Document
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ýANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2020
oTRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from______ to ______
Commission File Number 001-00812
RAYTHEON SAVINGS AND INVESTMENT PLAN
(Full title of the plan)
RAYTHEON TECHNOLOGIES CORPORATION
(Name of issuer of the securities held pursuant to the plan)
870 WINTER STREET, WALTHAM, MASSACHUSETTS 02451
(Address of issuer's principal executive offices)


Table of Contents




Raytheon Savings and Investment Plan
Financial Statements and Supplemental Schedule
To Accompany 2020 Form 5500
Annual Report of Employee Benefit Plan
Under Employee Retirement Income Security Act of 1974
December 31, 2020 and 2019



Table of Contents
Raytheon Savings and Investment Plan
Table of Contents to Financial Statements and Supplemental Schedule
December 31, 2020 and 2019


 Page(s)
Financial Statements
Supplemental Schedule*
* Other supplemental schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.



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Report of Independent Registered Public Accounting Firm

To the Administrator and Plan Participants of Raytheon Savings and Investment Plan

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of Raytheon Savings and Investment Plan (the "Plan") as of December 31, 2020 and 2019 and the related statement of changes in net assets available for benefits for the year ended December 31, 2020, including the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020 and 2019, and the changes in net assets available for benefits for the year ended December 31, 2020 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental Schedule H Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2020 has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental schedule is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.


/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
June 17, 2021

We have served as the Plan's auditor since at least 2002. We have not been able to determine the specific year we began serving as auditor of the Plan.


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Raytheon Savings and Investment Plan
Statements of Net Assets Available for Benefits
December 31, 2020 and 2019

20202019
Assets
Total investments at fair value (Notes 2 and 3)$20,399,121,986 $18,790,792,949 
Fully benefit-responsive investment contracts at contract value (Note 4)2,061,550,282 1,840,186,647 
Receivables
Notes receivable from participants
191,945,713 211,686,325 
Receivables for securities sold
81,440,876 12,564,051 
Accrued investment income and other receivables
22,482,776 14,798,615 
Total receivables
295,869,365 239,048,991 
Total assets
22,756,541,633 20,870,028,587 
Liabilities
Payable for securities purchased101,104,657 16,216,796 
Accrued investment expenses and other payables2,328,894 3,493,874 
Total liabilities
103,433,551 19,710,670 
Net assets available for benefits
$22,653,108,082 $20,850,317,917 

The accompanying notes are an integral part of these financial statements.

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Raytheon Savings and Investment Plan
Statement of Changes in Net Assets Available for Benefits
Year Ended December 31, 2020
2020
Additions to net assets attributable to:
Net appreciation of investments (Notes 2 and 3)$1,516,809,246 
Interest and dividends584,220,608 
Interest income on notes receivable from participants (Note 2)9,455,777 
Other revenue (Note 5)351,746 
Contributions
Employee contributions
859,505,485 
Employer contributions
407,343,421 
1,266,848,906 
Total additions
3,377,686,283 
Deductions from net assets attributable to:
Distributions to participants$1,565,136,779 
Administrative expenses9,759,339 
Total deductions
1,574,896,118 
Increase in net assets available for benefits1,802,790,165 
Net assets, beginning of year20,850,317,917 
Net assets, end of year$22,653,108,082 

The accompanying notes are an integral part of these financial statements.
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Raytheon Savings and Investment Plan
Notes to Financial Statements
December 31, 2020 and 2019

1. Description of Plan

The following description of the Raytheon Savings and Investment Plan (the "Plan") provides only general information. Participants should refer to the Plan documents for a complete description of the Plan's provisions.

General
The Plan is a defined contribution plan covering the majority of employees of Raytheon Company, a wholly owned subsidiary of Raytheon Technologies Corporation ("RTC," the "Company" or the "Plan Sponsor"). Most Raytheon Company employees are immediately eligible to enroll in the Plan on the first day of service. The purpose of the Plan is to provide participants with a tax-effective means of meeting both short-term and long-term investment objectives. The portion of the Plan that is invested in employer stock, as discussed below, is an employee stock ownership plan ("ESOP") that is intended to constitute a stock bonus plan as defined in the Internal Revenue Code of 1986, as amended (the "Code"), and that includes a cash or deferred arrangement. The remaining portion of the Plan is a profit-sharing plan that includes a cash or deferred arrangement. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). The Plan's investments are held in the Raytheon Savings and Investment Plan Trust (the "Trust"). Amounts held in a participant's account are invested at the direction of the participant among the investment options made available under the Plan.

On April 3, 2020 (the "Merger Date"), Raytheon Company became a wholly owned subsidiary of RTC. Prior to the Merger Date, the Plan's Coordinating Investment Fiduciary (who was appointed by Raytheon Company's Investment Committee) was responsible for determining the investment options available under the Plan, except that Raytheon Company's Investment Committee (which was appointed by Raytheon Company's Chief Executive Officer) was responsible for making determinations regarding the investment option that invested in common stock of Raytheon Company (the "Raytheon Stock Fund"). Before the Merger Date, the portion of the Plan that is an ESOP was invested in Raytheon Company common stock.

Upon the Merger Date, each share of common stock of Raytheon Company issued and outstanding immediately prior to the effective time was converted into the right to receive 2.3348 shares of RTC common stock (and, if applicable, cash in lieu of fractional shares), less any applicable withholding taxes, and the Raytheon Stock Fund was converted into the Raytheon Technologies Stock Fund, which invests in common stock of RTC. From and after the Merger Date, the Raytheon Technologies Defined Contribution Investment Committee (which is appointed by the Raytheon Technologies Pension Administration and Investment Committee) is responsible for determining the investment options available under the Plan (including determinations regarding the Raytheon Technologies Stock Fund). Effective on and after the Merger Date, the portion of the plan that is an ESOP is invested in RTC common stock.

Contributions and Deferrals
Eligible employees may contribute to the Plan up to 50% of their compensation, as defined in the Plan document. The Code limits eligible compensation the Plan may take into account to $285,000 for the 2020 plan year. Employee contributions, including rollovers, are invested based on participant investment elections. For 2020, the annual employee pretax elective deferral contributions for a participant cannot exceed $19,500, except for catch-up contributions. Participants also may make after tax contributions, but total employee (pretax and after tax) contributions and employer contributions may not exceed $57,000 for the 2020 plan year, except for catch-up contributions. A participant who is eligible to make elective pretax contributions and is at least age 50 by the end of 2020 may make pretax catch-up contributions up to $6,500. Participants may also make after tax Roth 401(k) contributions, which are aggregated with pretax contributions for purposes of the limits on contributions.

For most new Raytheon Company employees, for the first five consecutive years of service, the Company matches 100% of the first 3% of eligible compensation that a participant contributes to the Plan each pay period. After the first five consecutive years of service, the Company matches 100% of the first 4% of eligible compensation. Matching Company contributions are made in cash and are invested based on the investment allocation elected by each participant.

Eligible employees hired or rehired on or after January 1, 2007 participate in the Retirement Income Savings Program ("RISP") (subject to the terms of any applicable collective bargaining agreements), in addition to having the right to participate in the other features of the Plan. Most Raytheon Company employees hired after December 31, 2009 have a one-year waiting period for participation in RISP. Under RISP, the Company contributes a percentage of each RISP-eligible participant's compensation to the participant's RISP account in the Plan. The percentage contribution varies according to a schedule based on the
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Raytheon Savings and Investment Plan
Notes to Financial Statements
December 31, 2020 and 2019
participant's age at the most recent date of hire, years of service since the most recent date of hire and whether the participant's most recent date of hire was before or after December 31, 2009.

Participants may invest contributions in increments of 1% in any combination of investment options available, subject to percentage limitations applicable to some funds. The investment options range from investments with an emphasis on preservation of capital to equity investments with an emphasis on capital gains. The underlying investments include investment contracts, registered investment companies, common collective trusts, RTC common stock, fixed income securities and other investments including a self-directed brokerage account.

Effective as of January 1, 2020, participants may participate in the Student Loan Repayment Contribution ("SLRC") program in the Plan. An SLRC participant who makes qualified student loan repayments may receive an SLRC employer contribution of eligible earnings after the end of the year, up to the employer contribution for which the participant would otherwise be eligible under the Company match, less other employer matching contributions made within the Plan year. SLRC employer contributions are only made on behalf of SLRC participants who meet program guidelines, and who either are employed or on a qualifying leave of absence at the end of the applicable Plan year or terminate employment involuntarily without cause, or due to death or qualifying disability during such Plan year. For the year ended December 31, 2020, SLRC employer contributions were $4,443,444.

Participant Accounts
Each participant account is credited with the participant's contributions, the Company's contributions and an allocation of Plan earnings (losses). The allocation of Plan earnings (losses) is based on the participant's account balance and the elected investment allocation. Administrative expenses payable by the Plan are either directly charged to participant accounts or are paid from the forfeiture account, by the Company, or from credits the Plan receives under the agreement with its record keeper, Fidelity Workplace Services LLC ("FWS"), which is an affiliate of the Plan's Trustee, Fidelity Management Trust Company ("FMTC" or the "Trustee").

