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Note 8: Restructuring and Other Costs (Tables)

9 Months Ended

Sep. 30, 2012

Notes to Condensed Consolidated Financial Statements [Abstract]

Schedule of Restructuring and Related Costs [Text Block]

(Dollars in millions)
Otis	$	105
UTC Climate, Controls & Security		98
Pratt & Whitney		57
UTC Aerospace Systems		40
Sikorsky		18
Eliminations and other		14
Restructuring costs recorded within continuing operations		332
Restructuring costs recorded within discontinued operations		28
Total	$	360

(Dollars in millions)	Severance		Asset Write-Downs		Facility Exit, Lease Termination and Other Costs		Total
Expected costs	$	321	$	14	$	150	$	485
Costs incurred - quarter ended March 31, 2012		(96)		(12)		(8)		(116)
Costs incurred - quarter ended June 30, 2012		(59)		(1)		(11)		(71)
Costs incurred - quarter ended September 30, 2012		(109)		(1)		(13)		(123)
Balance at September 30, 2012	$	57	$	-	$	118	$	175

			Costs Incurred		Costs Incurred		Costs Incurred		Remaining
			Quarter Ended		Quarter Ended		Quarter Ended		Costs at
(Dollars in millions)	Expected Costs		March 31, 2012		June 30, 2012		September 30, 2012		September 30, 2012
Otis	$	113	$	(23)	$	(31)	$	(38)	$	21
UTC Climate, Controls & Security		122		(25)		(24)		(24)		49
Pratt & Whitney		74		(34)		(16)		(2)		22
UTC Aerospace Systems		84		(1)		(2)		(38)		43
Sikorsky		51		-		-		(11)		40
Eliminations and other		14		(6)		2		(10)		-
Discontinued operations		27		(27)		-		-		-
Total	$	485	$	(116)	$	(71)	$	(123)	$	175

(Dollars in millions)	Severance		Asset Write-Downs		Facility Exit, Lease Termination and Other Costs		Total
Expected costs	$	304	$	4	$	68	$	376
Costs incurred through December 31, 2011		(259)		(4)		(23)		(286)
Costs incurred - quarter ended March 31, 2012		(10)		-		(10)		(20)
Costs incurred - quarter ended June 30, 2012		(18)		-		(3)		(21)
Costs incurred - quarter ended September 30, 2012		(4)		-		(4)		(8)
Remaining costs at September 30, 2012	$	13	$	-	$	28	$	41

			Costs Incurred		Costs Incurred		Costs Incurred		Costs Incurred		Remaining
			through		Quarter Ended		Quarter Ended		Quarter Ended		Costs at
(Dollars in millions)	Expected Costs		December 31, 2011		March 31, 2012		June 30, 2012		September 30, 2012		September 30, 2012
Otis	$	101	$	(76)	$	(6)	$	(4)	$	(4)	$	11
UTC Climate, Controls & Security		121		(93)		(9)		(13)		(2)		4
Pratt & Whitney		47		(37)		(2)		(1)		(1)		6
UTC Aerospace Systems		8		(8)		-		-		-		-
Sikorsky		75		(51)		(3)		(2)		(1)		18
Discontinued operations		24		(21)		-		(1)		-		2
Total	$	376	$	(286)	$	(20)	$	(21)	$	(8)	$	41

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

(Dollars in millions)	Severance		Asset Write-Downs		Facility Exit, Lease Termination and Other Costs		Total
Restructuring accruals at June 30, 2012	$	93	$	-	$	10	$	103
Restructuring accruals assumed from Goodrich		19		-		-		19
Net pre-tax restructuring costs		109		1		13		123
Utilization and foreign exchange		(58)		(1)		(7)		(66)
Balance at September 30, 2012	$	163	$	-	$	16	$	179

(Dollars in millions)	Severance		Asset Write-Downs		Facility Exit, Lease Termination and Other Costs		Total
Restructuring accruals at June 30, 2012	$	70	$	-	$	12	$	82
Net pre-tax restructuring costs		4		-		4		8
Utilization and foreign exchange		(19)		-		(8)		(27)
Balance at September 30, 2012	$	55	$	-	$	8	$	63

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References+ Details

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References+ Details