunset Date of Topic 848 </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">("ASU 2022-06"), which allows ASU 2020-04 to be adopted and applied prospectively to contract modifications made on or before December 31, 2024. We are currently evaluating the impact of adopting this standard; however, we do not expect it to have a material impact on our Consolidated Financial Statements.</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:400;line-height:120%">In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Accounting for Contract Assets and Contract Liabilities from Contracts with Customers</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This ASU clarifies that an acquirer of a business should recognize and measure contract assets and contract liabilities in a business combination in accordance with Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, with early application permitted. The Company adopted ASU 2021-08 effective January 1, 2023. The adoption of this ASU did not have a material impact on our Consolidated Financial Statements.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2022, the FASB issued ASU 2022-04, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Liabilities - Supplier Finance Programs (Topic 450-50)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Disclosure of Supplier Finance Program Obligations</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about obligations outstanding at the end of the reporting period, including a rollforward of those obligations. The guidance does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. ASU 2022-04 is effective for fiscal years beginning after December 15, 2022, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023. The adoption of this ASU did not have a material impact on our Consolidated Financial Statements, as disclosed in Note 2, "Summary of Significant Accounting Policies" under the heading "Supplier Finance Programs".</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2023, the FASB issued ASU 2023-05, Business Combinations - Joint Ventures Formations (Subtopic 805-60): </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Recognition and initial measurement </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">("ASU 2023-05"), which requires that joint ventures, upon formation, apply a new basis of accounting by initially measuring assets and liabilities at fair value. The amendments in ASU 2023-05 are effective for joint ventures that are formed on or after January 1, 2025. Early adoption is permitted. We are currently evaluating the impact of this standard; however, we do not expect it to have a material impact on our Consolidated Financial Statements.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Improvements to Reportable Segment Disclosures</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The amendments in this update improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. We are currently evaluating the impact of this standard; however, we do not expect it to have a material impact on our Consolidated Financial Statements.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Improvements to Income Tax Disclosures</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. The amendments in this update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This update also includes certain other amendments to improve the effectiveness of income tax disclosures. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. We are currently evaluating the impact of this standard; however, we do not expect it to have a material impact on our Consolidated Financial Statements.</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:400;line-height:120%">Other new accounting pronouncements issued but not effective until after December 31, 2023 did not and are not expected to have a material impact on our financial position, results of operations or liquidity.</span></div>
CY2023	us-gaap	Use Of Estimates UseOfEstimates	<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The preparation of the Consolidated Financial Statements and accompanying notes 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 materially from those estimates.</span></div><div><span><br/></span></div><div><span style="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 macroeconomic developments, including inflationary pressures, higher interest rates and tighter credit conditions as of December 31, 2023 and through the date of this report. The accounting matters assessed included, but were not limited to, our allowance for 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 Consolidated Financial Statements resulting from our assessments of these matters, future assessment of our current expectations at that time of the magnitude and duration of these macroeconomic developments, as well as other factors, could result in material impacts to our Consolidated Financial Statements in future reporting periods.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We also assessed certain accounting matters as they relate to the ongoing conflict between Russia and Ukraine and the war between Israel and Hamas, including, but not limited to, our allowance for credit losses, the carrying value of long-lived assets, revenue recognition and the classification of assets. There was not a material impact to our Consolidated Financial Statements resulting from our assessment of these matters. We continue to assess the impact on our results of operations, financial position and overall performance as the situations develop and any broader implications they may have on the global economy.</span></div>
CY2023Q4	us-gaap	Restricted Cash RestrictedCash	6000000	usd
CY2022Q4	us-gaap	Restricted Cash RestrictedCash	6000000	usd
