RTX Corp Files 2024 10-K

TL;DR

RTX 2024 10-K is in. Check financials for aerospace giant.

AI Summary

RTX Corp filed its 2024 10-K on February 3, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly known as Raytheon Technologies Corp, is incorporated in Delaware and operates in the aircraft engines and engine parts industry. Key financial data and business segments are detailed within the filing.

Why It Matters

This filing provides a comprehensive overview of RTX Corp's financial performance and business operations for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: medium — The provided text is a standard 10-K filing header and does not contain specific risk factors or financial performance details that would indicate a high or low risk level.

Key Numbers

• 2024 — Fiscal Year (Reporting period for the 10-K filing.)
• 12/31 — Fiscal Year End (Indicates the end date of the reporting fiscal year.)
• 2025-02-03 — Filing Date (Date the 10-K was officially filed with the SEC.)

Key Players & Entities

• RTX Corp (company) — Filer
• Raytheon Technologies Corp (company) — Former Company Name
• United Technologies Corp (company) — Former Company Name
• 2024-12-31 (date) — Fiscal Year End
• 2025-02-03 (date) — Filing Date

FAQ

Key Financial Figures

• $1 — ange on which registered Common Stock ($1 par value) RTX New York Stock Exchange
• $2 billion — enter program. Collins was also awarded $2 billion in the aggregate for new maintenance, r
• $1.3 billion — awarded a new contract valued at up to $1.3 billion for continued work on the ECU. The F135
• $218 billion — IQ) type contracts). Total backlog was $218 billion and $196 billion as of December 31, 202
• $196 billion — s). Total backlog was $218 billion and $196 billion as of December 31, 2024 and 2023, respe

Filing Documents

• rtx-20241231.htm (10-K) — 3770KB
• exhibit10702024-12x3110xk.htm (EX-10.70) — 151KB
• exhibit192024-12x3110xk.htm (EX-19) — 128KB
• exhibit212024-12x3110xk.htm (EX-21) — 22KB
• exhibit232024-12x3110xk.htm (EX-23) — 3KB
• exhibit242024-12x3110xk.htm (EX-24) — 39KB
• exhibit3112024-12x3110xk.htm (EX-31.1) — 11KB
• exhibit3122024-12x3110xk.htm (EX-31.2) — 11KB
• exhibit3132024-12x3110xk.htm (EX-31.3) — 11KB
• exhibit322024-12x3110xk.htm (EX-32) — 8KB
• rtx-20241231_g1.jpg (GRAPHIC) — 89KB
• rtx-logo_rgbxblack.jpg (GRAPHIC) — 97KB
• 0000101829-25-000005.txt ( ) — 20563KB
• rtx-20241231.xsd (EX-101.SCH) — 112KB
• rtx-20241231_cal.xml (EX-101.CAL) — 118KB
• rtx-20241231_def.xml (EX-101.DEF) — 666KB
• rtx-20241231_lab.xml (EX-101.LAB) — 1398KB
• rtx-20241231_pre.xml (EX-101.PRE) — 966KB
• rtx-20241231_htm.xml (XML) — 3934KB

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 30

Cybersecurity

Item 1C. Cybersecurity 30

Properties

Item 2. Properties 32

Legal Proceedings

Item 3. Legal Proceedings 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 33 PART II

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 34

Reserved

Item 6. Reserved 35

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 64

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 65

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 118

Controls and Procedures

Item 9A. Controls and Procedures 118

Other Information

Item 9B. Other Information 118

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 118 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 119

Executive Compensation

Item 11. Executive Compensation 120

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 120

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 121

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 121 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 122

Form 10-K Summary

Item 16. Form 10-K Summary 129

SIGNATURES

SIGNATURES 130 RTX Corporation and its subsidiaries' names, abbreviations thereof, logos, and products and services designators are all either the registered or unregistered trademarks or tradenames of RTX Corporation and its subsidiaries. Names, abbreviations of names, logos, and products and services designators of other companies are either the registered or unregistered trademarks or tradenames of their respective owners. References to internet web sites in this Form 10-K are provided for convenience only. Information available through these web sites is not incorporated by reference into this Form 10-K. 3 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS General RTX Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military, and government customers worldwide. The terms "we," "us," "our," the "Company", and "RTX" mean RTX Corporation and its subsidiaries, unless the context indicates another meaning. References to "Raytheon Company" mean Raytheon Company, which became a wholly owned subsidiary of RTX on April 3, 2020 through an all-stock merger transaction between United Technologies Corporation and Raytheon Company (the surviving company of which is RTX Corporation). We serve commercial and government customers in both the original equipment and aftermarket parts and services segments of the aerospace industry. Our defense business serves both domestic and international customers as a prime contractor or subcontractor on a broad portfolio of defense and related programs for military and government customers. RTX Corporation was incorporated in Delaware in 1934. The following description of our business should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" within Item 7 of this Form 10-K, including the information contained therein under the heading "Business Overview." Business Segments Our operations are classified into three principal business segments: Collins Aerospace (Collins), Pratt & Whitney, and Raytheon, with each segment comprised of groups of similar operations. Collins Aerospace is a leading global provider of technologically advanced aerospace and defense products. Collins' solutions include aftermarket services for civil and military aircraft manufacturers, commercial airlines, and regional, business, and general aviation, as well as for defense and commercial space operations. Aftermarket services include spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, asset management services, and informat

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View this 10-K filing on SEC EDGAR