RTX (RTX) 10-Q 26 Jul 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2022 shares
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-00812
Entity Registrant Name	RAYTHEON TECHNOLOGIES CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-0570975
Entity Address, Address Line One	1000 Wilson Boulevard,
Entity Address, City or Town	Arlington,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22209
City Area Code	(781)
Local Phone Number	522-3000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,476,514,046
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000101829
Former Address [Member]
Entity Address, Address Line One	870 Winter Street,
Entity Address, City or Town	Waltham,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02451
Common Stock [Member]
Title of 12(b) Security	Common Stock ($1 par value)
Trading Symbol	RTX
Security Exchange Name	NYSE
Notes 2.150% Due 2030
Title of 12(b) Security	2.150% Notes due 2030
Trading Symbol	RTX 30
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net Sales:
Net sales	$ 16,314	$ 15,880	$ 32,030	$ 31,131
Costs and Expenses:
Research and development	698	657	1,333	1,246
Selling, general and administrative	1,424	1,368	2,893	2,588
Total costs and expenses	14,978	14,680	29,642	29,026
Other income, net	17	82	45	190
Operating profit	1,353	1,282	2,433	2,295
Non-service pension income	(474)	(490)	(954)	(981)
Interest expense, net	329	342	647	688
Total non-operating expense (income), net	(145)	(148)	(307)	(293)
Income from continuing operations before income taxes	1,498	1,430	2,740	2,588
Income tax expense	160	342	276	687
Net income from continuing operations	1,338	1,088	2,464	1,901
Less: Noncontrolling interest in subsidiaries’ earnings from continuing operations	34	48	57	89
Income from continuing operations attributable to common shareowners	1,304	1,040	2,407	1,812
Loss from discontinued operations attributable to common shareowners	0	(8)	(19)	(27)
Net income attributable to common shareowners	$ 1,304	$ 1,032	$ 2,388	$ 1,785
Earnings (loss) Per Share attributable to common shareowners - Basic:
Income from continuing operations	$ 0.88	$ 0.69	$ 1.62	$ 1.20
Loss from discontinued operations	0	0	(0.01)	(0.02)
Net income attributable to common shareowners	0.88	0.69	1.61	1.18
Earnings (loss) Per Share attributable to common shareowners - Diluted:
Income from continuing operations	0.88	0.69	1.61	1.20
Loss from discontinued operations	0	(0.01)	(0.01)	(0.02)
Net income attributable to common shareowners	$ 0.88	$ 0.68	$ 1.60	$ 1.18
Product [Member]
Net Sales:
Net sales	$ 12,258	$ 12,179	$ 24,120	$ 23,843
Costs and Expenses:
Cost of Sales	10,040	9,997	19,860	19,971
Service [Member]
Net Sales:
Net sales	4,056	3,701	7,910	7,288
Costs and Expenses:
Cost of Sales	$ 2,816	$ 2,658	$ 5,556	$ 5,221

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income from continuing and discontinued operations	$ 1,338	$ 1,080	$ 2,445	$ 1,874
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	(708)	258	(948)	82
Pension and postretirement benefit plans adjustments	47	50	68	104
Change in unrealized cash flow hedging	(182)	88	(145)	28
Other comprehensive income (loss), before tax	(843)	396	(1,025)	214
Income tax (expense) benefit related to items of other comprehensive income (loss)	27	(30)	9	(35)
Other comprehensive income (loss), net of tax	(816)	366	(1,016)	179
Comprehensive income	522	1,446	1,429	2,053
Less: Comprehensive income attributable to noncontrolling interest	34	48	57	89
Comprehensive income attributable to common shareowners	$ 488	$ 1,398	$ 1,372	$ 1,964

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 4,767	$ 7,832
Accounts receivable, net	10,394	9,661
Contract assets	11,836	11,361
Inventory, net	10,142	9,178
Other assets, current	4,323	4,018
Total Current Assets	41,462	42,050
Customer financing assets	2,675	2,848
Fixed assets	27,990	27,637
Accumulated depreciation	(13,249)	(12,665)
Fixed assets, net	14,741	14,972
Operating lease right-of-use assets	1,866	1,958
Goodwill	53,806	54,436
Intangible assets, net	37,562	38,516
Other assets	6,905	6,624
Total Assets	159,017	161,404
Short-term borrowings	113	134
Accounts payable	9,732	8,751
Accrued employee compensation	2,028	2,658
Other accrued liabilities	12,459	10,162
Contract liabilities	13,430	13,720
Long-term debt currently due	26	24
Total Current Liabilities	37,788	35,449
Long-term debt	31,274	31,327
Operating lease liabilities, non-current	1,593	1,657
Future pension and postretirement benefit obligations	7,543	7,855
Other long-term liabilities	8,791	10,417
Total Liabilities	86,989	86,705
Commitments and contingencies (Note 15)
Redeemable noncontrolling interest	38	35
Common Stock	37,673	37,483
Treasury Stock	(14,539)	(12,727)
Retained earnings	50,271	50,265
Unearned ESOP Shares	(33)	(38)
Accumulated other comprehensive loss	(2,931)	(1,915)
Total Shareowners' Equity	70,441	73,068
Noncontrolling interest	1,549	1,596
Total Equity	71,990	74,664
Total Liabilities, Redeemable Noncontrolling Interest and Equity	$ 159,017	$ 161,404

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Statement of Cash Flows [Abstract]
Net income from continuing operations	$ 2,464	$ 1,901
Adjustments to reconcile net income from continuing operations to net cash flows provided by operating activities:
Depreciation and amortization	2,013	2,255
Deferred income tax (benefit) provision	(1,147)	175
Stock compensation cost	212	227
Net periodic pension and other postretirement income	(714)	(715)
Change in:
Accounts receivable	(790)	293
Contract assets	(525)	(557)
Inventory	(1,033)	(133)
Other current assets	(353)	(258)
Accounts payable and accrued liabilities	2,109	(733)
Contract liabilities	(309)	(45)
Other operating activities, net	(165)	(361)
Net cash flows provided by operating activities from continuing operations	1,762	2,049
Investing Activities:
Capital expenditures	(918)	(747)
Investments in businesses	0	(6)
Dispositions of businesses, net of cash transferred (Note 2)	88	1,074
Customer financing assets payments, net	(7)	(102)
Increase in collaboration intangible assets	(91)	(60)
(Payments) receipts from settlements of derivative contracts, net	(151)	50
Other investing activities, net	(57)	30
Net cash flows (used in) provided by investing activities from continuing operations	(1,136)	239
Financing Activities:
Repayment of long-term debt	(2)	(307)
Change in short-term borrowings, net	(17)	(51)
Dividends paid on Common Stock	(1,543)	(1,461)
Repurchase of Common Stock	(1,779)	(1,007)
Net transfers to discontinued operations	0	(24)
Other financing activities, net	(286)	(269)
Net cash flows used in financing activities from continuing operations	(3,627)	(3,119)
Discontinued Operations:
Net cash used in operating activities	0	(24)
Net cash used in investing activities	0	0
Net cash provided by financing activities	0	24
Net cash used in discontinued operations	0	0
Effect of foreign exchange rate changes on cash and cash equivalents	(20)	79
Net decrease in cash, cash equivalents and restricted cash	(3,021)	(752)
Cash, cash equivalents and restricted cash, beginning of period	7,853	8,832
Cash, cash equivalents and restricted cash, end of period	4,832	8,080
Less: Restricted cash, included in Other assets	65	29
Cash and cash equivalents, end of period	$ 4,767	$ 8,051

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Changes in Equity Statement - USD ($) shares in Thousands, $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Unearned ESOP Shares [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Equity	$ 73,852
Stockholders' Equity Attributable to Parent		$ 36,930	$ (10,407)	$ 49,423	$ (49)	$ (3,734)
Noncontrolling interest							$ 1,689
Common Stock plans activity		253			6
Purchase of subsidiary shares from noncontrolling interest, net		0					0
Common Stock repurchased			(1,020)
Stockholders' Equity, Other			3	(2)
Net income	$ 1,785			1,785
Dividends on Common Stock				(2,215)
Dividends on ESOP Common Stock				(37)
Other comprehensive income (loss), net of tax						179
Net Income							89
Less: Redeemable noncontrolling interest net income							(3)
Dividends attributable to noncontrolling interest							(169)
Disposition of noncontrolling interest, net							0
Noncontrolling Interest, Increase from Capital Contributions							0
Shares of Common Stock issued under employee plans, net	1,276
Shares of Common Stock repurchased	12,642
Dividends declared per share of Common Stock	$ 1.495
Equity	$ 73,308
Stockholders' Equity Attributable to Parent		36,997	(10,780)	49,460	(46)	(3,921)
Noncontrolling interest							1,598
Common Stock plans activity		186			3
Purchase of subsidiary shares from noncontrolling interest, net		0					0
Common Stock repurchased			(645)
Stockholders' Equity, Other			1	(2)
Net income	$ 1,032			1,032
Dividends on Common Stock				(1,510)
Dividends on ESOP Common Stock				(26)
Other comprehensive income (loss), net of tax						366
Net Income							48
Less: Redeemable noncontrolling interest net income							(1)
Dividends attributable to noncontrolling interest							(39)
Disposition of noncontrolling interest, net							0
Noncontrolling Interest, Increase from Capital Contributions							0
Shares of Common Stock issued under employee plans, net	223
Shares of Common Stock repurchased	7,445
Dividends declared per share of Common Stock	$ 1.020
Equity	$ 72,721
Stockholders' Equity Attributable to Parent		37,183	(11,424)	48,954	(43)	(3,555)
Noncontrolling interest							1,606
Equity	74,664
Stockholders' Equity Attributable to Parent	73,068	37,483	(12,727)	50,265	(38)	(1,915)
Noncontrolling interest	1,596						1,596
Common Stock plans activity		203			5
Purchase of subsidiary shares from noncontrolling interest, net		(13)					(19)
Common Stock repurchased			(1,812)
Stockholders' Equity, Other			0	0
Net income	$ 2,388			2,388
Dividends on Common Stock				(2,342)
Dividends on ESOP Common Stock				(40)
Other comprehensive income (loss), net of tax						(1,016)
Net Income							57
Less: Redeemable noncontrolling interest net income							(3)
Dividends attributable to noncontrolling interest							(75)
Disposition of noncontrolling interest, net							(13)
Noncontrolling Interest, Increase from Capital Contributions							6
Shares of Common Stock issued under employee plans, net	2,280
Shares of Common Stock repurchased	19,046
Dividends declared per share of Common Stock	$ 1.610
Equity	$ 73,986
Stockholders' Equity Attributable to Parent		37,504	(13,483)	50,592	(36)	(2,115)
Noncontrolling interest							1,524
Common Stock plans activity		169			3
Purchase of subsidiary shares from noncontrolling interest, net		0					0
Common Stock repurchased			(1,056)
Stockholders' Equity, Other			0	(1)
Net income	$ 1,304			1,304
Dividends on Common Stock				(1,597)
Dividends on ESOP Common Stock				(27)
Other comprehensive income (loss), net of tax						(816)
Net Income							34
Less: Redeemable noncontrolling interest net income							(2)
Dividends attributable to noncontrolling interest							(11)
Disposition of noncontrolling interest, net							(2)
Noncontrolling Interest, Increase from Capital Contributions							6
Shares of Common Stock issued under employee plans, net	463
Shares of Common Stock repurchased	11,163
Dividends declared per share of Common Stock	$ 1.100
Equity	$ 71,990
Stockholders' Equity Attributable to Parent	70,441	$ 37,673	$ (14,539)	$ 50,271	$ (33)	$ (2,931)
Noncontrolling interest	$ 1,549						$ 1,549

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1: Basis of Presentation The Condensed Consolidated Financial Statements at June 30, 2022 and for the quarters and six months ended June 30, 2022 and 2021 are unaudited, and in the opinion of management include adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods. The results reported in these Condensed Consolidated Financial Statements should not necessarily be taken as indicative of results that may be expected for the entire year. The financial information included herein should be read in conjunction with the financial statements and notes in our 2021 Annual Report on Form 10-K. Raytheon Intelligence & Space (RIS) and Raytheon Missiles & Defense (RMD) follow a 4-4-5 fiscal calendar while Collins Aerospace (Collins) and Pratt & Whitney use a quarter calendar end. Throughout this Quarterly Report on Form 10-Q, when we refer to the quarters ended June 30, 2022 and June 30, 2021 with respect to RIS or RMD, we are referring to their July 3, 2022 and July 4, 2021 fiscal quarter ends, respectively. Unless the context otherwise requires, the terms “we,” “our,” “us,” “the Company,” “Raytheon Technologies,” and “RTC” mean Raytheon Technologies Corporation and its subsidiaries. Russia Sanctions. In response to the Russian military’s invasion of Ukraine on February 24, 2022, the U.S. government and the governments of various jurisdictions in which we operate, including Canada, the United Kingdom, the European Union, and others, have imposed broad economic sanctions and export controls targeting specific industries, entities and individuals in Russia. The Russian government has implemented similar counter-sanctions and export controls targeting specific industries, entities and individuals in the U.S. and other jurisdictions in which we operate. These government measures, among other limitations, restrict transactions involving various Russian banks and financial institutions and impose enhanced export controls limiting transfers of various goods, software and technologies to and from Russia, including broadened export controls specifically targeting the aerospace sector. These measures have adversely affected and could continue to adversely affect the Company and/or our supply chain, business partners or customers. As a result of these sanctions on Russia and export controls, in the first quarter of 2022, we recorded pretax charges of $290 million, $210 million net of tax and the impact of noncontrolling interest, within our Collins and Pratt & Whitney businesses primarily related to increased estimates for credit losses on both our accounts receivables and contract assets, inventory reserves and purchase order obligations, impairment of customer financing assets for products under lease, impairment of contract fulfillment costs that are no longer recoverable, and a loss on the exit of our investment in a Russia-based joint venture. Additionally, we reversed approximately $1.3 billion of remaining performance obligations (RPO) in the quarter ended March 31, 2022 related to our sales contracts in Russia at Pratt & Whitney and Collins. We will continue to monitor future developments, including additional sanctions and other measures, that could adversely affect the Company and/or our supply chain, business partners or customers.

