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Raytheon Co (RTN) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Raytheon Co

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CIK: 1047122 Ticker: RTN
Exhibit 99.1

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rtnlogo1a01a06a01a36.jpg
 
 
Raytheon Company
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Global Headquarters
 
 
Waltham, Mass.
 
 
 
 
 
Investor Relations Contact
 
 
Kelsey DeBriyn
 
 
 
781.522.5141
 
 
 
 
 
 
 
Media Contact
 
 
 
Corinne Kovalsky
 
 
 
781.522.5899
For Immediate Release

Raytheon Reports Strong Fourth Quarter and Full-Year 2019 Results

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Record bookings of $12.1 billion in the quarter and $36.3 billion for the year; strong book-to-bill ratio of 1.54 in the quarter and 1.25 for the year
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Record backlog of $48.8 billion, up 15 percent year-over-year
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Fourth quarter net sales of $7.8 billion, up 6.5 percent; full-year net sales of $29.2 billion, up 7.8 percent
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Fourth quarter EPS from continuing operations of $3.16; full-year EPS from continuing operations of $11.92
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Strong operating cash flow from continuing operations of $2.8 billion in the quarter and a record $4.5 billion for the year
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Raytheon and United Technologies merger of equals targeted to close early in the second quarter of 2020
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WALTHAM, Mass., (January 30, 2020) - Raytheon Company (NYSE: RTN) today announced net sales for the fourth quarter 2019 of $7.8 billion, up 6.5 percent compared to $7.4 billion in the fourth quarter 2018. Fourth quarter 2019 EPS from continuing operations was $3.16 compared to $2.93 in the fourth quarter 2018. The increase in the fourth quarter 2019 EPS from continuing operations was primarily driven by operational improvements.
Net sales in 2019 were $29.2 billion, up 7.8 percent compared to $27.1 billion in 2018. Full-year 2019 EPS from continuing operations was $11.92 compared to $10.15 for the full-year 2018.
The previously announced merger with United Technologies is targeted to close early in the second quarter of 2020, subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals, as well as completion by United Technologies of the separation of its Otis and Carrier businesses.
“Raytheon had a very successful year in 2019, delivering record bookings, backlog, sales and operating cash flow,” said Thomas A. Kennedy, Raytheon Chairman and CEO. “Our results reflect the continued hard work and dedication of the Raytheon team and position us well for the future.
“Integration planning for the merger with United Technologies is progressing well, with the integration team developing detailed execution plans to capture revenue and cost synergies rapidly and ensure seamless operations post close. Our goal is to close the merger early in the second quarter of 2020.”


