Otis Worldwide
26 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.
Customers
Distributors and agents in China
earns fromnamed as a riskCertain of our businesses sell a significant amount of their products to distributors and agents, particularly in China, that have valuable relationships with customers.Risk factors (Item 1A)
Partners and platforms
Otis Elevator (China) Investment Company Limited (Otis China)
operates innamed as a riskIn certain regions, we operate our business through joint venture relationships or non-wholly owned subsidiaries, including Otis Elevator (China) Investment Limited in China.Risk factors (Item 1A)
Tianjin Tai Kang Investment Co. Ltd.
We are the majority owner of Otis China, and Tianjin Tai Kang Investment Co. Ltd. is our joint venture partner.Business (Item 1)
Other companies
RTX Corporation
named as a riskIn certain circumstances, we could be required to indemnify RTX for material taxes and other related amounts pursuant to indemnification obligations under the TMA.Risk factors (Item 1A)
Carrier Global Corporation
named as a riskIndemnities that we may be required to provide RTX and/or Carrier are not subject to any cap, may be significant and could negatively impact our business.Risk factors (Item 1A)
UpLift
named as a riskIn order to operate more efficiently and cost effectively, we have and may continue to adjust employment, optimize our footprint or undertake other restructuring or transformation activities, including in connection with UpLift and our China business, and related reorganization, transformation and outsourcing activities, as applicable.Risk factors (Item 1A)
Competitors
Independent elevator service providers
competes with · about 50% of service unitsThese independent service providers have an aggregate portfolio of about 50% of service units, but account for a smaller percentage of the service business when measured by value because of the types of units and level of maintenance covered by these providers.Business (Item 1)
KONE Oyj
competes withIn 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.Business (Item 1)
Schindler Group
competes withIn 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.Business (Item 1)
TK Elevator
competes withIn 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.Business (Item 1)
Places
China
concentrated in · approximately one fifth of our global New Equipment net sales and over half of our global New Equipment unit volumenamed as a riskChina 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.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Hazards
Russia-Ukraine conflict
named as a riskOur 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.Risk factors (Item 1A)
Also named by ABT, ADM, ARWR, CAG, CDRE, DOW, EMN, FDX and 14 more
Commodities and inputs
U.S. dollar
exposed to its price · approximately 71% of our 2025 net salesnamed as a riskGiven that the majority of our net sales are non-U.S. based, a strengthening of the U.S. dollar against other major foreign currencies has adversely affected and could in the future adversely affect our results of operations.Risk factors (Item 1A)
Also named by A, AAPL, AEHR, CROX, CSCO, FWONA, IDXX, KEYS and 4 more
Euro
exposed to its price · approximately €2.0 billion ($2.3 billion) of Euro denominated long-term debtAs of December 31, 2025 we have approximately €2.0 billion ($2.3 billion) of Euro denominated long-term debt.Market risk (Item 7A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
Japanese Yen
exposed to its price · ¥21.5 billion ($137 million)As discussed in "Note 16: Financial Instruments" in Item 8 in this Form 10-K, as of December 31, 2025 we have ¥21.5 billion ($137 million) of Japanese Yen denominated long-term debt that qualifies as a net investment hedge against our investments in Japanese businesses, as well as derivative instruments that qualify as net investment hedges against our investments in certain European businesses with notional amounts of €169 million ($199 million) and Asian businesses with notional amounts of HK$2.2 billion ($283 million).Market risk (Item 7A)
Also named by ABBV, ABT, ACN, ADBE, ALK, AMAT, AMKR, BMY and 24 more
Steel
exposed to its pricenamed as a riskIssues 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.Risk factors (Item 1A)
Also named by AAON, AGX, ALSN, AM, AME, AMRC, AOS, APD and 104 more
Regulators
Internal Revenue Service (IRS)
subject tonamed as a riskAccordingly, notwithstanding receipt by UTC of the IRS ruling and the opinion of counsel, there can be no assurance that the IRS will not assert that the Separation and/or certain related transactions did not qualify for tax-free treatment for U.S. federal income tax purposes or that a court would not sustain such a challenge.Risk factors (Item 1A)
Also named by AAPL, ABNB, ADI, AJG, AMGN, BBSI, BMNR, BRO and 39 more
Laws and programs
U.S. collective bargaining agreement
Approximately 64% of our U.S. workforcenamed as a riskApproximately 64% of our U.S. workforce is covered by a collective bargaining agreement.Business (Item 1)
U.S. Foreign Corrupt Practices Act (FCPA)
subject tonamed as a riskCertain of our customer relationships are with governmental entities and are, therefore, subject to the FCPA and other anti-corruption laws.Risk factors (Item 1A)
Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more
U.S. Export Administration Regulations
subject tonamed as a riskIn the U.S., these laws include, among others, the Export Administration Regulations administered by the Department of Commerce and embargoes and sanctions regulations administered by the Department of the Treasury.Risk factors (Item 1A)
Also named by ADI, ALAB, AMD, APP, ARW, AVGO, CARR, CDRE and 40 more
U.S.-China trade tensions
subject tonamed as a riskAdditionally, the escalation of trade conflicts between the U.S. and China could further impact economic conditions in the U.S. and China.Risk factors (Item 1A)
European anti-collusion civil cartel claims
subject tonamed as a riskWe are subject to ongoing claims related to alleged violations of anti-collusion laws in certain European countries, where we are subject to claims for overcharges on elevators and escalators related to civil cartel cases.Risk factors (Item 1A)
Technology
Otis ONE
approximately 1.1 million unitsAs of December 31, 2025, approximately 1.1 million units of our global portfolio, including units under the warranty period, are connected.Business (Item 1)