Acquisitions, Dispositions, Goo

Acquisitions, Dispositions, Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2022
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Acquisitions, Dispositions, Goodwill and Other Intangible Assets	Note 2: Acquisitions, Dispositions, Goodwill and Intangible Assets During the six months ended June 30, 2022 and 2021, cash inflows related to dispositions were $88 million and $1.1 billion, respectively. Our dispositions of businesses in the six months ended June 30, 2022, consisted of immaterial dispositions in our aerospace businesses. Dispositions of businesses in the six months ended June 30, 2021 reflect the January 8, 2021 sale of our Forcepoint business, for proceeds of $1.1 billion, net of cash transferred. We did not recognize a pre-tax gain or loss within the Condensed Consolidated Statement of Operations related to the sale of Forcepoint. Goodwill. Changes in our goodwill balances for the six months ended June 30, 2022 were as follows: (dollars in millions) Balance as of January 1, 2022 Acquisitions and Divestitures Foreign Currency Translation and Other Balance as of June 30, 2022 Collins Aerospace Systems $ 31,384 $ (36) $ (614) $ 30,734 Pratt & Whitney 1,563 — — 1,563 Raytheon Intelligence & Space 9,813 23 (1) 9,835 Raytheon Missiles & Defense 11,659 — (2) 11,657 Total Segments 54,419 (13) (617) 53,789 Eliminations and other 17 — — 17 Total $ 54,436 $ (13) $ (617) $ 53,806 Intangible Assets. Identifiable intangible assets are comprised of the following: June 30, 2022 December 31, 2021 (dollars in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized: Collaboration assets $ 5,414 $ (1,265) $ 5,319 $ (1,173) Exclusivity assets 2,772 (324) 2,673 (318) Developed technology and other 1,194 (506) 1,214 (466) Customer relationships 29,798 (8,168) 29,982 (7,411) 39,178 (10,263) 39,188 (9,368) Unamortized: Trademarks and other 8,647 — 8,696 — Total $ 47,825 $ (10,263) $ 47,884 $ (9,368) Amortization of intangible assets for the quarters and six months ended June 30, 2022 and 2021 were $467 million and $954 million and $602 million and $1,198 million, respectively. The following is the expected amortization of intangible assets for the remainder of 2022 through 2027. (dollars in millions) Remaining 2022 2023 2024 2025 2026 2027 Amortization expense $ 1,008 $ 2,096 $ 2,219 $ 2,101 $ 2,013 $ 1,860

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Note 3: Earnings Per Share Quarter Ended June 30, Six Months Ended June 30, (dollars and shares in millions, except per share amounts) 2022 2021 2022 2021 Net income attributable to common shareowners: Income from continuing operations $ 1,304 $ 1,040 $ 2,407 $ 1,812 Loss from discontinued operations — (8) (19) (27) Net income attributable to common shareowners $ 1,304 $ 1,032 $ 2,388 $ 1,785 Basic weighted average number of shares outstanding 1,479.2 1,506.4 1,482.9 1,508.7 Stock awards and equity units (share equivalent) 10.4 7.1 10.8 5.0 Diluted weighted average number of shares outstanding 1,489.6 1,513.5 1,493.7 1,513.7 Earnings (Loss) Per Share attributable to common shareowners - Basic: Income from continuing operations $ 0.88 $ 0.69 $ 1.62 $ 1.20 Loss from discontinued operations — — (0.01) (0.02) Net income attributable to common shareowners $ 0.88 $ 0.69 $ 1.61 $ 1.18 Earnings (Loss) Per Share attributable to common shareowners - Diluted: Income from continuing operations $ 0.88 $ 0.69 $ 1.61 $ 1.20 Loss from discontinued operations — (0.01) (0.01) (0.02) Net income attributable to common shareowners $ 0.88 $ 0.68 $ 1.60 $ 1.18 The computation of diluted earnings per share (EPS) excludes the effect of the potential exercise of stock awards, including stock appreciation rights and stock options, when the average market price of the common stock is lower than the exercise price of the related stock awards during the period because the effect would be anti-dilutive. In addition, the computation of diluted EPS excludes the effect of the potential exercise of stock awards when the awards’ assumed proceeds exceed the average market price of the common shares during the period. For the quarter and six months ended June 30, 2022, the number of stock awards excluded from the computation was 3.4 million and 5.4 million, respectively. For the quarter and six months ended June 30, 2021, the number of stock awards excluded from the computation was 11.2 million and 19.0 million, respectively.

Changes in Contract Estimates a

Changes in Contract Estimates at Completion	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Changes in Contract Estimates at Completion	Note 4: Changes in Contract Estimates at Completion We review our Estimates at Completion (EACs) at least annually or when a change in circumstances warrants a modification to a previous estimate. For significant contracts, we review our EACs more frequently. Due to the nature of the work required to be performed on many of the Company’s performance obligations, the estimation of total revenue and cost at completion is complex, subject to many variables and requires significant judgment by management on a contract by contract basis. As part of this process, management reviews information including, but not limited to, any outstanding key contract matters, progress towards completion and the related program schedule, identified risks and opportunities and the related changes in estimates of revenues and costs. The risks and opportunities relate to management’s judgment about the ability and cost to achieve the schedule, consideration of customer-directed delays or reductions in scheduled deliveries, technical requirements, customer activity levels, such as flight hours or aircraft landings, and related variable consideration. Management must make assumptions and estimates regarding contract revenue and costs, including estimates of labor productivity and availability, the complexity and scope of the work to be performed, the availability and cost of materials, the length of time to complete the performance obligation, execution by our subcontractors, the availability and timing of funding from our customer, overhead cost rates, and current and past maintenance cost and frequency driven by estimated aircraft and engine utilization and estimated useful lives of components, among others. Cost estimates may also include the estimated cost of satisfying our industrial cooperation agreements, sometimes in the form of either offset obligations or in-country industrial participation (ICIP) agreements, required under certain contracts. These obligations may or may not be distinct depending on their nature. If cash is paid to a customer to satisfy our offset obligations it is recorded as a reduction in the transaction price. Changes in estimates of net sales, cost of sales and the related impact to operating profit on contracts recognized over time are recognized on a cumulative catch-up basis, which recognizes the cumulative effect of the profit changes on current and prior periods based on a performance obligation’s percentage of completion in the current period. A significant change in one or more of these estimates could affect the profitability of one or more of our performance obligations. Our EAC adjustments also include the establishment of and changes to loss provisions for our contracts accounted for on a percentage of completion basis. Net EAC adjustments had the following impact on our operating results: Quarter Ended June 30, Six Months Ended June 30, (dollars in millions, except per share amounts) 2022 2021 2022 2021 Total Net Sales $ (19) $ 73 $ 78 $ 125 Operating profit (41) 27 (5) 39 Income from continuing operations attributable to common shareowners (1) (32) 22 (4) 31 Diluted earnings per share from continuing operations attributable to common shareholders (1) $ (0.02) $ 0.01 $ — $ 0.02 (1) Amounts reflect a U.S. statutory tax rate of 21%, which approximates our tax rate on our EAC adjustments.

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure	Note 5: Accounts Receivable, Net Accounts receivable, net consisted of the following: (dollars in millions) June 30, 2022 December 31, 2021 Accounts receivable $ 10,897 $ 10,136 Allowance for expected credit losses (503) (475) Total accounts receivable, net $ 10,394 $ 9,661

Contract Assets and Liabilities

Contract Assets and Liabilities	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 6: Contract Assets and Liabilities Contract assets reflect revenue recognized and performance obligations satisfied in advance of customer billing. Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. We receive payments from customers based on the terms established in our contracts. Total contract assets and contract liabilities were as follows: (dollars in millions) June 30, 2022 December 31, 2021 Contract assets $ 11,836 $ 11,361 Contract liabilities (13,430) (13,720) Net contract liabilities $ (1,594) $ (2,359) Contract assets increased $475 million during the six months ended June 30, 2022 primarily due to sales in excess of billings at RIS and Pratt & Whitney. Contract liabilities decreased $290 million during the six months ended June 30, 2022 compared to December 31, 2021 primarily due to revenue recognized on certain contracts with milestone and performance based payments at RMD. We recognized revenue of $1.2 billion and $3.0 billion during the quarter and six months ended June 30, 2022, related to contract liabilities as of January 1, 2022 and $1.0 billion and $2.7 billion during the quarter and six months ended June 30, 2021, related to contract liabilities as of January 1, 2021. As of June 30, 2022, our Contract liabilities include approximately $380 million of advance payments received from a Middle East customer on contracts for which we no longer believe we will be able to execute on or obtain required regulatory approvals. These advance payments may become refundable to the customer if the contracts are ultimately terminated. In addition, as of June 30, 2022, our Contract liabilities include advance payments, in immaterial amounts, received from Russian customers on contracts we are currently unable to perform on due to global sanctions on Russia and export controls. Depending on the contractual terms and as allowed by sanctions, certain of these advance payments may become refundable. Contract assets include an allowance for credit losses of $318 million and $251 million as of June 30, 2022 and December 31, 2021, respectively.

Inventory, Net

Inventory, Net	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventory	Note 7: Inventory, net (dollars in millions) June 30, 2022 December 31, 2021 Raw materials $ 3,210 $ 3,024 Work-in-process 3,628 3,085 Finished goods 3,304 3,069 Total inventory, net $ 10,142 $ 9,178

Borrowings and Lines of Credit

Borrowings and Lines of Credit	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Borrowings and Lines of Credit	Note 8: Borrowings and Lines of Credit From time to time, we use commercial paper borrowings for general corporate purposes, including the funding of potential acquisitions, pension contributions, debt refinancing, dividend payments and repurchases of our common stock. The commercial paper notes have original maturities of not more than 90 days from the date of issuance. As of June 30, 2022, our maximum commercial paper borrowing limit was $5.0 billion as the commercial paper is backed by our $5.0 billion revolving credit agreement. We had no commercial paper outstanding at June 30, 2022 or December 31, 2021. As of June 30, 2022, we had revolving credit agreements with various banks permitting aggregate borrowings of up to $7.0 billion, consisting of a $5.0 billion revolving credit agreement, which expires in April 2025, and a $2.0 billion revolving credit agreement, which was renewed in May 2022 and expires in May 2023. As of June 30, 2022, there were no borrowings outstanding under these agreements. We had no issuances of long-term debt during the six months ended June 30, 2022 and 2021. We made the following repayments of long-term debt during the six months ended June 30, 2021: Repayment Date Description of Notes Aggregate Principal Balance (in millions) March 1, 2021 8.750% notes due 2021 $ 250 Long-term debt consisted of the following: (dollars in millions) June 30, 2022 December 31, 2021 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) 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) 382 382 7.100% notes due 2027 135 135 6.700% notes due 2028 285 285 7.000% notes due 2028 (1) 185 185 4.125% notes due 2028 (1) 3,000 3,000 7.500% notes due 2029 (1) 414 414 2.150% notes due 2030 (€500 million principal value) (1) 526 565 2.250% notes due 2030 (1) 1,000 1,000 1.900% notes due 2031 (1) 1,000 1,000 2.375% notes due 2032 (1) 1,000 1,000 5.400% notes due 2035 (1) 446 446 6.050% notes due 2036 (1) 410 410 6.800% notes due 2036 (1) 117 117 7.000% notes due 2038 148 148 6.125% notes due 2038 (1) 575 575 4.450% notes due 2038 (1) 750 750 5.700% notes due 2040 (1) 553 553 4.875% notes due 2040 (1) 600 600 4.700% notes due 2041 (1) 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) 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 1,000 3.030% notes due 2052 (1) 1,100 1,100 Other (including finance leases) 263 270 Total principal long-term debt 31,254 31,300 Other (fair value adjustments, (discounts)/premiums, and debt issuance costs) 46 51 Total long-term debt 31,300 31,351 Less: current portion 26 24 Long-term debt, net of current portion $ 31,274 $ 31,327 (1) We may redeem these notes, in whole or in part, at our option pursuant to their terms prior to the applicable maturity date. The average maturity of our Long-term debt at June 30, 2022 is approximately 15 years.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure	Note 9: Employee Benefit Plans Pension and Postretirement Plans. We sponsor both funded and unfunded domestic and foreign defined benefit pension and postretirement benefit (PRB) plans and defined contribution plans. Contributions to our plans were as follows: Quarter Ended June 30, Six Months Ended June 30, (dollars in millions) 2022 2021 2022 2021 U.S. qualified defined benefit plans $ — $ — $ — $ — International defined benefit plans 18 14 30 21 PRB plans 4 4 9 4 Defined contribution plans 251 238 562 509 The amounts recognized in the Condensed Consolidated Balance Sheet consist of: (dollars in millions) June 30, 2022 December 31, 2021 Noncurrent pension assets (included in Other assets) $ 3,869 $ 3,214 Current pension and PRB liabilities (included in Accrued employee compensation) 309 310 Future pension and postretirement benefit obligations 7,543 7,855 The amounts recognized in Future pension and postretirement benefit obligations consist of: (dollars in millions) June 30, 2022 December 31, 2021 Noncurrent pension liabilities $ 6,596 $ 6,873 Noncurrent PRB liabilities 876 903 Other pension and PRB related items 71 79 Future pension and postretirement benefit obligations $ 7,543 $ 7,855 The components of net periodic benefit (income) expense for our defined pension and PRB plans were as follows: Pension Benefits Quarter Ended June 30, PRB Quarter Ended June 30, (dollars in millions) 2022 2021 2022 2021 Operating expense Service cost $ 118 $ 131 $ 2 $ 2 Non-operating expense Interest cost 380 313 7 6 Expected return on plan assets (888) (871) (6) (5) Amortization of prior service credit (41) (42) — (1) Recognized actuarial net loss (gain) 77 109 (3) (2) Net settlement, curtailment and special termination benefit (gain) loss — 3 — — Non-service pension income (472) (488) (2) (2) Total net periodic benefit (income) expense $ (354) $ (357) $ — $ — Pension Benefits Six Months Ended June 30, PRB Six Months Ended June 30, (dollars in millions) 2022 2021 2022 2021 Operating expense Service cost $ 236 $ 262 $ 4 $ 4 Non-operating expense Interest cost 762 625 14 12 Expected return on plan assets (1,778) (1,739) (11) (10) Amortization of prior service credit (83) (84) — (2) Recognized actuarial net loss (gain) 154 218 (6) (4) Net settlement, curtailment and special termination benefit (gain) loss (6) 3 — — Non-service pension income (951) (977) (3) (4) Total net periodic benefit (income) expense $ (715) $ (715) $ 1 $ — We have set aside assets in separate trusts, which we expect to be used to pay for certain nonqualified defined benefit and defined contribution plan obligations in excess of qualified plan limits. These assets are included in Other assets in our Condensed Consolidated Balance Sheet. The fair value of marketable securities held in trusts was as follows: (dollars in millions) June 30, 2022 December 31, 2021 Marketable securities held in trusts $ 788 $ 965