CY2023Q4	otis	Contract Receivables Retainage ContractReceivablesRetainage	63000000	usd
CY2022Q4	otis	Contract Receivables Retainage ContractReceivablesRetainage	60000000	usd
CY2023Q4	us-gaap	Unbilled Contracts Receivable UnbilledContractsReceivable	119000000	usd
CY2022Q4	us-gaap	Unbilled Contracts Receivable UnbilledContractsReceivable	103000000	usd
CY2023Q4	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	18000000000	usd
CY2023Q4	us-gaap	Revenue Remaining Performance Obligation Percentage RevenueRemainingPerformanceObligationPercentage	0.90
CY2023Q4	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1	P24M
CY2023Q4	us-gaap	Supplier Finance Program Obligation SupplierFinanceProgramObligation	627000000	usd
CY2022Q4	us-gaap	Supplier Finance Program Obligation SupplierFinanceProgramObligation	564000000	usd
CY2023Q4	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	256000000	usd
CY2022Q4	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	270000000	usd
CY2023	us-gaap	Derivatives Methods Of Accounting Hedging Derivatives DerivativesMethodsOfAccountingHedgingDerivatives	<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Derivatives and Hedging Activity. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have used derivative instruments, principally forward contracts, to help manage certain foreign currency and commodity price exposures. Derivative instruments are viewed as risk management tools by us and are not used for trading or speculative purposes. By their nature, all financial instruments involve market and credit risks. We enter into derivative and other financial instruments with major investment-grade financial institutions and have policies to monitor the credit risk of those counterparties. We limit counterparty exposure and concentration of risk by diversifying counterparties. While there can be no assurance, we do not anticipate any material non-performance by any of these counterparties.</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-style:italic;font-weight:400;line-height:120%">Designated Derivative Instruments. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivatives used for hedging purposes may be designated and effective as a hedge of the identified risk exposure at the inception of the contract. All derivative instruments are recorded on the Consolidated Balance Sheets at fair value. Derivatives are used to hedge foreign currency denominated balance sheet items and commodity prices for materials recognized in cost of sales, and are reported directly in earnings along with offsetting transaction gains and losses on the items being hedged. Derivatives used to hedge forecasted cash flows associated with foreign currency commitmen</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ts or forecasted commodity purchases m</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ay be accounted for as cash flow hedges, as deemed appropriate. Gains and losses on derivatives designated as cash flow hedges are recorded in Other comprehensive income (loss), net of tax and reclassified to earnings as a component of product sales or expenses, as applicable, when the hedged transaction occurs. Gains and losses on derivatives designated as cash flow hedges are recorded in Other operating activities, net within the Consolidated Statement of Cash Flows until reclassification to earnings. To the extent that a previously designated hedging transaction is no longer an effective hedge, any ineffectiveness measured in the hed</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ging relationship is recorded currently in earnings in the period it occurs. </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:400;line-height:120%">Additional information pertaining to net investment hedging is included in Note 17, "Financial Instruments".</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-style:italic;font-weight:400;line-height:120%">Non-Designated Derivative Instruments. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent the hedge accounting criteria are not applied, the foreign currency forward contracts and commodity price contracts are utilized as economic hedges and changes in the fair value of these contracts are recorded currently in earnings in the period in which they occur. Additional information pertaining to these contracts is included in Note 17, "Financial Instruments".</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:400;line-height:120%">In addition, the Company periodically enters into sales contracts denominated in currencies other than the functional currency of the parties to the transaction. The Company accounts for these transactions separately valuing the embedded derivative component of these contracts. The changes in the fair value of these embedded derivatives are immaterial for the years ended December 31, 2023, 2022 and 2021.</span></div>
CY2023	us-gaap	Net Income Loss NetIncomeLoss	1406000000	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	1253000000	usd
CY2021	us-gaap	Net Income Loss NetIncomeLoss	1246000000	usd
CY2023	us-gaap	Net Income Loss Attributable To Redeemable Noncontrolling Interest NetIncomeLossAttributableToRedeemableNoncontrollingInterest	0	usd
CY2022	us-gaap	Net Income Loss Attributable To Redeemable Noncontrolling Interest NetIncomeLossAttributableToRedeemableNoncontrollingInterest	0	usd
CY2021	us-gaap	Net Income Loss Attributable To Redeemable Noncontrolling Interest NetIncomeLossAttributableToRedeemableNoncontrollingInterest	0	usd
CY2023	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	1406000000	usd
CY2022	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	1253000000	usd
CY2021	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	1246000000	usd
CY2023	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	411400000	shares
