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Acquisitions and Dispositions
12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Acquisitions and Dispositions
NOTE 2: ACQUISITIONS AND DISPOSITIONS
Acquisitions. Our investments in businesses, net of cash acquired, in 2022 totaled $66 million and consisted of insignificant acquisitions.
Dispositions. In 2024, 2023, and 2022 cash inflows related to dispositions of businesses were $1,795 million, $6 million, and $94 million, respectively. Our dispositions of businesses in 2024 primarily consisted of the dispositions discussed below. Our dispositions of businesses in 2023 and 2022 were insignificant.
On March 29, 2024, we completed the sale of our Cybersecurity, Intelligence and Services (CIS) business within our Raytheon segment for proceeds of approximately $1.3 billion in cash, resulting in an aggregate pre-tax gain, net of transaction and other related costs, of $0.4 billion ($0.2 billion after tax), primarily recognized in Other income (expense), net within the Consolidated Statement of Operations.
On October 31, 2024, we completed the sale of our Goodrich Hoist & Winch business within our Collins segment for proceeds of approximately $0.5 billion in cash, resulting in a pre-tax gain, net of transaction and other related costs, of $0.1 billion, primarily recognized in Other income (expense), net within the Consolidated Statement of Operations.
On July 20, 2023, we entered into a definitive agreement to sell the actuation and flight control business within our Collins segment to Safran S.A. for gross proceeds of approximately $1.8 billion. During the fourth quarter of 2024, as a result of progress towards regulatory approvals, held for sale criteria was met. As such, at December 31, 2024, the related assets of approximately $1.5 billion and liabilities of approximately $0.6 billion have been accounted for as held for sale at fair value less cost to sell. Held for sale assets primarily include $0.7 billion of goodwill and intangible assets presented in Other assets and $0.3 billion of inventory presented in Other assets, current. Held for sale liabilities primarily include $0.4 billion of contract liabilities and other accrued liabilities presented in Other accrued liabilities. The closing of the transaction is subject to regulatory approvals and other customary closing conditions. This disposition does not qualify for presentation as discontinued operations.