Note 14: Segment Financial Data
9 Months Ended
Sep. 30, 2011
Notes to Condensed Consolidated Financial Statements [Abstract] 
Note 14: Segment Financial Data

Note 14: Segment Financial Data

 

Our operations are classified into six principal segments: Otis, Carrier, UTC Fire & Security, Pratt & Whitney, Hamilton Sundstrand and Sikorsky. The segments are generally based on the management structure of the businesses and the grouping of similar operating companies, where each management organization has general operating autonomy over diversified products and services. On September 28, 2011, we announced a new organizational structure that will allow us to better serve customers through greater integration across product lines. This new structure will combine Carrier and UTC Fire & Security into a new segment called UTC Climate, Controls & Security Systems. Carrier and UTC Fire & Security will continue to report financial and operational results separately through the remainder of 2011. In the first quarter of 2012, Carrier and UTC Fire & Security will begin reporting as one segment. Also, as part of the new organizational structure, Pratt & Whitney and Hamilton Sundstrand will be part of a new aerospace organization, named UTC Propulsion and Aerospace Systems, but will continue to report their financial and operational results as separate segments. We will continue to report all financial and operational results under the six principal segments noted above for the remainder of 2011, consistent with how business operations are currently reviewed for decision making purposes, resource allocation and performance assessment.

 

 Results for the quarters and nine months ended September 30, 2011 and 2010 are as follows:

 

Quarter Ended September 30, Net Sales Operating Profits Operating Profit Margins
(Dollars in millions) 2011 2010 2011 2010 2011 2010
Otis $ 3,262 $ 2,908 $ 731 $ 678 22.4% 23.3%
Carrier   3,175   2,936   422   380 13.3% 12.9%
UTC Fire & Security   1,746   1,657   194   187 11.1% 11.3%
Pratt & Whitney   3,251   3,230   535   547 16.5% 16.9%
Hamilton Sundstrand   1,531   1,420   282   255 18.4% 18.0%
Sikorsky   1,877   1,547   215   163 11.5% 10.5%
Total segments   14,842   13,698   2,379   2,210 16.0% 16.1%
Eliminations and other   (38)   (78)   (75)   (199)    
General corporate expenses   -   -   (102)   (83)    
Consolidated $ 14,804 $ 13,620 $ 2,202 $ 1,928 14.9% 14.2%
                 
Nine Months Ended September 30, Net Sales Operating Profits Operating Profit Margins
(Dollars in millions) 2011 2010 2011 2010 2011 2010
Otis $ 9,226 $ 8,472 $ 2,104 $ 1,915 22.8% 22.6%
Carrier   9,334   8,496   1,190   852 12.7% 10.0%
UTC Fire & Security   5,120   4,687   562   478 11.0% 10.2%
Pratt & Whitney   9,798   9,350   1,460   1,505 14.9% 16.1%
Hamilton Sundstrand   4,503   4,125   793   680 17.6% 16.5%
Sikorsky   5,245   4,597   633   477 12.1% 10.4%
Total segments   43,226   39,727   6,742   5,907 15.6% 14.9%
Eliminations and other   (2)   (265)   (246)   (321)    
General corporate expenses   -   -   (295)   (253)    
Consolidated $ 43,224 $ 39,462 $ 6,201 $ 5,333 14.3% 13.5%

See Note 7 to the Condensed Consolidated Financial Statements for a discussion of restructuring costs included in segment operating results.