CY2022	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	420000000.0	shares
CY2021	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	427700000	shares
CY2023	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	3200000	shares
CY2023	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	3200000	shares
CY2022	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	3000000.0	shares
CY2021	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	3700000	shares
CY2023	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	414600000	shares
CY2022	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	423000000.0	shares
CY2021	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	431400000	shares
CY2023	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.42
CY2022	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.98
CY2021	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.91
CY2023	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.39
CY2022	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.96
CY2021	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.89
CY2023	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1000000	shares
CY2022	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	2300000	shares
CY2021	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	100000	shares
CY2023Q4	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	717000000	usd
CY2022Q4	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	664000000	usd
CY2023Q4	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	717000000	usd
CY2022Q4	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	664000000	usd
CY2023Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	2696000000	usd
CY2022Q4	us-gaap	Contract With Customer Liability Current ContractWithCustomerLiabilityCurrent	2662000000	usd
CY2023Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	48000000	usd
CY2022Q4	us-gaap	Contract With Customer Liability Noncurrent ContractWithCustomerLiabilityNoncurrent	52000000	usd
CY2023Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	2744000000	usd
CY2022Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	2714000000	usd
CY2023Q4	otis	Contract With Customer Asset Liability Net ContractWithCustomerAssetLiabilityNet	-2027000000	usd
CY2022Q4	otis	Contract With Customer Asset Liability Net ContractWithCustomerAssetLiabilityNet	-2050000000	usd
CY2023	otis	Contract With Customer Asset Increase Decrease ContractWithCustomerAssetIncreaseDecrease	53000000	usd
CY2023	otis	Contractwith Customer Liability Change ContractwithCustomerLiabilityChange	30000000	usd
CY2021	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	2000000000	usd
CY2023	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	2000000000	usd
CY2022	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	2000000000	usd
CY2023Q4	otis	Trade Receivables Current TradeReceivablesCurrent	3390000000	usd
CY2022Q4	otis	Trade Receivables Current TradeReceivablesCurrent	3231000000	usd
CY2023Q4	us-gaap	Unbilled Receivables Current UnbilledReceivablesCurrent	119000000	usd
CY2022Q4	us-gaap	Unbilled Receivables Current UnbilledReceivablesCurrent	103000000	usd
CY2023Q4	us-gaap	Other Receivables Gross Current OtherReceivablesGrossCurrent	96000000	usd
CY2022Q4	us-gaap	Other Receivables Gross Current OtherReceivablesGrossCurrent	91000000	usd
CY2023Q4	otis	Notes Receivable Customer Financing NotesReceivableCustomerFinancing	63000000	usd
CY2022Q4	otis	Notes Receivable Customer Financing NotesReceivableCustomerFinancing	84000000	usd
CY2023Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	3668000000	usd
CY2022Q4	us-gaap	Accounts Receivable Gross Current AccountsReceivableGrossCurrent	3509000000	usd
CY2023Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	130000000	usd
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	152000000	usd
CY2023Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	3538000000	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	3357000000	usd
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	152000000	usd
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	175000000	usd
CY2020Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	161000000	usd
CY2023	us-gaap	Allowance For Doubtful Accounts Receivable Period Increase Decrease AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease	29000000	usd
CY2022	us-gaap	Allowance For Doubtful Accounts Receivable Period Increase Decrease AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease	5000000	usd
CY2021	us-gaap	Allowance For Doubtful Accounts Receivable Period Increase Decrease AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease	37000000	usd
CY2023	us-gaap	Allowance For Doubtful Accounts Receivable Write Offs AllowanceForDoubtfulAccountsReceivableWriteOffs	48000000	usd
CY2022	us-gaap	Allowance For Doubtful Accounts Receivable Write Offs AllowanceForDoubtfulAccountsReceivableWriteOffs	22000000	usd
CY2021	us-gaap	Allowance For Doubtful Accounts Receivable Write Offs AllowanceForDoubtfulAccountsReceivableWriteOffs	15000000	usd
CY2023	otis	Accounts Receivable Allowance For Credit Loss Foreign Exchange Gain Loss And Other AccountsReceivableAllowanceForCreditLossForeignExchangeGainLossAndOther	-3000000	usd
CY2022	otis	Accounts Receivable Allowance For Credit Loss Foreign Exchange Gain Loss And Other AccountsReceivableAllowanceForCreditLossForeignExchangeGainLossAndOther	-6000000	usd
CY2021	otis	Accounts Receivable Allowance For Credit Loss Foreign Exchange Gain Loss And Other AccountsReceivableAllowanceForCreditLossForeignExchangeGainLossAndOther	-8000000	usd
CY2023Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	130000000	usd
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	152000000	usd
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	175000000	usd
CY2023Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	154000000	usd
CY2022Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	166000000	usd
CY2023Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	458000000	usd
CY2022Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	451000000	usd
CY2023Q4	us-gaap	Inventory Net InventoryNet	612000000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	617000000	usd
CY2023Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	87000000	usd
CY2022Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	96000000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1959000000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	1870000000	usd
CY2023Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	1232000000	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	1151000000	usd
CY2023Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	727000000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	719000000	usd
CY2023	us-gaap	Depreciation Depreciation	126000000	usd
CY2022	us-gaap	Depreciation Depreciation	118000000	usd
CY2021	us-gaap	Depreciation Depreciation	116000000	usd
CY2023	us-gaap	Business Combination Consideration Transferred1 BusinessCombinationConsiderationTransferred1	36000000	usd
CY2022	us-gaap	Business Combination Consideration Transferred1 BusinessCombinationConsiderationTransferred1	46000000	usd
CY2021	us-gaap	Business Combination Consideration Transferred1 BusinessCombinationConsiderationTransferred1	80000000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	1567000000	usd
CY2023	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	7000000	usd
CY2023	us-gaap	Goodwill Foreign Currency Translation Gain Loss GoodwillForeignCurrencyTranslationGainLoss	14000000	usd
CY2023Q4	us-gaap	Goodwill Goodwill	1588000000	usd
CY2021Q4	us-gaap	Goodwill Goodwill	1667000000	usd
CY2022	us-gaap	Goodwill Acquired During Period GoodwillAcquiredDuringPeriod	18000000	usd
CY2022	us-gaap	Goodwill Written Off Related To Sale Of Business Unit GoodwillWrittenOffRelatedToSaleOfBusinessUnit	29000000	usd
CY2022	us-gaap	Goodwill Foreign Currency Translation Gain Loss GoodwillForeignCurrencyTranslationGainLoss	-89000000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	1567000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	2065000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1737000000	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	2020000000	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1657000000	usd
CY2023Q4	us-gaap	Indefinite Lived Intangible Assets Excluding Goodwill IndefiniteLivedIntangibleAssetsExcludingGoodwill	7000000	usd
CY2022Q4	us-gaap	Indefinite Lived Intangible Assets Excluding Goodwill IndefiniteLivedIntangibleAssetsExcludingGoodwill	6000000	usd
CY2023Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	2072000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1737000000	usd
CY2022Q4	us-gaap	Intangible Assets Gross Excluding Goodwill IntangibleAssetsGrossExcludingGoodwill	2026000000	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	1657000000	usd
CY2023	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	67000000	usd
CY2022	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	73000000	usd
CY2021	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	87000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	61000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	55000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	40000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	34000000	usd
CY2023Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	27000000	usd
CY2023Q4	us-gaap	Assets Held For Sale Not Part Of Disposal Group AssetsHeldForSaleNotPartOfDisposalGroup	11000000	usd
CY2022Q4	us-gaap	Assets Held For Sale Not Part Of Disposal Group AssetsHeldForSaleNotPartOfDisposalGroup	9000000	usd
CY2023Q4	us-gaap	Commercial Paper CommercialPaper	0	usd
CY2022Q4	us-gaap	Commercial Paper CommercialPaper	94000000	usd
CY2023Q4	us-gaap	Other Short Term Borrowings OtherShortTermBorrowings	32000000	usd
CY2022Q4	us-gaap	Other Short Term Borrowings OtherShortTermBorrowings	45000000	usd
CY2023Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	32000000	usd
CY2022Q4	us-gaap	Short Term Borrowings ShortTermBorrowings	139000000	usd
CY2023	us-gaap	Long Term Debt Weighted Average Interest Rate Over Time LongTermDebtWeightedAverageInterestRateOverTime	0.021
CY2022	us-gaap	Long Term Debt Weighted Average Interest Rate Over Time LongTermDebtWeightedAverageInterestRateOverTime	0.020
CY2021	us-gaap	Long Term Debt Weighted Average Interest Rate Over Time LongTermDebtWeightedAverageInterestRateOverTime	0.023
CY2023Q4	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	6910000000	usd
CY2022Q4	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	6671000000	usd
CY2023Q4	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	44000000	usd
CY2022Q4	us-gaap	Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet	42000000	usd
CY2023Q4	us-gaap	Long Term Debt LongTermDebt	6866000000	usd
CY2022Q4	us-gaap	Long Term Debt LongTermDebt	6629000000	usd
CY2023Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	0	usd
CY2022Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	531000000	usd
CY2023Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6866000000	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	6098000000	usd
CY2023	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	7000000	usd
CY2022	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	8000000	usd
CY2021	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	6000000	usd
CY2023	us-gaap	Interest Expense Debt InterestExpenseDebt	155000000	usd
CY2022	us-gaap	Interest Expense Debt InterestExpenseDebt	140000000	usd
CY2021	us-gaap	Interest Expense Debt InterestExpenseDebt	136000000	usd
CY2022Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	42000000	usd
CY2023Q4	us-gaap	Unamortized Debt Issuance Expense UnamortizedDebtIssuanceExpense	42000000	usd
