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Discontinued Operations
 12 Months Ended
Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure DISCONTINUED OPERATIONSAs discussed above, on April 3, 2020 UTC separated into three independent, publicly traded companies – UTC, Carrier and Otis and distributed all of the outstanding common stock of Carrier and Otis to UTC shareowners who held shares of UTC common stock as of the close of business on March 19, 2020.
Carrier and Otis are presented as discontinued operations and, as such, have been excluded from both continuing operations and segment results for all periods presented. Income (loss) from discontinued operations is as follows:
(dollars in millions)202120202019
Otis$— $187 $1,033 
Carrier— 196 1,698 
Separation related and other discontinued operations transactions(33)(793)(704)
Income (loss) from discontinued operations attributable to common shareowners$(33)$(410)$2,027 

The following summarized financial information related to discontinued operations has been reclassified from Income from continuing operations and included in Income (loss) from discontinued operations:
(dollars in millions)202120202019
Otis
Products sales$— $1,123 $5,669 
Services sales— 1,843 7,444 
Cost of sales - products— 913 4,656 
Cost of sales - services— 1,157 4,635 
Research and development— 38 163 
Selling, general and administrative expense— 450 1,906 
Other income (expense), net— (65)(40)
Non-operating expense (income), net— 3 4 
Income from discontinued operations, before income taxes— 340 1,709 
Income tax expense— 116 525 
Income from discontinued operations— 224 1,184 
Less: Noncontrolling interest in subsidiaries earnings from discontinued operations— 37 151 
Income from discontinued operations attributable to common shareowners$— $187 $1,033 
Carrier
Products sales$— $3,143 $15,337 
Services sales— 741 3,247 
Cost of sales - products— 2,239 10,878 
Cost of sales - services— 527 2,298 
Research and development— 98 400 
Selling, general and administrative expense— 669 2,888 
Other income (expense), net— (30)246 
Non-operating expense (income), net— 17 (43)
Income from discontinued operations, before income taxes— 304 2,409 
Income tax expense— 102 672 
Income from discontinued operations— 202 1,737 
Less: Noncontrolling interest in subsidiaries earnings from discontinued operations— 6 39 
Income from discontinued operations attributable to common shareowners$— $196 $1,698 
Separation related and other discontinued operations transactions(1)
Selling, general and administrative expense$10 $151 $16 
Other income (expense), net— (709)(11)
Loss from discontinued operations, before income taxes(10)(860)(27)
Income tax (benefit) expense23 (67)677 
Loss from discontinued operations, net of tax(33)(793)(704)
Total income (loss) from discontinued operations attributable to common shareowners$(33)$(410)$2,027 
(1)    Reflects unallocable transaction costs incurred by the Company primarily related to professional services costs pertaining to the Separation Transactions and the establishment of Carrier and Otis as stand-alone public companies, facility relocation costs, costs to separate information systems, costs of retention bonuses and tax charges and benefits related to separation activities. In addition, 2020 includes debt extinguishment costs related to the Company’s paydown of debt to not exceed the maximum applicable net indebtedness under the Raytheon Merger Agreement.
Selected financial information related to cash flows from discontinued operations is as follows:
(dollars in millions)202120202019
Net cash (used in) provided by operating activities$(71)$(728)$3,062 
Net cash used in investing activities— (241)(416)
Net cash provided by (used in) financing activities71 (1,414)(2,651)
Net cash (used in) provided by operating activities includes the net operating cash flows of Carrier and Otis prior to the Separation Transactions, as well as costs incurred by the Company primarily related to professional services costs pertaining to the Separation Transactions and the establishment of Carrier and Otis as stand-alone public companies, facility relocation costs, costs to separate information systems, costs of retention bonuses and tax charges related to separation activities. Net cash used in financing activities primarily consists of net cash transfers from Carrier and Otis to the Company, as well as debt extinguishment costs related to the early repayment of debt in 2020.
The Separation of Carrier was treated as a return on capital and recorded as a reduction to retained earnings, as it was in a net asset position, while the Separation of Otis was treated as a return of capital and recorded as an adjustment to Common stock, as it was in a net liability position.