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Contract Assets and Liabilities (Narrative) (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Increase in contract assets	$ 2.5
Increase in contract liabilities	3.0
Revenue recognized related to contract liabilities outstanding	$ 8.1	$ 7.2	$ 5.3

Segment Financial Data

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Financial Data

NOTE 20: SEGMENT FINANCIAL DATA

Our operations, for the periods presented herein, are classified into three principal segments: Collins Aerospace (Collins), Pratt & Whitney, and Raytheon. Our 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.

Collins Aerospace is a leading global provider of technologically advanced aerospace and defense products. Collins’ solutions include aftermarket services for civil and military aircraft manufacturers, commercial airlines, and regional, business, and general aviation, as well as for defense and commercial space operations. Aftermarket services include spare parts, overhaul and repair, engineering and technical support, training and fleet management solutions, asset management services, and information management services. Collins designs, manufactures, and supplies electric power generation, management and distribution systems, environmental control systems, flight control systems, air data and aircraft sensing systems, engine control systems, engine components, engine nacelle systems, including thrust reversers and mounting pylons, interior and exterior aircraft lighting, aircraft cargo systems, evacuation systems, landing systems (including landing gear, wheels, and braking systems), communication, navigation, surveillance systems, fire and ice detection and protection systems, integrated avionics, and propeller systems. Collins also designs, manufactures, and supports complete cabin interiors, including seating, oxygen systems, food and beverage preparation, storage and galley systems, lavatory, and wastewater management systems. Collins’ solutions support human space exploration with environmental control and power systems and extravehicular activity suits. Collins also provides connected aviation solutions and services through worldwide voice and data communication networks, airport systems and integrations, and air traffic management solutions. Collins supports government and defense customer missions by providing systems solutions for connected battlespace, test and training range systems, crew escape systems, and simulation and training.

Pratt & Whitney is among the world’s leading suppliers of aircraft engines for commercial, military, business jet, and general aviation customers. Pratt & Whitney designs, manufactures, and services large engines for widebody, narrowbody, and large regional aircraft for commercial customers and for fighter, bomber, tanker, and transport aircraft for military customers. Pratt & Whitney also designs, manufactures, and services small engines powering regional airlines, general and business aviation, and

helicopters. Pratt & Whitney produces, sells, and services military and commercial auxiliary power units. Pratt & Whitney provides fleet management services and aftermarket maintenance, repair, and overhaul services in all of these product segments.

Raytheon is a leading provider of defensive and offensive threat detection, tracking and mitigation capabilities for U.S. and foreign government and commercial customers. Raytheon designs, develops, and provides advanced capabilities in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics, and missile defense across land, air, sea, and space. Raytheon provides air-to-air and air-to-ground sensors, command and control and weapons including the Advanced Medium Range Air-to-Air Missile (AMRAAM), StormBreaker smart weapon, Long Range Stand Off Weapon (LRSO), and the Early Warning Radar. Raytheon also provides advanced naval sensors, command and control and weapons including classified naval radars, the Next Generation Jammer (NGJ), shipboard missiles including the Tomahawk and Standard Missile 6 (SM-6), air-to-air missiles such as the AIM-9X SIDEWINDER missile, and integrated systems such as the SPY-6 radar. In addition, Raytheon provides advanced systems and products that span layered land and integrated air and missile defense, including the Patriot air and missile defense system, the Lower Tier Air and Missile Defense Sensor (LTAMDS), the National Advanced Surface-to-Air Missile System (NASAMS), Javelin, Excalibur, Stinger, and High-Energy Lasers. Raytheon also provides technologically advanced sensors, satellites, and interceptors, including the AN/TPY-2 radar, and Standard Missile 3 (SM-3). Raytheon delivers integrated space solutions including sensors, mission orchestration, satellite control, and software. Raytheon also focuses on the development and early introduction of next-generation technologies and systems, including hypersonics, counter-hypersonics, next-generation radars, sensor experimentation, and electro-optical/infrared (EO/IR) advancements, and aligns products that use shared technologies, including fire control radars, surveillance radars, EO/IR, space-qualified satellite components, and electronics.

Segment Information. RTX’s chief operating decision maker (CODM) is our Chairman and Chief Executive Officer. The CODM uses segment operating profit as a profitability measure to assess actual and forecasted segment performance to make decisions regarding incentive compensation and the allocation of capital and other investments. Total net sales and operating profit (loss) by segment include inter-segment sales which are generally recorded at cost-plus a specified fee or at a negotiated fixed price. These pricing arrangements may result in margins different than what the purchasing segment realizes on the ultimate third-party sales.

We present a FAS/CAS operating adjustment outside of segment results, which represents the difference between the service cost component of our pension and PRB expense under the Financial Accounting Standards (FAS) requirements of U.S. GAAP and our pension and PRB expense under U.S. government Cost Accounting Standards (CAS) primarily related to our Raytheon segment. While the ultimate liability for pension and PRB costs under FAS and CAS is similar, the pattern of cost recognition is different. Over time, we generally expect to recover the related Raytheon pension and PRB liabilities through the pricing of our products and services to the U.S. government. Collins and Pratt & Whitney generally record pension and PRB expense on a FAS basis.

Acquisition accounting adjustments include the amortization of acquired intangible assets related to acquisitions, the amortization of the property, plant, and equipment fair value adjustment acquired through acquisitions, the amortization of customer contractual obligations related to loss-making or below-market contracts acquired, and goodwill impairment, if applicable. These adjustments are not considered part of management’s evaluation of segment results.

Segment information for the years ended December 31 are as follows:


	2025
(dollars in millions)	Net Sales		Research and Development		Other Segment Items (1)		Operating Profit (Loss)		Operating Profit (Loss) Margins
Collins Aerospace	$	30,196	$	(1,301)	$	(23,972)	$	4,923	16.3	%
Pratt & Whitney	32,916		(1,034)		(29,286)		2,596		7.9	%
Raytheon	28,043		(483)		(24,333)		3,227		11.5	%
Total segment	91,155		(2,818)		(77,591)		10,746		11.8	%
Eliminations and other (2)	(2,552)						54
Corporate expenses and other unallocated items	—						(248)
FAS/CAS operating adjustment	—						753
Acquisition accounting adjustments	—						(2,005)
Consolidated	$	88,603					$	9,300	10.5	%

(1) Includes Cost of sales, Selling, General, and Administrative expenses, and Other income (expense), net.

(2) Includes the operating results of certain smaller operations.


	2024
(dollars in millions)	Net Sales		Research and Development		Other Segment Items (1)		Operating Profit (Loss)		Operating Profit (Loss) Margins
Collins Aerospace	$	28,284	$	(1,408)	$	(22,741)	$	4,135		14.6	%
Pratt & Whitney	28,066		(1,086)		(24,965)		2,015			7.2	%
Raytheon	26,713		(452)		(23,667)		2,594			9.7	%
Total segment	83,063		(2,946)		(71,373)		8,744			10.5	%
Eliminations and other (2)	(2,325)						(48)
Corporate expenses and other unallocated items (3)	—						(933)
FAS/CAS operating adjustment	—						833
Acquisition accounting adjustments	—						(2,058)
Consolidated	$	80,738					$	6,538		8.1	%

(1) Includes Cost of sales, Selling, General, and Administrative expenses, and Other income (expense), net.

(2) Includes the operating results of certain smaller operations.

(3) Includes a $0.9 billion charge in the second quarter of 2024 related to the Resolution of Certain Legal Matters. See “Note 1: Basis of Presentation and Summary of Accounting Principles” for additional information.


	2023
(dollars in millions)	Net Sales		Research and Development		Other Segment Items (1)		Operating Profit (Loss)		Operating Profit (Loss) Margins
Collins Aerospace	$	26,253	$	(1,317)	$	(21,111)	$	3,825		14.6	%
Pratt & Whitney (3)	18,296		(1,001)		(18,750)		(1,455)			(8.0)	%
Raytheon	26,350		(500)		(23,471)		2,379			9.0	%
Total segment	70,899		(2,818)		(63,332)		4,749			6.7	%
Eliminations and other (2)	(1,979)						(42)
Corporate expenses and other unallocated items	—						(275)
FAS/CAS operating adjustment	—						1,127
Acquisition accounting adjustments	—						(1,998)
Consolidated	$	68,920					$	3,561		5.2	%

(1) Includes Cost of sales, Selling, General, and Administrative expenses, and Other income (expense), net.

(2) Includes the operating results of certain smaller operations.

(3) Includes the impact of the Powder Metal Matter


	Total Assets				Capital Expenditures						Depreciation & Amortization
(dollars in millions)	2025		2024		2025		2024		2023		2025		2024		2023
Collins Aerospace (1)	$	71,680	$	72,372	$	793	$	786	$	628	$	873	$	841	$	724
Pratt & Whitney (1)	52,482		44,307		994		968		1,025		786		784		736
Raytheon (1)	44,795		44,936		644		771		637		542		520		544
Total segment	168,957		161,615		2,431		2,525		2,290		2,201		2,145		2,004
Corporate, eliminations, and other	2,122		1,246		196		100		125		94		80		126
Acquisition accounting adjustments											2,083		2,139		2,081

Consolidated	$	171,079	$	162,861	$	2,627	$	2,625	$	2,415	$	4,378	$	4,364	$	4,211

(1) Total assets include acquired intangible assets and the property, plant, and equipment fair value adjustment. Related amortization expense is included in Acquisition accounting adjustments.

Geographic External Sales by Origin and Long-Lived Assets. Geographic external sales are attributed to the geographic regions based on their location of origin. U.S. external sales include export sales to commercial customers outside the U.S., as well as sales to the U.S. government, commercial and affiliated customers, which are known to be for resale to customers outside the U.S. Long-lived assets are Fixed assets, net attributed to the specific geographic regions.


	External Net Sales						Long-Lived Assets
(dollars in millions)	2025		2024		2023		2025		2024
United States (1)	$	74,778	$	67,701	$	57,539	$	13,791	$	13,041
International
Europe	5,438		5,493		4,849		1,135		1,189
Asia Pacific	2,864		2,587		2,182		899		834
Middle East and North Africa	348		486		492		101		98
Other regions	5,175		4,471		3,858		942		927
Consolidated	$	88,603	$	80,738	$	68,920	$	16,868	$	16,089

(1) 2023 external net sales includes the reduction in sales from the Powder Metal Matter.

Disaggregation of Revenue. We also disaggregate our contracts from customers by geographic region based on customer location, by type of customer, and by sales type. Our geographic region based on customer location uses end user customer location where known or practical to determine, or in instances where the end user customer is not known or not practical to determine, uses “ship to” location as the customer location. In addition, for our Raytheon segment, we disaggregate our contracts from customers by contract type. We believe these categories best depict how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors.

