RTX (RTX) 10-Q 25 Jul 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2023 shares
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-00812
Entity Registrant Name	RTX 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 Information, Former Legal or Registered Name	Raytheon Technologies Corporation
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	1,455,514,944
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000101829
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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Sales:
Net sales	$ 18,315	$ 16,314	$ 35,529	$ 32,030
Costs and Expenses:
Research and development	729	698	1,336	1,333
Selling, general and administrative	1,635	1,424	3,033	2,893
Total costs and expenses	16,882	14,978	32,532	29,642
Other income, net	25	17	113	45
Operating profit	1,458	1,353	3,110	2,433
Non-service pension income	(447)	(474)	(891)	(954)
Interest expense, net	333	329	648	647
Total non-operating expense (income), net	(114)	(145)	(243)	(307)
Income from continuing operations before income taxes	1,572	1,498	3,353	2,740
Income tax expense	213	160	513	276
Net income from continuing operations	1,359	1,338	2,840	2,464
Less: Noncontrolling interest in subsidiaries’ earnings from continuing operations	32	34	87	57
Net income from continuing operations attributable to common shareowners	1,327	1,304	2,753	2,407
Loss from discontinued operations attributable to common shareowners	0	0	0	(19)
Net income attributable to common shareowners	$ 1,327	$ 1,304	$ 2,753	$ 2,388
Earnings (loss) Per Share attributable to common shareowners - Basic:
Income from continuing operations	$ 0.91	$ 0.88	$ 1.89	$ 1.62
Loss from discontinued operations	0	0	0	(0.01)
Net income attributable to common shareowners	0.91	0.88	1.89	1.61
Earnings (loss) Per Share attributable to common shareowners - Diluted:
Income from continuing operations	0.90	0.88	1.87	1.61
Loss from discontinued operations	0	0	0	(0.01)
Net income attributable to common shareowners	$ 0.90	$ 0.88	$ 1.87	$ 1.60
Product [Member]
Net Sales:
Net sales	$ 13,411	$ 12,258	$ 26,198	$ 24,120
Costs and Expenses:
Cost of sales	11,089	10,040	21,789	19,860
Service [Member]
Net Sales:
Net sales	4,904	4,056	9,331	7,910
Costs and Expenses:
Cost of sales	$ 3,429	$ 2,816	$ 6,374	$ 5,556

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income from continuing and discontinued operations	$ 1,359	$ 1,338	$ 2,840	$ 2,445
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	404	(708)	526	(948)
Pension and postretirement benefit plans adjustments	(183)	47	(329)	68
Change in unrealized cash flow hedging	285	(182)	297	(145)
Other comprehensive income (loss), before tax	506	(843)	494	(1,025)
Income tax (expense) benefit related to items of other comprehensive income (loss)	(19)	27	22	9
Other comprehensive loss, net of tax	487	(816)	516	(1,016)
Comprehensive income	1,846	522	3,356	1,429
Less: Comprehensive income attributable to noncontrolling interest	32	34	87	57
Comprehensive income attributable to common shareowners	$ 1,814	$ 488	$ 3,269	$ 1,372

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 5,391	$ 6,220
Accounts receivable, net	9,903	9,108
Contract assets	12,970	11,534
Inventory, net	11,997	10,617
Other assets, current	5,654	4,964
Total current assets	45,915	42,443
Customer financing assets	2,457	2,603
Fixed assets	30,175	29,116
Accumulated depreciation	(14,880)	(13,946)
Fixed assets, net	15,295	15,170
Operating lease right-of-use assets	1,812	1,829
Goodwill	54,122	53,840
Intangible assets, net	36,234	36,823
Other assets	6,326	6,156
Total assets	162,161	158,864
Short-term borrowings	1,076	625
Accounts payable	10,128	9,896
Accrued employee compensation	2,121	2,401
Other accrued liabilities	11,719	10,999
Contract liabilities	15,162	14,598
Long-term debt currently due	1,554	595
Total current liabilities	41,760	39,114
Long-term debt	32,723	30,694
Operating lease liabilities, non-current	1,570	1,586
Future pension and postretirement benefit obligations	4,579	4,807
Other long-term liabilities	7,442	8,449
Total liabilities	88,074	84,650
Commitments and contingencies (Note 15)
Redeemable noncontrolling interest	31	36
Common stock	38,228	37,939
Treasury stock	(16,713)	(15,530)
Retained earnings	52,489	52,269
Unearned ESOP Shares	(22)	(28)
Accumulated other comprehensive loss	(1,502)	(2,018)
Total shareowners' equity	72,480	72,632
Noncontrolling interest	1,576	1,546
Total equity	74,056	74,178
Total liabilities, redeemable noncontrolling interest and equity	$ 162,161	$ 158,864

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Statement of Cash Flows [Abstract]
Net income from continuing operations	$ 2,840	$ 2,464
Adjustments to reconcile net income from continuing operations to net cash flows (used in) provided by operating activities:
Depreciation and amortization	2,078	2,013
Deferred income tax benefit	(700)	(1,147)
Stock compensation cost	212	212
Net periodic pension and other postretirement income	(778)	(714)
Change in:
Accounts receivable	(699)	(790)
Contract assets	(1,430)	(525)
Inventory	(1,322)	(1,033)
Other current assets	(634)	(353)
Accounts payable and accrued liabilities	(149)	2,109
Contract liabilities	255	(309)
Other operating activities, net	183	(165)
Net cash flows (used in) provided by operating activities from continuing operations	(144)	1,762
Investing Activities:
Capital expenditures	(1,046)	(918)
Dispositions of businesses, net of cash transferred	0	88
Customer financing assets receipts (payments), net	42	(7)
Increase in other intangible assets	(314)	(185)
Receipts (payments) from settlements of derivative contracts, net	45	(151)
Other investing activities, net	71	37
Net cash flows used in investing activities from continuing operations	(1,202)	(1,136)
Financing Activities:
Issuance of long-term debt	2,974	0
Repayment of long-term debt	(3)	(2)
Change in commercial paper, net (Note 8)	470	0
Change in other short-term borrowings, net	(24)	(17)
Dividends paid on common stock	(1,634)	(1,543)
Repurchase of common stock	(1,158)	(1,779)
Other financing activities, net	(157)	(286)
Net cash flows provided by (used in) financing activities from continuing operations	468	(3,627)
Effect of foreign exchange rate changes on cash and cash equivalents	19	(20)
Net decrease in cash, cash equivalents and restricted cash	(859)	(3,021)
Cash, cash equivalents and restricted cash, beginning of period	6,291	7,853
Cash, cash equivalents and restricted cash, end of period	5,432	4,832
Less: Restricted cash, included in Other assets, current and Other assets	41	65
Cash and cash equivalents, end of period	$ 5,391	$ 4,767

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Changes in Equity Statement - USD ($) shares in Thousands, $ in Millions	Total	Common Stock [Member]	Treasury Stock, Common	Retained Earnings [Member]	Unearned ESOP Shares [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Equity	$ 74,664
Stockholders' Equity Attributable to Parent		$ 37,483	$ (12,727)	$ 50,265	$ (38)	$ (1,915)
Noncontrolling interest							$ 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
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)
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				(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)
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		37,673	(14,539)	50,271	(33)	(2,931)
Noncontrolling interest							1,549
Equity	74,178
Stockholders' Equity Attributable to Parent	72,632	37,939	(15,530)	52,269	(28)	(2,018)
Noncontrolling interest	1,546						1,546
Common stock plans activity		290			6
Purchase of subsidiary shares from noncontrolling interest, net		(1)					0
Common stock repurchased			(1,183)
Stockholders' Equity, Other				(14)
Net income	$ 2,753			2,753
Dividends on common stock				(2,477)
Dividends on ESOP common stock				(42)
Other comprehensive income (loss), net of tax						516
Net income							87
Less: Redeemable noncontrolling interest net income							(3)
Dividends attributable to noncontrolling interest							(51)
Disposition of noncontrolling interest, net							(3)
Capital contributions							0
Shares of common stock issued under employee plans, net	1,230
Shares of common stock repurchased	11,954
Dividends declared per share of common stock	$ 1.730
Equity	$ 74,347
Stockholders' Equity Attributable to Parent		38,031	(16,112)	52,891	(26)	(1,989)
Noncontrolling interest							1,552
Common stock plans activity		198			4
Purchase of subsidiary shares from noncontrolling interest, net		(1)					0
Common stock repurchased			(601)
Stockholders' Equity, Other				(13)
Net income	$ 1,327			1,327
Dividends on common stock				(1,687)
Dividends on ESOP common stock				(29)
Other comprehensive income (loss), net of tax						487
Net income							32
Less: Redeemable noncontrolling interest net income							(1)
Dividends attributable to noncontrolling interest							(7)
Disposition of noncontrolling interest, net							0
Capital contributions							0
Shares of common stock issued under employee plans, net	410
Shares of common stock repurchased	6,036
Dividends declared per share of common stock	$ 1.180
Equity	$ 74,056
Stockholders' Equity Attributable to Parent	72,480	$ 38,228	$ (16,713)	$ 52,489	$ (22)	$ (1,502)
Noncontrolling interest	$ 1,576						$ 1,576

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1: Basis of Presentation The Condensed Consolidated Financial Statements at June 30, 2023 and for the quarters and six months ended June 30, 2023 and 2022 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 2022 Annual Report on Form 10-K. We reclassified certain immaterial prior period amounts within the Condensed Consolidated Statement of Cash Flows to conform to our current period presentation. Effective July 17, 2023, we changed our legal name from Raytheon Technologies Corporation to RTX Corporation. 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, 2023 and 2022 with respect to RIS or RMD, we are referring to their July 2, 2023 and July 3, 2022 fiscal quarter ends, respectively. Unless the context otherwise requires, the terms “we,” “our,” “us,” “the Company,” and “RTX” mean RTX Corporation and its subsidiaries. Effective July 1, 2023, we streamlined the structure of our core businesses from four principal business segments to three principal business segments: Collins Aerospace, Pratt & Whitney, and Raytheon. All segment information included in this Form 10-Q is reflective of the four segments of Collins, Pratt & Whitney, RIS, and RMD in accordance with the management structure in place as of June 30, 2023. See “Note 20: Subsequent Events” for additional information. 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, including certain members of the Company’s management team and Board of Directors. 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 receivable 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. 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, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure	Note 2: Acquisitions, Dispositions, Goodwill and Intangible Assets Goodwill. Changes in our goodwill balances for the six months ended June 30, 2023 were as follows: (dollars in millions) Balance as of December 31, 2022 Acquisitions and Divestitures Foreign Currency Translation and Other Balance as of June 30, 2023 Collins Aerospace $ 30,719 $ — $ 282 $ 31,001 Pratt & Whitney 1,563 — — 1,563 Raytheon Intelligence & Space 9,841 — — 9,841 Raytheon Missiles & Defense 11,700 — — 11,700 Total Segments 53,823 — 282 54,105 Eliminations and other 17 — — 17 Total $ 53,840 $ — $ 282 $ 54,122 Intangible Assets. Identifiable intangible assets are comprised of the following: June 30, 2023 December 31, 2022 (dollars in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized: Collaboration assets $ 5,663 $ (1,531) $ 5,536 $ (1,408) Exclusivity assets 3,151 (343) 2,911 (323) Developed technology and other 1,220 (593) 1,202 (544) Customer relationships 29,839 (9,836) 29,775 (8,967) 39,873 (12,303) 39,424 (11,242) Indefinite-lived: Trademarks and other 8,664 — 8,641 — Total $ 48,537 $ (12,303) $ 48,065 $ (11,242) Amortization of intangible assets for the quarters and six months ended June 30, 2023 and 2022 was $510 million and $1,019 million and $467 million and $954 million, respectively. The following is the expected amortization of intangible assets for the remainder of 2023 through 2028: (dollars in millions) Remaining 2023 2024 2025 2026 2027 2028 Amortization expense $ 973 $ 2,203 $ 2,089 $ 2,007 $ 1,891 $ 1,776