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Tax Disclosure	Note 10: Income Taxes Our effective tax rate was 10.7% and 23.9% i n the quarters ended June 30, 2022 and 2021, respectively. The effective tax rate in the quarter ended June 30, 2022 includes a benefit of approximately 4 percentage points primarily related to an incremental Foreign Derived Intangible Income (FDII) benefit and other effects created by the capitalization of research or experimental expenditures for tax-purposes, which was enacted as part of the Tax Cuts and Jobs Act of 2017 and became effective on January 1, 2022. Tax expense in the quarter ended June 30, 2021 includes tax charges of $73 million incremental to the U.S. statutory rate associated with the revaluation of deferred taxes resulting from the increase in the United Kingdom (U.K.) corporate tax rate to 25% enacted in 2021 and effective in 2023. Our effective tax rate was 10.1% and 26.5% in the six months ended June 30, 2022 and 2021, respectively. The effective tax rate in the six months ended June 30, 2022 includes a benefit of approximately 5 percentage points primarily related to an incremental FDII benefit and other effects created by the capitalization of research or experimental expenditures for tax-purposes, which was enacted as part of the Tax Cuts and Jobs Act of 2017 and became effective on January 1, 2022. Tax expense in the six months ended June 30, 2021 includes tax charges incremental to the U.S. statutory rate of $148 million associated with the sale of the Forcepoint business, as described in “Note 2: Acquisitions, Dispositions, Goodwill and Intangible Assets,” and $73 million associated with the enactment of the U.K. corporate tax rate change discussed above. Subsequently, in the fourth quarter of 2021, we recognized an incremental $104 million tax benefit due to the revaluation of the Forcepoint tax benefit as a result of completing the divestiture of RIS’s global training and services business. We conduct business globally and, as a result, Raytheon Technologies or one or more of our subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business we are subject to examination by taxing authorities throughout the world, including such major jurisdictions as Canada, China, France, Germany, India, Poland, Saudi Arabia, Singapore, Switzerland, the United Kingdom and the United States. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations for years before 2012. In the ordinary course of business, there is inherent uncertainty in quantifying our income tax positions. We assess our income tax positions and record tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting date. It is reasonably possible that a net reduction within the range of $20 million to $400 million of unrecognized tax benefits may occur within the next 12 months as a result of the revaluation of uncertain tax positions arising from developments in examinations, in appeals, or in the courts, the closure of tax statutes, or the issuance of legislation, regulatory or other guidance. Management has determined that the distributions of Carrier and Otis on April 3, 2020, and certain related internal business separation transactions, qualified as tax-free under applicable law. In making these determinations, we applied the tax law in the relevant jurisdictions to our facts and circumstances and obtained tax rulings from the relevant taxing authorities, tax opinions, and/or other external tax advice related to the concluded tax treatment. If the completed distributions of Carrier or Otis, in each case, or certain internal business separation transactions, were to fail to qualify for tax-free treatment, the Company could be subject to significant liabilities, and there could be material adverse impacts on the Company’s business, financial condition, results of operations and cash flows in future reporting periods. The Examination Division of the Internal Revenue Service (IRS) is currently auditing Raytheon Technologies tax years 2017 and 2018 and pre-merger Raytheon Company tax periods 2017, 2018 and 2019 as well as certain refund claims of Raytheon Company for tax years 2014, 2015 and 2016 filed prior to the Raytheon merger. The audit of each of these tax years is expected to continue into 2023. The Examination Division of the IRS is currently auditing pre-acquisition Rockwell Collins fiscal tax years 2016 and 2017. During the second quarter of 2022, the IRS added fiscal tax year 2018 to their review. The audit of 2016, 2017, and 2018 is projected to close during 2023.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 11: Financial Instruments We enter into derivative instruments primarily for risk management purposes, including derivatives designated as hedging instruments and those utilized as economic hedges. We operate internationally and, in the normal course of business, are exposed to fluctuations in interest rates, foreign exchange rates and commodity prices. These fluctuations can increase the costs of financing, investing and operating the business. We have used derivative instruments, including swaps, forward contracts and options, to manage certain foreign currency, interest rate and commodity price exposures. The aggregate notional amount of our outstanding foreign currency hedges was $10.0 billion and $8.5 billion at June 30, 2022 and December 31, 2021, respectively. At June 30, 2022, all derivative contracts accounted for as cash flow hedges will m ature by February 2030. The following table summarizes the fair value and presentation in the Condensed Consolidated Balance Sheet for derivative instruments: (dollars in millions) Balance Sheet Location June 30, 2022 December 31, 2021 Derivatives designated as hedging instruments: Foreign exchange contracts Other assets, current $ 44 $ 59 Other accrued liabilities 344 202 Derivatives not designated as hedging instruments: Foreign exchange contracts Other assets, current $ 14 $ 11 Other accrued liabilities 23 11 The effect of cash flow hedging relationships on Accumulated other comprehensive income (loss) and on the Condensed Consolidated Statement of Operations in the quarters and six months ended June 30, 2022 and 2021 are presented in “Note 16: Accumulated Other Comprehensive Loss.” The amounts of gain or loss are attributable to foreign exchange contract activity and are primarily recorded as a component of Products sales when reclassified from Accumulated other comprehensive loss. The Company utilizes the critical terms match method in assessing derivatives for hedge effectiveness. Accordingly, the hedged items and derivatives designated as hedging instruments are highly effective. As of June 30, 2022, we have €500 million of euro-denominated long-term debt outstanding, which qualifies as a net investment hedge against our investments in European businesses, which is deemed to be effective. The effect of derivatives not designated as hedging instruments is included within Other income, net, on the Condensed Consolidated Statement of Operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Note 12: Fair Value Measurements The following tables provide the valuation hierarchy classification of assets and liabilities that are carried at fair value and measured on a recurring basis in our Condensed Consolidated Balance Sheet: June 30, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurements: Marketable securities held in trusts $ 788 $ 725 $ 63 $ — Derivative assets 58 — 58 — Derivative liabilities 367 — 367 — December 31, 2021 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurements: Marketable securities held in trusts $ 965 $ 890 $ 75 $ — Derivative assets 70 — 70 — Derivative liabilities 213 — 213 — Valuation Techniques. Our derivative assets and liabilities include foreign exchange contracts that are measured at fair value using internal models based on observable market inputs such as forward rates, interest rates, our own credit risk and our counterparties’ credit risks. As of June 30, 2022, there has not been any significant impact to the fair value of our derivative liabilities due to our own credit risk. Similarly, there has not been any significant adverse impact to our derivative assets based on our evaluation of our counterparties’ credit risks. The following table provides carrying amounts and fair values of financial instruments that are not carried at fair value in our Condensed Consolidated Balance Sheet: June 30, 2022 December 31, 2021 (dollars in millions) Carrying Fair Carrying Fair Customer financing notes receivable $ 198 $ 187 $ 195 $ 192 Long-term debt (excluding finance leases) 31,204 29,505 31,250 35,828 The following tables provides the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Condensed Consolidated Balance Sheet: June 30, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Customer financing notes receivable $ 187 $ — $ 187 $ — Long-term debt (excluding finance leases) 29,505 — 29,457 48 December 31, 2021 (dollars in millions) Total Level 1 Level 2 Level 3 Customer financing notes receivable $ 192 $ — $ 192 $ — Long-term debt (excluding finance leases) 35,828 — 35,778 50 The fair value of our Short-term borrowings approximates the carrying value due to their short-term nature, with commercial paper classified as level 2 and other short-term borrowings classified as level 3 within the fair value hierarchy.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entity Disclosure	Note 13: Variable Interest Entities Pratt & Whitney holds a 61% program share interest in the International Aero Engines AG (IAE) collaboration with MTU Aero Engines AG (MTU) and Japanese Aero Engines Corporation (JAEC) and a 49.5% ownership interest in IAE. IAE’s business purpose is to coordinate the design, development, manufacturing and product support of the V2500 engine program through involvement with the collaborators. Additionally, Pratt & Whitney, JAEC and MTU are participants in the International Aero Engines, LLC (IAE LLC) collaboration, whose business purpose is to coordinate the design, development, manufacturing and product support for the PW1100G-JM engine for the Airbus A320neo aircraft. Pratt & Whitney holds a 59% program share interest and a 59% ownership interest in IAE LLC. IAE and IAE LLC retain limited equity with the primary economics of the programs passed to the participants. As such, we have determined that IAE and IAE LLC are variable interest entities with Pratt & Whitney as the primary beneficiary. IAE and IAE LLC have, therefore, been consolidated. The carrying amounts and classification of assets and liabilities for variable interest entities in our Condensed Consolidated Balance Sheet are as follows: (dollars in millions) June 30, 2022 December 31, 2021 Current assets $ 8,130 $ 7,081 Noncurrent assets 795 825 Total assets $ 8,925 $ 7,906 Current liabilities $ 9,185 $ 7,965 Noncurrent liabilities 22 54 Total liabilities $ 9,207 $ 8,019

Guarantees

Guarantees	6 Months Ended
	Jun. 30, 2022
Service and Product Warranties and Product Performance Guarantees [Abstract]
Guarantees	Note 14: Guarantees We extend a variety of financial, market value and product performance guarantees to third parties. These instruments expire on various dates through 2028. Additional guarantees of project performance for which there is no stated value also remain outstanding. A portion of our third party guarantees are subject to indemnification for our benefit for any liabilities that could arise. As of June 30, 2022 and December 31, 2021, the following financial guarantees were outstanding: June 30, 2022 December 31, 2021 (dollars in millions) Maximum Potential Payment Carrying Amount of Liability Maximum Potential Payment Carrying Amount of Liability Commercial aerospace financing arrangements $ 304 $ — $ 309 $ 3 Third party guarantees 486 1 511 5 We have made residual value and other guarantees related to various commercial aerospace customer financing arrangements. The estimated fair values of the guaranteed assets equal or exceed the value of the related guarantees, net of existing reserves. Collaboration partners’ share of these financing guarantees is $140 million and $141 million at June 30, 2022 and December 31, 2021, respectively. We also have obligations arising from sales of certain businesses and assets, including those from representations and warranties and related indemnities for environmental, health and safety, tax and employment matters. The maximum potential payment related to these obligations is not a specified amount as a number of the obligations do not contain financial caps. The carrying amount of liabilities related to these obligations was $110 million and $120 million at June 30, 2022 and December 31, 2021, respectively. These primarily relate to environmental liabilities, which are included in our total environmental liabilities as further discussed in “Note 15: Commitments and Contingencies.” We accrue for costs associated with guarantees when it is probable that a liability has been incurred and the amount can be reasonably estimated. The most likely cost to be incurred is accrued based on an evaluation of currently available facts, and where no amount within a range of estimates is more likely, the minimum is accrued. We also provide service and warranty policies on our products and extend performance and operating cost guarantees beyond our normal service and warranty policies on some of our products, particularly commercial aircraft engines. In addition, we incur discretionary costs to service our products in connection with specific product performance issues. Liabilities for performance and operating cost guarantees are based upon future product performance and durability, and are largely estimated based upon historical experience. Adjustments are made to accruals as claims data and historical experience warrant. The changes in the carrying amount of service and product warranties and product performance guarantees for the six months ended June 30, 2022 and 2021 were as follows: (dollars in millions) 2022 2021 Balance as of January 1 $ 1,157 $ 1,057 Warranties and performance guarantees issued 128 176 Settlements (131) (128) Other (11) (3) Balance as of June 30 $ 1,143 $ 1,102

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	Note 15: Commitments and Contingencies Except as otherwise noted, while we are unable to predict the final outcome, based on information currently available, we do not believe that resolution of any of the following matters will have a material adverse effect upon our competitive position, results of operations, financial condition or liquidity. Environmental. Our operations are subject to environmental regulation by federal, state and local authorities in the United States and regulatory authorities with jurisdiction over our foreign operations. We have accrued for the costs of environmental remediation activities, including but not limited to investigatory, remediation, operating and maintenance costs and performance guarantees, and periodically reassess these amounts. We do not expect any additional liability to have a material adverse effect on our results of operations, financial condition or liquidity. As of June 30, 2022 and December 31, 2021, we had $824 million and $834 million, respectively, reserved for environmental remediation. Commercial Aerospace Financing and Other Commitments. We had commercial aerospace financing commitments and other contractual commitments of approximately $15.4 billion and $15.6 billion as of June 30, 2022 and December 31, 2021, respectively, on a gross basis before reduction for our collaboration partners’ share. Aircraft financing commitments, in the form of debt or lease financing, are provided to certain commercial aerospace customers. The extent to which the financing commitments will be utilized is not currently known, since customers may be able to obtain more favorable terms from other financing sources. We may also arrange for third-party investors to assume a portion of these commitments. The majority of financing commitments are collateralized arrangements. We may also lease aircraft and subsequently sublease the aircraft to customers under long-term non-cancelable operating leases, or pay deposits on behalf of our customers to secure production slots with the airframers (pre-delivery payments). Our financing commitments with customers are contingent upon maintenance of certain levels of financial condition by the customers. Associated risks on these commitments are mitigated due to the fact that interest rates are variable during the commitment term and are set at the date of funding based on current market conditions, the fair value of the underlying collateral and the credit worthiness of the customers. As a result, the fair value of these financing commitments is expected to equal the amounts funded. We also have other contractual commitments to make payments to secure certain contractual rights to provide product on new aircraft platforms. The estimated amount and timing of these payments are generally based on future sales or engine flight hours. Payments made on these contractual commitments are included within intangible assets as exclusivity assets and are amortized over the term of underlying economic benefit. We have entered into certain collaboration arrangements, which may include participation by our collaboration partners in these commitments. In addition, in connection with our 2012 agreement to acquire Rolls-Royce’s ownership and collaboration interests in IAE, additional payments are due to Rolls-Royce contingent upon each hour flown through June 2027 by the V2500-powered aircraft in service as of the acquisition date. These flight hour payments, which are considered in other contractual commitments, are capitalized as collaboration intangible assets as payments are made. Other Financing Arrangements. We have entered into standby letters of credit and surety bonds with financial institutions to meet various bid, performance, warranty, retention and advance payment obligations for us or our affiliates. We enter into these agreements to assist certain affiliates in obtaining financing on more favorable terms, making bids on contracts and performing their contractual obligations. The stated values of these letters of credit agreements and surety bonds totaled $3.4 billion as of June 30, 2022. Offset Obligations. We have entered into industrial cooperation agreements, sometimes in the form of either offset agreements or ICIP agreements, as a condition to obtaining orders for our products and services from certain customers in foreign countries. At June 30, 2022, the aggregate amount of our offset agreements, both agreed to and anticipated to be agreed to, had an outstanding notional value of approximately $11.7 billion. These agreements are designed to return economic value to the foreign country by requiring us to engage in activities supporting local defense or commercial industries, promoting a balance of trade, developing in-country technology capabilities or addressing other local development priorities. Offset agreements may be satisfied through activities that do not require a direct cash payment, including transferring technology, providing manufacturing, training and other consulting support to in-country projects, and the purchase by third parties (e.g., our vendors) of supplies from in-country vendors. These agreements may also be satisfied through our use of cash for activities such as subcontracting with local partners, purchasing supplies from in-country vendors, providing financial support for in-country projects and making investments in local ventures. Such activities may also vary by country depending upon requirements as dictated by their governments. We typically do not commit to offset agreements until orders for our products or services are definitive. The amounts ultimately applied against our offset agreements are based on negotiations with the customers and typically require cash outlays that represent only a fraction of the notional value in the offset agreements. Offset programs usually extend over several or more years and may provide for penalties in the event we fail to perform in accordance with offset requirements. Historically, we have not been required to pay any penalties of significance. Government Oversight. In the ordinary course of business, the Company and its subsidiaries and our properties are subject to regulatory and governmental examinations, information gathering requests, inquiries, investigations and threatened legal actions and proceedings. For example, we are now, and believe that, in light of the current U.S. government contracting environment, we will continue to be the subject of one or more U.S. government investigations. Our contracts with the U.S. government are also subject to audits. Agencies that oversee contract performance include: the Defense Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA), the Inspectors General of the U.S. Department of Defense (DoD) and other departments and agencies, the Government Accountability Office (GAO), the Department of Justice (DOJ), and Congressional Committees. Other areas of our business operations may also be subject to audit and investigation by these and other agencies. From time to time, agencies investigate or conduct audits to determine whether our operations are being conducted in accordance with applicable requirements. Such investigations and audits may be initiated due to a number of reasons, including as a result of a whistleblower complaint. Such investigations and audits could result in administrative, civil or criminal liabilities, including repayments, fines, treble or other damages, forfeitures, restitution, or penalties being imposed upon us, the suspension of government export licenses or the suspension or debarment from future U.S. government contracting. U.S. government investigations often take years to complete. The U.S. government also reserves the right to debar a contractor from receiving new government contracts for fraudulent, criminal or other seriously improper conduct. The U.S. government could void any contracts found to be tainted by fraud. Like many defense contractors, we have received audit reports recommending the reduction of certain contract prices because, for example, cost or pricing data or cost accounting practices used to price and negotiate those contracts may not have conformed to government regulations. Some of these audit reports recommend that certain payments be repaid, delayed, or withheld, and may involve substantial amounts. We have made voluntary refunds in those cases we believe appropriate, have settled some allegations and, in some cases, continue to negotiate and/or litigate. The Company may be, and in some cases has been, required to make payments into escrow of disputed liabilities while the related litigation is pending. If the litigation is resolved in the Company’s favor, any such payments will be returned to the Company with interest. Our final allowable incurred costs for each year are also subject to audit and have, from time to time, resulted in disputes between us and the U.S. government, with litigation resulting at the Court of Federal Claims (COFC) or the Armed Services Board of Contract Appeals (ASBCA) or their related courts of appeals. In addition, the DOJ has, from time to time, convened grand juries to investigate possible irregularities by us. We also provide products and services to customers outside of the U.S., and those sales are subject to local government laws, regulations and procurement policies and practices. Our compliance with such local government regulations or any applicable U.S. government regulations (e.g., the Foreign Corrupt Practices Act (FCPA) and International Traffic in Arms Regulations (ITAR)) may also be investigated or audited. In addition, we accrue for liabilities associated with those matters that are probable and can be reasonably estimated. The most likely liability amount to be incurred is accrued based upon a range of estimates. Where no amount within a range of estimates is more likely, then we accrue the minimum amount. Other than as specifically disclosed in this Form 10-Q, we do not expect these audits, investigations or disputes to have a material effect on our results of operations, financial condition or liquidity, either individually or in the aggregate. Legal Proceedings. The Company and its subsidiaries are subject to various contract pricing disputes, government investigations and litigation matters across jurisdictions, updates to certain of which are set forth below. Cost Accounting Standards Claims As previously disclosed, in April 2019, a Divisional Administrative Contracting Officer (DACO) of the United States DCMA asserted a claim against Pratt & Whitney to recover alleged overpayments of approximately $1.73 billion plus interest ($773 million at June 30, 2022). The claim is based on Pratt & Whitney’s alleged noncompliance with Cost Accounting Standards (CAS) from January 1, 2007 to March 31, 2019, due to its method of allocating independent research and development costs to government contracts. Pratt & Whitney believes that the claim is without merit and filed an appeal to the ASBCA on June 7, 2019. As previously disclosed, in December 2013, a DCMA DACO asserted a claim against Pratt & Whitney to recover alleged overpayments of approximately $177 million plus interest ($124 million at June 30, 2022). The claim is based on Pratt & Whitney’s alleged noncompliance with CAS from January 1, 2005 to December 31, 2012, due to its method of determining the cost of collaborator parts used in the calculation of material overhead costs for government contracts. In 2014, Pratt & Whitney filed an appeal to the ASBCA. An evidentiary hearing was held and completed in June 2019. On November 22, 2021, the ASBCA issued its written decision sustaining in part and denying in part Pratt & Whitney’s appeal. The ASBCA rejected the DCMA’s asserted measure of the cost of collaborator parts, and ruled substantially in Pratt & Whitney’s favor on other liability issues. The ASBCA remanded the appeal to the parties for resolution of damages issues, which could require further proceedings at the ASBCA. On December 23, 2021, the DCMA filed a motion with the ASBCA seeking partial reconsideration of the November 22, 2021 decision. Although the ASBCA decision may also be subject to further appellate review, we believe that the ASBCA’s rejection of the DCMA’s asserted measure of the cost of collaborator parts is well supported in fact and law and likely will be sustained. In December 2018, a DCMA DACO issued a second claim against Pratt & Whitney that similarly alleges that its method of determining the cost of collaborator parts does not comply with the CAS for calendar years 2013 through 2017. This second claim, which asserts the same measure of the cost of collaborator parts rejected by the ASBCA’s recent decision, demands payment of $269 million plus interest ($86 million at June 30, 2022). Pratt & Whitney appealed this second claim to the ASBCA in January 2019. Although subject to further litigation at the ASBCA and potentially further appellate proceedings, we believe that the November 22, 2021 decision in the first claim will apply with equal legal effect to the second claim. Accordingly, we believe that the amounts demanded by the DCMA as set forth in the two claims are without legal basis and that any damages owed to the U.S. government for the two claims will not have a material adverse effect on our results of operations, financial condition or liquidity. Thales-Raytheon Systems Matter As previously disclosed, in 2019, Raytheon Company received a subpoena from the Securities and Exchange Commission (SEC) seeking information in connection with an investigation into whether there were improper payments made by Thales-Raytheon Systems (TRS) or anyone acting on their behalf in connection with TRS or Raytheon Company contracts in certain Middle East countries since 2014. In the first quarter of 2020, the DOJ advised Raytheon Company it had opened a parallel criminal investigation. In the third quarter of 2020, Raytheon Company received an additional subpoena from the SEC, seeking information and documents as part of its ongoing investigation. The Company maintains a rigorous anti-corruption compliance program, is cooperating fully with the SEC’s and DOJ’s inquiry, and is examining whether there has been any conduct that is in violation of Raytheon Company policy. At this time, the Company is unable to predict the outcome of the SEC’s or DOJ’s inquiry. Based on the information available to date, however, we do not believe the results of this inquiry will have a material adverse effect on our results of operations, financial condition or liquidity. DOJ Investigation, Contract Pricing Disputes and Related Civil Litigation As previously disclosed, on October 8, 2020, the Company received a criminal subpoena from the DOJ seeking information and documents in connection with an investigation relating to financial accounting, internal controls over financial reporting, and cost reporting regarding Raytheon Company’s Missiles & Defense (RMD) business since 2009. The investigation involves multi-year contracts subject to governmental regulation, including potential civil defective pricing claims for three RMD contracts entered into between 2011 and 2013. As part of the same investigation, on March 24, 2021, the Company received a second criminal subpoena from the DOJ seeking documents relating to a different RMD contract entered into in 2017. We are cooperating fully with, and will continue to review the issues raised by, the DOJ’s ongoing investigation. We have made substantial progress in our internal review of the issues raised by the DOJ investigation. Although we continue to believe we have defenses to the potential claims, the Company has determined that there is a probable risk of liability for damages, interest and potential penalties and has accrued approximately $290 million for this matter . We are currently unable to estimate an incremental loss, if any, which may result following the completion of our internal review and resolution of the DOJ investigation. Based on the information available to date, we do not believe the results of the investigation or of any potential civil litigation will have a material adverse effect on our results of operations, financial condition or liquidity. Four shareholder lawsuits were filed against the Company after the DOJ investigation was first disclosed. A putative securities class action lawsuit was filed in the United States District Court for the District of Arizona against the Company and certain of its executives alleging that the defendants violated federal securities laws by making material misstatements in regulatory filings regarding internal controls over financial reporting in RMD. Three shareholder derivative lawsuits were filed in the United States District Court for the District of Delaware against the former Raytheon Company Board of Directors, the Company and certain of its executives, each alleging that defendants violated federal securities laws and breached their fiduciary duties by engaging in improper accounting practices, failing to implement sufficient internal financial and compliance controls, and making a series of false and misleading statements in regulatory filings. We believe that each of these lawsuits lacks merit. Darnis, et al. As previously disclosed, on August 12, 2020, several former employees of United Technologies Corporation (UTC) or its subsidiaries filed a putative class action complaint in the United States District Court for the District of Connecticut against the Company, Otis, Carrier, the former members of the UTC Board of Directors, and the members of the Carrier and Otis Boards of Directors (Geraud Darnis, et al. v. Raytheon Technologies Corporation, et al.). The complaint challenged the method by which UTC equity awards were converted to Company, Otis, and Carrier equity awards following the separation of UTC into three independent, publicly-traded companies on April 3, 2020. The complaint also claimed that the defendants are liable for breach of certain equity compensation plans and also asserted claims under certain provisions of the Employee Retirement Income Security Act of 1974 (ERISA). On September 13, 2021, Plaintiffs filed an amended complaint which supersedes the initial complaint and continues to assert claims for breach of the equity compensation plans against the Company, Otis and Carrier, but no longer asserts ERISA claims. Further, no claim is made in the amended complaint against any current or former director of any of the three companies. Plaintiffs seek money damages, attorneys’ fees and other relief. We continue to believe that the Company has meritorious defenses to these claims. At this time, the Company is unable to predict the outcome; however, based on the information available to date, we do not believe that this matter will have a material adverse effect on our results of operations, financial condition or liquidity. DOJ Grand Jury Investigation and Related Civil Litigation The Company received a grand jury subpoena in late 2019, as part of a DOJ criminal investigation into purported agreements not to solicit or hire employees in violation of the federal antitrust laws. While the investigation has focused on alleged hiring restrictions between and among Pratt & Whitney and certain of its suppliers of outsourced engineering services, the subpoena also included requests regarding Collins. Since receipt of the subpoena, the Company has been cooperating with the DOJ investigation. On December 15, 2021, a criminal indictment was filed in the United States District Court for the District of Connecticut, against a former Pratt & Whitney employee and other employees of certain outsourced engineering suppliers charging each of them with one count of violating the federal antitrust laws. No current or former Collins employees were named in the indictment. We have been advised that the Company is a target of the DOJ investigation, and we continue to cooperate with the investigation. No criminal charge has been filed against the Company or its affiliates. After the criminal charges against the individuals were filed, numerous civil class action antitrust lawsuits have been filed against Pratt & Whitney and other corporate and individual defendants in the United States District Court for the District of Connecticut. The allegations in each of the civil lawsuits track the factual assertions in the criminal indictment and generally allege that Pratt & Whitney and the other defendants agreed to restrict the hiring and recruiting of certain engineers and skilled laborers in a manner that violated federal antitrust laws. Plaintiffs in each of the civil lawsuits seek to represent different purported classes of engineers and skilled laborers employed by Pratt & Whitney and other supplier-defendants since 2011. Plaintiffs in each of the lawsuits seek treble damages in an undetermined amount, plus attorneys’ fees and costs of suit. All of the lawsuits have been consolidated, and a single amended class action complaint was filed. We believe that the claims asserted lack merit. Based on the information available to date, we do not believe that this matter will have a material adverse effect on our results of operations, financial condition or liquidity. Where appropriate, we have recorded loss contingency accruals for the above-referenced matters, and the amounts individually, or in the aggregate, are not material. Other. As described in “Note 14: Guarantees,” we extend performance and operating cost guarantees beyond our normal warranty and service policies for extended periods on some of our products. We have accrued our estimate of the liability that may result under these guarantees and for service costs that are probable and can be reasonably estimated. We also have other commitments and contingent liabilities related to legal proceedings, self-insurance programs and matters arising out of the normal course of business. We accrue contingencies based upon a range of possible outcomes. If no amount within this range is a better estimate than any other, then we accrue the minimum amount. In the ordinary course of business, the Company and its subsidiaries are also routinely defendants in, parties to or otherwise subject to many pending and threatened legal actions, claims, disputes and proceedings. These matters are often based on alleged violations of contract, product liability, warranty, regulatory, environmental, health and safety, employment, intellectual property, tax and other laws. In some instances, claims for substantial monetary damages are asserted against the Company and its subsidiaries and could result in fines, penalties, compensatory or treble damages or non-monetary relief. We do not believe that these matters will have a material adverse effect upon our results of operations, financial condition or liquidity.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss) Note	Note 16: Accumulated Other Comprehensive Loss A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the quarters and six months ended June 30, 2022 and 2021 is provided below: (dollars in millions) Foreign Currency Translation Defined Benefit Pension and Postretirement Plans Unrealized Hedging Gains (Losses) Accumulated Other Comprehensive Income (Loss) Quarter Ended June 30, 2022 Balance at March 31, 2022 $ (194) $ (1,811) $ (110) $ (2,115) Other comprehensive income (loss) before reclassifications, net (708) 14 (199) (893) Amounts reclassified, pre-tax — 33 17 50 Tax benefit (expense) (6) (8) 41 27 Balance at June 30, 2022 $ (908) $ (1,772) $ (251) $ (2,931) Six Months Ended June 30, 2022 Balance at December 31, 2021 $ 49 $ (1,828) $ (136) $ (1,915) Other comprehensive income (loss) before reclassifications, net (950) 3 (168) (1,115) Amounts reclassified, pre-tax 2 65 23 90 Tax benefit (expense) (9) (12) 30 9 Balance at June 30, 2022 $ (908) $ (1,772) $ (251) $ (2,931) (dollars in millions) Foreign Currency Translation Defined Benefit Pension and Postretirement Plans Unrealized Hedging Gains (Losses) Accumulated Other Comprehensive Income (Loss) Quarter Ended June 30, 2021 Balance at March 31, 2021 $ 529 $ (4,441) $ (9) $ (3,921) Other comprehensive income (loss) before reclassifications, net 258 (14) 108 352 Amounts reclassified, pre-tax — 64 (20) 44 Tax benefit (expense) 2 (11) (21) (30) Balance at June 30, 2021 $ 789 $ (4,402) $ 58 $ (3,555) Six Months Ended June 30, 2021 Balance at December 31, 2020 $ 710 $ (4,483) $ 39 $ (3,734) Other comprehensive income (loss) before reclassifications, net 82 (24) 62 120 Amounts reclassified, pre-tax — 128 (34) 94 Tax benefit (expense) (3) (23) (9) (35) Balance at June 30, 2021 $ 789 $ (4,402) $ 58 $ (3,555)

Segment Financial Data

Segment Financial Data	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Reporting Disclosure	Note 17: Segment Financial Data Our operations, for the periods presented herein, are classified into four principal segments: Collins, Pratt & Whitney, RIS and RMD. The segments are generally based on the management structure of the businesses and the grouping of similar operating companies, where each management organization has general operating autonomy over diversified products and services. We present a FAS/CAS operating adjustment outside of segment results, which represents the difference between the service cost component of our pension and PRB expense under the Financial Accounting Standards (FAS) requirements of U.S. Generally Accepted Accounting Principles (GAAP) and our pension and PRB expense under U.S. government Cost Accounting Standards (CAS) primarily related to our RIS and RMD segments. While the ultimate liability for pension and PRB costs under FAS and CAS is similar, the pattern of cost recognition is different. Over time, we generally expect to recover the related RIS and RMD pension and PRB liabilities through the pricing of our products and services to the U.S. government. Collins and Pratt & Whitney generally record pension and PRB expense on a FAS basis. Acquisition accounting adjustments include the amortization of acquired intangible assets related to acquisitions, the amortization of the property, plant and equipment fair value adjustment acquired through acquisitions and the amortization of customer contractual obligations related to loss making or below market contracts acquired. These adjustments are not considered part of management’s evaluation of segment results. Total sales and operating profit by segment include inter-segment sales which are generally recorded at cost-plus a specified fee or at a negotiated fixed price. These pricing arrangements may result in margins different than what the purchasing segment realizes on the ultimate third-party sale. Results for the quarters ended June 30, 2022 and 2021 are as follows: Net Sales Operating Profit Operating Profit Margins (dollars in millions) 2022 2021 2022 2021 2022 2021 Collins Aerospace Systems $ 5,011 $ 4,545 $ 546 $ 506 10.9 % 11.1 % Pratt & Whitney 4,969 4,280 302 112 6.1 % 2.6 % Raytheon Intelligence & Space 3,570 3,805 315 415 8.8 % 10.9 % Raytheon Missiles & Defense 3,558 3,985 348 532 9.8 % 13.4 % Total segment 17,108 16,615 1,511 1,565 8.8 % 9.4 % Eliminations and other (1) (794) (735) (47) (40) Corporate expenses and other unallocated items (2) — — (42) (149) FAS/CAS operating adjustment — — 379 425 Acquisition accounting adjustments — — (448) (519) Consolidated $ 16,314 $ 15,880 $ 1,353 $ 1,282 8.3 % 8.1 % (1) Includes the operating results of certain smaller non-reportable business segments. (2) Includes the net expenses related to the U.S. Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) project. Results for the six months ended June 30, 2022 and 2021 are as follows: Net Sales Operating Profit Operating Profit Margins (dollars in millions) 2022 2021 2022 2021 2022 2021 Collins Aerospace Systems $ 9,835 $ 8,915 $ 986 $ 820 10.0 % 9.2 % Pratt & Whitney 9,498 8,310 453 132 4.8 % 1.6 % Raytheon Intelligence & Space 7,142 7,570 693 803 9.7 % 10.6 % Raytheon Missiles & Defense 7,085 7,778 735 1,028 10.4 % 13.2 % Total segment 33,560 32,573 2,867 2,783 8.5 % 8.5 % Eliminations and other (1) (1,530) (1,442) (81) (71) Corporate expenses and other unallocated items (2) — — (178) (230) FAS/CAS operating adjustment — — 757 848 Acquisition accounting adjustments — — (932) (1,035) Consolidated $ 32,030 $ 31,131 $ 2,433 $ 2,295 7.6 % 7.4 % (1) Includes the operating results of certain smaller non-reportable business segments. (2) Includes the net expenses related to the U.S. Army’s LTAMDS project. We disaggregate our contracts from customers by geographic region based on customer location, by customer and by sales type. Our geographic region based on customer location uses end user customer location where known or practical to determine, or in instances where the end user customer is not known or not practical to determine, we utilize “ship to” location as the customer location. In addition, for our RIS and RMD segments, we disaggregate our contracts from customers by contract type. We believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Segment sales disaggregated by geographic region for the quarters ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total United States $ 2,458 $ 2,562 $ 2,852 $ 2,313 $ — $ 10,185 $ 2,323 $ 2,139 $ 3,020 $ 2,385 $ 4 $ 9,871 Europe 1,270 1,057 103 248 — 2,678 1,062 807 118 325 4 2,316 Asia Pacific 455 825 190 338 — 1,808 470 971 205 356 — 2,002 Middle East and North Africa 119 112 62 576 — 869 115 85 132 835 — 1,167 Canada and All Other 305 413 38 18 — 774 203 278 26 17 — 524 Consolidated net sales 4,607 4,969 3,245 3,493 — 16,314 4,173 4,280 3,501 3,918 8 15,880 Inter-segment sales 404 — 325 65 (794) — 372 — 304 67 (743) — Business segment sales $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 $ 4,545 $ 4,280 $ 3,805 $ 3,985 $ (735) $ 15,880 Segment sales disaggregated by geographic region for the six months ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total United States $ 4,707 $ 4,874 $ 5,718 $ 4,612 $ 4 $ 19,915 $ 4,565 $ 4,298 $ 5,985 $ 4,742 $ 11 $ 19,601 Europe 2,584 1,936 210 520 — 5,250 2,141 1,433 232 652 5 4,463 Asia Pacific 952 1,698 353 662 — 3,665 875 1,764 409 726 — 3,774 Middle East and North Africa 231 190 143 1,134 — 1,698 210 189 265 1,495 — 2,159 Canada and All Other 598 800 74 30 — 1,502 420 626 55 33 — 1,134 Consolidated net sales 9,072 9,498 6,498 6,958 4 32,030 8,211 8,310 6,946 7,648 16 31,131 Inter-segment sales 763 — 644 127 (1,534) — 704 — 624 130 (1,458) — Business segment sales $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 $ 8,915 $ 8,310 $ 7,570 $ 7,778 $ (1,442) $ 31,131 Segment sales disaggregated by type of customer for the quarters ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total U.S. government (1) $ 1,023 $ 1,417 $ 2,805 $ 2,314 $ — $ 7,559 $ 1,147 $ 1,191 $ 2,944 $ 2,384 $ 4 $ 7,670 Foreign military sales through the U.S. government 53 304 149 675 — 1,181 25 397 209 866 — 1,497 Foreign government direct commercial sales 263 116 212 504 — 1,095 301 127 217 668 — 1,313 Commercial aerospace and other commercial 3,268 3,132 79 — — 6,479 2,700 2,565 131 — 4 5,400 Consolidated net sales 4,607 4,969 3,245 3,493 — 16,314 4,173 4,280 3,501 3,918 8 15,880 Inter-segment sales 404 — 325 65 (794) — 372 — 304 67 (743) — Business segment sales $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 $ 4,545 $ 4,280 $ 3,805 $ 3,985 $ (735) $ 15,880 (1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by type of customer for the six months ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total U.S. government (1) $ 2,074 $ 2,591 $ 5,617 $ 4,611 $ 4 $ 14,897 $ 2,369 $ 2,453 $ 5,844 $ 4,741 $ 11 $ 15,418 Foreign military sales through the U.S. government 107 501 309 1,440 — 2,357 65 639 417 1,671 — 2,792 Foreign government direct commercial sales 514 219 416 905 — 2,054 546 266 446 1,235 — 2,493 Commercial aerospace and other commercial 6,377 6,187 156 2 — 12,722 5,231 4,952 239 1 5 10,428 Consolidated net sales 9,072 9,498 6,498 6,958 4 32,030 8,211 8,310 6,946 7,648 16 31,131 Inter-segment sales 763 — 644 127 (1,534) — 704 — 624 130 (1,458) — Business segment sales $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 $ 8,915 $ 8,310 $ 7,570 $ 7,778 $ (1,442) $ 31,131 (1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by sales type for the quarters ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Products $ 3,577 $ 2,982 $ 2,564 $ 3,135 $ — $ 12,258 $ 3,349 $ 2,582 $ 2,675 $ 3,565 $ 8 $ 12,179 Services 1,030 1,987 681 358 — 4,056 824 1,698 826 353 — 3,701 Consolidated net sales 4,607 4,969 3,245 3,493 — 16,314 4,173 4,280 3,501 3,918 8 15,880 Inter-segment sales 404 — 325 65 (794) — 372 — 304 67 (743) — Business segment sales $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 $ 4,545 $ 4,280 $ 3,805 $ 3,985 $ (735) $ 15,880 Segment sales disaggregated by sales type for the six months ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Products $ 7,059 $ 5,615 $ 5,168 $ 6,274 $ 4 $ 24,120 $ 6,531 $ 5,005 $ 5,351 $ 6,940 $ 16 $ 23,843 Services 2,013 3,883 1,330 684 — 7,910 1,680 3,305 1,595 708 — 7,288 Consolidated net sales 9,072 9,498 6,498 6,958 4 32,030 8,211 8,310 6,946 7,648 16 31,131 Inter-segment sales 763 — 644 127 (1,534) — 704 — 624 130 (1,458) — Business segment sales $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 $ 8,915 $ 8,310 $ 7,570 $ 7,778 $ (1,442) $ 31,131 RIS and RMD segment sales disaggregated by contract type for the quarters ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Raytheon Intelligence & Space Raytheon Missiles & Defense Raytheon Intelligence & Space Raytheon Missiles & Defense Fixed-price $ 1,353 $ 2,043 $ 1,556 $ 2,402 Cost-type 1,892 1,450 1,945 1,516 Consolidated net sales 3,245 3,493 3,501 3,918 Inter-segment sales 325 65 304 67 Business segment sales $ 3,570 $ 3,558 $ 3,805 $ 3,985 RIS and RMD segment sales disaggregated by contract type for the six months ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Raytheon Intelligence & Space Raytheon Missiles & Defense Raytheon Intelligence & Space Raytheon Missiles & Defense Fixed-price $ 2,693 $ 4,118 $ 3,027 $ 4,653 Cost-type 3,805 2,840 3,919 2,995 Consolidated net sales 6,498 6,958 6,946 7,648 Inter-segments sales 644 127 624 130 Business segment sales $ 7,142 $ 7,085 $ 7,570 $ 7,778

Remaining Performance Obligatio

Remaining Performance Obligations (RPO)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Remaining Performance Obligation	Note 18: Remaining Performance Obligations (RPO)RPO represent the aggregate amount of total contract transaction price that is unsatisfied or partially unsatisfied. Total RPO was $161 billion as of June 30, 2022. In the quarter ended March 31, 2022, we reversed approximately $1.3 billion of RPO related to our sales contracts in Russia due to global sanctions on and export controls with respect to Russia, as further discussed in “Note 1: Basis of Presentation.” Of the total RPO as of June 30, 2022, we expect approximately 30% will be recognized as sales over the next 12 months. Approximately 40% of our RPO relates to long-term commercial aerospace maintenance contracts at Pratt & Whitney, which are generally expected to be realized over a span of up to 15 years.

Accounting Pronouncements

Accounting Pronouncements	6 Months Ended
	Jun. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Pronouncements	Note 19: Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an acquirer to apply the guidance in ASC 606, Revenue from Contracts with Customers, to recognize and measure contract assets and contract liabilities in a business combination, rather than using fair value. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. Effective January 1, 2022, we elected to early adopt the requirements of the new standard on a prospective basis. The adoption of the standard did not have an impact on our financial position, results of operations or liquidity. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, which requires business entities to make specific annual disclosures about transactions with a government. The new standard is effective for fiscal years beginning after December 15, 2021. We are currently evaluating the impact of the standard, but we do not expect it to have a material impact on our disclosures. Other new pronouncements issued but not effective until after June 30, 2022 are not expected to have a material impact on our financial condition, results of operations or liquidity.

Acquisitions, Dispositions, G_2

Acquisitions, Dispositions, Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Schedule of Goodwill	Changes in our goodwill balances for the six months ended June 30, 2022 were as follows: (dollars in millions) Balance as of January 1, 2022 Acquisitions and Divestitures Foreign Currency Translation and Other Balance as of June 30, 2022 Collins Aerospace Systems $ 31,384 $ (36) $ (614) $ 30,734 Pratt & Whitney 1,563 — — 1,563 Raytheon Intelligence & Space 9,813 23 (1) 9,835 Raytheon Missiles & Defense 11,659 — (2) 11,657 Total Segments 54,419 (13) (617) 53,789 Eliminations and other 17 — — 17 Total $ 54,436 $ (13) $ (617) $ 53,806
Schedule of Indefinite-Lived Intangible Assets	Identifiable intangible assets are comprised of the following: June 30, 2022 December 31, 2021 (dollars in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized: Collaboration assets $ 5,414 $ (1,265) $ 5,319 $ (1,173) Exclusivity assets 2,772 (324) 2,673 (318) Developed technology and other 1,194 (506) 1,214 (466) Customer relationships 29,798 (8,168) 29,982 (7,411) 39,178 (10,263) 39,188 (9,368) Unamortized: Trademarks and other 8,647 — 8,696 — Total $ 47,825 $ (10,263) $ 47,884 $ (9,368)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following is the expected amortization of intangible assets for the remainder of 2022 through 2027. (dollars in millions) Remaining 2022 2023 2024 2025 2026 2027 Amortization expense $ 1,008 $ 2,096 $ 2,219 $ 2,101 $ 2,013 $ 1,860

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Quarter Ended June 30, Six Months Ended June 30, (dollars and shares in millions, except per share amounts) 2022 2021 2022 2021 Net income attributable to common shareowners: Income from continuing operations $ 1,304 $ 1,040 $ 2,407 $ 1,812 Loss from discontinued operations — (8) (19) (27) Net income attributable to common shareowners $ 1,304 $ 1,032 $ 2,388 $ 1,785 Basic weighted average number of shares outstanding 1,479.2 1,506.4 1,482.9 1,508.7 Stock awards and equity units (share equivalent) 10.4 7.1 10.8 5.0 Diluted weighted average number of shares outstanding 1,489.6 1,513.5 1,493.7 1,513.7 Earnings (Loss) Per Share attributable to common shareowners - Basic: Income from continuing operations $ 0.88 $ 0.69 $ 1.62 $ 1.20 Loss from discontinued operations — — (0.01) (0.02) Net income attributable to common shareowners $ 0.88 $ 0.69 $ 1.61 $ 1.18 Earnings (Loss) Per Share attributable to common shareowners - Diluted: Income from continuing operations $ 0.88 $ 0.69 $ 1.61 $ 1.20 Loss from discontinued operations — (0.01) (0.01) (0.02) Net income attributable to common shareowners $ 0.88 $ 0.68 $ 1.60 $ 1.18

Changes in Contract Estimates_2

Changes in Contract Estimates at Completion (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Schedule of Change in Accounting Estimate	Net EAC adjustments had the following impact on our operating results: Quarter Ended June 30, Six Months Ended June 30, (dollars in millions, except per share amounts) 2022 2021 2022 2021 Total Net Sales $ (19) $ 73 $ 78 $ 125 Operating profit (41) 27 (5) 39 Income from continuing operations attributable to common shareowners (1) (32) 22 (4) 31 Diluted earnings per share from continuing operations attributable to common shareholders (1) $ (0.02) $ 0.01 $ — $ 0.02 (1) Amounts reflect a U.S. statutory tax rate of 21%, which approximates our tax rate on our EAC adjustments.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Schedule of Receivables, Net	Accounts receivable, net consisted of the following: (dollars in millions) June 30, 2022 December 31, 2021 Accounts receivable $ 10,897 $ 10,136 Allowance for expected credit losses (503) (475) Total accounts receivable, net $ 10,394 $ 9,661

Contract Assets and Liabiliti_2

Contract Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	Total contract assets and contract liabilities were as follows: (dollars in millions) June 30, 2022 December 31, 2021 Contract assets $ 11,836 $ 11,361 Contract liabilities (13,430) (13,720) Net contract liabilities $ (1,594) $ (2,359)

Inventory, Net (Tables)

Inventory, Net (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	(dollars in millions) June 30, 2022 December 31, 2021 Raw materials $ 3,210 $ 3,024 Work-in-process 3,628 3,085 Finished goods 3,304 3,069 Total inventory, net $ 10,142 $ 9,178

Borrowings and Lines of Credit

Borrowings and Lines of Credit (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long Term Debt Repayments	We made the following repayments of long-term debt during the six months ended June 30, 2021: Repayment Date Description of Notes Aggregate Principal Balance (in millions) March 1, 2021 8.750% notes due 2021 $ 250
Schedule of Long-term Debt	Long-term debt consisted of the following: (dollars in millions) June 30, 2022 December 31, 2021 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) 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) 382 382 7.100% notes due 2027 135 135 6.700% notes due 2028 285 285 7.000% notes due 2028 (1) 185 185 4.125% notes due 2028 (1) 3,000 3,000 7.500% notes due 2029 (1) 414 414 2.150% notes due 2030 (€500 million principal value) (1) 526 565 2.250% notes due 2030 (1) 1,000 1,000 1.900% notes due 2031 (1) 1,000 1,000 2.375% notes due 2032 (1) 1,000 1,000 5.400% notes due 2035 (1) 446 446 6.050% notes due 2036 (1) 410 410 6.800% notes due 2036 (1) 117 117 7.000% notes due 2038 148 148 6.125% notes due 2038 (1) 575 575 4.450% notes due 2038 (1) 750 750 5.700% notes due 2040 (1) 553 553 4.875% notes due 2040 (1) 600 600 4.700% notes due 2041 (1) 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) 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 1,000 3.030% notes due 2052 (1) 1,100 1,100 Other (including finance leases) 263 270 Total principal long-term debt 31,254 31,300 Other (fair value adjustments, (discounts)/premiums, and debt issuance costs) 46 51 Total long-term debt 31,300 31,351 Less: current portion 26 24 Long-term debt, net of current portion $ 31,274 $ 31,327 (1) We may redeem these notes, in whole or in part, at our option pursuant to their terms prior to the applicable maturity date.

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of contributions to plans	Contributions to our plans were as follows: Quarter Ended June 30, Six Months Ended June 30, (dollars in millions) 2022 2021 2022 2021 U.S. qualified defined benefit plans $ — $ — $ — $ — International defined benefit plans 18 14 30 21 PRB plans 4 4 9 4 Defined contribution plans 251 238 562 509
Schedule of Amounts Recognized in Balance Sheet	The amounts recognized in the Condensed Consolidated Balance Sheet consist of: (dollars in millions) June 30, 2022 December 31, 2021 Noncurrent pension assets (included in Other assets) $ 3,869 $ 3,214 Current pension and PRB liabilities (included in Accrued employee compensation) 309 310 Future pension and postretirement benefit obligations 7,543 7,855 The amounts recognized in Future pension and postretirement benefit obligations consist of: (dollars in millions) June 30, 2022 December 31, 2021 Noncurrent pension liabilities $ 6,596 $ 6,873 Noncurrent PRB liabilities 876 903 Other pension and PRB related items 71 79 Future pension and postretirement benefit obligations $ 7,543 $ 7,855
Schedule of Net Benefit Costs	The components of net periodic benefit (income) expense for our defined pension and PRB plans were as follows: Pension Benefits Quarter Ended June 30, PRB Quarter Ended June 30, (dollars in millions) 2022 2021 2022 2021 Operating expense Service cost $ 118 $ 131 $ 2 $ 2 Non-operating expense Interest cost 380 313 7 6 Expected return on plan assets (888) (871) (6) (5) Amortization of prior service credit (41) (42) — (1) Recognized actuarial net loss (gain) 77 109 (3) (2) Net settlement, curtailment and special termination benefit (gain) loss — 3 — — Non-service pension income (472) (488) (2) (2) Total net periodic benefit (income) expense $ (354) $ (357) $ — $ — Pension Benefits Six Months Ended June 30, PRB Six Months Ended June 30, (dollars in millions) 2022 2021 2022 2021 Operating expense Service cost $ 236 $ 262 $ 4 $ 4 Non-operating expense Interest cost 762 625 14 12 Expected return on plan assets (1,778) (1,739) (11) (10) Amortization of prior service credit (83) (84) — (2) Recognized actuarial net loss (gain) 154 218 (6) (4) Net settlement, curtailment and special termination benefit (gain) loss (6) 3 — — Non-service pension income (951) (977) (3) (4) Total net periodic benefit (income) expense $ (715) $ (715) $ 1 $ —
Marketable Securities	The fair value of marketable securities held in trusts was as follows: (dollars in millions) June 30, 2022 December 31, 2021 Marketable securities held in trusts $ 788 $ 965

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table summarizes the fair value and presentation in the Condensed Consolidated Balance Sheet for derivative instruments: (dollars in millions) Balance Sheet Location June 30, 2022 December 31, 2021 Derivatives designated as hedging instruments: Foreign exchange contracts Other assets, current $ 44 $ 59 Other accrued liabilities 344 202 Derivatives not designated as hedging instruments: Foreign exchange contracts Other assets, current $ 14 $ 11 Other accrued liabilities 23 11

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The following tables provide the valuation hierarchy classification of assets and liabilities that are carried at fair value and measured on a recurring basis in our Condensed Consolidated Balance Sheet: June 30, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurements: Marketable securities held in trusts $ 788 $ 725 $ 63 $ — Derivative assets 58 — 58 — Derivative liabilities 367 — 367 — December 31, 2021 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurements: Marketable securities held in trusts $ 965 $ 890 $ 75 $ — Derivative assets 70 — 70 — Derivative liabilities 213 — 213 —
Fair Value, by Balance Sheet Grouping	The following table provides carrying amounts and fair values of financial instruments that are not carried at fair value in our Condensed Consolidated Balance Sheet: June 30, 2022 December 31, 2021 (dollars in millions) Carrying Fair Carrying Fair Customer financing notes receivable $ 198 $ 187 $ 195 $ 192 Long-term debt (excluding finance leases) 31,204 29,505 31,250 35,828 The following tables provides the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Condensed Consolidated Balance Sheet: June 30, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Customer financing notes receivable $ 187 $ — $ 187 $ — Long-term debt (excluding finance leases) 29,505 — 29,457 48 December 31, 2021 (dollars in millions) Total Level 1 Level 2 Level 3 Customer financing notes receivable $ 192 $ — $ 192 $ — Long-term debt (excluding finance leases) 35,828 — 35,778 50

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The carrying amounts and classification of assets and liabilities for variable interest entities in our Condensed Consolidated Balance Sheet are as follows: (dollars in millions) June 30, 2022 December 31, 2021 Current assets $ 8,130 $ 7,081 Noncurrent assets 795 825 Total assets $ 8,925 $ 7,906 Current liabilities $ 9,185 $ 7,965 Noncurrent liabilities 22 54 Total liabilities $ 9,207 $ 8,019

Guarantees (Tables)

Guarantees (Tables)	6 Months Ended
	Jun. 30, 2022
Service and Product Warranties and Product Performance Guarantees [Abstract]
Schedule of guarantees	As of June 30, 2022 and December 31, 2021, the following financial guarantees were outstanding: June 30, 2022 December 31, 2021 (dollars in millions) Maximum Potential Payment Carrying Amount of Liability Maximum Potential Payment Carrying Amount of Liability Commercial aerospace financing arrangements $ 304 $ — $ 309 $ 3 Third party guarantees 486 1 511 5
Product Warranty Disclosure	The changes in the carrying amount of service and product warranties and product performance guarantees for the six months ended June 30, 2022 and 2021 were as follows: (dollars in millions) 2022 2021 Balance as of January 1 $ 1,157 $ 1,057 Warranties and performance guarantees issued 128 176 Settlements (131) (128) Other (11) (3) Balance as of June 30 $ 1,143 $ 1,102

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the quarters and six months ended June 30, 2022 and 2021 is provided below: (dollars in millions) Foreign Currency Translation Defined Benefit Pension and Postretirement Plans Unrealized Hedging Gains (Losses) Accumulated Other Comprehensive Income (Loss) Quarter Ended June 30, 2022 Balance at March 31, 2022 $ (194) $ (1,811) $ (110) $ (2,115) Other comprehensive income (loss) before reclassifications, net (708) 14 (199) (893) Amounts reclassified, pre-tax — 33 17 50 Tax benefit (expense) (6) (8) 41 27 Balance at June 30, 2022 $ (908) $ (1,772) $ (251) $ (2,931) Six Months Ended June 30, 2022 Balance at December 31, 2021 $ 49 $ (1,828) $ (136) $ (1,915) Other comprehensive income (loss) before reclassifications, net (950) 3 (168) (1,115) Amounts reclassified, pre-tax 2 65 23 90 Tax benefit (expense) (9) (12) 30 9 Balance at June 30, 2022 $ (908) $ (1,772) $ (251) $ (2,931) (dollars in millions) Foreign Currency Translation Defined Benefit Pension and Postretirement Plans Unrealized Hedging Gains (Losses) Accumulated Other Comprehensive Income (Loss) Quarter Ended June 30, 2021 Balance at March 31, 2021 $ 529 $ (4,441) $ (9) $ (3,921) Other comprehensive income (loss) before reclassifications, net 258 (14) 108 352 Amounts reclassified, pre-tax — 64 (20) 44 Tax benefit (expense) 2 (11) (21) (30) Balance at June 30, 2021 $ 789 $ (4,402) $ 58 $ (3,555) Six Months Ended June 30, 2021 Balance at December 31, 2020 $ 710 $ (4,483) $ 39 $ (3,734) Other comprehensive income (loss) before reclassifications, net 82 (24) 62 120 Amounts reclassified, pre-tax — 128 (34) 94 Tax benefit (expense) (3) (23) (9) (35) Balance at June 30, 2021 $ 789 $ (4,402) $ 58 $ (3,555)

Segment Financial Data (Tables)

Segment Financial Data (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Results for the quarters ended June 30, 2022 and 2021 are as follows: Net Sales Operating Profit Operating Profit Margins (dollars in millions) 2022 2021 2022 2021 2022 2021 Collins Aerospace Systems $ 5,011 $ 4,545 $ 546 $ 506 10.9 % 11.1 % Pratt & Whitney 4,969 4,280 302 112 6.1 % 2.6 % Raytheon Intelligence & Space 3,570 3,805 315 415 8.8 % 10.9 % Raytheon Missiles & Defense 3,558 3,985 348 532 9.8 % 13.4 % Total segment 17,108 16,615 1,511 1,565 8.8 % 9.4 % Eliminations and other (1) (794) (735) (47) (40) Corporate expenses and other unallocated items (2) — — (42) (149) FAS/CAS operating adjustment — — 379 425 Acquisition accounting adjustments — — (448) (519) Consolidated $ 16,314 $ 15,880 $ 1,353 $ 1,282 8.3 % 8.1 % (1) Includes the operating results of certain smaller non-reportable business segments. (2) Includes the net expenses related to the U.S. Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) project. Results for the six months ended June 30, 2022 and 2021 are as follows: Net Sales Operating Profit Operating Profit Margins (dollars in millions) 2022 2021 2022 2021 2022 2021 Collins Aerospace Systems $ 9,835 $ 8,915 $ 986 $ 820 10.0 % 9.2 % Pratt & Whitney 9,498 8,310 453 132 4.8 % 1.6 % Raytheon Intelligence & Space 7,142 7,570 693 803 9.7 % 10.6 % Raytheon Missiles & Defense 7,085 7,778 735 1,028 10.4 % 13.2 % Total segment 33,560 32,573 2,867 2,783 8.5 % 8.5 % Eliminations and other (1) (1,530) (1,442) (81) (71) Corporate expenses and other unallocated items (2) — — (178) (230) FAS/CAS operating adjustment — — 757 848 Acquisition accounting adjustments — — (932) (1,035) Consolidated $ 32,030 $ 31,131 $ 2,433 $ 2,295 7.6 % 7.4 % (1) Includes the operating results of certain smaller non-reportable business segments. (2) Includes the net expenses related to the U.S. Army’s LTAMDS project.
Disaggregation of Revenue	Segment sales disaggregated by geographic region for the quarters ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total United States $ 2,458 $ 2,562 $ 2,852 $ 2,313 $ — $ 10,185 $ 2,323 $ 2,139 $ 3,020 $ 2,385 $ 4 $ 9,871 Europe 1,270 1,057 103 248 — 2,678 1,062 807 118 325 4 2,316 Asia Pacific 455 825 190 338 — 1,808 470 971 205 356 — 2,002 Middle East and North Africa 119 112 62 576 — 869 115 85 132 835 — 1,167 Canada and All Other 305 413 38 18 — 774 203 278 26 17 — 524 Consolidated net sales 4,607 4,969 3,245 3,493 — 16,314 4,173 4,280 3,501 3,918 8 15,880 Inter-segment sales 404 — 325 65 (794) — 372 — 304 67 (743) — Business segment sales $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 $ 4,545 $ 4,280 $ 3,805 $ 3,985 $ (735) $ 15,880 Segment sales disaggregated by geographic region for the six months ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total United States $ 4,707 $ 4,874 $ 5,718 $ 4,612 $ 4 $ 19,915 $ 4,565 $ 4,298 $ 5,985 $ 4,742 $ 11 $ 19,601 Europe 2,584 1,936 210 520 — 5,250 2,141 1,433 232 652 5 4,463 Asia Pacific 952 1,698 353 662 — 3,665 875 1,764 409 726 — 3,774 Middle East and North Africa 231 190 143 1,134 — 1,698 210 189 265 1,495 — 2,159 Canada and All Other 598 800 74 30 — 1,502 420 626 55 33 — 1,134 Consolidated net sales 9,072 9,498 6,498 6,958 4 32,030 8,211 8,310 6,946 7,648 16 31,131 Inter-segment sales 763 — 644 127 (1,534) — 704 — 624 130 (1,458) — Business segment sales $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 $ 8,915 $ 8,310 $ 7,570 $ 7,778 $ (1,442) $ 31,131 Segment sales disaggregated by type of customer for the quarters ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total U.S. government (1) $ 1,023 $ 1,417 $ 2,805 $ 2,314 $ — $ 7,559 $ 1,147 $ 1,191 $ 2,944 $ 2,384 $ 4 $ 7,670 Foreign military sales through the U.S. government 53 304 149 675 — 1,181 25 397 209 866 — 1,497 Foreign government direct commercial sales 263 116 212 504 — 1,095 301 127 217 668 — 1,313 Commercial aerospace and other commercial 3,268 3,132 79 — — 6,479 2,700 2,565 131 — 4 5,400 Consolidated net sales 4,607 4,969 3,245 3,493 — 16,314 4,173 4,280 3,501 3,918 8 15,880 Inter-segment sales 404 — 325 65 (794) — 372 — 304 67 (743) — Business segment sales $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 $ 4,545 $ 4,280 $ 3,805 $ 3,985 $ (735) $ 15,880 (1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by type of customer for the six months ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total U.S. government (1) $ 2,074 $ 2,591 $ 5,617 $ 4,611 $ 4 $ 14,897 $ 2,369 $ 2,453 $ 5,844 $ 4,741 $ 11 $ 15,418 Foreign military sales through the U.S. government 107 501 309 1,440 — 2,357 65 639 417 1,671 — 2,792 Foreign government direct commercial sales 514 219 416 905 — 2,054 546 266 446 1,235 — 2,493 Commercial aerospace and other commercial 6,377 6,187 156 2 — 12,722 5,231 4,952 239 1 5 10,428 Consolidated net sales 9,072 9,498 6,498 6,958 4 32,030 8,211 8,310 6,946 7,648 16 31,131 Inter-segment sales 763 — 644 127 (1,534) — 704 — 624 130 (1,458) — Business segment sales $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 $ 8,915 $ 8,310 $ 7,570 $ 7,778 $ (1,442) $ 31,131 (1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by sales type for the quarters ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Products $ 3,577 $ 2,982 $ 2,564 $ 3,135 $ — $ 12,258 $ 3,349 $ 2,582 $ 2,675 $ 3,565 $ 8 $ 12,179 Services 1,030 1,987 681 358 — 4,056 824 1,698 826 353 — 3,701 Consolidated net sales 4,607 4,969 3,245 3,493 — 16,314 4,173 4,280 3,501 3,918 8 15,880 Inter-segment sales 404 — 325 65 (794) — 372 — 304 67 (743) — Business segment sales $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 $ 4,545 $ 4,280 $ 3,805 $ 3,985 $ (735) $ 15,880 Segment sales disaggregated by sales type for the six months ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Systems Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Products $ 7,059 $ 5,615 $ 5,168 $ 6,274 $ 4 $ 24,120 $ 6,531 $ 5,005 $ 5,351 $ 6,940 $ 16 $ 23,843 Services 2,013 3,883 1,330 684 — 7,910 1,680 3,305 1,595 708 — 7,288 Consolidated net sales 9,072 9,498 6,498 6,958 4 32,030 8,211 8,310 6,946 7,648 16 31,131 Inter-segment sales 763 — 644 127 (1,534) — 704 — 624 130 (1,458) — Business segment sales $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 $ 8,915 $ 8,310 $ 7,570 $ 7,778 $ (1,442) $ 31,131 RIS and RMD segment sales disaggregated by contract type for the quarters ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Raytheon Intelligence & Space Raytheon Missiles & Defense Raytheon Intelligence & Space Raytheon Missiles & Defense Fixed-price $ 1,353 $ 2,043 $ 1,556 $ 2,402 Cost-type 1,892 1,450 1,945 1,516 Consolidated net sales 3,245 3,493 3,501 3,918 Inter-segment sales 325 65 304 67 Business segment sales $ 3,570 $ 3,558 $ 3,805 $ 3,985 RIS and RMD segment sales disaggregated by contract type for the six months ended June 30, 2022 and 2021 are as follows: 2022 2021 (dollars in millions) Raytheon Intelligence & Space Raytheon Missiles & Defense Raytheon Intelligence & Space Raytheon Missiles & Defense Fixed-price $ 2,693 $ 4,118 $ 3,027 $ 4,653 Cost-type 3,805 2,840 3,919 2,995 Consolidated net sales 6,498 6,958 6,946 7,648 Inter-segments sales 644 127 624 130 Business segment sales $ 7,142 $ 7,085 $ 7,570 $ 7,778

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
Russia Sanctions Impact on Pratt & Whitney and Collins
Basis of Presentation [Line Items]
Charges as a Result of Russia Sanctions and Export Controls, Gross	$ 290
Charges as a Result of Russia Sanctions and Export Controls, Net of Tax	210
RPO Related to Our Sales Contracts in Russia
Basis of Presentation [Line Items]
Remaining Performance Obligation (RPO), Reversal	$ 1,300

Acquisitions, Dispositions, G_3

Acquisitions, Dispositions, Goodwill and Intangible Assets (General Information) (Details) - USD ($) $ in Millions		6 Months Ended
	Jan. 08, 2021	Jun. 30, 2022	Jun. 30, 2021
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses and Interests in Affiliates		$ 88	$ 1,074
Forcepoint
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses and Interests in Affiliates	$ 1,100

Acquisition, Dispositions, Good

Acquisition, Dispositions, Goodwill and Intangible Assets (Goodwill) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Line Items]
Goodwill - Beginning Balance	$ 54,436
Goodwill - Acquisitions and Divestitures	(13)
Goodwill - Foreign Currency Translation and Other	(617)
Goodwill - Ending Balance	53,806
Collins Aerospace Systems [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	31,384
Goodwill - Acquisitions and Divestitures	(36)
Goodwill - Foreign Currency Translation and Other	(614)
Goodwill - Ending Balance	30,734
Pratt & Whitney [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	1,563
Goodwill - Acquisitions and Divestitures	0
Goodwill - Foreign Currency Translation and Other	0
Goodwill - Ending Balance	1,563
Raytheon Intelligence & Space [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	9,813
Goodwill - Acquisitions and Divestitures	23
Goodwill - Foreign Currency Translation and Other	(1)
Goodwill - Ending Balance	9,835
Raytheon Missiles & Defense
Goodwill [Line Items]
Goodwill - Beginning Balance	11,659
Goodwill - Acquisitions and Divestitures	0
Goodwill - Foreign Currency Translation and Other	(2)
Goodwill - Ending Balance	11,657
Total Segments [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	54,419
Goodwill - Acquisitions and Divestitures	(13)
Goodwill - Foreign Currency Translation and Other	(617)
Goodwill - Ending Balance	53,789
Eliminations and other [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	17
Goodwill - Acquisitions and Divestitures	0
Goodwill - Foreign Currency Translation and Other	0
Goodwill - Ending Balance	$ 17

Acquisitions, Dispositions, G_4

Acquisitions, Dispositions, Goodwill and Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 39,178	$ 39,188
Accumulated Amortization	(10,263)	(9,368)
Unamortized: Trademarks and Other	8,647	8,696
Total Intangible Assets Gross Excluding Goodwill	47,825	47,884
Collaboration assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	5,414	5,319
Accumulated Amortization	(1,265)	(1,173)
Exclusivity assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	2,772	2,673
Accumulated Amortization	(324)	(318)
Developed technology and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1,194	1,214
Accumulated Amortization	(506)	(466)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	29,798	29,982
Accumulated Amortization	$ (8,168)	$ (7,411)

Acquisitions, Dispositions, G_5

Acquisitions, Dispositions, Goodwill and Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Amortization of Intangible Assets	$ 467	$ 602	$ 954	$ 1,198
Amortization Expense, Remaining 2022	1,008		1,008
Amortization Expense, 2023	2,096		2,096
Amortization Expense, 2024	2,219		2,219
Amortization Expense, 2025	2,101		2,101
Amortization Expense, 2026	2,013		2,013
Amortization Expense, 2027	$ 1,860		$ 1,860

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income attributable to common shareowners:
Income from continuing operations attributable to common shareowners	$ 1,304	$ 1,040	$ 2,407	$ 1,812
Loss from discontinued operations attributable to common shareowners	0	(8)	(19)	(27)
Net income attributable to common shareowners	$ 1,304	$ 1,032	$ 2,388	$ 1,785
Basic weighted average number of shares outstanding	1,479.2	1,506.4	1,482.9	1,508.7
Stock awards and equity units (share equivalent)	10.4	7.1	10.8	5
Diluted weighted average number of shares outstanding	1,489.6	1,513.5	1,493.7	1,513.7
Earnings (loss) Per Share attributable to common shareowners - Basic:
Income from continuing operations	$ 0.88	$ 0.69	$ 1.62	$ 1.20
Loss from discontinued operations	0	0	(0.01)	(0.02)
Earnings Per Share, Basic	0.88	0.69	1.61	1.18
Earnings (loss) Per Share attributable to common shareowners - Diluted:
Income from continuing operations	0.88	0.69	1.61	1.20
Loss from discontinued operations	0	(0.01)	(0.01)	(0.02)
Earnings Per Share, Diluted	$ 0.88	$ 0.68	$ 1.60	$ 1.18
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3.4	11.2	5.4	19

Changes in Contract Estimates_3

Changes in Contract Estimates at Completion (Schedule of Change in Accounting Estimate) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Change in Accounting Estimate [Line Items]
Total Net Sales	$ (19)	$ 73	$ 78	$ 125
Operating profit	1,353	1,282	2,433	2,295
Income from continuing operations attributable to common shareowners	$ 1,304	$ 1,040	$ 2,407	$ 1,812
Diluted earnings per share from continuing operations attributable to common shareholders (1)	$ 0.88	$ 0.69	$ 1.61	$ 1.20
Contracts Accounted for under Percentage of Completion [Member]
Change in Accounting Estimate [Line Items]
Operating profit	$ (41)	$ 27	$ (5)	$ 39
Income from continuing operations attributable to common shareowners	$ (32)	$ 22	$ (4)	$ 31
Diluted earnings per share from continuing operations attributable to common shareholders (1)	$ (0.02)	$ 0.01	$ 0	$ 0.02

Accounts Receivable, Net (Sched

Accounts Receivable, Net (Schedule of Receivables, Net) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable	$ 10,897	$ 10,136
Allowance for expected credit losses	(503)	(475)
Total accounts receivable, net	$ 10,394	$ 9,661

Contract Asset and Liability (D

Contract Asset and Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue from contract with customer [Line Items]
Contract assets	$ 11,836		$ 11,836		$ 11,361
Contract liabilities	(13,430)		(13,430)		(13,720)
Net contract liabilities	(1,594)		(1,594)		(2,359)
Contract with Customer, Asset, Change			475
Contract with Customer, Liability, Change			290
Contract with Customer, Liability, Revenue Recognized	1,200	$ 1,000	3,000	$ 2,700
Advances received to date on contracts related to precision guided munitions to certain Middle Eastern customers pending U.S. government approval	380		380
Contract with Customer, Asset, Allowance for Credit Loss	$ 318		$ 318		$ 251

Inventory, Net (Details)

Inventory, Net (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 3,210	$ 3,024
Work-in-process	3,628	3,085
Finished goods	3,304	3,069
Inventory, net	$ 10,142	$ 9,178

Borrowing and Lines of Credit (

Borrowing and Lines of Credit (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Line of Credit Facility [Line Items]
Maximum Commercial Paper Borrowing Authority	$ 5,000
Commercial paper	0		$ 0
Aggregate Line of Credit Agreements, Maximum Borrowing Capacity	7,000
Borrowings outstanding	0
Proceeds from Issuance of Debt	$ 0	$ 0
Average Years of Maturity of Long Term Debt	15 years
5.0B Revolving Credit Agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000
$2.0B May revolving credit agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,000

Borrowings and Lines of Credi_2

Borrowings and Lines of Credit (Long-Term Debt) (Details) € in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Other (including finance leases)	$ 263			$ 270
Long-term Debt, Gross	31,254			31,300
Other (fair value adjustments, (discounts)/premiums, and debt issuance costs)	46			51
Total long-term debt	31,300			31,351
Less: current portion	26			24
Long-term debt, net of current portion	$ 31,274			31,327
Notes 8.750% Due 2021
Debt Instrument [Line Items]
Repayments of Debt		$ 250
Debt Instrument, Interest Rate, Stated Percentage		8.75%
Debt Instrument, Maturity Date, Description		2021
Notes 3.650% Due 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.65%		3.65%
Debt Instrument, Maturity Date, Description	2023
Long-term Debt, Gross	$ 171			171
Notes 3.700% Due 2023
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.70%		3.70%
Debt Instrument, Maturity Date, Description	2023
Long-term Debt, Gross	$ 400			400
Notes 3.200% Due 2024
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.20%		3.20%
Debt Instrument, Maturity Date, Description	2024
Long-term Debt, Gross	$ 950			950
Notes 3.150% Due 2024
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.15%		3.15%
Debt Instrument, Maturity Date, Description	2024
Long-term Debt, Gross	$ 300			300
Notes 3.950% Due 2025
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.95%		3.95%
Debt Instrument, Maturity Date, Description	2025
Long-term Debt, Gross	$ 1,500			1,500
Notes 2.650% Due 2026
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.65%		2.65%
Debt Instrument, Maturity Date, Description	2026
Long-term Debt, Gross	$ 719			719
Notes 3.125% Due 2027
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.125%		3.125%
Debt Instrument, Maturity Date, Description	2027
Long-term Debt, Gross	$ 1,100			1,100
Notes 3.500% Due 2027
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.50%		3.50%
Debt Instrument, Maturity Date, Description	2027
Long-term Debt, Gross	$ 1,300			1,300
Notes 7.200% Due 2027
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.20%		7.20%
Debt Instrument, Maturity Date, Description	2027
Long-term Debt, Gross	$ 382			382
Notes 7.100% Due 2027
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.10%		7.10%
Debt Instrument, Maturity Date, Description	2027
Long-term Debt, Gross	$ 135			135
Notes 6.700% Due 2028
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.70%		6.70%
Debt Instrument, Maturity Date, Description	2028
Long-term Debt, Gross	$ 285			285
Notes 7.000% Due 2028
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7%		7%
Debt Instrument, Maturity Date, Description	2028
Long-term Debt, Gross	$ 185			185
Notes 4.125% Due 2028
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.125%		4.125%
Debt Instrument, Maturity Date, Description	2028
Long-term Debt, Gross	$ 3,000			3,000
Notes 7.500% Due 2029
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.50%		7.50%
Debt Instrument, Maturity Date, Description	2029
Long-term Debt, Gross	$ 414			414
Notes 2.150% Due 2030
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.15%		2.15%
Debt Instrument, Maturity Date, Description	2030
Debt Instrument, Face Amount | €			€ 500
Long-term Debt, Gross	$ 526			565
Notes 2.250% Due 2030
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.25%		2.25%
Debt Instrument, Maturity Date, Description	2030
Long-term Debt, Gross	$ 1,000			1,000
Notes 1.900% due 2031
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.90%		1.90%
Debt Instrument, Maturity Date, Description	2031
Long-term Debt, Gross	$ 1,000			1,000
Notes 2.375% Due 2032
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.375%		2.375%
Debt Instrument, Maturity Date, Description	2032
Long-term Debt, Gross	$ 1,000			1,000
Notes 5.400% Due 2035
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.40%		5.40%
Debt Instrument, Maturity Date, Description	2035
Long-term Debt, Gross	$ 446			446
Notes 6.050% Due 2036
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.05%		6.05%
Debt Instrument, Maturity Date, Description	2036
Long-term Debt, Gross	$ 410			410
Notes 6.800% Due 2036
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.80%		6.80%
Debt Instrument, Maturity Date, Description	2036
Long-term Debt, Gross	$ 117			117
Notes 7.000% Due 2038
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7%		7%
Debt Instrument, Maturity Date, Description	2038
Long-term Debt, Gross	$ 148			148
Notes 6.125% Due 2038
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.125%		6.125%
Debt Instrument, Maturity Date, Description	2038
Long-term Debt, Gross	$ 575			575
Notes 4.450% Due 2038
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.45%		4.45%
Debt Instrument, Maturity Date, Description	2038
Long-term Debt, Gross	$ 750			750
Notes 5.700% Due 2040
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.70%		5.70%
Debt Instrument, Maturity Date, Description	2040
Long-term Debt, Gross	$ 553			553
Notes 4.875% Due 2040
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.875%		4.875%
Debt Instrument, Maturity Date, Description	2040
Long-term Debt, Gross	$ 600			600
Notes 4.700% Due 2041
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.70%		4.70%
Debt Instrument, Maturity Date, Description	2041
Long-term Debt, Gross	$ 425			425
Notes 4.500% Due 2042
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.50%		4.50%
Debt Instrument, Maturity Date, Description	2042
Long-term Debt, Gross	$ 3,500			3,500
Notes 4.800% Due 2043
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.80%		4.80%
Debt Instrument, Maturity Date, Description	2043
Long-term Debt, Gross	$ 400			400
Notes 4.200% Due 2044
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.20%		4.20%
Debt Instrument, Maturity Date, Description	2044
Long-term Debt, Gross	$ 300			300
Notes 4.150% Due 2045
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.15%		4.15%
Debt Instrument, Maturity Date, Description	2045
Long-term Debt, Gross	$ 850			850
Notes 3.750% Due 2046
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.75%		3.75%
Debt Instrument, Maturity Date, Description	2046
Long-term Debt, Gross	$ 1,100			1,100
Notes 4.050% Due 2047
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.05%		4.05%
Debt Instrument, Maturity Date, Description	2047
Long-term Debt, Gross	$ 600			600
Notes 4.350% Due 2047
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.35%		4.35%
Debt Instrument, Maturity Date, Description	2047
Long-term Debt, Gross	$ 1,000			1,000
Notes 4.625% Due 2048
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.625%		4.625%
Debt Instrument, Maturity Date, Description	2048
Long-term Debt, Gross	$ 1,750			1,750
Notes 3.125% Due 2050
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.125%		3.125%
Debt Instrument, Maturity Date, Description	2050
Long-term Debt, Gross	$ 1,000			1,000
Notes 2.820% due 2051
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.82%		2.82%
Debt Instrument, Maturity Date, Description	2051
Long-term Debt, Gross	$ 1,000			1,000
Notes 3.030% Due 2052
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.03%		3.03%
Debt Instrument, Maturity Date, Description	2052
Long-term Debt, Gross	$ 1,100			$ 1,100

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
PRB plans	$ 4	$ 4	$ 9	$ 4
Defined contribution plans	251	238	562	509
Liability, Defined Benefit Plan, Current	309		309		$ 310
Liability, Defined Benefit Pension Plan, Noncurrent	7,543		7,543		7,855
Non-service pension income	(474)	(490)	(954)	(981)
Total net periodic benefit (income) expense			(714)	(715)
Marketable securities held in trusts	788		788		965
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plans	18	14	30	21
UNITED STATES
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plans	0	0	0	0
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets for Plan Benefits, Defined Benefit Plan	3,869		3,869		3,214
Liability, Defined Benefit Pension Plan, Noncurrent	6,596		6,596		6,873
Service cost	118	131	236	262
Interest cost	380	313	762	625
Expected return on plan assets	(888)	(871)	(1,778)	(1,739)
Amortization of prior service credit	(41)	(42)	(83)	(84)
Recognized actuarial net loss (gain)	77	109	154	218
Net settlement, curtailment and special termination benefit (gain) loss	0	3	(6)	3
Non-service pension income	(472)	(488)	(951)	(977)
Total net periodic benefit (income) expense	(354)	(357)	(715)	(715)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability, Defined Benefit Pension Plan, Noncurrent	876		876		903
Service cost	2	2	4	4
Interest cost	7	6	14	12
Expected return on plan assets	(6)	(5)	(11)	(10)
Amortization of prior service credit	0	(1)	0	(2)
Recognized actuarial net loss (gain)	(3)	(2)	(6)	(4)
Net settlement, curtailment and special termination benefit (gain) loss	0	0	0	0
Non-service pension income	(2)	(2)	(3)	(4)
Total net periodic benefit (income) expense	0	$ 0	1	$ 0
Other pension and PRB related items
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability, Defined Benefit Pension Plan, Noncurrent	$ 71		$ 71		$ 79

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective Tax Rate	10.70%		23.90%	10.10%	26.50%
Incremental Percentage Points Related to Foreign Derived Intangible Income (FDII) and Capitalization of R&D, Benefit	4%			5%
Effective Income Tax Rate Reconciliation, Change in U.K. Enacted Tax Rate, Amount			$ 73		$ 73
Forcepoint
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective Income Tax Rate Reconciliation, Disposition of Business, Expense (Benefit), Amount					$ 148
Raytheon Intelligence & Space global training and services business
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective Income Tax Rate Reconciliation, Disposition of Business, Expense (Benefit), Amount		$ (104)
Minimum [Member]
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Decrease in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change	$ 20			$ 20
Maximum [Member]
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Decrease in Unrecognized Tax Benefits is Reasonably Possible, Estimated Range of Change	$ 400			$ 400

Financial Instruments (Details)

Financial Instruments (Details) € in Millions, $ in Millions	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		$ 10,000	$ 8,500
Notes 2.150% Due 2030
Derivatives, Fair Value [Line Items]
Long-term debt, euro-denominated | €	€ 500
Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivatives designated as hedging instruments, Asset Derivatives		44	59
Derivatives not designated as hedging instruments, Asset Derivatives		14	11
Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivatives designated as hedging instruments, Liability Derivatives		344	202
Derivatives not designated as hedging instruments, Liability Derivatives		$ 23	$ 11

