Business Summary

Business Outlook & Financial Sufficiency

Management Sentiments & Priorities

Risk Factors

References

1. [1] "We serve customers in over 200 countries and territories around the world. Otis has global scale and local focus, with more than 1,400 branches and offices, and a direct physical presence in more than 70 countries." — Item 1, Business — Our Company
2. [2] "According to industry estimates, there are hundreds of participants that offer New Equipment solutions and several thousand participants that offer maintenance and service solutions." — Item 1, Business — Competition
3. [3] "In both the New Equipment and Service segments, major competitors globally include KONE Oyj, Schindler Group and TK Elevator, while there are a number of additional competitors in the Asia Pacific region. Competitive dynamics vary significantly by segment and geography. In the Service segment, independent service providers and other small operators are significant competitors in most of our local geographies." — Item 1, Business — Competition
4. [4] "We believe our global presence, local relationships and proven track record in executing complex elevator and escalator solutions contribute to our iconic brand, reputation and competitive position in the industry." — Item 1, Business — Competition
5. [5] "Our New Equipment customers include real estate and building developers and general contractors who develop and/or design buildings for residential, commercial, retail or mixed-use activity. We also sell New Equipment to government agencies, particularly, to support infrastructure projects, such as airports, railways or metros." — Item 1, Business — New Equipment
6. [6] "Service customers typically comprise building owners, facility managers, housing associations and government agencies that operate buildings where elevators and escalators are installed." — Item 1, Business — Service
7. [7] "We seek to grow our maintenance portfolio through conversion of newly installed units into maintenance contracts, through prospecting and winning units already in service from customers using another service provider and through acquisitions." — Item 1, Business — Service
8. [8] "Our Company is organized into two segments, New Equipment and Service, which, for 2025, contributed 35% and 65% of our net sales, and 9% and 91% of our segment operating profit, respectively." — Item 1, Business — Description of Business by Segment
9. [9] "Through our New Equipment segment, we design, manufacture, sell and install a wide range of passenger and freight elevators, as well as escalators and moving walkways for residential, commercial and infrastructure projects." — Item 1, Business — New Equipment
10. [10] "We have developed a range of elevator and escalator solutions to meet the varying needs and objectives of our diverse customers, primarily centered around the following elevator platforms: Gen2, Gen3, Gen360 and SkyRise." — Item 1, Business — New Equipment
11. [11] "Gen2 has been our principal low-and mid-rise elevator solution. Since its launch in 2000, we have sold over one million units, making it our best-selling elevator platform." — Item 1, Business — New Equipment
12. [12] "The successor to the Gen2 family of elevators, the Gen3 platform enhances the space-saving, energy-efficient design of the Gen2 elevator with the connectivity of the Otis ONE IoT (Internet of Things) digital service platform, while offering additional safety features for passengers and our colleagues who maintain the elevator." — Item 1, Business — New Equipment
13. [13] "The Gen360 elevator frees hoistway space to accommodate larger cabins and features a new electronic architecture, with many mechanical components replaced by electronic components that, when combined with our service, increase reliability and reduce the potential for entrapments. ... With optional 360-degree cameras in the hoistway, Otis service teams can visually confirm, fine-tune, diagnose and solve many issues remotely without stopping the elevator." — Item 1, Business — New Equipment
14. [14] "For taller, high-rise buildings, the SkyRise advanced elevator platform combines cutting-edge technologies and precision engineering to deliver solutions for residential, commercial and mixed-use skyscrapers." — Item 1, Business — New Equipment
15. [15] "Our smart design and features enhance sustainability and passenger safety, such as sensor-equipped escalators and moving walkways that efficiently run only when passengers approach, or operate at reduced speeds to conserve energy when there are no riders." — Item 1, Business — New Equipment
