| Schedule of Segment Reporting Information by Segment |
Results for the quarters ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | 2026 | | (dollars in millions) | Net Sales | Research and Development | Other Segment Items (1) | Operating Profit | Operating Profit Margin | | Collins Aerospace | $ | 8,210 | | $ | (334) | | $ | (6,570) | | $ | 1,306 | | 15.9 | % | | Pratt & Whitney | 8,889 | | (252) | | (7,899) | | 738 | | 8.3 | % | | Raytheon | 8,269 | | (140) | | (7,087) | | 1,042 | | 12.6 | % | | Total segment | 25,368 | | $ | (726) | | $ | (21,556) | | 3,086 | | 12.2 | % | Eliminations and other (2) | (660) | | | | 98 | | | | Corporate expenses and other unallocated items | — | | | | (70) | | | | FAS/CAS operating adjustment | — | | | | 171 | | | | Acquisition accounting adjustments | — | | | | (474) | | | | Consolidated | $ | 24,708 | | | | $ | 2,811 | | 11.4 | % |
(1) Includes Cost of sales, Selling, general, and administrative expenses, and Other income, net. (2) Includes the operating results of certain smaller operations.
| | | | | | | | | | | | | | | | | | | 2025 | | (dollars in millions) | Net Sales | Research and Development | Other Segment Items (1) | Operating Profit | Operating Profit Margin | | Collins Aerospace | $ | 7,622 | | $ | (329) | | $ | (6,120) | | $ | 1,173 | | 15.4 | % | | Pratt & Whitney | 7,631 | | (249) | | (6,890) | | 492 | | 6.4 | % | | Raytheon | 7,001 | | (121) | | (6,075) | | 805 | | 11.5 | % | | Total segment | 22,254 | | $ | (699) | | $ | (19,085) | | 2,470 | | 11.1 | % | Eliminations and other (2) | (673) | | | | 24 | | | | Corporate expenses and other unallocated items | — | | | | (47) | | | | FAS/CAS operating adjustment | — | | | | 186 | | | | Acquisition accounting adjustments | — | | | | (487) | | | | Consolidated | $ | 21,581 | | | | $ | 2,146 | | 9.9 | % |
(1) Includes Cost of sales, Selling, general, and administrative expenses, and Other income, net. (2) Includes the operating results of certain smaller operations. Results for the six months ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | 2026 | | (dollars in millions) | Net Sales | Research and Development | Other Segment Items (1) | Operating Profit | Operating Profit Margin | | Collins Aerospace | $ | 15,812 | | $ | (629) | | $ | (12,570) | | $ | 2,613 | | 16.5 | % | | Pratt & Whitney | 17,062 | | (472) | | (15,142) | | 1,448 | | 8.5 | % | | Raytheon | 15,214 | | (254) | | (13,077) | | 1,883 | | 12.4 | % | | Total segment | 48,088 | | $ | (1,355) | | $ | (40,789) | | 5,944 | | 12.4 | % | Eliminations and other (2) | (1,304) | | | | 136 | | | | Corporate expenses and other unallocated items | — | | | | (112) | | | | FAS/CAS operating adjustment | — | | | | 343 | | | | Acquisition accounting adjustments | — | | | | (945) | | | | Consolidated | $ | 46,784 | | | | $ | 5,366 | | 11.5 | % |
(1) Includes Cost of sales, Selling, general, and administrative expenses, and Other income, net. (2) Includes the operating results of certain smaller operations. | | | | | | | | | | | | | | | | | | | 2025 | | (dollars in millions) | Net Sales | Research and Development | Other Segment Items (1) | Operating Profit | Operating Profit Margin | | Collins Aerospace | $ | 14,839 | | $ | (641) | | $ | (11,937) | | $ | 2,261 | | 15.2 | % | | Pratt & Whitney | 14,997 | | (479) | | (13,446) | | 1,072 | | 7.1 | % | | Raytheon | 13,341 | | (219) | | (11,639) | | 1,483 | | 11.1 | % | | Total segment | 43,177 | | $ | (1,339) | | $ | (37,022) | | 4,816 | | 11.2 | % | Eliminations and other (2) | (1,290) | | | | 36 | | | | Corporate expenses and other unallocated items | — | | | | (85) | | | | FAS/CAS operating adjustment | — | | | | 371 | | | | Acquisition accounting adjustments | — | | | | (957) | | | | Consolidated | $ | 41,887 | | | | $ | 4,181 | | 10.0 | % |
