XML 53 R41.htm IDEA: XBRL DOCUMENT
v3.20.2

Segment Financial Data (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2020
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Results for the quarters ended September 30, 2020 and 2019 are as follows:
| Net Sales |  |  |  | Operating Profits |  |  |  | Operating Profit Margins |  |
(dollars in millions) | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
Collins Aerospace Systems | $ | 4,274 |  |  | $ | 6,495 |  |  | $ | 526 |  |  | $ | 1,259 |  |  | 12.3 | % |  | 19.4 | %
Pratt & Whitney | 3,494 |  |  | 5,285 |  |  | (615) |  |  | 520 |  |  | (17.6) | % |  | 9.8 | %
Raytheon Intelligence & Space | 3,674 |  |  | — |  |  | 348 |  |  | — |  |  | 9.5 | % |  | — | %
Raytheon Missiles & Defense | 3,794 |  |  | — |  |  | 453 |  |  | — |  |  | 11.9 | % |  | — | %
Total segment | 15,236 |  |  | 11,780 |  |  | 712 |  |  | 1,779 |  |  | 4.7 | % |  | 15.1 | %
Eliminations and other(1) | (489) |  |  | (407) |  |  | (51) |  |  | (46) |  |  |  |  |
Corporate expenses and other unallocated items (2) | — |  |  | — |  |  | (84) |  |  | (83) |  |  |  |  |
FAS/CAS operating adjustment | — |  |  | — |  |  | 380 |  |  | — |  |  |  |  |
Acquisition accounting adjustments | — |  |  | — |  |  | (523) |  |  | (220) |  |  |  |  |
Consolidated | $ | 14,747 |  |  | $ | 11,373 |  |  | $ | 434 |  |  | $ | 1,430 |  |  | 2.9 | % |  | 12.6 | %
(1) Includes the operating results of certain smaller non-reportable business segments, including Forcepoint, LLC, which was acquired as part of the Raytheon Merger. (2) The net expenses related to the U.S. Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) project of $45 million in the quarter ended September 30, 2020 are included in Corporate operating profit as they are not included in management’s evaluation of business segment results. No amounts were recorded in the quarter ended September 30, 2019. Results for the nine months ended September 30, 2020 and 2019 are as follows:
| Net Sales |  |  |  | Operating Profits |  |  |  | Operating Profit Margins |  |
(dollars in millions) | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
Collins Aerospace Systems | $ | 14,914 |  |  | $ | 19,584 |  |  | $ | 1,455 |  |  | $ | 3,499 |  |  | 9.8 | % |  | 17.9 | %
Pratt & Whitney | 12,334 |  |  | 15,257 |  |  | (597) |  |  | 1,447 |  |  | (4.8) | % |  | 9.5 | %
Raytheon Intelligence & Space | 6,988 |  |  | — |  |  | 659 |  |  | — |  |  | 9.4 | % |  | — | %
Raytheon Missiles & Defense | 7,384 |  |  | — |  |  | 850 |  |  | — |  |  | 11.5 | % |  | — | %
Total segment | 41,620 |  |  | 34,841 |  |  | 2,367 |  |  | 4,946 |  |  | 5.7 | % |  | 14.2 | %
Eliminations and other (1) | (1,452) |  |  | (1,186) |  |  | (104) |  |  | (115) |  |  |  |  |
Corporate expenses and other unallocated items (2) | — |  |  | — |  |  | (491) |  |  | (216) |  |  |  |  |
FAS/CAS operating adjustment | — |  |  | — |  |  | 736 |  |  | — |  |  |  |  |
Acquisition accounting adjustments | — |  |  | — |  |  | (4,539) |  |  | (657) |  |  |  |  |
Consolidated | $ | 40,168 |  |  | $ | 33,655 |  |  | $ | (2,031) |  |  | $ | 3,958 |  |  | (5.1) | % |  | 11.8 | %
(1) Includes the operating results of certain smaller non-reportable business segments, including Forcepoint, LLC, which was acquired as part of the Raytheon Merger. (2) The net expenses related to the U.S. Army’s LTAMDS project of $80 million in the nine months ended September 30, 2020 are included in Corporate operating profit as they are not included in management’s evaluation of business segment results. No amounts were recorded in the nine months ended September 30, 2019.