16. [16] "Our Company is organized into two segments, New Equipment and Service, which, for 2025, contributed 35% and 65% of our net sales, and 9% and 91% of our segment operating profit, respectively." — Item 1, Business — Description of Business by Segment
17. [17] "Through our Service segment, we perform maintenance and repair services, as well as modernization services to upgrade elevators and escalators. We have a maintenance portfolio of approximately 2.5 million units globally, which includes Otis equipment manufactured and sold by us, as well as equipment from other original equipment manufacturers." — Item 1, Business — Service
18. [18] "Our services include inspections, preventive maintenance offerings and other customized maintenance offerings tailored to meet customer needs. A basic maintenance contract provides for inspection consistent with local regulatory needs. We offer incremental, tiered maintenance and service offerings, with varying levels of coverage up to and including comprehensive component replacement coverage." — Item 1, Business — Service
19. [19] "As equipment ages, we work with customers to help renew and refresh their elevators and escalators through modernization solutions that enhance operational performance, improve overall building functionality, and support more sustainable building systems. Modernization offerings range from relatively simple upgrades of interior finishes and aesthetics to complex upgrades of larger components and sub-systems, including the machine, ropes or belts, safety systems and the entire car or escalator." — Item 1, Business — Service
20. [20] "Otis ONE is our latest cloud-based IoT technology, designed to continuously monitor equipment health and performance in real time to provide proactive, predictive and transparent information to our technicians and customers." — Item 1, Business — Digital Technology initiatives
21. [21] "As of December 31, 2025, approximately 1.1 million units of our global portfolio, including units under the warranty period, are connected." — Item 1, Business — Digital Technology initiatives
22. [22] "Net sales $ 14,431" — Item 8, Consolidated Statements of Operations
23. [23] "Product sales $ 4,989" — Item 8, Consolidated Statements of Operations
24. [24] "Service sales 9,442" — Item 8, Consolidated Statements of Operations
25. [25] "Cost of products sold 4,182" — Item 8, Consolidated Statements of Operations
26. [26] "Cost of services sold 5,879" — Item 8, Consolidated Statements of Operations
27. [27] "Gross margin $ 4,370" — Item 7, MD&A — Gross Margin
28. [28] "Gross margin percentage 30.3 %" — Item 7, MD&A — Gross Margin
29. [29] "Operating profit 2,133" — Item 8, Consolidated Statements of Operations
30. [30] "Total $ 14,431 $ 14,261 $ 14,209 $ 2,133 $ 2,008 $ 2,186 14.8 % 14.1 % 15.4 %" — Item 7, MD&A — Segment Review (Operating Profit Margin for Total Company)
31. [31] "Net income attributable to Otis Worldwide Corporation $ 1,384" — Item 8, Consolidated Statements of Operations
32. [32] "Diluted $ 3.50" — Item 8, Consolidated Statements of Operations
33. [33] "Basic $ 3.52" — Item 8, Consolidated Statements of Operations
34. [34] "Net cash flows provided by operating activities $ 1,596" — Item 8, Consolidated Statements of Cash Flows
35. [35] "Cash and cash equivalents $ 1,096" — Item 8, Consolidated Balance Sheets
36. [36] "Total debt 7,956" — Item 7, MD&A — Liquidity and Financial Condition
37. [37] "Net debt (total debt less cash and cash equivalents) 6,860" — Item 7, MD&A — Liquidity and Financial Condition
38. [38] "Percentage change year-over-year 1 %" — Item 7, MD&A — Net Sales
39. [39] "Organic volume 5 %" — Item 7, MD&A — Service (Net sales change for Service)
40. [40] "Organic volume (7) %" — Item 7, MD&A — New Equipment (Net sales change for New Equipment)
41. [41] "Foreign currency translation 1 %" — Item 7, MD&A — Net Sales (Factors contributing to total percentage change)
42. [42] "Gross margin percentage increased 40 basis points in 2025 compared to 2024" — Item 7, MD&A — Gross Margin
43. [43] "Gross margin percentage 30.3 %" — Item 7, MD&A — Gross Margin
44. [44] "primarily due to the increase in Service sales and decrease in New Equipment sales and the benefits from productivity, partially offset by the inflationary pressures described above." — Item 7, MD&A — Gross Margin
45. [45] "Net sales $ (378) (7) %" — Item 7, MD&A — New Equipment (Total Increase (Decrease) Year-Over-Year for 2025 compared with 2024)
