10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2019 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 6, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues | $ 77,046 | 66,501 | 59,837 |
| Consolidated Statement of Operations | |||
| Costs and Expenses: | |||
| Research and development | 3,015 | 2,462 | 2,427 |
| Selling, general and administrative | 8,521 | 7,066 | 6,429 |
| Total costs and expenses | 68,601 | 59,513 | 53,057 |
| Other Income | 521 | 1,565 | 1,358 |
| Operating profit | 8,966 | 8,553 | 8,138 |
| Non-service pension cost (benefit) | (888) | (765) | (534) |
| Interest Expense, net | 1,611 | 1,038 | 909 |
| Income from continuing operations before income taxes | 8,243 | 8,280 | 7,763 |
| Income tax expense | 2,295 | 2,626 | 2,843 |
| Net income from continuing operations | 5,948 | 5,654 | 4,920 |
| Less: Noncontrolling interest in subsidiaries' earnings from continuing operations | 411 | 385 | 368 |
| Net income attributable to common shareowners | 5,537 | 5,269 | 4,552 |
| Earnings Per Share of Common Stock - Basic: | |||
| Net income attributable to common shareowners | 6.48 | 6.58 | 5.76 |
| Earnings Per Share of Common Stock - Diluted: | |||
| Net income attributable to common shareowners | 6.41 | 6.50 | 5.70 |
| Dividends Per Share of Common Stock | 2.94 | 2.84 | 2.72 |
| Weighted average number of shares outstanding: | |||
| Basic shares | 854,800,000 | 800,400,000 | 790,000,000 |
| Diluted shares | 863,900,000 | 810,100,000 | 799,100,000 |
| Product and Service | |||
| Product | |||
| Revenues | 54,004 | 45,434 | 41,361 |
| Cost of Goods and Services Sold | 42,444 | 36,754 | 31,224 |
| Service | |||
| Revenues | 23,042 | 21,067 | 18,476 |
| Cost of Goods and Services Sold | 14,621 | 13,231 | 12,977 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2019 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 6, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income from continuing operations | $ 5,948 | 5,654 | 4,920 |
| Net income | 5,948 | 5,654 | 4,920 |
| Other comprehensive loss, net of tax: | |||
| Foreign currency translation adjustments | |||
| Foreign currency translation adjustments arising during period | 266 | (516) | 620 |
| Reclassification adjustments for from sale of an investment in a foreign entity recognized in net income | (2) | 2 | 10 |
| Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax | 268 | (518) | 610 |
| Tax expense (benefit) | 43 | 4 | 0 |
| Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 225 | (522) | 610 |
| Change in pension and post-retirement benefit plans | |||
| Net actuarial (loss) gain arising during period | (543) | (1,819) | 241 |
| Prior service cost (credit) arising during period | 6 | 22 | (2) |
| Amortization of prior service credit | 228 | 344 | 529 |
| Other | (93) | 105 | (116) |
| Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | (414) | (1,392) | 656 |
| Tax expense (benefit) | (97) | (326) | 263 |
| Other Comprehensive Income (Loss), Defined Benefit Plan, after Reclassification Adjustment, after Tax | (317) | (1,066) | 393 |
| Unrealized gain (loss) on available-for-sale securities | |||
| Unrealized holding gain arising during period | 0 | 0 | 5 |
| Reclassification adjustments for gain included in Other income, net | 0 | 0 | 566 |
| Other Comprehensive Income (Loss), ASU 2016-01 adoption impact on Securities Arising During Period | 0 | (5) | 0 |
| Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Portion Attributable to Parent | 0 | (5) | (561) |
| Tax expense (benefit) | 0 | 0 | (213) |
| Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent | 0 | (5) | (348) |
| Change in unrealized cash flow hedging | |||
| Unrealized cash flow hedging gain (loss) arising during period | (33) | (307) | 347 |
| Gain (Loss) reclassified into Product sales | (51) | 16 | 39 |
| Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Portion Attributable to Parent | 18 | (323) | 308 |
| Tax expense (benefit) | 11 | (78) | 74 |
| Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent | 7 | (245) | 234 |
| Other comprehensive (loss) income, net of tax | (85) | (1,838) | 889 |
| Comprehensive income | 5,863 | 3,816 | 5,809 |
| Less: Comprehensive income attributable to noncontrolling interest | 399 | 355 | 448 |
| Comprehensive income atrributable to common shareowners | 5,464 | 3,461 | 5,361 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2019 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 6, 2020) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Operating Activities of Continuing Operations: | |||
| Income from continuing operations | $ 5,948 | 5,654 | 4,920 |
| Adjustments to reconcile income from continuing operations to net cash flows provided by operating activities of continuing operations: | |||
| Depreciation and amortization | 3,783 | 2,433 | 2,140 |
| Deferred income tax provision | 35 | 735 | 62 |
| Stock compensation cost | 356 | 251 | 192 |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | (525) | (393) | (158) |
| Portfolio separation tax cost | 634 | 0 | 0 |
| Gain on sale of Taylor Company | 0 | 799 | 0 |
| Change in: | |||
| Accounts receivable | (419) | 2,426 | 448 |
