Common stock, shares authorized (in shares)

[Table of Contents](#i329aa562213e420593df15cade55885b_7)             The changes in the carrying amount of warranty related provisions are as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Nine Months Ended September 30, |
| (In millions) |  | 2022 |  | 2021 |
| Balance as of January 1, |  | $ | 524  |  |  | $ | 514  |  |
| Warranties, performance guarantees issued and changes in estimated liability |  | 120  |  |  | 136  |  |
| Settlements made |  | (116) |  |  | (127) |  |
| Other |  | 9  |  |  | 1  |  |
| Balance as of September 30, |  | $ | 537  |  |  | $ | 524  |  |

  
NOTE 10: EQUITY The authorized number of shares of common stock of Carrier is 4,000,000,000 shares of $0.01 par value. As of September 30, 2022 and December 31, 2021, 875,413,836 and 873,064,219 shares of common stock were issued, respectively, which includes 39,237,430 and 10,375,654 shares of treasury stock, respectively.  
Share Repurchase ProgramThe Company may repurchase its outstanding common stock from time to time subject to market conditions and at the Company's discretion in the open market or through one or more other public or private transactions and subject to compliance with the Company's obligations under certain tax agreements. Shares acquired are recognized at cost and presented separately on the balance sheet as a reduction to Equity. In July 2021, the Company's Board of Directors approved a $1.75 billion increase to the Company's existing $350 million share repurchase program authorizing the repurchase of up to $2.1 billion of the Company's outstanding common stock. During 2021, the Company repurchased 10.4 million shares of common stock for an aggregate purchase price of $529 million.  
On December 14, 2021, the Company entered into an accelerated share repurchase agreement ("ASR Agreement") to repurchase $500 million of its common stock pursuant to the Company's existing share repurchase program. In accordance with the ASR Agreement, the Company received initial delivery of 7.6 million shares on January 4, 2022, representing approximately 80% of the expected share repurchases. The final number of shares under the ASR Agreement was based on the daily average of the volume-weighted average share price of the Company's common stock over the term of the ASR Agreement. Upon final settlement, the Company received an additional 2.7 million shares on February 8, 2022 and recognized $500 million in Treasury stock as a reduction in equity.  
During the nine months ended September 30, 2022, the Company repurchased 28.9 million shares of common stock for an aggregate purchase price of $1.3 billion, which includes shares repurchased under the ASR Agreement. As of September 30, 2022, the Company has approximately $309 million remaining under the current authorization. In October 2022, the Company's Board of Directors approved a $2.0 billion increase to the Company's existing share repurchase program.  
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