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: 2020 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 8, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net sales | $ 56,587 | 45,349 | 34,701 |
| Research and development | 2,582 | 2,452 | 1,878 |
| Selling, general and administrative | 5,540 | 3,711 | 2,864 |
| Total Costs and Expenses | 56,178 | 40,761 | 32,207 |
| Goodwill impairment | (3,183) | 0 | 0 |
| Other income, net | 885 | 326 | 383 |
| Operating profit (loss) | (1,889) | 4,914 | 2,877 |
| Non-service pension benefit | (902) | (829) | (659) |
| Interest expense, net | 1,366 | 1,591 | 1,032 |
| Total non-operating expense, net | 464 | 762 | 373 |
| Income (loss) from continuing operations before income taxes | (2,353) | 4,152 | 2,504 |
| Income tax expense | 575 | 421 | 1,098 |
| Net income (loss) from continuing operations | (2,928) | 3,731 | 1,406 |
| Less: Noncontrolling interest in subsidiaries earnings from continuing operations | 181 | 221 | 190 |
| Income (loss) from continuing operations attributable to common shareowners | (3,109) | 3,510 | 1,216 |
| Income (loss) from discontinued operations | (216) | 4,091 | 5,776 |
| Income tax expense from discontinued operations | 151 | 1,874 | 1,528 |
| Net income (loss) from discontinued operations | (367) | 2,217 | 4,248 |
| Less: Noncontrolling interest in subsidiaries earnings from discontinued operations | 43 | 190 | 195 |
| Income (loss) from discontinued operations attributable to common shareowners | (410) | 2,027 | 4,053 |
| Net income (loss) attributable to common shareowners | (3,519) | 5,537 | 5,269 |
| Earnings (loss) per share attributable to common shareowners - basic | |||
| Income (loss) from continuing operations attributable to common shareowners | (2.29) | 4.11 | 1.52 |
| Income (loss) from discontinued operations | (0.30) | 2.37 | 5.06 |
| Net income (loss) attributable to common shareowners | (2.59) | 6.48 | 6.58 |
| Earnings (loss) per share attributable to common shareowners - diluted | |||
| Income (loss) from continuing operations attributable to common shareowners | (2.29) | 4.06 | 1.50 |
| Income (loss) from discontinued operations | (0.30) | 2.35 | 5.00 |
| Net income (loss) attributable to common shareowners | (2.59) | 6.41 | 6.50 |
| Weighted average number of shares outstanding: | |||
| Basic shares | 1,357,800 | 854,800 | 800,400 |
| Diluted shares | 1,357,800 | 863,900 | 810,100 |
| Product and Service | |||
| Product | |||
| Net sales | 43,319 | 32,998 | 24,141 |
| Cost of Products and Services Sold | 38,137 | 26,910 | 21,083 |
| Service | |||
| Net sales | 13,268 | 12,351 | 10,560 |
| Cost of Products and Services Sold | 9,919 | 7,688 | 6,382 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2020 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 8, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income (loss) from continuing and discontinued operations | $ (3,295) | 5,948 | 5,654 |
| Pension and postretirement benefit plans | |||
| Net actuarial loss arising during period | (202) | (543) | (1,819) |
| Prior service credit (cost) arising during period | 2,095 | (6) | (22) |
| Amortization of actuarial loss and prior service cost | 373 | 228 | 344 |
| Other | (51) | (93) | 105 |
| Pension and postretirement benefit plans | 2,215 | (414) | (1,392) |
| Unrealized loss on available-for-sale securities | 0 | 0 | (5) |
| Change in unrealized cash flow hedging | 263 | 18 | (323) |
| Foreign currency translation adjustments | 609 | 268 | (518) |
| Other comprehensive income (loss), before tax | 3,087 | (128) | (2,238) |
| Income tax (expense) benefit related to items of other comprehensive income (loss) | (547) | 43 | 400 |
