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10-K.Info (Beta Test)
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RAYTHEON TECHNOLOGIES CORP

Ticker: RTX   Fiscal Year: 2017

Consolidated Statement of Operations

Period Ending Dec 31, 2017 10-K (Filed: Feb 9, 2018)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2017Dec 31, 2016Dec 31, 2015
Consolidated Statement of Operations
Net Sales:
Product sales
$
41,361
40,73539,801
Service sales18,47616,50916,297
Net Sales59,83757,24456,098
 
Costs and Expenses:
Cost of products sold31,02730,32529,771
Cost of services sold12,92611,13510,660
Research and development2,3872,3372,279
Selling, general and administrative6,1836,0605,886
Total costs and expenses52,52349,85748,596
 
Other Income1,358785
Other Expenses211
Operating profit8,6728,1727,291
 
Interest Expense, net9091,039824
Income from continuing operations before income taxes7,7637,1336,467
 
Income tax expense2,8431,6972,111
Net income from continuing operations4,9205,4364,356
 
Less: Noncontrolling interest in subsidiaries' earnings from continuing operations368371360
Income from continuing operations attributable to common shareowners4,5525,0653,996
 
Discontinued operations (Note 3):
Income from operations01252
Gain on disposal0136,042
Income tax expense 242,684
Net (loss) income from discontinued operations0(10)3,610
 
Less: Noncontrolling interest in subsidiaries' earnings (loss) from discontinued operations00(2)
(Loss) Income from discontinued operations attributable to common shareowners0(10)3,612
 
Net income attributable to common shareowners4,5525,0557,608
 
Earnings Per Share of Common Stock - Basic:
Net income from continuing operations attributable to common shareowners5.766.194.58
Net income attributable to common shareowners5.766.188.72
Earnings Per Share of Common Stock - Diluted:
Net income from continuing operations attributable to common shareowners5.706.134.53
Net income attributable to common shareowners5.706.128.61
Dividends Per Share of Common Stock2.722.622.56
Weighted average number of shares outstanding:
Basic shares790,000,000818,200,000872,700,000
Diluted shares799,100,000826,100,000883,200,000
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RAYTHEON TECHNOLOGIES CORP

Ticker: RTX   Fiscal Year: 2017

Consolidated Statement of Comprehensive Income

Period Ending Dec 31, 2017 10-K (Filed: Feb 9, 2018)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2017Dec 31, 2016Dec 31, 2015
Net income from continuing operations
$
4,920
5,4364,356
Net (loss) income from discontinued operations0(10)3,610
Net income4,9205,4267,966
 
Other comprehensive loss, net of tax:
Foreign currency translation adjustments
Foreign currency translation adjustments arising during period620(1,089)(1,502)
Reclassification adjustments for from sale of an investment in a foreign entity recognized in net income100(42)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax610(1,089)(1,460)
 
Change in pension and post-retirement benefit plans
Net actuarial loss arising during period241(785)(284)
Prior service cost arising during period(2)1337
Other(116)542326
Amounts reclassified, pretax - Pension529535867
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent(656)(279)(872)
 
Tax (expense) benefit(263)(189)(298)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax(393)(90)(574)
 
Unrealized gain (loss) on available-for-sale securities
Unrealized holding gain arising during period519028
Reclassification adjustments for gain included in Other income, net5669454
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax, Portion Attributable to Parent(561)96(26)
Tax (expense) benefit(213)36(11)
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax, Portion Attributable to Parent(348)60(15)
 
Change in unrealized cash flow hedging
Unrealized cash flow hedging gain (loss) arising during period34775(415)
Loss reclassified into Product sales39(171)(234)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax, Portion Attributable to Parent308246(181)
 
Tax (expense) benefit7469(51)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Portion Attributable to Parent234177(130)
 
Other comprehensive loss, net of tax889(762)(1,031)
 
Comprehensive income5,8094,6646,935
Less: Comprehensive income attributable to noncontrolling interest448324285
Comprehensive income atrributable to common shareowners5,3614,3406,650
 
