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Segment Financial Data | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | Note 16: Segment Financial Data Our operations are classified into four principal segments: Otis, UTC Climate, Controls & Security, Pratt & Whitney, and UTC Aerospace Systems. The segments are generally based on the management structure of the businesses and the grouping of similar operating companies, where each management organization has general operating autonomy over diversified products and services. As discussed in Note 7, 2017 amounts have been recast based on the adoption of ASU 2017-07. Total sales by segment include inter-segment sales, which are generally made at prices approximating those that the selling entity is able to obtain on external sales. Results for the quarters ended September 30, 2018 and 2017 are as follows:
| Net Sales |  | Operating Profits |  | Operating Profit Margins
(dollars in millions) | 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Otis | $ | 3,223 |  |  | $ | 3,156 |  |  | $ | 486 |  |  | $ | 550 |  |  | 15.1 | % |  | 17.4 | %
UTC Climate, Controls & Security | 4,880 |  |  | 4,688 |  |  | 844 |  |  | 794 |  |  | 17.3 | % |  | 16.9 | %
Pratt & Whitney | 4,789 |  |  | 3,871 |  |  | 109 |  |  | 188 |  |  | 2.3 | % |  | 4.9 | %
UTC Aerospace Systems | 3,955 |  |  | 3,637 |  |  | 610 |  |  | 572 |  |  | 15.4 | % |  | 15.7 | %
Total segments | 16,847 |  |  | 15,352 |  |  | 2,049 |  |  | 2,104 |  |  | 12.2 | % |  | 13.7 | %
Eliminations and other | (337 | ) |  | (290 | ) |  | (102 | ) |  | 32 |  |  |  |  |
General corporate expenses | — |  |  | — |  |  | (109 | ) |  | (104 | ) |  |  |  |
Consolidated | $ | 16,510 |  |  | $ | 15,062 |  |  | $ | 1,838 |  |  | $ | 2,032 |  |  | 11.1 | % |  | 13.5 | %
Results for the nine months ended September 30, 2018 and 2017 are as follows:
| Net Sales |  | Operating Profits |  | Operating Profit Margins
(dollars in millions) | 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Otis | $ | 9,604 |  |  | $ | 9,091 |  |  | $ | 1,424 |  |  | $ | 1,536 |  |  | 14.8 | % |  | 16.9 | %
UTC Climate, Controls & Security | 14,291 |  |  | 13,292 |  |  | 3,081 |  |  | 2,562 |  |  | 21.6 | % |  | 19.3 | %
Pratt & Whitney | 13,854 |  |  | 11,699 |  |  | 919 |  |  | 908 |  |  | 6.6 | % |  | 7.8 | %
UTC Aerospace Systems | 11,734 |  |  | 10,888 |  |  | 1,767 |  |  | 1,637 |  |  | 15.1 | % |  | 15.0 | %
Total segments | 49,483 |  |  | 44,970 |  |  | 7,191 |  |  | 6,643 |  |  | 14.5 | % |  | 14.8 | %
Eliminations and other | (1,026 | ) |  | (813 | ) |  | (210 | ) |  | 9 |  |  |  |  |
General corporate expenses | — |  |  | — |  |  | (339 | ) |  | (312 | ) |  |  |  |
Consolidated | $ | 48,457 |  |  | $ | 44,157 |  |  | $ | 6,642 |  |  | $ | 6,340 |  |  | 13.7 | % |  | 14.4 | %
Geographic sales are attributed to the geographic regions based on their location of origin. Segment information for the quarter ended September 30, 2018 is as follows:
(dollars in millions) | Otis |  | UTC Climate, Controls & Security |  | Pratt & Whitney |  | UTC Aerospace Systems |  | Total
Primary Geographical Markets |  |  |  |  |  |  |  |  |
United States | $ | 864 |  |  | $ | 2,537 |  |  | $ | 3,696 |  |  | $ | 2,805 |  |  | $ | 9,902 |
Europe | 968 |  |  | 1,377 |  |  | 141 |  |  | 560 |  |  | 3,046 |
Asia Pacific | 1,129 |  |  | 726 |  |  | 316 |  |  | 86 |  |  | 2,257 |
Other | 262 |  |  | 240 |  |  | 636 |  |  | 504 |  |  | 1,642 |