Participants are not permitted to make a direct exchange from the Raytheon Fixed Income Fund (the "Fixed Income Fund"), a stable value fund specifically managed for the Plan, into a competing fund (such as a money market fund). Investors who wish to move money from the Fixed Income Fund to a competing fund must first make an exchange from the Fixed Income Fund to a non-competing fund for 90 days. After 90 days, participants may exchange from a non-competing fund into a competing fund.

Vesting
With the exception of RISP participants and certain union groups, all employee and most employer contributions and earnings (losses) thereon are immediately 100% vested for each participant who performs an hour of service on or after January 1, 1999. Most RISP participants become 100% vested in the employer RISP contributions after three years of service. Forfeitures of the non-vested portions of terminated participants' accounts are available to reduce Company contributions and pay administrative expenses. At December 31, 2020 and 2019, unallocated Plan forfeitures were $349,685 and $1,405,338, respectively. For the year ended December 31, 2020, forfeitures of $1,787,048 were used to reduce Company contributions and pay administrative expenses.
 
Notes Receivable from Participants
A participant may borrow a portion of the balance in the participant's account, other than the RISP account, subject to certain restrictions. The maximum amount of a loan is the lesser of one-half of the participant's vested account balance or $50,000, minus the participant's highest outstanding loan balance over the previous 12 months. The minimum loan is $500. Loans are secured by the balance in the participant's account and bear interest equal to the prime rate published in The Wall Street Journal on the last business day of the calendar quarter preceding the calendar quarter in which the loan is made. Loans must be repaid over a period of up to five years, except that if the loan is used to acquire the participant's principal residence, the repayment period may extend up to 15 years. In March 2020, the U.S. government passed the Coronavirus Aid, Relief, and Economic Security ("CARES") Act in response to the negative impact on the U.S. economy caused by the coronavirus disease 2019 ("COVID-19") pandemic. The CARES Act included certain provisions affecting employee benefit plans. The Plan was impacted by certain provisions, including provisions that allowed participants to suspend payments on their loans through December 31, 2020 without causing the loan to become delinquent and go into default. Loan payments and interest payments are credited to the participant's account based on the participant's current investment election. At both December 31, 2020 and 2019, the interest rates on the outstanding loans ranged from approximately 3.25% to 9.50%.

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Raytheon Savings and Investment Plan
Notes to Financial Statements
December 31, 2020 and 2019
Payment of Benefits
A participant may make certain in-service withdrawals including all or a portion of participant after tax contributions, and any rollover contributions and related earnings at any time, and all or a portion of participant pretax contributions, employer contributions and related earnings upon attainment of age 59 ½. Participants who have not reached age 59 ½ but who have participated in the Plan for five years or more may take withdrawals of their company matching contributions. For reasons of financial hardship, a participant may withdraw all or a portion of participant pretax contributions and related earnings subject to a reduction in the maximum participant contribution rate for the next six months. In addition, the Plan also was impacted by provisions in the CARES Act that allowed participants to take up to a $100,000 distribution from qualified plans between January 1, 2020 and December 31, 2020. Distributions made under this provision in 2020 were $75,363,390. On termination of employment, a participant with a vested balance less than $1,000 will receive a lump-sum distribution unless the participant elects to defer distribution. If the vested balance is in excess of $1,000, a partial or lump-sum distribution can be requested at any time. If no distribution is requested the terminated participant will receive annual statutory distributions starting in the year in which the participant reaches the age of 70 ½, or the year of termination if later. The participant may elect to defer this initial payment until April 1 of the following year. Any excess over the annual statutory distributions may be deferred until the participant's death.

Participants who have investments in the Raytheon Technologies Stock Fund, which is primarily comprised of RTC common stock may elect to reinvest dividends within the Plan or, if vested, receive dividends in cash. Any dividends received in cash by participants will be subject to taxes in the year of receipt. Of the $40,688,507 in dividends earned by the Raytheon Technologies Stock Fund in 2020, $799,995 was received in cash by participants who elected the cash payment option.

2. Summary of Significant Accounting Policies

Basis of Accounting
The accompanying financial statements are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of net assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from the estimates included in the financial statements.

Investment Valuation and Income Recognition
Fully benefit-responsive investment contracts ("FBRICs") are reported at contract value, which is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Plan invests in FBRICs through the Fixed Income Fund.

Plan investments, other than FBRICs, are stated at fair value. See Note 3 for discussion of fair value measurements.
Security transactions are recorded on the trade date. Payables and receivables for outstanding purchases and sales represent trades which have occurred but have not yet settled and are recorded on the statements of net assets available for benefits.

Dividend income is recorded on the ex-dividend date. Income from other investments is recorded as earned on an accrual basis.

The Plan presents in the statement of changes in net assets available for benefits the net appreciation (depreciation) in the fair value of its investments, excluding FBRICs, which consists of the realized gains (losses) and the unrealized appreciation (depreciation) on those investments.

Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balance plus any accrued interest. No allowance for credit losses have been recorded as of December 31, 2020 or 2019. Participant loans that are classified as delinquent during the period are treated as distributions in that period based upon the terms of the Plan document.

Payment of Benefits
Benefits are recorded when paid.
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Raytheon Savings and Investment Plan
Notes to Financial Statements
December 31, 2020 and 2019
Administrative Expenses
Expenses of administering the Plan such as loan processing, legal fees and other administrative fees are charged directly or indirectly to participant accounts. Those expenses of administering the Plan that are not charged to participant accounts are paid by the forfeiture account, by the Company, or from credits the Plan receives under the agreement with its record keeper, FWS.

Subsequent Events
The Plan has evaluated subsequent events through the time of filing this Form 11-K with the Securities and Exchange Commission.

Accounting Standards
In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-13, Fair Value Measurement: Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement ("Topic 820"), which eliminates the disclosure requirement of the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and modifies certain disclosure requirements related to Level 3 recurring and nonrecurring fair value measurements. The new standard was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Plan adopted the standard on the effective date of January 1, 2020, and it did not have a material impact on its financial statements or disclosures.

Other new pronouncements issued but not effective until after December 31, 2020 are not expected to have a material impact on the Plan's financial statements or disclosures.

3. Fair Value Measurements

The accounting standard for fair value measurements provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. Fair value is defined as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. This accounting standard established a fair value hierarchy, which requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required:
Level 1:Quoted prices in active markets for identical assets or liabilities.
Level 2:Observable inputs, other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or that we corroborate with observable market data for substantially the full term of the related assets or liabilities.
Level 3:Unobservable inputs supported by little or no market activity that are significant to the fair value of the assets or liabilities.

A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Certain investments that are measured at fair value using the net asset value per share ("NAV"), or its equivalent, practical expedient have not been classified in the fair value hierarchy.

Following is a description of valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2020 or 2019.

Investments in registered investment companies are valued at the closing net asset value reported on the last business day of the year. Investments in securities traded on a national securities exchange are valued at the exchange traded close.

The self-directed brokerage account is reported as a single type investment. Investments in the self-directed brokerage account consist of registered investment companies and exchange traded funds. These investments are valued in line with the fair value measurement levels described above.

The Plan invests in common collective trusts ("CCT") which are valued at the net asset value of the CCT. The NAV, as provided by the CCT's trustee or custodian, is net of fees and is based on the fair value of the underlying investments held by the CCT less its liabilities. Participant transactions (purchases and sales) may occur daily. If the Plan were to initiate a full redemption of the CCT, the CCT's trustee reserves the right to temporarily delay withdrawal from the trust in order to ensure that securities liquidations will be carried out in an orderly business manner.
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Raytheon Savings and Investment Plan
Notes to Financial Statements
December 31, 2020 and 2019
The following tables set forth the investment assets of the Plan that were measured at fair value on a recurring basis by level within the fair value hierarchy.
Fair Value of Investment Assets as of 12/31/2020
TotalLevel 1Level 2Level 3
Not Subject To Leveling (1)
Registered investment companies$5,922,616,089 $5,922,616,089 $ $ $ 
Self-directed brokerage account883,077,643 883,077,643    
Employer common stock (2)
1,540,301,230 1,540,301,230    
Common collective trusts12,053,127,024    12,053,127,024 
          Total investments at fair value$20,399,121,986 $8,345,994,962 $ $ $12,053,127,024 
Fair Value of Investment Assets as of 12/31/2019
TotalLevel 1Level 2Level 3
Not Subject To Leveling (1)
Registered investment companies$5,237,637,221 $5,237,637,221 $— $— $— 
Self-directed brokerage account713,347,371 713,347,371 — — — 
Employer common stock (2)
2,127,734,949 2,127,734,949 — — — 
Common collective trusts10,712,073,408 — — — 10,712,073,408 
          Total investments at fair value$18,790,792,949 $8,078,719,541 $— $— $10,712,073,408 
(1)    Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits.
(2)    As discussed in "Note 1: Description of Plan" at December 31, 2020, the employer common stock was held in Raytheon Technologies Corporation common stock and at December 31, 2019, the employer common stock was held in Raytheon Company common stock.
4. Fully Benefit-Responsive Investment Contracts ("FBRICs")

For the plan years ended December 31, 2020 and 2019, the Plan included the Fixed Income Fund, which held FBRICs issued by American General Life Insurance Company, JP Morgan Chase Bank, Pacific Life Insurance Company, Prudential Insurance Company of America, State Street Bank and Trust Company and Transamerica Life Insurance Company. These FBRIC issuers are collectively referred to as the "FBRIC Providers."

