Restructuring and Other Costs (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring and Related Costs [Table Text Block]

We recorded charges in the segments as follows:

(dollars in millions)	Quarter Ended September 30, 2020		Nine Months Ended September 30, 2020
Pratt & Whitney	$	68	$	175
Collins Aerospace Systems	138		295
Corporate expenses and other unallocated items	44		215
Total	$	250	$	685

Restructuring charges incurred during the quarter and nine months ended September 30, 2020 primarily relate to actions initiated during 2020 and 2019, and were recorded as follows:

(dollars in millions)	Quarter Ended September 30, 2020		Nine Months Ended September 30, 2020
Cost of sales	$	142	$	330
Selling, general and administrative	103		350
Restructuring costs recorded within operating expenses	245		680
Non-service pension (income) expense	5		5
Total	$	250	$	685

Current Year Actions [Member]

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring and Related Costs [Table Text Block]

The following table summarizes expected, incurred and remaining costs for the 2020 restructuring actions by segment:

(dollars in millions)	Expected Costs		Costs Incurred Quarter Ended March 31, 2020		Costs Incurred Quarter Ended June 30, 2020		Costs Incurred Quarter Ended September 30, 2020		Remaining Costs at September 30, 2020
Pratt & Whitney	$	198	$	—	$	(130)	$	(68)	$	—
Collins Aerospace Systems	309		(1)		(146)		(128)		34
Corporate expenses and other unallocated items	213		(1)		(168)		(44)		—
Total	$	720	$	(2)	$	(444)	$	(240)	$	34

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following table summarizes the accrual balance and utilization for the 2020 restructuring actions for the quarter and nine months ended September 30, 2020:

(dollars in millions)	Severance		Facility Exit and Other Costs		Total
Quarter Ended September 30, 2020
Restructuring accruals at June 30, 2020	$	395	$	—	$	395
Net pre-tax restructuring costs	232		8		240
Utilization, foreign exchange and other costs	(166)		(8)		(174)
Balance at September 30, 2020	$	461	$	—	$	461
Nine Months Ended September 30, 2020
Restructuring accruals at December 31, 2019	$	—	$	—	$	—
Net pre-tax restructuring costs	677		9		686
Utilization, foreign exchange and other costs	(216)		(9)		(225)
Balance at September 30, 2020	$	461	$	—	$	461

Prior Year Actions [Member]

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring and Related Costs [Table Text Block]

The following table summarizes expected, incurred and remaining costs for the 2019 restructuring actions by segment:

(dollars in millions)	Expected Costs		Costs Incurred in 2019		Costs Incurred Quarter Ended March 31, 2020		Costs Incurred Quarter Ended June 30, 2020		Costs Incurred Quarter Ended September 30, 2020		Remaining Costs at September 30, 2020
Pratt & Whitney	$	121	$	(133)	$	—	$	12	$	—	$	—
Collins Aerospace Systems	106		(27)		(5)		(3)		(9)		62
Corporate expenses and other unallocated items	2		(2)		—		—		—		—
Total	$	229	$	(162)	$	(5)	$	9	$	(9)	$	62

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following table summarizes the accrual balances and utilization for the 2019 restructuring actions for the quarter and nine months ended September 30, 2020:

(dollars in millions)	Severance		Facility Exit, and Other Costs		Total
Quarter Ended September 30, 2020
Restructuring accruals at June 30, 2020	$	17	$	10	$	27
Net pre-tax restructuring costs	9		—		9
Utilization, foreign exchange and other costs	(10)		—		(10)
Balance at September 30, 2020	$	16	$	10	$	26
Nine Months Ended September 30, 2020
Restructuring accruals at December 31, 2019	$	47	$	11	$	58
Net pre-tax restructuring costs	3		2		5
Utilization, foreign exchange and other costs	(34)		(3)		(37)
Balance at September 30, 2020	$	16	$	10	$	26