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: 2022 | |||
Consolidated Statement of Operations | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 7, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net Sales: | |||
| Net sales | $ 67,074 | 64,388 | 56,587 |
| Costs and Expenses: | |||
| Research and development | 2,711 | 2,732 | 2,582 |
| Selling, general and administrative | 5,663 | 5,224 | 5,540 |
| Total costs and expenses | 61,780 | 59,853 | 56,178 |
| Goodwill impairment | 0 | 0 | (3,183) |
| Other income, net | 120 | 423 | 885 |
| Operating profit (loss) | 5,414 | 4,958 | (1,889) |
| Non-service pension income | (1,889) | (1,944) | (902) |
| Debt extinguishment costs | 0 | 649 | 0 |
| Interest expense, net | 1,276 | 1,322 | 1,366 |
| Total non-operating expense (income), net | (613) | 27 | 464 |
| Income (loss) from continuing operations before income taxes | 6,027 | 4,931 | (2,353) |
| Income tax expense | 700 | 786 | 575 |
| Net income (loss) from continuing operations | 5,327 | 4,145 | (2,928) |
| Less: Noncontrolling interest in subsidiaries earnings from continuing operations | 111 | 248 | 181 |
| Net income (loss) from continuing operations attributable to common shareowners | 5,216 | 3,897 | (3,109) |
| Discontinued operations (Note 3) | |||
| Loss from discontinued operations | (30) | (10) | (216) |
| Income tax expense (benefit) from discontinued operations | (11) | 23 | 151 |
| Loss from discontinued operations | (19) | (33) | (367) |
| Less: Noncontrolling interest in subsidiaries earnings from discontinued operations | 0 | 0 | 43 |
| Loss from discontinued operations attributable to common shareowners | (19) | (33) | (410) |
| Net income (loss) attributable to common shareowners | 5,197 | 3,864 | (3,519) |
| Earnings (loss) per share attributable to common shareowners - basic | |||
| Income (loss) from continuing operations attributable to common shareowners | 3.54 | 2.60 | (2.29) |
| Loss from discontinued operations | (0.02) | (0.03) | (0.30) |
| Net income (loss) attributable to common shareowners | 3.52 | 2.57 | (2.59) |
| Earnings (loss) per share attributable to common shareowners - diluted | |||
| Income (loss) from continuing operations attributable to common shareowners | 3.51 | 2.58 | (2.29) |
| Loss from discontinued operations | (0.01) | (0.02) | (0.30) |
| Net income (loss) attributable to common shareowners | 3.50 | 2.56 | (2.59) |
| Weighted average number of shares outstanding: | |||
| Basic shares | 1,475,500 | 1,501,600 | 1,357,800 |
| Diluted shares | 1,485,900 | 1,508,500 | 1,357,800 |
| Product and Service | |||
| Products | |||
| Net sales | 50,773 | 49,270 | 43,319 |
| Cost of Sales | 41,927 | 41,095 | 38,137 |
| Services | |||
| Net sales | 16,301 | 15,118 | 13,268 |
| Cost of Sales | 11,479 | 10,802 | 9,919 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2022 | |||
Consolidated Statement of Comprehensive Income (Loss) | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 7, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income (loss) from continuing and discontinued operations | $ 5,308 | 4,112 | (3,295) |
| Pension and postretirement benefit plans adjustments | |||
| Net actuarial gain (loss) arising during period | 1,291 | 3,246 | (202) |
| Prior service credit (cost) arising during period | (131) | (59) | 2,095 |
| Amortization of actuarial loss and prior service cost | 129 | 258 | 373 |
| Other | 65 | 23 | (51) |
| Pension and postretirement benefit plans adjustments | 1,354 | 3,468 | 2,215 |
| Change in unrealized cash flow hedging | (143) | (254) | 263 |
| Foreign currency translation adjustments | (1,048) | (647) | 609 |
| Other comprehensive income, before tax | 163 | 2,567 | 3,087 |
| Income tax expense related to items of other comprehensive income | (266) | (748) | (547) |
| Other comprehensive income (loss), net of tax | (103) | 1,819 | 2,540 |
| Comprehensive income (loss) | 5,205 | 5,931 | (755) |
| Less: Comprehensive income attributable to noncontrolling interest | 111 | 248 | 224 |
| Comprehensive income (loss) attributable to common shareowners | 5,094 | 5,683 | (979) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
RAYTHEON TECHNOLOGIES CORP | |||
Ticker: RTX Fiscal Year: 2022 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 7, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Operating Activities: | |||
| Net income (loss) from continuing operations | $ 5,327 | 4,145 | (2,928) |
| Adjustments to reconcile net income (loss) from continuing operations to net cash flows provided by operating activities: | |||
| Depreciation and amortization | 4,108 | 4,557 | 4,156 |
| Deferred income tax benefit | (1,663) | (88) | (99) |
| Stock compensation cost | 420 | 442 | 330 |
| Net periodic pension and other postretirement income | (1,413) | (1,414) | (413) |
| Debt extinguishment costs | 0 | 649 | 0 |
| Goodwill impairment charge | 0 | 0 | 3,183 |
| Change in: | |||
| Accounts receivables | 437 | (570) | 1,318 |
| Contract assets | (234) | (1,594) | 63 |
| Inventory | (1,575) | 163 | 412 |
| Other current assets | (1,027) | (566) | (445) |
| Accounts payable and accrued liabilities | 2,075 | 917 | (1,666) |
| Contract liabilities | 846 | 1,372 | 1,129 |
| Global pension contributions | (94) | (59) | (1,025) |