(1) Includes Cost of sales, Selling, general, and administrative expenses, and Other income, net. (2) Includes the operating results of certain smaller operations. Capital Expenditures and Depreciation and Amortization segment information for the quarters ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Capital Expenditures | | Depreciation & Amortization | | (dollars in millions) | 2026 | | 2025 | | 2026 | | 2025 | | Collins Aerospace | $ | 219 | | | $ | 171 | | | $ | 230 | | | $ | 220 | | | Pratt & Whitney | 193 | | | 180 | | | 203 | | | 194 | | | Raytheon | 194 | | | 134 | | | 133 | | | 135 | | | Total segment | 606 | | | 485 | | | 566 | | | 549 | | | Corporate, eliminations, and other | 63 | | | 45 | | | 25 | | | 21 | | | Acquisition accounting adjustments | | | | | 488 | | | 506 | | | | | | | | | | | Consolidated | $ | 669 | | | $ | 530 | | | $ | 1,079 | | | $ | 1,076 | |
Capital Expenditures and Depreciation and Amortization segment information for the six months ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Capital Expenditures | | Depreciation & Amortization | | (dollars in millions) | 2026 | | 2025 | | 2026 | | 2025 | | Collins Aerospace | $ | 374 | | | $ | 283 | | | $ | 462 | | | $ | 437 | | | Pratt & Whitney | 367 | | | 333 | | | 404 | | | 388 | | Raytheon | 365 | | | 359 | | | 259 | | | 266 | | Total segment | 1,106 | | | 975 | | | 1,125 | | | 1,091 | | | Corporate, eliminations, and other | 109 | | | 68 | | | 49 | | | 42 | | Acquisition accounting adjustments | | | | | 976 | | | 995 | | | | | | | | | | | Consolidated | $ | 1,215 | | | $ | 1,043 | | | $ | 2,150 | | | $ | 2,128 | |
Total assets by segment are as follows: | | | | | | | | | | | | | (dollars in millions) | June 30, 2026 | | December 31, 2025 | Collins Aerospace (1) | $ | 71,451 | | | $ | 71,680 | | Pratt & Whitney (1) | 54,656 | | | 52,482 | | Raytheon (1) | 44,858 | | | 44,795 | | | Total segment | 170,965 | | | 168,957 | | | Corporate, eliminations, and other | 3,007 | | | 2,122 | | | | | | | | | | | Consolidated | $ | 173,972 | | | $ | 171,079 | |
(1) Total assets include acquired intangible assets and the property, plant, and equipment fair value adjustment. Related amortization expense is included in Acquisition accounting adjustments.
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| Schedule of Disaggregation of Revenue |
Segment sales disaggregated by geographic region based on customer location for the quarters ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | (dollars in millions) | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | United States | $ | 3,949 | | $ | 3,305 | | $ | 5,784 | | $ | 55 | | $ | 13,093 | | | $ | 3,514 | | $ | 3,260 | | $ | 4,909 | | $ | 54 | | $ | 11,737 | | | Europe | 1,829 | | 2,325 | | 1,196 | | — | | 5,350 | | | 1,750 | | 1,539 | | 916 | | — | | 4,205 | | | Asia Pacific | 1,039 | | 2,005 | | 612 | | — | | 3,656 | | | 934 | | 1,870 | | 606 | | — | | 3,410 | | | Middle East and North Africa | 264 | | 208 | | 570 | | — | | 1,042 | | | 271 | | 150 | | 483 | | — | | 904 | | | Other regions | 471 | | 1,038 | | 58 | | — | | 1,567 | | | 460 | | 812 | | 53 | | — | | 1,325 | | | | | | | | | | | | | | | Consolidated net sales | 7,552 | | 8,881 | | 8,220 | | 55 | | 24,708 | | | 6,929 | | 7,631 | | 6,967 | | 54 | | 21,581 | | | Inter-segment sales | 658 | | 8 | | 49 | | (715) | | — | | | 693 | | — | | 34 | | (727) | | — | | | Business segment sales | $ | 8,210 | | $ | 8,889 | | $ | 8,269 | | $ | (660) | | $ | 24,708 | | | $ | 7,622 | | $ | 7,631 | | $ | 7,001 | | $ | (673) | | $ | 21,581 | |
