1Heat peas and water to boiling in 4-quart Dutch oven. Boil uncovered 2 minutes; remove from heat. Cover and let stand 1 hour.
2Stir in onion, celery and pepper. Add ham bone. Heat to boiling; reduce heat. Cover and simmer about 1 hour 30 minutes or until peas are tender.
3Remove ham bone; remove ham from bone. Trim excess fat from ham; cut ham into 1/2-inch pieces.
4Stir ham and carrots into soup. Heat to boiling; reduce heat. Cover and simmer about 30 minutes or until carrots are tender and soup is desired consistency.