46. [46] "Net sales $ (378) (7) %" — Item 7, MD&A — New Equipment (Total Increase (Decrease) Year-Over-Year for 2025 compared with 2024)
47. [47] "Net sales $ 548 6 %" — Item 7, MD&A — Service (Total Increase (Decrease) Year-Over-Year for 2025 compared with 2024)
48. [48] "Net sales $ 548 6 %" — Item 7, MD&A — Service (Total Increase (Decrease) Year-Over-Year for 2025 compared with 2024)
49. [49] "Operating profit $ (89) (27) %" — Item 7, MD&A — New Equipment (Total Increase (Decrease) Year-Over-Year for 2025 compared with 2024)
50. [50] "Operating margin decreased 130 basis points." — Item 7, MD&A — New Equipment (2025 Compared with 2024)
51. [51] "Operating profit $ 189 9 %" — Item 7, MD&A — Service (Total Increase (Decrease) Year-Over-Year for 2025 compared with 2024)
52. [52] "Operating margin increased 50 basis points." — Item 7, MD&A — Service (2025 Compared with 2024)
53. [53] "Selling, general and administrative expenses increased $118 million in 2025 compared to 2024" — Item 7, MD&A — Selling, General and Administrative
54. [54] "driven by higher restructuring costs, annual wage increases, other employment-related costs and the impact from foreign exchange, partially offset by savings resulting from UpLift." — Item 7, MD&A — Selling, General and Administrative
55. [55] "UpLift restructuring costs were $76 million" — Item 7, MD&A — Restructuring Costs
56. [56] "We also incurred $69 million ... of UpLift transformation costs in 2025" — Item 7, MD&A — Restructuring Costs
57. [57] "UpLift transformation costs are primarily for consultants, third-party service providers and personnel focused on designing and implementing a centralized service delivery model that supports our new organizational structure, including the standardization of our supply chain and digital technology procurement." — Item 7, MD&A — Restructuring Costs
58. [58] "Total UpLift costs incurred to date are $282 million" — Item 7, MD&A — UpLift
59. [59] "including $132 million of restructuring costs" — Item 7, MD&A — UpLift
60. [60] "and $150 million of transformation costs." — Item 7, MD&A — UpLift
61. [61] "Other restructuring action costs were $54 million in 2025" — Item 7, MD&A — Restructuring Costs
62. [62] "included $36 million of costs related to 2025 actions" — Item 7, MD&A — Restructuring Costs
63. [63] "and $18 million of costs related to 2024 actions." — Item 7, MD&A — Restructuring Costs
64. [64] "In October 2025, we purchased all of the outstanding shares of Otis Electric Elevator Company Limited ("Otis Electric") from the noncontrolling shareholder for approximately $215 million" — Item 8, Note 1 — Acquisitions of Noncontrolling Interests
65. [65] "($80 million from Cash" — Item 8, Note 1 — Acquisitions of Noncontrolling Interests
66. [66] "and $135 million from borrowings)." — Item 8, Note 1 — Acquisitions of Noncontrolling Interests
67. [67] "Otis Electric is now 100 % owned by our joint venture Otis Elevator (China) Investment Company Limited ("Otis China") and one of its subsidiaries." — Item 8, Note 1 — Acquisitions of Noncontrolling Interests
68. [68] "Separation-related adjustments 70" — Item 7, MD&A — Corporate and Unallocated
69. [69] "Litigation-related settlement costs 21" — Item 7, MD&A — Corporate and Unallocated
70. [70] "Litigation-related settlement costs in 2025 and 2024 represent the aggregate amount of settlement costs and increase in loss contingency accruals, excluding legal costs, for certain legal matters that are outside of the ordinary course of business due to the size, complexity and unique facts of these matters." — Item 8, Note 21 — Segment Financial Data
71. [71] "In 2026, we expect to continue to innovate and expand our digital ecosystem and suite of digital solutions for both our existing service portfolio customers and for new equipment shipments from our factories." — Item 1, Business — Digital Technology initiatives
72. [72] "Other than the impact from new tariffs currently in effect of approximately $20 million during 2025 and a similar impact anticipated in 2026" — Item 7, MD&A — Impact of Global Macroeconomic Conditions on Our Company
73. [73] "Other than the impact from new tariffs currently in effect of approximately $20 million during 2025 and a similar impact anticipated in 2026" — Item 7, MD&A — Impact of Global Macroeconomic Conditions on Our Company
74. [74] "Otis ONE is our latest cloud-based IoT technology" — Item 1, Business — Digital Technology initiatives