Segment sales disaggregated by geographic region for the six months ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | (dollars in millions) | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | United States | $ | 7,628 | | $ | 6,908 | | $ | 10,362 | | $ | 108 | | $ | 25,006 | | | $ | 6,862 | | $ | 6,678 | | $ | 9,356 | | $ | 107 | | $ | 23,003 | | | Europe | 3,577 | | 4,264 | | 2,389 | | 2 | | 10,232 | | | 3,480 | | 3,378 | | 1,759 | | 1 | | 8,618 | | | Asia Pacific | 1,873 | | 3,404 | | 1,183 | | — | | 6,460 | | | 1,760 | | 3,111 | | 1,131 | | — | | 6,002 | | | Middle East and North Africa | 464 | | 451 | | 1,057 | | — | | 1,972 | | | 510 | | 325 | | 917 | | — | | 1,752 | | | Other regions | 944 | | 2,027 | | 143 | | — | | 3,114 | | | 904 | | 1,504 | | 104 | | — | | 2,512 | | | | | | | | | | | | | | | Consolidated net sales | 14,486 | | 17,054 | | 15,134 | | 110 | | 46,784 | | | 13,516 | | 14,996 | | 13,267 | | 108 | | 41,887 | | | Inter-segment sales | 1,326 | | 8 | | 80 | | (1,414) | | — | | | 1,323 | | 1 | | 74 | | (1,398) | | — | | | Business segment sales | $ | 15,812 | | $ | 17,062 | | $ | 15,214 | | $ | (1,304) | | $ | 46,784 | | | $ | 14,839 | | $ | 14,997 | | $ | 13,341 | | $ | (1,290) | | $ | 41,887 | |
Segment sales disaggregated by type of customer for the quarters ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | (dollars in millions) | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | Sales to the U.S. government (1) | $ | 1,871 | | $ | 1,606 | | $ | 5,768 | | $ | 53 | | $ | 9,298 | | | $ | 1,852 | | $ | 1,470 | | $ | 4,900 | | $ | 51 | | $ | 8,273 | | | Foreign military sales through the U.S. government | 107 | | 703 | | 1,210 | | — | | 2,020 | | | 104 | | 404 | | 1,127 | | — | | 1,635 | | | Foreign government direct commercial sales | 275 | | 210 | | 1,228 | | 5 | | 1,718 | | | 321 | | 180 | | 932 | | — | | 1,433 | | | Commercial aerospace and other commercial sales | 5,299 | | 6,362 | | 14 | | (3) | | 11,672 | | | 4,652 | | 5,577 | | 8 | | 3 | | 10,240 | | | Consolidated net sales | 7,552 | | 8,881 | | 8,220 | | 55 | | 24,708 | | | 6,929 | | 7,631 | | 6,967 | | 54 | | 21,581 | | | Inter-segment sales | 658 | | 8 | | 49 | | (715) | | — | | | 693 | | — | | 34 | | (727) | | — | | | Business segment sales | $ | 8,210 | | $ | 8,889 | | $ | 8,269 | | $ | (660) | | $ | 24,708 | | | $ | 7,622 | | $ | 7,631 | | $ | 7,001 | | $ | (673) | | $ | 21,581 | |
(1) Excludes foreign military sales through the U.S. government. Segment sales disaggregated by type of customer for the six months ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | (dollars in millions) | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | Sales to the U.S. government (1) | $ | 3,588 | | $ | 3,279 | | $ | 10,296 | | $ | 105 | | $ | 17,268 | | | $ | 3,511 | | $ | 3,055 | | $ | 9,335 | | $ | 104 | | $ | 16,005 | | | Foreign military sales through the U.S. government | 242 | | 1,114 | | 2,445 | | — | | 3,801 | | | 220 | | 783 | | 2,103 | | — | | 