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: 2013 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 6, 2014) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Consolidated Statement of Operations | |||
| Net Sales: | |||
| Product sales | $ 45,253 | 40,729 | 38,882 |
| Service sales | 17,373 | 16,979 | 16,872 |
| Total net sales | 62,626 | 57,708 | 55,754 |
| Costs and Expenses: | |||
| Cost of products sold | 34,063 | 31,094 | 29,252 |
| Cost of services sold | 11,258 | 11,059 | 11,117 |
| Research and development | 2,529 | 2,371 | 1,951 |
| Selling, general and administrative | 6,718 | 6,452 | 6,161 |
| Total costs and expenses | 54,568 | 50,976 | 48,481 |
| Other income, net | 1,151 | 952 | 573 |
| Operating profit | 9,209 | 7,684 | 7,846 |
| Interest expense, net | 897 | 773 | 496 |
| Income from continuing operations before income taxes | 8,312 | 6,911 | 7,350 |
| Income tax expense | 2,238 | 1,711 | 2,134 |
| Net income from continuing operations | 6,074 | 5,200 | 5,216 |
| Less: Noncontrolling interest in subsidiaries' earnings from continuing operations | 388 | 353 | 385 |
| Income from continuing operations attributable to common shareowners | 5,686 | 4,847 | 4,831 |
| Discontinued operations (Note 3): | |||
| Income (loss) from operations | 63 | (998) | 255 |
| (Loss) gain on disposal | (33) | 2,030 | 0 |
| Income tax benefit (expense) | 5 | (742) | (97) |
| Net income from discontinued operations | 35 | 290 | 158 |
| Less: Noncontrolling interest in subsidiaries' earnings from discontinued operations | 0 | 7 | 10 |
| Income from discontinued operations attributable to common shareowners | 35 | 283 | 148 |
| Net income attributable to common shareowners | 5,721 | 5,130 | 4,979 |
| Earnings Per Share of Common Stock - Basic: | |||
| Net income from continuing operations attributable to common shareowners | 6.31 | 5.41 | 5.41 |
| Net income attributable to common shareowners | 6.35 | 5.73 | 5.58 |
| Earnings Per Share of Common Stock - Diluted: | |||
| Net income from continuing operations attributable to common shareowners | 6.21 | 5.35 | 5.33 |
| Net income attributable to common shareowners | 6.25 | 5.66 | 5.49 |
| Dividends Per Share of Common Stock | 2.19 | 2.03 | 1.86 |
| Weighted average number of shares outstanding: | |||
| Basic shares | 901,000 | 895,200 | 892,300 |
| Diluted shares | 915,100 | 906,600 | 906,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2013 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 6, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net income from continuing operations | $ 6,074 | 5,200 | 5,216 |
| Net income from discontinued operations | 35 | 290 | 158 |
| Net income | 6,109 | 5,490 | 5,374 |
| Other comprehensive income (loss), net of tax (expense) benefit: | |||
| Foreign currency translation adjustments | |||
| Foreign currency translation adjustments arising during the period | (523) | 556 | (278) |
| Less: reclassification adjustments for loss (gain) on sale of an investment in a foreign entity recognized in net income | 25 | (100) | 115 |
| Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Parent | (498) | 456 | (163) |
| Change in pension and post-retirement benefit plans | |||
| Net actuarial gain (loss) arising during the period | 3,987 | (1,542) | (2,692) |
| Prior service (cost) credit arising during period | (225) | 211 | (21) |
| Other | 50 | (3) | (9) |
| Less: amortization of actuarial loss, prior service cost, and transition obligation | 906 | 689 | 441 |
| Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | 4,718 | (645) | (2,281) |
| Tax (expense) benefit | (1,735) | 205 | 796 |
| Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent | 2,983 | (440) | (1,485) |
| Unrealized gain (loss) on available-for-sale securities | |||
| Unrealized holding gain arising during period | 332 | 91 | 78 |
| Less: reclassification adjustments for gain included in net income | (91) | (123) | (27) |
| Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Portion Attributable to Parent | 241 | (32) | 51 |
| Tax (expense) benefit | (90) | 13 | (21) |
| Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent | 151 | (19) | 30 |
| Change in unrealized cash flow hedging | |||
| Unrealized cash flow hedging (loss) gain arising during period | (136) | 88 | (46) |
| Less: loss (gain) reclassified into Product sales | 25 | (31) | (96) |
| Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Portion Attributable to Parent | (111) | 57 | (142) |
| Tax benefit (expense) | 29 | (4) | 36 |
| Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent | (82) | 53 | (106) |
| Other comprehensive income (loss), net of tax | 2,554 | 50 | (1,724) |
| Comprehensive income | 8,663 | 5,540 | 3,650 |
| Less: comprehensive income attributable to noncontrolling interest | (374) | (368) | (392) |
| Comprehensive income atrributable to common shareowners | 8,289 | 5,172 | 3,258 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2013 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 6, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Consolidated Statement of Cash Flows | |||
| Operating Activities of Continuing Operations: | |||
| Net income attributable to common shareowners | $ 5,721 | 5,130 | 4,979 |
| Noncontrolling interest in subsidiaries' earnings | 388 | 360 | 395 |
| Net income | 6,109 | 5,490 | 5,374 |
| Less: Net income from discontinued operations | 35 | 290 | 158 |
| Net income from continuing operations | 6,074 | 5,200 | 5,216 |
| Adjustments to reconcile income from continuing operations to net cash flows provided by operating activities of continuing operations: | |||
| Depreciation and amortization | 1,821 | 1,524 | 1,263 |
| Deferred income tax provision | 242 | 120 | 334 |
| Stock compensation cost | 275 | 210 | 221 |
| Change in: | |||
| Accounts receivable | (531) | (165) | (697) |
| Inventories and contracts in progress | (1,096) | (539) | (330) |
| Other current assets | 74 | (4) | (24) |
| Accounts payable and accrued liabilities | 1,354 | 811 | 760 |
| Global pension contributions | (108) | (430) | (551) |
| Other operating activities, net | (600) | (122) | 268 |
| Net cash flows provided by operating activities of continuing operations | 7,505 | 6,605 | 6,460 |
| Investing Activities of Continuing Operations: | |||
| Capital expenditures | (1,688) | (1,389) | (929) |
| Increase in customer financing assets | (245) | (100) | (42) |
| Decrease in customer financing assets | 110 | 75 | 92 |
| Investments in businesses | (151) | (16,026) | (357) |
| Dispositions of businesses | 1,560 | 425 | 494 |
| Increase in collaboration intangible assets | (722) | (1,543) | 0 |
| Other investing activities, net | (328) | (237) | 70 |
| Net cash flows used in investing activities of continuing operations | (1,464) | (18,795) | (672) |
| Financing Activities of Continuing Operations: | |||
| Issuance of long-term debt | 92 | 10,899 | 59 |
| Repayment of long-term debt | (2,862) | (842) | (616) |
| (Decrease) increase in short-term borrowings, net | (113) | (214) | 562 |
| Common Stock issued under employee stock plans | 378 | 522 | 226 |
| Dividends paid on Common Stock | (1,908) | (1,752) | (1,602) |
| Repurchase of Common Stock | (1,200) | 0 | (2,175) |
| Other financing activities, net | (327) | (592) | (437) |
| Net cash flows (used in) provided by financing activities of continuing operations | (5,940) | 8,021 | (3,983) |
| Discontinued Operations: | |||
| Net cash (used in) provided by operating activities | (628) | 41 | 130 |
| Net cash provided by (used in) investing activities | 351 | 2,974 | (35) |
| Net cash used in financing activities | 0 | 0 | (22) |
| Net cash flows (used in) provided by discontinued operations | (277) | 3,015 | 73 |
| Effect of foreign exchange rate changes on cash and cash equivalents | (41) | 30 | (1) |
| Net (decrease) increase in cash and cash equivalents | (217) | (1,124) | 1,877 |
| Cash and cash equivalents, beginning of year | 4,836 | 5,960 | |
| Cash and cash equivalents, end of year | 4,619 | 4,836 | 5,960 |
| Less: Cash and cash equivalents of businesses held for sale | 0 | 17 | 0 |
| Cash and cash equivalents | 4,619 | 4,819 | 5,960 |
| Supplemental Disclosure of Cash Flow Information: | |||
| Interest paid, net of amounts capitalized | 1,047 | 725 | 642 |
| Income taxes paid, net of refunds | 2,789 | 1,772 | 1,432 |
| Non-cash investing and financing activities include: | |||
| Contributions of UTC Common Stock to domestic defined benefit pension plans | 0 | 0 | 450 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
RAYTHEON TECHNOLOGIES CORP | ||
Ticker: RTX Fiscal Year: 2013 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 6, 2014) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| Consolidated Balance Sheet | ||
| Assets | ||
| Cash and cash equivalents | $ 4,619 | 4,819 |
| Accounts receivable (net of allowance for doubtful accounts of $488 and $443) | 11,458 | 11,099 |
| Inventories and contracts in progress, net | 10,330 | 9,537 |
| Future income tax benefits, current | 1,964 | 1,611 |
| Assets held for sale | 0 | 1,071 |
| Other assets, current | 1,071 | 1,473 |
| Total Current Assets | 29,442 | 29,610 |
| Customer financing assets | 1,156 | 1,150 |
| Future income tax benefits | 1,236 | 1,599 |
| Fixed assets, net | 8,866 | 8,518 |
| Goodwill | 28,168 | 27,801 |
| Intangible assets, net | 15,521 | 15,189 |
| Other assets | 6,205 | 5,542 |
| Total Assets | 90,594 | 89,409 |
| Liabilities and Equity | ||
| Short-term borrowings | 388 | 503 |
| Accounts payable | 6,965 | 6,431 |
| Accrued liabilities | 15,335 | 15,310 |
| Liabilities held for sale | 0 | 421 |
| Long-term debt currently due | 112 | 1,121 |
| Total Current Liabilities | 22,800 | 23,786 |
| Long-term debt | 19,741 | 21,597 |
| Future pension and postretirement benefit obligations | 3,444 | 7,520 |
| Other long-term liabilities | 11,279 | 9,199 |
| Total Liabilities | 57,264 | 62,102 |
| Commitments and contingent liabilities (Notes 5 and 17) | ||
| Redeemable noncontrolling interest | 111 | 238 |
| 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; 1,417,724 and 1,407,780 shares issued | 14,764 | 13,976 |
| Treasury Stock - 501,038 and 488,931 common shares at average cost | (20,431) | (19,251) |
| Retained earnings | 40,539 | 36,776 |
| Unearned ESOP shares | (126) | (139) |
| Total Accumulated other comprehensive loss | (2,880) | (5,448) |
| Total Shareowners' Equity | 31,866 | 25,914 |
| Noncontrolling interest | 1,353 | 1,155 |
| Total Equity | 33,219 | 27,069 |
| Total Liabilities and Equity | 90,594 | 89,409 |
| External Links | |
| RAYTHEON TECHNOLOGIES CORP (RTX) Fiscal Year 2013 | |
| 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 |