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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
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)202320222021
U.S. qualified defined benefit plans(1)
$69 $— $— 
International defined benefit plans60 69 42 
PRB plans28 25 17 
(1)     2023 includes $50 million of RTX common stock contributions.
Schedule of Defined Benefit Plans Disclosures
PensionPRB
(dollars in millions)2023202220232022
Change in Benefit Obligation:
Beginning balance$49,028 $67,214 $984 $1,370 
Service cost attributable to continuing operations222 470 3 6 
Interest cost2,507 1,520 50 29 
Actuarial loss (gain)1,909 (15,466)53 (294)
Total benefits paid (1)
(4,258)(4,328)(176)(166)
Net settlement, curtailment, and special termination benefits5 3 (9)(8)
Plan amendments19 131 — — 
Other (2)
160 (516)57 47 
Ending balance$49,592 $49,028 $962 $984 
Change in Plan Assets:
Beginning balance$47,960 $63,323 $302 $389 
Actual return on plan assets4,730 (10,841)37 (63)
Employer contributions (1)
363 306 106 98 
Total benefits paid (1)
(4,258)(4,328)(176)(166)
Settlements(2)(4)(9)(8)
Other (2)
152 (496)56 52 
Ending balance$48,945 $47,960 $316 $302 
Funded Status:
Fair value of plan assets$48,945 $47,960 $316 $302 
Benefit obligations(49,592)(49,028)(962)(984)
Funded status of plan$(647)$(1,068)$(646)$(682)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Noncurrent assets$1,296 $3,301 $— $— 
Current liability(206)(236)(64)(71)
Noncurrent liability(1,737)(4,133)(582)(611)
Net amount recognized$(647)$(1,068)$(646)$(682)
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss (gain)$4,311 $2,950 $(325)$(394)
Prior service credit(1,246)(1,424)(3)(4)
Net amount recognized$3,065 $1,526 $(328)$(398)
(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 (U.K.) and Canada, and participant contributions.
Schedule of Expected Benefit Payments
The table below reflects the total benefit payments expected to be paid from the plans or from corporate assets.
(dollars in millions)PensionPRB
2024$4,206 $103 
20253,778 95 
20263,726 90 
20273,663 85 
20283,607 80 
2029-203317,426 337 
Marketable Securities The fair value of marketable securities held in trusts as of December 31 was as follows:
(dollars in millions)20232022
Marketable securities held in trusts$745 $774 
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)20232022
Projected benefit obligation$3,675 $22,116 
Accumulated benefit obligation3,645 22,080 
Fair value of plan assets1,733 17,747 
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)20232022
Projected benefit obligation$3,723 $22,116 
Accumulated benefit obligation3,687 22,080 
Fair value of plan assets1,781 17,747 
Schedule of Net Benefit Costs
The components of the net periodic pension income are as follows: 
(dollars in millions)202320222021
Operating expense
Service cost$222 $470 $523 
Non-operating expense
Interest cost2,507 1,520 1,249 
Expected return on plan assets(3,753)(3,544)(3,476)
Amortization of prior service credit(158)(163)(168)
Recognized actuarial net (gain) loss(378)305 435 
Net settlement, curtailment, and special termination benefits loss6 2 22 
Non-service pension income(1,776)(1,880)(1,938)
Total net periodic pension income$(1,554)$(1,410)$(1,415)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in pension plan assets and benefit obligations recognized in other comprehensive loss in 2023 and 2022 are as follows:
(dollars in millions)20232022
Net actuarial loss (gain) arising during the period$935 $(1,082)
Amortization of actuarial gain (loss)378 (305)
Current year prior service cost19 131 
Amortization of prior service credit158 163 
Net settlement and curtailment (3)1 
Other (1)
52 (69)
Total recognized in other comprehensive income (loss)1,539 (1,161)
Net recognized in net periodic income and other comprehensive loss$(15)$(2,571)
(1)    The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the U.K. 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
20232022202320222021
Discount rate
PBO5.1 %5.5 %5.5 %2.8 %2.5 %
Interest cost (1)
N/AN/A5.3 %2.3 %1.8 %
Service cost (1)
N/AN/A5.4 %3.1 %2.8 %
Salary scale4.4 %4.4 %4.4 %4.4 %4.4 %
Expected return on plan assetsN/AN/A7.1 %6.5 %6.5 %
Interest crediting rate5.0 %4.5 %4.4 %4.0 %3.8 %
(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, 2023 and 2022 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(8)
