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Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2021
Business Acquisition [Line Items]  
Schedule of Goodwill Changes in our goodwill balances for the year ended in 2021 were as follows:
(dollars in millions)
Balance as of January 1, 2021(1)
Acquisitions and DivestituresForeign currency
translation and other		Balance as of
December 31, 2021
Collins Aerospace Systems$31,571 $228 $(415)$31,384 
Pratt & Whitney1,563 — — 1,563 
Raytheon Intelligence & Space(1)
9,522 286 5 9,813 
Raytheon Missiles & Defense(1)
11,608 52 (1)11,659 
Total Segment54,264 566 (411)54,419 
Eliminations and other21 — (4)17 
Total$54,285 $566 $(415)$54,436 
(1)    In connection with the previously announced January 1, 2021 reorganization of RIS and RMD, goodwill of $282 million was allocated from RMD to RIS on a relative fair value basis and is reflected in the revised balances at January 1, 2021.
Schedule of Indefinite-Lived Intangible Assets Identifiable intangible assets are comprised of the following:
 20212020
(dollars in millions)Gross
Amount		Accumulated
Amortization		Gross
Amount		Accumulated
Amortization
Amortized:
Patents and trademarks$96 $(37)$48 $(35)
Collaboration assets5,319 (1,173)5,021 (1,024)
Exclusivity assets2,673 (318)2,541 (295)
Developed technology and other1,118 (429)906 (316)
Customer relationships29,982 (7,411)30,241 (5,262)
 39,188 (9,368)38,757 (6,932)
Indefinite-lived:
Trademarks and other8,696 — 8,714 — 
Total$47,884 $(9,368)$47,471 $(6,932)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense The following is the expected amortization of total intangible assets for 2022 through 2026, which reflects the pattern of expected economic benefit on certain aerospace intangible assets:
(dollars in millions)20222023202420252026
Amortization expense$1,997$2,096$2,174$2,061$1,977
Raytheon Company [Member]  
Business Acquisition [Line Items]  
Schedule of consideration transferred
Total consideration is calculated as follows:
(dollars in millions)Amount
Fair value of RTC common stock issued for Raytheon Company outstanding common stock and vested equity awards$33,067 
Fair value attributable to pre-merger service for replacement equity awards99 
Total merger consideration$33,166 
The fair value of RTC common stock issued for Raytheon Company outstanding common stock and vested equity awards is calculated as follows:
(dollars and shares in millions, except per share amounts and exchange ratio)Amount
Number of Raytheon Company common shares outstanding as of April 3, 2020277.3
Number of Raytheon Company stock awards vested as a result of the Raytheon Merger (1)
0.4
Total outstanding shares of Raytheon Company common stock and equity awards entitled to merger consideration277.7
Exchange ratio (2)
2.3348
Shares of RTC common stock issued for Raytheon Company outstanding common stock and vested equity awards648.4
Price per share of RTC common stock (3)
$51.00 
Fair value of RTC common stock issued for Raytheon Company outstanding common stock and vested equity awards$33,067 
(1)    Represents Raytheon Company stock awards that vested as a result of the Raytheon Merger, which is considered a “change in control” for purposes of the Raytheon 2010 Stock Plan. Certain Raytheon Company restricted stock awards and Raytheon Company restricted stock unit (RSU) awards, issued under the Raytheon 2010 Stock Plan vested on an accelerated basis as a result of the Raytheon Merger. Such vested awards were converted into the right to receive RTC common stock determined as the product of (1) the number of vested awards, and (2) the exchange ratio.
(2)    The exchange ratio is equal to 2.3348 shares of UTC common stock for each share of Raytheon Company common stock in accordance with the Raytheon Merger Agreement.
(3)    The price per share of RTC common stock is based on the RTC opening stock price as of April 3, 2020.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The final purchase price allocation, net of cash acquired, for the acquisition was as follows:
(dollars in millions)
Cash and cash equivalents$3,208 
Accounts receivable1,997 
Contract assets6,023 
Inventory705 
Other assets, current940 
Fixed assets4,745 
Operating lease right-of-use assets950 
Intangible assets19,130 
Other assets1,218 
Total identifiable assets acquired38,916 
Accounts payable1,477 
Accrued employee compensation1,492 
Other accrued liabilities1,921 
Contract liabilities3,002 
Long-term debt, including current portion4,700 
Operating lease liabilities, non-current portion738 
Future pension and postretirement benefit obligation11,607 
Other long-term liabilities2,368 
Total liabilities acquired27,305 
Total identifiable net assets11,611 
Goodwill21,589 
Redeemable noncontrolling interest(34)
Total consideration transferred$33,166 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The intangible assets included above consist of the following:
(dollars in millions)Fair ValueUseful Life
Acquired customer relationships$12,900 25 years
Acquired tradenames5,430 Indefinite
Acquired developed technology800 
5 to 7 years
Total identifiable intangible assets $19,130 
Business Acquisition, Pro Forma Information, Nonrecurring Adjustments The results below reflect Raytheon Technologies on a continuing operations basis, in order to more
accurately represent the structure of Raytheon Technologies after completion of the Separation Transactions, the Distributions and the Raytheon Merger.
(dollars in millions, except per share amounts)20202019
Net sales$64,087 $74,238 
Income (loss) from continuing operations attributable to common shareowners(2,167)6,544 
Basic earnings (loss) per share of common stock from continuing operations$(1.43)$4.34 
Diluted earnings (loss) per share of common stock from continuing operations(1.43)4.31 
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, 2019, as adjusted for the applicable tax impact. As the merger was completed on April 3, 2020, the pro-forma adjustments in the table below only include the required adjustments through April 3, 2020.
(dollars in millions)20202019
Amortization of acquired Raytheon Company intangible assets, net (1)
$(270)$(1,048)
Amortization of fixed asset fair value adjustment (2)
(9)(38)
Utilization of contractual customer obligation (3)
8 57 
Deferred revenue fair value adjustment (4)
(4)(33)
Adjustment to non-service pension (income) expense (5)
239 832 
RTC/Raytheon fees for advisory, legal, accounting services (6)
134 (134)
Adjustment to interest expense related to the Raytheon Merger, net (7)
9 36 
Elimination of deferred commission amortization (8)
5 20 
$112 $(308)
(1)    Reflects the additional amortization of the acquired Raytheon Company’s intangible assets recognized at fair value in purchase accounting and eliminates the historical Raytheon Company intangible asset amortization expense.
(2)    Reflects the amortization of the fixed asset fair value adjustment as of the acquisition date.
(3)    Reflects the additional amortization of liabilities recognized for certain acquired loss making contracts as of the acquisition date.
(4)    Reflects the difference between prepayments related to extended arrangements and the fair value of the assumed performance obligations as they are satisfied.
(5)    Represents the elimination of unamortized prior service costs and actuarial losses, as a result of fair value purchase accounting.
(6)    Reflects the elimination of transaction-related fees incurred by RTC and Raytheon Company in connection with the Raytheon Merger and assumes all of the fees were incurred during the first quarter of 2019.
(7)    Reflects the amortization of the fair market value adjustment related to Raytheon Company.
(8)    Reflects the elimination of amortization recognized on deferred commissions that are eliminated in purchase accounting.