3,106 | | | Foreign government direct commercial sales | 541 | | 390 | | 2,328 | | 6 | | 3,265 | | | 648 | | 328 | | 1,808 | | 1 | | 2,785 | | | Commercial aerospace and other commercial sales | 10,115 | | 12,271 | | 65 | | (1) | | 22,450 | | | 9,137 | | 10,830 | | 21 | | 3 | | 19,991 | | | Consolidated net sales | 14,486 | | 17,054 | | 15,134 | | 110 | | 46,784 | | | 13,516 | | 14,996 | | 13,267 | | 108 | | 41,887 | | | Inter-segment sales | 1,326 | | 8 | | 80 | | (1,414) | | — | | | 1,323 | | 1 | | 74 | | (1,398) | | — | | | Business segment sales | $ | 15,812 | | $ | 17,062 | | $ | 15,214 | | $ | (1,304) | | $ | 46,784 | | | $ | 14,839 | | $ | 14,997 | | $ | 13,341 | | $ | (1,290) | | $ | 41,887 | |
(1) Excludes foreign military sales through the U.S. government as above. Segment sales disaggregated by sales type for the quarters ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | (dollars in millions) | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | Products | $ | 5,941 | | $ | 4,660 | | $ | 7,297 | | $ | 46 | | $ | 17,944 | | | $ | 5,408 | | $ | 4,123 | | $ | 5,975 | | $ | 45 | | $ | 15,551 | | | Services | 1,611 | | 4,221 | | 923 | | 9 | | 6,764 | | | 1,521 | | 3,508 | | 992 | | 9 | | 6,030 | | | Consolidated net sales | 7,552 | | 8,881 | | 8,220 | | 55 | | 24,708 | | | 6,929 | | 7,631 | | 6,967 | | 54 | | 21,581 | | | Inter-segment sales | 658 | | 8 | | 49 | | (715) | | — | | | 693 | | — | | 34 | | (727) | | — | | | Business segment sales | $ | 8,210 | | $ | 8,889 | | $ | 8,269 | | $ | (660) | | $ | 24,708 | | | $ | 7,622 | | $ | 7,631 | | $ | 7,001 | | $ | (673) | | $ | 21,581 | |
Segment sales disaggregated by sales type for the six months ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2026 | | 2025 | | (dollars in millions) | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | Collins Aerospace | Pratt & Whitney | Raytheon | Other | Total | | Products | $ | 11,365 | | $ | 8,948 | | $ | 13,303 | | $ | 93 | | $ | 33,709 | | | $ | 10,518 | | $ | 8,155 | | $ | 11,381 | | $ | 88 | | $ | 30,142 | | | Services | 3,121 | | 8,106 | | 1,831 | | 17 | | 13,075 | | | 2,998 | | 6,841 | | 1,886 | | 20 | | 11,745 | | | Consolidated net sales | 14,486 | | 17,054 | | 15,134 | | 110 | | 46,784 | | | 13,516 | | 14,996 | | 13,267 | | 108 | | 41,887 | | | Inter-segment sales | 1,326 | | 8 | | 80 | | (1,414) | | — | | | 1,323 | | 1 | | 74 | | (1,398) | | — | | | Business segment sales | $ | 15,812 | | $ | 17,062 | | $ | 15,214 | | $ | (1,304) | | $ | 46,784 | | | $ | 14,839 | | $ | 14,997 | | $ | 13,341 | | $ | (1,290) | | $ | 41,887 | |
Raytheon segment sales disaggregated by contract type for the quarters ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | (dollars in millions) | 2026 | | 2025 | | | | | | Fixed-price | $ | 5,106 | | | $ | 3,991 | | | Cost-type | 3,114 | | | 2,976 | | | Consolidated net sales | 8,220 | | | 6,967 | | | Inter-segment sales | 49 | | | 34 | | | Business segment sales | $ | 8,269 | | | $ | 7,001 | |
Raytheon segment sales disaggregated by contract type for the six months ended June 30, 2026 and 2025 are as follows: | | | | | | | | | | | | | (dollars in millions) | 2026 | | 2025 | | Fixed-price | $ | 9,168 | | | $ | 7,596 | | | Cost-type | 5,966 | | | 5,671 | | | Consolidated net sales | 15,134 | | | 13,267 | | | Inter-segment sales | 80 | | | 74 | | | Business segment sales | $ | 15,214 | | | $ | 13,341 | |
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