The FBRICs make up the Synthetic Guaranteed Investment Contracts ("Synthetic GICs") and are designed to decrease volatility by providing the Fixed Income Fund with the ability to execute certain participant transactions at contract value through the use of FBRICs. Under the FBRICs, there is no immediate recognition of gains and losses on the Fixed Income Fund's investments. Instead gains and losses are recognized over time by periodically adjusting the interest rates credited to the Fixed Income Fund. This allows the Fixed Income Fund to credit a fixed interest rate for stated periods of time on investments which are subject to FBRICs.

Income from the FBRICs is reported net of administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value with certain restrictions related to the transfer of funds into a competing investment option. The Plan considers such factors as the benefit responsiveness of the investment contracts, the ability of the parties to the contracts to perform in accordance with the terms of the contracts and the likelihood of default by an issuer of an investment security in evaluating the components of the FBRICs.

The FBRICs accrue interest using a formula embedded in the contract called the "crediting rate." The FBRICs use the crediting rate formula to convert market value changes in the FBRICs' assets into income distributions in order to minimize the difference between the market and contract value of the FBRICs' assets over time. Using the crediting rate formula, an estimated future market value is calculated by compounding the Fixed Income Fund's current market value at the Fixed Income Fund's current yield to maturity for a period equal to the Fixed Income Fund's duration. The crediting rate is the discount rate
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Raytheon Savings and Investment Plan
Notes to Financial Statements
December 31, 2020 and 2019
that equates estimated future market value with the Fixed Income Fund's current contract value. The crediting rate is most impacted by the change in the annual effective yield to maturity of the underlying securities, but is also affected by the differential between the contract value and the market value of the wrapped investments. The difference is amortized over the duration of the investments. The magnitude of the impact of the contract value and the market value differential to the crediting rate is affected by the length of time between the reset period and the duration of the investments. Crediting rates are reset monthly. The FBRICs provide a guarantee that the crediting rate will not fall below 0%. Events disqualifying an underlying investment from being wrapped include, but are not limited to, bankruptcy, default or restricted liquidity of the security issuer.

The crediting rate, and hence the Fixed Income Fund's return, may be affected by many factors, including purchases and redemptions by participants. The precise impact on the Fixed Income Fund depends on whether the market value of the wrapped assets is higher or lower than the contract value of those assets. If the Fixed Income Fund experiences significant redemptions when the market value is below the contract value, the Fixed Income Fund's yield may be reduced significantly, to a level that is not competitive with other investment options. This may result in additional redemptions, which would tend to lower the crediting rate further. If redemptions continued, the Fixed Income Fund's yield could be reduced to zero. If redemptions continued thereafter, the Fixed Income Fund might have insufficient assets to meet redemption requests, at which point the Fixed Income Fund would require payments from the FBRICs Providers to pay further participant redemptions.

The Fixed Income Fund and the FBRICs purchased by the Fixed Income Fund are designed to pay all participant-initiated transactions at contract value. Participant-initiated transactions are those transactions allowed by the Plan (typically this would include withdrawals for benefits, loans or transfers to non-competing investment options within the Plan). However, the FBRICs limit the ability of the Fixed Income Fund to transact at contract value upon the occurrence of certain events. At this time, management believes the occurrence of any of these events is not probable. These events include:

1.The Plan's failure to qualify under Section 401(a) or Section 401(k) of the Code.
2.The establishment of a defined contribution plan that competes with the Plan for employee contributions.
3.Any substantive modification of the Plan or the administration of the Plan that is not consented to by the FBRIC Provider.
4.Complete or partial termination of the Plan.
5.Any known change in law, regulation or administrative ruling applicable to the Plan that could have a material adverse effect on the Fixed Income Fund's cash flow.
6.Any communication given to participants by the Plan Sponsor or any other Plan fiduciary that is designed to induce or influence participants not to invest in the Fixed Income Fund or to transfer assets out of the Fixed Income Fund.
7.Exclusion of a material group of previously eligible employees from eligibility in the Plan.
8.Any material early retirement program, group termination, group layoff, facility closing or similar program.
9.Any transfer of assets from the Fixed Income Fund directly to a competing option that would limit the ability of the fund to transact at no less than contract value.
10.Bankruptcy of the Plan Sponsor or other Plan Sponsor events which cause a significant withdrawal from the Plan.

A FBRIC Provider may terminate a FBRIC at any time. In the event that the market value of the Fixed Income Fund's wrapped assets is below their contract value at the time of such termination, the Trustee may elect to keep the FBRIC in place until such time as the market value of the Fixed Income Fund's wrapped assets is equal to their contract value. A FBRIC Provider may also terminate a FBRIC if FMTC's investment management authority over the Fixed Income Fund is limited or terminated, as well as if all of the terms of the FBRIC fail to be met. In the event that the market value of the Fixed Income Fund's wrapped assets is below their contract value at the time of such termination, the terminating FBRIC Provider would not be required to make a payment to the Fixed Income Fund.

FBRICs generally impose conditions on both the Plan and the FBRIC Provider. If an event of default occurs and is not cured, the non-defaulting party may terminate the FBRIC. The following may cause the Plan to be in default: a breach of material obligation under the contract; a material misrepresentation; or a material amendment to the Plan agreement. The FBRIC Provider may be in default if it: breaches a material obligation under the FBRIC; makes a material misrepresentation; has a decline in its long-term credit rating below a threshold set forth in the FBRIC; or is acquired or reorganized and the successor issuer does not satisfy the investment or credit guidelines applicable to issuers. The FBRIC Providers' ability to meet their contractual obligations under the respective FBRICs may be affected by future economic and regulatory developments in the insurance and banking industries. If, in the event of default of a FBRIC Provider, the Plan was unable to obtain a replacement FBRIC, withdrawing participants may experience losses if the value of the Fixed Income Fund's assets no longer covered by the
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Raytheon Savings and Investment Plan
Notes to Financial Statements
December 31, 2020 and 2019
FBRIC is below contract value. The Plan may seek to add additional issuers over time to diversify the Plan's exposure to such risk, but there is no assurance that the Plan will be able to do so. The combination of the default of a FBRIC Provider and an inability to obtain a replacement FBRIC could render the Plan unable to achieve its objective of maintaining a stable contract value. The terms of a FBRIC generally provide for settlement of payments only upon termination of the FBRIC or total liquidation of the wrapped investments. Generally, payments will be made pro-rata, based on the percentage of investments covered by each FBRIC Provider. FBRIC termination occurs whenever the contract value or market value of the wrapped investments reaches zero or upon certain events of default. If the FBRIC terminates due to the default of the FBRIC Provider (other than a default occurring because of a decline in its rating), the FBRIC Provider will generally be required to pay to the Plan the excess, if any, of contract value over market value on the date of termination. If a FBRIC terminates due to a decline in the ratings of the FBRIC Provider, the FBRIC Provider may be required to pay to the Plan the cost of acquiring a replacement contract (i.e. replacement cost) within the meaning of the FBRIC. If the FBRIC terminates when the market value equals zero, the FBRIC Provider will pay the excess of contract value over market value to the Plan to the extent necessary for the Plan to satisfy participant-initiated withdrawal requests. FBRIC termination also may occur by either party upon election and notice.

The FBRIC Provider may elect to terminate the FBRIC for no reason by giving certain notice to the Trustee. If, at any time, prior to dates agreed to in each FBRIC for the receipt of such notice, the Trustee objects to such election, the Trustee shall be deemed to have made an immunization election and the immunization provisions of the FBRIC apply. The immunization provision results in the wrapped portion of the Fixed Income Fund being managed according to more conservative immunization investment guidelines provided for in the FBRIC and the contract can terminate in segments over a period of time. In the event a FBRIC Provider sought to terminate its FBRIC or immunize its portion of the Fixed Income Fund, the Fund can seek to replace that FBRIC Provider with another financial institution.

Plans investing in FBRICs and fixed income securities are subject to a number of risks, including credit risk of underlying investments, risk associated with prepayment of collateralized mortgage obligations, risk that third parties will not perform under the FBRICs, risk associated with interest rate fluctuations and risk of losses caused by liquidation of contracts or investments to meet withdrawal demands.

5. Certain Transactions Involving Related Parties and Parties-In-Interest

The Trustee and the record keeper of the Plan are parties-in-interest with respect to the Plan. Certain Plan transactions involve the Trustee, the record keeper or other affiliates. For example, certain Plan investments are shares of registered investment companies managed by affiliates of the Trustee. The Plan also pays fees to the Trustee and the record keeper. In addition, the Plan has an agreement with the record keeper whereby certain credits are paid to the Trust by the record keeper and are held in Trust accounts until they are used to pay administrative expenses of the Plan or are allocated to the accounts of participants. For the year ended December 31, 2020, $351,746 of such credits were earned by the Trust.

