Borrowings and Lines of Credit (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Short-Term Debt [Table Text Block]

(dollars in millions)	September 30, 2021		December 31, 2020
Commercial paper	$	160	$	160
Other borrowings	46		87
Total short-term borrowings	$	206	$	247

Schedule of Long Term Debt Issuances

We had the following issuances of long-term debt during the nine months ended September 30, 2021 and 2020, which is inclusive of issuances made by Carrier and Otis prior to the Distributions, the proceeds of which were primarily used by the Company to extinguish Raytheon Technologies short-term and long-term debt, and therefore, these issuances were treated as a distribution from discontinued operations within financing activities from continuing operations on our Condensed Consolidated Statement of Cash Flows:

Issuance Date	Description of Notes	Aggregate Principal Balance (in millions)
August 10, 2021	1.900% notes due 2031 (1)	$	1,000
	2.820% notes due 2051 (1)	1,000
May 18, 2020	2.250% notes due 2030	1,000
	3.125% notes due 2050	1,000
March 27, 2020	Term Loan due 2023 (Otis) (2)	1,000
	Term Loan due 2023 (Carrier) (2)	1,750
February 27, 2020	1.923% notes due 2023 (2)	500
	LIBOR plus 0.450% floating rate notes due 2023 (2)	500
	2.056% notes due 2025 (2)	1,300
	2.242% notes due 2025 (2)	2,000
	2.293% notes due 2027 (2)	500
	2.493% notes due 2027 (2)	1,250
	2.565% notes due 2030 (2)	1,500
	2.722% notes due 2030 (2)	2,000
	3.112% notes due 2040 (2)	750
	3.377% notes due 2040 (2)	1,500
	3.362% notes due 2050 (2)	750
	3.577% notes due 2050 (2)	2,000

(1)    The net proceeds received from these debt issuances, along with cash on hand, were used to fund the repayment of our 2.800% and 2.500% notes due 2022.

(2)    The debt issuances and term loan draws reflect debt incurred by Carrier and Otis. The net proceeds of these issuances were primarily utilized to extinguish Raytheon Technologies short-term and long-term debt in order to not exceed the maximum applicable net indebtedness required by the Raytheon Merger Agreement.

Schedule of Long Term Debt Repayments

We made the following repayments of long-term debt during the nine months ended September 30, 2021 and 2020:

Repayment Date	Description of Notes	Aggregate Principal Balance (in millions)
August 26, 2021	2.800% notes due 2022	$	1,100
	2.500% notes due 2022	1,100
March 1, 2021	8.750% notes due 2021	250
May 19, 2020	3.650% notes due 2023 (1)(2)	410
May 15, 2020	EURIBOR plus 0.20% floating rate notes due 2020 (€750 million principal value)(2)	817
March 29, 2020	4.500% notes due 2020 (1)(2)	1,250
	1.125% notes due 2021 (€950 million principal value) (1)(2)	1,082
	1.250% notes due 2023 (€750 million principal value) (1)(2)	836
	1.150% notes due 2024 (€750 million principal value) (1)(2)	841
	1.875% notes due 2026 (€500 million principal value) (1)(2)	567
March 3, 2020	1.900% notes due 2020 (1)(2)	1,000
	3.350% notes due 2021 (1)(2)	1,000
	LIBOR plus 0.650% floating rate notes due 2021 (1)(2)	750
	1.950% notes due 2021 (1)(2)	750
	2.300% notes due 2022 (1)(2)	500
	3.100% notes due 2022 (1)(2)	2,300
	2.800% notes due 2024 (1)(2)	800
March 2, 2020	4.875% notes due 2020 (1)(2)	171
February 28, 2020	3.650% notes due 2023 (1)(2)	1,669
	2.650% notes due 2026 (1)(2)	431

(1)    In connection with the early repayment of outstanding principal, Raytheon Technologies recorded debt extinguishment costs of $703 million for the nine months ended September 30, 2020, which are classified as discontinued operations in our Condensed Consolidated Statement of Operations as we would not have had to redeem the debt, except for the Separation Transactions. No proceeds of the notes issued May 18, 2020 were used to fund the May 19, 2020 redemption.

(2)    Extinguishment of Raytheon Technologies short-term and long-term debt in order to not exceed the maximum net indebtedness required by the Raytheon Merger Agreement.

Schedule of Long-term Debt [Table Text Block]

Long-term debt consisted of the following:

(dollars in millions)	September 30, 2021		December 31, 2020
8.750% notes due 2021	$	—	$	250
3.100% notes due 2021 (1)	250		250
2.800% notes due 2022 (1)	—		1,100
2.500% notes due 2022 (1) (2)	—		1,100
3.650% notes due 2023 (1)	171		171
3.700% notes due 2023 (1)	400		400
3.200% notes due 2024 (1)	950		950
3.150% notes due 2024 (1) (2)	300		300
3.950% notes due 2025 (1)	1,500		1,500
2.650% notes due 2026 (1)	719		719
3.125% notes due 2027 (1)	1,100		1,100
3.500% notes due 2027 (1)	1,300		1,300
7.200% notes due 2027 (1) (2)	382		382
7.100% notes due 2027	141		141
6.700% notes due 2028	400		400
7.000% notes due 2028 (1) (2)	185		185
4.125% notes due 2028 (1)	3,000		3,000

7.500% notes due 2029 (1)	550		550
2.150% notes due 2030 (€500 million principal value) (1)	585		612
2.250% notes due 2030 (1)	1,000		1,000
1.900% notes due 2031 (1)	1,000		—
5.400% notes due 2035 (1)	600		600
6.050% notes due 2036 (1)	600		600
6.800% notes due 2036 (1)	134		134
7.000% notes due 2038	159		159
6.125% notes due 2038 (1)	1,000		1,000
4.450% notes due 2038 (1)	750		750
5.700% notes due 2040 (1)	1,000		1,000
4.875% notes due 2040 (1) (2)	600		600
4.700% notes due 2041 (1) (2)	425		425
4.500% notes due 2042 (1)	3,500		3,500
4.800% notes due 2043 (1)	400		400
4.200% notes due 2044 (1) (2)	300		300
4.150% notes due 2045 (1)	850		850
3.750% notes due 2046 (1)	1,100		1,100
4.050% notes due 2047 (1)	600		600
4.350% notes due 2047 (1)	1,000		1,000
4.625% notes due 2048 (1)	1,750		1,750
3.125% notes due 2050 (1)	1,000		1,000
2.820% notes due 2051 (1)	1,000		—
Other (including finance leases)	272		292
Total principal long-term debt	30,973		31,470
Other (fair market value adjustments, (discounts)/premiums, and debt issuance costs)	69		106
Total long-term debt	31,042		31,576
Less: current portion	274		550
Long-term debt, net of current portion	$	30,768	$	31,026

(1)    We may redeem these notes at our option pursuant to their terms.

(2)    Debt assumed in the Raytheon Merger.

Schedule of Weighted average interest rates [Table Text Block]

The average interest expense rate on our total borrowings for the quarters and nine months ended September 30, 2021 and 2020 was as follows:

	Quarter Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Average interest expense rate	4.2	%	4.2	%	4.1	%	4.0	%