75. [75] "designed to continuously monitor equipment health and performance in real time to provide proactive, predictive and transparent information to our technicians and customers." — Item 1, Business — Digital Technology initiatives
76. [76] "The technology expands predictive and remote maintenance capabilities to support improved elevator up-time and service productivity." — Item 1, Business — Digital Technology initiatives
77. [77] "Our in-car display streams live, customizable infotainment to passengers and can connect them to OTISLINE, Otis' 24-hour service call center, during an emergency." — Item 1, Business — Digital Technology initiatives
78. [78] "Our proprietary destination management system groups passengers by their desired destination and directs them to an assigned car that minimizes waiting and ride time. The system's algorithms anticipate traffic demand within a building and improve traffic flow." — Item 1, Business — Digital Technology initiatives
79. [79] "Otis' smartphone app enables passengers to summon their elevator remotely for a touchless experience." — Item 1, Business — Digital Technology initiatives
80. [80] "These are often incorporated as an optional upgrade on maintenance contracts." — Item 1, Business — Digital Technology initiatives
81. [81] "total restructuring and other incremental costs to complete the transformation ("UpLift transformation costs") are approximately $300 million, including trailing restructuring costs expected in 2026 of $18 million." — Item 7, MD&A — UpLift
82. [82] "The annual run-rate savings generated by UpLift are approximately $200 million." — Item 7, MD&A — UpLift
83. [83] "The annual run-rate savings generated by UpLift are approximately $200 million." — Item 7, MD&A — UpLift
84. [84] "total restructuring and other incremental costs to complete the transformation ("UpLift transformation costs") are approximately $300 million" — Item 7, MD&A — UpLift
85. [85] "We are targeting to complete in 2026 the majority of the remaining restructuring actions initiated in 2025 and 2024" — Item 7, MD&A — Other Restructuring Actions
86. [86] "Expected total costs and remaining costs to incur for the other restructuring actions initiated are $94 million" — Item 7, MD&A — Other Restructuring Actions
87. [87] "and $16 million, respectively." — Item 7, MD&A — Other Restructuring Actions
88. [88] "including $33 million for the 2025 actions" — Item 7, MD&A — Other Restructuring Actions
89. [89] "and $27 million for the 2024 actions" — Item 7, MD&A — Other Restructuring Actions
90. [90] "For other restructuring actions, we generally expect to achieve annual recurring savings within the two-year period subsequent to initiating the actions, including $33 million for the 2025 actions and $27 million for the 2024 actions, split evenly in Cost of Products and Services Sold and in Selling, general and administrative expenses." — Item 7, MD&A — Restructuring Costs
91. [91] "In January 2025, we announced the reorganization of our operations in China. Among other aspects, this reorganization will result in restructuring actions of approximately $30 million." — Item 7, MD&A — Reorganization of Operations in China
92. [92] "These actions include severance related costs, and these actions are substantially completed as of December 31, 2025." — Item 7, MD&A — Reorganization of Operations in China
93. [93] "Research and development $ 152" — Item 7, MD&A — Research and Development
94. [94] "Percentage of Net sales 1.1 %" — Item 7, MD&A — Research and Development
95. [95] "In addition to R&D expense, we made investments in digital and strategic initiatives of $45 million" — Item 1, Business — Research and Development & Intellectual Property
96. [96] "which in combination with R&D expense was 1.4% as a percentage of net sales." — Item 1, Business — Research and Development & Intellectual Property
97. [97] "which in combination with R&D expense was 1.4% as a percentage of net sales." — Item 1, Business — Research and Development & Intellectual Property
98. [98] "Capital expenditures ( 152 )" — Item 8, Consolidated Statements of Cash Flows
99. [99] "On January 16, 2025, our Board of Directors revoked any remaining share repurchase authority under the prior share repurchase program and approved a new share repurchase program for up to $2.0 billion of Common Stock." — Item 5, Market for Registrant's Common Equity, Related Stockholder Matters and Issuer of Purchases of Equity Securities