Subject to the terms of the Plan document, the Plan makes certain loans to participants who are employees of Raytheon Company, and who are therefore parties-in-interest with respect to the Plan.

The Plan Sponsor is a related party and party-in-interest with respect to the Plan. In accordance with the provisions of the Plan, the Trustee acts as the Plan's agent for purchases and sales of shares of RTC common stock (and previously Raytheon Company common stock). Purchases amounted to $46,194,304 and sales amounted to $94,176,404 for the year ended December 31, 2020. Dividend income from shares of RTC common stock (and previously Raytheon Company common stock) amounted to $39,888,512 for the year ended December 31, 2020.

The Plan also incurs certain administrative expenses paid to parties-in-interest.

All of these transactions either fall outside the scope of, or are exempt from, ERISA's prohibited transaction rules.

6. Plan Termination

Although it has not expressed any intention to do so, the Company reserves the right under the Plan at any time to discontinue its contributions and to terminate the Plan subject to the provisions of ERISA. Upon termination of the Plan, all participants become fully vested in their accounts. In the event of Plan termination, after payment of all expenses and adjustment of accounts to reflect such expenses, fund losses or profits, and reallocations, each participant shall be entitled to receive all
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Raytheon Savings and Investment Plan
Notes to Financial Statements
December 31, 2020 and 2019
amounts in their account.

7. Federal Income Tax Status

The Internal Revenue Service ("IRS") has determined and informed the Company by letter dated June 25, 2012, that the design of the Plan meets the requirements for qualification under Code section 401(a), on which the tax exemption of the Trust under Code section 501(a) is based. The Plan has been amended since receiving the determination letter. The Company believes that the current design and operation of the Plan are consistent with preservation of the qualification of the Plan and exemption of the Trust in the context of applicable IRS procedures.

The Plan follows the provisions of uncertain tax positions that provide criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. The Plan may, from time to time, hold investments that give rise to certain tax liabilities. Based upon management's assessment, the Plan has not recognized any tax liabilities at December 31, 2020 or 2019. The Plan is subject to examinations by taxing jurisdictions. The Company believes the Plan is no longer subject to federal tax examination for years prior to 2017.

8. Risks and Uncertainties

The Plan provides for various investment options. These investment options are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment options of the Plan, it is reasonably possible that changes in the values of investment securities will occur and such change could materially affect participants' account balances and the Plan's financial statements.