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
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) 2023 2022 2023 2022 Net income attributable to common shareowners: Income from continuing operations $ 1,327 $ 1,304 $ 2,753 $ 2,407 Loss from discontinued operations — — — (19) Net income attributable to common shareowners $ 1,327 $ 1,304 $ 2,753 $ 2,388 Basic weighted average number of shares outstanding 1,457.5 1,479.2 1,459.9 1,482.9 Stock awards and equity units (share equivalent) 11.2 10.4 11.6 10.8 Diluted weighted average number of shares outstanding 1,468.7 1,489.6 1,471.5 1,493.7 Earnings (Loss) Per Share attributable to common shareowners - Basic: Income from continuing operations $ 0.91 $ 0.88 $ 1.89 $ 1.62 Loss from discontinued operations — — — (0.01) Net income attributable to common shareowners $ 0.91 $ 0.88 $ 1.89 $ 1.61 Earnings (Loss) Per Share attributable to common shareowners - Diluted: Income from continuing operations $ 0.90 $ 0.88 $ 1.87 $ 1.61 Loss from discontinued operations — — — (0.01) Net income attributable to common shareowners $ 0.90 $ 0.88 $ 1.87 $ 1.60 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 release or exercise of stock awards when the awards’ assumed proceeds exceed the average market price of the common shares during the period. For both the quarter and six months ended June 30, 2023, the number of stock awards excluded from the computation was 4.0 million. 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.

Changes in Contract Estimates a

Changes in Contract Estimates at Completion	6 Months Ended
	Jun. 30, 2023
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 including any impact from changing costs or inflation, 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. In particular, fixed-price development programs involve significant management judgment, as development contracts by nature have elements that have not been done before and thus, are highly subject to future unexpected cost changes. 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) 2023 2022 2023 2022 Total net sales $ (29) $ (19) $ (69) $ 78 Operating profit (30) (41) (154) (5) Income from continuing operations attributable to common shareowners (1) (24) (32) (122) (4) Diluted earnings per share from continuing operations attributable to common shareowners (1) $ (0.02) $ (0.02) $ (0.08) $ — (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, 2023
Receivables [Abstract]
Accounts Receivable, Net	Note 5: Accounts Receivable, Net Accounts receivable, net consisted of the following: (dollars in millions) June 30, 2023 December 31, 2022 Accounts receivable $ 10,289 $ 9,560 Allowance for expected credit losses (386) (452) Total accounts receivable, net $ 9,903 $ 9,108

Contract Assets and Liabilities

Contract Assets and Liabilities	6 Months Ended
	Jun. 30, 2023
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, 2023 December 31, 2022 Contract assets $ 12,970 $ 11,534 Contract liabilities (15,162) (14,598) Net contract liabilities $ (2,192) $ (3,064) Contract assets increased $1,436 million during the six months ended June 30, 2023 primarily due to sales in excess of billings on certain contracts at RMD and Pratt & Whitney, partially offset by a decrease in contract assets driven by a customer insolvency charge at Pratt & Whitney. Contract liabilities increased $564 million during the six months ended June 30, 2023 primarily due to billings in excess of sales on certain contracts at Pratt & Whitney. We recognized revenue of $1.5 billion and $3.4 billion during the quarter and six months ended June 30, 2023, respectively, related to contract liabilities as of January 1, 2023 and $1.2 billion and $3.0 billion during the quarter and six months ended June 30, 2022, respectively, related to contract liabilities as of January 1, 2022. As of June 30, 2023, our Contract liabilities include approximately $405 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. Contract assets include an allowance for expected credit losses of $256 million and $318 million as of June 30, 2023 and December 31, 2022, respectively.

Inventory, Net

Inventory, Net	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventory	Note 7: Inventory, net Inventory, net consisted of the following: (dollars in millions) June 30, 2023 December 31, 2022 Raw materials $ 3,931 $ 3,477 Work-in-process 4,186 3,839 Finished goods 3,880 3,301 Total inventory, net $ 11,997 $ 10,617

Borrowings and Lines of Credit

Borrowings and Lines of Credit	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Borrowings and Lines of Credit	Note 8: Borrowings and Lines of Credit As of June 30, 2023, 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 expires in September 2023. As of June 30, 2023, there were no borrowings outstanding under these agreements. 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 364 days from the date of issuance. As of June 30, 2023, 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 $1.0 billion and $0.5 billion of commercial paper borrowings outstanding at June 30, 2023 and December 31, 2022, respectively, which is reflected in Short-term borrowings in our Condensed Consolidated Balance Sheet. At June 30, 2023 and December 31, 2022, short-term commercial paper borrowings outstanding had a weighted-average interest rate of 5.5% and 4.4%, respectively. During the six months ended June 30, 2023, we had no new commercial paper borrowings with maturities greater than 90 days. During the six months ended June 30, 2023, we made $200 million in repayments of commercial paper with maturities greater than 90 days. During the six months ended June 30, 2022, we had no commercial paper borrowings or repayments with original maturities more than 90 days from the date of issuance. We had the following issuances of long-term debt during the six months ended June 30, 2023: Issuance Date Description of Notes Aggregate Principal Balance (in millions) February 27, 2023 5.000% notes due 2026 $ 500 5.150% notes due 2033 1,250 5.375% notes due 2053 1,250 Long-term debt consisted of the following: (dollars in millions) June 30, 2023 December 31, 2022 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 5.000% notes due 2026 (1) 500 — 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) 544 531 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 5.150% notes due 2033 (1) 1,250 — 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 5.375% notes due 2053 (1) 1,250 — Other (including finance leases) 262 253 Total principal long-term debt 34,271 31,249 Other (fair market value adjustments, (discounts)/premiums, and debt issuance costs) 6 40 Total long-term debt 34,277 31,289 Less: current portion 1,554 595 Long-term debt, net of current portion $ 32,723 $ 30,694 (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, 2023 is approximately 14 years.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2023
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) 2023 2022 2023 2022 U.S. qualified defined benefit plans $ — $ — $ — $ — International defined benefit plans 20 18 28 30 PRB plans 8 4 12 9 Defined contribution plans 317 251 689 562 In December 2020, we approved a change to the Raytheon Company domestic defined benefit pension plans for non-union participants to cease future benefit accruals based on an employee’s years of service and compensation under the historical formula effective December 31, 2022. The plan change does not impact participants’ historical benefit accruals. Benefits for service after December 31, 2022 are based on a cash balance formula. This plan change resulted in lower pension service cost beginning January 1, 2023. The amounts recognized in the Condensed Consolidated Balance Sheet consist of: (dollars in millions) June 30, 2023 December 31, 2022 Noncurrent pension assets (included in Other assets) $ 3,770 $ 3,301 Current pension and PRB liabilities (included in Accrued employee compensation) 307 307 Future pension and postretirement benefit obligations 4,579 4,807 The amounts recognized in Future pension and postretirement benefit obligations consist of: (dollars in millions) June 30, 2023 December 31, 2022 Noncurrent pension liabilities $ 3,914 $ 4,133 Noncurrent PRB liabilities 605 611 Other pension and PRB related items 60 63 Future pension and postretirement benefit obligations $ 4,579 $ 4,807 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) 2023 2022 2023 2022 Operating expense Service cost $ 56 $ 118 $ 1 $ 2 Non-operating expense Interest cost 627 380 12 7 Expected return on plan assets (938) (888) (5) (6) Amortization of prior service credit (40) (41) — — Recognized actuarial net loss (gain) (95) 77 (8) (3) Net settlement, curtailment and special termination benefit (gain) loss — — — — Non-service pension income (446) (472) (1) (2) Total net periodic benefit (income) expense $ (390) $ (354) $ — $ — Pension Benefits Six Months Ended June 30, PRB Six Months Ended June 30, (dollars in millions) 2023 2022 2023 2022 Operating expense Service cost $ 111 $ 236 $ 2 $ 4 Non-operating expense Interest cost 1,253 762 24 14 Expected return on plan assets (1,875) (1,778) (10) (11) Amortization of prior service cost (credit) (79) (83) — — Recognized actuarial net loss (gain) (190) 154 (16) (6) Net settlement, curtailment and special termination benefit loss 2 (6) — — Non-service pension (income) expense (889) (951) (2) (3) Total net periodic benefit (income) expense $ (778) $ (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, 2023 December 31, 2022 Marketable securities held in trusts $ 719 $ 774