100. [100] "As of December 31, 2025, the maximum dollar value of shares that may yet be purchased under this current program was approximately $1.3 billion." — Item 5, Market for Registrant's Common Equity, Related Stockholder Matters and Issuer of Purchases of Equity Securities
101. [101] "As of December 31, 2025, the maximum dollar value of shares that may yet be purchased under this current program was approximately $1.3 billion." — Item 5, Market for Registrant's Common Equity, Related Stockholder Matters and Issuer of Purchases of Equity Securities
102. [102] "During 2025, ... 8.6 million ... shares of Common Stock" — Item 8, Note 12 — Treasury Stock
103. [103] "for approximately $800 million" — Item 8, Note 12 — Treasury Stock
104. [104] "Cash dividends declared ($ 1.65 per Common Share)" — Item 8, Consolidated Statements of Changes in Equity
105. [105] "We expect to make total contributions of approximately $45 million to our global defined benefit pension plans in 2026" — Item 8, Note 11 — Pension Plans
106. [106] "We expect to make total contributions of approximately $45 million to our global defined benefit pension plans in 2026" — Item 8, Note 11 — Pension Plans
107. [107] "The estimated future amortization of intangible assets over the next five years is as follows: (dollars in millions) 2026 $ 46" — Item 8, Note 7 — Intangible Assets
108. [108] "Purchase obligations $ 1,427" — Item 7, MD&A — Purchase Obligations
109. [109] "2026 $ 645" — Item 7, MD&A — Purchase Obligations
110. [110] "2026 $ 645" — Item 7, MD&A — Purchase Obligations
111. [111] "Other long-term liabilities $ 140" — Item 7, MD&A — Other Long-term Liabilities
112. [112] "2026 $ 41" — Item 7, MD&A — Other Long-term Liabilities
113. [113] "2026 $ 41" — Item 7, MD&A — Other Long-term Liabilities
114. [114] "These macroeconomic trends could continue to impact our business, including impacts to overall financial performance in 2026, as a result of the following, among other things: Higher costs of products and services due to tariffs; Customer demand impacting our new equipment, maintenance and repair, and modernization businesses; Customer liquidity constraints and related credit reserve; Cancellations or delays of customer orders; and Supplier liquidity, as well as supplier and raw material capacity constraints, delays and related costs." — Item 7, MD&A — Impact of Global Macroeconomic Conditions on Our Company
115. [115] "These macroeconomic trends could continue to impact our business, including impacts to overall financial performance in 2026, as a result of the following, among other things: Higher costs of products and services due to tariffs; Customer demand impacting our new equipment, maintenance and repair, and modernization businesses; Customer liquidity constraints and related credit reserve; Cancellations or delays of customer orders; and Supplier liquidity, as well as supplier and raw material capacity constraints, delays and related costs." — Item 7, MD&A — Impact of Global Macroeconomic Conditions on Our Company
116. [116] "If current geopolitical conflicts expand to other countries and depending on the ultimate outcomes of these conflicts, which remain uncertain, they or new geopolitical conflicts could have additional adverse effects on macroeconomic conditions, including but not limited to, increased costs, constraints on the availability of commodities, supply chain disruptions and decreased business spending; cyber-incidents; disruptions to our or our business partners’ global technology infrastructure, including through cyberattack or cyber-intrusion; adverse changes in international trade policies and relations" — Item 7, MD&A — Risks Associated with Ongoing Conflicts
117. [117] "Our business, financial condition, operating results and cash flows may be adversely affected by changes in global economic conditions, including levels of consumer and business confidence, commodity prices, raw material and energy costs, supply chain issues, trade policies (including tariffs and trade barriers), foreign currency exchange rates, interest rates, labor costs, levels of government spending and deficits, actual or anticipated default on sovereign debt, political conditions in the U.S. or otherwise, regulatory changes and other challenges that could affect the global economy. In addition, the current global economic environment has resulted, and may continue to result, in increased levels of commodity, materials and wage inflation." — Item 1A, Risk Factors — We may be affected by global economic conditions in general and conditions in the construction and infrastructure industries in particular.