| Other operating activities, net | (39) | (812) | 319 |
| Net cash flows provided by operating activities from continuing operations | 7,168 | 7,142 | 4,334 |
| Investing Activities: | |||
| Capital expenditures | (2,288) | (2,134) | (1,795) |
| Payments on customer financing assets | (150) | (231) | (280) |
| Receipts from customer financing assets | 179 | 389 | 368 |
| Investments in businesses (Note 2) | (66) | (1,088) | (419) |
| Cash acquired in Raytheon merger | 0 | 0 | 3,208 |
| Dispositions of businesses, net of cash transferred (Note 2) | 94 | 1,879 | 2,556 |
| Increase in other intangible assets | (487) | (308) | (312) |
| Payments from settlements of derivative contracts, net | (205) | (16) | (32) |
| Other investing activities, net | 94 | 145 | 49 |
| Net cash flows (used in) provided by investing activities from continuing operations | (2,829) | (1,364) | 3,343 |
| Financing Activities: | |||
| Issuance of long-term debt | 1 | 4,062 | 2,004 |
| Distribution from discontinued operations | 0 | 0 | 17,207 |
| Repayment of long-term debt | (3) | (4,254) | (16,082) |
| Debt extinguishment costs | 0 | (649) | 0 |
| Change in commercial paper, net (Note 10) | 518 | (160) | 160 |
| Change in other short-term borrowings, net | (29) | 47 | (2,201) |
| Dividends paid on Common Stock | (3,128) | (2,957) | (2,732) |
| Repurchase of Common Stock | (2,803) | (2,327) | (47) |
| Net transfers to discontinued operations | 0 | (71) | (2,033) |
| Other financing activities, net | (415) | (447) | (136) |
| Net cash flows used in financing activities from continuing operations | (5,859) | (6,756) | (3,860) |
| Discontinued Operations: | |||
| Net cash used in operating activities | 0 | (71) | (728) |
| Net cash used in investing activities | 0 | 0 | (241) |
| Net cash provided by (used in) financing activities | 0 | 71 | (1,414) |
| Net cash used in discontinued operations | 0 | 0 | (2,383) |
| Effect of foreign exchange rate changes on cash and cash equivalents from continuing operations | (42) | (1) | 54 |
| Effect of foreign exchange rate changes on cash and cash equivalents from discontinued operations | 0 | 0 | (76) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (1,562) | (979) | 1,412 |
| Cash, cash equivalents and restricted cash, beginning of year | 7,853 | 8,832 | |
| Cash, cash equivalents and restricted cash within assets related to discontinued operations, beginning of year | 0 | 0 | |
| Cash, cash equivalents and restricted cash, end of year | 6,291 | 7,853 | 8,832 |
| Less: Restricted cash, included in Other assets | 71 | 21 | 30 |
| Cash and cash equivalents, end of year | 6,220 | 7,832 | 8,802 |
| Supplemental Disclosure of Cash Flow Information: | |||
| Interest paid, net of amounts capitalized | 1,263 | 1,339 | 1,628 |
| Income taxes paid, net of refunds | 2,400 | 1,124 | 1,716 [1] |
| [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: 2022 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 7, 2023) | ||
| (In Millions, except shares in Thousands) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Cash and cash equivalents | $ 6,220 | 7,832 |
| Accounts receivable, net | 9,108 | 9,661 |
| Contract assets | 11,534 | 11,361 |
| Inventory, net | 10,617 | 9,178 |
| Other assets, current | 4,964 | 4,018 |
| Total Current Assets | 42,443 | 42,050 |
| Customer financing assets | 2,603 | 2,848 |
| Fixed assets, net | 15,170 | 14,972 |
| Operating lease right-of-use assets | 1,829 | 1,958 |
| Goodwill | 53,840 | 54,436 |
| Intangible assets, net | 36,823 | 38,516 |
| Other assets | 6,156 | 6,624 |
| Total Assets | 158,864 | 161,404 |
| Liabilities, Redeemable Noncontrolling Interest and Equity | ||
| Short-term borrowings | 625 | 134 |
| Accounts payable | 9,896 | 8,751 |
| Accrued employee compensation | 2,401 | 2,658 |
| Other accrued liabilities | 10,999 | 10,162 |
| Contract liabilities | 14,598 | 13,720 |
| Long-term debt currently due | 595 | 24 |
| Total current liabilities | 39,114 | 35,449 |
| Long-term debt | 30,694 | 31,327 |
| Operating lease liabilities, non-current | 1,586 | 1,657 |
| Future pension and postretirement benefit obligations | 4,807 | 7,855 |
| Other long-term liabilities | 8,449 | 10,417 |
| Total Liabilities | 84,650 | 86,705 |
| Commitments and contingencies (Note 18) | ||
| Redeemable noncontrolling interest | 36 | 35 |
| 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; 1,710,960 and 1,708,065 shares issued | 37,939 | 37,483 |
| Common Stock, par value | 1 | 1 |
| Common Stock, shares authorized | 4,000,000 | 4,000,000 |
| Common Stock, Shares, Issued | 1,710,960 | 1,708,065 |
| Treasury stock, 244,720 and 214,785 common shares at average cost | (15,530) | (12,727) |
| Treasury Stock, shares | 244,720 | 214,785 |
| Retained earnings | 52,269 | 50,265 |
| Unearned ESOP shares | (28) | (38) |
| Accumulated other comprehensive loss | (2,018) | (1,915) |
| Total shareowners equity | 72,632 | 73,068 |
| Noncontrolling interest | 1,546 | 1,596 |
| Total equity | 74,178 | 74,664 |
| Total liabilities, redeemable noncontrolling interest and equity | 158,864 | 161,404 |
| External Links | |
| RAYTHEON TECHNOLOGIES CORP (RTX) Fiscal Year 2022 | |
| 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 |