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Below are the financial statements of Otis Worldwide, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
Below are the financial statements of Otis Worldwide, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net sales | — | — | — |
| Product sales | 5,367a | 5,812a | 5,864a |
| Service sales | 8,894a | 8,397a | 7,821a |
| Costs and expenses | — | — | — |
| Cost of products sold | -4,459a | -4,843a | -4,949a |
| Cost of services sold | -5,545a | -5,173a | -4,816a |
| Research and development | -152a | -144a | -150a |
| Selling, general and administrative | -1,861a | -1,884a | -1,763a |
| Other income (expense), net | -236a | 21a | 26a |
| Operating profit | 2,008a | 2,186a | 2,033a |
| Non-service pension cost (benefit) | 0a | 5a | 2a |
| Interest expense (income), net | -31a | 150a | 143a |
| Net income before income taxes | 2,039a | 2,031a | 1,888a |
| Income tax expense | -305a | -533a | -519a |
| Net income | 1,734a | 1,498a | 1,369a |
| Less: noncontrolling interest in subsidiaries' earnings | 89a | 92a | 116a |
| Net income attributable to Otis Worldwide Corporation | 1,645a | 1,406a | 1,253a |
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