Segment sales disaggregated by geographic region based on customer location for the years ended December 31 are as follows:


	2025
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
United States	$	14,136	$	13,636	$	19,313	$	206	$	47,291
Europe	6,852		7,669		4,275		3		18,799
Asia Pacific	3,779		7,625		2,377		1		13,782
Middle East and North Africa	1,076		821		1,724		—		3,621
Other regions	1,742		3,165		203		—		5,110

Consolidated net sales	27,585		32,916		27,892		210		88,603
Inter-segment sales	2,611		—		151		(2,762)		—
Business segment sales	$	30,196	$	32,916	$	28,043	$	(2,552)	$	88,603


	2024
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
United States	$	13,668	$	13,025	$	19,224	$	170	$	46,087
Europe	6,634		6,376		2,962		3		15,975
Asia Pacific	3,185		5,461		2,245		2		10,893
Middle East and North Africa	840		650		1,968		—		3,458
Other regions	1,602		2,552		171		—		4,325
Consolidated net sales	25,929		28,064		26,570		175		80,738
Inter-segment sales	2,355		2		143		(2,500)		—
Business segment sales	$	28,284	$	28,066	$	26,713	$	(2,325)	$	80,738


	2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
United States	$	13,185	$	11,403	$	20,187	$	106	$	44,881
Europe	6,423		5,433		1,642		3		13,501
Asia Pacific	2,625		4,227		2,196		1		9,049
Middle East and North Africa	684		539		2,014		—		3,237
Other regions	1,377		2,095		181		—		3,653
Powder Metal Matter	—		(5,401)		—		—		(5,401)
Consolidated net sales	24,294		18,296		26,220		110		68,920
Inter-segment sales	1,959		—		130		(2,089)		—
Business segment sales	$	26,253	$	18,296	$	26,350	$	(1,979)	$	68,920

Segment sales disaggregated by type of customer for the years ended December 31 are as follows:


	2025
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Sales to the U.S. government (1)	$	7,061	$	6,778	$	19,237	$	203	$	33,279
Foreign military sales through the U.S. government	436		1,786		4,480		—		6,702
Foreign government direct commercial sales	1,230		792		4,099		2		6,123
Commercial aerospace and other commercial sales	18,858		23,560		76		5		42,499
Consolidated net sales	27,585		32,916		27,892		210		88,603
Inter-segment sales	2,611		—		151		(2,762)		—
Business segment sales	$	30,196	$	32,916	$	28,043	$	(2,552)	$	88,603

(1) Excludes foreign military sales through the U.S. government.


	2024
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Sales to the U.S. government (1)	$	6,850	$	6,086	$	19,142	$	168	$	32,246
Foreign military sales through the U.S. government	384		1,528		3,853		—		5,765
Foreign government direct commercial sales	1,242		712		3,361		2		5,317
Commercial aerospace and other commercial sales	17,453		19,738		214		5		37,410
Consolidated net sales	25,929		28,064		26,570		175		80,738
Inter-segment sales	2,355		2		143		(2,500)		—
Business segment sales	$	28,284	$	28,066	$	26,713	$	(2,325)	$	80,738

(1) Excludes foreign military sales through the U.S. government.


	2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Sales to the U.S. government (1)	$	6,357	$	5,206	$	19,965	$	100	$	31,628
Foreign military sales through the U.S. government	304		1,442		3,228		—		4,974
Foreign government direct commercial sales	1,110		515		2,620		4		4,249
Commercial aerospace and other commercial sales (2)	16,523		11,133		407		6		28,069
Consolidated net sales	24,294		18,296		26,220		110		68,920
Inter-segment sales	1,959		—		130		(2,089)		—
Business segment sales	$	26,253	$	18,296	$	26,350	$	(1,979)	$	68,920

(1) Excludes foreign military sales through the U.S. government.

(2) Includes the reduction in sales from the Powder Metal Matter.

The largest contributor to our Commercial aerospace and other commercial sales is Airbus. Sales to Airbus primarily relate to Pratt & Whitney and Collins products, and prior to discounts and incentives were approximately 14%, 14%, and 17% of total net sales in 2025, 2024, and 2023, respectively. Total net sales in 2023 includes the reduction in sales from the Powder Metal Matter.

Segment sales disaggregated by sales type for the years ended December 31 are as follows:


	2025
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Products	$	21,467	$	18,467	$	24,063	$	174	$	64,171
Services	6,118		14,449		3,829		36		24,432
Consolidated net sales	27,585		32,916		27,892		210		88,603
Inter-segment sales	2,611		—		151		(2,762)		—
Business segment sales	$	30,196	$	32,916	$	28,043	$	(2,552)	$	88,603


	2024
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Products	$	20,272	$	16,316	$	22,872	$	152	$	59,612
Services	5,657		11,748		3,698		23		21,126
Consolidated net sales	25,929		28,064		26,570		175		80,738
Inter-segment sales	2,355		2		143		(2,500)		—
Business segment sales	$	28,284	$	28,066	$	26,713	$	(2,325)	$	80,738


	2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney (1)		Raytheon		Other		Total
Products	$	19,034	$	8,579	$	21,847	$	111	$	49,571
Services	5,260		9,717		4,373		(1)		19,349
Consolidated net sales	24,294		18,296		26,220		110		68,920
Inter-segment sales	1,959		—		130		(2,089)		—
Business segment sales	$	26,253	$	18,296	$	26,350	$	(1,979)	$	68,920

(1) Includes the reduction in sales from the Powder Metal Matter.

Raytheon segment sales disaggregated by contract type for the years ended December 31 are as follows:


(dollars in millions)	2025		2024		2023
Fixed-price	$	16,647	$	14,515	$	13,164
Cost-type	11,245		12,055		13,056
Consolidated net sales	27,892		26,570		26,220
Inter-segment sales	151		143		130
Business segment sales	$	28,043	$	26,713	$	26,350

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

NOTE 3: GOODWILL AND INTANGIBLE ASSETS

Goodwill. Changes in our goodwill balances for the year ended December 31, 2025 were as follows:


(dollars in millions)	Balance as of December 31, 2024		Acquisitions and Divestitures		Foreign Currency Translation and Other		Balance as of December 31, 2025
Collins Aerospace	$	32,223	$	(255)	$	808	$	32,776
Pratt & Whitney	1,563		—		—		1,563
Raytheon	18,986		—		1		18,987
Total Segments	52,772		(255)		809		53,326
Eliminations and other	17		—		—		17
Total	$	52,789	$	(255)	$	809	$	53,343

The Company reviews goodwill for impairment annually or more frequently if events or changes in circumstances indicate the asset might be impaired.

We completed our annual goodwill impairment testing as of October 1, 2025 and determined that no adjustments to the carrying value of goodwill were necessary. We assessed all of our reporting units using qualitative factors to determine whether it was more likely than not that any individual reporting unit’s fair value is less than its carrying value (step 0) and determined that no further testing was required.

Intangible Assets. Identifiable intangible assets are comprised of the following:


	2025				2024
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:

Collaboration assets	$	6,234	$	(2,374)	$	6,159	$	(1,996)
Exclusivity assets	3,980		(258)		3,692		(361)
Developed technology and other	1,192		(758)		1,197		(698)
Customer relationships	29,338		(13,989)		29,388		(12,401)
	40,744		(17,379)		40,436		(15,456)
Indefinite-lived:
Trademarks and other	8,480		—		8,463		—
Total	$	49,224	$	(17,379)	$	48,899	$	(15,456)

We also completed our annual indefinite-lived intangible assets impairment testing using a qualitative approach as of October 1, 2025 and determined that no adjustments to the carrying value of these assets were necessary.

Amortization of intangible assets was $2.1 billion, $2.2 billion, and $2.1 billion in 2025, 2024, and 2023, respectively. The following is the expected amortization of intangible assets for 2026 through 2030:


(dollars in millions)	2026	2027	2028	2029	2030
Amortization expense	$1,992	$1,896	$1,795	$1,637	$1,628

Segment Financial Data (Total Assets, Capital Expenditures and Depreciation & Amortization) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 171,079	$ 162,861
Capital Expenditures	2,627	2,625	$ 2,415
Depreciation & Amortization	4,378	4,364	4,211
Operating Segments
Segment Reporting Information [Line Items]
Total assets	168,957	161,615
Capital Expenditures	2,431	2,525	2,290
Depreciation & Amortization	2,201	2,145	2,004
Operating Segments \| Collins Aerospace
Segment Reporting Information [Line Items]
Total assets	71,680	72,372
Capital Expenditures	793	786	628
Depreciation & Amortization	873	841	724
Operating Segments \| Pratt & Whitney
Segment Reporting Information [Line Items]
Total assets	52,482	44,307
Capital Expenditures	994	968	1,025
Depreciation & Amortization	786	784	736
Operating Segments \| Raytheon
Segment Reporting Information [Line Items]
Total assets	44,795	44,936
Capital Expenditures	644	771	637
Depreciation & Amortization	542	520	544
Corporate, eliminations, and other
Segment Reporting Information [Line Items]
Total assets	2,122	1,246
Capital Expenditures	196	100	125
Depreciation & Amortization	94	80	126
Segment Reconciling Items \| Acquisition accounting adjustments
Segment Reporting Information [Line Items]
Depreciation & Amortization	$ 2,083	$ 2,139	$ 2,081

Goodwill and Intangible Assets (Amortization Expense) (Details) $ in Millions	Dec. 31, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2026	$ 1,992
2027	1,896
2028	1,795
2029	1,637
2030	$ 1,628

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Dec. 31, 2025	Jun. 30, 2025
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-00812
Entity Registrant Name	RTX Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-0570975
Entity Address, Address Line One	1000 Wilson Boulevard
Entity Address, City or Town	Arlington
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22209
City Area Code	(781)
Local Phone Number	522-3000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float		$ 195,405,729,090
Entity Common Stock, Shares Outstanding	1,342,287,676
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement for its 2026 Annual Meeting of Shareowners are incorporated by reference in Part III of this Form 10-K
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Entity Central Index Key	0000101829
Common Stock ($1 par value)
Document Information [Line Items]
Title of 12(b) Security	Common Stock ($1 par value)
Trading Symbol	RTX
Security Exchange Name	NYSE
2.150% Notes due 2030
Document Information [Line Items]
Title of 12(b) Security	2.150% Notes due 2030
Trading Symbol	RTX 30
Security Exchange Name	NYSE

Income Taxes (Income before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
United States	$ 5,126	$ 3,016	$ 938
Foreign	3,607	3,178	2,898
Income before income taxes	$ 8,733	$ 6,194	$ 3,836