CY2023	otis	Long Term Debt Average Remaining Maturity LongTermDebtAverageRemainingMaturity	P7Y10M24D
CY2023Q4	us-gaap	Short Term Debt Weighted Average Interest Rate ShortTermDebtWeightedAverageInterestRate	0
CY2022Q4	us-gaap	Short Term Debt Weighted Average Interest Rate ShortTermDebtWeightedAverageInterestRate	0.047
CY2023Q4	us-gaap	Longterm Debt Weighted Average Interest Rate LongtermDebtWeightedAverageInterestRate	0.025
CY2022Q4	us-gaap	Longterm Debt Weighted Average Interest Rate LongtermDebtWeightedAverageInterestRate	0.020
CY2023	us-gaap	Short Term Debt Weighted Average Interest Rate Over Time ShortTermDebtWeightedAverageInterestRateOverTime	0.051
CY2022	us-gaap	Short Term Debt Weighted Average Interest Rate Over Time ShortTermDebtWeightedAverageInterestRateOverTime	0.023
CY2021	us-gaap	Short Term Debt Weighted Average Interest Rate Over Time ShortTermDebtWeightedAverageInterestRateOverTime	-0.003
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	0	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	1300000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	808000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	500000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	750000000	usd
CY2023Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	3548000000	usd
CY2023Q4	us-gaap	Debt Instrument Carrying Amount DebtInstrumentCarryingAmount	6906000000	usd
CY2023Q4	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	592000000	usd
CY2022Q4	us-gaap	Accrued Salaries Current AccruedSalariesCurrent	555000000	usd
CY2023Q4	us-gaap	Interest Payable Current InterestPayableCurrent	205000000	usd
CY2022Q4	us-gaap	Interest Payable Current InterestPayableCurrent	198000000	usd
CY2023Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	141000000	usd
CY2022Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	103000000	usd
CY2023Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	117000000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	127000000	usd
CY2023Q4	us-gaap	Accrual For Taxes Other Than Income Taxes Current AccrualForTaxesOtherThanIncomeTaxesCurrent	116000000	usd
CY2022Q4	us-gaap	Accrual For Taxes Other Than Income Taxes Current AccrualForTaxesOtherThanIncomeTaxesCurrent	112000000	usd
CY2023Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	702000000	usd
CY2022Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	699000000	usd
CY2023Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1873000000	usd
CY2022Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1794000000	usd
CY2023Q4	otis	Contractual Indemnity Obligation Noncurrent ContractualIndemnityObligationNoncurrent	149000000	usd
CY2022Q4	otis	Contractual Indemnity Obligation Noncurrent ContractualIndemnityObligationNoncurrent	203000000	usd
CY2023Q4	us-gaap	Self Insurance Reserve Noncurrent SelfInsuranceReserveNoncurrent	139000000	usd
CY2022Q4	us-gaap	Self Insurance Reserve Noncurrent SelfInsuranceReserveNoncurrent	150000000	usd
CY2023Q4	us-gaap	Workers Compensation Liability Noncurrent WorkersCompensationLiabilityNoncurrent	95000000	usd
CY2022Q4	us-gaap	Workers Compensation Liability Noncurrent WorkersCompensationLiabilityNoncurrent	91000000	usd
CY2023Q4	us-gaap	Other Sundry Liabilities Noncurrent OtherSundryLiabilitiesNoncurrent	110000000	usd
CY2022Q4	us-gaap	Other Sundry Liabilities Noncurrent OtherSundryLiabilitiesNoncurrent	112000000	usd
CY2023Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	493000000	usd
CY2022Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	556000000	usd
CY2023	us-gaap	Defined Contribution Plan Employer Discretionary Contribution Amount DefinedContributionPlanEmployerDiscretionaryContributionAmount	65000000	usd
CY2022	us-gaap	Defined Contribution Plan Employer Discretionary Contribution Amount DefinedContributionPlanEmployerDiscretionaryContributionAmount	64000000	usd
CY2021	us-gaap	Defined Contribution Plan Employer Discretionary Contribution Amount DefinedContributionPlanEmployerDiscretionaryContributionAmount	62000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Benefit Obligation DefinedBenefitPlanBenefitObligation	853000000	usd
CY2021Q4	us-gaap	Defined Benefit Plan Benefit Obligation DefinedBenefitPlanBenefitObligation	1126000000	usd
CY2023	us-gaap	Defined Benefit Plan Service Cost DefinedBenefitPlanServiceCost	29000000	usd
CY2022	us-gaap	Defined Benefit Plan Service Cost DefinedBenefitPlanServiceCost	39000000	usd
CY2023	us-gaap	Defined Benefit Plan Interest Cost DefinedBenefitPlanInterestCost	33000000	usd
CY2022	us-gaap	Defined Benefit Plan Interest Cost DefinedBenefitPlanInterestCost	16000000	usd
CY2023	us-gaap	Defined Benefit Plan Actuarial Gain Loss DefinedBenefitPlanActuarialGainLoss	-75000000	usd
CY2022	us-gaap	Defined Benefit Plan Actuarial Gain Loss DefinedBenefitPlanActuarialGainLoss	216000000	usd
CY2023	us-gaap	Defined Benefit Plan Benefit Obligation Benefits Paid DefinedBenefitPlanBenefitObligationBenefitsPaid	35000000	usd
CY2022	us-gaap	Defined Benefit Plan Benefit Obligation Benefits Paid DefinedBenefitPlanBenefitObligationBenefitsPaid	30000000	usd
CY2023	otis	Defined Benefit Plan Special Termination Benefits Curtailments And Settlements DefinedBenefitPlanSpecialTerminationBenefitsCurtailmentsAndSettlements	21000000	usd
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CY2023	us-gaap	Defined Benefit Plan Other Changes DefinedBenefitPlanOtherChanges	23000000	usd
CY2022	us-gaap	Defined Benefit Plan Other Changes DefinedBenefitPlanOtherChanges	-53000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Benefit Obligation DefinedBenefitPlanBenefitObligation	957000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Benefit Obligation DefinedBenefitPlanBenefitObligation	853000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Fair Value Of Plan Assets DefinedBenefitPlanFairValueOfPlanAssets	589000000	usd