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax Disclosure	Note 10: Income Taxes Our effective tax rate for the quarter and six months ended June 30, 2023 was 13.5% and 15.3% , respectively, as compared to 10.7% and 10.1% for the quarter and six months ended June 30, 2022, respectively. The increase in the 2023 effective tax rates for both the quarter and year to date periods as compared to respective prior year periods is primarily driven by a higher forecasted annualized effective tax rate for 2023 principally due to a lower forecasted Foreign Derived Intangible Income (FDII) benefit. In addition, the effective tax rate for the six months ended June 30, 2023 reflects a lower tax benefit from stock based compensation as compared to the six months ended June 30, 2022. We conduct business globally and, as a result, RTX 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 2013. The Examination Division of the Internal Revenue Service (IRS) is currently auditing RTX (formerly United Technologies Corporation) tax years 2017 and 2018, pre-acquisition Rockwell Collins tax years 2016, 2017, and 2018, and pre-merger Raytheon Company tax years 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 examination phase of these audits is expected to close in 2023. The Company currently believes that it is reasonably possible that the closure of the RTX 2017 and 2018 audit and Rockwell Collins years 2016, 2017, and 2018 audit will result in a net income benefit in the range of $225 million to $315 million. This range includes the effects of adjusting interest accruals and certain tax related indemnity receivables related to the separation and distributions of Carrier Global Corporation (Carrier) and Otis Worldwide Corporation (Otis). The tax components of this range are included in the revaluation range included below. Given the current examination status of the Raytheon Company audit, there is currently insufficient information to estimate the potential net income impact of that audit.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2023
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 present value of aggregate notional principal of our outstanding foreign currency hedges was $12.7 billion and $11.2 billion at June 30, 2023 and December 31, 2022, respectively. At June 30, 2023, 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, 2023 December 31, 2022 Derivatives designated as hedging instruments: Foreign exchange contracts Other assets, current $ 197 $ 67 Other accrued liabilities 172 347 Derivatives not designated as hedging instruments: Foreign exchange contracts Other assets, current $ 42 $ 17 Other accrued liabilities 28 39 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, 2023 and 2022 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, 2023, our €500 million principal value of euro-denominated long-term debt 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 and is not significant.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
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, 2023 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurements: Marketable securities held in trusts $ 719 $ 658 $ 61 $ — Derivative assets 239 — 239 — Derivative liabilities 200 — 200 — December 31, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurements: Marketable securities held in trusts $ 774 $ 713 $ 61 $ — Derivative assets 84 — 84 — Derivative liabilities 386 — 386 — 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, 2023, 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, 2023 December 31, 2022 (dollars in millions) Carrying Fair Carrying Fair Customer financing notes receivable $ 103 $ 99 $ 169 $ 161 Long-term debt (excluding finance leases) 34,180 31,583 31,201 28,049 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, 2023 (dollars in millions) Total Level 1 Level 2 Level 3 Customer financing notes receivable $ 99 $ — $ 99 $ — Long-term debt (excluding finance leases) 31,583 — 31,537 46 December 31, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Customer financing notes receivable $ 161 $ — $ 161 $ — Long-term debt (excluding finance leases) 28,049 — 28,003 46 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, 2023
Schedule of Variable Interest Entities [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 family of 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, 2023 December 31, 2022 Current assets $ 7,895 $ 7,609 Noncurrent assets 821 779 Total assets $ 8,716 $ 8,388 Current liabilities $ 9,191 $ 9,154 Noncurrent liabilities 24 19 Total liabilities $ 9,215 $ 9,173

Guarantees

Guarantees	6 Months Ended
	Jun. 30, 2023
Guarantees [Abstract]
Guarantees	Note 14: GuaranteesWe extend a variety of financial, market value and product performance guarantees to third parties. These instruments expire on various dates through 2036. 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, 2023 and December 31, 2022, the following financial guarantees were outstanding: June 30, 2023 December 31, 2022 (dollars in millions) Maximum Potential Payment Carrying Amount of Liability Maximum Potential Payment Carrying Amount of Liability Commercial aerospace financing arrangements $ 304 $ — $ 304 $ — Third party guarantees 405 1 335 1 We have made residual value and other guarantees related to various commercial aerospace customer financing arrangements. The estimated fair market 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 were $140 million at both June 30, 2023 and December 31, 2022. 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 $95 million and $97 million at June 30, 2023 and December 31, 2022, 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, 2023 and 2022 were as follows: (dollars in millions) 2023 2022 Balance as of January 1 $ 1,109 $ 1,157 Warranties and performance guarantees issued 124 128 Settlements (160) (131) Other 6 (11) Balance as of June 30 $ 1,079 $ 1,143 Product and service guarantees incurred in connection with long term production contracts and certain aftermarket arrangements are generally accounted for within the contract estimates at completion.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
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, 2023 and December 31, 2022, we had $773 million and $798 million, respectively, reserved for environmental remediation. Commercial Aerospace Financing and Other Commitments. We had commercial aerospace financing commitments and other contractual commitments of approximately $14.8 billion and $15.3 billion as of June 30, 2023 and December 31, 2022, 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 our 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 our 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 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 $3.2 billion as of June 30, 2023. 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, 2023, the aggregate amount of our offset agreements, both agreed to and anticipated to be agreed to, had an outstanding notional value of approximately $12.8 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. Tax Treatment of Carrier and Otis Dispositions. 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 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, results of operations, financial condition, or liquidity in future reporting periods. 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 ($934 million at June 30, 2023). 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 ($143 million at June 30, 2023). 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. The motion for reconsideration was denied on August 29, 2022. On December 23, 2022, the DCMA filed an appeal to the United States Court of Appeals for the Federal Circuit. We continue to 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 ($109 million at June 30, 2023). 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 continue to 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 and Related Matters 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 Raytheon Company, our joint venture known as 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, and continues to cooperate fully with the SEC’s and DOJ’s inquiries and to examine through our own investigation whether there were any improper payments or any such conduct that was in violation of Raytheon Company policy. At this time, the Company is unable to predict the outcome of the SEC’s or DOJ’s inquiries. Based on the information available to date, however, we cannot reasonably estimate the range of any potential loss or impact to the business that may result, but do not believe that the results of these inquiries 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 continue to make substantial progress in our internal review of the issues raised by the DOJ investigation. Although we 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 $295 million for this matter . We are currently unable to estimate an incremental loss, if any, which may result when the DOJ investigation is complete. Based on the information available to date, we do not believe the results of the DOJ investigation or of any pending or 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. That lawsuit was recently dismissed with prejudice. No appeal was filed so the case is concluded. Three shareholder derivative lawsuits were also 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. Those shareholder derivative lawsuits were consolidated and remain pending. We continue to believe that the consolidated action lacks merit. Darnis, et al. and Related Matter 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. 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. On September 30, 2022, in response to motions to dismiss filed by the Company, Otis and Carrier, the Court dismissed the class action in its entirety with prejudice. On October 26, 2022, Plaintiffs filed an appeal to the United States Court of Appeals for the Second Circuit. We continue to believe that this matter will not have a material adverse effect on our results of operations, financial condition, or liquidity. On December 6, 2022, a shareholder derivative lawsuit was filed in the Delaware Court of Chancery against the Company and certain current and former members of its Board of Directors, alleging that defendants breached their fiduciary duties in May 2020 by amending the method by which UTC equity awards were converted to certain Company equity awards following the separation of UTC into three independent, publicly-traded companies. We believe that the lawsuit lacks merit. 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. On April 28, 2023, during a jury trial, the Court entered a judgment of acquittal in favor of the former Pratt & Whitney employee and all other defendants, finding that the DOJ did not prove the charges set forth in the indictment. The judgment of acquittal cannot be appealed and is a final resolution of the criminal indictment. On June 29, 2023, the DOJ advised the Company in writing that it no longer regards the Company, its divisions and affiliates, and any current or former employees of the Company and its divisions and affiliates, as targets of the DOJ investigation. While we will continue to cooperate with any ongoing investigation, we believe in light of the DOJ’s June 29th letter that no criminal charges will be filed against the Company, its divisions or affiliates, or any current or former employees. After the criminal charges against the individuals were first filed, numerous civil class action antitrust lawsuits were 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. Pratt & Whitney has determined that a rare condition in powdered metal used to manufacture certain engine parts will require accelerated fleet inspection. This does not impact engines currently being produced. As a result, the business anticipates that a significant portion of the PW1100G-JM fleet, which powers the A320neo, will require engine removals and inspections within the next nine to twelve months, including approximately 200 accelerated removals by mid-September of this year. The financial impact associated with these removals and inspections is subject to a wide range of factors. The Company is performing additional engineering analysis and fleet management planning that will further inform those factors which includes evaluating the timing and results of required inspections, workscope and impact on our customers. These removals and inspections may have the effect of increasing cost estimates in our long-term contracts. Potential cost growth related to this matter could have a material effect on the Company’s results of operations for the periods in which it is recognized. 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, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	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, 2023 and 2022 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, 2023 Balance at March 31, 2023 $ (882) $ (890) $ (217) $ (1,989) Other comprehensive income (loss) before reclassifications, net 404 (40) 260 624 Amounts reclassified, pre-tax — (143) 25 (118) Tax benefit (expense) 2 38 (59) (19) Balance at June 30, 2023 $ (476) $ (1,035) $ 9 $ (1,502) Six Months Ended June 30, 2023 Balance at December 31, 2022 $ (1,005) $ (782) $ (231) $ (2,018) Other comprehensive income (loss) before reclassifications, net 526 (44) 233 715 Amounts reclassified, pre-tax — (285) 64 (221) Tax benefit (expense) 3 76 (57) 22 Balance at June 30, 2023 $ (476) $ (1,035) $ 9 $ (1,502) (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)

