Stock Analysis on Net
Stock Analysis on Net

Carrier Global Corp. (NYSE:CARR)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 26, 2023.

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

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Carrier Global Corp., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: 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
Net income from operations
Depreciation and amortization
Deferred income tax provision
Stock-based compensation costs
Equity method investment net earnings
Impairment charge on minority-owned joint venture investments
Gain on extinguishment of debt
(Gain) loss on sale of investments
Accounts receivable, net
Contract assets, current
Inventories, net
Other assets, current
Accounts payable and accrued liabilities
Contract liabilities, current
Changes in operating assets and liabilities
Defined benefit plan contributions
Distributions from equity method investments
Other operating activities, net
Adjustments to reconcile net income to net cash flows from operating activities
Net cash flows provided by (used in) operating activities
Capital expenditures
Investment in businesses, net of cash acquired
Dispositions of businesses
Proceeds on sale of investments
Settlement of derivative contracts, net
Payment to former shareholders of TCC
Other investing activities, net
Net cash flows (used in) provided by investing activities
Increase (decrease) in short-term borrowings, net
Issuance of long-term debt
Repayment of long-term debt
Repurchases of common stock
Dividends paid on common stock
Dividends paid to non-controlling interest
Net transfers to UTC
Other financing activities, net
Net cash flows provided by (used in) financing activities
Effect of foreign exchange rate changes on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents and restricted cash, including cash classified in current assets held for sale
Change in cash balances classified as assets held for sale
Net increase (decrease) in cash and cash equivalents and restricted cash

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 financial data reveals multiple fluctuations in Carrier Global Corp.'s operational performance, asset management, and cash flow activities over the analyzed quarters.

Net Income from Operations
There is notable volatility in net income from operations, with spikes in March 2022 (1,387 million USD) and September 2022 (1,332 million USD), contrasting with lower figures such as March 2020 (102 million USD) and December 2022 (278 million USD). This suggests periods of strong profitability punctuated by more modest earnings.
Depreciation and Amortization
Depreciation and amortization expenses exhibit a gradual upward trend, rising from 81 million USD in March 2020 to 136 million USD by March 2023, indicating increased capital asset bases or changes in asset composition.
Deferred Income Tax Provision
The deferred income tax provision fluctuates significantly, with both positive and negative values, indicating variable tax adjustments possibly related to timing differences in income recognition or tax planning strategies.
Stock-based Compensation Costs
These costs remain relatively stable, fluctuating slightly between 13 million USD and 32 million USD, without a clear directional trend.
Equity Method Investment Net Earnings
Equity earnings consistently show negative values, ranging mostly between -29 million USD and -101 million USD, reflecting ongoing losses or write-downs in equity method investments.
Impairment Charge on Minority-Owned Joint Venture Investments
This charge occurs only in select early periods, with a significant 71 million USD recorded in March 2020, and minor amounts thereafter, after which it appears absent.
Gains and Losses on Sales and Extinguishments
The company realizes notable gains on sales of investments, particularly -252 million USD in September 2020 and -1,112 million USD in March 2022 (negative values denote gains). Conversely, a one-time loss on extinguishment of debt is recorded in December 2021 (-36 million USD).
Operating Assets and Liabilities
Accounts receivable and contract assets show erratic changes with alternating increases and decreases, indicating variable customer receipts and contract work progress. Inventories likewise fluctuate, with significant decreases in some quarters and increases in others, suggesting inventory management challenges or shifts in production cycles.
Accounts Payable and Contract Liabilities
Accounts payable and accrued liabilities also display irregular movements, with large positive changes in some periods (e.g., 377 million USD in September 2020) and negative in others, pointing to shifting payment schedules. Contract liabilities remain relatively low, with minor fluctuations.
Changes in Operating Assets and Liabilities
These changes indicate high variability, including sizable negative values, such as -621 million USD in March 2022 and positive swings like 579 million USD in December 2022, reflecting substantial working capital changes over time.
Cash Flow from Operating Activities
Net cash provided by operating activities generally reflects positive cash generation, with peaks in December 2022 (1,123 million USD) and September 2022 (790 million USD). However, several quarters report negative figures, notably March 2022 (-202 million USD), implying occasional operating cash flow pressures.
Capital Expenditures
Capital expenditures vary widely, from as low as 46 million USD to as high as 161 million USD, with no distinct trend but often rising in quarters with stronger operational results.
Investing Activities
Investing cash flows show significant volatility, including a substantial inflow of 2,820 million USD in March 2022 primarily due to dispositions. Other quarters show negative cash flows reflecting business investments and acquisitions.
Financing Activities
Financing cash flows fluctuate dramatically, with large positive inflows (1,391 million USD in June 2020) driven largely by long-term debt issuance (notably 10,961 million USD in March 2020) and substantial outflows due to debt repayment and stock repurchases, particularly after 2020. Dividends payments also show an increasing trend, peaking at 154 million USD in March 2023.
Cash and Cash Equivalents
Cash flows overall reflect considerable swings, with large increases in some quarters (e.g., 1,936 million USD in June 2020) followed by declines in others, indicating the company’s active cash management amid capital activities and working capital needs.

In summary, the data illustrates a company experiencing variable profitability and cash flows, actively managing its investment and financing activities including significant debt issuance and repayment cycles, as well as ongoing capital expenditures. Working capital components and tax provisions fluctuate, highlighting dynamic operational and financial conditions over the period analyzed.