Quarterly Operating Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Selected Quarterly Financial Information [Abstract]

Schedule of Quarterly Financial Information



2019 (in millions, except per share amounts and workdays)	First		Second		Third		Fourth
Total net sales	$	6,729	$	7,159	$	7,446	$	7,842
Gross margin	1,852		1,954		1,947		2,010
Income from continuing operations	775		813		861		879
Net income attributable to Raytheon Company	781		817		860		885
EPS from continuing operations attributable to Raytheon Company common stockholders⁽¹⁾
Basic	$	2.77	$	2.92	$	3.08	$	3.17
Diluted	2.77		2.92		3.08		3.16
EPS attributable to Raytheon Company common stockholders⁽¹⁾
Basic	2.77		2.92		3.08		3.16
Diluted	2.77		2.92		3.08		3.16
Workdays⁽²⁾	63		64		63		59



2018 (in millions, except per share amounts and workdays)	First		Second		Third⁽³⁾		Fourth
Total net sales	$	6,267	$	6,625	$	6,806	$	7,360
Gross margin	1,735		1,848		1,935		1,967
Income from continuing operations	624		790		641		828
Net income attributable to Raytheon Company	633		800		644		832
EPS from continuing operations attributable to Raytheon Company common stockholders⁽¹⁾
Basic	$	2.20	$	2.78	$	2.25	$	2.93
Diluted	2.20		2.78		2.25		2.93
EPS attributable to Raytheon Company common stockholders⁽¹⁾
Basic	2.20		2.78		2.25		2.93
Diluted	2.19		2.78		2.25		2.93
Workdays⁽²⁾	64		64		63		58


(1)	EPS is computed independently for each of the quarters presented; therefore, the sum of the quarterly EPS may not equal the total computed for each year.


(2)	Number of workdays per our fiscal calendar, which excludes holidays and weekends.

(3)

In the third quarter of 2018, we recognized a non-cash pension settlement charge of $288 million for certain Raytheon-sponsored pension plans that purchased a group annuity contract from an insurance company to transfer some of our outstanding pension benefit obligations.