| Other comprehensive income (loss), net of tax | 2,540 | (85) | (1,838) |
| Comprehensive income (loss) | (755) | 5,863 | 3,816 |
| Less: comprehensive income attributable to noncontrolling interest | 224 | 399 | 355 |
| Comprehensive income (loss) attributable to common shareowners | (979) | 5,464 | 3,461 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2020 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 8, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Operating Activities: | |||
| Net income (loss) from continuing operations | $ (2,928) | 3,731 | 1,406 |
| Adjustments to reconcile income from continuing operations to net cash flows provided by operating activities of continuing operations: | |||
| Depreciation and amortization | 4,156 | 2,708 | 1,896 |
| Deferred income tax (benefit) provision | (99) | 38 | 763 |
| Stock compensation cost | 330 | 268 | 169 |
| Net periodic pension and other postretirement (income) expense | (413) | (566) | (392) |
| Goodwill impairment charge | 3,183 | 0 | 0 |
| Change in: | |||
| Accounts receivables | 1,318 | 88 | (1,147) |
| Contract assets | 63 | (679) | (651) |
| Inventory | 412 | (1,267) | (417) |
| Other current assets | (445) | (984) | (645) |
| Accounts payable and accrued liabilities | (1,666) | 1,111 | 2,738 |
| Contract liabilities | 1,129 | 1,234 | 325 |
| Global pension contributions | (1,025) | (55) | (79) |
| Canadian Government Settlement | 0 | (38) | (429) |
| Other operating activities, net | 319 | 232 | (867) |
| Net cash flows provided by operating activities from continuing operations | 4,334 | 5,821 | 2,670 |
| Investing Activities: | |||
| Capital expenditures | (1,795) | (1,868) | (1,467) |
| Increase in customer financing assets | (280) | (787) | (988) |
| Decrease in customer financing assets | 368 | 128 | 604 |
| Investments in businesses (Note 2) | (419) | (9) | (15,039) |
| Cash acquired in Raytheon Merger | 3,208 | 0 | 0 |
| Dispositions of businesses (Note 2) | 2,556 | 134 | 74 |
| Increase in collaboration intangible assets | (172) | (351) | (400) |
| Receipts (payments) from settlements of derivative contracts | (32) | 342 | 140 |
| Other investing activities, net | (91) | (265) | (183) |
| Net cash flows provided by (used in) investing activities from continuing operations | 3,343 | (2,676) | (17,259) |
| Financing Activities: | |||
| Issuance of long-term debt | 2,004 | (19) | 13,337 |
| Distribution from discontinued operation | 17,207 | 0 | 0 |
| Repayment of long-term debt | (16,082) | (2,693) | (2,520) |
| (Decrease) increase in short-term borrowings, net | (2,041) | 896 | (370) |
| Proceeds from Common Stock issued under employee stock plans | 15 | 27 | 36 |
| Dividends paid on Common Stock | (2,732) | (2,442) | (2,170) |
| Repurchase of Common Stock | (47) | (151) | (325) |
| Net transfer (to) from discontinued operations | (2,033) | 2,387 | 3,979 |
| Other financing activities, net | (151) | 82 | 242 |
| Net cash flows provided by (used in) financing activities of continuing operations | (3,860) | (1,913) | 12,209 |
| Discontinued Operations: | |||
| Net cash (used in) provided by operating activities | (728) | 3,062 | 3,652 |
| Net cash (used in) provided by investing activities | (241) | (416) | 286 |
| Net cash used in financing activities | (1,414) | (2,651) | (4,244) |
| Net cash flows used in discontinued operations | (2,383) | (5) | (306) |
| Effect of foreign exchange rate changes on cash and cash equivalents from continuing operations | 54 | 1 | (6) |
| Effect of foreign exchange rate changes on cash and cash equivalents from discontinued operations | (76) | (20) | (114) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 1,412 | 1,208 | (2,806) |