Segment Financial Data

Segment Financial Data	6 Months Ended
	Jun. 30, 2023
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. Effective July 1, 2023, we streamlined the structure of our core businesses from four principal business segments to three principal business segments: Collins Aerospace, Pratt & Whitney, and Raytheon. All segment information included in this Form 10-Q is reflective of the four segments of Collins, Pratt & Whitney, RIS, and RMD in accordance with the management structure in place as of June 30, 2023. See “Note 20: Subsequent Events” for additional information. 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, the amortization of customer contractual obligations related to loss making or below market contracts acquired, and goodwill impairment. 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, 2023 and 2022 are as follows: Net Sales Operating Profit Operating Profit Margins (dollars in millions) 2023 2022 2023 2022 2023 2022 Collins Aerospace $ 5,850 $ 5,011 $ 821 $ 546 14.0 % 10.9 % Pratt & Whitney 5,701 4,969 230 302 4.0 % 6.1 % Raytheon Intelligence & Space 3,655 3,570 291 315 8.0 % 8.8 % Raytheon Missiles & Defense 4,000 3,558 415 348 10.4 % 9.8 % Total segment 19,206 17,108 1,757 1,511 9.1 % 8.8 % Eliminations and other (1) (891) (794) (60) (47) Corporate expenses and other unallocated items (2) — — (59) (42) FAS/CAS operating adjustment — — 309 379 Acquisition accounting adjustments — — (489) (448) Consolidated $ 18,315 $ 16,314 $ 1,458 $ 1,353 8.0 % 8.3 % (1) Includes the operating results of certain smaller non-reportable business segments. (2) 2022 included the net expenses related to the U.S. Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) project. Beginning in 2023, LTAMDS results are included in the RMD segment. Results for the six months ended June 30, 2023 and 2022 are as follows: Net Sales Operating Profit Operating Profit Margins (dollars in millions) 2023 2022 2023 2022 2023 2022 Collins Aerospace $ 11,431 $ 9,835 $ 1,615 $ 986 14.1 % 10.0 % Pratt & Whitney 10,931 9,498 645 453 5.9 % 4.8 % Raytheon Intelligence & Space 7,220 7,142 615 693 8.5 % 9.7 % Raytheon Missiles & Defense 7,671 7,085 743 735 9.7 % 10.4 % Total segment 37,253 33,560 3,618 2,867 9.7 % 8.5 % Eliminations and other (1) (1,724) (1,530) (47) (81) Corporate expenses and other unallocated items (2) — — (102) (178) FAS/CAS operating adjustment — — 623 757 Acquisition accounting adjustments — — (982) (932) Consolidated $ 35,529 $ 32,030 $ 3,110 $ 2,433 8.8 % 7.6 % (1) Includes the operating results of certain smaller non-reportable business segments. (2) 2022 included the net expenses related to the U.S. Army’s LTAMDS project. Beginning in 2023, LTAMDS results are included in the RMD segment. 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, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total United States $ 2,785 $ 2,847 $ 2,867 $ 2,727 $ 1 $ 11,227 $ 2,458 $ 2,562 $ 2,852 $ 2,313 $ — $ 10,185 Europe 1,506 1,345 109 326 — 3,286 1,270 1,057 103 248 — 2,678 Asia Pacific 568 972 214 355 — 2,109 455 825 190 338 — 1,808 Middle East and North Africa 176 104 44 527 — 851 119 112 62 576 — 869 Other 361 433 29 19 — 842 305 413 38 18 — 774 Consolidated net sales 5,396 5,701 3,263 3,954 1 18,315 4,607 4,969 3,245 3,493 — 16,314 Inter-segment sales 454 — 392 46 (892) — 404 — 325 65 (794) — Business segment sales $ 5,850 $ 5,701 $ 3,655 $ 4,000 $ (891) $ 18,315 $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 Segment sales disaggregated by geographic region for the six months ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total United States $ 5,433 $ 5,478 $ 5,673 $ 5,186 $ 5 $ 21,775 $ 4,707 $ 4,874 $ 5,718 $ 4,612 $ 4 $ 19,915 Europe 2,964 2,465 217 630 — 6,276 2,584 1,936 210 520 — 5,250 Asia Pacific 1,124 1,877 427 731 — 4,159 952 1,698 353 662 — 3,665 Middle East and North Africa 332 214 80 988 — 1,614 231 190 143 1,134 — 1,698 Other 706 896 60 43 — 1,705 598 800 74 30 — 1,502 Consolidated net sales 10,559 10,930 6,457 7,578 5 35,529 9,072 9,498 6,498 6,958 4 32,030 Inter-segment sales 872 1 763 93 (1,729) — 763 — 644 127 (1,534) — Business segment sales $ 11,431 $ 10,931 $ 7,220 $ 7,671 $ (1,724) $ 35,529 $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 Segment sales disaggregated by type of customer for the quarters ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Sales to the U.S. government (1) $ 1,112 $ 1,313 $ 2,809 $ 2,723 $ 1 $ 7,958 $ 1,023 $ 1,417 $ 2,805 $ 2,314 $ — $ 7,559 Foreign military sales through the U.S. government 41 352 144 704 — 1,241 53 304 149 675 — 1,181 Foreign government direct commercial sales 259 102 206 522 — 1,089 263 116 212 504 — 1,095 Commercial aerospace and other commercial sales 3,984 3,934 104 5 — 8,027 3,268 3,132 79 — — 6,479 Consolidated net sales 5,396 5,701 3,263 3,954 1 18,315 4,607 4,969 3,245 3,493 — 16,314 Inter-segment sales 454 — 392 46 (892) — 404 — 325 65 (794) — Business segment sales $ 5,850 $ 5,701 $ 3,655 $ 4,000 $ (891) $ 18,315 $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 (1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by type of customer for the six months ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Sales to the U.S. government (1) $ 2,244 $ 2,535 $ 5,551 $ 5,180 $ 5 $ 15,515 $ 2,074 $ 2,591 $ 5,617 $ 4,611 $ 4 $ 14,897 Foreign military sales through the U.S. government 94 684 305 1,420 — 2,503 107 501 309 1,440 — 2,357 Foreign government direct commercial sales 499 220 407 967 — 2,093 514 219 416 905 — 2,054 Commercial aerospace and other commercial sales 7,722 7,491 194 11 — 15,418 6,377 6,187 156 2 — 12,722 Consolidated net sales 10,559 10,930 6,457 7,578 5 35,529 9,072 9,498 6,498 6,958 4 32,030 Inter-segment sales 872 1 763 93 (1,729) — 763 — 644 127 (1,534) — Business segment sales $ 11,431 $ 10,931 $ 7,220 $ 7,671 $ (1,724) $ 35,529 $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 (1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by sales type for the quarters ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Products $ 4,162 $ 3,199 $ 2,503 $ 3,546 $ 1 $ 13,411 $ 3,577 $ 2,982 $ 2,564 $ 3,135 $ — $ 12,258 Services 1,234 2,502 760 408 — 4,904 1,030 1,987 681 358 — 4,056 Consolidated net sales 5,396 5,701 3,263 3,954 1 18,315 4,607 4,969 3,245 3,493 — 16,314 Inter-segment sales 454 — 392 46 (892) — 404 — 325 65 (794) — Business segment sales $ 5,850 $ 5,701 $ 3,655 $ 4,000 $ (891) $ 18,315 $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 Segment sales disaggregated by sales type for the six months ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Products $ 8,162 $ 6,251 $ 5,013 $ 6,767 $ 5 $ 26,198 $ 7,059 $ 5,615 $ 5,168 $ 6,274 $ 4 $ 24,120 Services 2,397 4,679 1,444 811 — 9,331 2,013 3,883 1,330 684 — 7,910 Consolidated net sales $ 10,559 $ 10,930 $ 6,457 $ 7,578 $ 5 $ 35,529 $ 9,072 $ 9,498 $ 6,498 $ 6,958 $ 4 $ 32,030 Inter-segment sales 872 1 763 93 (1,729) — 763 — 644 127 (1,534) — Business segment sales $ 11,431 $ 10,931 $ 7,220 $ 7,671 $ (1,724) $ 35,529 $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 RIS and RMD segment sales disaggregated by contract type for the quarters ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Raytheon Intelligence & Space Raytheon Missiles & Defense Raytheon Intelligence & Space Raytheon Missiles & Defense Fixed-price $ 1,368 $ 2,258 $ 1,353 $ 2,043 Cost-type 1,895 1,696 1,892 1,450 Consolidated net sales 3,263 3,954 3,245 3,493 Inter-segment sales 392 46 325 65 Business segment sales $ 3,655 $ 4,000 $ 3,570 $ 3,558 RIS and RMD segment sales disaggregated by contract type for the six months ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Raytheon Intelligence & Space Raytheon Missiles & Defense Raytheon Intelligence & Space Raytheon Missiles & Defense Fixed-price $ 2,755 $ 4,353 $ 2,693 $ 4,118 Cost-type 3,702 3,225 3,805 2,840 Consolidated net sales 6,457 7,578 6,498 6,958 Inter-segments sales 763 93 644 127 Business segment sales $ 7,220 $ 7,671 $ 7,142 $ 7,085

Remaining Performance Obligatio

Remaining Performance Obligations (RPO)	6 Months Ended
	Jun. 30, 2023
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 $185 billion as of June 30, 2023. Of the total RPO as of June 30, 2023, we expect approximately 30% will be recognized as revenue over the next 12 months. Approximately 45% 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, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Pronouncements	Note 19: Accounting Pronouncements In September 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2022-04, Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, which requires that a buyer in a supplier finance program disclose the key terms of supplier finance programs, the amount of obligations outstanding at the end of the reporting period that the entity has confirmed as valid to the finance provider, where these obligations are recorded in the balance sheet, and a roll forward of the obligations. The new standard is effective for fiscal years beginning after December 15, 2022, on a retrospective basis, including interim periods within those fiscal years. The adoption of this standard did not have an impact on our disclosures as we have determined impact of supplier finance programs is not material. Other new pronouncements issued but not effective until after June 30, 2023 are not expected to have a material impact on our results of operations, financial condition, or liquidity.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 20: Subsequent Events Segment Realignment. Effective July 1, 2023, the Company streamlined the structure of its core businesses from four principal business segments into three principal business segments as follows: • Collins Aerospace. Collins is a leading global provider of technologically advanced aerospace and defense products and aftermarket service solutions for aircraft manufacturers, airlines, and regional, business and general aviation, as well as for defense and commercial space operations; • Pratt & Whitney . Pratt & Whitney is among the world’s leading suppliers of aircraft engines for commercial, defense, business jet and general aviation customers; and • Raytheon. Raytheon is a leading provider of advanced air and missile defense systems, effectors, hypersonics, sensors and radars, cybersecurity services, and integrated space solutions for government and commercial customers. As a result of the segment realignment, the RIS and RMD segments have been eliminated as business segments effective July 1, 2023. Definitive Agreement. See “Note 2: Acquisitions, Dispositions, Goodwill and Intangible Assets” for information related to a definitive agreement executed by the Company on July 20, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income	$ 1,327	$ 1,304	$ 2,753	$ 2,388

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Acquisitions, Dispositions, G_2

Acquisitions, Dispositions, Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill [Line Items]
Schedule of Goodwill	Changes in our goodwill balances for the six months ended June 30, 2023 were as follows: (dollars in millions) Balance as of December 31, 2022 Acquisitions and Divestitures Foreign Currency Translation and Other Balance as of June 30, 2023 Collins Aerospace $ 30,719 $ — $ 282 $ 31,001 Pratt & Whitney 1,563 — — 1,563 Raytheon Intelligence & Space 9,841 — — 9,841 Raytheon Missiles & Defense 11,700 — — 11,700 Total Segments 53,823 — 282 54,105 Eliminations and other 17 — — 17 Total $ 53,840 $ — $ 282 $ 54,122
Schedule of Indefinite-Lived Intangible Assets	Identifiable intangible assets are comprised of the following: June 30, 2023 December 31, 2022 (dollars in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Amortized: Collaboration assets $ 5,663 $ (1,531) $ 5,536 $ (1,408) Exclusivity assets 3,151 (343) 2,911 (323) Developed technology and other 1,220 (593) 1,202 (544) Customer relationships 29,839 (9,836) 29,775 (8,967) 39,873 (12,303) 39,424 (11,242) Indefinite-lived: Trademarks and other 8,664 — 8,641 — Total $ 48,537 $ (12,303) $ 48,065 $ (11,242)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following is the expected amortization of intangible assets for the remainder of 2023 through 2028: (dollars in millions) Remaining 2023 2024 2025 2026 2027 2028 Amortization expense $ 973 $ 2,203 $ 2,089 $ 2,007 $ 1,891 $ 1,776

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
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) 2023 2022 2023 2022 Net income attributable to common shareowners: Income from continuing operations $ 1,327 $ 1,304 $ 2,753 $ 2,407 Loss from discontinued operations — — — (19) Net income attributable to common shareowners $ 1,327 $ 1,304 $ 2,753 $ 2,388 Basic weighted average number of shares outstanding 1,457.5 1,479.2 1,459.9 1,482.9 Stock awards and equity units (share equivalent) 11.2 10.4 11.6 10.8 Diluted weighted average number of shares outstanding 1,468.7 1,489.6 1,471.5 1,493.7 Earnings (Loss) Per Share attributable to common shareowners - Basic: Income from continuing operations $ 0.91 $ 0.88 $ 1.89 $ 1.62 Loss from discontinued operations — — — (0.01) Net income attributable to common shareowners $ 0.91 $ 0.88 $ 1.89 $ 1.61 Earnings (Loss) Per Share attributable to common shareowners - Diluted: Income from continuing operations $ 0.90 $ 0.88 $ 1.87 $ 1.61 Loss from discontinued operations — — — (0.01) Net income attributable to common shareowners $ 0.90 $ 0.88 $ 1.87 $ 1.60

