Discontinued Operations

9 Months Ended

Sep. 30, 2014

Notes to Condensed Consolidated Financial Statements [Abstract]

Discontinued Operations

Discontinued Operations

In 2012, the UTC Board of Directors approved plans for the divestiture of a number of non-core businesses, which were completed with the sale of substantially all operations of Pratt & Whitney Rocketdyne (Rocketdyne) on June 14, 2013. Cash generated from these divestitures was used to repay debt incurred to finance the acquisition of Goodrich Corporation (Goodrich) in 2012. On February 12, 2013, we completed the disposition of UTC Power to ClearEdge Power. We have no continuing involvement with the UTC Power business post-disposition.

The following summarized financial information for our discontinued operations businesses was segregated from continuing operations and reported as Discontinued Operations in 2013. There was no discontinued operations activity in the nine months ended September 30, 2014.

(Dollars in millions)	Quarter Ended September 30, 2013		Nine Months Ended September 30, 2013
Discontinued Operations:
Net sales	$	—	$	309
Income from operations	$	—	$	63
Income tax expense	—		(32		)
Income from operations, net of income taxes	—		31
Gain (loss) on disposal	10		(30		)
Income tax benefit	7		20
Income from discontinued operations	$	17	$	21