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CY2023	us-gaap	Defined Benefit Plan Actual Return On Plan Assets DefinedBenefitPlanActualReturnOnPlanAssets	13000000	usd
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CY2023	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	48000000	usd
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CY2023	us-gaap	Defined Benefit Plan Plan Assets Benefits Paid DefinedBenefitPlanPlanAssetsBenefitsPaid	35000000	usd
CY2022	us-gaap	Defined Benefit Plan Plan Assets Benefits Paid DefinedBenefitPlanPlanAssetsBenefitsPaid	30000000	usd
CY2023	us-gaap	Defined Benefit Plan Settlements Plan Assets DefinedBenefitPlanSettlementsPlanAssets	21000000	usd
CY2022	us-gaap	Defined Benefit Plan Settlements Plan Assets DefinedBenefitPlanSettlementsPlanAssets	29000000	usd
CY2023	otis	Defined Benefit Plan Plan Assets Other DefinedBenefitPlanPlanAssetsOther	15000000	usd
CY2022	otis	Defined Benefit Plan Plan Assets Other DefinedBenefitPlanPlanAssetsOther	-29000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Fair Value Of Plan Assets DefinedBenefitPlanFairValueOfPlanAssets	609000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Fair Value Of Plan Assets DefinedBenefitPlanFairValueOfPlanAssets	589000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Fair Value Of Plan Assets DefinedBenefitPlanFairValueOfPlanAssets	609000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Fair Value Of Plan Assets DefinedBenefitPlanFairValueOfPlanAssets	589000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Benefit Obligation DefinedBenefitPlanBenefitObligation	957000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Benefit Obligation DefinedBenefitPlanBenefitObligation	853000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Funded Status Of Plan DefinedBenefitPlanFundedStatusOfPlan	-348000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Funded Status Of Plan DefinedBenefitPlanFundedStatusOfPlan	-264000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Amounts Recognized In Balance Sheet DefinedBenefitPlanAmountsRecognizedInBalanceSheet	-348000000	usd
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CY2023Q4	us-gaap	Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax	-103000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses Before Tax DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax	-12000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax	1000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit Before Tax DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax	1000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax	104000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax	13000000	usd
CY2023	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	48000000	usd
CY2022	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	33000000	usd
CY2021	us-gaap	Defined Benefit Plan Contributions By Employer DefinedBenefitPlanContributionsByEmployer	37000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation	628000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Projected Benefit Obligation DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation	402000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation	555000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Accumulated Benefit Obligation DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation	357000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets	192000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Pension Plans With Accumulated Benefit Obligations In Excess Of Plan Assets Aggregate Fair Value Of Plan Assets DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets	31000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsProjectedBenefitObligation	704000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Projected Benefit Obligation DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsProjectedBenefitObligation	594000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Accumulated Benefit Obligation DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsAccumulatedBenefitObligation	605000000	usd
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber	6761000	shares
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice	65.37
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue	163000000	usd
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1	P4Y4M24D
CY2023Q4	otis	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedAndExpectedToVestOutstandingNumber	1658000	shares
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodIntrinsicValue	0
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested	148000000	usd
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms	P1Y1M6D
CY2022Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Accumulated Benefit Obligation DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsAccumulatedBenefitObligation	522000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets	257000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Pension Plan With Projected Benefit Obligation In Excess Of Plan Assets Plan Assets DefinedBenefitPlanPensionPlanWithProjectedBenefitObligationInExcessOfPlanAssetsPlanAssets	214000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Accumulated Benefit Obligation DefinedBenefitPlanAccumulatedBenefitObligation	800000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Accumulated Benefit Obligation DefinedBenefitPlanAccumulatedBenefitObligation	800000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate	0.034
CY2022Q4	us-gaap	Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Discount Rate DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationDiscountRate	0.038
CY2023	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate	0.038
