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v3.22.1

Segment Financial Data (Tables) | 3 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Results for the quarters ended March 31, 2022 and 2021 are as follows:
| Net Sales |  | Operating Profit |  | Operating Profit Margins
(dollars in millions) | 2022 |  | 2021 |  | 2022 |  | 2021 |  | 2022 |  | 2021
Collins Aerospace Systems | $ | 4,824 |  |  | $ | 4,370 |  |  | $ | 440 |  |  | $ | 314 |  |  | 9.1 | % |  | 7.2 | %
Pratt & Whitney | 4,529 |  |  | 4,030 |  |  | 151 |  |  | 20 |  |  | 3.3 | % |  | 0.5 | %
Raytheon Intelligence & Space | 3,572 |  |  | 3,765 |  |  | 378 |  |  | 388 |  |  | 10.6 | % |  | 10.3 | %
Raytheon Missiles & Defense | 3,527 |  |  | 3,793 |  |  | 387 |  |  | 496 |  |  | 11.0 | % |  | 13.1 | %
Total segment | 16,452 |  |  | 15,958 |  |  | 1,356 |  |  | 1,218 |  |  | 8.2 | % |  | 7.6 | %
Eliminations and other(1) | (736) |  |  | (707) |  |  | (34) |  |  | (31) |  |  |  |  |
Corporate expenses and other unallocated items (2) | — |  |  | — |  |  | (136) |  |  | (81) |  |  |  |  |
FAS/CAS operating adjustment | — |  |  | — |  |  | 378 |  |  | 423 |  |  |  |  |
Acquisition accounting adjustments | — |  |  | — |  |  | (484) |  |  | (516) |  |  |  |  |
Consolidated | $ | 15,716 |  |  | $ | 15,251 |  |  | $ | 1,080 |  |  | $ | 1,013 |  |  | 6.9 | % |  | 6.6 | %
(1) Includes the operating results of certain smaller non-reportable business segments. (2) Includes the net expenses related to the U.S. Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) project.
Disaggregation of Revenue | Segment sales disaggregated by geographic region for the quarters ended March 31, 2022 and 2021 are as follows:
| 2022 |  | 2021
(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 | $ | 2,249 |  | $ | 2,312 |  | $ | 2,866 |  | $ | 2,299 |  | $ | 4 |  | $ | 9,730 |  |  | $ | 2,242 |  | $ | 2,159 |  | $ | 2,965 |  | $ | 2,357 |  | $ | 7 |  | $ | 9,730 |
Europe | 1,314 |  | 879 |  | 107 |  | 272 |  | — |  | 2,572 |  |  | 1,079 |  | 626 |  | 114 |  | 327 |  | 1 |  | 2,147 |
Asia Pacific | 497 |  | 873 |  | 163 |  | 324 |  | — |  | 1,857 |  |  | 405 |  | 793 |  | 204 |  | 370 |  | — |  | 1,772 |
Middle East and North Africa | 112 |  | 78 |  | 81 |  | 558 |  | — |  | 829 |  |  | 95 |  | 104 |  | 133 |  | 660 |  | — |  | 992 |
Canada and All Other | 293 |  | 387 |  | 36 |  | 12 |  | — |  | 728 |  |  | 217 |  | 348 |  | 29 |  | 16 |  | — |  | 610 |
Consolidated net sales | 4,465 |  | 4,529 |  | 3,253 |  | 3,465 |  | 4 |  | 15,716 |  |  | 4,038 |  | 4,030 |  | 3,445 |  | 3,730 |  | 8 |  | 15,251 |
Inter-segment sales | 359 |  | — |  | 319 |  | 62 |  | (740) |  | — |  |  | 332 |  | — |  | 320 |  | 63 |  | (715) |  | — |
Business segment sales | $ | 4,824 |  | $ | 4,529 |  | $ | 3,572 |  | $ | 3,527 |  | $ | (736) |  | $ | 15,716 |  |  | $ | 4,370 |  | $ | 4,030 |  | $ | 3,765 |  | $ | 3,793 |  | $ | (707) |  | $ | 15,251 |
Segment sales disaggregated by customer for the quarters ended March 31, 2022 and 2021 are as follows:
| 2022 |  | 2021
(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) | $ | 1,051 |  | $ | 1,174 |  | $ | 2,812 |  | $ | 2,297 |  | $ | 4 |  | $ | 7,338 |  |  | $ | 1,222 |  | $ | 1,262 |  | $ | 2,900 |  | $ | 2,357 |  | $ | 7 |  | $ | 7,748 |
Foreign military sales through the U.S. government | 54 |  | 197 |  | 160 |  | 765 |  | — |  | 1,176 |  |  | 40 |  | 242 |  | 208 |  | 805 |  | — |  | 1,295 |
Foreign government direct commercial sales | 251 |  | 103 |  | 204 |  | 401 |  | — |  | 959 |  |  | 245 |  | 139 |  | 229 |  | 567 |  | — |  | 1,180 |
Commercial aerospace and other commercial | 3,109 |  | 3,055 |  | 77 |  | 2 |  | — |  | 6,243 |  |  | 2,531 |  | 2,387 |  | 108 |  | 1 |  | 1 |  | 5,028 |
Consolidated net sales | 4,465 |  | 4,529 |  | 3,253 |  | 3,465 |  | 4 |  | 15,716 |  |  | 4,038 |  | 4,030 |  | 3,445 |  | 3,730 |  | 8 |  | 15,251 |
Inter-segment sales | 359 |  | — |  | 319 |  | 62 |  | (740) |  | — |  |  | 332 |  | — |  | 320 |  | 63 |  | (715) |  | — |
Business segment sales | $ | 4,824 |  | $ | 4,529 |  | $ | 3,572 |  | $ | 3,527 |  | $ | (736) |  | $ | 15,716 |  |  | $ | 4,370 |  | $ | 4,030 |  | $ | 3,765 |  | $ | 3,793 |  | $ | (707) |  | $ | 15,251 |
(1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by sales type for the quarters ended March 31, 2022 and 2021 are as follows:
| 2022 |  | 2021
(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
Products | $ | 3,482 |  | $ | 2,633 |  | $ | 2,604 |  | $ | 3,139 |  | $ | 4 |  | $ | 11,862 |  |  | $ | 3,182 |  | $ | 2,423 |  | $ | 2,676 |  | $ | 3,375 |  | $ | 8 |  | $ | 11,664 |
Services | 983 |  | 1,896 |  | 649 |  | 326 |  | — |  | 3,854 |  |  | 856 |  | 1,607 |  | 769 |  | 355 |  | — |  | 3,587 |
Consolidated net sales | 4,465 |  | 4,529 |  | 3,253 |  | 3,465 |  | 4 |  | 15,716 |  |  | 4,038 |  | 4,030 |  | 3,445 |  | 3,730 |  | 8 |  | 15,251 |
Inter-segment sales | 359 |  | — |  | 319 |  | 62 |  | (740) |  | — |  |  | 332 |  | — |  | 320 |  | 63 |  | (715) |  | — |
Business segment sales | $ | 4,824 |  | $ | 4,529 |  | $ | 3,572 |  | $ | 3,527 |  | $ | (736) |  | $ | 15,716 |  |  | $ | 4,370 |  | $ | 4,030 |  | $ | 3,765 |  | $ | 3,793 |  | $ | (707) |  | $ | 15,251 |
RIS and RMD segment sales disaggregated by contract type for the quarters ended March 31, 2022 and 2021 are as follows:
| 2022 |  | 2021
(dollars in millions) | Raytheon Intelligence & Space | Raytheon Missiles & Defense |  | Raytheon Intelligence & Space | Raytheon Missiles & Defense
Fixed-price | $ | 1,340 |  | $ | 2,075 |  |  | $ | 1,471 |  | $ | 2,251 |
Cost-type | 1,913 |  | 1,390 |  |  | 1,974 |  | 1,479 |
Consolidated net sales | 3,253 |  | 3,465 |  |  | 3,445 |  | 3,730 |
Inter-segment sales | 319 |  | 62 |  |  | 320 |  | 63 |
Business segment sales | $ | 3,572 |  | $ | 3,527 |  |  | $ | 3,765 |  | $ | 3,793 |

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