Segment Financial Data (Tables)

3 Months Ended

Mar. 31, 2022

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.

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