Segment Financial Data

6 Months Ended

Jun. 30, 2013

Notes to Condensed Consolidated Financial Statements [Abstract]

Segment Financial Data

Segment Financial Data

Our operations are classified into five principal segments: Otis, UTC Climate, Controls & Security, Pratt & Whitney, UTC Aerospace Systems 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. Subsequent to the completion of our acquisition of Goodrich on July 26, 2012, the Goodrich businesses were combined with the legacy Hamilton Sundstrand businesses to form the new UTC Aerospace Systems segment. Effective July 1, 2012, the Auxiliary Power Unit (APU) business of UTC Aerospace Systems was transferred to the Pratt & Whitney business segment. The APU business designs and manufactures a variety of products for commercial and military aircraft. Annual sales for the APU business are approximately $600 million. The reclassification has been made prospectively; prior year segment results have not been restated for the transfer of the business.

Results for the quarters ended June 30, 2013 and 2012 are as follows:

	Net Sales						Operating Profits						Operating Profit Margins
(Dollars in millions)	2013			2012			2013			2012			2013		2012
Otis	$	3,138		$	3,027		$	650		$	651		20.7	%	21.5	%
UTC Climate, Controls & Security	4,543			4,572			752			789			16.6	%	17.3	%
Pratt & Whitney	3,624			3,447			567			427			15.6	%	12.4	%
UTC Aerospace Systems	3,321			1,254			499			211			15.0	%	16.8	%
Sikorsky	1,566			1,620			156			213			10.0	%	13.1	%
Total segments	16,192			13,920			2,624			2,291			16.2	%	16.5	%
Eliminations and other	(186		)	(113		)	4			(8		)
General corporate expenses	—			—			(121		)	(104		)
Consolidated	$	16,006		$	13,807		$	2,507		$	2,179		15.7	%	15.8	%

Results for the six months ended June 30, 2013 and 2012 are as follows:

	Net Sales						Operating Profits						Operating Profit Margins
(Dollars in millions)	2013			2012			2013			2012			2013		2012
Otis	$	5,952		$	5,797		$	1,225		$	1,217		20.6	%	21.0	%
UTC Climate, Controls & Security	8,380			8,684			1,272			1,333			15.2	%	15.4	%
Pratt & Whitney	7,026			6,499			973			816			13.8	%	12.6	%
UTC Aerospace Systems	6,584			2,490			1,000			409			15.2	%	16.4	%
Sikorsky	2,815			2,966			246			349			8.7	%	11.8	%
Total segments	30,757			26,436			4,716			4,124			15.3	%	15.6	%
Eliminations and other	(352		)	(213		)	25			(32		)
General corporate expenses	—			—			(228		)	(200		)
Consolidated	$	30,405		$	26,223		$	4,513		$	3,892		14.8	%	14.8	%

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