v3.26.1
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Accumulated Other Comprehensive Income (Loss)
Common Stock
Treasury Stock
Additional Paid-In Capital
Retained Earnings
Non-Controlling Interest
Balance as of beginning of period at Dec. 31, 2024 $ 14,395 $ (2,106) $ 9 $ (3,915) $ 8,610 $ 11,483 $ 314
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net earnings (loss) 437         412 25
Other comprehensive income (loss), net of tax 633 633          
Shares issued under incentive plans, net (17)       (17)    
Stock-based compensation 23       23    
Treasury stock repurchase (1,273)     (1,273)      
Balance as of end of period at Mar. 31, 2025 14,198 (1,473) 9 (5,188) 8,616 11,895 339
Balance as of beginning of period at Dec. 31, 2024 14,395 (2,106) 9 (3,915) 8,610 11,483 314
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net earnings (loss) 1,070            
Other comprehensive income (loss), net of tax 1,696            
Balance as of end of period at Jun. 30, 2025 15,014 (413) 9 (5,522) 8,338 12,294 308
Balance as of beginning of period at Mar. 31, 2025 14,198 (1,473) 9 (5,188) 8,616 11,895 339
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net earnings (loss) 633         591 42
Other comprehensive income (loss), net of tax 1,063 1,060         3
Dividends declared on common stock [1] (192)         (192)  
Shares issued under incentive plans, net 1       1    
Stock-based compensation 21       21    
Dividends attributable to non-controlling interest (76)           (76)
Treasury stock repurchase (334)     (334)      
Share repurchase with Viessmann (300)       (300)    
Balance as of end of period at Jun. 30, 2025 15,014 (413) 9 (5,522) 8,338 12,294 308
Balance as of beginning of period at Dec. 31, 2025 14,128 (269) 10 (6,795) 8,665 12,193 324
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net earnings (loss) 265         238 27
Other comprehensive income (loss), net of tax (292) (291)         (1)
Shares issued under incentive plans, net (10)       (10)    
Stock-based compensation 20       20    
Dividends attributable to non-controlling interest (1)           (1)
Treasury stock repurchase (309)     (309)      
Balance as of end of period at Mar. 31, 2026 13,801 (560) 10 (7,104) 8,675 12,431 349
Balance as of beginning of period at Dec. 31, 2025 14,128 (269) 10 (6,795) 8,665 12,193 324
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net earnings (loss) 806            
Other comprehensive income (loss), net of tax (268)            
Balance as of end of period at Jun. 30, 2026 13,472 (537) 10 (7,550) 8,688 12,536 325
Balance as of beginning of period at Mar. 31, 2026 13,801 (560) 10 (7,104) 8,675 12,431 349
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net earnings (loss) 541         501 40
Other comprehensive income (loss), net of tax 24 23         1
Dividends declared on common stock [2] (396)         (396)  
Shares issued under incentive plans, net (8)       (8)    
Stock-based compensation 21       21    
Dividends attributable to non-controlling interest (65)           (65)
Treasury stock repurchase (446)     (446)      
Balance as of end of period at Jun. 30, 2026 $ 13,472 $ (537) $ 10 $ (7,550) $ 8,688 $ 12,536 $ 325
[1]
(2) Cash dividends declared were $0.45 per share for the three months ended June 30, 2025
[2]
(1) Cash dividends declared were $0.48 per share for the three months ended June 30, 2026