Changes in Contract Estimates_2

Changes in Contract Estimates at Completion (Tables)	6 Months Ended
	Jun. 30, 2023
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) 2023 2022 2023 2022 Total net sales $ (29) $ (19) $ (69) $ 78 Operating profit (30) (41) (154) (5) Income from continuing operations attributable to common shareowners (1) (24) (32) (122) (4) Diluted earnings per share from continuing operations attributable to common shareowners (1) $ (0.02) $ (0.02) $ (0.08) $ — (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, 2023
Receivables [Abstract]
Schedule of Receivables, Net	Accounts receivable, net consisted of the following: (dollars in millions) June 30, 2023 December 31, 2022 Accounts receivable $ 10,289 $ 9,560 Allowance for expected credit losses (386) (452) Total accounts receivable, net $ 9,903 $ 9,108

Contract Assets and Liabiliti_2

Contract Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 December 31, 2022 Contract assets $ 12,970 $ 11,534 Contract liabilities (15,162) (14,598) Net contract liabilities $ (2,192) $ (3,064)

Inventory, Net (Tables)

Inventory, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventory, net consisted of the following: (dollars in millions) June 30, 2023 December 31, 2022 Raw materials $ 3,931 $ 3,477 Work-in-process 4,186 3,839 Finished goods 3,880 3,301 Total inventory, net $ 11,997 $ 10,617

Borrowings and Lines of Credit

Borrowings and Lines of Credit (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long Term Debt Issuances	We had the following issuances of long-term debt during the six months ended June 30, 2023: Issuance Date Description of Notes Aggregate Principal Balance (in millions) February 27, 2023 5.000% notes due 2026 $ 500 5.150% notes due 2033 1,250 5.375% notes due 2053 1,250
Schedule of Long-term Debt	Long-term debt consisted of the following: (dollars in millions) June 30, 2023 December 31, 2022 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 5.000% notes due 2026 (1) 500 — 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) 544 531 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 5.150% notes due 2033 (1) 1,250 — 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 5.375% notes due 2053 (1) 1,250 — Other (including finance leases) 262 253 Total principal long-term debt 34,271 31,249 Other (fair market value adjustments, (discounts)/premiums, and debt issuance costs) 6 40 Total long-term debt 34,277 31,289 Less: current portion 1,554 595 Long-term debt, net of current portion $ 32,723 $ 30,694 (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, 2023
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) 2023 2022 2023 2022 U.S. qualified defined benefit plans $ — $ — $ — $ — International defined benefit plans 20 18 28 30 PRB plans 8 4 12 9 Defined contribution plans 317 251 689 562
Schedule of Amounts Recognized in Balance Sheet	The amounts recognized in the Condensed Consolidated Balance Sheet consist of: (dollars in millions) June 30, 2023 December 31, 2022 Noncurrent pension assets (included in Other assets) $ 3,770 $ 3,301 Current pension and PRB liabilities (included in Accrued employee compensation) 307 307 Future pension and postretirement benefit obligations 4,579 4,807 The amounts recognized in Future pension and postretirement benefit obligations consist of: (dollars in millions) June 30, 2023 December 31, 2022 Noncurrent pension liabilities $ 3,914 $ 4,133 Noncurrent PRB liabilities 605 611 Other pension and PRB related items 60 63 Future pension and postretirement benefit obligations $ 4,579 $ 4,807
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) 2023 2022 2023 2022 Operating expense Service cost $ 56 $ 118 $ 1 $ 2 Non-operating expense Interest cost 627 380 12 7 Expected return on plan assets (938) (888) (5) (6) Amortization of prior service credit (40) (41) — — Recognized actuarial net loss (gain) (95) 77 (8) (3) Net settlement, curtailment and special termination benefit (gain) loss — — — — Non-service pension income (446) (472) (1) (2) Total net periodic benefit (income) expense $ (390) $ (354) $ — $ — Pension Benefits Six Months Ended June 30, PRB Six Months Ended June 30, (dollars in millions) 2023 2022 2023 2022 Operating expense Service cost $ 111 $ 236 $ 2 $ 4 Non-operating expense Interest cost 1,253 762 24 14 Expected return on plan assets (1,875) (1,778) (10) (11) Amortization of prior service cost (credit) (79) (83) — — Recognized actuarial net loss (gain) (190) 154 (16) (6) Net settlement, curtailment and special termination benefit loss 2 (6) — — Non-service pension (income) expense (889) (951) (2) (3) Total net periodic benefit (income) expense $ (778) $ (715) $ — $ 1
Marketable Securities	The fair value of marketable securities held in trusts was as follows: (dollars in millions) June 30, 2023 December 31, 2022 Marketable securities held in trusts $ 719 $ 774

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 December 31, 2022 Derivatives designated as hedging instruments: Foreign exchange contracts Other assets, current $ 197 $ 67 Other accrued liabilities 172 347 Derivatives not designated as hedging instruments: Foreign exchange contracts Other assets, current $ 42 $ 17 Other accrued liabilities 28 39

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurements: Marketable securities held in trusts $ 719 $ 658 $ 61 $ — Derivative assets 239 — 239 — Derivative liabilities 200 — 200 — December 31, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Recurring fair value measurements: Marketable securities held in trusts $ 774 $ 713 $ 61 $ — Derivative assets 84 — 84 — Derivative liabilities 386 — 386 —
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, 2023 December 31, 2022 (dollars in millions) Carrying Fair Carrying Fair Customer financing notes receivable $ 103 $ 99 $ 169 $ 161 Long-term debt (excluding finance leases) 34,180 31,583 31,201 28,049 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, 2023 (dollars in millions) Total Level 1 Level 2 Level 3 Customer financing notes receivable $ 99 $ — $ 99 $ — Long-term debt (excluding finance leases) 31,583 — 31,537 46 December 31, 2022 (dollars in millions) Total Level 1 Level 2 Level 3 Customer financing notes receivable $ 161 $ — $ 161 $ — Long-term debt (excluding finance leases) 28,049 — 28,003 46

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2023
Schedule of Variable Interest Entities [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, 2023 December 31, 2022 Current assets $ 7,895 $ 7,609 Noncurrent assets 821 779 Total assets $ 8,716 $ 8,388 Current liabilities $ 9,191 $ 9,154 Noncurrent liabilities 24 19 Total liabilities $ 9,215 $ 9,173

Guarantees (Tables)

Guarantees (Tables)	6 Months Ended
	Jun. 30, 2023
Guarantees [Abstract]
Schedule of Guarantees	As of June 30, 2023 and December 31, 2022, the following financial guarantees were outstanding: June 30, 2023 December 31, 2022 (dollars in millions) Maximum Potential Payment Carrying Amount of Liability Maximum Potential Payment Carrying Amount of Liability Commercial aerospace financing arrangements $ 304 $ — $ 304 $ — Third party guarantees 405 1 335 1
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, 2023 and 2022 were as follows: (dollars in millions) 2023 2022 Balance as of January 1 $ 1,109 $ 1,157 Warranties and performance guarantees issued 124 128 Settlements (160) (131) Other 6 (11) Balance as of June 30 $ 1,079 $ 1,143

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2023 and 2022 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, 2023 Balance at March 31, 2023 $ (882) $ (890) $ (217) $ (1,989) Other comprehensive income (loss) before reclassifications, net 404 (40) 260 624 Amounts reclassified, pre-tax — (143) 25 (118) Tax benefit (expense) 2 38 (59) (19) Balance at June 30, 2023 $ (476) $ (1,035) $ 9 $ (1,502) Six Months Ended June 30, 2023 Balance at December 31, 2022 $ (1,005) $ (782) $ (231) $ (2,018) Other comprehensive income (loss) before reclassifications, net 526 (44) 233 715 Amounts reclassified, pre-tax — (285) 64 (221) Tax benefit (expense) 3 76 (57) 22 Balance at June 30, 2023 $ (476) $ (1,035) $ 9 $ (1,502) (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)

Segment Financial Data (Tables)