Counterparty credit risk is the risk that a counterparty to a financial instrument will fail on a commitment that it has entered into with the Plan. The Plan minimizes concentrations of counterparty credit risk by undertaking transactions with multiple counterparties. The Plan's investment managers and FBRIC Providers have credit policies in place and the exposure to counterparty credit risk, as well as the creditworthiness of these counterparties, is monitored on an ongoing basis.
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Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Investment Contracts
Abbvie Inc3.6% 5/14/251,635,000 $1,821,900 
Abbvie Inc3.2% 11/21/295,835,000 6,535,948 
Abbvie Inc3.45% 03/15/222,295,000 2,366,877 
Abbvie Inc3.25% 10/01/22700,000 729,111 
Abbvie Inc2.6% 11/21/242,035,000 2,181,481 
Abbvie Inc2.3% 11/21/221,100,000 1,140,385 
AEP Texas Inc.3.95% 6/1/28930,000 1,087,553 
AerCap Ireland5% 10/211,052,000 1,082,881 
AerCap Ireland4.875% 1/16/24464,000 506,401 
AerCap Ireland3.15% 02/15/241,165,000 1,220,861 
AerCap Ireland4.125% 7/3/23312,000 334,135 
AIB Group4.263%/VAR 4/10/25 144A1,725,000 1,885,779 
AIG Global Funding2.3% 7/1/22 144A331,000 339,922 
AIG Global Funding0.8% 07/07/23 144A331,000 334,240 
AIG Global Funding0.9% 09/22/25 144A1,000,000 1,001,794 
Air Lease Corp3% 09/15/23413,000 434,179 
Air Lease Corp3.5% 01/15/20222,035,000 2,094,195 
Air Lease Corp4.25% 2/1/24987,000 1,070,987 
Air Lease Corp2.5% 02/01/25810,000 838,342 
Air Lease Corp 2.625% 07/01/22600,000 615,448 
Alabama Economic Settlement Authority3.163% 9/15/25295,000 312,287 
Ally Auto Receivable Trust2.92% 11/22263,336 265,336 
Ally Wholesale Enterprises LLC2.7% 01/17/2023800,000 800,715 
Ally Wholesale Enterprises LLC3.29% 05/15/20231,030,000 1,041,404 
Altria Group Inc2.85% 8/09/22520,000 539,993 
Altria Group Inc3.4% 05/06/30445,000 499,026 
Altria Group Inc2.35% 05/06/251,005,000 1,067,588 
Altria Group Inc3.49% 2/14/22341,000 352,627 
Altria Group Inc3.8% 2/14/24411,000 448,744 
Amazon.com Inc3.29% 05/15/2023559,000 567,085 
Ameren Corp2.5% 9/15/24480,000 511,472 
American Express Co3.375% 05/213,545,000 3,575,747 
American Electric Power3.7% 08/03/231,020,000 1,104,476 
American Express Credit Account Master2.99% 12/23815,000 823,343 
American Express Credit Account Master3.06% 2/15/24826,000 838,631 
American Express Credit Account Master2.67% 2/7/201,123,000 1,158,135 
American Express Credit Account Master2.87% 10/15/24359,000 370,416 
American Honda1.2% 07/08/251,140,000 1,166,375 
American Honda0.4% 10/21/22863,000 864,188 
American International Group4.125% 2/24600,000 664,245 
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Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
American International Group3.3% 3/1/211,126,000 1,128,371 
American Tower 2.25% 01/15/221,000,000 1,019,178 
American Tower 2.4% 03/15/25520,000 552,825 
Ameriprise Financial Inc3% 04/02/251,060,000 1,153,768 
Amphenol Corp3.2% 4/1/24145,000 156,166 
Anhueser-Busch4.15% 1/23/25793,000 902,937 
Anthem Inc2.95% 12/01/22555,000 581,392 
Aon Corp2.2% 11/15/22744,000 768,949 
Apple Inc1.65% 05/11/304,020,000 4,137,945 
APT Pipelines3.875% 10/22 144A1,315,000 1,378,160 
Arch Capital Finance4.011% 12/15/26375,000 435,937 
AT&T Inc3% 6/30/22580,000 600,248 
AT&T Inc4.35% 3/1/295,370,000 6,400,126 
AT&T Inc2.3% 06/01/27405,000 431,673 
AT&T Inc1.65% 02/01/281,081,000 1,102,438 
Athene Global Funding2.5% 01/14/25 144A1,080,000 1,131,130 
Ausgrid Finance3.85% 5/1/23 144A859,000 907,028 
Autozone, Inc.3.625% 04/15/251,055,000 1,181,548 
Autozone, Inc.3.125% 7/15/23577,000 610,565 
Avangrid Inc3.2% 04/15/251,530,000 1,674,632 
Avolon Holdings3.95% 7/1/24 144A1,105,000 1,166,894 
Avolon Holdings2.875% 02/15/25 144A1,080,000 1,101,039 
Avolon Holdings4.25% 04/15/26 144A880,000 947,871 
AXA Equitable Holdings, Inc3.9% 4/20/2377,000 82,838 
BAE Systems Plc3.4% 04/15/30 144A320,000 362,330 
Baker Hughes2.773% 12/15/221,375,000 1,435,988 
Banco Bilbao Vizcaya Argentaria1.125% 09/18/251,400,000 1,409,804 
Banco Santander, S.A.3.848% 4/12/23800,000 859,236 
Banco Santander, S.A.3ML+112 04/23400,000 404,015 
Banco Santander, S.A.3.5% 4/11/221,600,000 1,661,483 
Banco Santander, S.A.2.746% 05/28/25600,000 640,386 
Bank 2018-BN11 A23.784% 03/614,200,000 4,796,190 
Bank of America Corp3.289% 07/601,000,000 1,090,041 
Bank of America Corp3.3% 1/11/232,285,000 2,422,453 
Bank of America Corp4% 01/22/251,225,000 1,376,482 
Bank of America Corp3.95% 4/21/251,120,000 1,262,507 
Bank of America Corp4.45% 3/03/261,815,000 2,115,171 
Bank of America Corp3.824%/VAR 1/20/282,740,000 3,145,992 
Bank of America Corp3.593%/VAR 07/281,560,000 1,771,496 
Bank of America Corp3.004%/VAR 12/20/235,472,000 5,762,024 
Bank of America Corp3.55%/VAR 3/242,250,000 2,403,993 
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Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Bank of America Corp3ML+63 05/221,335,000 1,350,809 
Bank of America Corp3.456% VAR 3/15/251,090,000 1,186,608 
Bank of America Corp1.97% VAR 10/24/266,308,000 6,390,553 
Bank of America Corp3.875% 08/01/251,110,000 1,265,865 
Bank of America Corp2.881%/VAR 4/24/231,050,000 1,083,483 
Bank of America Corp2.015%/VAR 02/13/261,590,000 1,666,068 
Bank of America Corp3.864% 07/23/20242,000,000 2,168,262 
Bank of America Corp2.456%/VAR 10/22/251,100,000 1,172,426 
Bank of America Corp1.319%/VAR 6/19/261,000,000 1,021,118 
Bank of America Credit Card Trust2.7% 7/17/231,000,000 1,003,009 
Bank of America Credit Card Trust0.34% 5/15/261,508,000 1,509,844 
Bank of Montreal1.85% 5/1/251,985,000 2,083,487 
Bank of New York Mellon2.661%/VAR 5/231,310,000 1,350,009 
Bank of Montreal1.6% 04/24/25454,000 474,552 
Bank of Nova Scotia1.625% 05/01/231,750,000 1,800,246 
Bank of Nova Scotia1.3% 06/11/251,190,000 1,220,749 
Bank of Nova Scotia3.4% 2/11/241,000,000 1,088,050 
Bank of Nova Scotia0.55% 09/15/231,225,000 1,229,670 
Bank of the West Auto Trust2.11% 1/15/23197,819 198,640 
Bank of the West Auto Trust3.52% 12/15/22173,473 174,875 
Bank of the West Auto Trust2.43% 4/15/24489,000 498,293 
Bank of Tokyo-Mitsubishi3.75% 3/10/24 144A1,290,000 1,415,231 
Banque Federative du Credit Mutuel3.75% 7/20/23 144A1,290,000 1,394,037 
Banque Federative du Credit Mutuel2.375% 11/21/24 144A1,075,000 1,139,479 
Barclays plc1ML+68.5 12/15/31 144A4,206,363 4,201,344 
Barclays plc4.337% 01/10/282,045,000 2,348,433 
Barclays plc4.972%/VAR 5/16/29745,000 893,336 
Barclays plc2.852%/VAR 05/07/262,619,000 2,812,094 
Barclays plc3.684% 1/10/231,045,000 1,077,006 
Barclays plc4.61%/VAR 2/15/231,570,000 1,638,940 
Barclays plc3ML+161/VAR 5/7/252,000,000 2,187,656 
Barclays plc3.2% 08/10/212,000,000 2,032,967 
Barclays plc4.338/VAR 05/16/2024650,000 703,459 
Benchmark 2018-B7 Mortgage Trust A21.007%/VAR 12/10/24677,000 681,528 
Benchmark 2018-B8 Mortgage Trust A21.7% 05/12/22230,000 234,062 
BAT International Finance1.668% 03/25/261,600,000 1,637,402 
Bay Area Toll Authority2.574% 4/1/311,495,000 1,612,238 
Bayer US Finance3% 10/08/21 144A1,115,000 1,133,987 
Bayer US Finance4.25% 12/15/25 144A850,000 971,413 
BB&T Corporation2.5% 8/1/24460,000 489,862 
BBCMS 2020-C8 A31.617% 10/15/534,300,000 4,383,911 
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Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Benchmark 2018-B2 Mortgage Trust A23.6623% 02/51856,000 894,559 
Benchmark 2018-B2 Mortgage Trust A33.5439% 02/515,000,000 5,449,706 
Benchmark 2018-B7 Mortgage Trust A24.377% 05/53513,000 556,194 
Benchmark 2018-B8 Mortgage Trust A24.149% 1/15/52593,000 642,135 
Benchmark 2019-B9 Mortgage Trust2.667% 12/15/724,400,000 4,736,026 
Berkshire Hathaway Energy4.05% 04/15/251,871,000 2,118,078 
Berkshire Hathaway Energy2.8% 1/15/23886,000 928,249 
Berkshire Hathaway Inc3.125% 03/15/26230,000 256,923 
BMARK 2020-B20 A31.9454% 10/15/532,500,000 2,595,604 
BMW Floorplan Master Owner Trust3.15% 5/15/23 144A753,000 760,901 
BMW US Capital3.45% 04/12/23 144A1,555,000 1,656,998 
BMW US Capital3.8% 04/06/23 144A1,465,000 1,573,315 
BMW US Capital2.7% 04/06/22 144A937,000 962,999 
BMW Vehicle Lease Trust3.26% 7/20/2146,876 46,949 
BMW Vehicle Lease Trust2.84% 11/22/21291,198 292,225 
BNP Paribas1.904%/VAR 09/30/28 144A2,125,000 2,169,002 
BNP Paribas2.819%/VAR 11/19/25 144A1,085,000 1,159,184 
BNP Paribas2.219%/VAR 06/09/26 144A1,120,000 1,171,989 
Boeing Co5.15% 05/01/304,695,000 5,681,748 
Boston Scientific Corp3.45% 3/1/24338,000 366,085 
BP Capital Markets America3.79% 2/241,520,000 1,660,885 
BP Capital Markets America3.245% 05/06/22625,000 649,851 
Canadian Natural Resources3.194% 04/06/254,825,000 5,304,701 
BP Capital Markets America3.216% 11/28/231,125,000 1,206,089 
BP Capital Markets America2.937% 04/06/232,009,000 2,120,038 
BPCE SA4% 09/12/23 144A1,480,000 1,609,985 
BPCE SA1.652%/VAR 10/06/26 144A875,000 895,219 
Braemar Hotels & Resorts Trust Series1ML+06/15/351,440,000 1,402,807 
Bristol Meyers Squibb3.4% 07/26/291,800,000 2,094,628 
Bristol Meyers Squibb3.625% 05/15/244,375,000 4,795,870 
Bristol Meyers Squibb2.6% 05/16/22865,000 892,509 
Bristol Meyers Squibb2.9% 07/26/241,000,000 1,085,123 
British American Tobacco2.789% 9/6/241,090,000 1,165,048 
British American Tobacco4.7% 04/02/27545,000 640,612 
British American Tobacco3.222% 08/15/24500,000 541,302 
Broadcom Inc4.11% 09/15/282,315,000 2,648,339 
Broadcom Inc3.459% 09/15/2693,000 103,164 
Broadcom Inc3.15% 11/15/251,260,000 1,374,805 
Broadcom Inc4.7% 04/15/252,400,000 2,749,811 
Bunge LTD Finance Corp1.63% 08/17/251,195,000 1,234,789 
Burlington North Santa Fe4.1% 6/212,000,000 2,011,817 
BX 2020-BXLP A1ML+82.15 12/15/29 144A1,204,897 1,205,271 
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Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
California State2.40% 10/1/25720,000 781,574 
Campbell Soup Company3.65% 3/15/23319,000 340,593 
Canadian Imperial Bank2.606%/VAR 7/22/231,610,000 1,665,426 
Canadian Imperial Bank2.55% 6/22500,000 516,895 
Canadian Natural Resources2.95% 1/15/233,020,000 3,158,398 
Canadian Natural Resources3.45% 11/15/21525,000 534,402 
Canadian Natural Resources2.05% 07/15/25562,000 589,408 
Canadian Pacer Auto Receivable Trust 2018-1A A33.088% 11/21 144A17,314 17,334 
Canadian Pacer Auto Receivable Trust 2018-2A A33.27% 12/22397,857 402,866 
Capital One Bank2.65% 08/08/22520,000 538,452 
Capital One Bank2.15% 9/6/22295,000 303,178 
Capital One Bank2.28%/VAR 01/28/261,100,000 1,150,512 
Capital One Financial3.45% 4/213,660,000 3,687,178 
Capital One Financial3.9% 1/29/24835,000 914,514 
Capital One Financial2.6% 05/11/231,270,000 1,331,280 
Capital One Financial3.2% 01/30/20231,000,000 1,053,547 
Capital One Multi-Asset Execution Trust2.84% 12/15/241,156,000 1,189,818 
CarMax3.13% 6/15/23839,553 853,513 
CarMax1.97% 04/22103,046 103,216 
CarMax2.98% 01/23821,262 830,086 
CarMax2.68% 3/15/241,280,000 1,309,880 
CarMax2.11% 10/17/2278,138 78,438 
CarMax3.36% 09/23448,467 457,917 
CarMax3.05% 3/15/24679,737 694,487 
CarMax0.5% 08/15/25767,000 769,780 
Carrier Global Corp2.242% 02/15/25601,000 636,296 
CDP Financial Inc3.15% 7/24 144A620,000 678,476 
Celanese US Holdings3.5% 5/8/24685,000 741,688 
CenterPoint Energy2.50% 09/01/22189,000 195,352 
CFCRE 2016-C4 Mortgage Trust A33.014% 05/582,500,000 2,679,195 
CGDBB Commercial Mortgage Trust1ML+79 7/281,900,170 1,900,890 
Charter Communications Operating4.908% 7/23/25885,000 1,028,238 
Charter Communications Operating4.464% 7/23/223,445,000 3,631,768 
Charter Communications Operating2.3% 02/01/322,900,000 2,901,519 
Chevron Corp1.554% 05/11/251,200,000 1,246,360 
Chevron Phillips Chemical3.3% 5/23 144A480,000 508,032 
Chevron USA Inc0.426% 08/11/23549,000 551,717 
Cigna Corp4.375% 10/15/283,545,000 4,282,925 
Cigna Corp3.4% 9/17/21730,000 745,688 
Cigna Corp3.75% 7/15/23248,000 268,089 
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Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Citibank Credit Card Issuance Trust2.49% 1/231,020,000 1,021,253 
Citibank N.A.2.844%/VAR 5/20/223,930,000 3,967,593 
Citibank N.A.3.65% 1/23/241,000,000 1,092,992 
Citigroup Commercial Mortgage Trust4.149% 1/10/367,545,000 8,199,930 
Citigroup Commercial Mortgage Trust3.024% 9/45390,550 399,692 
Citigroup Commercial Mortgage Trust3.093% 04/46111,000 116,411 
Citigroup Commercial Mortgage Trust4.371% 9/46294,000 320,709 
Citigroup Commercial Mortgage Trust4.131% 11/46383,000 416,135 
Citigroup Commercial Mortgage Trust3.477% 5/10/47221,510 231,829 
Citigroup Commercial Mortgage Trust3.356% 7/47602,364 652,309 
Citigroup Commercial Mortgage Trust3.368% 02/49457,000 486,323 
Citigroup Commercial Mortgage Trust3.212% 4/50388,000 395,810 
Citigroup Inc4.4% 6/10/251,080,000 1,234,888 
Citigroup Inc4.45% 9/29/27965,000 1,137,738 
Citigroup Inc3.7% 1/12/264,390,000 4,987,497 
Citigroup Inc2.7% 10/27/20221,050,000 1,091,982 
Citigroup Inc3.106%/VAR 04/08/264,810,000 5,254,206 
Citigroup Inc2.976%/VAR 11/5/302,230,000 2,454,650 
Citigroup Inc2.876%/VAR 07/24/232,439,000 2,533,511 
Citigroup Inc3.142%/VAR 1/24/232,116,000 2,175,811 
Citigroup Inc0.776%/VAR 10/30/241,140,000 1,147,310 
Citigroup Inc2.75% 04/25/2022650,000 669,410 
Citigroup Inc2.312%/VAR 11/4/22500,000 508,009 
Citizens Bank3.25% 2/14/222,005,000 2,064,185 
Citizens Bank2.25% 04/28/252,459,000 2,608,662 
Citizens Bank2.65% 5/26/22450,000 463,194 
Citizens Bank2.375% 7/28/2176,000 76,732 
CNH Equipment Trust3.12% 07/17/2023399,613 404,759 
Comcast Corporation3.375% 08/15/25565,000 630,334 
Comcast Corporation3.1% 04/01/251,858,000 2,044,179 
Comcast Corporation3.7% 04/15/20241,000,000 1,100,047 
Comcast Corporation3.95% 10/15/25476,000 546,754 
COMM 13-CR12 A44.046% 10/463,600,000 3,898,046 
COMM 14-UBS6 ASB3.387% 12/47156,272 164,342 
COMM 15-CCRE24 A43.432% 8/554,154,845 4,587,481 
COMM 15-CR23 ASB3.257% 05/48294,021 309,895 
COMM 15-CR26 ASB3.373% 10/48208,706 221,242 
COMM 2012-CR3 A32.822% 10/45423,422 434,109 
COMM 2012-CR3 ASB2.372% 11/45179,779 182,120 
COMM 2012-LC4 A43.288% 12/44865,155 877,121 
COMM 2013-300P4.353% 8/10/302,620,000 2,803,385 
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Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
COMM 2013-CR7 A43.213% 03/46421,465 443,505 
COMM 2013-CR7 ASB2.739% 03/461,750,182 1,792,660 
COMM 2013-CR8 A53.612% 06/46301,000 320,865 
COMM 2015-CR22 A22.856% 3/4874,991 74,970 
COMM 2015-CR22 ASB3.144% 3/48270,621 283,493 
COMM 2015-CR23 A22.852% 05/48177,214 178,623 
COMM 2015-CR25 A33.505% 8/483,238,122 3,509,510 
COMM 2015-DC1 A43.078% 2/483,000,000 3,161,485 
Commonwealth Edison3.4% 9/01/211,615,000 1,635,321 
Commonwealth Edison2.95% 08/15/271,040,000 1,154,186 
Compass Bank2.875% 6/29/221,992,000 2,064,211 
Compass Bank3.5% 6/11/21610,000 616,890 
Concho Resources Inc3.75% 10/01/27660,000 754,029 
Cooperative RaboBank UA1.339%/VAR 06/24/26 144A1,180,000 1,204,694 
Corporacion Andina De Formento2.125% 9/27/21485,000 490,466 
Corporacion Andina De Formento2.75% 1/23400,000 414,252 
Costco Wholesale Corp1.375% 06/20/27409,000 421,212 
Cox Communications Inc3.5% 8/15/27 144A4,000,000 4,520,337 
Credit Agricole S.A.3.75% 4/24/23 144A820,000 880,200 
Credit Agricole S.A.1.907%/VAR 06/16/26 144A840,000 871,075 
Credit Suisse3% 10/29/212,280,000 2,329,999 
Credit Suisse3.574% 1/23 144A2,050,000 2,112,075 
Credit Suisse2.193%/VAR 06/05/26 144A795,000 830,648 
Credit Suisse3.625% 09/09/241,000,000 1,110,726 
Credit Suisse2.593%/VAR 9/11/25 144A801,000 842,728 
Credit Suisse3.45% 4/16/211,500,000 1,513,743 
Credit Suisse2.1% 11/12/21662,000 672,212 
Credit Suisse2.8% 04/08/22478,000 493,451 
Credit Suisse1% 05/05/231,000,000 1,015,064 
Credit SuisseSOFR+45 02/04/221,080,000 1,081,896 
Credit Suisse Mortgage Capital1ML+98.535 5/15/36 144A2,690,000 2,693,603 
CSAIL 2015-C2 A-SB Commerical Mortgage Trust3.2241% 6/57302,786 318,130 
CSAIL 2015-C3 A43.7182% 08/15/48753,000 837,877 
CSAIL 2017-CX9 A2 Commerical Mortgage Trust3.0538% 9/15/50641,000 661,474 
CSAIL 2018-CX11 A-SB Commercial Mortgage Trust4.0339% 4/512,400,000 2,710,974 
CSAIL 2019-C15 Commercial Mortgage Trust3.4505% 3/15/52597,000 637,406 
CVS Health Corporation3.875% 7/20/252,000,000 2,266,326 
CVS Health Corporation5% 12/1/242,045,000 2,349,356 
CVS Health Corporation3.7% 03/09/23270,000 289,027 
19

