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v3.21.1

Segment Financial Data (Tables) | 3 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Results for the quarters ended March 31, 2021 and 2020 are as follows:
| Net Sales |  | Operating Profit |  | Operating Profit Margins
(dollars in millions) | 2021 |  | 2020 |  | 2021 |  | 2020 |  | 2021 |  | 2020
Collins Aerospace Systems | $ | 4,370 |  |  | $ | 6,438 |  |  | $ | 314 |  |  | $ | 1,246 |  |  | 7.2 | % |  | 19.4 | %
Pratt & Whitney | 4,030 |  |  | 5,353 |  |  | 20 |  |  | 475 |  |  | 0.5 | % |  | 8.9 | %
Raytheon Intelligence & Space | 3,765 |  |  | — |  |  | 388 |  |  | — |  |  | 10.3 | % |  | — | %
Raytheon Missiles & Defense | 3,793 |  |  | — |  |  | 496 |  |  | — |  |  | 13.1 | % |  | — | %
Total segment | 15,958 |  |  | 11,791 |  |  | 1,218 |  |  | 1,721 |  |  | 7.6 | % |  | 14.6 | %
Eliminations and other(1) | (707) |  |  | (431) |  |  | (31) |  |  | (25) |  |  |  |  |
Corporate expenses and other unallocated items (2) | — |  |  | — |  |  | (81) |  |  | (130) |  |  |  |  |
FAS/CAS operating adjustment | — |  |  | — |  |  | 423 |  |  | — |  |  |  |  |
Acquisition accounting adjustments | — |  |  | — |  |  | (516) |  |  | (271) |  |  |  |  |
Consolidated | $ | 15,251 |  |  | $ | 11,360 |  |  | $ | 1,013 |  |  | $ | 1,295 |  |  | 6.6 | % |  | 11.4 | %
(1) Includes the operating results of certain smaller non-reportable business segments. (2) The net expenses related to the U.S. Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) project of $58 million in the quarter ended March 31, 2021 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 March 31, 2020.
Disaggregation of Revenue | Segment sales disaggregated by geographic region for the quarters ended March 31, 2021 and 2020 are as follows:
| 2021 |  | 2020
(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 | $ | 2,242 |  | $ | 2,159 |  | $ | 2,965 |  | $ | 2,357 |  | $ | 7 |  | $ | 9,730 |  |  | $ | 3,144 |  | $ | 2,355 |  | $ | — |  | $ | — |  | $ | 5 |  | $ | 5,504 |
Asia Pacific | 405 |  | 793 |  | 204 |  | 370 |  | — |  | 1,772 |  |  | 604 |  | 1,421 |  | — |  | — |  | — |  | 2,025 |
Middle East and North Africa | 95 |  | 104 |  | 133 |  | 660 |  | — |  | 992 |  |  | 143 |  | 172 |  | — |  | — |  | — |  | 315 |
Europe | 1,079 |  | 626 |  | 114 |  | 327 |  | 1 |  | 2,147 |  |  | 1,745 |  | 1,017 |  | — |  | — |  | — |  | 2,762 |
Canada and All Other | 217 |  | 348 |  | 29 |  | 16 |  | — |  | 610 |  |  | 372 |  | 382 |  | — |  | — |  | — |  | 754 |
Consolidated net sales | 4,038 |  | 4,030 |  | 3,445 |  | 3,730 |  | 8 |  | 15,251 |  |  | 6,008 |  | 5,347 |  | — |  | — |  | 5 |  | 11,360 |
Inter-segment sales | 332 |  | — |  | 320 |  | 63 |  | (715) |  | — |  |  | 430 |  | 6 |  | — |  | — |  | (436) |  | — |
Business segment sales | $ | 4,370 |  | $ | 4,030 |  | $ | 3,765 |  | $ | 3,793 |  | $ | (707) |  | $ | 15,251 |  |  | $ | 6,438 |  | $ | 5,353 |  | $ | — |  | $ | — |  | $ | (431) |  | $ | 11,360 |
Segment sales disaggregated by customer for the quarters ended March 31, 2021 and 2020 are as follows:
| 2021 |  | 2020
(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) | $ | 1,222 |  | $ | 1,262 |  | $ | 2,900 |  | $ | 2,357 |  | $ | 7 |  | $ | 7,748 |  |  | $ | 1,289 |  | $ | 1,239 |  | $ | — |  | $ | — |  | $ | — |  | $ | 2,528 |
Foreign military sales through the U.S. government | 40 |  | 242 |  | 208 |  | 805 |  | — |  | 1,295 |  |  | 55 |  | 271 |  | — |  | — |  | — |  | 326 |
Foreign government direct commercial sales | 245 |  | 139 |  | 229 |  | 567 |  | — |  | 1,180 |  |  | 225 |  | 138 |  | — |  | — |  | — |  | 363 |
Commercial aerospace and other commercial | 2,531 |  | 2,387 |  | 108 |  | 1 |  | 1 |  | 5,028 |  |  | 4,439 |  | 3,699 |  | — |  | — |  | 5 |  | 8,143 |
Consolidated net sales | 4,038 |  | 4,030 |  | 3,445 |  | 3,730 |  | 8 |  | 15,251 |  |  | 6,008 |  | 5,347 |  | — |  | — |  | 5 |  | 11,360 |
Inter-segment sales | 332 |  | — |  | 320 |  | 63 |  | (715) |  | — |  |  | 430 |  | 6 |  | — |  | — |  | (436) |  | — |
Business segment sales | $ | 4,370 |  | $ | 4,030 |  | $ | 3,765 |  | $ | 3,793 |  | $ | (707) |  | $ | 15,251 |  |  | $ | 6,438 |  | $ | 5,353 |  | $ | — |  | $ | — |  | $ | (431) |  | $ | 11,360 |
(1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by sales type for the quarters ended March 31, 2021 and 2020 are as follows:
| 2021 |  | 2020
(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 | $ | 3,182 |  | $ | 2,423 |  | $ | 2,676 |  | $ | 3,375 |  | $ | 8 |  | $ | 11,664 |  |  | $ | 4,905 |  | $ | 3,255 |  | $ | — |  | $ | — |  | $ | 5 |  | $ | 8,165 |
Service | 856 |  | 1,607 |  | 769 |  | 355 |  | — |  | 3,587 |  |  | 1,103 |  | 2,092 |  | — |  | — |  | — |  | 3,195 |
Consolidated net sales | 4,038 |  | 4,030 |  | 3,445 |  | 3,730 |  | 8 |  | 15,251 |  |  | 6,008 |  | 5,347 |  | — |  | — |  | 5 |  | 11,360 |
Inter-segment sales | 332 |  | — |  | 320 |  | 63 |  | (715) |  | — |  |  | 430 |  | 6 |  | — |  | — |  | (436) |  | — |
Business segment sales | $ | 4,370 |  | $ | 4,030 |  | $ | 3,765 |  | $ | 3,793 |  | $ | (707) |  | $ | 15,251 |  |  | $ | 6,438 |  | $ | 5,353 |  | $ | — |  | $ | — |  | $ | (431) |  | $ | 11,360 |
RIS and RMD segment sales disaggregated by contract type for the quarter ended March 31, 2021 are as follows:
| 2021 |  |
(dollars in millions) | Raytheon Intelligence & Space | Raytheon Missiles & Defense |  |  |  |  |
Fixed-price | $ | 1,471 |  | $ | 2,251 |  |  |  |  |  |
Cost-type | 1,974 |  | 1,479 |  |  |  |  |  |
Consolidated net sales | $ | 3,445 |  | $ | 3,730 |  |  |  |  |  |

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