v3.26.1
Reportable Business Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting, Measurement Disclosures [Abstract]  
Summary of segment description The following table describes each segment:
 
SegmentProduct or ServicesMarkets ServedGeographic Areas
Home Comfort SolutionsFurnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, replacement parts and supplies, water heatersResidential Replacement;
Residential Parts and Supplies;
Residential New Construction		United States
Canada
Building Climate SolutionsUnitary heating and air conditioning equipment, applied systems, controls, installation and service of commercial heating and cooling equipment, variable refrigerant flow commercial products, curb, curb adapters, drop box diffusers, HVAC recycling and salvage service, condensing units, unit coolers, fluid coolers, air cooled condensers, air handlers, process chillers, controls, compressorized racks, replacement parts and suppliesLight Commercial;
Commercial Parts and Supplies;
Food Preservation; Non-Food Industry; Cold Storage and Light Industrial		United States
Canada
Net sales and segment profit (loss) and reconciliation of segment profit (loss) to income from continuing operations before income taxes
Key financial information for each segment is shown below (in millions):
 Home Comfort SolutionsBuilding Climate SolutionsTotal
Three months ended June 30, 2026
Net sales(1)
$935.6 $609.7 $1,545.3 
Cost of goods sold626.0 378.7 1,004.7 
Selling, general and administrative
88.0 75.5 163.5 
Other (income) expense(2)
(0.2)0.2 — 
Segment profit(3)
$221.8 $155.3 $377.1 
Three months ended June 30, 2025
Net sales(1)
$1,009.3 $491.6 $1,500.9 
Cost of goods sold671.5 310.8 982.3 
Selling, general and administrative
91.4 61.1 152.5 
Other income(2)
(5.6)(0.9)(6.5)
Segment profit(3)
$252.0 $120.6 $372.6 
 Home Comfort SolutionsBuilding Climate SolutionsTotal
Six months ended June 30, 2026
Net sales(1)
$1,585.6 $1,094.8 $2,680.4 
Cost of goods sold1,093.8 694.9 1,788.7 
Selling, general and administrative
185.2 149.5 334.7 
Other income(2)
(1.7)(0.5)(2.2)
Segment profit(3)
$308.3 $250.9 $559.2 
Six months ended June 30, 2025
Net sales(1)
$1,730.7 $842.8 $2,573.5 
Cost of goods sold1,171.6 542.6 1,714.2 
Selling, general and administrative
189.8 121.5 311.3 
Other income(2)
(6.6)(0.7)(7.3)
Segment profit(3)
$375.9 $179.4 $555.3 

(1) On a consolidated basis, no revenue from transactions with a single customer were 10% or greater of our consolidated net sales for any of the periods presented.

(2) Other (income) expense is primarily comprised of income from equity method investments and (gains) losses and other expenses, net.

(3) We define segment profit as a segment's operating income included in the accompanying Consolidated Statements of Operations, excluding:
•Restructuring charges, and
•Loss (gain) on sale from previous dispositions.

The reconciliations of segment profit to Operating income and Net income before income taxes are presented below (in millions):
 For the Three Months Ended June 30,For the Six Months Ended June 30,
 2026202520262025
Total segment profit(1)
$377.1 $372.6 $559.2 $555.3 
Reconciliation to Operating income:
Restructuring charges
— — — — 
Gain on sale from previous dispositions— — — — 
Corporate and other expenses(2)
(22.1)(23.6)(40.7)(38.3)
Operating income355.0 349.0 518.5 517.0 
Reconciliation to net income before income taxes:
Pension settlements0.1 0.1 0.6 0.2 
Interest expense, net14.7 8.3 29.9 14.5 
Other expense, net0.6 0.6 1.5 1.5 
Net income before income taxes$339.6 $340.0 $486.5 $500.8 

(1) We define segment profit as a segment's operating income (loss) included in the accompanying Consolidated Statements of Operations, excluding:
•Restructuring charges, and
•Loss (gain) on sale from previous dispositions.
(2) Corporate and other expenses include unallocated corporate costs related to corporate administrative functions such as tax, treasury, accounting, internal audit, legal and human resources.
Reconciliation of Assets from Segment to Consolidated
Total assets by segment are shown below (in millions) as of:
June 30, 2026December 31, 2025
Total Assets:
Home Comfort Solutions$2,230.0 $1,971.0 
Building Climate Solutions1,902.8 1,746.4 
Total assets from reportable segments$4,132.8 $3,717.4 
Corporate and Other412.2 364.4 
Total assets$4,545.0 $4,081.8 
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country Property, plant and equipment, net for each major geographic area in which we operate, based on the domicile of our operations, are shown below (in millions) as of:
June 30, 2026December 31, 2025
Property, Plant and Equipment, net:
United States$655.7 $607.4 
Mexico269.1 269.2 
Canada3.9 4.2 
Other international5.5 6.4 
Total Property, plant and equipment, net$934.2 $887.2 
Segment, Reconciliation of Other Items from Segments to Consolidated
Total capital expenditures by segment are shown below (in millions):
For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
Capital Expenditures:
Home Comfort Solutions$10.1 $11.8 $25.2 $23.2 
Building Climate Solutions16.4 6.2 23.9 12.5 
Total capital expenditures from reportable segments$26.5 $18.0 $49.1 $35.7 
Corporate and Other9.2 10.5 42.1 18.3 
Total capital expenditures $35.7 $28.5 $91.2 $54.0 


Depreciation and amortization expenses by segment are shown below (in millions):
For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
Depreciation and Amortization:
Home Comfort Solutions$13.0 $11.5 $23.7 $21.9 
Building Climate Solutions12.3 8.0 24.0 15.9 
Total depreciation and amortization from reportable segments$25.3 $19.5 $47.7 $37.8 
Corporate and Other7.3 7.3 14.1 14.6 
Total depreciation and amortization$32.6 $26.8 $61.8 $52.4 

The income from equity method investments is shown below (in millions):
For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
(Loss) Income from Equity Method Investments:
Home Comfort Solutions$(0.4)$1.7 $0.8 $2.4 
Building Climate Solutions(0.2)0.4 (0.2)0.8 
Total (loss) income from equity method investments from reportable segments$(0.6)$2.1 $0.6 $3.2 
Corporate and Other1.6 — — 0.1 
Total income from equity method investments$1.0 $2.1 $0.6 $3.3