CARRIER GLOBAL Corp
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 11, 2025
CARR$53.01-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statement of Cash Flows
| For the Year Ended December 31, | |||
|---|---|---|---|
| (In millions) | 2024 | 2023 | 2022 |
| Operating Activities | |||
| Net earnings (loss) | $5,708 | $1,440 | $3,584 |
| Discontinued operations, net of tax | (4,496) | 38 | (377) |
| Adjustments for non-cash items, net: | |||
| Depreciation and amortization | 1,232 | 491 | 328 |
| Deferred income tax provision | (352) | (243) | (106) |
| Stock-based compensation cost | 86 | 71 | 65 |
| Equity method investment net earnings | (231) | (211) | (262) |
| (Gain) loss on extinguishment of debt | (82) | — | (36) |
| (Gain) loss on sale of investments / deconsolidation | (322) | (19) | (1,815) |
| Changes in operating assets and liabilities | |||
| Accounts receivable, net | (40) | (161) | (51) |
| Inventories, net | 292 | 123 | (173) |
| Accounts payable and accrued liabilities | 87 | 541 | (17) |
| Distributions from equity method investments | 46 | 129 | 148 |
| Other operating activities, net | (357) | 53 | 217 |
| Net cash flows provided by (used in) continuing operating activities | 1,571 | 2,252 | 1,505 |
| Net cash flows provided by (used in) discontinued operating activities | (1,008) | 355 | 238 |
| Net cash flows provided by (used in) operating activities | 563 | 2,607 | 1,743 |
| Investing Activities | |||
| Capital expenditures | (519) | (439) | (317) |
| Investment in businesses, net of cash acquired | (10,890) | (84) | (506) |
| Dispositions of businesses | 634 | 54 | 2,902 |
| Settlement of derivative contracts, net | (264) | (50) | (194) |
| Payment to former shareholders of TCC | — | — | (104) |
| Other investing activities, net | 14 | 15 | 20 |
| Net cash flows provided by (used in) continuing investing activities | (11,025) | (504) | 1,801 |
| Net cash flows provided by (used in) discontinued investing activities | 9,000 | (156) | (56) |
| Net cash flows provided by (used in) investing activities | (2,025) | (660) | 1,745 |
| Financing Activities | |||
| (Decrease) increase in short-term borrowings, net | 50 | (5) | (149) |
| Issuance of long-term debt | 3,412 | 5,609 | 432 |
| Repayment of long-term debt | (5,345) | (111) | (1,275) |
| Repurchases of common stock | (1,944) | (62) | (1,380) |
| Dividends paid on common stock | (670) | (620) | (509) |
| Dividends paid to non-controlling interest | (84) | (58) | (46) |
| Other financing activities, net | (30) | (121) | (1) |
| Net cash flows provided by (used in) continuing financing activities | (4,611) | 4,632 | (2,928) |
| Net cash flows provided by (used in) discontinued financing activities | (25) | (20) | (3) |
| Net cash flows provided by (used in) financing activities | (4,636) | 4,612 | (2,931) |
| Effect of foreign exchange rate changes on cash and cash equivalents | (103) | 88 | (56) |
| Net increase (decrease) in cash and cash equivalents and restricted cash, including cash classified in current assets held for sale | (6,201) | 6,647 | 501 |
| Less: Change in cash balances classified as assets held for sale | (320) | 97 | (33) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | (5,881) | 6,550 | 534 |
| Cash, cash equivalents and restricted cash, beginning of period | 9,853 | 3,303 | 2,769 |
| Cash, cash equivalents and restricted cash, end of period | 3,972 | 9,853 | 3,303 |
| Less: restricted cash | 3 | 1 | 5 |
| Cash and cash equivalents, end of period | $3,969 | $9,852 | $3,298 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.