Carrier Global Corporation

NYSE-CARR

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	4,094	4,120	5,856	5,708	3,578	3,478
Net Earnings
Depreciation & Amortization	1,263	1,250	1,227	1,232	1,037	820
Depreciation and Amortization
Stock Based Compensation	76	90	90	86	81	71
Stock-Based Compensation Costs
Other Adjustments	-3,538	-3,315	-4,965	-5,483	-2,516	-2,576
Discontinued Operations, Net of Tax
Deferred Income Tax Provision
Equity Method Investment Net Earnings
Impairment Charge on Minority-Owned Joint Venture Investments
Gain on Extinguishment of Debt
Gain on Sale of Investments
Changes in Trade Receivables	-395	-510	-221	-40	-17	13
Accounts Receivable, Net
Changes in Inventories	-312	-127	74	292	271	189
Inventories, Net
Changes in Accounts Payable	515	463	714	87	-339	423
Accounts Payable and Accrued Liabilities
Changes in Unearned Revenue	—	—	—	—	—	—
Contract Liabilities
Changes in Other Operating Activities	-270	-175	-352	-311	110	126
Contract Assets
Change in Other Current Assets
Defined Benefit Plan Contributions
Distributions from Equity Method Investments
Other Operating Activities, Net
Cash from Operating Activities	1,605	995	1,006	563	1,493	2,803
Net Cash Flows Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-478	-453	-480	-519	-524	-505
Capital Expenditures
Proceeds from Sale of Investments	—	—	—	—	—	—
Proceeds on Sale of Investments
Payments for Business Acquisitions	-109	-172	-130	-10,890	-10,888	-10,807
Investment in Businesses, Net of Cash Acquired
Proceeds from Business Divestments	646	963	—	634	—	—
Dispositions of Businesses
Other Investing Activities	19	-8	-7	-250	-139	-195
Settlement of Derivative Contracts, Net
Payment to Former Shareholders of TCC
Other Investing Activities, Net
Cash from Investing Activities	2,892	4,170	9,033	-2,025	-5,343	-6,637
Net Cash Flows Provided by Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	400	-14	-19	50	59	21
Change in Short-Term Borrowings, Net
Net Issuance / (Repayments) of Short-Term Debt	400	-14	-19	50	59	21
Issuance of Long-Term Debt	858	872	873	3,412	8,181	8,158
Issuance of Long-Term Debt
Repayments of Long-Term Debt	-2,024	-3,011	-6,545	-5,345	-4,626	-3,641
Repayment of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	-1,166	-2,139	-5,672	-1,933	3,555	4,517
Repurchases of Common Shares	-3,926	-3,572	—	-1,944	—	—
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-3,926	-3,572	—	-1,944	—	—
Common Share Dividends Paid	-739	-730	-709	-670	-669	-641
Dividends Paid on Common Stock
Other Financing Activities	-126	-59	-109	-114	-148	-150
Dividends Paid to Non-Controlling Interest
Net Transfers to UTC
Other Financing Activities, Net
Cash from Financing Activities	-5,571	-6,524	-9,762	-4,636	2,350	3,712
Net Cash Flows Provided by Financing Activities