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Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Schedule of consideration transferred
(dollars in millions)Amount
Cash consideration paid for Rockwell Collins outstanding common stock & equity awards$15,533 
Fair value of UTC common stock issued for Rockwell Collins outstanding common stock & equity awards
7,960 
Total consideration transferred$23,493 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The table below represents the final determination of the fair value of identifiable assets acquired and liabilities assumed from the Rockwell Collins acquisition after utilizing the one year measurement period allowed by the FASB ASC Topic 805, “Business Combinations.”
(dollars in millions)
Cash and cash equivalents$640 
Accounts receivable1,659 
Inventory1,487 
Contract assets, current320 
Other assets, current251 
Future income tax benefits38 
Fixed assets1,542 
Intangible assets:
Customer relationships8,720 
Tradenames/trademarks1,870 
        Developed technology600 
Other assets217 
Total identifiable assets acquired17,344 
Short-term borrowings2,254 
Accounts payable520 
Accrued liabilities1,663 
Contract liabilities, current299 
Long-term debt5,530 
Future pension and postretirement benefit obligation502 
Other long-term liabilities3,614 
Noncontrolling interest6 
Total liabilities acquired14,388 
Total identifiable net assets2,956 
Goodwill20,537 
Total consideration transferred$23,493 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination The tradename intangible assets have been determined to have an indefinite life. The intangible assets included above consist of the following:
(dollars in millions)
Fair Value		Estimated
Life
Acquired customer relationships$8,720 10-23 years
Acquired tradenames/trademarks1,870 indefinite
Acquired developed technology600 15 years
$11,190 
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments The pro-forma results were calculated by combining the results of RTC with the stand-alone results of Rockwell Collins for the pre-acquisition periods, which were adjusted to account for certain costs that would have been incurred during this pre-acquisition period:
 Year Ended December 31,
(dollars in millions, except per share amounts; shares in millions)20182017
Net sales$42,336 $37,909 
Net income attributable to common shareowners from continuing operations$2,011 $1,423 
Basic earnings per share of common stock from continuing operations$2.26 $1.66 
Diluted earnings per share of common stock from continuing operations$2.24 $1.65 
The unaudited supplemental pro-forma data above includes the following significant adjustments made to account for certain costs which would have been incurred if the acquisition had been completed on January 1, 2017, as adjusted for the
applicable tax impact. As our acquisition of Rockwell Collins was completed on November 26, 2018, the pro-forma adjustments in the table below only include the required adjustments through November 26, 2018:
 Year Ended December 31,
(dollars in millions)20182017
Amortization of inventory and fixed asset fair value adjustment (1)
58 $(192)
Amortization of acquired Rockwell Collins intangible assets, net (2)
(193)(202)
Utilization of contractual customer obligation (3)
16 116 
RTC/Rockwell fees for advisory, legal, accounting services (4)
212 (212)
Interest expense incurred on acquisition financing, net (5)
(199)(234)
Elimination of capitalized pre-production engineering amortization (6)
63 42 
Adjustment to net periodic pension cost (7)
42 34 
Adjustment to reflect the adoption of ASC 606 (8)
106 — 
Elimination of entities held for sale (9)
(47)(35)
Inclusion of B/E Aerospace (10)
— (51)
$58 $(734)
(1)    2018 reflects the elimination of the inventory step-up amortization recorded by RTC in 2018 as this would have been completed within the first two quarters of 2017. Additionally, this adjustment reflects the amortization of the fixed asset fair value adjustment as of the acquisition date.
(2)    Reflects the additional amortization of the acquired Rockwell Collins’ intangible assets recognized at fair value in purchase accounting and eliminates the historical Rockwell Collins intangible asset amortization expense.
(3)    Reflects the additional amortization of liabilities recognized for acquired contracts with terms less favorable than could be realized in market transactions as of the acquisition date and eliminates Rockwell Collins historical amortization of these liabilities.
(4)    2018 reflects the elimination of transaction-related fees incurred by RTC and Rockwell Collins in connection with the acquisition and assumes all of the fees were incurred during the first quarter of 2017.
(5)    Reflects the additional interest expense incurred on debt to finance our acquisition of Rockwell Collins and reduces interest expense for the debt fair value adjustment which would have been amortized.
(6)    Reflects the elimination of Rockwell Collins capitalized pre-production engineering amortization to conform to RTC policy.
(7)    Reflects adjustments for the elimination of amortization of prior service cost and actuarial loss amortization, which was recorded by Rockwell Collins, as a result of fair value purchase accounting, net of the impact of the revised pension and post-retirement benefit (expense) as determined under RTC’s plan assumptions.
(8)    Reflects adjustments to Rockwell Collins revenue recognition as if they adopted the New Revenue Standard as of January 1, 2018 and primarily relates to capitalization of contract costs and changes in timing of sales recognition for contracts requiring an over time method of revenue recognition, partially offset by deferral of revenue recognized on OEM product engineering and development.
(9)    Reflects the elimination of entities required to be sold for regulatory approvals.
(10)    Reflects adjustments to include the results and related adjustments for B/E Aerospace as if it had been acquired by Rockwell Collins on January 1, 2017.
Schedule of Goodwill Changes in our goodwill balances for the year ended in 2019 were as follows:
(dollars in millions)Balance as of
January 1,
2019		Goodwill
resulting from
business
combinations		Foreign
currency
translation
and other		Balance as of
December 31,
2019
Pratt & Whitney$1,567 $— $(4)$1,563 
Collins Aerospace Systems35,002 75 (52)35,025 
Total Segments36,569 75 (56)36,588 
Eliminations and other21 — — 21 
Total$36,590 $75 $(56)$36,609 
Schedule of Indefinite-Lived Intangible Assets Identifiable intangible assets are comprised of the following:
 20192018
(dollars in millions)Gross
Amount		Accumulated
Amortization		Gross
Amount		Accumulated
Amortization
Amortized:
Patents and trademarks$47 $(34)$47 $(32)
Collaboration intangible assets4,862 (920)4,509 (649)
Customer relationships and other21,026 (3,884)20,308 (2,913)
 25,935 (4,838)24,864 (3,594)
Unamortized:
Trademarks and other3,376 — 3,372 — 
Total$29,311 $(4,838)$28,236 $(3,594)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense The following is the expected amortization of total intangible assets for 2020 through 2024, which reflects the pattern of expected economic benefit on certain aerospace intangible assets:
(dollars in millions)20202021202220232024
Amortization expense$1,248$1,249$1,283$1,290$1,277