Otis Worldwide Corporation (OTIS) Income Tax Expense
The tax expense for Otis Worldwide Corporation (OTIS) is $479.00 Million with a year-over-year change of +57.05%. Income tax expense is the amount a company pays in federal, state, and foreign income taxes based on its taxable income for the period.
OTIS Tax Expense Chart
Current Tax Expense
$479.00M
$479.00 Million
Year-over-Year Change
+57.05%
vs. $305.00M prior year
Historical Data
9
Years of data available
Annual Tax Expense History
| Year | Tax Expense | YoY Change | % Change |
|---|---|---|---|
| 2025 | $479.00M | +$174.00M | +57.05% |
| 2024 | $305.00M | $-228.00M | -42.78% |
| 2023 | $533.00M | +$14.00M | +2.70% |
| 2022 | $519.00M | $-22.00M | -4.07% |
| 2021 | $541.00M | +$86.00M | +18.90% |
| 2020 | $455.00M | $-139.00M | -23.40% |
| 2019 | $594.00M | $-89.00M | -13.03% |
| 2018 | $683.00M | $-465.00M | -40.51% |
| 2017 | $1.15B | — | — |
About Otis Worldwide Corporation
Otis Worldwide Corporation is a global leader specializing in the manufacturing, installation, and servicing of elevators and escalators, with significant operations in the United States, China, and numerous other international markets. The company's business is organized into two primary divisions: New Equipment and Service. Its New Equipment segment is responsible for the design, fabrication, sale, and fitting of a diverse array of passenger and freight elevators, escalators, and moving walkways, catering to residential and commercial properties, as well as large-scale infrastructure endeavors. Conversely, the Service segment offers extensive maintenance, repair, and modernization services aimed at upgrading existing elevator and escalator systems. Otis maintains a substantial global service footprint, employing approximately 34,000 service technicians across roughly 1,400 branches and offices. The company, established in 1853, is headquartered in Farmington, Connecticut.
- Sector
- Industrials
- Industry
- Industrial - Machinery
- CEO
- Judith F. Marks