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Supplemental Operating Lease Cash Flow Information

Supplemental cash flow information related to operating leases were as follows:


(dollars in millions)	2025		2024		2023
Operating cash flows used in the measurement of operating lease liabilities	$	466	$	417	$	421
Operating lease right-of-use assets obtained in exchange for operating lease obligations	429		707		373

Schedule of Lease Payments Related to Operating Leases

Future lease payments related to our operating lease liabilities as of December 31, 2025 are as follows:


(dollars in millions)
2026	$	492
2027	419
2028	339
2029	228
2030	197
Thereafter	754
Total undiscounted lease payments	2,429
Less imputed interest	(377)
Total discounted lease payments	$	2,052

Schedule of Lease Liabilities Recognized in the Consolidated Balance Sheet

Our lease liabilities recognized in our Consolidated Balance Sheet were as follows as of December 31:


(dollars in millions)	2025		2024
Operating lease liabilities, current (included in Other accrued liabilities)	$	450	$	367
Operating lease liabilities, non-current	1,602		1,632
Total operating lease liabilities	$	2,052	$	1,999

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 2.1	$ 2.2	$ 2.1

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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+ Details

Employee Benefit Plans (Fair Value of Marketable Securities Held in Trusts) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Retirement Benefits [Abstract]
Marketable securities held in trusts	$ 750	$ 786

Contract Assets and Liabilities (Schedule of Contract Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue recognized in advance of customer billings	$ 35,023	$ 30,226
Progress payments	(17,931)	(15,656)
Contract assets, net	$ 17,092	$ 14,570

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Schedule of Changes in Benefit Obligations


	Pension
(dollars in millions)	2025		2024
Change in Benefit Obligation:
Beginning balance	$	46,322	$	49,592
Service cost	169		189

Interest cost	2,343		2,385
Actuarial loss (gain)	1,253		(2,013)
Total benefits paid (1)	(3,530)		(3,633)
Net settlement, curtailment, and special termination benefits	(2,479)		9
Plan amendments	100		36
Business combinations and divestitures	1		(23)
Other (2)	275		(220)
Ending balance	$	44,454	$	46,322
Change in Plan Assets:
Beginning balance	$	46,414	$	48,945
Actual return on plan assets	4,237		1,092
Employer contributions (1)	210		235
Total benefits paid (1)	(3,530)		(3,633)
Settlements	(2,479)		(3)

Other (2)	262		(222)
Ending balance	$	45,114	$	46,414

(1) Includes benefit payments paid directly by the company.

(2) The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the United Kingdom and Canada, and participant contributions.

Schedule of Changes in Plan Assets


	Pension
(dollars in millions)	2025		2024
Change in Benefit Obligation:
Beginning balance	$	46,322	$	49,592
Service cost	169		189

Interest cost	2,343		2,385
Actuarial loss (gain)	1,253		(2,013)
Total benefits paid (1)	(3,530)		(3,633)
Net settlement, curtailment, and special termination benefits	(2,479)		9
Plan amendments	100		36
Business combinations and divestitures	1		(23)
Other (2)	275		(220)
Ending balance	$	44,454	$	46,322
Change in Plan Assets:
Beginning balance	$	46,414	$	48,945
Actual return on plan assets	4,237		1,092
Employer contributions (1)	210		235
Total benefits paid (1)	(3,530)		(3,633)
Settlements	(2,479)		(3)

Other (2)	262		(222)
Ending balance	$	45,114	$	46,414

(1) Includes benefit payments paid directly by the company.

(2) The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the United Kingdom and Canada, and participant contributions.

Schedule of Net Funded Status


	Pension				PRB
(dollars in millions)	2025		2024		2025		2024





















Funded Status:
Fair value of plan assets	$	45,114	$	46,414	$	330	$	314
Benefit obligations	(44,454)		(46,322)		(890)		(898)
Funded status of plan	$	660	$	92	$	(560)	$	(584)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Non-current assets	$	2,339	$	1,819	$	—	$	—
Current liabilities	(169)		(195)		(59)		(61)
Non-current liabilities	(1,510)		(1,532)		(501)		(523)
Net amount recognized	$	660	$	92	$	(560)	$	(584)
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss (gain)	$	5,431	$	4,926	$	(232)	$	(296)
Prior service credit	(822)		(1,044)		—		(1)
Net amount recognized	$	4,609	$	3,882	$	(232)	$	(297)

Schedule of Amounts Recognized in Balance Sheet


	Pension				PRB
(dollars in millions)	2025		2024		2025		2024





















Funded Status:
Fair value of plan assets	$	45,114	$	46,414	$	330	$	314
Benefit obligations	(44,454)		(46,322)		(890)		(898)
Funded status of plan	$	660	$	92	$	(560)	$	(584)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Non-current assets	$	2,339	$	1,819	$	—	$	—
Current liabilities	(169)		(195)		(59)		(61)
Non-current liabilities	(1,510)		(1,532)		(501)		(523)
Net amount recognized	$	660	$	92	$	(560)	$	(584)
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss (gain)	$	5,431	$	4,926	$	(232)	$	(296)
Prior service credit	(822)		(1,044)		—		(1)
Net amount recognized	$	4,609	$	3,882	$	(232)	$	(297)

Schedule of Amounts in Accumulated Other Comprehensive Loss


	Pension				PRB
(dollars in millions)	2025		2024		2025		2024





















Funded Status:
Fair value of plan assets	$	45,114	$	46,414	$	330	$	314
Benefit obligations	(44,454)		(46,322)		(890)		(898)
Funded status of plan	$	660	$	92	$	(560)	$	(584)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Non-current assets	$	2,339	$	1,819	$	—	$	—
Current liabilities	(169)		(195)		(59)		(61)
Non-current liabilities	(1,510)		(1,532)		(501)		(523)
Net amount recognized	$	660	$	92	$	(560)	$	(584)
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss (gain)	$	5,431	$	4,926	$	(232)	$	(296)
Prior service credit	(822)		(1,044)		—		(1)
Net amount recognized	$	4,609	$	3,882	$	(232)	$	(297)

Schedule of Accumulated Benefit Obligation in Excess of Plan Assets

Information for pension plans with accumulated benefit obligations in excess of plan assets:


(dollars in millions)	2025		2024
Projected benefit obligation	$	3,311	$	3,260
Accumulated benefit obligation	3,284		3,239
Fair value of plan assets	1,634		1,537

Schedule of Projected Benefit Obligation in Excess of Plan Assets

Information for pension plans with projected benefit obligations in excess of plan assets:


(dollars in millions)	2025		2024
Projected benefit obligation	$	3,406	$	3,298
Accumulated benefit obligation	3,368		3,272
Fair value of plan assets	1,726		1,571

Schedule of Net Periodic Pension (Income) Expense

The components of the net periodic pension income are as follows:


(dollars in millions)	2025		2024		2023
Operating expense
Service cost	$	169	$	189	$	222
Non-operating expense
Interest cost	2,343		2,385		2,507
Expected return on plan assets	(3,682)		(3,747)		(3,753)
Amortization of prior service credit	(140)		(170)		(158)

Recognized actuarial net loss (gain)	21		20		(378)
Net settlement, curtailment, and special termination benefits loss	275		13		6
Non-service pension income	(1,183)		(1,499)		(1,776)
Total net periodic pension income	$	(1,014)	$	(1,310)	$	(1,554)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Other changes in pension plan assets and benefit obligations recognized in other comprehensive loss in 2025 and 2024 are as follows:


(dollars in millions)	2025		2024
Net actuarial loss arising during the period	$	698	$	642
Amortization of actuarial loss	(21)		(20)
Current year prior service cost	100		36
Amortization of prior service credit	140		170
Net settlement and curtailment	(275)		(12)

Other (1)	85		1
Total recognized in other comprehensive loss	727		817
Net recognized in net periodic pension income and other comprehensive loss	$	(287)	$	(493)

(1) The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the United Kingdom and Canada.

Schedule of Expected Benefit Payments

The table below reflects the total benefit payments expected to be paid from the pension plans or from corporate assets.


(dollars in millions)	Pension
2026	$	3,906
2027	3,470
2028	3,428
2029	3,427
2030	3,410
2031-2035	16,229

Schedule of Defined Benefit Plan Assumptions

Assumptions used in determining the pension benefit obligation and net periodic pension income are presented in the following table as weighted-averages:


	Pension Benefit Obligation				Net Periodic Pension Income
	2025		2024		2025		2024		2023
Discount rate
PBO	5.3	%	5.6	%	5.6	%	5.1	%	5.5	%
Interest cost (1)	N/A		N/A		5.3	%	5.0	%	5.3	%
Service cost (1)	N/A		N/A		5.6	%	5.0	%	5.4	%
Salary scale	4.4	%	4.4	%	4.4	%	4.4	%	4.4	%
Expected return on plan assets	N/A		N/A		7.1	%	7.1	%	7.1	%
Interest crediting rate	5.0	%	5.0	%	5.0	%	5.0	%	4.4	%

(1) The discount rates used to measure the service cost and interest cost applies to our significant plans. The PBO discount rate is used for the service cost and interest cost measurements for non-significant plans.

Schedule of Plan Assets by Asset Category

The fair values of pension plan assets at December 31, 2025 and 2024 by asset category are as follows:


(dollars in millions)	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling (7)		Total
Asset Category:
Public Equities
Global Equities	$	5,781	$	9	$	—	$	—	$	5,790
Global Equity Commingled Funds (1)	—		650		—		—		650
Other Public Equities	—		—		—		2,531		2,531
Private Equities (2)	—		—		—		4,987		4,987
Fixed Income Securities
Governments	5,078		1,882		—		—		6,960
Corporate Bonds	—		8,846		—		—		8,846
Structured Products	—		14		—		—		14
Other Fixed Income	—		—		—		10,875		10,875
Real Estate (3)	—		—		1,249		1,555		2,804
Other (4)	—		480		—		130		610
Cash & Cash Equivalents (5)	—		162		—		110		272
Subtotal	$	10,859	$	12,043	$	1,249	$	20,188	$	44,339
Other Assets & Liabilities (6)									775
Total at December 31, 2025									$	45,114
Public Equities
Global Equities	$	6,195	$	13	$	—	$	—	$	6,208
Global Equity Commingled Funds (1)	—		624		—		—		624
Other Public Equities	—		—		—		2,431		2,431
Private Equities (2)	—		—		—		4,985		4,985
Fixed Income Securities
Governments	4,462		801		—		—		5,263
Corporate Bonds	1		11,343		—		—		11,344
Structured Products	—		27		—		—		27
Other Fixed Income	—		—		—		11,259		11,259
Real Estate (3)	—		—		1,481		1,557		3,038
Other (4)	—		513		—		113		626
Cash & Cash Equivalents (5)	—		341		—		79		420
Subtotal	$	10,658	$	13,662	$	1,481	$	20,424	$	46,225
Other Assets & Liabilities (6)									189
Total at December 31, 2024									$	46,414

(1) Represents commingled funds that invest primarily in common stocks.

