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Segment Financial Data
 6 Months Ended
Jun. 30, 2014
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.
Results for the quarters ended June 30, 2014 and 2013 are as follows:
 
Net Sales
 
Operating Profits
 
Operating Profit Margins
(Dollars in millions)
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Otis
$
3,365

 
$
3,138

 
$
693

 
$
650

 
20.6
 %
 
20.7
%
UTC Climate, Controls & Security
4,429

 
4,543

 
815

 
752

 
18.4
 %
 
16.6
%
Pratt & Whitney
3,592

 
3,624

 
432

 
567

 
12.0
 %
 
15.6
%
UTC Aerospace Systems
3,636

 
3,321

 
602

 
499

 
16.6
 %
 
15.0
%
Sikorsky
2,384

 
1,566

 
(317
)
 
156

 
(13.3
)%
 
10.0
%
Total segments
17,406

 
16,192

 
2,225

 
2,624

 
12.8
 %
 
16.2
%
Eliminations and other
(215
)
 
(186
)
 
249

 
4

 
 
 
 
General corporate expenses
—

 
—

 
(119
)
 
(121
)
 
 
 
 
Consolidated
$
17,191

 
$
16,006

 
$
2,355

 
$
2,507

 
13.7
 %
 
15.7
%

Results for the six months ended June 30, 2014 and 2013 are as follows:
 
Net Sales
 
Operating Profits
 
Operating Profit Margins
(Dollars in millions)
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Otis
$
6,320

 
$
5,952

 
$
1,263

 
$
1,225

 
20.0
 %
 
20.6
%
UTC Climate, Controls & Security
8,280

 
8,380

 
1,352

 
1,272

 
16.3
 %
 
15.2
%
Pratt & Whitney
6,921

 
7,026

 
820

 
973

 
11.8
 %
 
13.8
%
UTC Aerospace Systems
7,086

 
6,584

 
1,192

 
1,000

 
16.8
 %
 
15.2
%
Sikorsky
3,745

 
2,815

 
(231
)
 
246

 
(6.2
)%
 
8.7
%
Total segments
32,352

 
30,757

 
4,396

 
4,716

 
13.6
 %
 
15.3
%
Eliminations and other
(416
)
 
(352
)
 
288

 
25

 
 
 
 
General corporate expenses
—

 
—

 
(231
)
 
(228
)
 
 
 
 
Consolidated
$
31,936

 
$
30,405

 
$
4,453

 
$
4,513

 
13.9
 %
 
14.8
%

See Note 8 to the Condensed Consolidated Financial Statements for a discussion of restructuring costs included in segment operating results.
During the quarter ended June 30, 2014, Sikorsky and the Canadian Government signed amendments to their existing contracts for development, production and support of the CH-148 helicopter. These amendments include significant changes in program scope, governance and delivery methodology. Accordingly, in the quarter ended June 30, 2014, we recognized a change in estimate on this program resulting in the recognition of approximately $830 million of sales and $1,268 million of cost of sales.