For the year ending 2025-12-31, CARR had -$2,390M decrease in cash & cash equivalents over the period. $2,121M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net earnings (loss) | 1,587 | 5,708 | 1,440 | - |
| Discontinued operations, net of tax | 29 | 4,496 | - | - |
| Depreciation and amortization | 1,274 | 1,232 | 542 | - |
| Deferred income tax provision | -401 | -352 | -233 | - |
| Stock-based compensation cost | 74 | 86 | 81 | - |
| Equity method investment net earnings | 229 | 231 | 211 | - |
| Impairment charge on minority-owned joint venture investments | - | - | 0 | - |
| (gain) loss on extinguishment of debt | 0 | 82 | 0 | - |
| (gain) loss on sale of investments / deconsolidation | 32 | 322 | -278 | - |
| Accounts receivable, net | 98 | 40 | 148 | - |
| Contract assets, current | - | - | -93 | - |
| Inventories, net | 81 | -292 | -237 | - |
| Other assets, current | - | - | 117 | - |
| Accounts payable and accrued liabilities | -219 | 87 | 477 | - |
| Contract liabilities, current | - | - | 74 | - |
| Defined benefit plan contributions | - | - | 33 | - |
| Distributions from equity method investments | 201 | 46 | 129 | - |
| Other operating activities, net | -42 | 357 | 2 | - |
| Net cash flows provided by (used in) continuing operating activities | 2,089 | 1,571 | - | - |
| Net cash flows provided by (used in) discontinued operating activities | 424 | -1,008 | - | - |
| Net cash flows provided by (used in) operating activities | 2,513 | 563 | 2,607 | - |
| Capital expenditures | 392 | 519 | 469 | - |
| Proceeds on sale of investments | - | - | 0 | - |
| Investment in businesses, net of cash acquired | 107 | 10,890 | 84 | - |
| Dispositions of businesses | 27 | 634 | 54 | - |
| Settlement of derivative contracts, net | -105 | 264 | 50 | - |
| Payment to former shareholders of tcc | - | 0 | 0 | - |
| Kidde-fenwal, inc. deconsolidation | - | - | 134 | - |
| Other investing activities, net | -24 | -14 | -23 | - |
| Net cash flows provided by (used in) continuing investing activities | -343 | -11,025 | - | - |
| Net cash flows provided by (used in) discontinued investing activities | 36 | 9,000 | - | - |
| Net cash flows provided by (used in) investing activities | -307 | -2,025 | -660 | - |
| (decrease) increase in short-term borrowings, net | 275 | 50 | -15 | - |
| Issuance of long-term debt | 48 | 3,412 | 5,609 | - |
| Repayment of long-term debt | 1,212 | 5,345 | 111 | - |
| Repurchases of common stock | 2,892 | 1,944 | 62 | - |
| Dividends paid on common stock | 772 | 670 | 620 | - |
| Dividends paid to non-controlling interest | 101 | 84 | 58 | - |
| Other financing activities, net | -18 | -30 | -131 | - |
| Net cash flows provided by (used in) continuing financing activities | -4,672 | -4,611 | - | - |
| Net cash flows provided by (used in) discontinued financing activities | 0 | -25 | - | - |
| Net cash flows provided by (used in) financing activities | -4,672 | -4,636 | 4,612 | - |
| Effect of foreign exchange rate changes on cash and cash equivalents | 76 | -103 | 88 | - |
| Net increase (decrease) in cash and cash equivalents and restricted cash, including cash classified in current assets held for sale | -2,390 | -6,201 | 6,647 | 501 |
| Cash and cash equivalents at beginning of period | - | - | - | 3,026 |
| Cash and cash equivalents at end of period | - | - | - | 3,527 |
CARRIER GLOBAL Corp (CARR)
CARRIER GLOBAL Corp (CARR)