EQUITY

3 Months Ended

Mar. 31, 2025

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

The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $0.01 par value. As of March 31, 2025 and December 31, 2024, 949,244,473 and 948,068,772 shares of common stock were issued, respectively, which includes 89,054,545 and 70,093,639 shares of treasury stock, respectively.

Share Repurchase Program

The Company may repurchase its outstanding common stock from time to time subject to market conditions and at the Company's discretion. Repurchases occur in the open market or through one or more other public or private transactions pursuant to plans complying with Rules 10b5-1 and 10b-18 under the Exchange Act. Shares acquired are recognized at cost and presented separately on the balance sheet as a reduction to Equity. Since the initial authorization in February 2021, the Company's Board of Directors authorized the repurchase of up to $7.1 billion of the Company's outstanding common stock.

During the three months ended March 31, 2025, the Company repurchased 19.0 million shares of common stock for an aggregate purchase price of $1.3 billion. As a result, the Company had approximately $1.9 billion remaining under the current authorization at March 31, 2025.

Accumulated Other Comprehensive Income (Loss)

A summary of changes in the components of Accumulated other comprehensive income (loss) for the three months ended March 31, 2025 is as follows:


(In millions)	Foreign Currency Translation		Defined Benefit Pension and Post-retirement Plans		Unrealized Hedging Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2024	$	(2,053)	$	(107)	$	54	$	(2,106)
Other comprehensive income (loss) before reclassifications, net	634		—		—		634
Amounts reclassified, pre-tax	—		—		(1)		(1)


Balance as of March 31, 2025	$	(1,419)	$	(107)	$	53	$	(1,473)

A summary of changes in the components of Accumulated other comprehensive income (loss) for the three months ended March 31, 2024 is as follows:


(In millions)	Foreign Currency Translation		Defined Benefit Pension and Post-retirement Plans		Unrealized Hedging Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2023	$	(1,444)	$	(100)	$	58	$	(1,486)
Other comprehensive income (loss) before reclassifications, net	(385)		—		—		(385)
Amounts reclassified, pre-tax	—		—		(1)		(1)


Balance as of March 31, 2024	$	(1,829)	$	(100)	$	57	$	(1,872)

- Definition

The entire disclosure for equity.

+ References

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+ Details

CARRIER GLOBAL Corp 10-Q