| Cash, cash equivalents and restricted cash, beginning of year | 4,961 | 3,731 | |
| Cash, cash equivalents and restricted cash within assets related to discontinued operations, beginning of year | 2,459 | 2,481 | |
| Cash, cash equivalents and restricted cash, end of year | 8,832 | 7,420 | 6,212 |
| Less: Restricted cash, included in Other assets | 30 | 24 | 38 |
| Less: Cash, cash equivalents and restricted cash for discontinued operations | 0 | 2,459 | 2,481 |
| Cash and cash equivalents, end of year | 8,802 | 4,937 | 3,693 |
| Supplemental Disclosure of Cash Flow Information: | |||
| Interest paid, net of amounts capitalized | 1,628 | 1,801 | 1,027 |
| Income taxes paid, net of refunds | 1,716 | 1,768 [1] | 1,714 |
| [1] (1) Amounts are inclusive of continuing operations and discontinued operations payments. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
RAYTHEON TECHNOLOGIES CORP | ||
Ticker: RTX Fiscal Year: 2020 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 8, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Cash and cash equivalents | $ 8,802 | 4,937 |
| Accounts receivable, net | 9,254 | 8,743 |
| Contract assets | 9,931 | 4,462 |
| Inventory, net | 9,411 | 9,047 |
| Assets related to discontinued operations | 64 | 31,823 |
| Other assets, current | 5,914 | 2,565 |
| Total Current Assets | 43,376 | 61,577 |
| Customer financing assets | 3,144 | 3,463 |
| Fixed assets, net | 14,962 | 10,322 |
| Operating lease right-of-use assets | 1,880 | 1,252 |
| Goodwill | 54,285 | 36,609 |
| Intangible assets, net | 40,539 | 24,473 |
| Other assets | 3,967 | 1,919 |
| Total Assets | 162,153 | 139,615 |
| Liabilities, Redeemable Noncontrolling Interests and Equity | ||
| Short-term borrowings | 247 | 2,293 |
| Accounts payable | 8,639 | 7,816 |
| Accrued employee compensation | 3,006 | 1,353 |
| Other accrued liabilities | 10,401 | 8,417 |
| Contract liabilities | 12,889 | 9,014 |
| Liabilities related to discontinued operations | 116 | 14,443 |
| Long-term debt currently due | 550 | 3,258 |
| Total Current Liabilities | 35,848 | 46,594 |
| Long-term debt | 31,026 | 37,701 |
| Operating lease liabilities, non-current | 1,516 | 1,093 |
| Future pension and postretirement benefit obligations | 10,342 | 2,487 |
| Other long-term liabilities | 9,537 | 7,414 |
| Total Liabilities | 88,269 | 95,289 |
| Commitments and contingent liabilities (Note 19) | ||
| Redeemable noncontrolling interest | 32 | 95 |
| Shareowners' Equity: | ||
| Capital Stock: | ||
| Preferred Stock, $1 par value; 250,000 shares authorized; None issued or outstanding | 0 | 0 |
| Preferred Stock, par value | 1 | 1 |
| Preferred Stock. shares authorized | 250,000 | 250,000 |
| Preferred Stock, Shares Outstanding | 0 | 0 |
| Preferred Stock, Shares Issued | 0 | 0 |
| Common Stock, $1 par value; 4,000,000 shares authorized; 1,706,173 and 1,450,845 shares issued | 36,930 | 23,019 |
| Common Stock, par value | 1 | 1 |
| Common Stock, shares authorized | 4,000,000 | 4,000,000 |
| Common Stock, Shares, Issued | 1,706,173 | 1,450,845 |
| Treasury Stock 186,734 and 586,479 common shares at average cost | (10,407) | (32,626) |
| Treasury Stock, shares | 186,734 | 586,479 |
| Retained earnings | 49,423 | 61,594 |
| Unearned ESOP shares | (49) | (64) |
| Accumulated other comprehensive loss | (3,734) | (10,149) |
| Total Shareowners Equity | 72,163 | 41,774 |
| Noncontrolling interest | 1,689 | 2,457 |
| Total Equity | 73,852 | 44,231 |
| Total Liabilities, Redeemable Noncontrolling Interests and Equity | 162,153 | 139,615 |
| External Links | |
| RAYTHEON TECHNOLOGIES CORP (RTX) Fiscal Year 2020 | |
| 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 |