Segment Financial Data (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Results for the quarters ended March 31, 2024 and 2023 are as follows:

	Net Sales				Operating Profit				Operating Profit Margins
(dollars in millions)	2024		2023		2024		2023		2024		2023
Collins Aerospace	$	6,673	$	6,120	$	849	$	897	12.7	%	14.7	%
Pratt & Whitney	6,456		5,230		412		415		6.4	%	7.9	%
Raytheon (2)	6,659		6,292		996		571		15.0	%	9.1	%
Total segment	19,788		17,642		2,257		1,883		11.4	%	10.7	%
Eliminations and other (1)	(483)		(428)		(5)		51
Corporate expenses and other unallocated items	—		—		(96)		(43)
FAS/CAS operating adjustment	—		—		214		289
Acquisition accounting adjustments	—		—		(500)		(493)
Consolidated	$	19,305	$	17,214	$	1,870	$	1,687	9.7	%	9.8	%

(1)    Includes the operating results of certain smaller operations.

(2)    Operating Profit includes a $0.4 billion gain, net of transaction and other related costs, related to the sale of our CIS business. See “Note 2: Acquisitions and Dispositions” for additional information.

Disaggregation of Revenue

Segment sales disaggregated by geographic region based on customer location for the quarters ended March 31, 2024 and 2023 are as follows:

	2024										2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total		Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
United States	$	3,321	$	3,010	$	4,982	$	48	$	11,361	$	3,097	$	2,631	$	4,776	$	44	$	10,548
Europe	1,615		1,670		547		1		3,833		1,479		1,120		390		1		2,990
Asia Pacific	691		1,194		541		1		2,427		591		905		554		—		2,050
Middle East and North Africa	181		138		530		—		849		163		110		490		—		763
Other regions	361		444		30		—		835		349		463		51		—		863
Consolidated net sales	6,169		6,456		6,630		50		19,305		5,679		5,229		6,261		45		17,214
Inter-segment sales	504		—		29		(533)		—		441		1		31		(473)		—
Business segment sales	$	6,673	$	6,456	$	6,659	$	(483)	$	19,305	$	6,120	$	5,230	$	6,292	$	(428)	$	17,214

Segment sales disaggregated by type of customer for the quarters ended March 31, 2024 and 2023 are as follows:

	2024										2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total		Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Sales to the U.S. government (1)	$	1,564	$	1,558	$	4,957	$	48	$	8,127	$	1,594	$	1,222	$	4,698	$	43	$	7,557
Foreign military sales through the U.S. government	81		310		858		—		1,249		83		332		847		—		1,262
Foreign government direct commercial sales	309		158		740		1		1,208		260		118		625		1		1,004
Commercial aerospace and other commercial sales	4,215		4,430		75		1		8,721		3,742		3,557		91		1		7,391
Consolidated net sales	6,169		6,456		6,630		50		19,305		5,679		5,229		6,261		45		17,214
Inter-segment sales	504		—		29		(533)		—		441		1		31		(473)		—
Business segment sales	$	6,673	$	6,456	$	6,659	$	(483)	$	19,305	$	6,120	$	5,230	$	6,292	$	(428)	$	17,214

(1)    Excludes foreign military sales through the U.S. government.

Segment sales disaggregated by sales type for the quarters ended March 31, 2024 and 2023 are as follows:

	2024										2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total		Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Products	$	4,833	$	3,957	$	5,467	$	46	$	14,303	$	4,450	$	3,052	$	5,242	$	43	$	12,787
Services	1,336		2,499		1,163		4		5,002		1,229		2,177		1,019		2		4,427
Consolidated net sales	6,169		6,456		6,630		50		19,305		5,679		5,229		6,261		45		17,214
Inter-segment sales	504		—		29		(533)		—		441		1		31		(473)		—
Business segment sales	$	6,673	$	6,456	$	6,659	$	(483)	$	19,305	$	6,120	$	5,230	$	6,292	$	(428)	$	17,214

Raytheon segment sales disaggregated by contract type for the quarters ended March 31, 2024 and 2023 are as follows:

(dollars in millions)	2024		2023
Fixed-price	$	3,293	$	3,237
Cost-type	3,337		3,024
Consolidated net sales	6,630		6,261
Inter-segment sales	29		31
Business segment sales	$	6,659	$	6,292