Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

A summary of the changes in each component of Accumulated other comprehensive income (loss), net of tax, for the years ended December 31, 2023, 2022 and 2021 is provided below:

(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Postretirement Plans		Unrealized Hedging Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2020	$	(616)	$	(203)	$	4	$	(815)
Other comprehensive income (loss) before reclassifications, net	(26)		62		(1)		35
Amounts reclassified, pre-tax	—		18		4		22
Tax expense (benefit) reclassified	—		(5)		—		(5)
Balance as of December 31, 2021	$	(642)	$	(128)	$	7	$	(763)
Other comprehensive income (loss) before reclassifications, net	47		113		(3)		157
Amounts reclassified upon change in Otis' share of Zardoya Otis ownership (Note 1)	(69)		—		—		(69)
Amounts reclassified, pre-tax	77		10		(1)		86
Tax expense (benefit) reclassified	—		(3)		—		(3)
Balance as of December 31, 2022	$	(587)	$	(8)	$	3	$	(592)
Other comprehensive income (loss) before reclassifications, net	(87)		(69)		6		(150)
Amounts reclassified, pre-tax	1		(1)		(8)		(8)
Tax expense (benefit) reclassified	—		—		—		—
Balance as of December 31, 2023	$	(673)	$	(78)	$	1	$	(750)