(2) Represents limited partnership investments with general partners that primarily invest in equity and debt.

(3) Represents investments in real estate including commingled funds and directly held properties.

(4) Primarily represents insurance contracts.

(5) Represents short-term commercial paper, bonds, and other cash or cash-like instruments.

(6) Represents receivables, payables, and certain individually immaterial international plan assets that are not leveled.

(7) 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 for the total pension benefits plan assets.

Schedule of Changes in Plan Assets using Significant Unobservable Inputs

The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed due to the following:


(dollars in millions)
Balance, December 31, 2023	$	1,467
Realized losses	(136)
Unrealized gains relating to instruments still held in the reporting period	27
Purchases, sales, and settlements, net	123

Balance, December 31, 2024	1,481

Realized gains	4
Unrealized (losses) relating to instruments still held in the reporting period	(66)
Purchases, sales, and settlements, net	(170)

Balance, December 31, 2025	$	1,249

Schedule of Fair Value of Marketable Securities Held in Trusts

The fair value of marketable securities held in trusts as of December 31 was as follows:


(dollars in millions)	2025		2024
Marketable securities held in trusts	$	750	$	786

Segment Financial Data (Narrative) (Details) - segment	12 Months Ended
Segment Financial Data (Narrative) (Details) - segment	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting [Abstract]
Number of reportable segments	3
Airbus
Revenue, Major Customer [Line Items]
Percentage of net sales	14.00%	14.00%	17.00%

Guarantees (Schedule of Guarantor Obligations) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Commercial Aerospace Financing Arrangements
Guarantee Obligations [Line Items]
Maximum Potential Payment	$ 106	$ 274
Carrying Amount of Liability	0	0
Third Party Guarantees
Guarantee Obligations [Line Items]
Maximum Potential Payment	248	79
Carrying Amount of Liability	$ 0	$ 1

Inventory, Net (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Inventory Disclosure [Abstract]
Raw materials	$ 4,673	$ 4,164
Work-in-process	4,554	4,493
Finished goods	4,137	4,111
Total inventory, net	13,364	12,768
Inventory valuation reserves	$ 2,300	$ 2,100

Stock-Based Compensation (Information about Equity Awards) (Details) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares
Stock Options
Equity Awards Vested and Expected to Vest
Option awards (in shares) \| shares	973
Options, average price (in dollars per share) \| $ / shares	$ 88.04
Options, aggregate intrinsic value \| $	$ 93
Options, remaining term	4 years 10 months 20 days
Equity Awards That Are Exercisable
Options, awards (in shares) \| shares	726
Options, average price (in dollars per shares) \| $ / shares	$ 82.84
Aggregate intrinsic value \| $	$ 73
Options, remaining term	3 years 9 months 21 days
Stock Appreciation Rights
Equity Awards Vested and Expected to Vest
Non-option awards (in shares) \| shares	19,175
Non-option awards, average price (in dollars per share) \| $ / shares	$ 89.53
Non-option awards, aggregate intrinsic value \| $	$ 1,800
non-option awards, remaining term	5 years 2 months 23 days
Equity Awards That Are Exercisable
Non-options, awards (in shares) \| shares	13,098
Non-option awards, average price (in dollars per shares) \| $ / shares	$ 83.07
Aggregate intrinsic value \| $	$ 1,314
Non-option awards, remaining term	3 years 11 months 1 day
Performance Share Units
Equity Awards Vested and Expected to Vest
Non-option awards (in shares) \| shares	2,476
Non-option awards, average price (in dollars per share) \| $ / shares	$ 106.37
Non-option awards, aggregate intrinsic value \| $	$ 454
non-option awards, remaining term	1 year 14 days
Restricted Stock and RSUs
Equity Awards Vested and Expected to Vest
Non-option awards (in shares) \| shares	8,060
Non-option awards, average price (in dollars per share) \| $ / shares	$ 105.28
Non-option awards, aggregate intrinsic value \| $	$ 1,478
non-option awards, remaining term	1 year 5 months 26 days

Accounts Receivable, Net

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Accounts Receivable, Net

NOTE 5: ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consisted of the following:


(dollars in millions)	2025		2024
U.S. government contracts (including foreign military sales)	$	1,775	$	1,132
Other customers	13,266		10,133
Allowance for expected credit losses	(340)		(289)
Total accounts receivable, net	$	14,701	$	10,976

The changes in the allowance for expected credit losses related to accounts receivable were as follows:


(dollars in millions)	2025		2024		2023
Balance as of January 1	$	289	$	316	$	452
Current period provision, net of recoveries	64		(14)		(92)
Write-offs	(12)		(7)		(42)
Other, net	(1)		(6)		(2)
Balance as of December 31	$	340	$	289	$	316

Employee Benefit Plans (Employee Savings Plans) (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Retirement Benefits [Abstract]
Contributions to employer sponsored defined contribution plans	$ 1,400	$ 1,400	$ 1,300
ESOP shares allocated to employees (in shares)		23
Matching contributions made through the ESOP	$ 573	$ 353	$ 261
Matching contributions made through the ESOP (in shares)	4	3

Fixed Assets, Net

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Fixed Assets, Net

NOTE 8: FIXED ASSETS, NET

Fixed assets, net, consisted of the following:


(dollars in millions)	Estimated Useful Lives	2025		2024
Land		$	710	$	695
Buildings and improvements	10-45 years	9,188		8,615
Machinery, tools, and equipment	3-20 years	21,572		19,738
Assets under construction		3,865		3,735
Fixed assets, gross		35,335		32,783
Accumulated depreciation		(18,467)		(16,694)
Fixed assets, net		$	16,868	$	16,089

Leasehold improvements are amortized over the lesser of the remaining lease term or the estimated useful life of the improvement.

Depreciation expense related to Fixed assets, net is recorded predominantly utilizing the straight-line method and was $1.9 billion in 2025 and $1.8 billion in 2024 and 2023.

Acquisitions and Dispositions	12 Months Ended
Acquisitions and Dispositions	Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Acquisitions and Dispositions	NOTE 2: ACQUISITIONS AND DISPOSITIONS Dispositions. On July 21, 2025, we completed the sale of the actuation and flight control business within our Collins segment for gross proceeds of $1.8 billion. Cash received of $1.6 billion, net of cash transferred, included amounts attributable to continuing service agreements supporting the buyer post-closing. The sale resulted in a pre-tax gain of $0.2 billion, which was recorded in Other income (expense), net within the Consolidated Statement of Operations. On October 6, 2025, we completed the sale of the Simmonds Precision Products business within our Collins segment for gross proceeds of approximately $0.8 billion, resulting in an aggregate pre-tax gain of $0.1 billion, recognized in Other income (expense), net within the Consolidated Statement of Operations. On March 29, 2024, we completed the sale of our Cybersecurity, Intelligence and Services (CIS) business within our Raytheon segment for proceeds of approximately $1.3 billion in cash, resulting in an aggregate pre-tax gain, net of transaction and other related costs, of $0.4 billion, primarily recognized in Other income (expense), net within the Consolidated Statement of Operations. On October 31, 2024, we completed the sale of our Goodrich Hoist & Winch business within our Collins segment for proceeds of approximately $0.5 billion in cash, resulting in a pre-tax gain, net of transaction and other related costs, of $0.1 billion, primarily recognized in Other income (expense), net within the Consolidated Statement of Operations.

- Definition

The entire disclosure for business combination.

+ References

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+ Details

Variable Interest Entities

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

NOTE 15: VARIABLE INTEREST ENTITIES

Pratt & Whitney holds a 61% program share interest in the International Aero Engines AG (IAE) collaboration with MTU Aero Engines AG (MTU) and Japanese Aero Engines Corporation (JAEC), and a 49.5% ownership interest in IAE. IAE’s business purpose is to coordinate the design, development, manufacturing, and product support of the V2500 engine program through involvement with the collaborators. Additionally, Pratt & Whitney, JAEC, and MTU are participants in the International Aero Engines, LLC (IAE LLC) collaboration, whose business purpose is to coordinate the design, development, manufacturing, and product support for the PW1100G-JM engine for the Airbus A320neo family of aircraft. Pratt & Whitney holds a 59% program share interest and a 59% ownership interest in IAE LLC. IAE and IAE LLC retain limited equity with the primary economics of the programs passed to the participants. As such, we have determined that IAE and IAE LLC are variable interest entities with Pratt & Whitney as the primary beneficiary. IAE and IAE LLC have, therefore, been consolidated. Other collaborators participate in Pratt & Whitney’s program share interest in IAE and IAE LLC. Pratt & Whitney’s net program share interest in IAE and IAE LLC, after considering its sub-collaborator share, is 57% and 51%, respectively. The carrying amounts and classification of assets and liabilities for variable interest entities in our Consolidated Balance Sheet as of December 31, 2025 and 2024 are as follows:


(dollars in millions)	2025		2024
Current assets	$	14,703	$	10,315
Non-current assets	1,191		1,060
Total assets	$	15,894	$	11,375
Current liabilities	$	16,265	$	13,595
Non-current liabilities	116		140
Total liabilities	$	16,381	$	13,735

Leases (Supplemental Operating Lease Cash Flow Information) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating cash flows used in the measurement of operating lease liabilities	$ 466	$ 417	$ 421
Operating lease right-of-use assets obtained in exchange for operating lease obligations	$ 429	$ 707	$ 373