118. [118] "Our international sales and operations are subject to risks associated with geopolitical conflicts, including the ongoing conflicts between Russia and Ukraine and instability in the Middle East. Geopolitical conflicts, including threats related thereto, have resulted in worldwide geopolitical and macroeconomic uncertainty, and we cannot predict how conflicts will evolve or the timing thereof. If current geopolitical conflicts expand to other countries and depending on the ultimate outcomes of these conflicts, which remain uncertain, they or new geopolitical conflicts could have additional adverse effects on macroeconomic conditions, including but not limited to, increased costs, constraints on the availability of commodities, supply chain disruptions and decreased business spending; cyber-incidents; disruptions to our or our business partners’ global technology infrastructure, including through cyberattack or cyber-intrusion; adverse changes in international trade policies and relations" — Item 1A, Risk Factors — Our international operations subject us to risks associated with geopolitical conflicts.
119. [119] "Our reliance on suppliers (including third-party manufacturers) and commodity markets to secure the raw materials and components used in our products exposes us to volatility in the prices and availability of these materials. Issues with suppliers, (such as a disruption in deliveries, capacity and credit constraints, production disruptions, quality issues and supplier closings or bankruptcies), price increases or decreased availability of raw materials or commodities (particularly steel) have in the past had and could in the future have a material adverse effect on our ability to meet our commitments to customers or could increase our operating costs, either of which could have a material adverse effect on our competitive position, results of operations, cash flows or financial condition." — Item 1A, Risk Factors — We use a variety of raw materials, supplier-provided parts, components, sub-systems and third-party manufacturing services in our business, and significant shortages, supplier capacity constraints, supplier production disruptions or price increases could increase our operating costs and adversely impact the competitive positions of our products.
120. [120] "We conduct our business on a global basis, with approximately 71% of our 2025 net sales derived from international operations." — Item 1A, Risk Factors — Our international operations subject us to risk as our results of operations may be adversely affected by changes in local and regional economic conditions, such as fluctuations in exchange rates and changes in credit conditions.
121. [121] "Our international operations subject us to risk as our results of operations may be adversely affected by changes in local and regional economic conditions, such as fluctuations in exchange rates and changes in credit conditions. ... China is currently the largest end market for sales of new equipment in our industry, with our New Equipment net sales in China representing approximately one fifth of our global New Equipment net sales and over half of our global New Equipment unit volume and a growing part of our Service segment." — Item 1A, Risk Factors — Our international operations subject us to risk as our results of operations may be adversely affected by changes in local and regional economic conditions, such as fluctuations in exchange rates and changes in credit conditions.
122. [122] "We are subject to a variety of litigation, legal and compliance risks. These risks relate to, among other things, product safety, personal injuries, intellectual property rights, contract-related claims, taxes, environmental matters, competition laws and laws governing improper business practices. ... In addition, we are subject to the U.S. Foreign Corrupt Practices Act (the "FCPA") and other anti-corruption laws that generally prohibit companies and their intermediaries from making improper payments to government officials for the purpose of obtaining or retaining business." — Item 1A, Risk Factors — We are subject to litigation, product safety and other legal and compliance risks.
123. [123] "The estimated range of total liabilities to resolve all pending and unasserted potential future asbestos claims through 2059 is approximately $11 million to $31 million as of December 31, 2025" — Item 8, Note 20 — Asbestos Matters
124. [124] "Since no amount within the range of estimates is more likely to occur than any other, we have recorded the minimum amount of $11 million as of December 31, 2025" — Item 8, Note 20 — Asbestos Matters
125. [125] "Since no amount within the range of estimates is more likely to occur than any other, we have recorded the minimum amount of $11 million as of December 31, 2025" — Item 8, Note 20 — Asbestos Matters
126. [126] "We collect, store, have access to and otherwise process certain company and third-party confidential or sensitive data that may be subject to data privacy and cybersecurity laws, regulations or customer-imposed controls, including proprietary business information, personal data and other information. ... our internal systems and products may be vulnerable to further cyberattacks, security breaches, theft, programming errors or employee errors, which could lead to the compromise of confidential and sensitive data, unauthorized access, use, disclosure, modification or destruction of information, improper use of our systems, software solutions or networks, defective products, production downtimes and/or operational disruptions in violation of applicable law and/or contractual obligations." — Item 1A, Risk Factors — Information security, data privacy and identity protection may require significant resources and present certain risks to our business, reputation and financial condition.
