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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Net sales      
Net sales $ 29,176 $ 27,058 $ 25,348
Operating expenses      
General and administrative expenses 2,989 2,947 2,777
Total operating expenses 24,402 22,520 21,117
Operating income 4,774 4,538 4,231
Non-operating (income) expense, net      
Retirement benefits non-service expense 688 1,230 913
Interest expense 180 184 205
Interest income (42) (31) (21)
Other (income) expense, net (38) 8 21
Total non-operating (income) expense, net 788 1,391 1,118
Income from continuing operations before taxes 3,986 3,147 3,113
Federal and foreign income taxes 658 264 1,114
Income from continuing operations 3,328 2,883 1,999
Income (loss) from discontinued operations, net of tax 1 (1) 2
Net income 3,329 2,882 2,001
Less: Net income (loss) attributable to noncontrolling interests in subsidiaries (14) (27) (23)
Net income attributable to Raytheon Company $ 3,343 $ 2,909 $ 2,024
Basic earnings per share attributable to Raytheon Company common stockholders:      
Income from continuing operations $ 11.93 $ 10.16 $ 6.95
Income (loss) from discontinued operations, net of tax 0 0 0.01
Net income 11.94 10.16 6.96
Diluted earnings per share attributable to Raytheon Company common stockholders:      
Income from continuing operations 11.92 10.15 6.94
Income (loss) from discontinued operations, net of tax 0 0 0.01
Net income $ 11.93 $ 10.15 $ 6.95
Amounts attributable to Raytheon Company common stockholders:      
Income from continuing operations $ 3,342 $ 2,910 $ 2,022
Income (loss) from discontinued operations, net of tax 1 (1) 2
Net income 3,343 2,909 2,024
Products [Member]      
Net sales      
Net sales 24,435 22,633 21,416
Operating expenses      
Cost of Sales 17,747 16,108 15,252
Services [Member]      
Net sales      
Net sales 4,741 4,425 3,932
Operating expenses      
Cost of Sales $ 3,666 $ 3,465 $ 3,088