XML 48 R35.htm IDEA: XBRL DOCUMENT
v3.21.2

Borrowings and Lines of Credit (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Debt Disclosure [Abstract] |
Schedule of Short-Term Debt [Table Text Block] |
(dollars in millions) | June 30, 2021 |  | December 31, 2020
Commercial paper | $ | 160 |  |  | $ | 160 |
Other borrowings | 36 |  |  | 87 |
Total short-term borrowings | $ | 196 |  |  | $ | 247 |
Schedule of Long Term Debt Issuances | We had the following issuances of long-term debt during the six months ended June 30, 2020, which is inclusive of issuances made by Carrier and Otis prior to the Distributions, the proceeds of which were primarily used by the Company to extinguish Raytheon Technologies short-term and long-term debt, and therefore, these issuances were treated as a distribution from discontinued operations within financing activities from continuing operations on our Condensed Consolidated Statement of Cash Flows:
Issuance Date | Description of Notes | Aggregate Principal Balance (in millions) |
May 18, 2020 | 2.250% notes due 2030 | $ | 1,000 |  |
| 3.125% notes due 2050 | 1,000 |  |
March 27, 2020 | Term Loan due 2023 (Otis) (1) | 1,000 |  |
| Term Loan due 2023 (Carrier) (1) | 1,750 |  |
February 27, 2020 | 1.923% notes due 2023 (1) | 500 |  |
| LIBOR plus 0.450% floating rate notes due 2023 (1) | 500 |  |
| 2.056% notes due 2025 (1) | 1,300 |  |
| 2.242% notes due 2025 (1) | 2,000 |  |
| 2.293% notes due 2027 (1) | 500 |  |
| 2.493% notes due 2027 (1) | 1,250 |  |
| 2.565% notes due 2030 (1) | 1,500 |  |
| 2.722% notes due 2030 (1) | 2,000 |  |
| 3.112% notes due 2040 (1) | 750 |  |
| 3.377% notes due 2040 (1) | 1,500 |  |
| 3.362% notes due 2050 (1) | 750 |  |
| 3.577% notes due 2050 (1) | 2,000 |  |
(1) The debt issuances and term loan draws reflect debt incurred by Carrier and Otis. The net proceeds of these issuances were primarily utilized to extinguish Raytheon Technologies short-term and long-term debt in order to not exceed the maximum applicable net indebtedness required by the Raytheon Merger Agreement.
Schedule of Long Term Debt Repayments | We made the following repayments of long-term debt during the six months ended June 30, 2021 and 2020:
Repayment Date | Description of Notes | Aggregate Principal Balance (in millions)
March 1, 2021 | 8.750% notes due 2021 | $ | 250 |
May 19, 2020 | 3.650% notes due 2023 (1)(2) | 410 |
May 15, 2020 | EURIBOR plus 0.20% floating rate notes due 2020 (€750 million principal value)(2) | 817 |
March 29, 2020 | 4.500% notes due 2020 (1)(2) | 1,250 |
| 1.125% notes due 2021 (€950 million principal value) (1)(2) | 1,082 |
| 1.250% notes due 2023 (€750 million principal value) (1)(2) | 836 |
| 1.150% notes due 2024 (€750 million principal value) (1)(2) | 841 |
| 1.875% notes due 2026 (€500 million principal value) (1)(2) | 567 |
March 3, 2020 | 1.900% notes due 2020 (1)(2) | 1,000 |
| 3.350% notes due 2021 (1)(2) | 1,000 |
| LIBOR plus 0.650% floating rate notes due 2021 (1)(2) | 750 |
| 1.950% notes due 2021 (1)(2) | 750 |
| 2.300% notes due 2022 (1)(2) | 500 |
| 3.100% notes due 2022 (1)(2) | 2,300 |
| 2.800% notes due 2024 (1)(2) | 800 |
March 2, 2020 | 4.875% notes due 2020 (1)(2) | 171 |
February 28, 2020 | 3.650% notes due 2023 (1)(2) | 1,669 |
| 2.650% notes due 2026 (1)(2) | 431 |
(1) In connection with the early repayment of outstanding principal, Raytheon Technologies recorded debt extinguishment costs of $43 million and $703 million for the quarter and six months ended June 30, 2020, which are classified as discontinued operations in our Condensed Consolidated Statement of Operations as we would not have had to redeem the debt, except for the Separation Transactions. No proceeds of the notes issued May 18, 2020 were used to fund the May 19, 2020 redemption. (2) Extinguishment of Raytheon Technologies short-term and long-term debt in order to not exceed the maximum net indebtedness required by the Raytheon Merger Agreement.