CY2022	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate	0.015
CY2021	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate	0.011
CY2023Q4	us-gaap	Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease	0.032
CY2022Q4	us-gaap	Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Rate Of Compensation Increase DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationRateOfCompensationIncrease	0.031
CY2023	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease	0.031
CY2022	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease	0.030
CY2021	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease	0.030
CY2023	us-gaap	Defined Benefit Plan Expected Return On Plan Assets DefinedBenefitPlanExpectedReturnOnPlanAssets	0	usd
CY2022	us-gaap	Defined Benefit Plan Expected Return On Plan Assets DefinedBenefitPlanExpectedReturnOnPlanAssets	0	usd
CY2023	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets	0.051
CY2022	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets	0.042
CY2021	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets	0.036
CY2023Q4	us-gaap	Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Weighted Average Interest Crediting Rate DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationWeightedAverageInterestCreditingRate	0.017
CY2022Q4	us-gaap	Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Weighted Average Interest Crediting Rate DefinedBenefitPlanAssumptionsUsedCalculatingBenefitObligationWeightedAverageInterestCreditingRate	0.021
CY2023	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Weighted Average Interest Crediting Rate DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostWeightedAverageInterestCreditingRate	0.021
CY2022	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Weighted Average Interest Crediting Rate DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostWeightedAverageInterestCreditingRate	0.012
CY2021	us-gaap	Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Weighted Average Interest Crediting Rate DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostWeightedAverageInterestCreditingRate	0.006
CY2023Q4	us-gaap	Defined Benefit Plan Fair Value Of Plan Assets DefinedBenefitPlanFairValueOfPlanAssets	609000000	usd
CY2022Q4	us-gaap	Defined Benefit Plan Fair Value Of Plan Assets DefinedBenefitPlanFairValueOfPlanAssets	589000000	usd
CY2023Q4	us-gaap	Defined Benefit Plan Expected Future Employer Contributions Next Fiscal Year DefinedBenefitPlanExpectedFutureEmployerContributionsNextFiscalYear	34000000	usd
CY2020Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized	45000000	shares
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1 ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1	P3Y
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant	22000000	shares
CY2023	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	64000000	usd
CY2022	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	66000000	usd
CY2021	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	67000000	usd
CY2023	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	7000000	usd
CY2022	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	8000000	usd
CY2021	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	8000000	usd
CY2023	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	57000000	usd
CY2022	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	58000000	usd
CY2021	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	59000000	usd
CY2023	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	6000000	usd
CY2022	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	5000000	usd
CY2021	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	4000000	usd
CY2023Q4	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions	71000000	usd
CY2023	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P1Y10M24D
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	290000	shares
CY2022Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	61.10
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	5000	shares
CY2023	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	83.63
CY2023	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	106000	shares
CY2023	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	58.81
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	1000	shares
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	50.40
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	188000	shares
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	62.94
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	24.67
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	20.14
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	14.83
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	84.88
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	81.67
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	68.22
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	7903000	shares
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	67.39
CY2023Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue	174000000	usd
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1	P5Y
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.269
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate	0.279
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate	0.268
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate	0.269
CY2023	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y2M12D
CY2022	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y2M12D
CY2021	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y3M18D
CY2023	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.015
CY2022	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.012
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.013
CY2021	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.007
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	125000000	shares
