Earnings per Share

3 Months Ended

Mar. 31, 2025


	Quarter Ended March 31,
(dollars in millions, except per share amounts; shares in millions)	2025		2024




Net income attributable to common shareholders	$	243	$	353

Basic weighted average number of shares outstanding	396.6		405.2
Stock awards and equity units (share equivalent)	2.5		2.9
Diluted weighted average number of shares outstanding	399.1		408.1

Earnings Per Share of Common Stock:


Basic	$	0.61	$	0.87



Diluted	$	0.61	$	0.86

The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards, including stock appreciation rights and stock options, when the average market price of Otis' common stock ("Common Stock") is lower than the exercise price of the related stock awards during the period because the effect would be anti-dilutive. In addition, the computation of diluted earnings per share excludes the effect of the potential exercise of stock awards when the awards' assumed proceeds exceed the average market price of the common shares during the period. Lastly, the computations of diluted earnings per share include outstanding awards granted prior to the separation and distribution ("Separation") of each of Otis and Carrier Global Corporation from United Technologies Corporation ("UTC"), subsequently renamed RTX Corporation, and converted upon the Separation, in accordance with the Employee Matters Agreement, dated as of April 2, 2020, by the among UTC, Otis and Carrier Global Corporation. There were 0.5 million of anti-dilutive stock awards excluded from the computation for the quarter ended March 31, 2025, compared to 1.4 million for the same period in 2024.

The impact of redeemable noncontrolling interest to Net income attributable to common shareholders was immaterial in the quarters ended March 31, 2025 and 2024.