← RTX Corp
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $5.1b | $4.6b | $5.3b | $5.5b | ($3.5b) | $3.9b | $5.2b | $3.2b | $4.8b | $6.7b | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $5.4b | $4.9b | $5.7b | $5.9b | ($3.3b) | $4.1b | $5.3b | $3.4b | $5.0b | $7.1b | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $5.1b | $4.6b | $5.3b | — | ($3.1b) | $3.9b | $5.2b | $3.2b | $4.8b | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | $5.4b | $4.9b | $5.7b | $5.9b | ($2.9b) | $4.1b | $5.3b | $3.4b | $5.0b | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($10.0m) | $0 | $0 | — | ($367.0m) | ($33.0m) | ($19.0m) | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ($10.0m) | $0 | $0 | — | ($410.0m) | ($33.0m) | ($19.0m) | $0 | $0 | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | — | — | $337.0m | |
| Depreciation, Depletion and Amortization | $2.0b | $2.1b | $2.4b | $3.8b | $4.2b | $4.6b | $4.1b | $4.2b | $4.4b | $4.4b | |
| Amortization of Intangible Assets | $778.0m | $834.0m | $976.0m | $1.5b | $2.1b | $2.4b | $2.0b | $2.1b | $2.2b | $2.1b | |
| Depreciation | $1.1b | $1.2b | $1.2b | $1.5b | $1.8b | $1.8b | $1.8b | $1.8b | $1.8b | $1.9b | |
| Depreciation, Amortization and Accretion, Net | $2.0b | $2.1b | $2.4b | $3.8b | $4.2b | $4.6b | $4.1b | $4.2b | $4.4b | $4.4b | |
| Deferred Income Tax Expense (Benefit) | $398.0m | $62.0m | $735.0m | $35.0m | ($99.0m) | ($88.0m) | ($1.7b) | ($402.0m) | ($47.0m) | $789.0m | |
| Deferred income tax provision (benefit) | $398.0m | $62.0m | $735.0m | $35.0m | ($99.0m) | ($88.0m) | ($1.7b) | ($402.0m) | ($47.0m) | $789.0m | |
| Share-based Payment Arrangement, Noncash Expense | $152.0m | $192.0m | $251.0m | $356.0m | $330.0m | $442.0m | $420.0m | $425.0m | $437.0m | $519.0m | |
| Goodwill, Impairment Loss | — | — | — | — | $3.2b | $0 | $0 | — | — | — | |
| Share-based Payment Arrangement, Expensed and Capitalized, Amount | $153.0m | $192.0m | $251.0m | $356.0m | $330.0m | $442.0m | $420.0m | $425.0m | $437.0m | $519.0m | |
| Stock compensation cost | $152.0m | $192.0m | $251.0m | $356.0m | $330.0m | $442.0m | $420.0m | $425.0m | $437.0m | $519.0m | |
| Share-based 401(k) matching contributions | — | — | — | — | — | — | — | $261.0m | $353.0m | $573.0m | |
| Gain (Loss) on Extinguishment of Debt | ($164.0m) | ($164.0m) | — | — | — | ($649.0m) | $0 | $0 | — | — | |
| Income Tax Expense (Benefit) | $1.7b | $2.8b | $2.6b | $2.3b | $575.0m | $786.0m | $700.0m | $456.0m | $1.2b | $1.7b | |
| Operating Lease, Expense | — | — | — | $720.0m | $497.0m | $525.0m | $475.0m | $463.0m | $422.0m | $495.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Inventories | $719.0m | $1.1b | $537.0m | $1.2b | ($412.0m) | ($163.0m) | $1.6b | $1.1b | $1.5b | $532.0m | |
| Increase (Decrease) in Other Operating Assets | ($49.0m) | $101.0m | ($161.0m) | $309.0m | $445.0m | $566.0m | $1.0b | $1.2b | $402.0m | $1.1b | |
| Proceeds from Stock Options Exercised | — | $29.0m | $36.0m | $27.0m | $15.0m | $7.0m | $20.0m | $22.0m | $26.0m | — | |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | — | — | — | — | — | — | — | — | $415.0m | $0 | |
