Name: Carrier Global Corp. (NYSE:CARR) | Liabilities and Stockholders’ Equity (Quarterly)
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Carrier Global Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Accounts payable	2,926)	2,833)	2,817)	2,403)	2,519)	2,334)	2,158)	2,362)	2,175)	1,936)	2,019)	1,765)	1,776)
Accrued liabilities	2,374)	2,610)	2,537)	2,430)	2,330)	2,561)	2,260)	2,541)	2,265)	2,471)	2,445)	2,246)	1,972)
Contract liabilities, current	516)	449)	440)	444)	426)	415)	418)	576)	545)	512)	495)	477)	485)
Liabilities held for sale	—)	—)	—)	—)	—)	1,134)	1,102)	—)	—)	—)	—)	—)	—)
Current portion of long-term debt	142)	140)	219)	269)	256)	183)	130)	125)	153)	191)	223)	301)	218)
Current liabilities	5,958)	6,032)	6,013)	5,546)	5,531)	6,627)	6,068)	5,604)	5,138)	5,110)	5,182)	4,789)	4,451)
Long-term debt, net of current portion	8,708)	8,702)	8,670)	8,298)	8,305)	9,513)	9,558)	9,600)	9,577)	10,036)	11,751)	11,728)	11,029)
Future pension and post-retirement obligations	354)	349)	431)	366)	376)	380)	416)	511)	507)	524)	473)	462)	456)
Future income tax obligations	581)	568)	522)	335)	366)	354)	331)	556)	477)	479)	471)	445)	1,161)
Long-term operating lease liabilities	506)	529)	514)	490)	491)	527)	515)	635)	621)	642)	676)	688)	708)
Other long-term liabilities	1,836)	1,830)	1,737)	1,635)	1,694)	1,677)	1,678)	1,712)	1,730)	1,724)	1,738)	1,698)	1,170)
Long-term liabilities	11,985)	11,978)	11,874)	11,124)	11,232)	12,451)	12,498)	13,014)	12,912)	13,405)	15,109)	15,021)	14,524)
Total liabilities	17,943)	18,010)	17,887)	16,670)	16,763)	19,078)	18,566)	18,618)	18,050)	18,515)	20,291)	19,810)	18,975)
UTC Net investment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	4,433)
Common stock	9)	9)	9)	9)	9)	9)	9)	9)	9)	9)	9)	9)	—)
Treasury stock	(1,972)	(1,910)	(1,791)	(1,543)	(1,270)	(529)	(276)	(130)	(38)	—)	—)	—)	—)
Additional paid-in capital	5,494)	5,481)	5,463)	5,441)	5,415)	5,411)	5,384)	5,366)	5,350)	5,345)	5,327)	5,307)	—)
Retained earnings	6,239)	5,866)	5,876)	4,564)	4,244)	2,865)	2,774)	2,305)	2,027)	1,643)	932)	191)	—)
Accumulated other comprehensive loss	(1,636)	(1,688)	(2,405)	(1,775)	(1,297)	(989)	(991)	(794)	(859)	(745)	(1,172)	(1,479)	(1,736)
Equity attributable to common shareowners	8,134)	7,758)	7,152)	6,696)	7,101)	6,767)	6,900)	6,756)	6,489)	6,252)	5,096)	4,028)	2,697)
Non-controlling interest	334)	318)	311)	296)	329)	327)	322)	364)	329)	326)	341)	338)	329)
Total equity	8,468)	8,076)	7,463)	6,992)	7,430)	7,094)	7,222)	7,120)	6,818)	6,578)	5,437)	4,366)	3,026)
Total liabilities and equity	26,411)	26,086)	25,350)	23,662)	24,193)	26,172)	25,788)	25,738)	24,868)	25,093)	25,728)	24,176)	22,001)

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

The overall capital structure exhibits a strategic shift toward deleveraging and a significant strengthening of the equity base between March 2020 and March 2023. Total liabilities decreased from 18,975 million USD to 17,943 million USD, while total equity grew substantially from 3,026 million USD to 8,468 million USD.

Current Liabilities and Short-Term Obligations: Current liabilities demonstrate a general upward trajectory, rising from 4,451 million USD in March 2020 to 5,958 million USD by March 2023. This increase is primarily driven by a consistent rise in accounts payable, which grew from 1,776 million USD to 2,926 million USD over the period. Accrued liabilities also showed growth, though with more volatility, ending at 2,374 million USD. The current portion of long-term debt remained relatively low and stable, fluctuating between a high of 301 million USD and a low of 125 million USD.
Long-Term Debt and Non-Current Liabilities: A significant reduction in long-term debt is observed. Long-term debt, net of current portions, peaked at 11,751 million USD in September 2020 before declining to 8,708 million USD by March 2023. This downward trend contributed to the overall decrease in total long-term liabilities, which fell from 14,524 million USD to 11,985 million USD. Other long-term liabilities remained relatively stable, though they increased slightly from 1,170 million USD to 1,836 million USD over the analyzed timeframe.
Equity Evolution and Retained Earnings: Total equity experienced robust growth, increasing from 3,026 million USD to 8,468 million USD. The primary driver of this expansion was the growth in retained earnings, which rose sharply from 191 million USD in June 2020 to 6,239 million USD in March 2023. This suggests strong internal capital generation. Simultaneously, the company engaged in aggressive share repurchases, as evidenced by treasury stock increasing from a negative value of 38 million USD in March 2021 to 1,972 million USD by March 2023.
Comprehensive Loss and Non-Controlling Interests: Accumulated other comprehensive loss showed significant volatility, reaching a peak deficit of 2,405 million USD in September 2022 before recovering to 1,636 million USD by March 2023. Non-controlling interests remained stable throughout the period, fluctuating within a narrow range between 296 million USD and 364 million USD.

The financial trajectory indicates a transition toward a more conservative balance sheet. The simultaneous reduction in long-term debt and the accumulation of retained earnings suggest an improved solvency position and an increased capacity for self-funding operations and shareholder returns through buybacks.

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Carrier Global Corp. (NYSE:CARR)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data