|
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Millions, except Per Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
| Net sales |
|
|
|
| Products |
$ 20,380 |
$ 20,725 |
$ 21,363 |
| Services |
4,034 |
4,066 |
3,787 |
| Total net sales |
24,414 |
24,791 |
25,150 |
| Operating expenses |
|
|
|
| Cost of sales - products |
15,712 |
16,245 |
17,000 |
| Cost of sales - services |
3,380 |
3,419 |
3,273 |
| Administrative and selling expenses |
1,629 |
1,672 |
1,639 |
| Research and development expenses |
704 |
625 |
625 |
| Total operating expenses |
21,425 |
21,961 |
22,537 |
| Operating income |
2,989 |
2,830 |
2,613 |
| Interest expense |
201 |
172 |
126 |
| Interest income |
(9) |
(14) |
(12) |
| Other expense (income), net |
18 |
12 |
65 |
| Total non-operating (income) expense, net |
210 |
170 |
179 |
| Income from continuing operations before taxes |
2,779 |
2,660 |
2,434 |
| Federal and foreign income taxes |
878 |
782 |
590 |
| Income from continuing operations |
1,901 |
1,878 |
1,844 |
| Income (loss) from discontinued operations, net of tax |
(1) |
18 |
35 |
| Net income |
1,900 |
1,896 |
1,879 |
| Less: Net Income attributable to noncontrolling interests in subsidiaries |
12 |
30 |
39 |
| Net income attributable to Raytheon Company |
1,888 |
1,866 |
1,840 |
| Basic earnings per share attributable to Raytheon Company common stockholders: |
|
|
|
| Income from continuing operations |
$ 5.67 |
$ 5.25 |
$ 4.84 |
| Income (loss) from discontinued operations, net of tax |
$ 0.00 |
$ 0.05 |
$ 0.09 |
| Net income |
$ 5.67 |
$ 5.30 |
$ 4.94 |
| Diluted earnings per share attributable to Raytheon Company common stockholders: |
|
|
|
| Income from continuing operations |
$ 5.65 |
$ 5.22 |
$ 4.79 |
| Income (loss) from discontinued operations, net of tax |
$ 0.00 |
$ 0.05 |
$ 0.09 |
| Net income |
$ 5.65 |
$ 5.28 |
$ 4.88 |
| Amounts attributable to Raytheon Company common stockholders: |
|
|
|
| Income from continuing operations |
1,889 |
1,848 |
1,805 |
| Income (loss) from discontinued operations, net of tax |
$ (1) |
$ 18 |
$ 35 |