| Goodwill | $27.1b | $27.9b | $48.1b | $48.1b | $54.3b | $54.4b | $53.8b | $53.7b | $52.8b | $53.3b | |
| Nonoperating Income (Expense) | — | — | — | — | $464.0m | $27.0m | ($613.0m) | ($275.0m) | $344.0m | ($567.0m) | |
| Net periodic pension and other postretirement income | — | — | — | ($566.0m) | ($413.0m) | ($1.4b) | ($1.4b) | ($1.6b) | ($1.3b) | ($1.0b) | |
| Gain on sale of Cybersecurity, Intelligence and Services (CIS) business, net of transaction costs (Note 2) | — | — | — | — | — | — | $0 | $0 | ($415.0m) | $0 | |
| Accounts receivable | $941.0m | $448.0m | $2.4b | ($419.0m) | $1.3b | ($570.0m) | $437.0m | ($1.8b) | ($175.0m) | ($3.2b) | |
| Contract assets | $0 | $0 | $604.0m | $307.0m | $63.0m | ($1.6b) | ($234.0m) | ($753.0m) | ($2.4b) | ($2.6b) | |
| Inventory | $719.0m | $1.1b | $537.0m | $1.2b | $412.0m | $163.0m | ($1.6b) | ($1.1b) | ($1.5b) | ($532.0m) | |
| Other current assets | ($49.0m) | $101.0m | ($161.0m) | $309.0m | ($445.0m) | ($566.0m) | ($1.0b) | ($1.2b) | ($402.0m) | ($1.1b) | |
| Accounts payable and accrued liabilities | $450.0m | $1.6b | $2.4b | $1.2b | ($1.7b) | $917.0m | $2.1b | $4.0b | $1.5b | $3.4b | |
| Contract liabilities | $0 | $0 | $205.0m | $359.0m | $1.1b | $1.4b | $846.0m | $2.3b | $1.9b | $2.8b | |
| Other operating activities, net | ($165.0m) | ($766.0m) | $621.0m | $961.0m | $319.0m | ($812.0m) | ($39.0m) | $309.0m | $218.0m | ($476.0m) | |
| Payments on customer financing assets | $438.0m | $1.2b | $988.0m | $787.0m | ($280.0m) | ($231.0m) | ($150.0m) | ($117.0m) | ($218.0m) | ($233.0m) | |
| Receipts from customer financing assets | $217.0m | $222.0m | $606.0m | $129.0m | $368.0m | $389.0m | $179.0m | $212.0m | $202.0m | $161.0m | |
| Dispositions of businesses, net of cash transferred | $211.0m | $70.0m | $1.1b | $138.0m | $2.6b | $1.9b | $94.0m | $6.0m | $1.8b | $1.9b | |
| Increase in other intangible assets | $388.0m | $380.0m | $400.0m | $351.0m | ($172.0m) | ($188.0m) | ($487.0m) | ($751.0m) | ($611.0m) | ($492.0m) | |
| Receipts (payments) from settlements of derivative contracts, net | ($249.0m) | $317.0m | ($143.0m) | ($336.0m) | ($32.0m) | ($16.0m) | ($205.0m) | $14.0m | ($142.0m) | $118.0m | |
| Proceeds from bridge loan | — | — | — | — | — | $0 | $0 | $10.0b | $0 | $0 | |
| Repayment of bridge loan | — | — | — | — | — | $0 | $0 | ($10.0b) | $0 | $0 | |
| Change in commercial paper, net (Note 9) | — | — | — | — | $160.0m | ($160.0m) | $518.0m | ($524.0m) | $0 | $0 | |
| Less: Restricted cash, included in Other assets, current and Other assets | — | — | $38.0m | $24.0m | $30.0m | $21.0m | $71.0m | $39.0m | $28.0m | $35.0m | |
| Other Operating Income (Expense), Net | — | — | — | — | — | — | — | — | — | $413.0m | |
| Net Cash Provided by (Used in) Operating Activities | ($2.5b) | $0 | $0 | $8.9b | ($728.0m) | ($71.0m) | $0 | $0 | $7.2b | $10.6b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $1.7b | $2.0b | $1.9b | $2.3b | ($1.8b) | $2.1b | $2.3b | $2.4b | $2.6b | $2.6b | |
| Payments for (Proceeds from) Other Investing Activities | ($49.0m) | ($232.0m) | $139.0m | $245.0m | $91.0m | ($25.0m) | ($94.0m) | ($12.0m) | ($65.0m) | $123.0m | |
