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: 2014 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 5, 2015) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Consolidated Statement of Operations | |||
| Net Sales: | |||
| Product sales | $ 47,632 | 45,253 | 40,729 |
| Service sales | 17,468 | 17,373 | 16,979 |
| Net Sales | 65,100 | 62,626 | 57,708 |
| Costs and Expenses: | |||
| Cost of products sold | 36,044 | 34,063 | 31,094 |
| Cost of services sold | 11,403 | 11,258 | 11,059 |
| Research and development | 2,635 | 2,529 | 2,371 |
| Selling, general and administrative | 6,500 | 6,718 | 6,452 |
| Total costs and expenses | 56,582 | 54,568 | 50,976 |
| Other income, net | 1,251 | 1,151 | 952 |
| Operating profit | 9,769 | 9,209 | 7,684 |
| Interest expense, net | 882 | 897 | 773 |
| Income from continuing operations before income taxes | 8,887 | 8,312 | 6,911 |
| Income tax expense | 2,264 | 2,238 | 1,711 |
| Net income from continuing operations | 6,623 | 6,074 | 5,200 |
| Less: Noncontrolling interest in subsidiaries' earnings from continuing operations | 403 | 388 | 353 |
| Income from continuing operations attributable to common shareowners | 6,220 | 5,686 | 4,847 |
| Discontinued operations (Note 3): | |||
| Income (loss) from operations | 0 | 63 | (998) |
| (Loss) gain on disposal | 0 | (33) | 2,030 |
| Income tax benefit (expense) | 0 | 5 | (742) |
| Net income from discontinued operations | 0 | 35 | 290 |
| Less: Noncontrolling interest in subsidiaries' earnings from discontinued operations | 0 | 0 | 7 |
| Income from discontinued operations attributable to common shareowners | 0 | 35 | 283 |
| Net income attributable to common shareowners | 6,220 | 5,721 | 5,130 |
| Earnings Per Share of Common Stock - Basic: | |||
| Net income from continuing operations attributable to common shareowners | 6.92 | 6.31 | 5.41 |
| Net income attributable to common shareowners | 6.92 | 6.35 | 5.73 |
| Earnings Per Share of Common Stock - Diluted: | |||
| Net income from continuing operations attributable to common shareowners | 6.82 | 6.21 | 5.35 |
| Net income attributable to common shareowners | 6.82 | 6.25 | 5.66 |
| Dividends Per Share of Common Stock | 2.36 | 2.19 | 2.03 |
| Weighted average number of shares outstanding: | |||
| Basic shares | 898,300 | 901,000 | 895,200 |
| Diluted shares | 911,600 | 915,100 | 906,600 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2014 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 5, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net income from continuing operations | $ 6,623 | 6,074 | 5,200 |
| Net income from discontinued operations | 0 | 35 | 290 |
| Net income | 6,623 | 6,109 | 5,490 |
| Other comprehensive income (loss), net of tax (expense) benefit: | |||
| Foreign currency translation adjustments | |||
| Foreign currency translation adjustments arising during period | (1,302) | (523) | 556 |
| Reclassification adjustments for loss (gain) on sale of an investment in a foreign entity recognized in net income | 7 | 25 | (100) |
| Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax, Portion Attributable to Parent | (1,295) | (498) | 456 |
| Change in pension and post-retirement benefit plans | |||
| Net actuarial (loss) gain arising during the period | (4,362) | 3,987 | (1,542) |
| Prior service (cost) credit arising during period | (5) | (225) | 211 |
| Other | 121 | 50 | (3) |
| Less: amortization of actuarial loss, prior service cost, and transition obligation | 416 | 906 | 689 |
| Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | (3,830) | 4,718 | (645) |
| Tax (expense) benefit | 1,388 | (1,735) | 205 |
| Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent | (2,442) | 2,983 | (440) |
| Unrealized gain (loss) on available-for-sale securities | |||
| Unrealized holding gain arising during period | 35 | 332 | 91 |
| Less: reclassification adjustments for gain included in Other income, net | (20) | (91) | (123) |
| Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Portion Attributable to Parent | 15 | 241 | (32) |
| Tax (expense) benefit | (3) | (90) | 13 |
| Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent | 12 | 151 | (19) |
| Change in unrealized cash flow hedging | |||
| Unrealized cash flow hedging (loss) gain arising during period | (263) | (134) | 88 |
| Loss (gain) reclassified into Product sales | 96 | 25 | (31) |
| Gain reclassified into Other income, net | 0 | (2) | 0 |
| Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Portion Attributable to Parent | (167) | (111) | 57 |
| Tax benefit (expense) | 37 | 29 | (4) |
| Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent | (130) | (82) | 53 |
| Other comprehensive income (loss), net of tax | (3,855) | 2,554 | 50 |
| Comprehensive income | 2,768 | 8,663 | 5,540 |
| Less: Comprehensive income attributable to noncontrolling interest | (329) | (374) | (368) |
| Comprehensive income atrributable to common shareowners | 2,439 | 8,289 | 5,172 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2014 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 5, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Operating Activities of Continuing Operations: | |||