Stock-Based Compensation (Transactions Under Long-Term Incentive Plans) (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Stock Options
Shares
Outstanding beginning balance (in shares)	1,255
Granted (in shares)	74
Exercised/earned (in shares)	(348)
Cancelled (in shares)	(5)
Outstanding ending balance (in shares)	976	1,255
Average Price
Outstanding beginning balance (in dollars per shares)	$ 83.18
Granted (in dollars per shares)	128.78
Exercised/ earned (in dollars per shares)	78.37
Cancelled (in dollars per shares)	128.78
Outstanding ending balance (in dollars per shares)	$ 88.11	$ 83.18
Stock Appreciation Rights
Shares
Outstanding beginning balance (in shares)	25,746
Granted (in shares)	1,777
Exercised / earned (in shares)	(8,031)
Cancelled (in shares)	(225)
Outstanding ending balance (in shares)	19,267	25,746
Average Price
Outstanding beginning balance (in dollars per shares)	$ 84.13
Granted (in dollars per share)	128.78
Exercised / earned (in dollars per shares)	80.26
Cancelled (in dollars per shares)	102.38
Outstanding ending balance (in dollars per shares)	$ 89.65	$ 84.13
Performance Share Units
Shares
Outstanding beginning balance (in shares)	2,701
Granted (in shares)	830
Exercised / earned (in shares)	(945)
Cancelled (in shares)	(73)
Outstanding ending balance (in shares)	2,513	2,701
Average Price
Outstanding beginning balance (in dollars per shares)	$ 95.26
Granted (in dollars per share)	136.10	$ 93.48	$ 96.39
Granted (in dollars per share)	136.65
Exercised / earned (in dollars per shares)	100.31
Cancelled (in dollars per shares)	111.22
Outstanding ending balance (in dollars per shares)	$ 106.57	$ 95.26
Vested with adjustment for actual performance (in shares)	86
Restricted Stock and RSUs
Shares
Outstanding beginning balance (in shares)	8,903
Granted (in shares)	2,832
Exercised / earned (in shares)	(3,054)
Cancelled (in shares)	(327)
Outstanding ending balance (in shares)	8,354	8,903
Average Price
Outstanding beginning balance (in dollars per shares)	$ 94.32
Granted (in dollars per share)	132.59
Exercised / earned (in dollars per shares)	97.02
Cancelled (in dollars per shares)	111.46
Outstanding ending balance (in dollars per shares)	$ 105.50	$ 94.32

Segment Financial Data (Segment Operating Performance) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net Sales		$ 88,603	$ 80,738	$ 68,920
Research and Development		(2,807)	(2,934)	(2,805)
Operating profit (loss)		$ 9,300	$ 6,538	$ 3,561
Operating Profit (Loss) Margins		10.50%	8.10%	5.20%
Charge related to the resolution of certain legal matters	$ 900
Collins Aerospace
Segment Reporting Information [Line Items]
Net Sales		$ 27,585	$ 25,929	$ 24,294
Pratt & Whitney
Segment Reporting Information [Line Items]
Net Sales		32,916	28,064	18,296
Raytheon
Segment Reporting Information [Line Items]
Net Sales		27,892	26,570	26,220
Operating Segments
Segment Reporting Information [Line Items]
Net Sales		91,155	83,063	70,899
Research and Development		(2,818)	(2,946)	(2,818)
Other Segment Items		(77,591)	(71,373)	(63,332)
Operating profit (loss)		$ 10,746	$ 8,744	$ 4,749
Operating Profit (Loss) Margins		11.80%	10.50%	6.70%
Operating Segments \| Collins Aerospace
Segment Reporting Information [Line Items]
Net Sales		$ 30,196	$ 28,284	$ 26,253
Research and Development		(1,301)	(1,408)	(1,317)
Other Segment Items		(23,972)	(22,741)	(21,111)
Operating profit (loss)		$ 4,923	$ 4,135	$ 3,825
Operating Profit (Loss) Margins		16.30%	14.60%	14.60%
Operating Segments \| Pratt & Whitney
Segment Reporting Information [Line Items]
Net Sales		$ 32,916	$ 28,066	$ 18,296
Research and Development		(1,034)	(1,086)	(1,001)
Other Segment Items		(29,286)	(24,965)	(18,750)
Operating profit (loss)		$ 2,596	$ 2,015	$ (1,455)
Operating Profit (Loss) Margins		7.90%	7.20%	(8.00%)
Operating Segments \| Raytheon
Segment Reporting Information [Line Items]
Net Sales		$ 28,043	$ 26,713	$ 26,350
Research and Development		(483)	(452)	(500)
Other Segment Items		(24,333)	(23,667)	(23,471)
Operating profit (loss)		$ 3,227	$ 2,594	$ 2,379
Operating Profit (Loss) Margins		11.50%	9.70%	9.00%
Eliminations and other
Segment Reporting Information [Line Items]
Net Sales		$ (2,552)	$ (2,325)	$ (1,979)
Operating profit (loss)		54	(48)	(42)
Eliminations and other \| Collins Aerospace
Segment Reporting Information [Line Items]
Net Sales		(2,611)	(2,355)	(1,959)
Eliminations and other \| Pratt & Whitney
Segment Reporting Information [Line Items]
Net Sales		0	(2)	0
Eliminations and other \| Raytheon
Segment Reporting Information [Line Items]
Net Sales		(151)	(143)	(130)
Corporate expenses and other unallocated items
Segment Reporting Information [Line Items]
Operating profit (loss)		(248)	(933)	(275)
Segment Reconciling Items \| FAS/CAS operating adjustment
Segment Reporting Information [Line Items]
Operating profit (loss)		753	833	1,127
Segment Reconciling Items \| Acquisition accounting adjustments
Segment Reporting Information [Line Items]
Operating profit (loss)		$ (2,005)	$ (2,058)	$ (1,998)

Equity (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity beginning balance	$ 61,923	$ 61,410	$ 74,178
Tax benefit (expense)	109	245	288
Equity ending balance	67,102	61,923	61,410
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity beginning balance	(3,755)	(2,419)	(2,018)
Other comprehensive income (loss) before reclassifications, net	822	(1,471)	(201)
Amounts reclassified, pre-tax	106	(110)	(488)
Tax benefit (expense)	109	245	288
Equity ending balance	(2,718)	(3,755)	(2,419)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity beginning balance	(949)	(440)	(1,005)
Other comprehensive income (loss) before reclassifications, net	1,454	(506)	562
Amounts reclassified, pre-tax	(18)	0	0
Tax benefit (expense)	5	(3)	3
Equity ending balance	492	(949)	(440)
Defined Benefit Pension and Postretirement Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity beginning balance	(2,679)	(2,026)	(782)
Other comprehensive income (loss) before reclassifications, net	(910)	(674)	(1,041)
Amounts reclassified, pre-tax	118	(173)	(568)
Tax benefit (expense)	167	194	365
Equity ending balance	(3,304)	(2,679)	(2,026)
Unrealized Hedging (Losses) Gains
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Equity beginning balance	(127)	47	(231)
Other comprehensive income (loss) before reclassifications, net	278	(291)	278
Amounts reclassified, pre-tax	6	63	80
Tax benefit (expense)	(63)	54	(80)
Equity ending balance	$ 94	$ (127)	$ 47

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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Reference 56: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 60
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-Paragraph 1
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Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (f)(3)
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-URI https://asc.fasb.org/1943274/2147481538/470-20-65-4

+ Details

Basis of Presentation and Summary of Accounting Principles (Collaborative Arrangements) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
PW1100 GTF Program
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborator share of sales			$ (2,600)
Cost of sales - products
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborator share of sales	$ 3,819	$ 3,348	(181)
Collaborator share of program costs (reimbursement of expenses incurred):	(272)	(194)	(205)
Cost of sales - services
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborator share of sales	3,446	2,659	2,151
Research and development
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborator share of program costs (reimbursement of expenses incurred):	(182)	(213)	(208)
Selling, general, and administrative
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborator share of program costs (reimbursement of expenses incurred):	$ (121)	$ (110)	$ (114)

Fixed Assets, Net (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Fixed Assets, Net

Fixed assets, net, consisted of the following:


(dollars in millions)	Estimated Useful Lives	2025		2024
Land		$	710	$	695
Buildings and improvements	10-45 years	9,188		8,615
Machinery, tools, and equipment	3-20 years	21,572		19,738
Assets under construction		3,865		3,735
Fixed assets, gross		35,335		32,783
Accumulated depreciation		(18,467)		(16,694)
Fixed assets, net		$	16,868	$	16,089

Contract Assets and Liabilities (Schedule of Contract Assets and Contract Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Contract assets, net	$ 17,092	$ 14,570
Contract liabilities	(21,615)	(18,616)
Net contract liabilities	$ (4,523)	$ (4,046)

Consolidated Balance Sheet - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 7,435	$ 5,578
Accounts receivable, net	14,701	10,976
Contract assets, net	17,092	14,570
Inventory, net	13,364	12,768
Other assets, current	7,740	7,241
Total current assets	60,332	51,133
Customer financing assets	2,132	2,246
Fixed assets, net	16,868	16,089
Operating lease right-of-use assets	1,887	1,864
Goodwill	53,343	52,789
Intangible assets, net	31,845	33,443
Other assets	4,672	5,297
Total assets	171,079	162,861
Current liabilities
Short-term borrowings	204	183
Accounts payable	15,895	12,897
Accrued employee compensation	3,308	2,620
Other accrued liabilities	14,350	14,831
Contract liabilities	21,615	18,616
Long-term debt currently due	3,412	2,352
Total current liabilities	58,784	51,499
Long-term debt	34,288	38,726
Operating lease liabilities, non-current	1,602	1,632
Future pension and postretirement benefit obligations	2,067	2,104
Other long-term liabilities	7,200	6,942
Total liabilities	103,941	100,903
Commitments and contingencies (Note 17)
Redeemable noncontrolling interest	36	35
Capital stock:
Preferred stock, $1 par value; 250,000 shares authorized; None issued or outstanding	0	0
Common stock, $1 par value; 4,000,000 shares authorized; 1,725,312 and 1,718,756 shares issued	38,126	37,434
Treasury stock, 383,025 and 386,633 common shares at average cost	(26,881)	(27,112)
Retained earnings	56,718	53,589
Accumulated other comprehensive loss	(2,718)	(3,755)
Total shareowners’ equity	65,245	60,156
Noncontrolling interest	1,857	1,767
Total equity	67,102	61,923
Total liabilities, redeemable noncontrolling interest, and equity	$ 171,079	$ 162,861

Income Taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Future income tax benefits:
Insurance and employee benefits	$ 865	$ 897
Warranty provisions	226	221
Capitalization of research and experimental expenditures	1,839	2,208
Other basis differences	982	1,060
Powder Metal Matter	226	455
Tax loss and other carryforwards	1,094	1,055
Tax credit carryforwards	963	800
Valuation allowances	(1,431)	(1,439)
Total future income tax benefits	4,764	5,257
Future income taxes payable:
Goodwill and Intangible assets	5,399	5,675
Fixed assets	1,712	1,614
Inventory and contract balances	572	193
Other basis differences	629	627
Total future income tax payable	$ 8,312	$ 8,109

Stock-Based Compensation (Valuation Assumptions) (Details)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Expected volatility	25.90%	24.70%	26.20%
Weighted-average volatility	26.00%	25.00%	26.00%
Expected term (in years)	7 years	6 years 10 months 24 days	6 years 8 months 12 days
Expected dividend yield	2.00%	2.60%	2.30%
Risk-free rate, minimum	4.10%	4.10%	3.60%
Risk-free rate, maximum	4.40%	5.40%	4.80%

Variable Interest Entities (Carrying Amounts of Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Variable Interest Entity [Line Items]
Current assets	$ 60,332	$ 51,133
Total assets	171,079	162,861
Current liabilities	58,784	51,499
Total liabilities	103,941	100,903
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Current assets	14,703	10,315
Non-current assets	1,191	1,060
Total assets	15,894	11,375
Current liabilities	16,265	13,595
Non-current liabilities	116	140
Total liabilities	$ 16,381	$ 13,735

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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Amount of asset recognized for present right to economic benefit, classified as current.

+ References

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+ Details

- Definition

Amount of obligation due after one year or beyond the normal operating cycle, if longer.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Basis of Presentation and Summary of Accounting Principles (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Consolidation and Classification

Consolidation and Classification. The Consolidated Financial Statements include the accounts of RTX Corporation, and all wholly owned, majority-owned, and otherwise controlled domestic and foreign subsidiaries. All intercompany transactions have been eliminated. For our consolidated non-wholly owned subsidiaries, a noncontrolling interest is recognized to reflect the portion of income and equity that is not attributable to us. For classification of certain current assets and liabilities, the duration of our contracts or programs is utilized to define our operating cycle, which is generally longer than one year. Included within our current assets and liabilities are Contract assets and Contract liabilities related to our development and aftermarket arrangements, which can generally span up to twenty years.

Use of Estimates

Use of Estimates. Our Consolidated Financial Statements are based on the application of U.S. Generally Accepted Accounting Principles (GAAP), which require us to make estimates and assumptions about future events that affect the amounts reported in our Consolidated Financial Statements and the accompanying notes. Actual results could differ from those estimates, and any such differences may be material to our Consolidated Financial Statements. Estimates and assumptions are reviewed periodically and the effects of changes, if any, are reflected in our Consolidated Financial Statements in the period they are determined.

Cash and Cash Equivalents

Cash and Cash Equivalents. Cash and cash equivalents includes cash on hand, demand deposits, and short-term cash investments that are highly liquid in nature and have original maturities of three months or less. The estimated fair value of Cash and cash equivalents approximates the carrying value due to their short maturities.

Accounts Receivable

Accounts Receivable. Accounts receivable are stated at the net amount expected to be collected. Accounts receivable related to the commercial aerospace industry was approximately 79% of Accounts receivable, net at December 31, 2025 and 2024. We are exposed to credit losses primarily on our accounts receivable and contract assets related to our sales of products and services to commercial customers. The allowance for expected credit losses is established to provide for the expected lifetime credit

losses by evaluating factors such as customer creditworthiness, historical payment and loss experiences, current economic conditions, including geographic and political risk, and the age and status of outstanding receivables. In certain circumstances, we may be able to develop reasonable and supportable forecasts over the contractual term of the financial asset. For periods beyond which we are able to make or obtain reasonable and supportable forecasts, we revert to historical loss experience and information.

We determine credit ratings for each customer in our portfolio based upon public information and information obtained directly from our customers. We conduct a review of customer credit ratings, published historical credit default rates for different rating categories, and multiple third-party aircraft value publications as a basis to validate the reasonableness of the allowance for expected credit losses on a quarterly basis, or when events and circumstances warrant. A credit limit is established for each customer based on the outcome of this review and consideration of the other factors discussed above. In certain cases, we may require collateral or prepayment to mitigate credit risk.

Expected credit losses are written off in the period in which the financial asset is no longer collectible.

Unbilled receivables represent revenues that are not currently billable to the customer under the terms of the contract and include unbilled amounts under commercial contracts where payment is solely subject to the passage of time. These items are expected to be billed and collected in the normal course of business. Accounts receivable, net as of December 31, 2025 and 2024 includes unbilled receivables of $411 million and $374 million, respectively, which primarily includes unbilled receivables with commercial aerospace customers. Other unbilled receivables where payment is subject to factors beyond just the passage of time are included in Contract assets, net in the Consolidated Balance Sheet.

Contract Assets and Liabilities

Contract Assets and Liabilities. Contract assets and liabilities represent the difference in the timing of revenue recognition from receipt of cash from our customers. Contract assets reflect revenue recognized and performance obligations satisfied or partially satisfied in advance of customer billing.

Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. We receive payments from customers based on the terms established in our contracts.

Contract assets and contract liabilities are generally classified as current as our operating cycle is generally longer than one year. See “Note 6: Contract Assets and Liabilities” for further discussion of contract assets and liabilities.

As described in more detail above in “Accounts Receivable,” we are exposed to credit losses on our Contract assets related to our sales of products and services to commercial customers and regularly assess our allowance for expected credit losses as it relates to our contract assets.

Inventory

Inventory. Inventory is stated at the lower of cost or estimated realizable value and is primarily based on first-in, first-out (FIFO) or average cost methods.

Valuation reserves for excess, obsolete, and slow-moving inventory are estimated by comparing the inventory levels of individual parts to both future sales forecasts or production requirements and historical usage rates in order to identify inventory where the resale value or replacement value is less than inventoriable cost. Other factors that management considers in determining the adequacy of these reserves include whether individual inventory parts meet current specifications and can be substituted for a part currently being sold or used as a service part, overall market conditions, and other inventory management initiatives. Manufacturing costs are allocated to current production contracts.

Investments

Investments. Investments in entities we do not control are presented in Other assets in our Consolidated Balance Sheet. For investments in which we have significant influence, we apply the equity method of accounting. Under this method, we record our proportionate share of the investee’s net earnings or losses. If we determine that a decline in the value of an equity‑method investment is other than temporary, we recognize an impairment loss in current‑period earnings. Transactions with equity‑method investees, which are considered related parties, were not material for the periods presented.

We also make strategic investments in companies that we believe are advancing or developing new technologies applicable to our business. These investments are primarily in early‑stage entities and may be in the form of convertible debt or equity investments. Most of these investments are in equity securities without readily determinable fair values. These securities are measured at cost with adjustments recorded for observable price changes under the measurement alternative. We evaluate these investments for indicators of impairment each reporting period.

Income and losses from these investments are included in Other income (expense), net in our Consolidated Statement of Operations, as the activities of the investees are closely aligned with our operations.

Customer Financing Assets

Customer Financing Assets. Customer financing assets (CFA) relate to our commercial aerospace businesses in which we provide financing to airline customers. Our financing predominantly relates to leased engines, often provided through the customers’ aftermarket maintenance coverage, and to a lesser extent, notes and lease receivables. In certain limited

circumstances, we pay deposits on behalf of our airline customers to secure production slots with the airframers, and such pre-delivery payments are included in Accounts receivable, net, if current, and Customer financing assets, if non-current, in our Consolidated Balance Sheet. Any unfunded pre-delivery payments are included within our commercial aerospace financing commitments as further discussed in “Note 17: Commitments and Contingencies.” Interest income from notes and financing leases and rental income from operating lease assets is generally included in Other income (expense), net in the Consolidated Statement of Operations, while gains or losses on sales of operating lease assets are included in Products sales and Cost of sales. The current portion of these financing arrangements are aggregated in Accounts receivable, net and the non-current portion of these financing arrangements are aggregated in Customer financing assets in the Consolidated Balance Sheet. The increases and decreases in CFA from funding, receipts, and certain other activity, are generally reflected as Investing Activities in the Consolidated Statement of Cash Flows. Leased assets are valued at cost and reviewed for impairment when circumstances indicate that the related carrying amounts may not be recoverable. Notes and lease receivables are valued at the net amount expected to be collected. For notes and lease receivables, we determine a specific reserve for exposure based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral in connection with the evaluation of credit risk and collectability.

Fixed Assets, Net

Fixed Assets, Net. Fixed assets, net, are stated at cost less accumulated depreciation. Major improvements are capitalized while expenditures for maintenance, repairs, and minor improvements are expensed. For asset sales or retirements, the assets and related accumulated depreciation and amortization are eliminated from the accounts. Gains and losses on sales of our Fixed assets, net, are generally recorded in Other income (expense), net.

Business Combinations

Business Combinations. Once a business is acquired, the fair value of the identifiable assets acquired and liabilities assumed is determined with the excess cost recorded to goodwill. A preliminary fair value is determined once a business is acquired, with the final determination of the fair value being completed no later than one year from the date of acquisition.

Goodwill and Intangible Assets

Goodwill and Intangible Assets. Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. Goodwill and intangible assets deemed to have indefinite lives are not amortized, but are subject to impairment testing annually, or more frequently if events or changes in circumstances indicate the asset might be impaired. The goodwill impairment test compares carrying values of the reporting units to their estimated fair values. If the carrying value exceeds the fair value then the carrying value is reduced to fair value. In evaluating our reporting units and indefinite-lived intangible assets for impairment, we may perform both qualitative and quantitative assessments. For the quantitative assessments that are performed, fair value is primarily based on market-based valuation methods, income-based methods using a discounted cash flow model, relief from royalty methods, or a combination of each. These assessments utilize significant assumptions including sales growth rates, projected operating profit, terminal growth rates, discount rates, royalty rates, and comparable multiples from publicly-traded companies in our industry. Such assumptions are subject to variability from year to year and are directly impacted by, among other things, global market conditions. Finite-lived intangible assets are tested for impairment when events occur that indicate that the net book value will not be recovered over future cash flows.

Intangible assets consist of patents, trademarks/tradenames, customer relationships, exclusivity assets, developed technology, and other intangible assets, including collaboration assets. Acquired intangible assets are recognized at fair value in purchase accounting. Finite-lived intangible assets are amortized primarily to Cost of sales over the applicable useful lives. Exclusivity assets are commercial aerospace payments made to secure certain contractual rights to provide product on new aircraft platforms. We classify amortization of such payments as a reduction of sales. Such payments are capitalized when there are distinct rights obtained and there are sufficient incremental cash flows to support the recoverability of the assets established. Otherwise, the applicable portion of the payments are expensed. In addition, in connection with our 2012 agreement to acquire Rolls-Royce’s ownership and collaboration interests in International Aero Engines AG (IAE), additional payments are due to Rolls-Royce contingent upon each hour flown through June 2027 by the V2500-powered aircraft in service as of the acquisition date. These flight hour payments are being capitalized as collaboration assets and amortized to Cost of sales.

