Segment Financial Data
 9 Months Ended
Sep. 30, 2014
Notes to Condensed Consolidated Financial Statements [Abstract]  
Segment Financial Data
Segment Financial Data
Our operations are classified into five principal segments: Otis, UTC Climate, Controls & Security, Pratt & Whitney, UTC Aerospace Systems 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.
Results for the quarters ended September 30, 2014 and 2013 are as follows:
 
Net Sales
 
Operating Profits
 
Operating Profit Margins
(Dollars in millions)
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Otis
$
3,326

 
$
3,188

 
$
703

 
$
681

 
21.1
%
 
21.4
%
UTC Climate, Controls & Security
4,351

 
4,237

 
807

 
696

 
18.5
%
 
16.4
%
Pratt & Whitney
3,564

 
3,386

 
633

 
439

 
17.8
%
 
13.0
%
UTC Aerospace Systems
3,535

 
3,312

 
575

 
501

 
16.3
%
 
15.1
%
Sikorsky
1,620

 
1,541

 
152

 
159

 
9.4
%
 
10.3
%
Total segments
16,396

 
15,664

 
2,870

 
2,476

 
17.5
%
 
15.8
%
Eliminations and other
(228
)
 
(202
)
 
—

 
7

 
 
 
 
General corporate expenses
—

 
—

 
(124
)
 
(117
)
 
 
 
 
Consolidated
$
16,168

 
$
15,462

 
$
2,746

 
$
2,366

 
17.0
%
 
15.3
%

Results for the nine months ended September 30, 2014 and 2013 are as follows:
 
Net Sales
 
Operating Profits
 
Operating Profit Margins
(Dollars in millions)
2014
 
2013
 
2014
 
2013
 
2014
 
2013
Otis
$
9,646

 
$
9,140

 
$
1,966

 
$
1,906

 
20.4
 %
 
20.9
%
UTC Climate, Controls & Security
12,631

 
12,617

 
2,159

 
1,968

 
17.1
 %
 
15.6
%
Pratt & Whitney
10,485

 
10,412

 
1,453

 
1,412

 
13.9
 %
 
13.6
%
UTC Aerospace Systems
10,621

 
9,896

 
1,767

 
1,501

 
16.6
 %
 
15.2
%
Sikorsky
5,365

 
4,356

 
(79
)
 
405

 
(1.5
)%
 
9.3
%
Total segments
48,748

 
46,421

 
7,266

 
7,192

 
14.9
 %
 
15.5
%
Eliminations and other
(644
)
 
(554
)
 
288

 
32

 
 
 
 
General corporate expenses
—

 
—

 
(355
)
 
(345
)
 
 
 
 
Consolidated
$
48,104

 
$
45,867

 
$
7,199

 
$
6,879

 
15.0
 %
 
15.0
%

See Note 8 to the Condensed Consolidated Financial Statements for a discussion of restructuring costs included in segment operating results.
During the quarter ended June 30, 2014, Sikorsky and the Canadian Government signed amendments to their existing contracts for development, production and support of the CH-148 helicopter. These amendments include significant changes in program scope, governance and delivery methodology. Accordingly, in the quarter ended June 30, 2014, we recognized a change in estimate on this program resulting in the recognition of approximately $830 million of sales and $1,268 million of cost of sales.