Table of Contents
Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
CVS Health Corporation1.3% 08/21/271,360,000 1,365,729 
CVS Health Corporation2.125% 6/01/211,000,000 1,005,920 
CVS Health Corporation3.35% 03/09/21755,000 759,140 
Daimler Financial3.35% 5/21 144A1,230,000 1,241,792 
Daimler Financial3.4% 2/22/22 144A1,065,000 1,099,892 
Daimler Financial2.55% 8/15/22 144A1,090,000 1,126,979 
Daimler Financial1.75% 03/10/23 144A1,225,000 1,257,603 
Daimler Financial2.85% 1/6/22 144A504,000 516,021 
Daimler Financial2.3% 2/12/21 144A500,000 501,008 
DBGS BIOD Mortgage Trust1ML+80.3 05/351,647,447 1,647,424 
DBUBS Mortgage Trust4.537% 7/44573,151 576,052 
Deere & Company2.75% 04/15/2572,000 78,458 
Dell Equipment Finance Trust3.18% 06/22/2347,593 47,778 
Dell Equipment Finance Trust0.57% 10/23/23590,000 592,011 
Deutsche Bank AG3.375% 5/12/211,760,000 1,775,793 
Deutsche Bank AG2.129%/VAR 11/24/262,657,000 2,717,409 
Diamond Finance5.45% 6/23 144A939,000 1,038,493 
Discover Bank3.45% 7/27/26250,000 279,532 
Discover Bank3.35% 2/06/23500,000 527,566 
Discover Card Execution Note Trust1ML+60 12/261,660,000 1,676,759 
Discover Card Execution Note Trust3.32% 3/241,038,000 1,060,734 
Discover Card Execution Note Trust3.04% 7/15/24852,000 877,206 
Discover Financial3.75% 3/04/251,190,000 1,309,479 
Dominion Energy Inc2.715% 8/21850,000 860,482 
Dominion Energy Inc3.3% 03/15/25980,000 1,078,846 
Dominion Resources Inc4.104% 4/1/21750,000 756,660 
Dominion Resources Inc2.5% 11/15/24188,000 201,097 
Dominion Resources Inc2% 8/15/21251,000 253,096 
DowDuPont Inc.4.205% 11/15/231,030,000 1,136,257 
DTE Energy2.25% 11/1/221,000,000 1,034,885 
Duke Energy3.95% 11/15/281,075,000 1,281,620 
Duke Energy1.8% 9/01/21245,000 247,121 
Duke Energy3.05% 3/15/23675,000 713,041 
Ecopetrol S.A.5.875% 09/18/20231,500,000 1,672,500 
Electronic Arts3.7% 3/01/211,080,000 1,082,441 
Emera US Finance2.7% 6/15/212,695,000 2,715,962 
Enbridge Inc2.9% 07/15/221,100,000 1,140,604 
Energy Transfer Operating, LP4.2% 04/15/27880,000 969,311 
Energy Transfer Operating, LP4.95% 06/15/28570,000 656,721 
Energy Transfer Operating, LP5.5% 6/1/27500,000 589,021 
Energy Transfer Operating, LP3.75% 05/15/301,165,000 1,255,982 
20

