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Note 15: Segment Financial Data
 6 Months Ended
Jun. 30, 2012
Notes to Condensed Consolidated Financial Statements [Abstract]  
Note 15: Segment Financial Data

Note 15: Segment Financial Data

 

Our operations are classified into five principal segments: Otis, UTC Climate, Controls & Security, Pratt & Whitney, Hamilton Sundstrand and Sikorsky. The segments are generally based on the management structure of the businesses and the grouping of similar operating companies, where each management organization has general operating autonomy over diversified products and services. On September 28, 2011, we announced a new organizational structure that allows us to better serve customers through greater integration across product lines. Effective January 1, 2012, we formed the UTC Climate, Controls & Security segment which combines the former Carrier and UTC Fire & Security segments.

 

 Results for the quarters and six months ended June 30, 2012 and 2011 are as follows:

 

Quarter Ended June 30, Net Sales Operating Profits Operating Profit Margins
(Dollars in millions) 2012 2011 2012 2011 2012 2011
Otis $ 3,027 $ 3,192 $ 651 $ 743 21.5% 23.3%
UTC Climate, Controls & Security   4,572   5,140   789   665 17.3% 12.9%
Pratt & Whitney   3,447   3,276   427   424 12.4% 12.9%
Hamilton Sundstrand   1,254   1,171   211   185 16.8% 15.8%
Sikorsky   1,620   1,786   213   277 13.1% 15.5%
Total segments   13,920   14,565   2,291   2,294 16.5% 15.8%
Eliminations and other   (113)   (96)   (8)   (40)    
General corporate expenses   -   -   (104)   (104)    
Consolidated $ 13,807 $ 14,469 $ 2,179 $ 2,150 15.8% 14.9%
                 
Six Months Ended June 30, Net Sales Operating Profits Operating Profit Margins
(Dollars in millions) 2012 2011 2012 2011 2012 2011
Otis $ 5,797 $ 5,964 $ 1,217 $ 1,373 21.0% 23.0%
UTC Climate, Controls & Security   8,684   9,533   1,333   1,136 15.4% 11.9%
Pratt & Whitney   6,499   6,149   816   852 12.6% 13.9%
Hamilton Sundstrand   2,490   2,309   409   357 16.4% 15.5%
Sikorsky   2,966   3,368   349   418 11.8% 12.4%
Total segments   26,436   27,323   4,124   4,136 15.6% 15.1%
Eliminations and other   (213)   (181)   (32)   (93)    
General corporate expenses   -   -   (200)   (193)    
Consolidated $ 26,223 $ 27,142 $ 3,892 $ 3,850 14.8% 14.2%

See Note 8 to the Condensed Consolidated Financial Statements for a discussion of restructuring costs included in segment operating results.