Total segment | $ | 3,223 |  |  | $ | 4,880 |  |  | $ | 4,789 |  |  | $ | 3,955 |  |  | 16,847 |
Eliminations and other |  |  |  |  |  |  |  |  | (337 | )
Consolidated |  |  |  |  |  |  |  |  | $ | 16,510 |
Segment information for the nine months ended September 30, 2018 is as follows:
(dollars in millions) | Otis |  | UTC Climate, Controls & Security |  | Pratt & Whitney |  | UTC Aerospace Systems |  | Total
Primary Geographical Markets |  |  |  |  |  |  |  |  |
United States | $ | 2,568 |  |  | $ | 7,250 |  |  | $ | 10,469 |  |  | $ | 8,235 |  |  | $ | 28,522 |
Europe | 3,028 |  |  | 4,216 |  |  | 440 |  |  | 1,752 |  |  | 9,436 |
Asia Pacific | 3,220 |  |  | 2,131 |  |  | 996 |  |  | 255 |  |  | 6,602 |
Other | 788 |  |  | 694 |  |  | 1,949 |  |  | 1,492 |  |  | 4,923 |
Total segment | $ | 9,604 |  |  | $ | 14,291 |  |  | $ | 13,854 |  |  | $ | 11,734 |  |  | 49,483 |
Eliminations and other |  |  |  |  |  |  |  |  | (1,026 | )
Consolidated |  |  |  |  |  |  |  |  | $ | 48,457 |
Segment sales disaggregated by product type and product versus service for the quarter ended September 30, 2018 are as follows:
(dollars in millions) | Otis |  | UTC Climate, Controls & Security |  | Pratt & Whitney |  | UTC Aerospace Systems |  | Total
Product Type |  |  |  |  |  |  |  |  |
Commercial and industrial, non aerospace | $ | 3,223 |  |  | $ | 4,880 |  |  | $ | 5 |  |  | $ | 14 |  |  | $ | 8,122 |
Commercial aerospace | — |  |  | — |  |  | 3,421 |  |  | 3,031 |  |  | 6,452 |
Military aerospace | — |  |  | — |  |  | 1,363 |  |  | 910 |  |  | 2,273 |
Total segment | $ | 3,223 |  |  | $ | 4,880 |  |  | $ | 4,789 |  |  | $ | 3,955 |  |  | 16,847 |
Eliminations and other |  |  |  |  |  |  |  |  | (337 | )
Consolidated |  |  |  |  |  |  |  |  | $ | 16,510 |
Sales Type |  |  |  |  |  |  |  |  |
Product | $ | 1,448 |  |  | $ | 4,106 |  |  | $ | 2,703 |  |  | $ | 3,297 |  |  | $ | 11,554 |
Service | 1,775 |  |  | 774 |  |  | 2,086 |  |  | 658 |  |  | 5,293 |
Total segment | $ | 3,223 |  |  | $ | 4,880 |  |  | $ | 4,789 |  |  | $ | 3,955 |  |  | 16,847 |
Eliminations and other |  |  |  |  |  |  |  |  | (337 | )
Consolidated |  |  |  |  |  |  |  |  | $ | 16,510 |
Segment sales disaggregated by product type and product versus service for the nine months ended September 30, 2018 are as follows:
(dollars in millions) | Otis |  | UTC Climate, Controls & Security |  | Pratt & Whitney |  | UTC Aerospace Systems |  | Total
Product Type |  |  |  |  |  |  |  |  |
Commercial and industrial, non aerospace | $ | 9,604 |  |  | $ | 14,291 |  |  | $ | 31 |  |  | $ | 44 |  |  | $ | 23,970 |
Commercial aerospace | — |  |  | — |  |  | 9,989 |  |  | 8,966 |  |  | 18,955 |
Military aerospace | — |  |  | — |  |  | 3,834 |  |  | 2,724 |  |  | 6,558 |
Total segment | $ | 9,604 |  |  | $ | 14,291 |  |  | $ | 13,854 |  |  | $ | 11,734 |  |  | 49,483 |
Eliminations and other |  |  |  |  |  |  |  |  | (1,026 | )
Consolidated |  |  |  |  |  |  |  |  | $ | 48,457 |
Sales Type |  |  |  |  |  |  |  |  |
Product | $ | 4,192 |  |  | $ | 11,917 |  |  | $ | 8,016 |  |  | $ | 9,825 |  |  | $ | 33,950 |
Service | 5,412 |  |  | 2,374 |  |  | 5,838 |  |  | 1,909 |  |  | 15,533 |
Total segment | $ | 9,604 |  |  | $ | 14,291 |  |  | $ | 13,854 |  |  | $ | 11,734 |  |  | 49,483 |
Eliminations and other |  |  |  |  |  |  |  |  | (1,026 | )
Consolidated |  |  |  |  |  |  |  |  | $ | 48,457 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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