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Cover and table of contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549


FORM 10-Q


☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2022

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 001-00812


RAYTHEON TECHNOLOGIES CORPORATION

(Exact name of registrant as specified in its charter)


Delaware06-0570975
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
1000 Wilson Boulevard,Arlington,Virginia22209
(Address of principal executive offices)(Zip Code)
(781)522-3000

(Registrant’s telephone number, including area code)

870 Winter Street,Waltham,Massachusetts02451

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock ($1 par value)RTXNew York Stock Exchange
(CUSIP 75513E 101)
2.150% Notes due 2030RTX 30New York Stock Exchange
(CUSIP 75513E AB7)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒. No ☐.

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒. No ☐.

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer☒Accelerated Filer☐
Non-accelerated Filer☐Smaller Reporting Company☐
Emerging Growth Company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐. No ☒.

At June 30, 2022 there were 1,476,514,046 shares of Common Stock outstanding.

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RAYTHEON TECHNOLOGIES CORPORATION

AND SUBSIDIARIES

CONTENTS OF QUARTERLY REPORT ON FORM 10-Q

Quarter Ended June 30, 2022

Page
PART I – FINANCIAL INFORMATION4
Item 1. Unaudited Financial Statements:4
Condensed Consolidated Statement of Operations for the quarters and six months ended June 30, 2022 and 20214
Condensed Consolidated Statement of Comprehensive Income for the quarters and six months ended June 30, 2022 and 20215
Condensed Consolidated Balance Sheet at June 30, 2022 and December 31, 20216
Condensed Consolidated Statement of Cash Flows for the six months ended June 30, 2022 and 20217
Condensed Consolidated Statement of Changes in Equity for the quarters and six months ended June 30, 2022 and 20218
Notes to Condensed Consolidated Financial Statements9
Report of Independent Registered Public Accounting Firm29
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations30
Item 3. Quantitative and Qualitative Disclosures About Market Risk49
Item 4. Controls and Procedures49
PART II – OTHER INFORMATION52
Item 1. Legal Proceedings52
Item 1A. Risk Factors52
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds53
Item 6. Exhibits53
SIGNATURES54

Raytheon Technologies Corporation and its subsidiaries’ names, abbreviations thereof, logos, and products and services designators are all either the registered or unregistered trademarks or tradenames of Raytheon Technologies 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-Q are provided for convenience only. Information available through these web sites is not incorporated by reference into this Form 10-Q.

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PART I – FINANCIAL INFORMATION

Next: Item 1. Financial Statements