The Company entered into a definitive agreement to sell its Residential and Light Commercial (R&LC) HVAC business to Robert Bosch GmbH, expected to close in the fourth quarter of fiscal 2025, continuing the company's focus on commercial building solutions.

The company is leveraging its existing portfolio and digital capabilities powered by OpenBlue to capitalize on key growth opportunities in data centers, sustainable buildings, healthy buildings and smart buildings.

The company is focused on maximizing opportunities across the building lifecycle, driving integrated solutions, and accelerating growth in digital services, regions and verticals, while sustaining a customer-centric culture.

The company committed to a multi-year restructuring plan to address stranded costs and further right-size its global operations, with expected one-time costs of approximately $400 million and annual cost savings of approximately $500 million upon full completion.

The company experienced a cybersecurity incident that caused disruptions and limitations to business applications, impacting revenues and cash flows in early fiscal 2024, though the overall impact was not material to the full year.

The company announced that its current CEO, George Oliver, plans to retire and the board has initiated a search for a qualified successor, potentially leading to leadership transition risks.

The company faces numerous cybersecurity threats, including advanced persistent threats, and has experienced breaches that could disrupt operations, result in loss of information, and harm its reputation.

The company could experience further disruptions, shortages, and price inflation in its supply chain, which could negatively impact its ability to manufacture products, meet customer demand and convert backlog to revenue.

The company has made public commitments regarding carbon emission reductions, and failure to meet these commitments could result in adverse publicity and reaction from stakeholders.

The company faces competition from numerous local, regional, national and international providers, as well as emerging entrants in digital services, software, and IoT.

The company has strong positions in attractive and growing end-markets across HVAC, controls, fire, security and services, enhanced by its comprehensive product portfolio and substantial installed base.

The company believes it is well positioned to capitalize on emerging trends in the commercial buildings industry, including data centers, sustainable buildings, healthy buildings/indoor environmental quality and smart buildings.

The company is focused on disciplined execution, productivity enhancements and sustainable cost management to realize expanded margins and enhanced profitability.

While the company has seen its supply chain normalize, it could experience further disruptions, shortages and price inflation in the future, which will depend on its ability to mitigate and offset the impact of these events.

The company relies on its direct sales channel for a substantial portion of its revenue, which provides opportunities for longer-term service, monitoring, solutions and retrofit revenue.

The company is investing a substantial portion of its research and development in climate and efficiency-related innovation to develop sustainable products and services.

The company is investing in the development of its OpenBlue platform and related service offerings, digital product capabilities, energy efficient products, and low GWP refrigerants and technology.

The company is incorporating AI and machine learning technology into its products, services and processes, which may present both opportunities and risks.

The company repurchased $1.2 billion of its ordinary shares on the open market during fiscal 2024, with approximately $1.7 billion remaining available under the current share repurchase program.

The company expects to use a portion of the proceeds from the R&LC HVAC business divestiture to pay down debt to the extent required to retain its investment grade rating.

The company declared dividends of $1.48 per share in fiscal 2024 and intends to continue paying quarterly dividends in fiscal 2025.

The company has made public commitments to achieve net zero carbon emissions for Scope 1 and 2 by 2040 and has established science-based targets to reduce Scope 1 and 2 emissions from operations and Scope 3, category 11 emissions from the use of sold products.

The company is dedicated to creating a workplace where diversity is celebrated, where every employee feels included and valued, and where equitable practices are the norm.

The company's health and safety programs are designed around global standards with appropriate variations addressing multiple jurisdictions and regulations.

The company's results of operations were impacted by continued softening of economic conditions in China, negatively impacting the performance of the Building Solutions Asia Pacific segment.

Long-term economic and geopolitical uncertainty in various regions could negatively affect cash flows and the company's ability to cover capital needs and debt service requirements.

Increased public awareness and concern regarding global climate change has resulted in more regulations designed to reduce greenhouse gas emissions, which could impact the company's global products business.