Total
Asset Category:
Public Equities
Global Equities$6,156 $4 $— $— $6,160 
Global Equity Commingled Funds (1)
— 1,012 — — 1,012 
Enhanced Global Equities (2)
— — — — — 
Other Public Equities— — — 2,308 2,308 
Private Equities (3)
— — — 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 (4)
— — 1,467 1,632 3,099 
Other (5)
— 560 — 2,415 2,975 
Cash & Cash Equivalents (6)
— 383 — 128 511 
Subtotal$9,663 $16,761 $1,467 $21,088 $48,979 
Other Assets & Liabilities (7)
   (34)
Total at December 31, 2023
$48,945 
Public Equities
Global Equities$6,194 $5 $— $— $6,199 
Global Equity Commingled Funds (1)
20 568 — — 588 
Enhanced Global Equities (2)
(53)75 — — 22 
Other Public Equities— — — 5,771 5,771 
Private Equities (3)
— — — 4,068 4,068 
Fixed Income Securities
Governments2,526 1,426 — — 3,952 
Corporate Bonds1 12,638 — — 12,639 
Structured Products
— 57 — — 57 
Other Fixed Income— — — 6,975 6,975 
Real Estate (4)
— — 1,650 1,761 3,411 
Other (5)
— 84 — 3,071 3,155 
Cash & Cash Equivalents (6)
— 150 — 164 314 
Subtotal$8,688 $15,003 $1,650 $21,810 $47,151 
Other Assets & Liabilities (7)
   809 
Total at December 31, 2022
$47,960 
(1)    Represents commingled funds that invest primarily in common stocks.
(2)    Represents enhanced equity separate account and commingled fund portfolios. A portion of the portfolio may include long-short market neutral and relative value strategies that invest in publicly traded, equity, and fixed income securities, as well as derivatives of equity and fixed income securities and foreign currency.
(3)    Represents limited partnership investments with general partners that primarily invest in equity and debt.
(4)    Represents investments in real estate including commingled funds and directly held properties.
(5)    Represents global balanced risk commingled funds that invest in multiple asset classes including equity, fixed income, and some commodities. “Other” also includes insurance contracts.
(6)    Represents short-term commercial paper, bonds, and other cash or cash-like instruments.
(7)    Represents receivables, payables, and certain individually immaterial international plan assets that are not leveled.
(8)    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, 2021
$1,885 
Realized gains76 
Unrealized gains relating to instruments still held in the reporting period64 
Purchases, sales, and settlements, net(211)
Transfers in/out, net(164)
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 
Transfers in/out, net— 
Balance, December 31, 2023
$1,467 
Other Postretirement Benefits Plan [Member]  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Schedule of Net Benefit Costs
The components of the net periodic PRB (income) expense are as follows:
(dollars in millions)202320222021
Operating expense
Service cost$3 $6 $7 
Non-operating expense
Interest cost50 29 24 
Expected return on plan assets(20)(22)(21)
Amortization of prior service credit(1)(2)(3)
Recognized actuarial net gain(31)(11)(6)
Net settlement, curtailment, and special termination benefits gain(2)(3)— 
Non-service pension income(4)(9)(6)
Total net periodic PRB (income) expense$(1)$(3)$1 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in PRB assets and benefit obligations recognized in other comprehensive loss in 2023 and 2022 are as follows:
(dollars in millions)20232022
Net actuarial loss (gain) arising during the period$36 $(209)
Amortization of actuarial gain31 11 
Amortization of prior service credit1 2 
Net settlement and curtailment 2 3 
Total recognized in other comprehensive income (loss)70 (193)
Net recognized in net periodic expense (income) and other comprehensive loss$69 $(196)
Defined Benefit Plan, Assumptions
Major assumptions used in determining the PRB benefit obligation and net periodic PRB (income) expense are presented in the following table as weighted-averages: 
 Benefit ObligationNet Periodic Benefit (Income) Expense
20232022202320222021
Discount rate5.1 %5.5 %5.5 %2.8 %2.4 %
Expected return on assetsN/AN/A6.8 %5.7 %5.7 %
Assumed health care cost trend rates used in determining the PRB benefit obligation and net periodic PRB (income) expense are as follows:
20232022
Health care cost trend rate assumed for next year4.8 %5.0 %
Ultimate health care cost trend rate4.2 %4.2 %
Year that the rate reaches the ultimate health care cost trend rate20292029