Useful lives of finite-lived intangible assets are estimated based upon the nature of the intangible asset and how the intangible asset is used. These intangible assets are amortized based on the pattern in which the economic benefits of the intangible assets are consumed, as represented by the underlying cash flows, which may result in an amortization method other than straight-line. For both our commercial aerospace collaboration assets and exclusivity arrangements, the pattern of economic benefit generally results in no amortization during the development period with amortization beginning as programs enter full rate production and aftermarket cycles. If a pattern of economic benefit cannot be reliably determined or if straight-line amortization approximates the pattern of economic benefit, a straight-line amortization method may be used. The range of estimated useful lives is as follows:


			Years
Collaboration assets			9 to 30
Customer relationships and related programs			3 to 25
Developed technology			3 to 25
Patents and trademarks			5 to 30
Exclusivity assets			5 to 25

Leases

Leases. As a lessee, we record a right-of-use asset and a lease liability on the Consolidated Balance Sheet for leases with terms longer than 12 months. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the Consolidated Statement of Operations.

We enter into lease agreements for the use of real estate space, vehicles, IT equipment, and certain other equipment, including engines, under both operating and finance leases. We determine if an arrangement contains a lease at inception. Operating leases are included in Operating lease right-of-use assets and Operating lease liabilities, non-current on our Consolidated Balance Sheet. The current portion of our operating lease liabilities is included in Other accrued liabilities on our Consolidated Balance Sheet. Finance leases are not considered significant to our Consolidated Balance Sheet or Consolidated Statement of Operations.

Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments, and use the implicit rate when readily determinable. We determine our incremental borrowing rate through market sources including relevant industry rates. Our lease right-of-use assets also include any initial direct costs and lease pre-payments made at or before the commencement date and are reduced for any lease incentives received at or before the commencement date. Certain of our leases include variable payments, which may vary based upon changes in facts or circumstances after the start of the lease. We exclude variable payments from lease right-of-use assets and lease liabilities, to the extent such payments are not considered fixed, and instead, expense variable payments as incurred. Variable lease expense and lease expense for short duration contracts are not a material component of lease expense. Some of our leases include the option to extend or terminate the lease. We include these options in the recognition of our right-of-use assets and lease liabilities when it is reasonably certain that we will exercise the option. Lease expense is generally recognized on a straight-line basis over the lease term.

We act as a lessor, primarily for commercial aerospace engines for a short term during maintenance events. The majority of these leases are classified as operating leases.

Other Long-Lived Assets

Other Long-Lived Assets. We evaluate the potential impairment of other long-lived assets whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. If the carrying value of other long-lived assets held and used exceeds the sum of the undiscounted expected future cash flows, the carrying value is written down to fair value. In order for long-lived assets to be considered held for disposal, we must have committed to a plan to dispose of the assets. Once deemed held for disposal, the assets are stated at the lower of the carrying amount or fair value.

Income Taxes

Income Taxes. Future income taxes represent the tax effects of transactions which are reported in different periods for tax and financial reporting purposes. These amounts consist of the tax effects of temporary differences between the tax and financial reporting balance sheets and tax carryforwards. Future income tax benefits and payables within the same tax-paying component of a particular jurisdiction are offset for presentation in the Consolidated Balance Sheet. In the ordinary course of business there is inherent uncertainty in quantifying our income tax positions. We assess our income tax positions and record tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting date. For those tax positions where it is more-likely-than-not that a tax benefit will be sustained, we have recorded

the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained, no tax benefit has been recognized in the financial statements. Where applicable, associated interest expense has also been recognized. We recognize accrued interest related to unrecognized tax benefits in interest expense. Penalties, if incurred, would be recognized as a component of income tax expense. State income tax amounts are included in income tax expense.

We have elected to account for tax on Global Intangible Low-Taxed Income (GILTI) as a period cost, as incurred.

Revenue Recognition

Revenue Recognition. A majority of our revenues are from long-term contracts associated with the design, development, manufacture, or modification of complex aerospace or defense equipment or related services. Collins and Pratt & Whitney primarily serve commercial and government customers in both the original equipment manufacturer (OEM) and aftermarket parts and services markets of the aerospace industry, while Raytheon primarily provides products and services to government customers in the defense industry.

We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. For certain contracts that meet the foregoing requirements, primarily contracts that are directly with a foreign government, we are required to obtain certain regulatory approvals. In these cases, we recognize revenue when obtaining regulatory approvals is considered probable based on all known facts and circumstances. A performance obligation is a promise in a contract with a customer to transfer a distinct good or service to the customer. Some of our contracts with customers contain a single performance obligation, while others contain multiple performance obligations, most commonly when a contract contains multiple distinct units (such as engines or certain aerospace components), or spans multiple phases of the product life-cycle such as production, maintenance, and support. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when or as the performance obligation is satisfied. When there are multiple performance obligations within a contract, we allocate the transaction price to each performance obligation based on its standalone selling price when available. If standalone selling price is not available, we estimate the standalone selling price of each performance obligation, which is generally based on an expected cost-plus-a-margin approach.

We consider the contractual consideration payable by the customer and assess variable consideration that may affect the total transaction price, including contractual discounts, contract incentive payments, estimates of award fees, flight hours, aircraft landings or other customer usage activities on long-term maintenance contracts, and other sources of variable consideration, when determining the transaction price of each contract. We account for consideration payable to a customer as a reduction of revenue. Consideration payable to a customer may include cash amounts we are obligated to pay or expect to pay a customer, as well as credits or other items that can be applied against amounts owed to us. In our Collins and Pratt & Whitney businesses, we may offer customer incentives to purchase our products, which may result in payments made to those customers.

When reasonably able to estimate, we include variable consideration in the transaction price at the most likely amount to which we expect to be entitled. We include estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. These estimates are based on historical experience, anticipated performance, and our best judgment at the time. We also consider whether our contracts contain a significant financing component, which they generally do not.

Timing of the satisfaction of performance obligations varies across our businesses due to our diverse product and service mix, customer base, and contractual terms.

Performance obligations are satisfied as of a point-in-time for certain aerospace components, engines, and spare parts. Revenue is recognized when control of the product transfers to the customer, generally upon product shipment. Since billing also typically occurs upon product shipment, we generally do not have Contract assets or Contract liabilities balances related to point-in-time sales.

Performance obligations are satisfied over time if the customer receives the benefits as we perform work, if the customer controls the asset as it is being produced (continuous transfer of control), or if the product being produced for the customer has no alternative use and we have a contractual right to payment for performance to date. We recognize revenue on an over-time basis for substantially all defense contracts and certain long-term aerospace OEM and aftermarket contracts.

Substantially all of our defense business revenue, which primarily relates to our Raytheon segment, and to a lesser extent Pratt & Whitney and Collins, is recognized over time because of the continuous transfer of control to our customers. For performance obligations satisfied over time, revenue is recognized on a percentage-of-completion basis generally using costs incurred to date relative to total estimated costs at completion to measure progress. Incurred costs represent work performed, which correspond with and best depict transfer of control to the customer. Contract costs can include labor, materials, subcontractors’ costs, or other direct costs and indirect costs. Our contracts with the U.S. government are typically subject to

the Federal Acquisition Regulation (FAR) and are priced based on estimated or actual costs of producing goods or providing services. The FAR provides guidance on the types of costs that are allowable in establishing prices for goods and services provided under U.S. government contracts. The pricing for non-U.S. government contracts is based on the specific negotiations with each customer. Under the typical payment terms of our U.S. government fixed-price contracts, the customer pays us either performance-based payments (PBPs) or progress payments. PBPs are interim payments equal to a negotiated percentage of the contract price based on quantifiable measures of performance or on the achievement of specified events or milestones. Progress payments are interim payments up to 80-90% of costs incurred as the work progresses. Because the customer retains a portion of the contract price until completion of the contract, our U.S. government fixed-price contracts generally result in revenue recognized in excess of billings which we present as Contract assets on the Consolidated Balance Sheet. For our U.S. government cost-type contracts, the customer generally pays us for our costs incurred within a short period of time. For non-U.S. government contracts, we typically receive interim payments as work progresses, although for some contracts, we may be entitled to receive an advance payment. Such advances are not considered a significant financing component because they are used to meet working capital demands that can be higher in the early stages of a contract and to protect us from the other party failing to adequately complete some or all of its obligations under the contract. We recognize a liability for advance payments in excess of revenue recognized and present it as Contract liabilities on the Consolidated Balance Sheet.

For certain of our long-term aftermarket contracts, revenue is recognized over the contract period. We generally account for such contracts as a series of daily performance obligations to stand ready to provide spare parts, product maintenance, and aftermarket services. These arrangements include the sale of spare parts with integral services to our customers, and are generally classified as Services sales, with the corresponding costs classified in Cost of sales - services, within the Consolidated Statement of Operations. Revenue is primarily recognized on a percentage-of-completion basis using costs incurred to date relative to total estimated costs at completion to measure progress, as sufficient historical evidence indicates that the cost of performing services under the contract is incurred on an other-than-straight-line basis. For some of our long-term aftermarket contracts, we receive payment prior to delivery of products and services, resulting in a contract liability balance, while for others, we deliver products or services in advance of payment, resulting in a contract asset balance.

Contracts are often modified to account for changes in contract specifications or requirements. We consider contract modifications to exist when the modification either creates new or changes existing enforceable rights and obligations. Contract modifications for goods or services that are not distinct are accounted for as part of the existing contract either on a cumulative catch-up basis or prospective basis depending on the nature of the modification.

Loss provisions on contracts are recognized to the extent that estimated contract costs exceed the estimated consideration from the products or services contemplated under the contractual arrangement. For new commitments, we generally record loss provisions at contract signing except for certain contracts under which losses are recorded upon receipt of the purchase order that obligates us to perform. For existing commitments, anticipated losses on contractual arrangements are recognized in the period in which losses become evident. In estimating losses, products contemplated under contractual arrangements include firm quantities of product sold under contract and, in the commercial engine and wheels and brakes businesses, future highly-probable sales of replacement parts required by regulation that are expected to be sold subsequently for incorporation into the original equipment. In our commercial engine and wheels and brakes businesses, when the OEM product is sold for a loss, but the combined OEM and aftermarket arrangement for each individual sales campaign is profitable, we record OEM product losses at the time of product delivery.

