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: 2016 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 9, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Consolidated Statement of Operations | |||
| Net Sales: | |||
| Product sales | $ 40,735 | 39,801 | 41,545 |
| Service sales | 16,509 | 16,297 | 16,355 |
| Net Sales | 57,244 | 56,098 | 57,900 |
| Costs and Expenses: | |||
| Cost of products sold | 30,325 | 29,771 | 30,367 |
| Cost of services sold | 11,135 | 10,660 | 10,531 |
| Research and development | 2,337 | 2,279 | 2,475 |
| Selling, general and administrative | 6,060 | 5,886 | 6,172 |
| Total costs and expenses | 49,857 | 48,596 | 49,545 |
| Other Income | 785 | 1,238 | |
| Other Expenses | 211 | ||
| Operating profit | 8,172 | 7,291 | 9,593 |
| Interest Expense, net | 1,039 | 824 | 881 |
| Income from continuing operations before income taxes | 7,133 | 6,467 | 8,712 |
| Income tax expense | 1,697 | 2,111 | 2,244 |
| Net income from continuing operations | 5,436 | 4,356 | 6,468 |
| Less: Noncontrolling interest in subsidiaries' earnings from continuing operations | 371 | 360 | 402 |
| Income from continuing operations attributable to common shareowners | 5,065 | 3,996 | 6,066 |
| Discontinued operations (Note 3): | |||
| Income from operations | 1 | 252 | 175 |
| Gain on disposal | 13 | 6,042 | 0 |
| Income tax expense | 24 | 2,684 | 20 |
| Net (loss) income from discontinued operations | (10) | 3,610 | 155 |
| Less: Noncontrolling interest in subsidiaries' earnings (loss) from discontinued operations | 0 | (2) | 1 |
| (Loss) Income from discontinued operations attributable to common shareowners | (10) | 3,612 | 154 |
| Net income attributable to common shareowners | 5,055 | 7,608 | 6,220 |
| Earnings Per Share of Common Stock - Basic: | |||
| Net income from continuing operations attributable to common shareowners | 6.19 | 4.58 | 6.75 |
| Net income attributable to common shareowners | 6.18 | 8.72 | 6.92 |
| Earnings Per Share of Common Stock - Diluted: | |||
| Net income from continuing operations attributable to common shareowners | 6.13 | 4.53 | 6.65 |
| Net income attributable to common shareowners | 6.12 | 8.61 | 6.82 |
| Dividends Per Share of Common Stock | 2.62 | 2.56 | 2.36 |
| Weighted average number of shares outstanding: | |||
| Basic shares | 818,200,000 | 872,700,000 | 898,300,000 |
| Diluted shares | 826,100,000 | 883,200,000 | 911,600,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2016 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 9, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income from continuing operations | $ 5,436 | 4,356 | 6,468 |
| Net (loss) income from discontinued operations | (10) | 3,610 | 155 |
| Net income | 5,426 | 7,966 | 6,623 |
| Other comprehensive loss, net of tax: | |||
| Foreign currency translation adjustments | |||
| Foreign currency translation adjustments arising during period | (1,089) | (1,502) | (1,302) |
| Reclassification adjustments for from sale of an investment in a foreign entity recognized in net income | 0 | (42) | (7) |
| Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax | (1,089) | (1,460) | (1,295) |
| Change in pension and post-retirement benefit plans | |||
| Net actuarial loss arising during period | (785) | (284) | (4,362) |
| Prior service cost arising during period | 13 | 37 | 5 |
| Other | 542 | 326 | 121 |
| Amounts reclassified, pretax - Pension | 535 | 867 | 416 |
| Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent | (279) | (872) | 3,830 |
| Tax (expense) benefit | (189) | (298) | 1,388 |
| Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | (90) | (574) | 2,442 |
| Unrealized gain (loss) on available-for-sale securities | |||
| Unrealized holding gain arising during period | 190 | 28 | 35 |
| Reclassification adjustments for gain included in Other income, net | 94 | 54 | 20 |
| Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Portion Attributable to Parent | 96 | (26) | 15 |
| Tax (expense) benefit | 36 | (11) | 3 |
| Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent | 60 | (15) | 12 |
| Change in unrealized cash flow hedging | |||
| Unrealized cash flow hedging gain (loss) arising during period | 75 | (415) | (263) |
| Loss reclassified into Product sales | (171) | (234) | (96) |
| Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Portion Attributable to Parent | 246 | (181) | (167) |
| Tax (expense) benefit | 69 | (51) | (37) |
| Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent | 177 | (130) | (130) |
| Other comprehensive loss, net of tax | (762) | (1,031) | (3,855) |
| Comprehensive income | 4,664 | 6,935 | 2,768 |
| Less: Comprehensive income attributable to noncontrolling interest | 324 | 285 | 329 |
| Comprehensive income atrributable to common shareowners | 4,340 | 6,650 | 2,439 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2016 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 9, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Operating Activities of Continuing Operations: | |||
| Income from continuing operations | $ 5,436 | 4,356 | 6,468 |
| Adjustments to reconcile income from continuing operations to net cash flows provided by operating activities of continuing operations: | |||
| Depreciation and amortization | 1,962 | 1,863 | 1,820 |
| Deferred income tax provision | 398 | 662 | 403 |
| Stock compensation cost | 152 | 158 | 219 |
| Canadian Government Settlement | (237) | 867 | 0 |
| Change in: | |||
| Accounts receivable | 941 | 438 | (111) |
| Inventories and contracts in progress | 719 | 766 | 636 |
| Other current assets | (49) | 55 | 115 |
| Accounts payable and accrued liabilities | 450 | 490 | (89) |
| Global pension contributions | 303 | 147 | 517 |
| Other operating activities, net | (165) | 235 | 685 |
| Net Cash Provided by Operating Activities, Continuing Operations | 6,412 | 6,755 | 6,979 |
| Investing Activities of Continuing Operations: | |||
| Capital expenditures | 1,699 | 1,652 | 1,594 |
| Increase in customer financing assets | 438 | 364 | 202 |
| Decrease in customer financing assets | 217 | 117 | 331 |
| Investments in businesses | 710 | 538 | 402 |
| Dispositions of businesses | 211 | 200 | 344 |
| Increase in collaboration intangible assets | 388 | 437 | 593 |
| Receipts from settlements of derivative contracts | (249) | (160) | (93) |
| Other investing activities, net | (49) | 280 | (56) |
| Net cash flows used in investing activities of continuing operations | (2,509) | (2,794) | (1,967) |
| Financing Activities of Continuing Operations: | |||
| Issuance of long-term debt | 6,469 | 1,744 | 98 |
| Repayment of long-term debt | 2,452 | 1,764 | 304 |
| (Decrease) increase in short-term borrowings, net | (331) | 795 | (346) |
| Proceeds from Issuance of Common Stock - Equity unit settlement | 0 | 1,100 | 0 |
| Common Stock issued under employee stock plans | 13 | 41 | 187 |
| Dividends paid on Common Stock | 2,069 | 2,184 | 2,048 |
| Repurchase of Common Stock | 2,254 | 10,000 | 1,500 |
| Other financing activities, net | (564) | (508) | (336) |
| Net cash flows used in financing activities of continuing operations | (1,188) | (10,776) | (4,249) |
| Discontinued Operations: | |||
| Net cash (used in) provided by operating activities | (2,532) | (372) | 342 |
| Net cash provided by investing activities | 6 | 9,000 | (113) |
| Cash used in financing activities, discontinued operations | 0 | (9) | (12) |
| Net cash flows (used in) provided by discontinued operations | (2,526) | 8,619 | 217 |
| Effect of foreign exchange rate changes on cash and cash equivalents | (120) | (174) | (156) |
| Net increase (decrease) in cash and cash equivalents | 69 | 1,630 | 824 |
| Cash and Cash Equivalents, beginning of period | 7,120 | 5,490 | |
| Cash and Cash Equivalents, end of period | 7,189 | 7,120 | 5,490 |
| Less: Cash and cash equivalents of businesses held for sale | 0 | 0 | 6 |
| Less: Restricted cash, included in Other assets | 32 | 45 | 255 |
| Cash and cash equivalents of continuing operations, end of year | 7,157 | 7,075 | 5,229 |
| Supplemental Disclosure of Cash Flow Information: | |||
| Interest paid, net of amounts capitalized | 1,157 | 1,057 | 1,076 |
| Income taxes paid, net of refunds | 4,096 | 2,060 | 2,024 |
| Contributions of UTC Common Stock to domestic defined benefit pension plans | 0 | 250 | 0 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
RAYTHEON TECHNOLOGIES CORP | ||
Ticker: RTX Fiscal Year: 2016 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 9, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Cash and cash equivalents | $ 7,157 | 7,075 |
| Accounts receivable (net of allowance for doubtful accounts of $450 and $504) | 11,481 | 10,653 |
| Inventories and contracts in progress, net | 8,704 | 8,135 |
| Other assets, current | 1,208 | 843 |
| Total Current Assets | 28,550 | 26,706 |
| Customer financing assets | 1,398 | 1,018 |
| Future income tax benefits | 1,809 | 1,961 |
| Fixed assets, net | 9,158 | 8,732 |
| Goodwill | 27,059 | 27,301 |
| Intangible assets, net | 15,684 | 15,603 |
| Other assets | 6,048 | 6,163 |
| Total Assets | 89,706 | 87,484 |
| Liabilities and Equity | ||
| Short-term borrowings | 601 | 926 |
| Accounts payable | 7,483 | 6,875 |
| Accrued liabilities | 12,219 | 14,638 |
| Long-term debt currently due | 1,603 | 179 |
| Total Current Liabilities | 21,906 | 22,618 |
| Long-term debt | 21,697 | 19,320 |
| Future pension and postretirement benefit obligations | 5,612 | 6,022 |
| Other long-term liabilities | 11,026 | 10,558 |
| Total Liabilities | 60,241 | 58,518 |
| Commitments and contingent liabilities (Notes 5 and 18) | ||
| Redeemable noncontrolling interest | 296 | 122 |
| 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; 1,440,982 and 1,438,497 shares issued | 17,285 | 16,033 |
| Treasury Stock 632,281 and 600,153 common shares at average cost | 34,150 | 30,907 |
| Retained earnings | 52,873 | 49,956 |
| Unearned ESOP shares | 95 | 105 |
| Total Accumulated other comprehensive loss | (8,334) | (7,619) |
| Total Shareowners' Equity | 27,579 | 27,358 |
| Noncontrolling interest | 1,590 | 1,486 |
| Total Equity | 29,169 | 28,844 |
| Total Liabilities and Equity | 89,706 | 87,484 |
| External Links | |
| RAYTHEON TECHNOLOGIES CORP (RTX) Fiscal Year 2016 | |
| 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 |