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EQUITY
 12 Months Ended
Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
EQUITY EQUITY
The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $0.01 par value. As of December 31, 2024 and December 31, 2023, 948,068,772 and 883,068,393 shares of common stock were issued, respectively, which includes 70,093,639 and 43,490,981 shares of treasury stock, respectively.

Share Repurchase Program

The Company may purchase 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 which includes a $3 billion increase approved in October 2024. As of December 31, 2024, the Company repurchased 70.1 million shares of common stock for an aggregate purchase price of $3.9 billion. As a result, the Company has approximately $3.2 billion remaining under the current authorization at December 31, 2024.

Accumulated Other Comprehensive Income (Loss)

A summary of changes in the components of Accumulated other comprehensive income (loss) is as follows:

(In millions)Foreign Currency TranslationDefined Benefit Pension and Post-retirement PlansUnrealized Hedging Gains (Losses)Accumulated Other Comprehensive Income (Loss)
Balance as of January 1, 2022$(505)$(484)$— $(989)
Other comprehensive income (loss) before reclassifications, net(525)63 — (462)
Amounts reclassified, pre-tax— 11 — 11 
Tax benefit reclassified— (3)— (3)
Chubb divestiture(574)329 — (245)
Balance as of December 31, 2022$(1,604)$(84)$— $(1,688)
Other comprehensive income (loss) before reclassifications, net160 (17)58 201 
Amounts reclassified, pre-tax— 1 — 1 
Balance as of December 31, 2023$(1,444)$(100)$58 $(1,486)
Other comprehensive income (loss) before reclassifications, net(1,173)(15)— (1,188)
Amounts reclassified, pre-tax— 2 (6)(4)
Tax benefit reclassified— (1)2 1 
Divestitures, net564 7 — 571 
Balance as of December 31, 2024$(2,053)$(107)$54 $(2,106)