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: 2021 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net Sales: | |||
| Net sales | $ 64,388 | 56,587 | 45,349 |
| Costs and Expenses: | |||
| Research and development | 2,732 | 2,582 | 2,452 |
| Selling, general and administrative | 5,224 | 5,540 | 3,711 |
| Total Costs and Expenses | 59,853 | 56,178 | 40,761 |
| Goodwill impairment | 0 | (3,183) | 0 |
| Other income, net | 423 | 885 | 326 |
| Operating profit (loss) | 4,958 | (1,889) | 4,914 |
| Non-service pension income | (1,944) | (902) | (829) |
| Debt extinguishment costs | 649 | 0 | 0 |
| Interest expense, net | 1,322 | 1,366 | 1,591 |
| Total non-operating expense, net | 27 | 464 | 762 |
| Income (loss) from continuing operations before income taxes | 4,931 | (2,353) | 4,152 |
| Income tax expense | 786 | 575 | 421 |
| Net income (loss) from continuing operations | 4,145 | (2,928) | 3,731 |
| Less: Noncontrolling interest in subsidiaries earnings from continuing operations | 248 | 181 | 221 |
| Income (loss) from continuing operations attributable to common shareowners | 3,897 | (3,109) | 3,510 |
| Discontinued operations (Note 3): | |||
| Income (loss) from discontinued operations | (10) | (216) | 4,091 |
| Income tax expense from discontinued operations | 23 | 151 | 1,874 |
| Net income (loss) from discontinued operations | (33) | (367) | 2,217 |
| Less: Noncontrolling interest in subsidiaries earnings from discontinued operations | 0 | 43 | 190 |
| Income (loss) from discontinued operations attributable to common shareowners | (33) | (410) | 2,027 |
| Net income (loss) attributable to common shareowners | 3,864 | (3,519) | 5,537 |
| Earnings (loss) per share attributable to common shareowners - basic | |||
| Income (loss) from continuing operations attributable to common shareowners | 2.60 | (2.29) | 4.11 |
| Income (loss) from discontinued operations | (0.03) | (0.30) | 2.37 |
| Net income (loss) attributable to common shareowners | 2.57 | (2.59) | 6.48 |
| Earnings (loss) per share attributable to common shareowners - diluted | |||
| Income (loss) from continuing operations attributable to common shareowners | 2.58 | (2.29) | 4.06 |
| Income (loss) from discontinued operations | (0.02) | (0.30) | 2.35 |
| Net income (loss) attributable to common shareowners | 2.56 | (2.59) | 6.41 |
| Weighted average number of shares outstanding: | |||
| Basic shares | 1,501,600 | 1,357,800 | 854,800 |
| Diluted shares | 1,508,500 | 1,357,800 | 863,900 |
| Product and Service | |||
| Products | |||
| Net sales | 49,270 | 43,319 | 32,998 |
| Cost of Sales | 41,095 | 38,137 | 26,910 |
| Services | |||
| Net sales | 15,118 | 13,268 | 12,351 |
| Cost of Sales | 10,802 | 9,919 | 7,688 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2021 | |||
Consolidated Statement of Comprehensive Income (Loss) | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net income (loss) from continuing and discontinued operations | $ 4,112 | (3,295) | 5,948 |
| Pension and postretirement benefit plans adjustments | |||
| Net actuarial gain (loss) arising during period | 3,246 | (202) | (543) |
| Prior service credit (cost) arising during period | (59) | 2,095 | (6) |
| Amortization of actuarial loss and prior service cost | 258 | 373 | 228 |
| Other | 23 | (51) | (93) |
| Pension and postretirement benefit plans adjustments | 3,468 | 2,215 | (414) |
| Change in unrealized cash flow hedging | (254) | 263 | 18 |
| Foreign currency translation adjustments | (647) | 609 | 268 |
| Other comprehensive income (loss), before tax | 2,567 | 3,087 | (128) |
| Income tax (expense) benefit related to items of other comprehensive income (loss) | (748) | (547) | 43 |
| Other comprehensive income (loss), net of tax | 1,819 | 2,540 | (85) |
| Comprehensive income (loss) | 5,931 | (755) | 5,863 |
| Less: comprehensive income attributable to noncontrolling interest | 248 | 224 | 399 |
| Comprehensive income (loss) attributable to common shareowners | 5,683 | (979) | 5,464 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2021 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating Activities: | |||
| Net income (loss) from continuing operations | $ 4,145 | (2,928) | 3,731 |
| Adjustments to reconcile net income (loss) from continuing operations to net cash flows provided by operating activities: | |||
| Depreciation and amortization | 4,557 | 4,156 | 2,708 |
| Deferred income tax (benefit) provision | (88) | (99) | 38 |
| Stock compensation cost | 442 | 330 | 268 |
| Net periodic pension and other postretirement income | (1,414) | (413) | (566) |
| Debt extinguishment costs | 649 | 0 | 0 |
| Goodwill impairment charge | 0 | 3,183 | 0 |
| Change in: | |||
| Accounts receivables | (570) | 1,318 | 88 |
| Contract assets | (1,594) | 63 | (679) |
| Inventory | 163 | 412 | (1,267) |
| Other current assets | (566) | (445) | (984) |
| Accounts payable and accrued liabilities | 917 | (1,666) | 1,111 |
| Contract liabilities | 1,372 | 1,129 | 1,234 |
| Global pension contributions | (59) | (1,025) | (55) |
| Other operating activities, net | (812) | 319 | 194 |
| Net cash flows provided by operating activities from continuing operations | 7,142 | 4,334 | 5,821 |