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Hierarchy Classification) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Portion at Other than Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Customer financing notes receivable	$ 198	$ 195
Long-term debt (excluding finance leases)	31,204	31,250
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	788	965
Derivative assets	58	70
Derivative liabilities	367	213
Customer financing notes receivable	187	192
Long-term debt (excluding finance leases)	29,505	35,828
Marketable securities held in trusts	788	965
Fair Value Level 1 [Member] | Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	725	890
Derivative assets	0	0
Derivative liabilities	0	0
Customer financing notes receivable	0	0
Long-term debt (excluding finance leases)	0	0
Fair Value Level 2 [Member] | Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	63	75
Derivative assets	58	70
Derivative liabilities	367	213
Customer financing notes receivable	187	192
Long-term debt (excluding finance leases)	29,457	35,778
Fair Value Level 3 [Member] | Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	0	0
Derivative assets	0	0
Derivative liabilities	0	0
Customer financing notes receivable	0	0
Long-term debt (excluding finance leases)	$ 48	$ 50

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Assets, Current	$ 41,462	$ 42,050
Assets	159,017	161,404
Liabilities, Current	37,788	35,449
Total Liabilities	86,989	86,705
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets, Current	8,130	7,081
Assets, Noncurrent	795	825
Assets	8,925	7,906
Liabilities, Current	9,185	7,965
Liabilities, Noncurrent	22	54
Total Liabilities	$ 9,207	$ 8,019
International Aero Engines AG [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Qualitative of Quantitative Information, Net Percentage	61%
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	49.50%
International Aero Engines LLC [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Qualitative of Quantitative Information, Net Percentage	59%
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	59%

Guarantees (Details)

Guarantees (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Product Warranty Liability [Line Items]
Balance as of January 1	$ 1,157	$ 1,057
Warranties and performance guarantees issued	128	176
Settlements made	(131)	(128)
Other	(11)	(3)
Balance as of June 30	1,143	$ 1,102
Commercial Aerospace Financing Arrangements
Product Warranty Liability [Line Items]
Maximum Potential Payment	304		$ 309
Carrying Amount of Liability	0		3
Third Party Guarantees
Product Warranty Liability [Line Items]
Maximum Potential Payment	486		511
Carrying Amount of Liability	1		5
Commercial Aerospace [Member]
Product Warranty Liability [Line Items]
Partner Share of Guarantor Obligations, Maximum Exposure, Undiscounted	140		141
Guarantee Type, Other
Product Warranty Liability [Line Items]
Carrying Amount of Liability	$ 110		$ 120

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	$ 824	$ 834
Other Commitment	11,700
Commercial Aerospace [Member]
Loss Contingencies [Line Items]
Financing and other contractual commitments	15,400	$ 15,600
Other Financing Arrangements [Member]
Loss Contingencies [Line Items]
Other Commitment	3,400
2019 U.S. Defense Contract Management Agency Claim Against Pratt & Whitney [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	1,730
Loss Contingency, Interest	773
2013 U.S. Defense Contract Management Agency Claim Against Pratt & Whitney [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	177
Loss Contingency, Interest	124
2018 U.S. Defense Contract Management Agency Claim Against Pratt & Whitney [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	269
Loss Contingency, Interest	86
Department of Justice Claim Against Raytheon Missiles & Defense
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 290

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Summary of Changes in AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (2,931)	$ (3,555)	$ (2,931)	$ (3,555)	$ (2,115)	$ (1,915)	$ (3,921)	$ (3,734)
Other comprehensive (loss) income before reclassifications, net - Foreign Currency Translation	(708)	258	(950)	82
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment and Tax	14	(14)	3	(24)
Other comprehensive (loss) income before reclassifications, net - Unrealized Hedging Gains (Losses)	(199)	108	(168)	62
Other comprehensive (loss) income before reclassifications, net	(893)	352	(1,115)	120
Amounts reclassified, pretax - Foreign Currency Translation	0	0	2	0
Amounts reclassified, pretax - Pension	33	64	65	128
Amounts reclassified, pretax - Unrealized Hedging Gains (Losses)	17	(20)	23	(34)
Amounts reclassified, pre-tax	50	44	90	94
Tax benefit (expense) - Foreign Currency Translation	(6)	2	(9)	(3)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	(8)	(11)	(12)	(23)
Tax benefit (expense) - Unrealized Hedging Gains (Losses)	41	(21)	30	(9)
Income tax (expense) benefit related to items of other comprehensive income (loss)	27	(30)	9	(35)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(908)	789	(908)	789	(194)	49	529	710
Defined Benefit Pension and Post-retirement Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(1,772)	(4,402)	(1,772)	(4,402)	(1,811)	(1,828)	(4,441)	(4,483)
Unrealized hedging (losses) gains
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (251)	$ 58	$ (251)	$ 58	$ (110)	$ (136)	$ (9)	$ 39

Segment Financial Data (Segment

Segment Financial Data (Segment Operating Performance) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 16,314	$ 15,880	$ 32,030	$ 31,131
Operating profit	$ 1,353	$ 1,282	$ 2,433	$ 2,295
Operating Profit Margin	8.30%	8.10%	7.60%	7.40%
Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 17,108	$ 16,615	$ 33,560	$ 32,573
Operating profit	$ 1,511	$ 1,565	$ 2,867	$ 2,783
Operating Profit Margin	8.80%	9.40%	8.50%	8.50%
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	$ (794)	$ (735)	$ (1,530)	$ (1,442)
Operating profit	(47)	(40)	(81)	(71)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating profit	(42)	(149)	(178)	(230)
Collins Aerospace Systems [Member]
Segment Reporting Information [Line Items]
Revenues	5,011	4,545	9,835	8,915
Operating profit	$ 546	$ 506	$ 986	$ 820
Operating Profit Margin	10.90%	11.10%	10%	9.20%
Collins Aerospace Systems [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 4,607	$ 4,173	$ 9,072	$ 8,211
Collins Aerospace Systems [Member] | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	404	372	763	704
Pratt & Whitney [Member]
Segment Reporting Information [Line Items]
Revenues	4,969	4,280	9,498	8,310
Operating profit	$ 302	$ 112	$ 453	$ 132
Operating Profit Margin	6.10%	2.60%	4.80%	1.60%
Pratt & Whitney [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 4,969	$ 4,280	$ 9,498	$ 8,310
Pratt & Whitney [Member] | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Raytheon Intelligence & Space [Member]
Segment Reporting Information [Line Items]
Revenues	3,570	3,805	7,142	7,570
Operating profit	$ 315	$ 415	$ 693	$ 803
Operating Profit Margin	8.80%	10.90%	9.70%	10.60%
Raytheon Intelligence & Space [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 3,245	$ 3,501	$ 6,498	$ 6,946
Raytheon Intelligence & Space [Member] | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	325	304	644	624
Raytheon Missiles & Defense
Segment Reporting Information [Line Items]
Revenues	3,558	3,985	7,085	7,778
Operating profit	$ 348	$ 532	$ 735	$ 1,028
Operating Profit Margin	9.80%	13.40%	10.40%	13.20%
Raytheon Missiles & Defense | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 3,493	$ 3,918	$ 6,958	$ 7,648
Raytheon Missiles & Defense | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	65	67	127	130
FAS/CAS Operating Adjustment | Segment Reconciling Items
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating profit	379	425	757	848
Acquisition accounting adjustment member | Segment Reconciling Items
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating profit	$ (448)	$ (519)	$ (932)	$ (1,035)

Segment Financial Data (Disaggr

Segment Financial Data (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 16,314	$ 15,880	$ 32,030	$ 31,131
Product [Member]
Segment Reporting Information [Line Items]
Revenues	12,258	12,179	24,120	23,843
Service [Member]
Segment Reporting Information [Line Items]
Revenues	4,056	3,701	7,910	7,288
U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	7,559	7,670	14,897	15,418
Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	1,181	1,497	2,357	2,792
Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	1,095	1,313	2,054	2,493
Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	6,479	5,400	12,722	10,428
UNITED STATES
Segment Reporting Information [Line Items]
Revenues	10,185	9,871	19,915	19,601
Europe [Member]
Segment Reporting Information [Line Items]
Revenues	2,678	2,316	5,250	4,463
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	1,808	2,002	3,665	3,774
Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	869	1,167	1,698	2,159
Canada and All Other [Member]
Segment Reporting Information [Line Items]
Revenues	774	524	1,502	1,134
Collins Aerospace Systems [Member]
Segment Reporting Information [Line Items]
Revenues	5,011	4,545	9,835	8,915
Collins Aerospace Systems [Member] | Product [Member]
Segment Reporting Information [Line Items]
Revenues	3,577	3,349	7,059	6,531
Collins Aerospace Systems [Member] | Service [Member]
Segment Reporting Information [Line Items]
Revenues	1,030	824	2,013	1,680
Collins Aerospace Systems [Member] | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	1,023	1,147	2,074	2,369
Collins Aerospace Systems [Member] | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	53	25	107	65
Collins Aerospace Systems [Member] | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	263	301	514	546
Collins Aerospace Systems [Member] | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	3,268	2,700	6,377	5,231
Collins Aerospace Systems [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	2,458	2,323	4,707	4,565
Collins Aerospace Systems [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	1,270	1,062	2,584	2,141
Collins Aerospace Systems [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	455	470	952	875
Collins Aerospace Systems [Member] | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	119	115	231	210
Collins Aerospace Systems [Member] | Canada and All Other [Member]
Segment Reporting Information [Line Items]
Revenues	305	203	598	420
Pratt & Whitney [Member]
Segment Reporting Information [Line Items]
Revenues	4,969	4,280	9,498	8,310
Pratt & Whitney [Member] | Product [Member]
Segment Reporting Information [Line Items]
Revenues	2,982	2,582	5,615	5,005
Pratt & Whitney [Member] | Service [Member]
Segment Reporting Information [Line Items]
Revenues	1,987	1,698	3,883	3,305
Pratt & Whitney [Member] | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	1,417	1,191	2,591	2,453
Pratt & Whitney [Member] | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	304	397	501	639
Pratt & Whitney [Member] | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	116	127	219	266
Pratt & Whitney [Member] | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	3,132	2,565	6,187	4,952
Pratt & Whitney [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	2,562	2,139	4,874	4,298
Pratt & Whitney [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	1,057	807	1,936	1,433
Pratt & Whitney [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	825	971	1,698	1,764
Pratt & Whitney [Member] | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	112	85	190	189
Pratt & Whitney [Member] | Canada and All Other [Member]
Segment Reporting Information [Line Items]
Revenues	413	278	800	626
Raytheon Intelligence & Space [Member]
Segment Reporting Information [Line Items]
Revenues	3,570	3,805	7,142	7,570
Raytheon Intelligence & Space [Member] | Fixed-price Contract
Segment Reporting Information [Line Items]
Revenues	1,353	1,556	2,693	3,027
Raytheon Intelligence & Space [Member] | Cost-type Contract
Segment Reporting Information [Line Items]
Revenues	1,892	1,945	3,805	3,919
Raytheon Intelligence & Space [Member] | Product [Member]
Segment Reporting Information [Line Items]
Revenues	2,564	2,675	5,168	5,351
Raytheon Intelligence & Space [Member] | Service [Member]
Segment Reporting Information [Line Items]
Revenues	681	826	1,330	1,595
Raytheon Intelligence & Space [Member] | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	2,805	2,944	5,617	5,844
Raytheon Intelligence & Space [Member] | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	149	209	309	417
Raytheon Intelligence & Space [Member] | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	212	217	416	446
Raytheon Intelligence & Space [Member] | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	79	131	156	239
Raytheon Intelligence & Space [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	2,852	3,020	5,718	5,985
Raytheon Intelligence & Space [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	103	118	210	232
Raytheon Intelligence & Space [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	190	205	353	409
Raytheon Intelligence & Space [Member] | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	62	132	143	265
Raytheon Intelligence & Space [Member] | Canada and All Other [Member]
Segment Reporting Information [Line Items]
Revenues	38	26	74	55
Raytheon Missiles & Defense
Segment Reporting Information [Line Items]
Revenues	3,558	3,985	7,085	7,778
Raytheon Missiles & Defense | Fixed-price Contract
Segment Reporting Information [Line Items]
Revenues	2,043	2,402	4,118	4,653
Raytheon Missiles & Defense | Cost-type Contract
Segment Reporting Information [Line Items]
Revenues	1,450	1,516	2,840	2,995
Raytheon Missiles & Defense | Product [Member]
Segment Reporting Information [Line Items]
Revenues	3,135	3,565	6,274	6,940
Raytheon Missiles & Defense | Service [Member]
Segment Reporting Information [Line Items]
Revenues	358	353	684	708
Raytheon Missiles & Defense | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	2,314	2,384	4,611	4,741
Raytheon Missiles & Defense | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	675	866	1,440	1,671
Raytheon Missiles & Defense | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	504	668	905	1,235
Raytheon Missiles & Defense | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	0	0	2	1
Raytheon Missiles & Defense | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	2,313	2,385	4,612	4,742
Raytheon Missiles & Defense | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	248	325	520	652
Raytheon Missiles & Defense | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	338	356	662	726
Raytheon Missiles & Defense | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	576	835	1,134	1,495
Raytheon Missiles & Defense | Canada and All Other [Member]
Segment Reporting Information [Line Items]
Revenues	18	17	30	33
Other Segments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Other Segments | Product [Member]
Segment Reporting Information [Line Items]
Revenues	0	8	4	16
Other Segments | Service [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Other Segments | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	0	4	4	11
Other Segments | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Other Segments | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Other Segments | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	0	4	0	5
Other Segments | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	0	4	4	11
Other Segments | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	0	4	0	5
Other Segments | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Other Segments | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Other Segments | Canada and All Other [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments
Segment Reporting Information [Line Items]
Revenues	17,108	16,615	33,560	32,573
Operating Segments | Collins Aerospace Systems [Member]
Segment Reporting Information [Line Items]
Revenues	4,607	4,173	9,072	8,211
Operating Segments | Pratt & Whitney [Member]
Segment Reporting Information [Line Items]
Revenues	4,969	4,280	9,498	8,310
Operating Segments | Raytheon Intelligence & Space [Member]
Segment Reporting Information [Line Items]
Revenues	3,245	3,501	6,498	6,946
Operating Segments | Raytheon Missiles & Defense
Segment Reporting Information [Line Items]
Revenues	3,493	3,918	6,958	7,648
Operating Segments | Other Segments
Segment Reporting Information [Line Items]
Revenues	0	8	4	16
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(794)	(735)	(1,530)	(1,442)
Intersegment Eliminations | Collins Aerospace Systems [Member]
Segment Reporting Information [Line Items]
Revenues	404	372	763	704
Intersegment Eliminations | Pratt & Whitney [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Intersegment Eliminations | Raytheon Intelligence & Space [Member]
Segment Reporting Information [Line Items]
Revenues	325	304	644	624
Intersegment Eliminations | Raytheon Missiles & Defense
Segment Reporting Information [Line Items]
Revenues	65	67	127	130
Intersegment Eliminations | Other Segments
Segment Reporting Information [Line Items]
Revenues	$ (794)	$ (743)	$ (1,534)	$ (1,458)

Remaining Performance Obligat_2

Remaining Performance Obligations (RPO) (Details) - USD ($) $ in Billions	3 Months Ended	6 Months Ended
	Mar. 31, 2022	Jun. 30, 2022
Remaining Performance Obligation [Line Items]
RPO		$ 161
RPO to be recognized within 12 months		30%
Revenue, Remaining Performance Obligations, RPO related to long-term commercial aerospace maintenance contracts at Pratt & Whitney		40%
Revenue, Remaining Performance Obligation, general span of Pratt & Whitney long-term commercial aerospace maintenance contracts, in years		15 years
RPO Related to Our Sales Contracts in Russia
Remaining Performance Obligation [Line Items]
Remaining Performance Obligation (RPO), Reversal	$ 1.3