| Net income attributable to common shareowners | $ 6,220 | 5,721 | 5,130 |
| Noncontrolling interest in subsidiaries' earnings | 403 | 388 | 360 |
| Net income | 6,623 | 6,109 | 5,490 |
| Less: Net income from discontinued operations | 0 | 35 | 290 |
| Net income from continuing operations | 6,623 | 6,074 | 5,200 |
| Adjustments to reconcile income from continuing operations to net cash flows provided by operating activities of continuing operations: | |||
| Depreciation and amortization | 1,907 | 1,821 | 1,524 |
| Deferred income tax provision | 376 | 242 | 120 |
| Stock compensation cost | 240 | 275 | 210 |
| Change in: | |||
| Accounts receivable | 7 | (531) | (165) |
| Inventories and contracts in progress | (1,091) | (1,096) | (539) |
| Other current assets | (123) | 74 | (4) |
| Accounts payable and accrued liabilities | (40) | 1,354 | 811 |
| Global pension contributions | (517) | (108) | (430) |
| Other operating activities, net | (46) | (600) | (122) |
| Net cash flows provided by operating activities of continuing operations | 7,336 | 7,505 | 6,605 |
| Investing Activities of Continuing Operations: | |||
| Capital expenditures | (1,711) | (1,688) | (1,389) |
| Increase in customer financing assets | (202) | (245) | (100) |
| Decrease in customer financing assets | 331 | 110 | 75 |
| Investments in businesses | (402) | (151) | (16,026) |
| Dispositions of businesses | 344 | 1,560 | 425 |
| Increase in collaboration intangible assets | (593) | (722) | (1,543) |
| Other investing activities, net | (72) | (328) | (237) |
| Net cash flows used in investing activities of continuing operations | (2,305) | (1,464) | (18,795) |
| Financing Activities of Continuing Operations: | |||
| Issuance of long-term debt | 99 | 92 | 10,899 |
| Repayment of long-term debt | (305) | (2,862) | (842) |
| Decrease in short-term borrowings, net | (346) | (113) | (214) |
| Common Stock issued under employee stock plans | 187 | 378 | 522 |
| Dividends paid on Common Stock | (2,048) | (1,908) | (1,752) |
| Repurchase of Common Stock | (1,500) | (1,200) | 0 |
| Other financing activities, net | (346) | (327) | (592) |
| Net cash flows (used in) provided by financing activities of continuing operations | (4,259) | (5,940) | 8,021 |
| Discontinued Operations: | |||
| Net cash (used in) provided by operating activities | 0 | (628) | 41 |
| Net cash provided by investing activities | 0 | 351 | 2,974 |
| Net cash flows (used in) provided by discontinued operations | 0 | (277) | 3,015 |
| Effect of foreign exchange rate changes on cash and cash equivalents | (156) | (41) | 30 |
| Net increase (decrease) in cash and cash equivalents | 616 | (217) | (1,124) |
| Cash and cash equivalents, beginning of year | 4,619 | 4,836 | |
| Cash and cash equivalents, end of year | 5,235 | 4,619 | 4,836 |
| Less: Cash and cash equivalents of businesses held for sale | 0 | 0 | 17 |
| Cash and cash equivalents of continuing operations, end of year | 5,235 | 4,619 | 4,819 |
| Supplemental Disclosure of Cash Flow Information: | |||
| Interest paid, net of amounts capitalized | 1,077 | 1,047 | 725 |
| Income taxes paid, net of refunds | 2,024 | 2,789 | 1,772 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
RAYTHEON TECHNOLOGIES CORP | ||
Ticker: RTX Fiscal Year: 2014 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 5, 2015) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| Assets | ||
| Cash and cash equivalents | $ 5,235 | 4,619 |
| Accounts receivable (net of allowance for doubtful accounts of $485 and $488) | 11,317 | 11,458 |
| Inventories and contracts in progress, net | 9,865 | 10,330 |
| Future income tax benefits, current | 1,931 | 1,964 |
| Other assets, current | 1,410 | 1,071 |
| Total Current Assets | 29,758 | 29,442 |
| Customer financing assets | 978 | 1,156 |
| Future income tax benefits | 1,494 | 1,236 |
| Fixed assets, net | 9,276 | 8,866 |
| Goodwill | 27,796 | 28,168 |
| Intangible assets, net | 15,560 | 15,521 |
| Other assets | 6,427 | 6,205 |
| Total Assets | 91,289 | 90,594 |
| Liabilities and Equity | ||
| Short-term borrowings | 126 | 388 |
| Accounts payable | 6,967 | 6,965 |
| Accrued liabilities | 14,006 | 15,335 |
| Long-term debt currently due | 1,796 | 112 |
| Total Current Liabilities | 22,895 | 22,800 |
| Long-term debt | 17,872 | 19,741 |
| Future pension and postretirement benefit obligations | 6,683 | 3,444 |
| Other long-term liabilities | 11,135 | 11,279 |
| Total Liabilities | 58,585 | 57,264 |
| Commitments and contingent liabilities (Notes 5 and 17) | ||
| Redeemable noncontrolling interest | 140 | 111 |
| 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; 1,423,684 and 1,417,724 shares issued | 15,300 | 14,764 |
| Treasury Stock 514,309 and 501,038 common shares at average cost | (21,922) | (20,431) |
| Retained earnings | 44,611 | 40,539 |
| Unearned ESOP shares | (115) | (126) |
| Total Accumulated other comprehensive loss | (6,661) | (2,880) |
| Total Shareowners' Equity | 31,213 | 31,866 |
| Noncontrolling interest | 1,351 | 1,353 |
| Total Equity | 32,564 | 33,219 |
| Total Liabilities and Equity | 91,289 | 90,594 |
| External Links | |
| RAYTHEON TECHNOLOGIES CORP (RTX) Fiscal Year 2014 | |
| 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 |