Segment Financial Data (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Results for the quarters ended June 30, 2023 and 2022 are as follows: Net Sales Operating Profit Operating Profit Margins (dollars in millions) 2023 2022 2023 2022 2023 2022 Collins Aerospace $ 5,850 $ 5,011 $ 821 $ 546 14.0 % 10.9 % Pratt & Whitney 5,701 4,969 230 302 4.0 % 6.1 % Raytheon Intelligence & Space 3,655 3,570 291 315 8.0 % 8.8 % Raytheon Missiles & Defense 4,000 3,558 415 348 10.4 % 9.8 % Total segment 19,206 17,108 1,757 1,511 9.1 % 8.8 % Eliminations and other (1) (891) (794) (60) (47) Corporate expenses and other unallocated items (2) — — (59) (42) FAS/CAS operating adjustment — — 309 379 Acquisition accounting adjustments — — (489) (448) Consolidated $ 18,315 $ 16,314 $ 1,458 $ 1,353 8.0 % 8.3 % (1) Includes the operating results of certain smaller non-reportable business segments. (2) 2022 included the net expenses related to the U.S. Army’s Lower Tier Air and Missile Defense Sensor (LTAMDS) project. Beginning in 2023, LTAMDS results are included in the RMD segment. Results for the six months ended June 30, 2023 and 2022 are as follows: Net Sales Operating Profit Operating Profit Margins (dollars in millions) 2023 2022 2023 2022 2023 2022 Collins Aerospace $ 11,431 $ 9,835 $ 1,615 $ 986 14.1 % 10.0 % Pratt & Whitney 10,931 9,498 645 453 5.9 % 4.8 % Raytheon Intelligence & Space 7,220 7,142 615 693 8.5 % 9.7 % Raytheon Missiles & Defense 7,671 7,085 743 735 9.7 % 10.4 % Total segment 37,253 33,560 3,618 2,867 9.7 % 8.5 % Eliminations and other (1) (1,724) (1,530) (47) (81) Corporate expenses and other unallocated items (2) — — (102) (178) FAS/CAS operating adjustment — — 623 757 Acquisition accounting adjustments — — (982) (932) Consolidated $ 35,529 $ 32,030 $ 3,110 $ 2,433 8.8 % 7.6 % (1) Includes the operating results of certain smaller non-reportable business segments. (2) 2022 included the net expenses related to the U.S. Army’s LTAMDS project. Beginning in 2023, LTAMDS results are included in the RMD segment.
Disaggregation of Revenue	Segment sales disaggregated by geographic region for the quarters ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total United States $ 2,785 $ 2,847 $ 2,867 $ 2,727 $ 1 $ 11,227 $ 2,458 $ 2,562 $ 2,852 $ 2,313 $ — $ 10,185 Europe 1,506 1,345 109 326 — 3,286 1,270 1,057 103 248 — 2,678 Asia Pacific 568 972 214 355 — 2,109 455 825 190 338 — 1,808 Middle East and North Africa 176 104 44 527 — 851 119 112 62 576 — 869 Other 361 433 29 19 — 842 305 413 38 18 — 774 Consolidated net sales 5,396 5,701 3,263 3,954 1 18,315 4,607 4,969 3,245 3,493 — 16,314 Inter-segment sales 454 — 392 46 (892) — 404 — 325 65 (794) — Business segment sales $ 5,850 $ 5,701 $ 3,655 $ 4,000 $ (891) $ 18,315 $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 Segment sales disaggregated by geographic region for the six months ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total United States $ 5,433 $ 5,478 $ 5,673 $ 5,186 $ 5 $ 21,775 $ 4,707 $ 4,874 $ 5,718 $ 4,612 $ 4 $ 19,915 Europe 2,964 2,465 217 630 — 6,276 2,584 1,936 210 520 — 5,250 Asia Pacific 1,124 1,877 427 731 — 4,159 952 1,698 353 662 — 3,665 Middle East and North Africa 332 214 80 988 — 1,614 231 190 143 1,134 — 1,698 Other 706 896 60 43 — 1,705 598 800 74 30 — 1,502 Consolidated net sales 10,559 10,930 6,457 7,578 5 35,529 9,072 9,498 6,498 6,958 4 32,030 Inter-segment sales 872 1 763 93 (1,729) — 763 — 644 127 (1,534) — Business segment sales $ 11,431 $ 10,931 $ 7,220 $ 7,671 $ (1,724) $ 35,529 $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 Segment sales disaggregated by type of customer for the quarters ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Sales to the U.S. government (1) $ 1,112 $ 1,313 $ 2,809 $ 2,723 $ 1 $ 7,958 $ 1,023 $ 1,417 $ 2,805 $ 2,314 $ — $ 7,559 Foreign military sales through the U.S. government 41 352 144 704 — 1,241 53 304 149 675 — 1,181 Foreign government direct commercial sales 259 102 206 522 — 1,089 263 116 212 504 — 1,095 Commercial aerospace and other commercial sales 3,984 3,934 104 5 — 8,027 3,268 3,132 79 — — 6,479 Consolidated net sales 5,396 5,701 3,263 3,954 1 18,315 4,607 4,969 3,245 3,493 — 16,314 Inter-segment sales 454 — 392 46 (892) — 404 — 325 65 (794) — Business segment sales $ 5,850 $ 5,701 $ 3,655 $ 4,000 $ (891) $ 18,315 $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 (1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by type of customer for the six months ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Sales to the U.S. government (1) $ 2,244 $ 2,535 $ 5,551 $ 5,180 $ 5 $ 15,515 $ 2,074 $ 2,591 $ 5,617 $ 4,611 $ 4 $ 14,897 Foreign military sales through the U.S. government 94 684 305 1,420 — 2,503 107 501 309 1,440 — 2,357 Foreign government direct commercial sales 499 220 407 967 — 2,093 514 219 416 905 — 2,054 Commercial aerospace and other commercial sales 7,722 7,491 194 11 — 15,418 6,377 6,187 156 2 — 12,722 Consolidated net sales 10,559 10,930 6,457 7,578 5 35,529 9,072 9,498 6,498 6,958 4 32,030 Inter-segment sales 872 1 763 93 (1,729) — 763 — 644 127 (1,534) — Business segment sales $ 11,431 $ 10,931 $ 7,220 $ 7,671 $ (1,724) $ 35,529 $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 (1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by sales type for the quarters ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Products $ 4,162 $ 3,199 $ 2,503 $ 3,546 $ 1 $ 13,411 $ 3,577 $ 2,982 $ 2,564 $ 3,135 $ — $ 12,258 Services 1,234 2,502 760 408 — 4,904 1,030 1,987 681 358 — 4,056 Consolidated net sales 5,396 5,701 3,263 3,954 1 18,315 4,607 4,969 3,245 3,493 — 16,314 Inter-segment sales 454 — 392 46 (892) — 404 — 325 65 (794) — Business segment sales $ 5,850 $ 5,701 $ 3,655 $ 4,000 $ (891) $ 18,315 $ 5,011 $ 4,969 $ 3,570 $ 3,558 $ (794) $ 16,314 Segment sales disaggregated by sales type for the six months ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Collins Aerospace Pratt & Whitney Raytheon Intelligence & Space Raytheon Missiles & Defense Other Total Products $ 8,162 $ 6,251 $ 5,013 $ 6,767 $ 5 $ 26,198 $ 7,059 $ 5,615 $ 5,168 $ 6,274 $ 4 $ 24,120 Services 2,397 4,679 1,444 811 — 9,331 2,013 3,883 1,330 684 — 7,910 Consolidated net sales $ 10,559 $ 10,930 $ 6,457 $ 7,578 $ 5 $ 35,529 $ 9,072 $ 9,498 $ 6,498 $ 6,958 $ 4 $ 32,030 Inter-segment sales 872 1 763 93 (1,729) — 763 — 644 127 (1,534) — Business segment sales $ 11,431 $ 10,931 $ 7,220 $ 7,671 $ (1,724) $ 35,529 $ 9,835 $ 9,498 $ 7,142 $ 7,085 $ (1,530) $ 32,030 RIS and RMD segment sales disaggregated by contract type for the quarters ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Raytheon Intelligence & Space Raytheon Missiles & Defense Raytheon Intelligence & Space Raytheon Missiles & Defense Fixed-price $ 1,368 $ 2,258 $ 1,353 $ 2,043 Cost-type 1,895 1,696 1,892 1,450 Consolidated net sales 3,263 3,954 3,245 3,493 Inter-segment sales 392 46 325 65 Business segment sales $ 3,655 $ 4,000 $ 3,570 $ 3,558 RIS and RMD segment sales disaggregated by contract type for the six months ended June 30, 2023 and 2022 are as follows: 2023 2022 (dollars in millions) Raytheon Intelligence & Space Raytheon Missiles & Defense Raytheon Intelligence & Space Raytheon Missiles & Defense Fixed-price $ 2,755 $ 4,353 $ 2,693 $ 4,118 Cost-type 3,702 3,225 3,805 2,840 Consolidated net sales 6,457 7,578 6,498 6,958 Inter-segments sales 763 93 644 127 Business segment sales $ 7,220 $ 7,671 $ 7,142 $ 7,085

Basis of Presentation (Details)

Basis of Presentation (Details) - Russia sanctions impact on Pratt & Whitney and Collins $ in Millions	3 Months Ended
	Mar. 31, 2022 USD ($)
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

Acquisitions, Dispositions, G_3

Acquisitions, Dispositions, Goodwill and Intangible Assets (General Information) (Details) $ in Billions	Jul. 20, 2023 USD ($)
Forecast [Member] | Subsequent Event [Member]
Business Acquisitions and Dispositions [Line Items]
Proceeds from Divestiture of Businesses	$ 1.8

Acquisition, Dispositions, Good

Acquisition, Dispositions, Goodwill and Intangible Assets (Goodwill) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Line Items]
Goodwill - Beginning Balance	$ 53,840
Goodwill - Acquisitions and Divestitures	0
Goodwill, Translation and Purchase Accounting Adjustments	282
Goodwill - Ending Balance	54,122
Collins Aerospace [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	30,719
Goodwill - Acquisitions and Divestitures	0
Goodwill, Translation and Purchase Accounting Adjustments	282
Goodwill - Ending Balance	31,001
Pratt & Whitney [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	1,563
Goodwill - Acquisitions and Divestitures	0
Goodwill, Translation and Purchase Accounting Adjustments	0
Goodwill - Ending Balance	1,563
Raytheon Intelligence & Space [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	9,841
Goodwill - Acquisitions and Divestitures	0
Goodwill, Translation and Purchase Accounting Adjustments	0
Goodwill - Ending Balance	9,841
Raytheon Missiles & Defense
Goodwill [Line Items]
Goodwill - Beginning Balance	11,700
Goodwill - Acquisitions and Divestitures	0
Goodwill, Translation and Purchase Accounting Adjustments	0
Goodwill - Ending Balance	11,700
Total Segments [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	53,823
Goodwill - Acquisitions and Divestitures	0
Goodwill, Translation and Purchase Accounting Adjustments	282
Goodwill - Ending Balance	54,105
Eliminations and other [Member]
Goodwill [Line Items]
Goodwill - Beginning Balance	17
Goodwill - Acquisitions and Divestitures	0
Goodwill, Translation and Purchase Accounting Adjustments	0
Goodwill - Ending Balance	$ 17

Acquisitions, Dispositions, G_4

Acquisitions, Dispositions, Goodwill and Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 39,873	$ 39,424
Accumulated Amortization	(12,303)	(11,242)
Indefinite-Lived: Trademarks and Other	8,664	8,641
Total Intangible Assets Gross Excluding Goodwill	48,537	48,065
Collaboration assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	5,663	5,536
Accumulated Amortization	(1,531)	(1,408)
Exclusivity assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	3,151	2,911
Accumulated Amortization	(343)	(323)
Developed technology and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1,220	1,202
Accumulated Amortization	(593)	(544)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	29,839	29,775
Accumulated Amortization	$ (9,836)	$ (8,967)

Acquisitions, Dispositions, G_5

Acquisitions, Dispositions, Goodwill and Intangible Assets (Amortization Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 510	$ 467	$ 1,019	$ 954
Amortization Expense, Remaining 2023	973		973
Amortization Expense, 2024	2,203		2,203
Amortization Expense, 2025	2,089		2,089
Amortization Expense, 2026	2,007		2,007
Amortization Expense, 2027	1,891		1,891
Amortization Expense, 2028	$ 1,776		$ 1,776

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income attributable to common shareowners:
Net income from continuing operations attributable to common shareowners	$ 1,327	$ 1,304	$ 2,753	$ 2,407
Loss from discontinued operations attributable to common shareowners	0	0	0	(19)
Net income attributable to common shareowners	$ 1,327	$ 1,304	$ 2,753	$ 2,388
Basic weighted average number of shares outstanding	1,457.5	1,479.2	1,459.9	1,482.9
Stock awards and equity units (share equivalent)	11.2	10.4	11.6	10.8
Diluted weighted average number of shares outstanding	1,468.7	1,489.6	1,471.5	1,493.7
Earnings (loss) Per Share attributable to common shareowners - Basic:
Income from continuing operations	$ 0.91	$ 0.88	$ 1.89	$ 1.62
Loss from discontinued operations	0	0	0	(0.01)
Earnings Per Share, Basic	0.91	0.88	1.89	1.61
Earnings (loss) Per Share attributable to common shareowners - Diluted:
Income from continuing operations	0.90	0.88	1.87	1.61
Loss from discontinued operations	0	0	0	(0.01)
Earnings Per Share, Diluted	$ 0.90	$ 0.88	$ 1.87	$ 1.60
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4	3.4	4	5.4

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Change in Accounting Estimate [Line Items]
Total net sales	$ (29)	$ (19)	$ (69)	$ 78
Operating profit	1,458	1,353	3,110	2,433
Net income from continuing operations attributable to common shareowners	$ 1,327	$ 1,304	$ 2,753	$ 2,407
Diluted earnings per share from continuing operations attributable to common shareowners (1)	$ 0.90	$ 0.88	$ 1.87	$ 1.61
Contracts Accounted for under Percentage of Completion [Member]
Change in Accounting Estimate [Line Items]
Operating profit	$ (30)	$ (41)	$ (154)	$ (5)
Net income from continuing operations attributable to common shareowners	$ (24)	$ (32)	$ (122)	$ (4)
Diluted earnings per share from continuing operations attributable to common shareowners (1)	$ (0.02)	$ (0.02)	$ (0.08)	$ 0

Accounts Receivable, Net (Sched

Accounts Receivable, Net (Schedule of Receivables, Net) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	$ 10,289	$ 9,560
Allowance for expected credit losses	(386)	(452)
Total accounts receivable, net	$ 9,903	$ 9,108

Contract Asset and Liability (D

Contract Asset and Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenue from contract with customer [Line Items]
Contract assets	$ 12,970		$ 12,970		$ 11,534
Contract liabilities	(15,162)		(15,162)		(14,598)
Net contract liabilities	(2,192)		(2,192)		(3,064)
Contract with Customer, Asset, Change			1,436
Contract with Customer, Liability, Change			564
Contract with Customer, Liability, Revenue Recognized	1,500	$ 1,200	3,400	$ 3,000
Advances received to date on contracts related to precision guided munitions to certain Middle Eastern customers pending U.S. government approval	405		405
Contract with Customer, Asset, Allowance for Credit Loss	$ 256		$ 256		$ 318

Inventory, Net (Details)

Inventory, Net (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 3,931	$ 3,477
Work-in-process	4,186	3,839
Finished goods	3,880	3,301
Inventory, net	$ 11,997	$ 10,617

Borrowing and Lines of Credit (

Borrowing and Lines of Credit (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Line of Credit Facility [Line Items]
Aggregate Line of Credit Agreements, Maximum Borrowing Capacity	$ 7,000
Borrowings outstanding	0
Maximum Commercial Paper Borrowing Authority	5,000
Commercial paper	$ 1,000		$ 500
Commercial Paper, Weighted Average Interest Rate	5.50%		4.40%
Proceeds from Issuance of Commercial Paper, Original Maturities Greater than 90 days	$ 0	$ 0
Repayments of Commercial Paper, Original Maturities Greater than 90 days	$ 200	$ 0
Average Years of Maturity of Long Term Debt	14 years
5.0B Revolving Credit Agreement [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,000
$2.0B September 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, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Other (including finance leases)	$ 262		$ 253
Long-term Debt, Gross	34,271		31,249
Other (fair market value adjustments, (discounts)/premiums, and debt issuance costs)	6		40
Total long-term debt	34,277		31,289
Less: current portion	1,554		595
Long-term debt, net of current portion	$ 32,723		30,694
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 5.000% Due 2026
Debt Instrument [Line Items]
Proceeds from Issuance of Debt	$ 500
Debt Instrument, Interest Rate, Stated Percentage	5%	5%
Debt Instrument, Maturity Date, Description	2026
Long-term Debt, Gross	$ 500		0
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	$ 544		531
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 5.150% Due 2033
Debt Instrument [Line Items]
Proceeds from Issuance of Debt	$ 1,250
Debt Instrument, Interest Rate, Stated Percentage	5.15%	5.15%
Debt Instrument, Maturity Date, Description	2033
Long-term Debt, Gross	$ 1,250		0
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
Notes 5.375% Due 2053
Debt Instrument [Line Items]
Proceeds from Issuance of Debt	$ 1,250
Debt Instrument, Interest Rate, Stated Percentage	5.375%	5.375%
Debt Instrument, Maturity Date, Description	2053
Long-term Debt, Gross	$ 1,250		$ 0

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
PRB plans	$ 8	$ 4	$ 12	$ 9
Defined contribution plans	317	251	689	562
Liability, Defined Benefit Plan, Current	307		307		$ 307
Liability, Defined Benefit Pension Plan, Noncurrent	4,579		4,579		4,807
Non-service pension income	(447)	(474)	(891)	(954)
Total net periodic benefit (income) expense			(778)	(714)
Marketable securities held in trusts	719		719		774
UNITED STATES
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plans	0	0	0	0
Foreign Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plans	20	18	28	30
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assets for Plan Benefits, Defined Benefit Plan	3,770		3,770		3,301
Liability, Defined Benefit Pension Plan, Noncurrent	3,914		3,914		4,133
Service cost	56	118	111	236
Interest cost	627	380	1,253	762
Expected return on plan assets	(938)	(888)	(1,875)	(1,778)
Amortization of prior service credit	(40)	(41)	(79)	(83)
Recognized actuarial net loss (gain)	(95)	77	(190)	154
Net settlement, curtailment and special termination benefit (gain) loss	0	0	2	(6)
Non-service pension income	(446)	(472)	(889)	(951)
Total net periodic benefit (income) expense	(390)	(354)	(778)	(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	605		605		611
Service cost	1	2	2	4
Interest cost	12	7	24	14
Expected return on plan assets	(5)	(6)	(10)	(11)
Amortization of prior service credit	0	0	0	0
Recognized actuarial net loss (gain)	(8)	(3)	(16)	(6)
Net settlement, curtailment and special termination benefit (gain) loss	0	0	0	0
Non-service pension income	(1)	(2)	(2)	(3)
Total net periodic benefit (income) expense	0	$ 0	0	$ 1
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	$ 60		$ 60		$ 63

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2023
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective Tax Rate	13.50%	10.70%	15.30%	10.10%
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	$ 250		$ 250
Minimum [Member] | Forecast [Member]
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective Income Tax Rate Reconciliation, Tax Settlement, Amount					$ 225
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	$ 350		$ 350
Maximum [Member] | Forecast [Member]
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible [Line Items]
Effective Income Tax Rate Reconciliation, Tax Settlement, Amount					$ 315

Financial Instruments (Details)

Financial Instruments (Details) € in Millions, $ in Millions	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount		$ 12,700	$ 11,200
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		197	67
Derivatives not designated as hedging instruments, Asset Derivatives		42	17
Other Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivatives designated as hedging instruments, Liability Derivatives		172	347
Derivatives not designated as hedging instruments, Liability Derivatives		$ 28	$ 39

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Hierarchy Classification) (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
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	$ 103	$ 169
Long-term debt (excluding finance leases)	34,180	31,201
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	719	774
Derivative assets	239	84
Derivative liabilities	200	386
Customer financing notes receivable	99	161
Long-term debt (excluding finance leases)	31,583	28,049
Marketable securities held in trusts	719	774
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	658	713
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	61	61
Derivative assets	239	84
Derivative liabilities	200	386
Customer financing notes receivable	99	161
Long-term debt (excluding finance leases)	31,537	28,003
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)	$ 46	$ 46

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Assets, Current	$ 45,915	$ 42,443
Total assets	162,161	158,864
Liabilities, Current	41,760	39,114
Total liabilities	88,074	84,650
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets, Current	7,895	7,609
Assets, Noncurrent	821	779
Total assets	8,716	8,388
Liabilities, Current	9,191	9,154
Liabilities, Noncurrent	24	19
Total liabilities	$ 9,215	$ 9,173
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, 2023	Jun. 30, 2022	Dec. 31, 2022
Product Warranty Liability [Line Items]
Balance as of January 1	$ 1,109	$ 1,157
Warranties and performance guarantees issued	124	128
Settlements	(160)	(131)
Other	6	(11)
Balance as of June 30	1,079	$ 1,143
Commercial Aerospace Financing Arrangements
Product Warranty Liability [Line Items]
Maximum Potential Payment	304		$ 304
Carrying Amount of Liability	0		0
Third Party Guarantees
Product Warranty Liability [Line Items]
Maximum Potential Payment	405		335
Carrying Amount of Liability	1		1
Commercial Aerospace [Member]
Product Warranty Liability [Line Items]
Partner Share of Guarantor Obligations, Maximum Exposure, Undiscounted	140		140
Guarantee Type, Other
Product Warranty Liability [Line Items]
Carrying Amount of Liability	$ 95		$ 97

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	$ 773	$ 798
Other Commitment	12,800
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	934
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	143
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	109
Department of Justice Claim Against Raytheon Missiles & Defense
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	295
Other Financing Arrangements [Member]
Loss Contingencies [Line Items]
Other Commitment	3,200
Commercial Aerospace [Member]
Loss Contingencies [Line Items]
Financing and other contractual commitments	$ 14,800	$ 15,300

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, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (1,502)	$ (2,931)	$ (1,502)	$ (2,931)	$ (1,989)	$ (2,018)	$ (2,115)	$ (1,915)
Other comprehensive (loss) income before reclassifications, net - Foreign Currency Translation	404	(708)	526	(950)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment and Tax	(40)	14	(44)	3
Other comprehensive (loss) income before reclassifications, net - Unrealized Hedging Gains (Losses)	260	(199)	233	(168)
Other comprehensive (loss) income before reclassifications, net	624	(893)	715	(1,115)
Amounts reclassified, pretax - Foreign Currency Translation	0	0	0	2
Amounts reclassified, pretax - Defined Benefit Plan	(143)	33	(285)	65
Amounts reclassified, pretax - Unrealized Hedging Gains (Losses)	25	17	64	23
Amounts reclassified, pre-tax	(118)	50	(221)	90
Tax benefit (expense) - Foreign Currency Translation	2	(6)	3	(9)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	38	(8)	76	(12)
Tax benefit (expense) - Unrealized Hedging Gains (Losses)	(59)	41	(57)	30
Income tax (expense) benefit related to items of other comprehensive income (loss)	(19)	27	22	9
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(476)	(908)	(476)	(908)	(882)	(1,005)	(194)	49
Defined Benefit Pension and Post-retirement Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(1,035)	(1,772)	(1,035)	(1,772)	(890)	(782)	(1,811)	(1,828)
Unrealized hedging (losses) gains
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 9	$ (251)	$ 9	$ (251)	$ (217)	$ (231)	$ (110)	$ (136)

Segment Financial Data (Segment

Segment Financial Data (Segment Operating Performance) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 18,315	$ 16,314	$ 35,529	$ 32,030
Operating profit	$ 1,458	$ 1,353	$ 3,110	$ 2,433
Operating Profit Margin	8%	8.30%	8.80%	7.60%
Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 19,206	$ 17,108	$ 37,253	$ 33,560
Operating profit	$ 1,757	$ 1,511	$ 3,618	$ 2,867
Operating Profit Margin	9.10%	8.80%	9.70%	8.50%
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	$ (891)	$ (794)	$ (1,724)	$ (1,530)
Operating profit	(60)	(47)	(47)	(81)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating profit	(59)	(42)	(102)	(178)
Collins Aerospace [Member]
Segment Reporting Information [Line Items]
Revenues	5,850	5,011	11,431	9,835
Operating profit	$ 821	$ 546	$ 1,615	$ 986
Operating Profit Margin	14%	10.90%	14.10%	10%
Collins Aerospace [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 5,396	$ 4,607	$ 10,559	$ 9,072
Collins Aerospace [Member] | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	454	404	872	763
Pratt & Whitney [Member]
Segment Reporting Information [Line Items]
Revenues	5,701	4,969	10,931	9,498
Operating profit	$ 230	$ 302	$ 645	$ 453
Operating Profit Margin	4%	6.10%	5.90%	4.80%
Pratt & Whitney [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 5,701	$ 4,969	$ 10,930	$ 9,498
Pratt & Whitney [Member] | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	0	0	1	0
Raytheon Intelligence & Space [Member]
Segment Reporting Information [Line Items]
Revenues	3,655	3,570	7,220	7,142
Operating profit	$ 291	$ 315	$ 615	$ 693
Operating Profit Margin	8%	8.80%	8.50%	9.70%
Raytheon Intelligence & Space [Member] | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 3,263	$ 3,245	$ 6,457	$ 6,498
Raytheon Intelligence & Space [Member] | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	392	325	763	644
Raytheon Missiles & Defense
Segment Reporting Information [Line Items]
Revenues	4,000	3,558	7,671	7,085
Operating profit	$ 415	$ 348	$ 743	$ 735
Operating Profit Margin	10.40%	9.80%	9.70%	10.40%
Raytheon Missiles & Defense | Operating Segments
Segment Reporting Information [Line Items]
Revenues	$ 3,954	$ 3,493	$ 7,578	$ 6,958
Raytheon Missiles & Defense | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	46	65	93	127
FAS/CAS Operating Adjustment | Segment Reconciling Items
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating profit	309	379	623	757
Acquisition accounting adjustment member | Segment Reconciling Items
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating profit	$ (489)	$ (448)	$ (982)	$ (932)

Segment Financial Data (Disaggr

Segment Financial Data (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 18,315	$ 16,314	$ 35,529	$ 32,030
Product [Member]
Segment Reporting Information [Line Items]
Revenues	13,411	12,258	26,198	24,120
Service [Member]
Segment Reporting Information [Line Items]
Revenues	4,904	4,056	9,331	7,910
U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	7,958	7,559	15,515	14,897
Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	1,241	1,181	2,503	2,357
Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	1,089	1,095	2,093	2,054
Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	8,027	6,479	15,418	12,722
UNITED STATES
Segment Reporting Information [Line Items]
Revenues	11,227	10,185	21,775	19,915
Europe [Member]
Segment Reporting Information [Line Items]
Revenues	3,286	2,678	6,276	5,250
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	2,109	1,808	4,159	3,665
Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	851	869	1,614	1,698
Other [Member]
Segment Reporting Information [Line Items]
Revenues	842	774	1,705	1,502
Collins Aerospace [Member]
Segment Reporting Information [Line Items]
Revenues	5,850	5,011	11,431	9,835
Collins Aerospace [Member] | Product [Member]
Segment Reporting Information [Line Items]
Revenues	4,162	3,577	8,162	7,059
Collins Aerospace [Member] | Service [Member]
Segment Reporting Information [Line Items]
Revenues	1,234	1,030	2,397	2,013
Collins Aerospace [Member] | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	1,112	1,023	2,244	2,074
Collins Aerospace [Member] | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	41	53	94	107
Collins Aerospace [Member] | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	259	263	499	514
Collins Aerospace [Member] | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	3,984	3,268	7,722	6,377
Collins Aerospace [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	2,785	2,458	5,433	4,707
Collins Aerospace [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	1,506	1,270	2,964	2,584
Collins Aerospace [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	568	455	1,124	952
Collins Aerospace [Member] | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	176	119	332	231
Collins Aerospace [Member] | Other [Member]
Segment Reporting Information [Line Items]
Revenues	361	305	706	598
Pratt & Whitney [Member]
Segment Reporting Information [Line Items]
Revenues	5,701	4,969	10,931	9,498
Pratt & Whitney [Member] | Product [Member]
Segment Reporting Information [Line Items]
Revenues	3,199	2,982	6,251	5,615
Pratt & Whitney [Member] | Service [Member]
Segment Reporting Information [Line Items]
Revenues	2,502	1,987	4,679	3,883
Pratt & Whitney [Member] | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	1,313	1,417	2,535	2,591
Pratt & Whitney [Member] | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	352	304	684	501
Pratt & Whitney [Member] | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	102	116	220	219
Pratt & Whitney [Member] | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	3,934	3,132	7,491	6,187
Pratt & Whitney [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	2,847	2,562	5,478	4,874
Pratt & Whitney [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	1,345	1,057	2,465	1,936
Pratt & Whitney [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	972	825	1,877	1,698
Pratt & Whitney [Member] | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	104	112	214	190
Pratt & Whitney [Member] | Other [Member]
Segment Reporting Information [Line Items]
Revenues	433	413	896	800
Raytheon Intelligence & Space [Member]
Segment Reporting Information [Line Items]
Revenues	3,655	3,570	7,220	7,142
Raytheon Intelligence & Space [Member] | Fixed-price Contract
Segment Reporting Information [Line Items]
Revenues	1,368	1,353	2,755	2,693
Raytheon Intelligence & Space [Member] | Cost-type Contract
Segment Reporting Information [Line Items]
Revenues	1,895	1,892	3,702	3,805
Raytheon Intelligence & Space [Member] | Product [Member]
Segment Reporting Information [Line Items]
Revenues	2,503	2,564	5,013	5,168
Raytheon Intelligence & Space [Member] | Service [Member]
Segment Reporting Information [Line Items]
Revenues	760	681	1,444	1,330
Raytheon Intelligence & Space [Member] | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	2,809	2,805	5,551	5,617
Raytheon Intelligence & Space [Member] | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	144	149	305	309
Raytheon Intelligence & Space [Member] | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	206	212	407	416
Raytheon Intelligence & Space [Member] | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	104	79	194	156
Raytheon Intelligence & Space [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	2,867	2,852	5,673	5,718
Raytheon Intelligence & Space [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	109	103	217	210
Raytheon Intelligence & Space [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	214	190	427	353
Raytheon Intelligence & Space [Member] | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	44	62	80	143
Raytheon Intelligence & Space [Member] | Other [Member]
Segment Reporting Information [Line Items]
Revenues	29	38	60	74
Raytheon Missiles & Defense
Segment Reporting Information [Line Items]
Revenues	4,000	3,558	7,671	7,085
Raytheon Missiles & Defense | Fixed-price Contract
Segment Reporting Information [Line Items]
Revenues	2,258	2,043	4,353	4,118
Raytheon Missiles & Defense | Cost-type Contract
Segment Reporting Information [Line Items]
Revenues	1,696	1,450	3,225	2,840
Raytheon Missiles & Defense | Product [Member]
Segment Reporting Information [Line Items]
Revenues	3,546	3,135	6,767	6,274
Raytheon Missiles & Defense | Service [Member]
Segment Reporting Information [Line Items]
Revenues	408	358	811	684
Raytheon Missiles & Defense | U.S. Government Sales Excluding Foreign Military Sales Member
Segment Reporting Information [Line Items]
Revenues	2,723	2,314	5,180	4,611
Raytheon Missiles & Defense | Foreign Military Sales Through the U.S. Government Member
Segment Reporting Information [Line Items]
Revenues	704	675	1,420	1,440
Raytheon Missiles & Defense | Foreign Government Direct Commercial Sales Member
Segment Reporting Information [Line Items]
Revenues	522	504	967	905
Raytheon Missiles & Defense | Commercial Aerospace and Other Commercial Member
Segment Reporting Information [Line Items]
Revenues	5	0	11	2
Raytheon Missiles & Defense | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	2,727	2,313	5,186	4,612
Raytheon Missiles & Defense | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	326	248	630	520
Raytheon Missiles & Defense | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Revenues	355	338	731	662
Raytheon Missiles & Defense | Middle East and North Africa Member
Segment Reporting Information [Line Items]
Revenues	527	576	988	1,134
Raytheon Missiles & Defense | Other [Member]
Segment Reporting Information [Line Items]
Revenues	19	18	43	30
Other Segments
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Other Segments | Product [Member]
Segment Reporting Information [Line Items]
Revenues	1	0	5	4
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	1	0	5	4
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	0	0	0
Other Segments | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	1	0	5	4
Other Segments | Europe [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
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 | Other [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments
Segment Reporting Information [Line Items]
Revenues	19,206	17,108	37,253	33,560
Operating Segments | Collins Aerospace [Member]
Segment Reporting Information [Line Items]
Revenues	5,396	4,607	10,559	9,072
Operating Segments | Pratt & Whitney [Member]
Segment Reporting Information [Line Items]
Revenues	5,701	4,969	10,930	9,498
Operating Segments | Raytheon Intelligence & Space [Member]
Segment Reporting Information [Line Items]
Revenues	3,263	3,245	6,457	6,498
Operating Segments | Raytheon Missiles & Defense
Segment Reporting Information [Line Items]
Revenues	3,954	3,493	7,578	6,958
Operating Segments | Other Segments
Segment Reporting Information [Line Items]
Revenues	1	0	5	4
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues	(891)	(794)	(1,724)	(1,530)
Intersegment Eliminations | Collins Aerospace [Member]
Segment Reporting Information [Line Items]
Revenues	454	404	872	763
Intersegment Eliminations | Pratt & Whitney [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	1	0
Intersegment Eliminations | Raytheon Intelligence & Space [Member]
Segment Reporting Information [Line Items]
Revenues	392	325	763	644
Intersegment Eliminations | Raytheon Missiles & Defense
Segment Reporting Information [Line Items]
Revenues	46	65	93	127
Intersegment Eliminations | Other Segments
Segment Reporting Information [Line Items]
Revenues	$ (892)	$ (794)	$ (1,729)	$ (1,534)

Remaining Performance Obligat_2

Remaining Performance Obligations (RPO) (Details) $ in Billions	6 Months Ended
	Jun. 30, 2023 USD ($)
Remaining Performance Obligation [Line Items]
RPO	$ 185
RPO to be recognized within 12 months	30%
Revenue, Remaining Performance Obligations, RPO related to long-term commercial aerospace maintenance contracts at Pratt & Whitney	45%
Revenue, Remaining Performance Obligation, general span of Pratt & Whitney long-term commercial aerospace maintenance contracts, in years	15 years