Table of Contents
Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Enterprise Products3.9% 2/15/242,035,000 2,224,381 
Enterprise Products2.85% 4/15/21323,000 324,576 
Enterprise Products2.8% 02/15/2021305,000 305,861 
Equinor ASA1.75% 01/22/26187,000 196,395 
Equitable Financial Life1.4% 07/07/25 144A1,020,000 1,047,411 
Equitable Financial Life0.5% 11/17/23 144A1,250,000 1,250,624 
ERAC USA Finance3.3% 10/22 144A745,000 782,389 
ERAC USA Finance3.8% 11/01/25 144A225,000 253,193 
ERAC USA Finance2.7% 11/1/23 144A3,500,000 3,691,678 
Erp Operating Lp4.625% 12/15/2115,000 15,432 
Evergy Inc2.45% 9/15/24810,000 858,745 
Eversource Energy1.65% 08/15/301,345,000 1,338,762 
Eversource Energy2.5% 3/15/21520,000 521,247 
Eversource Energy2.75% 3/15/22574,000 589,128 
Exelon Corporation4.25% 6/15/221,290,000 1,346,923 
Exelon Corporation3.25% 06/01/25935,000 1,020,998 
Exelon CorporationVAR 6/1/22376,000 391,102 
Experian Finance plc2.75% 3/8/30 144A1,795,000 1,947,905 
Export Development Canada2.5% 01/24/23975,000 1,021,417 
Fannie Mae2.375% 01/19/23480,000 501,958 
Fannie Mae2.5% 2/5/24270,000 289,146 
Fannie Mae0.875% 08/05/301,500,000 1,472,309 
Fannie Mae0.375% 08/25/252,000,000 1,999,126 
Fannie Mae0.75% 10/08/273,000,000 3,011,831 
Fannie MaeG93-3 K 7% 2/234,645 4,858 
Fannie Mae6.625% 11/15/301,935,000 2,928,292 
Fannie Mae2001-7 PF 7% 3/311,646 1,964 
Fannie Mae2013-72 KE 3.5% 2/43557,071 591,709 
Fannie Mae2015-M8 Ab2 2.829% 01/25617,586 660,004 
Fannie Mae2016-M5 Ab2 2.375% 4/26756,390 799,828 
Fannie Mae2016-M11 Ab2 2.254% 7/262,398,360 2,537,718 
Fannie Mae2016-M12 Ab2 2.362% 9/262,336,246 2,465,937 
Fannie Mae2018-M4 A1 VAR 11/271,614,508 1,745,839 
Fannie Mae2018-M7 A1 VAR 03/283,012,851 3,311,933 
Fannie Mae2018-M8 A1 VAR 09/273,443,978 3,832,173 
Fannie Mae2018-M14 A1 3.5778% 8/25/283,304,868 3,721,298 
Fannie Mae2018-M14 A2 VAR 08/283,100,000 3,648,599 
Fannie Mae2018-M13 A1 VAR 03/302,353,864 2,731,859 
Fannie Mae3.024% 8/25/284,090,701 4,462,873 
Fannie Mae2.079% 8/25/293,692,052 3,915,266 
Fannie Mae2% 2/25/314,089,935 4,319,309 
21

Table of Contents
Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Fannie Mae2.142% 11/25/294,706,720 4,982,455 
Fannie Mae1.754% 5/25/332,815,913 2,899,295 
Fannie Mae15YR 5.50% 9/23 #AL022920,463 21,029 
Fannie Mae2001-44 PD 7% 9/314,411 5,304 
Fannie Mae2003-W4 2A 6.5% 10/426,288 7,153 
Fannie Mae7.50% 11/37 #88889261,695 74,751 
Fannie Mae15YR 6.50% 1/23 #88911133,029 34,207 
Fannie Mae15YR 6.00% 2/23 #88963434,011 35,056 
Fannie Mae7.50% 11/38 #99550457,449 69,531 
Fannie Mae1992-205 Z 7% 11/2211,138 11,657 
Fannie Mae1994-40 Z 6.5% 3/2442,180 45,269 
Fannie Mae1997-46 PL 6% 7/2782,674 90,882 
Fannie Mae3.5% 4/25/423,049,913 3,262,430 
Fannie Mae2013-18 Md 1.75% 2/33901,418 922,999 
Fannie Mae3% 5/25/423,535,915 3,620,363 
Fannie Mae2.25% 06/25/422,242,333 2,319,137 
Fannie Mae2013-73 Tk 3.5% 9/42499,770 533,857 
Fannie Mae3% 11/25/24,790,954 4,893,019 
Fannie Mae2013-130 Cg 4% 6/43491,826 522,978 
Fannie Mae2014-21 Ga 3% 4/3977,574 77,555 
Fannie Mae2014-64 Nk 3% 12/3778,022 78,001 
Fannie Mae3% 10/25/40918,329 947,544 
Fannie Mae3.0% 01/25/421,080,000 1,120,975 
Fannie Mae3% 01/25/451,481,116 1,572,812 
Fannie Mae2015-7 Ga 3% 9/39471,858 473,865 
Fannie Mae3% 7/25/401,993,052 2,014,141 
Fannie Mae3% 12/25/26625,097 652,008 
Fannie Mae3% 03/25/461,996,911 2,123,967 
Fannie Mae2016-25 Ha 3% 2/38127,344 127,438 
Fannie Mae2016-42 DA 3% 07/452,321,868 2,453,985 
Fannie Mae2017-4 BA 3.5% 05/41582,618 587,807 
Fannie Mae2011-87 Ja 3% 6/25/40336,621 340,302 
Fannie Mae2011-123 Jg 2.5% 3/411,022,884 1,063,613 
Fannie Mae1.75% 02/25/421,282,724 1,316,242 
Fannie Mae2017-96 KA 3% 01/553,173,461 3,365,495 
Fannie Mae3.5% 1/25/471,597,278 1,697,769 
Fannie Mae20YR 6.00% 9/21 #2539991,035 1,046 
Fannie Mae20YR 6.00% 11/22 #2545444,429 4,981 
Fannie Mae20YR 6.00% 10/27 #25692851,699 58,463 
Fannie Mae20YR 6.00% 1/28 #25704849,136 55,564 
Fannie Mae6.00% 2/28 #25707644,759 50,615 
22

Table of Contents
Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Fannie Mae4.0% 11/01/41 #AJ5301973,010 1,079,610 
Fannie Mae3.5% 09/32 #AL24904,161,439 4,547,610 
Fannie Mae2.5% 07/01/28 #AL39221,365,612 1,427,025 
Fannie Mae4.0% 01/01/35 #AL6238412,929 455,588 
Fannie Mae15Yr 3.5% 12/29#As4198401,444 432,634 
Fannie Mae30Yr 3% 03/01/33 #AR8632472,059 501,244 
Fannie Mae15Yr 3.5% 3/29#Av9229316,359 339,059 
Fannie Mae20Yr 3.5% 05/01/35 #AY9087801,555 872,931 
Fannie Mae5% 07/25/371,351,628 1,515,013 
Fannie Mae2009-10 AB 5% 3/242,949 3,076 
Fannie Mae2% 09/251,303,780 1,349,861 
Fannie Mae2010-68 Hj 4.5% 6/401,428,653 1,535,880 
Fannie Mae2010-104 Pg 2.5% 11/391,081,329 1,117,608 
Fannie Mae3% 2/1/33 #BM54642,153,966 2,274,777 
Fannie Mae30Yr 4.5% 10/45 #FM16771,984,573 2,223,109 
Fannie Mae15YR 6.00% 6/22 #94435719,607 20,138 
Fannie Mae20Yr 3.0% 09/01/32 #AB6263895,277 957,903 
Fannie Mae5.00% 7/30 #MA04723,811,782 4,276,081 
Fannie Mae20Yr 3.5% 06/01/32 #MA1084648,004 699,024 
Fannie Mae3.5% 11/1/33 #MA16523,528,468 3,800,769 
Fannie Mae20Yr 4.0% 12/33/ #MA16891,452,743 1,580,124 
Fannie Mae30Yr 4% 11/01/40 #AE8218834,879 926,154 
Fannie Mae2012-149 DA 1.75% 01/4361,459 63,442 
Fannie Mae1.5% 1/25408,073 414,184 
Fannie Mae1.5% 2/25/43597,062 606,014 
Fannie Mae2013-16 GP 3% 3/33296,765 310,123 
Fannie Mae1.85% 05/25/33566,622 579,753 
Fannie Mae2014-83 P 3% 6/43386,829 411,996 
Fannie Mae2015-28 P 2.5% 5/45769,419 808,308 
Fannie Mae2015-28 Je 3% 5/45625,878 665,316 
Fannie Mae2015-42 Le 3% 6/45519,013 550,679 
Fannie Mae2015-54 GA 2.5% 07/4565,570 68,428 
Fannie Mae2016-19 Ah 3% 4/46360,455 383,785 
Fannie Mae2016-26 Cg 3% 5/461,135,769 1,206,350 
Fannie Mae2016-27 Hk 3% 1/41582,714 620,921 
Fannie Mae2016-27 Kg 3% 1/40244,057 260,453 
Fannie Mae2016-37 Bk 3% 6/461,179,096 1,251,680 
Fannie Mae2016-34 Gh 3% 6/461,085,296 1,167,178 
Fannie Mae2016-105 Pa 3.5% 4/45485,105 515,335 
Fannie Mae2016-100 P 3.5% 11/44841,785 899,643 
Fannie Mae2017-11 HA 3.5% 12/45951,385 1,016,883 
23

