Restructuring Costs (Tables)

6 Months Ended

Jun. 30, 2021

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring and Related Costs [Table Text Block]

We recorded and reversed charges in the segments as follows:

(dollars in millions)	Quarter Ended June 30, 2021		Six Months Ended June 30, 2021
Pratt & Whitney	$	(16)	$	4
Collins Aerospace Systems	12		30
Corporate expenses and other unallocated items	60		65
Total	$	56	$	99

Restructuring charges incurred during the quarter and six months ended June 30, 2021 primarily relate to actions initiated during 2021 and 2020, and were recorded as follows:

(dollars in millions)	Quarter Ended June 30, 2021		Six Months Ended June 30, 2021
Cost of sales	$	1	$	21
Selling, general and administrative	55		78
Total	$	56	$	99

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 2021 restructuring actions by segment:

(dollars in millions)	Expected Costs		Costs Incurred Quarter Ended March 31, 2021		Costs Incurred Quarter Ended June 30, 2021		Remaining Costs at June 30, 2021
Pratt & Whitney	$	25	$	(20)	$	(2)	$	3
Collins Aerospace Systems	62		(16)		(3)		43
Corporate expenses and other unallocated items	60		—		(60)		—
Total	$	147	$	(36)	$	(65)	$	46

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

The following table summarizes the accrual balance and utilization for the 2021 restructuring actions for the quarter and six months ended June 30, 2021:

(dollars in millions)	Severance		Facility Exit and Other Costs		Total
Quarter Ended June 30, 2021
Restructuring accruals at March 31, 2021	$	23	$	9	$	32
Net pre-tax restructuring costs	63		2		65
Utilization, foreign exchange and other costs	(25)		(2)		(27)
Balance at June 30, 2021	$	61	$	9	$	70
Six Months Ended June 30, 2021
Restructuring accruals at December 31, 2020	$	—	$	—	$	—
Net pre-tax restructuring costs	87		14		101
Utilization, foreign exchange and other costs	(26)		(5)		(31)
Balance at June 30, 2021	$	61	$	9	$	70

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 2020 restructuring actions by segment:

(dollars in millions)	Expected Costs		Costs Incurred in 2020		Costs (Incurred) Reversed Quarter Ended March 31, 2021		Costs (Incurred) Reversed Quarter Ended June 30, 2021		Remaining Costs at June 30, 2021
Pratt & Whitney	$	188	$	(205)	$	—	$	17	$	—
Collins Aerospace Systems	334		(333)		1		7		9
Corporate expenses and other unallocated items	237		(232)		(5)		—		—
Total	$	759	$	(770)	$	(4)	$	24	$	9

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

The following table summarizes the accrual balances and utilization for the 2020 restructuring actions for the quarter and six months ended June 30, 2021:

(dollars in millions)	Severance		Facility Exit, and Other Costs		Total
Quarter Ended June 30, 2021
Restructuring accruals at March 31, 2021	$	205	$	4	$	209
Net pre-tax restructuring costs	(27)		3		(24)
Utilization, foreign exchange and other costs	(105)		46		(59)
Balance at June 30, 2021	$	73	$	53	$	126
Six Months Ended June 30, 2021
Restructuring accruals at December 31, 2020	$	334	$	6	$	340
Net pre-tax restructuring costs	(26)		6		(20)
Utilization, foreign exchange and other costs	(235)		41		(194)
Balance at June 30, 2021	$	73	$	53	$	126