Schedule of Long-term Debt [Table Text Block] | Long-term debt consisted of the following:
(dollars in millions) | June 30, 2021 |  | December 31, 2020
8.750% notes due 2021 | $ | — |  |  | $ | 250 |
3.100% notes due 2021 | 250 |  |  | 250 |
2.800% notes due 2022 | 1,100 |  |  | 1,100 |
2.500% notes due 2022 (2) | 1,100 |  |  | 1,100 |
3.650% notes due 2023 (1) | 171 |  |  | 171 |
3.700% notes due 2023 | 400 |  |  | 400 |
3.200% notes due 2024 | 950 |  |  | 950 |
3.150% notes due 2024 (2) | 300 |  |  | 300 |
3.950% notes due 2025 (1) | 1,500 |  |  | 1,500 |
2.650% notes due 2026 (1) | 719 |  |  | 719 |
3.125% notes due 2027 (1) | 1,100 |  |  | 1,100 |
3.500% notes due 2027 | 1,300 |  |  | 1,300 |
7.200% notes due 2027 (2) | 382 |  |  | 382 |
7.100% notes due 2027 | 141 |  |  | 141 |
6.700% notes due 2028 | 400 |  |  | 400 |
7.000% notes due 2028 (2) | 185 |  |  | 185 |
4.125% notes due 2028 (1) | 3,000 |  |  | 3,000 |
7.500% notes due 2029 (1) | 550 |  |  | 550 |
2.150% notes due 2030 (€500 million principal value) (1) | 598 |  |  | 612 |
2.250% notes due 2030 (1) | 1,000 |  |  | 1,000 |
5.400% notes due 2035 (1) | 600 |  |  | 600 |
6.050% notes due 2036 (1) | 600 |  |  | 600 |
6.800% notes due 2036 (1) | 134 |  |  | 134 |
7.000% notes due 2038 | 159 |  |  | 159 |
6.125% notes due 2038 (1) | 1,000 |  |  | 1,000 |
4.450% notes due 2038 (1) | 750 |  |  | 750 |
5.700% notes due 2040 (1) | 1,000 |  |  | 1,000 |
4.875% notes due 2040 (2) | 600 |  |  | 600 |
4.700% notes due 2041 (2) | 425 |  |  | 425 |
4.500% notes due 2042 (1) | 3,500 |  |  | 3,500 |
4.800% notes due 2043 | 400 |  |  | 400 |
4.200% notes due 2044 (2) | 300 |  |  | 300 |
4.150% notes due 2045 (1) | 850 |  |  | 850 |
3.750% notes due 2046 (1) | 1,100 |  |  | 1,100 |
4.050% notes due 2047 (1) | 600 |  |  | 600 |
4.350% notes due 2047 | 1,000 |  |  | 1,000 |
4.625% notes due 2048 (1) | 1,750 |  |  | 1,750 |
3.125% notes due 2050 (1) | 1,000 |  |  | 1,000 |
Other (including finance leases) | 273 |  |  | 292 |
Total principal long-term debt | 31,187 |  |  | 31,470 |
Other (fair market value adjustments, (discounts)/premiums, and debt issuance costs) | 99 |  |  | 106 |
Total long-term debt | 31,286 |  |  | 31,576 |
Less: current portion | 1,370 |  |  | 550 |
Long-term debt, net of current portion | $ | 29,916 |  |  | $ | 31,026 |
(1) We may redeem these notes at our option pursuant to their terms. (2) Debt assumed in the Raytheon Merger.
Schedule of Weighted average interest rates [Table Text Block] | The average interest expense rate on our total borrowings for the quarters and six months ended June 30, 2021 and 2020 was as follows:
| Quarter Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Average interest expense rate | 4.2 | % |  | 3.8 | % |  | 4.1 | % |  | 3.8 | %

X
- Definition Schedule of Long Term Debt Issuances + References No definition available. + Details
Name: | rtx_ScheduleOfLongTermDebtIssuancesTableTextBlock
Namespace Prefix: | rtx_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Long Term Debt Repayments + References No definition available. + Details
Name: | rtx_ScheduleOfLongTermDebtRepaymentsTableTextBlock
Namespace Prefix: | rtx_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition [Table Text Block] for Schedule of weighted-average interest rates for short-term borrowings and total debt. Percentages are categorized by average outstanding borrowings during the year and outstanding borrowings as of the end of the year. + References No definition available. + Details
Name: | rtx_ScheduleofWeightedaverageinterestratesTableTextBlock
Namespace Prefix: | rtx_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration