Segment Financial Data (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Segment Reporting Information, by Segment

Results for the quarters ended March 31, 2023 and 2022 are as follows:


	Net Sales				Operating Profit				Operating Profit Margins
(dollars in millions)	2023		2022		2023		2022		2023		2022
Collins Aerospace	$	5,581	$	4,824	$	794	$	440	14.2	%	9.1	%
Pratt & Whitney	5,230		4,529		415		151		7.9	%	3.3	%
Raytheon Intelligence & Space	3,565		3,572		324		378		9.1	%	10.6	%
Raytheon Missiles & Defense	3,671		3,527		328		387		8.9	%	11.0	%
Total segment	18,047		16,452		1,861		1,356		10.3	%	8.2	%
Eliminations and other(1)	(833)		(736)		13		(34)
Corporate expenses and other unallocated items(2)	—		—		(43)		(136)
FAS/CAS operating adjustment	—		—		314		378
Acquisition accounting adjustments	—		—		(493)		(484)
Consolidated	$	17,214	$	15,716	$	1,652	$	1,080	9.6	%	6.9	%

(1) Includes the operating results of certain smaller non-reportable business segments.

(2) 2022 included the net expenses related to the U.S. Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) project. Beginning in 2023, LTAMDS results are included in the RMD segment.

Disaggregation of Revenue

Segment sales disaggregated by geographic region for the quarters ended March 31, 2023 and 2022 are as follows:


	2023												2022
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon Intelligence & Space		Raytheon Missiles & Defense		Other		Total		Collins Aerospace		Pratt & Whitney		Raytheon Intelligence & Space		Raytheon Missiles & Defense		Other		Total
United States	$	2,648	$	2,631	$	2,806	$	2,459	$	4	$	10,548	$	2,249	$	2,312	$	2,866	$	2,299	$	4	$	9,730
Europe	1,458		1,120		108		304		—		2,990		1,314		879		107		272		—		2,572
Asia Pacific	556		905		213		376		—		2,050		497		873		163		324		—		1,857
Middle East and North Africa	156		110		36		461		—		763		112		78		81		558		—		829
Other	345		463		31		24		—		863		293		387		36		12		—		728
Consolidated net sales	5,163		5,229		3,194		3,624		4		17,214		4,465		4,529		3,253		3,465		4		15,716
Inter-segment sales	418		1		371		47		(837)		—		359		—		319		62		(740)		—
Business segment sales	$	5,581	$	5,230	$	3,565	$	3,671	$	(833)	$	17,214	$	4,824	$	4,529	$	3,572	$	3,527	$	(736)	$	15,716

Segment sales disaggregated by type of customer for the quarters ended March 31, 2023 and 2022 are as follows:


	2023												2022
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon Intelligence & Space		Raytheon Missiles & Defense		Other		Total		Collins Aerospace		Pratt & Whitney		Raytheon Intelligence & Space		Raytheon Missiles & Defense		Other		Total
Sales to the U.S. government (1)	$	1,132	$	1,222	$	2,742	$	2,457	$	4	$	7,557	$	1,051	$	1,174	$	2,812	$	2,297	$	4	$	7,338
Foreign military sales through the U.S. government	53		332		161		716		—		1,262		54		197		160		765		—		1,176
Foreign government direct commercial sales	240		118		201		445		—		1,004		251		103		204		401		—		959
Commercial aerospace and other commercial sales	3,738		3,557		90		6		—		7,391		3,109		3,055		77		2		—		6,243
Consolidated net sales	5,163		5,229		3,194		3,624		4		17,214		4,465		4,529		3,253		3,465		4		15,716
Inter-segment sales	418		1		371		47		(837)		—		359		—		319		62		(740)		—
Business segment sales	$	5,581	$	5,230	$	3,565	$	3,671	$	(833)	$	17,214	$	4,824	$	4,529	$	3,572	$	3,527	$	(736)	$	15,716

(1) Excludes foreign military sales through the U.S. government.

Segment sales disaggregated by sales type for the quarters ended March 31, 2023 and 2022 are as follows:


	2023												2022
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon Intelligence & Space		Raytheon Missiles & Defense		Other		Total		Collins Aerospace		Pratt & Whitney		Raytheon Intelligence & Space		Raytheon Missiles & Defense		Other		Total
Products	$	4,000	$	3,052	$	2,510	$	3,221	$	4	$	12,787	$	3,482	$	2,633	$	2,604	$	3,139	$	4	$	11,862
Services	1,163		2,177		684		403		—		4,427		983		1,896		649		326		—		3,854
Consolidated net sales	5,163		5,229		3,194		3,624		4		17,214		4,465		4,529		3,253		3,465		4		15,716
Inter-segment sales	418		1		371		47		(837)		—		359		—		319		62		(740)		—
Business segment sales	$	5,581	$	5,230	$	3,565	$	3,671	$	(833)	$	17,214	$	4,824	$	4,529	$	3,572	$	3,527	$	(736)	$	15,716

RIS and RMD segment sales disaggregated by contract type for the quarters ended March 31, 2023 and 2022 are as follows:


	2023				2022
(dollars in millions)	Raytheon Intelligence & Space		Raytheon Missiles & Defense		Raytheon Intelligence & Space		Raytheon Missiles & Defense
Fixed-price	$	1,387	$	2,095	$	1,340	$	2,075
Cost-type	1,807		1,529		1,913		1,390
Consolidated net sales	3,194		3,624		3,253		3,465
Inter-segment sales	371		47		319		62
Business segment sales	$	3,565	$	3,671	$	3,572	$	3,527