Reconciliation of Assets from Segment to Consolidated | Total assets by segment are as follows:
| Total Assets |  |
(dollars in millions) | September 30, 2020 |  | December 31, 2019
Collins Aerospace Systems(1) | $ | 68,870 |  |  | $ | 74,049 |
Pratt & Whitney(1) | 32,240 |  |  | 31,170 |
Raytheon Intelligence & Space(1) | 20,509 |  |  | — |
Raytheon Missiles & Defense(1) | 29,720 |  |  | — |
Total segment | 151,339 |  |  | 105,219 |
Corporate and other | 11,004 |  |  | 2,573 |
Assets related to discontinued operations | 56 |  |  | 31,823 |
Consolidated | $ | 162,399 |  |  | $ | 139,615 |
(1) Total assets include acquired intangible assets and property, plant and equipment fair value adjustment. Related amortization expense is included in Acquisition accounting adjustments.
Disaggregation of Revenue | Segment sales disaggregated by geographic region for the quarters ended September 30, 2020 and 2019 are as follows:
| 2020 |  |  |  |  |  |  | 2019 |  |  |  |  |
(dollars in millions) | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total |  | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total
United States | $ | 2,378 |  | $ | 1,856 |  | $ | 2,933 |  | $ | 2,290 |  | $ | 109 |  | $ | 9,566 |  |  | $ | 3,269 |  | $ | 2,260 |  | $ | — |  | $ | — |  | $ | 3 |  | $ | 5,532 |
Asia Pacific | 358 |  | 772 |  | 195 |  | 365 |  | 13 |  | 1,703 |  |  | 644 |  | 1,452 |  | — |  | — |  | — |  | 2,096 |
Middle East and North Africa | 97 |  | 112 |  | 122 |  | 714 |  | 10 |  | 1,055 |  |  | 168 |  | 212 |  | — |  | — |  | — |  | 380 |
Europe | 965 |  | 572 |  | 100 |  | 337 |  | 38 |  | 2,012 |  |  | 1,661 |  | 953 |  | — |  | — |  | — |  | 2,614 |
Canada and All Other | 165 |  | 179 |  | 29 |  | 29 |  | 9 |  | 411 |  |  | 342 |  | 409 |  | — |  | — |  | — |  | 751 |
Consolidated net sales | 3,963 |  | 3,491 |  | 3,379 |  | 3,735 |  | 179 |  | 14,747 |  |  | 6,084 |  | 5,286 |  | — |  | — |  | 3 |  | 11,373 |
Inter-segment sales | 311 |  | 3 |  | 295 |  | 59 |  | (668) |  | — |  |  | 411 |  | (1) |  | — |  | — |  | (410) |  | — |
Business segment sales | $ | 4,274 |  | $ | 3,494 |  | $ | 3,674 |  | $ | 3,794 |  | $ | (489) |  | $ | 14,747 |  |  | $ | 6,495 |  | $ | 5,285 |  | $ | — |  | $ | — |  | $ | (407) |  | $ | 11,373 |
Segment sales disaggregated by geographic region for the nine months ended September 30, 2020 and 2019 are as follows:
| 2020 |  |  |  |  |  |  | 2019 |  |  |  |  |
(dollars in millions) | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total |  | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total
United States | $ | 8,027 |  | $ | 6,103 |  | $ | 5,498 |  | $ | 4,440 |  | $ | 156 |  | $ | 24,224 |  |  | $ | 9,590 |  | $ | 6,353 |  | $ | — |  | $ | — |  | $ | 9 |  | $ | 15,952 |
Asia Pacific | 1,350 |  | 2,980 |  | 390 |  | 716 |  | 26 |  | 5,462 |  |  | 1,822 |  | 3,930 |  | — |  | — |  | — |  | 5,752 |
Middle East and North Africa | 339 |  | 406 |  | 244 |  | 1,434 |  | 18 |  | 2,441 |  |  | 536 |  | 608 |  | — |  | — |  | — |  | 1,144 |
Europe | 3,497 |  | 2,101 |  | 202 |  | 628 |  | 104 |  | 6,532 |  |  | 5,341 |  | 3,126 |  | — |  | — |  | — |  | 8,467 |
Canada and All Other | 651 |  | 738 |  | 53 |  | 43 |  | 24 |  | 1,509 |  |  | 1,097 |  | 1,243 |  | — |  | — |  | — |  | 2,340 |