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The following information was filed by Raytheon Co (RTN) on Thursday, January 30, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Raytheon Co's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Operations
Acquisitions, Divestitures And Goodwill
Acquisitions, Divestitures And Goodwill (Narrative) (Details)
Acquisitions, Divestitures And Goodwill (Rollforward Of Goodwill By Segments) (Details)
Acquisitions, Divestitures And Goodwill (Tables)
Business Segment Reporting
Business Segment Reporting (Capital Expenditures) (Details)
Business Segment Reporting (Components Of Fas/Cas Operating Adjustment) (Details)
Business Segment Reporting (Components Of Total Assets) (Details)
Business Segment Reporting (Depreciation And Amortization) (Details)
Business Segment Reporting (Disaggregation Of Revenue) (Details)
Business Segment Reporting (Schedule Of Property Plant And Equipment, Net, By Geographic Area) (Details)
Business Segment Reporting (Segment Operating Performance) (Details)
Business Segment Reporting (Tables)
Commercial Paper And Long-Term Debt
Commercial Paper And Long-Term Debt (Adjustments And Payments To The Principal Amounts Of Long-Term Debt) (Details)
Commercial Paper And Long-Term Debt (Fair Value Of Long-Term Debt) (Details)
Commercial Paper And Long-Term Debt (Narrative) (Details)
Commercial Paper And Long-Term Debt (Schedule Of Notes Payable And Long-Term Debt) (Details)
Commercial Paper And Long-Term Debt (Tables)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Remediation Cost Estimates) (Details)
Commitments And Contingencies (Schedule Of Environmental Remediation Costs) (Details)
Commitments And Contingencies (Stated Values Outstanding) (Details)
Commitments And Contingencies (Tables)
Contract Assets And Contract Liabilities
Contract Assets And Contract Liabilities (Narrative) (Details)
Contract Assets And Contract Liabilities (Net Contract Assets (Liabilities)) (Details)
Contract Assets And Contract Liabilities (Schedule Of Contract Assets) (Details)
Contract Assets And Contract Liabilities (Tables)
Earnings Per Share (Eps)
Earnings Per Share (Eps) (Eps From Continuing Operations) (Details)
Earnings Per Share (Eps) (Income From Participating Securities) (Details)
Earnings Per Share (Eps) (Narrative) (Details)
Earnings Per Share (Eps) (Tables)
Earnings Per Share (Eps) (Weighted-Average Shares Outstanding For Basic And Diluted Eps) (Details)
Income Taxes
Income Taxes (Narrative) (Details)
Income Taxes (Schedule Of Deferred Income Tax) (Details)
Income Taxes (Schedule Of Domestic And Foreign Income From Continuing Operations Before Taxes) (Details)
Income Taxes (Schedule Of Expenses For Income Taxes That Differ From The Us Statutory Rate Reconciliation) (Details)
Income Taxes (Schedule Of Income Taxes Paid (Received), Net) (Details)
Income Taxes (Schedule Of Provision For Federal And Foreign Income Taxes) (Details)
Income Taxes (Schedule Of Unrecognized Tax Benefits Roll Forward) (Details)
Income Taxes (Tables)
Leases
Leases (Components Of Lease Expense) (Details)
Leases (Future Lease Payments) (Details)
Leases (Narrative) (Details)
Leases (Operating Lease Liabilities Recognized On Balance Sheet) (Details)
Leases (Other Information Related To Operating Leases) (Details)
Leases (Tables)
Other Assets, Net
Other Assets, Net (Narrative) (Details)
Other Assets, Net (Schedule Of Other Assets, Net) (Details)
Other Assets, Net (Tables)
Pension And Other Employee Benefits
Pension And Other Employee Benefits (Adjustment To Accumulated Other Comprehensive Loss) (Details)
Pension And Other Employee Benefits (Fair Value Of Plan Assets) (Details)
Pension And Other Employee Benefits (Long-Term Returns Used In Roa Assumptions) (Details)
Pension And Other Employee Benefits (Marketable Securities Held In Trust) (Details)
Pension And Other Employee Benefits (Narrative) (Details)
Pension And Other Employee Benefits (Pbo &Amp; Abo Schedule) (Details)
Pension And Other Employee Benefits (Pension Benefits Expected To Be Paid From Plans Or Companies Assets) (Details)
Pension And Other Employee Benefits (Pension Contributions) (Details)
Pension And Other Employee Benefits (Schedule Of Change In Plan Assets) (Details)
Pension And Other Employee Benefits (Schedule Of Change In Projected Benefit Obligation) (Details)
Pension And Other Employee Benefits (Schedule Of Components Of Net Periodic Benefit Expense (Income) Pension) (Details)
Pension And Other Employee Benefits (Schedule Of Components Of Net Periodic Benefit Expense (Income) Prb Benefits) (Details)
Pension And Other Employee Benefits (Schedule Of Fair Value Measurements Of The Company's Pension Plan Assets By Asset Category And By Level) (Details)
Pension And Other Employee Benefits (Schedule Of Funded Status Amounts Recognized On Our Balance Sheets) (Details)
Pension And Other Employee Benefits (Schedule Of Investment Allocation Ranges) (Details)
Pension And Other Employee Benefits (Schedule Of Reconciliation Of Amounts On Our Balance Sheets) (Details)
Pension And Other Employee Benefits (Schedule Of Weighted-Average Net Periodic Benefit Cost Assumptions) (Details)
Pension And Other Employee Benefits (Schedule Of Weighted-Average Year-End Benefit Obligation Assumptions) (Details)
Pension And Other Employee Benefits (Source Of Change In Accumulated Other Comprehensive Loss) (Details)
Pension And Other Employee Benefits (Tables)
Pension And Other Employee Benefits (Veba Trusts) (Details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Narrative) (Details)
Property, Plant And Equipment, Net (Property, Plant And Equipment, Net) (Details)
Property, Plant And Equipment, Net (Tables)
Proposed Merger With United Technologies Corporation (Utc)
Proposed Merger With United Technologies Corporation (Utc) (Narrative) (Details)
Quarterly Operating Results (Unaudited)
Quarterly Operating Results (Unaudited) (Schedule Of Quarterly Operating Results) (Details)
Quarterly Operating Results (Unaudited) (Tables)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interests (Narrative) (Details)
Redeemable Noncontrolling Interests (Redeemable Noncontrolling Interests Rollforward) (Details)
Redeemable Noncontrolling Interests (Tables)
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Assumptions Used In Black-Scholes Model) (Details)
Stock-Based Compensation Plans (Assumptions Used In Monte Carlo Model) (Details)
Stock-Based Compensation Plans (Narrative) (Details)
Stock-Based Compensation Plans (Schedule Of Stock-Based Compensation Arrangements By Share-Based Payment Award - Ltpp) (Details)
Stock-Based Compensation Plans (Schedule Of Stock-Based Compensation Arrangements By Share-Based Payment Award - Restricted Stock And Rsus) (Details)
Stock-Based Compensation Plans (Schedule Of Stock-Based Compensation) (Details)
Stock-Based Compensation Plans (Tables)
Stockholders' Equity
Stockholders' Equity (Changes In Shares Of Common Stock Outstanding) (Details)
Stockholders' Equity (Narrative) (Details)
Stockholders' Equity (Repurchases Of Common Stock Under Share Repurchase Programs) (Details)
Stockholders' Equity (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Accumulated Other Comprehensive Income) (Details)
Summary Of Significant Accounting Policies (Inventories) (Details)
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Net Eac Adjustments) (Details)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Property, Plant And Equipment, Net) (Details)
Summary Of Significant Accounting Policies (Schedule Of Derivative Assets And Liabilities) (Details)
Summary Of Significant Accounting Policies (Schedule Of Receivables, Net) (Details)
Summary Of Significant Accounting Policies (Tables)
Ticker: RTN
CIK: 1047122
Form Type: 10-K Annual Report
Accession Number: 0001047122-20-000009
Submitted to the SEC: Wed Feb 12 2020 4:04:56 PM EST
Accepted by the SEC: Wed Feb 12 2020
Period: Tuesday, December 31, 2019
Industry: Search Detection Navagation Guidance Aeronautical Sys

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