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RAYTHEON TECHNOLOGIES CORP

Ticker: RTX   Fiscal Year: 2017

Consolidated Statement of Cash Flows

Period Ending Dec 31, 2017 10-K (Filed: Feb 9, 2018)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2017Dec 31, 2016Dec 31, 2015
Operating Activities of Continuing Operations:
Income from continuing operations
$
4,920
5,4364,356
Adjustments to reconcile income from continuing operations to net cash flows provided by operating activities of continuing operations:
Depreciation and amortization2,1401,9621,863
Deferred income tax provision62398662
Stock compensation cost192152158
Canadian Government Settlement(285)(237)867
Change in:
Accounts receivable448941438
Inventories and contracts in progress1,074719766
Other current assets101(49)55
Accounts payable and accrued liabilities1,571450490
Global pension contributions2,112303147
Other operating activities, net(766)(165)235
Net Cash Provided by Operating Activities, Continuing Operations5,6316,4126,755
 
Investing Activities of Continuing Operations:
Capital expenditures2,0141,6991,652
Increase in customer financing assets1,197438364
Decrease in customer financing assets222217117
Investments in businesses231710538
Dispositions of businesses70211200
Proceeds from the sale of the investment in Watsco Inc.59600
Increase in collaboration intangible assets380388437
Payments (receipts) from settlements of derivative contracts317(249)(160)
Other investing activities, net(232)(49)280
Net cash flows used in investing activities of continuing operations(3,019)(2,509)(2,794)
 
Financing Activities of Continuing Operations:
Issuance of long-term debt4,9546,4691,744
Repayment of long-term debt1,6042,4521,764
(Decrease) increase in short-term borrowings, net(271)(331)795
Proceeds from Issuance of Common Stock - Equity unit settlement001,100
Common Stock issued under employee stock plans311341
Dividends paid on Common Stock2,0742,0692,184
Repurchase of Common Stock1,4532,25410,000
Other financing activities, net(576)(564)(508)
Net cash flows used in financing activities of continuing operations(993)(1,188)(10,776)
 
Discontinued Operations:
Net cash used in operating activities0(2,532)(372)
Net cash provided by investing activities069,000
Cash used in financing activities, discontinued operations00(9)
Net cash flows (used in) provided by discontinued operations0(2,526)8,619
 
Effect of foreign exchange rate changes on cash and cash equivalents210(120)(174)
Net increase in cash and cash equivalents1,829691,630
 
Cash and Cash Equivalents, beginning of period7,1897,120
Cash and Cash Equivalents, end of period9,0187,1897,120
 
Cash and cash equivalents of continuing operations, end of year8,9857,1577,075
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of amounts capitalized9741,1571,057
Income taxes paid, net of refunds1,3264,0962,060
Contributions of UTC Common Stock to domestic defined benefit pension plans00250
Restricted Cash And Cash Equivalents333245
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RAYTHEON TECHNOLOGIES CORP

Ticker: RTX   Fiscal Year: 2017

Consolidated Balance Sheet

Period Ending Dec 31, 2017 10-K (Filed: Feb 9, 2018)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2017Dec 31, 2016
Assets
Cash and cash equivalents
$
8,985
7,157
Accounts receivable (net of allowance for doubtful accounts of $456 and $450)12,59511,481
Inventories and contracts in progress, net9,8818,704
Other assets, current1,3971,208
Total Current Assets32,85828,550
 
Customer financing assets2,3721,398
Future income tax benefits1,7231,809
Fixed assets, net10,1869,158
Goodwill27,91027,059
Intangible assets, net15,88315,684
Other assets5,9886,048
Total Assets96,92089,706
 
Liabilities and Equity
Short-term borrowings392601
Accounts payable9,5797,483
Accrued liabilities12,31612,219
Long-term debt currently due2,1041,603
Total Current Liabilities24,39121,906
 
Long-term debt24,98921,697
Future pension and postretirement benefit obligations3,0365,612
Other long-term liabilities12,95211,026
Total Liabilities65,36860,241
 
Commitments and contingent liabilities (Notes 5 and 18)  
Redeemable noncontrolling interest131296
Shareowners' Equity:
Capital Stock:
Preferred Stock, $1 par value; 250,000 shares authorized; None issued or outstanding00
Common Stock, $1 par value; 4,000,000 shares authorized; 1,444,187 and 1,440,982 shares issued17,57417,285
Treasury Stock 645,057 and 632,281 common shares at average cost35,59634,150
Retained earnings55,24252,873
Unearned ESOP shares8595
Total Accumulated other comprehensive loss(7,525)(8,334)
Total Shareowners' Equity29,61027,579
 
Noncontrolling interest1,8111,590
Total Equity31,42129,169
 
Total Liabilities and Equity96,92089,706
 
External Links 
RAYTHEON TECHNOLOGIES CORP (RTX) Fiscal Year 2017
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