127. [127] "As of December 31, 2025, we had $7.7 billion outstanding long-term debt." — Item 1A, Risk Factors — Our debt levels and related debt service obligations could have negative consequences; we may need additional debt or equity financing in the future to meet our capital needs, and such financing may not be available on favorable terms, if at all, due to changes in global capital markets, our financial performance or outlook or our credit ratings and may be dilutive to existing shareholders.
128. [128] "requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which would reduce funds we have available for other purposes, such as acquisitions and reinvestment in our businesses" — Item 1A, Risk Factors — Our debt levels and related debt service obligations could have negative consequences; we may need additional debt or equity financing in the future to meet our capital needs, and such financing may not be available on favorable terms, if at all, due to changes in global capital markets, our financial performance or outlook or our credit ratings and may be dilutive to existing shareholders.
129. [129] "The annual run-rate savings generated by UpLift are approximately $200 million." — Item 7, MD&A — UpLift
130. [130] "The annual run-rate savings generated by UpLift are approximately $200 million." — Item 7, MD&A — UpLift
131. [131] "total restructuring and other incremental costs to complete the transformation ("UpLift transformation costs") are approximately $300 million" — Item 7, MD&A — UpLift
132. [132] "including trailing restructuring costs expected in 2026 of $18 million." — Item 7, MD&A — UpLift
133. [133] "including trailing restructuring costs expected in 2026 of $18 million." — Item 7, MD&A — UpLift
134. [134] "In 2026, we expect to continue to innovate and expand our digital ecosystem and suite of digital solutions for both our existing service portfolio customers and for new equipment shipments from our factories." — Item 1, Business — Digital Technology initiatives
135. [135] "We believe our business strategies allow us to: Sustain New Equipment growth; Accelerate Service portfolio growth; Deliver modernization value; Advance the digitalization of Otis; and Focus and empower the organization." — Item 1, Business — Competition
136. [136] "Other than the impact from new tariffs currently in effect of approximately $20 million during 2025" — Item 7, MD&A — Impact of Global Macroeconomic Conditions on Our Company
137. [137] "and a similar impact anticipated in 2026" — Item 7, MD&A — Impact of Global Macroeconomic Conditions on Our Company
138. [138] "we currently do not expect any significant impact to our capital and financial resources from these macroeconomic conditions, including to our overall liquidity position based on our available cash and cash equivalents and our access to credit facilities and the capital markets." — Item 7, MD&A — Impact of Global Macroeconomic Conditions on Our Company
139. [139] "On January 16, 2025, our Board of Directors revoked any remaining share repurchase authority under the prior share repurchase program and approved a new share repurchase program for up to $2.0 billion of Common Stock." — Item 5, Market for Registrant's Common Equity, Related Stockholder Matters and Issuer of Purchases of Equity Securities
140. [140] "As of December 31, 2025, the maximum dollar value of shares that may yet be purchased under this current program was approximately $1.3 billion." — Item 5, Market for Registrant's Common Equity, Related Stockholder Matters and Issuer of Purchases of Equity Securities
141. [141] "As of December 31, 2025, the maximum dollar value of shares that may yet be purchased under this current program was approximately $1.3 billion." — Item 5, Market for Registrant's Common Equity, Related Stockholder Matters and Issuer of Purchases of Equity Securities
142. [142] "Cash dividends declared ($ 1.65 per Common Share)" — Item 8, Consolidated Statements of Changes in Equity
143. [143] "Cash dividends declared ($ 1.65 per Common Share)" — Item 8, Consolidated Statements of Changes in Equity