| Contract assets, current | 307 | 604 | 0 |
| Inventory | 1,216 | 537 | 1,074 |
| Other current assets | 309 | (161) | 101 |
| Accounts payable and accrued liabilities | 1,229 | 2,446 | 1,571 |
| Contract liabilities, current | 359 | 205 | 0 |
| Income Taxes | (406) | (195) | 1,579 |
| Global pension contributions | 118 | 147 | 2,112 |
| Canadian Government Settlement | (38) | (429) | (285) |
| Other operating activities, net | 961 | 33 | 655 |
| Net Cash Provided by Operating Activities, Continuing Operations | 8,883 | 6,322 | 5,631 |
| Investing Activities of Continuing Operations: | |||
| Capital expenditures | 2,256 | 1,902 | 2,014 |
| Increase in customer financing assets | 787 | 988 | 1,197 |
| Decrease in customer financing assets | 129 | 606 | 222 |
| Investments in businesses | 56 | 15,398 | 231 |
| Dispositions of businesses | 138 | 1,105 | 70 |
| Proceeds from the sale of the investment in Watsco Inc. | 0 | 0 | 596 |
| Increase in collaboration intangible assets | 351 | 400 | 380 |
| Payments (receipts) from settlements of derivative contracts | (336) | (143) | 317 |
| Other investing activities, net | 245 | 139 | (232) |
| Net cash flows used in investing activities of continuing operations | (3,092) | (16,973) | (3,019) |
| Financing Activities of Continuing Operations: | |||
| Issuance of long-term debt | 88 | 13,455 | 4,954 |
| Repayment of long-term debt | 2,830 | 2,520 | 1,604 |
| (Decrease) increase in short-term borrowings, net | 927 | (356) | (271) |
| Common Stock issued under employee stock plans | 27 | 36 | 31 |
| Dividends paid on Common Stock | 2,442 | 2,170 | 2,074 |
| Repurchase of Common Stock | 151 | 325 | 1,453 |
| Other financing activities, net | (183) | (155) | (576) |
| Net cash flows provided by (used in) financing activities of continuing operations | (4,564) | 7,965 | (993) |
| Effect of foreign exchange rate changes on cash and cash equivalents | (19) | (120) | 210 |
| Net (decrease) increase in cash and cash equivalents | 1,208 | (2,806) | 1,829 |
| Cash and Cash Equivalents, beginning of period | 6,212 | 9,018 | |
| Cash and Cash Equivalents, end of period | 7,420 | 6,212 | 9,018 |
| Cash and cash equivalents of continuing operations, end of year | 7,378 | 6,152 | 8,985 |
| Supplemental Disclosure of Cash Flow Information: | |||
| Interest paid, net of amounts capitalized | 1,801 | 1,027 | 974 |
| Income taxes paid, net of refunds | 1,768 | 1,714 | 1,326 |
| Restricted Cash And Cash Equivalents | 42 | 60 | 33 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
RAYTHEON TECHNOLOGIES CORP | ||
Ticker: RTX Fiscal Year: 2019 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 6, 2020) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| Assets | ||
| Cash and cash equivalents | $ 7,378 | 6,152 |
| Accounts receivable (net of allowance for doubtful accounts of $389 and $488) | 13,524 | 14,271 |
| Contract with Customer, Asset, Net, Current | 4,184 | 3,486 |
| Inventory, net | 10,950 | 10,083 |
| Other assets, current | 1,461 | 1,511 |
| Total Current Assets | 37,497 | 35,503 |
| Customer financing assets | 3,477 | 3,023 |
| Future income tax benefits | 1,611 | 1,646 |
| Fixed assets, net | 12,755 | 12,297 |
| Operating Lease, Right-of-Use Asset | 2,599 | 0 |
| Goodwill | 48,063 | 48,112 |
| Intangible assets, net | 26,046 | 26,424 |
| Other assets | 7,668 | 7,206 |
| Total Assets | 139,716 | 134,211 |
| Liabilities and Equity | ||
| Short-term borrowings | 2,364 | 1,469 |
| Accounts payable | 10,809 | 11,080 |
| Accrued liabilities | 11,737 | 10,223 |
| Contract with Customer, Liability, Current | 6,180 | 5,720 |
| Long-term debt currently due | 3,496 | 2,876 |
| Total Current Liabilities | 34,586 | 31,368 |
| Long-term debt | 37,788 | 41,192 |
| Future pension and postretirement benefit obligations | 3,502 | 4,018 |
| Operating Lease, Liability, Noncurrent | 2,144 | 0 |
| Contract with Customer, Liability, Noncurrent | 5,732 | 5,069 |
| Other long-term liabilities | 11,638 | 11,845 |
| Total Liabilities | 93,492 | |
| Redeemable noncontrolling interest | 109 | |
| Shareowners' Equity: | ||
| Capital Stock: | ||
| Preferred Stock, $1 par value; 250,000 shares authorized; None issued or outstanding | 0 | 0 |
| Common Stock, $1 par value; 4,000,000 shares authorized; 1,450,845 and 1,446,961 shares issued | 23,019 | 22,514 |
| Treasury Stock 586,479 and 585,479 common shares at average cost | 32,626 | 32,482 |
| Retained earnings | 61,594 | 57,823 |
| Unearned ESOP shares | 64 | 76 |
| Total Accumulated other comprehensive loss | (10,149) | (9,333) |
| Total Shareowners' Equity | 41,774 | 38,446 |
| Noncontrolling interest | 2,457 | 2,164 |
| Total Equity | 44,231 | 40,610 |
| Total Liabilities and Equity | 139,716 | 134,211 |
| Allowance for doubtful accounts | 389 | 488 |
| Preferred Stock, par value | 1 | |
| Preferred Stock. shares authorized | 250,000 | |
| Common Stock, par value | 1 | |
| Common Stock, shares authorized | 4,000,000 | |
| Common Stock, Shares, Issued | 1,450,845 | 1,446,961 |
| Treasury Stock, shares | 586,479 | 585,479 |
| External Links | |
| RAYTHEON TECHNOLOGIES CORP (RTX) Fiscal Year 2019 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |