Exhibit 99.1
Five Year Summary
IN MILLIONS OF DOLLARS, EXCEPT PER SHARE AMOUNTS | 2004 | 2003 | 2002 | 2001 | 2000 | |||||||||||||||
For the year | ||||||||||||||||||||
Revenues | $ | 37,445 | $ | 31,034 | $ | 28,212 | $ | 27,897 | $ | 26,583 | ||||||||||
Research and development | 1,267 | 1,040 | 1,203 | 1,264 | 1,309 | |||||||||||||||
Net income | 2,673 | 2,236 | 2,118 | 1,836 | 1,734 | |||||||||||||||
Earnings per share: | ||||||||||||||||||||
Basic: | ||||||||||||||||||||
Net earnings | 5.39 | 4.67 | 4.42 | 3.84 | 3.62 | |||||||||||||||
Net earnings adjusted for SFAS No. 142 | 4.29 | 4.02 | ||||||||||||||||||
Diluted: | ||||||||||||||||||||
Net earnings | 5.29 | 4.44 | 4.19 | 3.64 | 3.41 | |||||||||||||||
Net earnings adjusted for SFAS No. 142 | 4.05 | 3.78 | ||||||||||||||||||
Cash dividends per common share | 1.40 | 1.14 | .98 | .90 | .825 | |||||||||||||||
Average number of shares of Common Stock outstanding: | ||||||||||||||||||||
Basic | 496.4 | 473.8 | 472.4 | 470.2 | 470.1 | |||||||||||||||
Diluted | 505.4 | 502.9 | 505.6 | 505.4 | 508.0 | |||||||||||||||
Cash flow from operations | 3,596 | 2,827 | 2,829 | 2,917 | 2,569 | |||||||||||||||
Voluntary pension contributions(1) | 906 | 994 | 530 | |||||||||||||||||
Capital expenditures | 795 | 530 | 586 | 793 | 937 | |||||||||||||||
Acquisitions, including debt assumed | 1,295 | 2,305 | 424 | 525 | 1,340 | |||||||||||||||
Share repurchase | 992 | 401 | 700 | 599 | 800 | |||||||||||||||
Dividends on Common Stock(3) | 660 | 533 | 462 | 423 | 387 | |||||||||||||||
At year end | ||||||||||||||||||||
Working capital | $ | 2,575 | $ | 2,069 | $ | 4,050 | $ | 3,094 | $ | 1,864 | ||||||||||
Total assets | 40,293 | 35,520 | 29,986 | 27,717 | 25,962 | |||||||||||||||
Long-term debt, including current portion | 4,271 | 4,632 | 4,676 | 4,371 | 3,772 | |||||||||||||||
Total debt | 5,591 | 5,301 | 4,873 | 4,959 | 4,811 | |||||||||||||||
Debt to total capitalization | 28 | % | 31 | % | 36 | % | 37 | % | 38 | % | ||||||||||
ESOP Preferred Stock, net(2) | 428 | 429 | 432 | |||||||||||||||||
Shareowners’ equity | 14,266 | 11,953 | 8,557 | 8,515 | 7,763 | |||||||||||||||
Number of employees | 209,700 | 203,300 | 155,000 | 152,000 | 153,800 |
Note: During 2003, UTC acquired Chubb plc, which is reported as a separate segment.
(1) | Represents cash contributions, in addition, during 2002 and 2001, UTC contributed Treasury Stock of $253 million and $247 million, respectively, to its domestic defined benefit pension plans. |
(2) | During 2003, UTC converted all of its outstanding shares of ESOP Preferred Stock into Common Stock. |
(3) | Excludes dividends paid on ESOP stock. |
Certain reclassifications have been made to prior year amounts to conform to the current year presentation.