| Other investing activities, net | ($49.0m) | ($232.0m) | $139.0m | $245.0m | ($91.0m) | $25.0m | $94.0m | $12.0m | $65.0m | ($123.0m) | |
| Net cash flows used in investing activities | ($2.5b) | ($3.0b) | ($17.0b) | ($3.1b) | $3.3b | — | ($2.8b) | ($3.0b) | ($1.5b) | ($1.3b) | |
| Net Cash Provided by (Used in) Investing Activities | ($2.5b) | ($3.0b) | ($17.0b) | ($3.1b) | $3.3b | — | — | — | ($1.5b) | ($1.3b) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $6.5b | $5.0b | $13.5b | $88.0m | $2.0b | $4.1b | $1.0m | $12.9b | $0 | $0 | |
| Proceeds from long-term debt | $6.5b | $5.0b | $13.5b | $88.0m | $2.0b | $4.1b | $1.0m | $12.9b | $0 | $0 | |
| Repayments of Long-term Debt | $2.5b | $1.6b | $2.5b | $2.8b | $16.1b | $4.3b | $3.0m | $578.0m | $2.5b | $3.4b | |
| Repayment of long-term debt | $2.5b | $1.6b | $2.5b | $2.8b | ($16.1b) | ($4.3b) | ($3.0m) | ($578.0m) | ($2.5b) | ($3.4b) | |
| Proceeds from Issuance of Common Stock | $0 | $0 | — | — | — | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | $2.3b | $1.5b | $325.0m | $151.0m | $47.0m | $2.3b | $2.8b | $12.9b | $444.0m | $50.0m | |
| Payments of Ordinary Dividends, Common Stock | $2k | $2k | $2k | $2k | $3k | $3k | $3k | $3k | $3k | $4k | |
| Repurchase of common stock | $2.3b | $1.5b | $325.0m | $151.0m | ($47.0m) | ($2.3b) | ($2.8b) | ($12.9b) | ($444.0m) | ($50.0m) | |
| Dividends paid | $2k | $2k | $2k | $2k | ($3k) | ($3k) | ($3k) | ($3k) | ($3k) | ($4k) | |
| Proceeds from (Payments for) Other Financing Activities | ($564.0m) | ($576.0m) | ($155.0m) | ($183.0m) | ($151.0m) | ($454.0m) | ($415.0m) | ($317.0m) | ($452.0m) | ($433.0m) | |
| Other financing activities, net | ($564.0m) | ($576.0m) | ($155.0m) | ($183.0m) | ($151.0m) | ($454.0m) | ($415.0m) | ($317.0m) | ($452.0m) | ($433.0m) | |
| Net cash flows used in financing activities | ($1.2b) | ($993.0m) | $8.0b | ($4.6b) | ($3.9b) | — | ($5.9b) | ($4.5b) | ($6.6b) | ($7.5b) | |
| Net Cash Provided by (Used in) Financing Activities | ($1.2b) | ($993.0m) | $8.0b | ($4.6b) | ($3.9b) | — | — | — | ($6.6b) | ($7.5b) | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | ($42.0m) | $18.0m | — | $48.0m | |
| Effect of foreign exchange rate changes on cash and cash equivalents | ($120.0m) | $210.0m | ($120.0m) | ($19.0m) | $54.0m | ($1.0m) | ($42.0m) | $18.0m | ($28.0m) | $48.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | — | $1.4b | ($979.0m) | ($1.6b) | $335.0m | ($1.0b) | $1.9b | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | — | — | ($2.8b) | $1.2b | $1.4b | ($979.0m) | ($1.6b) | $335.0m | ($1.0b) | $1.9b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | — | — | — | — | — | — | $7.5b | |
| Cash, cash equivalents and restricted cash, beginning of year | — | — | $6.1b | $3.7b | $5.0b | $8.8b | $7.9b | $6.3b | $6.6b | $7.5b | |
| Cash and cash equivalents, end of year | $7.2b | $9.0b | $6.2b | $7.4b | $8.8b | $7.8b | $6.2b | $6.6b | $5.6b | $7.4b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $1.2b | $974.0m | $1.0b | $1.8b | $1.6b | $1.3b | $1.3b | $1.5b | $1.9b | $1.9b | |
| Income Taxes Paid, Net | $4.1b | $1.3b | $1.7b | $1.8b | $1.7b | $1.1b | $2.4b | $1.5b | $1.2b | $1.6b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.