CY2023Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	125000000	shares
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2023Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	2000000000	shares
CY2023Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2023Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	437000000	shares
CY2023Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	437000000	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	435600000	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	435600000	shares
CY2023Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	30400000	shares
CY2022Q4	us-gaap	Treasury Stock Common Shares TreasuryStockCommonShares	20800000	shares
CY2023Q4	us-gaap	Stock Repurchase Program Authorized Amount1 StockRepurchaseProgramAuthorizedAmount1	2000000000	usd
CY2023Q4	us-gaap	Stock Repurchase Program Remaining Authorized Repurchase Amount1 StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1	1200000000	usd
CY2023	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	9600000	shares
CY2022	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	11100000	shares
CY2021	us-gaap	Stock Repurchased During Period Shares StockRepurchasedDuringPeriodShares	9700000	shares
CY2023	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	800000000	usd
CY2022	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	850000000	usd
CY2021	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	725000000	usd
CY2023	otis	Stock Repurchased During Period Excise Tax Percent StockRepurchasedDuringPeriodExciseTaxPercent	0.01
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	565000000	usd
CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	484000000	usd
CY2021	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	420000000	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	1466000000	usd
CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	1404000000	usd
CY2021	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	1541000000	usd
CY2023	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	2031000000	usd
CY2022	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	1888000000	usd
CY2021	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	1961000000	usd
CY2021Q4	us-gaap	Tax Cuts And Jobs Act Of2017 Transition Tax For Accumulated Foreign Earnings Liability TaxCutsAndJobsActOf2017TransitionTaxForAccumulatedForeignEarningsLiability	16000000	usd
CY2023Q4	us-gaap	Undistributed Earnings Of Foreign Subsidiaries UndistributedEarningsOfForeignSubsidiaries	6100000000	usd
CY2023	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	82000000	usd
CY2022	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	68000000	usd
CY2021	us-gaap	Current Federal Tax Expense Benefit CurrentFederalTaxExpenseBenefit	77000000	usd
CY2023	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	50000000	usd
CY2022	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	43000000	usd
CY2021	us-gaap	Current State And Local Tax Expense Benefit CurrentStateAndLocalTaxExpenseBenefit	32000000	usd
CY2023	us-gaap	Current Foreign Tax Expense Benefit CurrentForeignTaxExpenseBenefit	462000000	usd
CY2022	us-gaap	Current Foreign Tax Expense Benefit CurrentForeignTaxExpenseBenefit	424000000	usd
CY2021	us-gaap	Current Foreign Tax Expense Benefit CurrentForeignTaxExpenseBenefit	524000000	usd
CY2023	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	594000000	usd
CY2022	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	535000000	usd
CY2021	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	633000000	usd
CY2023	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	-24000000	usd
CY2022	us-gaap	Deferred Federal Income Tax Expense Benefit DeferredFederalIncomeTaxExpenseBenefit	-4000000	usd
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CY2023	us-gaap	Deferred State And Local Income Tax Expense Benefit DeferredStateAndLocalIncomeTaxExpenseBenefit	-5000000	usd
CY2022	us-gaap	Deferred State And Local Income Tax Expense Benefit DeferredStateAndLocalIncomeTaxExpenseBenefit	-1000000	usd
CY2021	us-gaap	Deferred State And Local Income Tax Expense Benefit DeferredStateAndLocalIncomeTaxExpenseBenefit	-6000000	usd
CY2023	us-gaap	Deferred Foreign Income Tax Expense Benefit DeferredForeignIncomeTaxExpenseBenefit	-32000000	usd
CY2022	us-gaap	Deferred Foreign Income Tax Expense Benefit DeferredForeignIncomeTaxExpenseBenefit	-11000000	usd
CY2021	us-gaap	Deferred Foreign Income Tax Expense Benefit DeferredForeignIncomeTaxExpenseBenefit	-73000000	usd
CY2023	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-61000000	usd
CY2022	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-16000000	usd
CY2021	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-92000000	usd
CY2023	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	533000000	usd
CY2022	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	519000000	usd
CY2021	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	541000000	usd
CY2023	us-gaap	Income Tax Effects Allocated Directly To Equity IncomeTaxEffectsAllocatedDirectlyToEquity	16000000	usd
CY2022	us-gaap	Income Tax Effects Allocated Directly To Equity IncomeTaxEffectsAllocatedDirectlyToEquity	-50000000	usd
CY2021	us-gaap	Income Tax Effects Allocated Directly To Equity IncomeTaxEffectsAllocatedDirectlyToEquity	-25000000	usd
CY2023	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210
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$OTIS
Otis Worldwide Corp Stock $otis

2024 Q1 Form 10-K Financial Statement

#000178133524000013 Filed on February 02, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$OTIS Otis Worldwide Corp Stock $otis

2024 Q1 Form 10-K Financial Statement

#000178133524000013 Filed on February 02, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$OTIS
Otis Worldwide Corp Stock $otis