| Investing Activities: | |||
| Capital expenditures | (2,134) | (1,795) | (1,868) |
| Payments on customer financing assets | (231) | (280) | (787) |
| Receipts from customer financing assets | 389 | 368 | 128 |
| Investments in businesses (Note 2) | (1,088) | (419) | (9) |
| Cash acquired in Raytheon Merger | 0 | 3,208 | 0 |
| Dispositions of businesses, net of cash transferred (Note 2) | 1,879 | 2,556 | 134 |
| Increase in collaboration intangible assets | (188) | (172) | (351) |
| (Payments) receipts from settlements of derivative contracts, net | (16) | (32) | 342 |
| Other investing activities, net | 25 | (91) | (265) |
| Net cash flows (used in) provided by investing activities from continuing operations | (1,364) | 3,343 | (2,676) |
| Financing Activities: | |||
| Issuance of long-term debt | 4,062 | 2,004 | (19) |
| Distribution from discontinued operations | 0 | 17,207 | 0 |
| Repayment of long-term debt | (4,254) | (16,082) | (2,693) |
| Debt extinguishment costs | (649) | 0 | 0 |
| (Decrease) increase in short-term borrowings, net | (113) | (2,041) | 896 |
| Proceeds from Common Stock issued under employee stock plans | 7 | 15 | 27 |
| Dividends paid on Common Stock | (2,957) | (2,732) | (2,442) |
| Repurchase of Common Stock | (2,327) | (47) | (151) |
| Net transfer (to) from discontinued operations | (71) | (2,033) | 2,387 |
| Other financing activities, net | (454) | (151) | 82 |
| Net cash flows (used in) financing activities of continuing operations | (6,756) | (3,860) | (1,913) |
| Discontinued Operations: | |||
| Net cash (used in) provided by operating activities | (71) | (728) | 3,062 |
| Net cash used in investing activities | 0 | (241) | (416) |
| Net cash provided by (used in) financing activities | 71 | (1,414) | (2,651) |
| Net cash used in discontinued operations | 0 | (2,383) | (5) |
| Effect of foreign exchange rate changes on cash and cash equivalents from continuing operations | (1) | 54 | 1 |
| Effect of foreign exchange rate changes on cash and cash equivalents from discontinued operations | 0 | (76) | (20) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (979) | 1,412 | 1,208 |
| Cash, cash equivalents and restricted cash, beginning of year | 8,832 | 4,961 | |
| Cash, cash equivalents and restricted cash within assets related to discontinued operations, beginning of year | 0 | 2,459 | |
| Cash, cash equivalents and restricted cash, end of year | 7,853 | 8,832 | 7,420 |
| Less: Restricted cash, included in Other assets | 21 | 30 | 24 |
| Less: Cash, cash equivalents and restricted cash for discontinued operations | 0 | 0 | 2,459 |
| Cash and cash equivalents, end of year | 7,832 | 8,802 | 4,937 |
| Supplemental Disclosure of Cash Flow Information: | |||
| Interest paid, net of amounts capitalized | 1,339 | 1,628 [1] | 1,801 |
| Income taxes paid, net of refunds | 1,124 | 1,716 | 1,768 |
| [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: 2021 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Cash and cash equivalents | $ 7,832 | 8,802 |
| Accounts receivable, net | 9,661 | 9,254 |
| Contract assets | 11,361 | 9,931 |
| Inventory, net | 9,178 | 9,411 |
| Other assets, current | 4,018 | 5,978 |
| Total Current Assets | 42,050 | 43,376 |
| Customer financing assets | 2,848 | 3,144 |
| Fixed assets, net | 14,972 | 14,962 |
| Operating lease right-of-use assets | 1,958 | 1,880 |
| Goodwill | 54,436 | 54,285 |
| Intangible assets, net | 38,516 | 40,539 |
| Other assets | 6,624 | 3,967 |
| Total Assets | 161,404 | 162,153 |
| Liabilities, Redeemable Noncontrolling Interest and Equity | ||
| Short-term borrowings | 134 | 247 |
| Accounts payable | 8,751 | 8,639 |
| Accrued employee compensation | 2,658 | 3,006 |
| Other accrued liabilities | 10,162 | 10,517 |
| Contract liabilities | 13,720 | 12,889 |
| Long-term debt currently due | 24 | 550 |
| Total Current Liabilities | 35,449 | 35,848 |
| Long-term debt | 31,327 | 31,026 |
| Operating lease liabilities, non-current | 1,657 | 1,516 |
| Future pension and postretirement benefit obligations | 7,855 | 10,342 |
| Other long-term liabilities | 10,417 | 9,537 |
| Total Liabilities | 86,705 | 88,269 |
| Commitments and contingencies (Note 19) | ||
| Redeemable noncontrolling interest | 35 | 32 |
| 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; 1,708,065 and 1,706,173 shares issued | 37,483 | 36,930 |
| Common Stock, par value | 1 | 1 |
| Common Stock, shares authorized | 4,000,000 | 4,000,000 |
| Common Stock, Shares, Issued | 1,708,065 | 1,706,173 |
| Treasury Stock, 214,785 and 186,734 common shares at average cost | (12,727) | (10,407) |
| Treasury Stock, shares | 214,785 | 186,734 |
| Retained earnings | 50,265 | 49,423 |
| Unearned ESOP shares | (38) | (49) |
| Accumulated other comprehensive loss | (1,915) | (3,734) |
| Total Shareowners Equity | 73,068 | 72,163 |
| Noncontrolling interest | 1,596 | 1,689 |
| Total Equity | 74,664 | 73,852 |
| Total Liabilities, Redeemable Noncontrolling Interest and Equity | 161,404 | 162,153 |
| External Links | |
| RAYTHEON TECHNOLOGIES CORP (RTX) Fiscal Year 2021 | |
| 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 |