Consolidated net sales | 13,864 |  | 12,328 |  | 6,387 |  | 7,261 |  | 328 |  | 40,168 |  |  | 18,386 |  | 15,260 |  | — |  | — |  | 9 |  | 33,655 |
Inter-segment sales | 1,050 |  | 6 |  | 601 |  | 123 |  | (1,780) |  | — |  |  | 1,198 |  | (3) |  | — |  | — |  | (1,195) |  | — |
Business segment sales | $ | 14,914 |  | $ | 12,334 |  | $ | 6,988 |  | $ | 7,384 |  | $ | (1,452) |  | $ | 40,168 |  |  | $ | 19,584 |  | $ | 15,257 |  | $ | — |  | $ | — |  | $ | (1,186) |  | $ | 33,655 |
Segment sales disaggregated by customer for the quarters ended September 30, 2020 and 2019 are as follows:
| 2020 |  |  |  |  |  |  | 2019 |  |  |  |  |
(dollars in millions) | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total |  | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total
U.S. government(1) | $ | 1,238 |  | $ | 1,270 |  | $ | 2,879 |  | $ | 2,288 |  | $ | 72 |  | $ | 7,747 |  |  | $ | 1,222 |  | $ | 1,091 |  | $ | — |  | $ | — |  | $ | — |  | $ | 2,313 |
Foreign military sales through the U.S. government | 34 |  | 325 |  | 185 |  | 828 |  | — |  | 1,372 |  |  | 64 |  | 335 |  | — |  | — |  | — |  | 399 |
Foreign government direct commercial sales | 230 |  | 120 |  | 240 |  | 594 |  | 2 |  | 1,186 |  |  | 217 |  | 98 |  | — |  | — |  | — |  | 315 |
Commercial aerospace and other commercial | 2,461 |  | 1,776 |  | 75 |  | 25 |  | 105 |  | 4,442 |  |  | 4,581 |  | 3,762 |  | — |  | — |  | 3 |  | 8,346 |
Consolidated net sales | 3,963 |  | 3,491 |  | 3,379 |  | 3,735 |  | 179 |  | 14,747 |  |  | 6,084 |  | 5,286 |  | — |  | — |  | 3 |  | 11,373 |
Inter-segment sales | 311 |  | 3 |  | 295 |  | 59 |  | (668) |  | — |  |  | 411 |  | (1) |  | — |  | — |  | (410) |  | — |
Business segment sales | $ | 4,274 |  | $ | 3,494 |  | $ | 3,674 |  | $ | 3,794 |  | $ | (489) |  | $ | 14,747 |  |  | $ | 6,495 |  | $ | 5,285 |  | $ | — |  | $ | — |  | $ | (407) |  | $ | 11,373 |
(1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by customer for the nine months ended September 30, 2020 and 2019 are as follows:
| 2020 |  |  |  |  |  |  | 2019 |  |  |  |  |
(dollars in millions) | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total |  | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total
U.S. government(1) | $ | 3,880 |  | $ | 3,792 |  | $ | 5,376 |  | $ | 4,429 |  | $ | 126 |  | $ | 17,603 |  |  | $ | 3,534 |  | $ | 3,243 |  | $ | — |  | $ | — |  | $ | — |  | $ | 6,777 |
Foreign military sales through the U.S. government | 166 |  | 877 |  | 387 |  | 1,610 |  | — |  | 3,040 |  |  | 190 |  | 901 |  | — |  | — |  | — |  | 1,091 |
Foreign government direct commercial sales | 659 |  | 380 |  | 449 |  | 1,163 |  | 2 |  | 2,653 |  |  | 700 |  | 382 |  | — |  | — |  | — |  | 1,082 |
Commercial aerospace and other commercial | 9,159 |  | 7,279 |  | 175 |  | 59 |  | 200 |  | 16,872 |  |  | 13,962 |  | 10,734 |  | — |  | — |  | 9 |  | 24,705 |
Consolidated net sales | 13,864 |  | 12,328 |  | 6,387 |  | 7,261 |  | 328 |  | 40,168 |  |  | 18,386 |  | 15,260 |  | — |  | — |  | 9 |  | 33,655 |
Inter-segment sales | 1,050 |  | 6 |  | 601 |  | 123 |  | (1,780) |  | — |  |  | 1,198 |  | (3) |  | — |  | — |  | (1,195) |  | — |
Business segment sales | $ | 14,914 |  | $ | 12,334 |  | $ | 6,988 |  | $ | 7,384 |  | $ | (1,452) |  | $ | 40,168 |  |  | $ | 19,584 |  | $ | 15,257 |  | $ | — |  | $ | — |  | $ | (1,186) |  | $ | 33,655 |
(1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by sales type for the quarters ended September 30, 2020 and 2019 are as follows:
| 2020 |  |  |  |  |  |  | 2019 |  |  |  |  |
(dollars in millions) | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total |  | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total
Product | $ | 3,231 |  | $ | 2,142 |  | $ | 2,534 |  | $ | 3,405 |  | $ | 157 |  | $ | 11,469 |  |  | $ | 4,973 |  | $ | 3,235 |  | $ | — |  | $ | — |  | $ | 3 |  | $ | 8,211 |
Service | 732 |  | 1,349 |  | 845 |  | 330 |  | 22 |  | 3,278 |  |  | 1,111 |  | 2,051 |  | — |  | — |  | — |  | 3,162 |
Consolidated net sales | $ | 3,963 |  | $ | 3,491 |  | $ | 3,379 |  | $ | 3,735 |  | $ | 179 |  | $ | 14,747 |  |  | $ | 6,084 |  | $ | 5,286 |  | $ | — |  | $ | — |  | $ | 3 |  | $ | 11,373 |
Inter-segment sales | 311 |  | 3 |  | 295 |  | 59 |  | (668) |  | — |  |  | 411 |  | (1) |  | — |  | — |  | (410) |  | — |
Business segment sales | $ | 4,274 |  | $ | 3,494 |  | $ | 3,674 |  | $ | 3,794 |  | $ | (489) |  | $ | 14,747 |  |  | $ | 6,495 |  | $ | 5,285 |  | $ | — |  | $ | — |  | $ | (407) |  | $ | 11,373 |
Segment sales disaggregated by sales type for the nine months ended September 30, 2020 and 2019 are as follows:
| 2020 |  |  |  |  |  |  | 2019 |  |  |  |  |
(dollars in millions) | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total |  | Collins Aerospace Systems | Pratt & Whitney | Raytheon Intelligence & Space | Raytheon Missiles & Defense | Other | Total
Product | $ | 11,325 |  | $ | 7,285 |  | $ | 4,867 |  | $ | 6,637 |  | $ | 288 |  | $ | 30,402 |  |  | $ | 15,105 |  | $ | 9,521 |  | $ | — |  | $ | — |  | $ | 9 |  | $ | 24,635 |
Service | 2,539 |  | 5,043 |  | 1,520 |  | 624 |  | 40 |  | 9,766 |  |  | 3,281 |  | 5,739 |  | — |  | — |  | — |  | 9,020 |
Consolidated net sales | $ | 13,864 |  | $ | 12,328 |  | $ | 6,387 |  | $ | 7,261 |  | $ | 328 |  | $ | 40,168 |  |  | $ | 18,386 |  | $ | 15,260 |  | $ | — |  | $ | — |  | $ | 9 |  | $ | 33,655 |
Inter-segment sales | 1,050 |  | 6 |  | 601 |  | 123 |  | (1,780) |  | — |  |  | 1,198 |  | (3) |  | — |  | — |  | (1,195) |  | — |
Business segment sales | $ | 14,914 |  | $ | 12,334 |  | $ | 6,988 |  | $ | 7,384 |  | $ | (1,452) |  | $ | 40,168 |  |  | $ | 19,584 |  | $ | 15,257 |  | $ | — |  | $ | — |  | $ | (1,186) |  | $ | 33,655 |
RIS and RMD segment sales disaggregated by contract type for the quarter and nine months ended September 30, 2020 are as follows:
| Quarter Ended September 30, 2020 |  |  |  | Nine Months Ended September 30, 2020 |  |
(dollars in millions) | Raytheon Intelligence & Space | Raytheon Missiles & Defense |  |  | Raytheon Intelligence & Space | Raytheon Missiles & Defense |
Fixed-price | $ | 1,443 |  | $ | 2,404 |  |  |  | $ | 2,646 |  | $ | 4,582 |  |
Cost-type | 1,936 |  | 1,331 |  |  |  | 3,741 |  | 2,679 |  |
Consolidated net sales | $ | 3,379 |  | $ | 3,735 |  |  |  | $ | 6,387 |  | $ | 7,261 |  |

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration