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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Pension and PRB Contributions
We made the following contributions to our pension and PRB plans’ trusts during the years ended December 31:
(dollars in millions)202420232022
U.S. qualified defined benefit plans (1)
$— $69 $— 
International defined benefit plans31 60 69 
PRB plans30 28 25 
(1)     2023 includes $50 million of RTX common stock contributions.
Schedule of Defined Benefit Plans Disclosures
Pension
(dollars in millions)20242023
Change in Benefit Obligation:
Beginning balance$49,592 $49,028 
Service cost attributable to continuing operations189 222 
Interest cost2,385 2,507 
Actuarial (gain) loss(2,013)1,909 
Total benefits paid (1)
(3,633)(4,258)
Net settlement, curtailment, and special termination benefits9 5 
Plan amendments36 19 
Business combinations and divestitures(23)— 
Other (2)
(220)160 
Ending balance$46,322 $49,592 
Change in Plan Assets:
Beginning balance$48,945 $47,960 
Actual return on plan assets1,092 4,730 
Employer contributions (1)
235 363 
Total benefits paid (1)
(3,633)(4,258)
Settlements(3)(2)
Business combinations and divestitures— — 
Other (2)
(222)152 
Ending balance$46,414 $48,945 
(1)    Includes benefit payments paid directly by the company.
(2)    The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the United Kingdom and Canada, and participant contributions.
PensionPRB
(dollars in millions)2024202320242023
Funded Status:
Fair value of plan assets$46,414 $48,945 $314 $316 
Benefit obligations(46,322)(49,592)(898)(962)
Funded status of plan$92 $(647)$(584)$(646)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Non-current assets$1,819 $1,296 $— $— 
Current liability(195)(206)(61)(64)
Non-current liability(1,532)(1,737)(523)(582)
Net amount recognized$92 $(647)$(584)$(646)
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss (gain)$4,926 $4,311 $(296)$(325)
Prior service credit(1,044)(1,246)(1)(3)
Net amount recognized$3,882 $3,065 $(297)$(328)
Schedule of Expected Benefit Payments
The table below reflects the total benefit payments expected to be paid from the pension plans or from corporate assets.
(dollars in millions)Pension
2025$4,178 
20263,737 
20273,670 
20283,613 
20293,594 
2030-203417,158 
Marketable Securities The fair value of marketable securities held in trusts as of December 31 was as follows:
(dollars in millions)20242023
Marketable securities held in trusts$786 $745 
Pension Plan [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets
Information for pension plans with accumulated benefit obligations in excess of plan assets: 
(dollars in millions)20242023
Projected benefit obligation$3,260 $3,675 
Accumulated benefit obligation3,239 3,645 
Fair value of plan assets1,537 1,733 
Defined Benefit Plan, Plan with Projected Benefit Obligation in Excess of Plan Assets
Information for pension plans with projected benefit obligations in excess of plan assets: 
(dollars in millions)20242023
Projected benefit obligation$3,298 $3,723 
Accumulated benefit obligation3,272 3,687 
Fair value of plan assets1,571 1,781 
Schedule of Net Benefit Costs
The components of the net periodic pension income are as follows: 
(dollars in millions)202420232022
Operating expense
Service cost$189 $222 $470 
Non-operating expense
Interest cost2,385 2,507 1,520 
Expected return on plan assets(3,747)(3,753)(3,544)
Amortization of prior service credit(170)(158)(163)
Recognized actuarial net (gain) loss20 (378)305 
Net settlement, curtailment, and special termination benefits loss13 6 2 
Non-service pension income(1,499)(1,776)(1,880)
Total net periodic pension income$(1,310)$(1,554)$(1,410)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in pension plan assets and benefit obligations recognized in other comprehensive loss in 2024 and 2023 are as follows:
(dollars in millions)20242023
Net actuarial loss (gain) arising during the period$642 $935 
Amortization of actuarial gain (loss)(20)378 
Current year prior service cost36 19 
Amortization of prior service credit170 158 
Net settlement and curtailment (12)(3)
Business combinations and divestitures 9 — 
Other (1)
(8)52 
Total recognized in other comprehensive income (loss)817 1,539 
Net recognized in net periodic income and other comprehensive loss$(493)$(15)
(1)    The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the United Kingdom and Canada.
Defined Benefit Plan, Assumptions
Major assumptions used in determining the pension benefit obligation and net periodic pension (income) expense are presented in the following table as weighted-averages: 
Benefit ObligationNet Periodic Benefit (Income) Expense
20242023202420232022
Discount rate
PBO5.6 %5.1 %5.1 %5.5 %2.8 %
Interest cost (1)
N/AN/A5.0 %5.3 %2.3 %
Service cost (1)
N/AN/A5.0 %5.4 %3.1 %
Salary scale4.4 %4.4 %4.4 %4.4 %4.4 %
Expected return on plan assetsN/AN/A7.1 %7.1 %6.5 %
Interest crediting rate5.0 %5.0 %5.0 %4.4 %4.0 %
(1)    The discount rates used to measure the service cost and interest cost applies to our significant plans. The PBO discount rate is used for the service cost and interest cost measurements for non-significant plans.
Schedule of Allocation of Plan Assets
The fair values of pension plan assets at December 31, 2024 and 2023 by asset category are as follows:
(dollars in millions)Quoted Prices in Active Markets For Identical Assets
(Level 1)		Significant Observable Inputs
(Level 2) 		Significant Unobservable Inputs
(Level 3)
Not Subject to Leveling (7)
Total
Asset Category:
Public Equities
Global Equities$6,195 $13 $— $— $6,208 
Global Equity Commingled Funds (1)
— 624 — — 624 
Other Public Equities— — — 2,431 2,431 
Private Equities (2)
— — — 4,985 4,985 
Fixed Income Securities
Governments4,462 801 — — 5,263 
Corporate Bonds1 11,343 — — 11,344 
Structured Products
— 27 — — 27 
Other Fixed Income— — — 11,259 11,259 
Real Estate (3)
— — 1,481 1,557 3,038 
Other (4)
— 513 — 113 626 
Cash & Cash Equivalents (5)
— 341 — 79 420 
Subtotal$10,658 $13,662 $1,481 $20,424 $46,225 
Other Assets & Liabilities (6)
   189 
Total at December 31, 2024
$46,414 
Public Equities
Global Equities$6,156 $4 $— $— $6,160 
Global Equity Commingled Funds (1)
— 1,012 — — 1,012 
Other Public Equities— — — 2,308 2,308 
Private Equities (2)
— — — 4,936 4,936 
Fixed Income Securities
Governments3,507 1,560 — — 5,067 
Corporate Bonds— 13,185 — — 13,185 
Structured Products
— 57 — — 57 
Other Fixed Income— — — 9,669 9,669 
Real Estate (3)
— — 1,467 1,632 3,099 
Other (4)
— 560 — 2,415 2,975 
Cash & Cash Equivalents (5)
— 383 — 128 511 
Subtotal$9,663 $16,761 $1,467 $21,088 $48,979 
Other Assets & Liabilities (6)
   (34)
Total at December 31, 2023
$48,945 
(1)    Represents commingled funds that invest primarily in common stocks.
(2)    Represents limited partnership investments with general partners that primarily invest in equity and debt.
(3)    Represents investments in real estate including commingled funds and directly held properties.
(4)    Represents global balanced risk commingled funds that invest in multiple asset classes including equity, fixed income, and some commodities. “Other” also includes insurance contracts.
(5)    Represents short-term commercial paper, bonds, and other cash or cash-like instruments.
(6)    Represents receivables, payables, and certain individually immaterial international plan assets that are not leveled.
(7)    Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented for the total pension benefits plan assets.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed due to the following:
(dollars in millions)
Balance, December 31, 2022
$1,650 
Realized losses(69)
Unrealized losses relating to instruments still held in the reporting period(134)
Purchases, sales, and settlements, net20 
Balance, December 31, 2023
1,467 
Realized losses (136)
Unrealized gains relating to instruments still held in the reporting period27 
Purchases, sales, and settlements, net123 
Balance, December 31, 2024
$1,481