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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2020

USD ($)

$ / shares

Pay vs Performance Disclosure [Table]

Pay vs Performance [Table Text Block]

Pay versus performance

The following section has been prepared in accordance with the SEC’s new pay versus performance (“PvP”) disclosure rule. The PvP rule requires public companies to disclose information reflecting the relationship between the company’s financial performance and a new definition of pay, referred to as “Compensation Actually Paid.” The Compensation Actually Paid amounts shown below do not reflect actual compensation paid to or earned by our NEOs and Compensation Actually Paid was not used by the Compensation Committee to make any compensation decisions.

The table below includes the required PvP disclosures for the Principal Executive Officer (“PEO”) and the average non-PEO NEO for fiscal years 2022, 2021 and 2020. Detailed information on the calculation of the Compensation Actually Paid amounts for the applicable year can be found in footnote (2) below.

Year			Summary Compensation Table Total for PEO ($)⁽¹⁾			Compensation Actually Paid to PEO ($)⁽²⁾			Average Summary Compensation Table Total for Non-PEO NEOs ($)⁽³⁾			Average Compensation Actually Paid to Non-PEO NEOs ($)⁽²⁾			Value of Initial Fixed $100 investment based on:						Net Income ($M)⁽⁵⁾			Adjusted Earnings Per Share ($)⁽⁶⁾
Year			Summary Compensation Table Total for PEO ($)⁽¹⁾			Compensation Actually Paid to PEO ($)⁽²⁾									Otis TSR⁽⁴⁾			Peer Group TSR⁽⁴⁾			Net Income ($M)⁽⁵⁾			Adjusted Earnings Per Share ($)⁽⁶⁾
2022			14,477,875			15,281,897			3,457,622			2,196,543			172			183			1,253			3.17
2021			13,770,306			26,766,637			3,956,450			7,555,268			188			193			1,246			3.01
2020			11,987,312			17,995,581			4,508,897			5,098,198			144			160			906			2.52

(1)	The PEO for each year shown in this table is Ms. Marks.

(2)

The year-over-year variation in the amounts reported is highly correlated with changes in our stock price. In 2022, Mr. Ghai, our former CFO, left employment and forfeited certain equity awards granted to him. His departure contributed to the lower “Average Compensation Actually Paid to non-PEO NEOs” amount reported for 2022. The following tables set forth the adjustments made from the Summary Compensation Table total for the PEO and the Average Summary Compensation Table total for the non-PEO NEOs for each year to determine the Compensation Actually Paid to the PEO and Average Compensation Actually Paid to the non-PEO NEOs under the rule.

Adjustments from Summary Compensation Table Total for PEO			2022			2021			2020
Deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table			-10,037,135			-8,551,766			-7,928,489
Increase based on fair value of awards granted during year that remain unvested as of year-end, determined as of year-end			9,863,321			13,480,355			8,104,020
Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end			1,617,926			7,921,323			5,501,620⁽⁷⁾
Increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year			-964,169			-95,793			246,679
Increase based on dividends or other earnings paid during year prior to vesting date of award			324,079			242,212			84,439
Total Adjustments			804,022			12,996,331			6,008,269

Adjustments from Average Summary Compensation Table Total for Non-PEO NEOs			2022			2021			2020
Average deduction for change in actuarial present values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column in the Summary Compensation Table⁽⁷⁾			–			-32,418			-131,158
Average increase for service cost of pension plans⁽⁷⁾			3,800			4,500			3,200
Average deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table			-1,837,952			-1,760,727			-2,505,440
Average increase based on fair value of awards granted during year that remain unvested as of year-end, determined as of year-end			1,285,639			2,775,458			2,078,247
Average increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end			196,731			2,506,949			1,232,398⁽⁸⁾
Average increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year			-377,495			23,866			149,908
Average deduction of fair value of awards granted prior to year that were forfeited during year			-596,064			–			-266,333
Average increase based on dividends or other earnings paid during year prior to vesting date of award			64,262			81,190			28,479
Total Adjustments			-1,261,079			3,598,818			589,301

(3)

For 2022, our non-PEO NEOs consisted of Ms. LaFreniere and Messrs. Maheshwari, Zheng, de Montlivault and Ghai. For 2021, our non-PEO NEOs consisted of Ms. LaFreniere and Messrs. Ghai, Zheng, and de Montlivault. For 2020, our non-PEO NEOs consisted of Ms. LaFreniere and Messrs. Ghai, Zheng, de Montlivault and Eubanks.

(4)

Otis did not become an independent publicly traded company until April 3, 2020. The TSR calculations for Otis and the Peer Group are based on a fixed $100 investment from April 3, 2020, through the end of 2022, assuming reinvestment of dividends. The Peer Group for purposes of this table is the S&P 500 Industrials Select Sector Index.

(5)	This represents Otis’ net income calculated in accordance with GAAP.

(6)

The Compensation Committee has made the assessment that adjusted earnings per share (“adjusted EPS”), which is calculated on a diluted basis, represents the most important financial measure used by Otis to link Compensation Actually Paid to our PEO and non-PEO NEOs for 2022 to our performance. Adjusted EPS is the performance measure that has the greatest weighting under our PSUs. We grant 50% of each NEO’s LTI opportunity as PSUs. See Appendix A for information on how adjusted EPS is calculated from our audited financial statements.

(7)	Ms. LaFreniere is a participant in the PPP and Mr. de Montlivault is a participant in the TCN Plan. None of our other NEOs participate in an Otis-sponsored pension plan.

(8)	For awards granted prior to 2020, we measure the increase or decrease in fair value from April 3, 2020, the date we became an independent publicly traded company.

Company Selected Measure Name

Adjusted Earnings Per Share

Named Executive Officers, Footnote [Text Block]

(3)

For 2022, our non-PEO NEOs consisted of Ms. LaFreniere and Messrs. Maheshwari, Zheng, de Montlivault and Ghai. For 2021, our non-PEO NEOs consisted of Ms. LaFreniere and Messrs. Ghai, Zheng, and de Montlivault. For 2020, our non-PEO NEOs consisted of Ms. LaFreniere and Messrs. Ghai, Zheng, de Montlivault and Eubanks.

Peer Group Issuers, Footnote [Text Block]

(4)

Otis did not become an independent publicly traded company until April 3, 2020. The TSR calculations for Otis and the Peer Group are based on a fixed $100 investment from April 3, 2020, through the end of 2022, assuming reinvestment of dividends. The Peer Group for purposes of this table is the S&P 500 Industrials Select Sector Index.

PEO Total Compensation Amount

$ 14,477,875

$ 13,770,306

$ 11,987,312

PEO Actually Paid Compensation Amount

$ 15,281,897

26,766,637

17,995,581

Adjustment To PEO Compensation, Footnote [Text Block]

(2)

The year-over-year variation in the amounts reported is highly correlated with changes in our stock price. In 2022, Mr. Ghai, our former CFO, left employment and forfeited certain equity awards granted to him. His departure contributed to the lower “Average Compensation Actually Paid to non-PEO NEOs” amount reported for 2022. The following tables set forth the adjustments made from the Summary Compensation Table total for the PEO and the Average Summary Compensation Table total for the non-PEO NEOs for each year to determine the Compensation Actually Paid to the PEO and Average Compensation Actually Paid to the non-PEO NEOs under the rule.

Adjustments from Summary Compensation Table Total for PEO			2022			2021			2020
Deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table			-10,037,135			-8,551,766			-7,928,489
Increase based on fair value of awards granted during year that remain unvested as of year-end, determined as of year-end			9,863,321			13,480,355			8,104,020
Increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end			1,617,926			7,921,323			5,501,620⁽⁷⁾
Increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year			-964,169			-95,793			246,679
Increase based on dividends or other earnings paid during year prior to vesting date of award			324,079			242,212			84,439
Total Adjustments			804,022			12,996,331			6,008,269

Non-PEO NEO Average Total Compensation Amount

$ 3,457,622

3,956,450

4,508,897

Non-PEO NEO Average Compensation Actually Paid Amount

$ 2,196,543

7,555,268

5,098,198

Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

(2)

The year-over-year variation in the amounts reported is highly correlated with changes in our stock price. In 2022, Mr. Ghai, our former CFO, left employment and forfeited certain equity awards granted to him. His departure contributed to the lower “Average Compensation Actually Paid to non-PEO NEOs” amount reported for 2022. The following tables set forth the adjustments made from the Summary Compensation Table total for the PEO and the Average Summary Compensation Table total for the non-PEO NEOs for each year to determine the Compensation Actually Paid to the PEO and Average Compensation Actually Paid to the non-PEO NEOs under the rule.

Adjustments from Average Summary Compensation Table Total for Non-PEO NEOs			2022			2021			2020
Average deduction for change in actuarial present values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” column in the Summary Compensation Table⁽⁷⁾			–			-32,418			-131,158
Average increase for service cost of pension plans⁽⁷⁾			3,800			4,500			3,200
Average deduction for amounts reported under the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table			-1,837,952			-1,760,727			-2,505,440
Average increase based on fair value of awards granted during year that remain unvested as of year-end, determined as of year-end			1,285,639			2,775,458			2,078,247
Average increase/deduction for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end			196,731			2,506,949			1,232,398⁽⁸⁾
Average increase/deduction for change in fair value from prior year-end to vesting date of awards granted prior to year that vested during year			-377,495			23,866			149,908
Average deduction of fair value of awards granted prior to year that were forfeited during year			-596,064			–			-266,333
Average increase based on dividends or other earnings paid during year prior to vesting date of award			64,262			81,190			28,479
Total Adjustments			-1,261,079			3,598,818			589,301

Compensation Actually Paid vs. Total Shareholder Return [Text Block]

The graphs below illustrate the relationship between Compensation Actually Paid and

•	Cumulative TSR for Otis and the Peer Group

Compensation Actually Paid vs. Net Income [Text Block]

The graphs below illustrate the relationship between Compensation Actually Paid and

•	Otis’ net income

Compensation Actually Paid vs. Company Selected Measure [Text Block]

The graphs below illustrate the relationship between Compensation Actually Paid and

•	Otis’ adjusted EPS

Total Shareholder Return Vs Peer Group [Text Block]

The graphs below illustrate the relationship between Compensation Actually Paid and

•	Cumulative TSR for Otis and the Peer Group

Tabular List [Table Text Block]

Most important financial performance measures

In our assessment, the most important financial performance measures used to link Compensation Actually Paid to our NEOs in 2022 to our performance are the performance measures that we used in our 2022 STI and LTI programs:

• Adjusted EPS⁽¹⁾

• Adjusted net income⁽¹⁾

• Free cash flow⁽¹⁾

• Organic sales growth⁽¹⁾

• New Equipment orders growth⁽¹⁾

• Relative TSR

For more information on these measures, see the “STI compensation” section on pages 50-53 and “LTI compensation” section on pages 54-57.

(1)	Refer to Appendix A on pages 94-97 and Appendix B on page 98 for information on what is included in these definitions. Appendix A also provides a reconciliation of the non-GAAP financial measures to the corresponding GAAP financial measures.

Total Shareholder Return Amount

$ 172

188

144

Peer Group Total Shareholder Return Amount

183

193

160

Net Income (Loss)

$ 1,253,000,000

$ 1,246,000,000

$ 906,000,000

Company Selected Measure Amount | $ / shares

3.17

3.01

2.52

Ms. Marks

Ms. Marks

Ms. Marks

Measure [Axis]: 1

Pay vs Performance Disclosure [Table]

Adjusted EPS

Non-GAAP Measure Description [Text Block]

(6)

The Compensation Committee has made the assessment that adjusted earnings per share (“adjusted EPS”), which is calculated on a diluted basis, represents the most important financial measure used by Otis to link Compensation Actually Paid to our PEO and non-PEO NEOs for 2022 to our performance. Adjusted EPS is the performance measure that has the greatest weighting under our PSUs. We grant 50% of each NEO’s LTI opportunity as PSUs. See Appendix A for information on how adjusted EPS is calculated from our audited financial statements.

Measure [Axis]: 2

Pay vs Performance Disclosure [Table]

Adjusted net income

Measure [Axis]: 3

Pay vs Performance Disclosure [Table]

Free cash flow

Measure [Axis]: 4

Pay vs Performance Disclosure [Table]

Organic sales growth

Measure [Axis]: 5

Pay vs Performance Disclosure [Table]

New Equipment orders growth

Measure [Axis]: 6

Pay vs Performance Disclosure [Table]

Relative TSR

PEO [Member] | Total Adjustments [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

$ 804,022

$ 12,996,331

$ 6,008,269

PEO [Member] | Amounts Reported Under the "Stock Awards" and "Option Awards" Columns in the Summary Compensation Table [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(10,037,135)

(8,551,766)

(7,928,489)

PEO [Member] | Based on Fair Value of Awards Granted During Year That Remain Unvested as of Year-end, Determined as of Year-End [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

9,863,321

13,480,355

8,104,020

PEO [Member] | Change in Fair Value from Prior Year-End to Current Year-end of Awards Granted Prior to Year That Were Outstanding and Unvested as of Year-End [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

1,617,926

7,921,323

5,501,620

PEO [Member] | Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year That Vested During Year [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(964,169)

(95,793)

246,679

PEO [Member] | Based on Dividends or Other Earnings Paid During Year Prior to Vesting Date of Award [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

324,079

242,212

84,439

Non-PEO NEO [Member] | Total Adjustments [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(1,261,079)

3,598,818

589,301

Non-PEO NEO [Member] | Change in Actuarial Present Values Reported Under the "Change in Pension Value and Nonqualified Deferred Compensation Earnings" Column in the Summary Compensation Table [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

0

(32,418)

(131,158)

Non-PEO NEO [Member] | Service Cost of Pension Plans [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

3,800

4,500

3,200

Non-PEO NEO [Member] | Amounts Reported Under the "Stock Awards" and "Option Awards" Columns in the Summary Compensation Table [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(1,837,952)

(1,760,727)

(2,505,440)

Non-PEO NEO [Member] | Based on Fair Value of Awards Granted During Year That Remain Unvested as of Year-end, Determined as of Year-End [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

1,285,639

2,775,458

2,078,247

Non-PEO NEO [Member] | Change in Fair Value from Prior Year-End to Current Year-end of Awards Granted Prior to Year That Were Outstanding and Unvested as of Year-End [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

196,731

2,506,949

1,232,398

Non-PEO NEO [Member] | Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to Year That Vested During Year [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(377,495)

23,866

149,908

Non-PEO NEO [Member] | Fair Value of Awards Granted Prior to Year That Were Forfeited During Year [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

(596,064)

0

(266,333)

Non-PEO NEO [Member] | Based on Dividends or Other Earnings Paid During Year Prior to Vesting Date of Award [Member]

Pay vs Performance Disclosure [Table]

Adjustment to Compensation Amount

$ 64,262

$ 81,190

$ 28,479