Table of Contents
Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Fannie Mae2017-20 AP 3.5% 03/451,149,902 1,221,729 
Fannie Mae2017-74 PA 3.5% 11/45822,744 870,742 
Fannie Mae2% 06/25/351,451,306 1,503,637 
Fannie Mae2017-97 P 3% 01/47620,597 656,885 
Fannie Mae2018-3 LP 3% 02/471,685,411 1,781,930 
Fannie Mae2018-16 NB 3.25% 12/44464,094 473,757 
Fannie Mae2018-11 LA 3.5% 7/45721,351 752,394 
Fannie Mae2018-44 PA 3.5% 06/441,614,191 1,632,882 
Fannie Mae3.5% 2/25/46916,103 962,540 
Fannie Mae3.5% 10/25/44811,026 860,058 
Fannie Mae2018-88 BA 4% 11/25/43419,337 423,108 
Fannie Mae4% 3/25440,248 473,990 
Fannie Mae4% 11/25/48717,479 755,336 
Fannie Mae3% 3/25/482,256,793 2,364,733 
Fannie Mae3% 7/251,124,429 1,182,699 
Fannie Mae2.5% 10/25/39674,566 702,701 
Fannie Mae6.50% 10/21 #254044292 296 
Fannie Mae5.50% 11/34 #310105197,583 227,734 
Fannie Mae20YR 2.5% 01/33#AL2974152,810 163,212 
Fannie Mae20YR 2.5% 01/33#AL2975180,002 191,411 
Fannie Mae20YR 2.5% 01/33#AL297699,011 105,008 
Fannie Mae20YR 2.5% 01/33#AL2982124,185 133,105 
Fannie Mae15Yr 3.5% 10/29#Al585194,114 101,838 
Fannie Mae15Yr 3.5% 9/29#Al5878247,491 267,802 
Fannie Mae15Yr 4.5% 11/25#Al8242101,653 106,348 
Fannie Mae2.5% 10/1/31 #AS8010470,139 495,689 
Fannie Mae20YR 6.50% 12/21 #54541982 83 
Fannie Mae6.50% 7/32 #54575910,548 12,314 
Fannie Mae6.50% 7/32 #5457625,190 6,051 
Fannie Mae6.00% 4/25 #66071926,851 28,315 
Fannie Mae2011-5 PA 4% 10/25534 534 
Fannie Mae2011-26 PA 4.5% 04/41203,180 224,931 
Fannie Mae4% 5/29 #BM54991,665,975 1,768,340 
Fannie Mae3% 12/31 #BM1790442,856 466,726 
Fannie Mae3.5% 07/32#BM3929807,616 871,204 
Fannie Mae3% 12/1/32 #BM51092,584,303 2,729,250 
Fannie Mae3% 9/1/32 #BM51101,233,830 1,303,803 
Fannie Mae3.5% 02/01/35 #FM10451,100,645 1,192,349 
Fannie Mae4.5% 6/1/39 #FM104579,751 87,318 
Fannie Mae4.5% 8/1/39 #FM1353191,340 210,930 
Fannie Mae3% 6/1/33753,102 795,106 
24

Table of Contents
Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Fannie Mae4.5% 9/1/49 #FM15341,284,465 1,417,417 
Fannie Mae3.5% 9/1/34 #FM1577943,147 1,021,728 
Fannie Mae3.5% 09/01/34 #FM1578424,121 457,867 
Fannie Mae3.5% 10/01/34 #FM1579295,066 317,346 
Fannie Mae4.5% #FM1774142,831 156,383 
Fannie Mae2.5% 11/29 #FM26922,287,822 2,392,853 
Fannie Mae4% 03/01/34 #FM28672,850,339 3,120,784 
Fannie Mae3% 03/01/50 #FM28702,636,982 2,828,858 
Fannie Mae4% 02/01/34 #FM30011,458,043 1,589,094 
Fannie Mae3% 12/01/40 #FM47101,240,590 1,333,185 
Fannie Mae3% 12/01/40 #FM47111,622,556 1,732,506 
Fannie Mae6.50% 11/22 #7351371,101 1,123 
Fannie Mae6.50% 12/32 #7354155,468 6,379 
Fannie Mae6.50% 7/35 #7450925,975 7,027 
Fannie Mae15YR 4.50% 7/21 #845515144 144 
Fannie Mae15YR 4.50% 1/21 #852735
Fannie Mae6.50% 8/36 #8880347,256 8,441 
Fannie Mae6.50% 8/36 #88854428,338 33,176 
Fannie Mae5.50% 2/37 #9049188,593 9,880 
Fannie Mae15YR 6.00% 1/24 #99542530,334 31,675 
Fannie Mae15YR 6.50% 2/24 #99565814,806 15,667 
Fannie Mae8.00% 11/37 #9957838,936 10,526 
Fannie Mae3.00% 11/32 #MA12371,841,012 1,958,861 
Fannie Mae3% 07/01/36 #MA26722,437,547 2,582,157 
Fannie Mae4% 4/1/38 #MA33371,104,725 1,190,543 
Fannie Mae10YR 6.50% 12/37 #AD007024,517 28,485 
Fannie Mae6.50% 9/28 #AD032941,465 45,775 
Fannie Mae6.50% 12/35 #AD072332,860 38,369 
Fannie Mae15YR 5.50% 3/24 #AE04679,576 9,931 
Fannie Mae15YR 6.00% 3/24 #AE074514,568 15,088 
Fannie Mae6.50% 8/36 #AE074623,612 27,605 
Federal Home Loan Bank0.375% 09/04/255,000,000 4,997,155 
Federation Caisses Desjardins2.05% 02/10/25 144A1,080,000 1,135,161 
Fifth Third Bank2.6% 6/15/221,870,000 1,927,208 
Fifth Third Bank2.375% 01/28/251,500,000 1,596,034 
First Republic Bank1.912%/VAR 02/12/24414,000 425,994 
FirstEnergy Corp2.05% 03/01/25498,000 495,912 
FirstEnergy Corp1.6% 01/15/2698,000 95,760 
Fiserv Inc3.5% 07/01/294,040,000 4,610,876 
Florida Power & Light2.85% 04/01/25254,000 276,364 
FMC Corporation3.45% 10/1/291,445,000 1,644,221 
25

Table of Contents
Raytheon Savings and Investment Plan
Schedule H Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2020

Identity of Issue, Borrower, Lessor, or Similar Party Description of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueShares/Units/ Principal Current Value
Ford Motor Credit Company2.78% 9/151,507,000 1,533,044 
Ford Motor Credit Company2.95% 05/15800,000 807,925 
Ford Motor Credit Company0.7% 09/15/251,009,000 1,016,142 
Ford Motor Credit Company2.31% 8/27324,000 324,756 
Ford Motor Credit Company1.85% 03/15/23400,000 405,370 
Ford Motor Credit Company3.52% 7/15/30 14885,000 965,199 
Fox Corporation3.05% 04/07/253,200,000 3,500,323 
Fox Corporation3.666% 01/25/22310,000 320,823 
Freddie Mac15YR 5.00% 10/23 #G1327634,890 36,251 
Freddie Mac5.50% 1/24 #G1343244,361 46,154 
Freddie Mac15YR 5.50% 12/21 #G134815,010 5,083 
Freddie Mac15YR 6.00% 1/24 #G1364740,431 42,298 
Freddie Mac15YR 6.00% 1/24 #G1398218,505 18,942 
Freddie Mac15YR 5.50% 12/24 #G14015