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Acquisitions, Dispositions, Goodwill and Other Intangible Assets Business Acquisitions, Dispositions, Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2020
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] |
Schedule of Goodwill [Table Text Block] | Changes in our goodwill balances for the quarter ended March 31, 2020 were as follows:
(dollars in millions) | Balance as of January 1, 2020 |  | Goodwill Resulting from Business Combinations |  | Foreign Currency Translation and Other |  | Balance as of March 31, 2020
Otis | $ | 1,647 |  |  | $ | — |  |  | $ | (39) |  |  | $ | 1,608 |
Carrier | 9,807 |  |  | — |  |  | (208) |  |  | 9,599 |
Pratt & Whitney | 1,563 |  |  | — |  |  | — |  |  | 1,563 |
Collins Aerospace Systems | 35,025 |  |  | — |  |  | (335) |  |  | 34,690 |
Total Segments | 48,042 |  |  | — |  |  | (582) |  |  | 47,460 |
Eliminations and other | 21 |  |  | — |  |  | — |  |  | 21 |
Total | $ | 48,063 |  |  | $ | — |  |  | $ | (582) |  |  | $ | 47,481 |
Schedule of Indefinite-Lived Intangible Assets [Table Text Block] | Identifiable intangible assets are comprised of the following:
| March 31, 2020 |  |  |  | December 31, 2019 |  |
(dollars in millions) | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Amortized: |  |  |  |  |  |  |
Service portfolios | $ | 2,052 |  |  | $ | (1,600) |  |  | $ | 2,105 |  |  | $ | (1,626) |
Patents and trademarks | 350 |  |  | (249) |  |  | 356 |  |  | (250) |
Collaboration intangible assets | 4,940 |  |  | (990) |  |  | 4,862 |  |  | (920) |
Customer relationships and other | 23,084 |  |  | (5,795) |  |  | 23,210 |  |  | (5,607) |
| 30,426 |  |  | (8,634) |  |  | 30,533 |  |  | (8,403) |
Unamortized: |  |  |  |  |  |  |
Trademarks and other1 | 3,808 |  |  | — |  |  | 3,916 |  |  | — |
Total | $ | 34,234 |  |  | $ | (8,634) |  |  | $ | 34,449 |  |  | $ | (8,403) |
1The reduction in Trademarks and other includes a $40 million impairment charge related to a tradename at Collins Aerospace resulting from an assessment of the impact of the COVID-19 pandemic performed during the quarter ended March 31, 2020.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following is the expected amortization of intangible assets for the years 2020 through 2025, which reflects the pattern of expected economic benefit on certain aerospace intangible assets. The table below includes the expected amortization of the intangible assets of Otis and Carrier as of March 31, 2020.
(dollars in millions) |  | Remaining 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025
Amortization expense |  | $ | 1,036 |  |  | $ | 1,401 |  |  | $ | 1,385 |  |  | $ | 1,377 |  |  | $ | 1,347 |  |  | $ | 1,327 |
Raytheon Company [Member] |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments [Table Text Block] | Supplemental Pro-Forma Data: Raytheon Company's results of operations have not been included in our financial statements for the quarter ended March 31, 2020 as the Raytheon Merger was completed on April 3, 2020. The following unaudited supplemental pro-forma data presents consolidated information as if the Raytheon Merger had been completed on January 1, 2019. The pro-forma results were calculated by combining the results of Raytheon Technologies with the stand-alone results of Raytheon Company for the pre-acquisition periods, which were adjusted to account for certain costs that would have been incurred during this pre-acquisition period. The results below reflect Raytheon Technologies excluding the results of Carrier and Otis, in order to more accurately represent the structure of Raytheon Technologies after completion of the Raytheon Merger.
| Quarter Ended March 31, |  |
(dollars in millions, except per share amounts; shares in millions) | 2020 |  | 2019
Net sales | $ | 18,451 |  |  | $ | 17,623 |
Net income attributable to common shareowners | $ | 1,760 |  |  | $ | 1,599 |
Basic earnings per share of common stock | $ | 1.17 |  |  | $ | 1.06 |
Diluted earnings per share of common stock | $ | 1.16 |  |  | $ | 1.06 |
The unaudited supplemental pro-forma data above includes the following significant adjustments made to account for certain costs which would have been incurred if the acquisition had been completed on January 1, 2019, as adjusted for the applicable tax impact.
| Quarter Ended March 31, |  |
(dollars in millions) | 2020 |  | 2019
Amortization of acquired Raytheon Company intangible assets, net 1 | $ | (273) |  |  | $ | (266) |
Amortization of fixed asset fair value adjustment 2 | (9) |  |  | (10) |
Utilization of contractual customer obligation 3 | 8 |  |  | 15 |
Deferred revenue fair value adjustment 4 | (4) |  |  | (9) |
Adjustment to net periodic pension cost 5 | 239 |  |  | 241 |
RTC/Raytheon fees for advisory, legal, accounting services 6 | 34 |  |  | — |
Adjustment to interest expense related to debt distributions and Raytheon Merger, net 7 | 106 |  |  | 131 |
Elimination of deferred commission amortization 8 | 5 |  |  | 3 |
Otis and Carrier separation9 | 949 |  |  | (634) |
| $ | 1,055 |  |  | $ | (529) |
1 Reflects the additional amortization of the acquired Raytheon Company's intangible assets recognized at fair value in purchase accounting and eliminates the historical Raytheon Company intangible asset amortization expense. 2 Reflects the amortization of the fixed asset fair value adjustment as of the acquisition date. 3 Reflects the additional amortization of liabilities recognized for acquired contracts with terms less favorable than could be realized in market transactions as of the acquisition date. 4 Reflects the difference between prepayments related to extended arrangements and the preliminary fair value of the assumed performance obligations as they are satisfied. 5 Represents the impact of the pension and postretirement service cost expense as determined under RTC’s plan assumptions. 6 Reflects the elimination of transaction-related fees incurred by RTC and Raytheon Company in connection with the Raytheon Merger and assumes all of the fees were incurred during the first quarter of 2019. 7 Reflects a reduction in interest expense as result of RTC's paydown of debt to meet its targeted indebtedness, in connection with the Raytheon Merger. 8 Reflects the elimination of amortization recognized on deferred commissions that are eliminated in purchase accounting. 9 Reflects the impact of the Separation Transactions and Distributions. Pro Forma Information Including the Results of Otis and Carrier: The following unaudited supplemental pro-forma data presents consolidated information as if the Raytheon Merger had been completed on January 1, 2019. The pro-forma results were calculated by combining the results of Raytheon Technologies, including the results of Carrier and Otis, with the stand-alone results of Raytheon Company for the pre-acquisition periods, which were adjusted to account for certain costs that would have been incurred during this pre-acquisition period. Significant adjustments made to account for certain costs which would have been incurred if the acquisition had been completed on January 1, 2019 were consistent with the adjustments presented in the table above.
| Quarter Ended March 31, |  |
(dollars in millions, except per share amounts; shares in millions) | 2020 |  | 2019
Net sales | $ | 25,301 |  |  | $ | 25,035 |
Net income attributable to common shareowners | $ | 709 |  |  | $ | 1,942 |
Basic earnings per share of common stock | $ | 0.47 |  |  | $ | 1.29 |
Diluted earnings per share of common stock | $ | 0.47 |  |  | $ | 1.28 |
The unaudited supplemental pro-forma financial data does not reflect the potential realization of cost savings related to the integration of the two companies. Further, the pro-forma data should not be considered indicative of the results that would have occurred if the acquisition had been consummated on January 1, 2019, nor are they indicative of future results.

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