Housing and Building Products HVAC

Home Comfort $3.34B, down 7% from $3.58B. Building Climate $1.85B, up 5% from $1.76B. Group $5.20B. Residential HVAC is the larger, weaker pile.

2025: United States $4.82B, Canada $0.37B. Home Comfort US $3.10B. Building Climate US $1.72B. No Europe or China revenue line in the 10-K note.

Water heaters, not furnaces. North America $2.98B. Rest of World $0.88B, mostly China, where third-party sales fell 12% in local currency. Consolidated $3.83B after eliminations.