We review our Estimates at Completion (EACs) at least annually or when a change in circumstances warrants a modification to a previous estimate. For significant contracts, we review our EACs more frequently. Due to the nature of the work required to be performed on many of the Company’s performance obligations, the estimation of total revenue and cost at completion is complex, subject to many inputs, and requires significant judgment by management on a contract by contract basis. As part of this process, management reviews information including, but not limited to, any outstanding key contract matters, progress towards completion and the related program schedule, identified risks and opportunities, and the related changes in estimates of revenues and costs. The risks and opportunities relate to management’s judgment about the ability and cost to achieve the schedule, consideration of customer-directed delays or reductions in scheduled deliveries, technical requirements, customer activity levels, such as flight hours or aircraft landings, and related variable consideration. Management must make assumptions and estimates regarding contract revenues and costs, including estimates of labor productivity and availability, the complexity and scope of the work to be performed, the availability and cost of materials including any impact from changing costs or inflation, the length of time to complete the performance obligation, execution by our subcontractors, the availability and timing of funding from our customer, overhead cost rates, and current and past maintenance cost and frequency driven by estimated aircraft and engine utilization and estimated useful lives of components, among others. In particular, fixed-price development programs involve significant management judgment, as development contracts by nature have elements that have not been done before and thus, are highly subject to future unexpected cost changes. Cost estimates may also include the estimated cost of satisfying our industrial cooperation agreements, sometimes in the form of either offset obligations or in-country industrial

participation (ICIP) agreements, required under certain contracts. These obligations may or may not be distinct depending on their nature. If cash is paid to a customer to satisfy our offset obligations, it is recorded as a reduction in the transaction price.

Changes in estimates of net sales, cost of sales, and the related impact to operating profit on contracts recognized over time are recognized on a cumulative catch-up basis, which recognizes the cumulative effect of the profit changes on current and prior periods based on a performance obligation’s percentage-of-completion in the current period. A significant change in one or more of these estimates could affect the profitability of one or more of our performance obligations. Our EAC adjustments also include the establishment of, and changes to, loss provisions for our contracts accounted for on a percentage-of-completion basis.

In addition to the amounts included in the table above, during the fourth quarter of 2024, as a result of obtaining critical licenses and further regulatory approvals, we restarted work under certain contracts with a Middle East customer and began recognizing revenue on these contracts. As a result, Raytheon recognized a net operating profit benefit of $0.1 billion primarily related to reserve and contract loss provision adjustments. In addition to the amounts included in the table above, during the second quarter of 2024, Raytheon initiated the termination of a fixed price development contract with a foreign customer, herein referred to as “Raytheon Contract Termination,” and recognized a $0.6 billion charge related to the impact of the termination. The charge included the write-off of remaining contract assets and the estimated settlement with the customer. The contract termination was completed and customer settlement occurred during the fourth quarter of 2024, in line with previously accrued amounts.

In our Collins and Pratt & Whitney businesses, we incur contract fulfillment costs for engineering and development of aerospace products directly related to existing or anticipated contracts with customers. Such costs generate or enhance our ability to satisfy our performance obligations under these contracts. We capitalize these costs as contract fulfillment costs to the extent the costs are recoverable from the associated contract margin and customer funding, and subsequently amortize the costs to Cost of sales as the related performance obligations are satisfied. In instances where intellectual property does not transfer to the customer, we generally defer the customer funding of product engineering and development and recognize revenue when the related performance obligations are satisfied. Capitalized contract fulfillment costs were $2.7 billion and $2.5 billion as of December 31, 2025 and 2024, respectively, and are classified in Other assets, current in our Consolidated Balance Sheet and are included in Other current assets in our Consolidated Statement of Cash Flows. We regularly assess capitalized contract fulfillment costs for impairment. In 2024, we recognized impairment charges at Collins of approximately $0.2 billion due to a contract cancellation and $0.1 billion as a result of the impact of initiating alternative titanium sources. See “Russia Sanctions” above for further information regarding initiating alternative titanium sources.

In view of the risks and costs associated with developing new engines and the large up-front investments required that often require returns generated over the full estimated life of the engine, Pratt & Whitney has entered into certain collaboration arrangements in which sales, costs, and risks are shared. Sales generated from engine programs, spare parts sales, and aftermarket business under these collaboration arrangements are recorded consistent with our revenue recognition policies in our Consolidated Financial Statements. Amounts attributable to our collaborators for their share of sales are recorded as cost of sales in our Consolidated Financial Statements based upon the terms and nature of the arrangement. Costs associated with engine programs under collaborative arrangements are expensed as incurred. Under these arrangements, collaborators contribute their program share of engine parts, incur their own production costs, and make certain payments for shared or joint program costs. The reimbursement from collaborators of their share of program costs is recorded as a reduction of the related expense item at that time. As of December 31, 2025, the collaborators’ interests in all commercial engine programs ranged from 13% to 49%, inclusive of a portion of Pratt & Whitney’s interests held by other participants. Pratt & Whitney is the principal participant in all existing collaborative arrangements, with the exception of the Engine Alliance (EA), a joint venture with GE Aviation, which provides aftermarket support, spare parts, and service for the GP7000 engine for the Airbus A380 aircraft. There are no individually significant collaborative arrangements, and none of the collaborators individually have more than a 25% share in an individual program where Pratt & Whitney is the principal participant.

Remaining Performance Obligations (RPO)

Remaining Performance Obligations (RPO). RPO represents the aggregate amount of total contract transaction price that is unsatisfied or partially unsatisfied. Total RPO was $268 billion as of December 31, 2025. Of the total RPO as of December 31, 2025, we expect approximately 25% will be recognized as revenue over the next 12 months. Approximately 50% of our RPO relates to long-term commercial aerospace maintenance contracts at Pratt & Whitney, which are generally expected to be realized over a span of up to 20 years.

Research and Development

Research and Development. Company-sponsored research and development costs, including those costs related to the Company’s portion in connection with cost-sharing arrangements, are charged to expense as incurred and recovery on these cost-sharing arrangements is recorded as a reduction to research and development expense as earned. Customer-sponsored research and development projects performed under contracts with customers are accounted for as contract costs and reported as cost of sales on the related revenue-generating contracts.

Foreign Exchange

Foreign Exchange. We conduct business in many different currencies and, accordingly, are subject to the inherent risks associated with foreign exchange rate movements. The financial position and results of operations of many of our foreign subsidiaries are often measured using the local currency as the functional currency. Foreign currency denominated assets and liabilities are translated into U.S. Dollars at the exchange rates existing at the respective balance sheet dates, and income and expense items are translated at the average exchange rates during the respective periods. The aggregate effects of translating the balance sheets of these subsidiaries are deferred as a separate component of Accumulated other comprehensive loss in Shareowners’ equity on our Consolidated Balance Sheet. Foreign exchange transaction gains and losses are recorded in Other income (expense), net in our Consolidated Statement of Operations.

Derivatives and Hedging Activity

Derivatives and Hedging Activity. We use derivative instruments, including swaps, forward contracts, and options, to help manage certain foreign currency, and from time to time to help manage interest rate and commodity price exposures. Derivative instruments are viewed as risk management tools by us and are not used for trading or speculative purposes. By their nature, all financial instruments involve market and credit risks. We enter into derivative and other financial instruments with major investment grade financial institutions and have policies to monitor the credit risk of those counterparties. We limit counterparty exposure and concentration of risk by diversifying counterparties. While there can be no assurance, we do not anticipate any material non-performance by any of these counterparties. We enter into transactions that are subject to enforceable master netting arrangements or similar agreements with various counterparties. While we have rights to offset multiple contracts with a single counterparty in an event of default, those obligations remain separate and distinct otherwise, and, as a result, the fair value of the derivative instruments in a loss position is not offset against the fair value of derivative instruments in a gain position in our financial statements.

Derivatives used for hedging purposes may be designated and effective as a hedge of the identified risk exposure at the inception of the contract. All derivative instruments are recorded on the balance sheet at fair value. Derivatives used to hedge foreign currency denominated balance sheet items are reported directly in earnings along with offsetting transaction gains and losses on the items being hedged. Derivatives are also used to hedge foreign currency translation risk arising from the net investment in certain foreign operations. Derivatives used to hedge forecasted cash flows associated with foreign currency commitments or forecasted commodity purchases may be accounted for as cash flow hedges, as deemed appropriate. Changes in the fair value of derivatives that are designated and qualify as a hedge of the net investment in foreign operations, to the extent they are included in the assessment of effectiveness, are recorded in Foreign currency translation adjustments within Other comprehensive income (loss) (OCI) and are deferred until disposal of the underlying investment. Gains and losses representing components excluded from the assessment of effectiveness for net investment hedges are recognized on a straight-line basis in Other income (expense), net over the term of the hedges. To the extent that a previously-designated hedging

transaction for cash flow hedges or net investment hedges are no longer an effective hedge, any ineffectiveness measured in the hedging relationship is recorded currently in earnings in the period it occurs.

Environmental

Environmental. Environmental investigatory, remediation, operating, and maintenance costs are accrued when it is probable that a liability has been incurred and the amount can be reasonably estimated. The most likely cost to be incurred is accrued based on an evaluation of currently-available facts with respect to each individual site, including existing technology, current laws and regulations, and prior remediation experience. Where no amount within a range of estimates is more likely, the minimum is accrued. For sites with multiple responsible parties, we consider our likely proportionate share of the anticipated remediation costs and the ability of the other parties to fulfill their obligations in establishing a provision for those costs. Liabilities with fixed or reliably determinable future cash payments are discounted. A portion of these costs is eligible for future recovery through the pricing of our products and services to the U.S. government. We regularly assess the probability of recovery of these costs, which requires us to make assumptions about the extent of cost recovery under our contracts and the amount of future contract activity with the U.S. government. We consider such recovery probable based on government contracting regulations and our history of receiving reimbursement for such costs, and accordingly have recorded the future recovery of these costs from the U.S. government within Other assets, current in the Consolidated Balance Sheet. Accrued environmental liabilities are not reduced by potential insurance reimbursements or potential recoveries from pursuing other parties. We also lease certain government-owned properties and generally are not liable for remediation of preexisting environmental contamination at these sites. As a result, we generally do not provide for these costs in our Consolidated Financial Statements.

Pension and Postretirement Obligations

Pension and Postretirement Obligations. U.S. GAAP requires balance sheet recognition of the overfunded or underfunded status of pension and postretirement benefit (PRB) plans. Funded status is measured at least annually in the fourth quarter and represents the difference between the plans’ projected benefit obligation (PBO) and the fair market value of the plans’ assets.

Changes to our pension and PRB plans’ funded status can result from company actions, such as contributions, changes in plan provisions, or by gains and losses. Gains and losses are primarily a result of changes in assumptions and actual experience that differs from these assumptions. Major assumptions include the discount rate and expected return on plan assets (EROA). Other assumptions include actuarial and demographic assumptions including mortality rates, retirement age, and rate of increase in employee compensation levels. These gains or losses are recorded in Other comprehensive loss, net of tax, until they are amortized as a component of net periodic benefit (income) expense.

A calculated “market-related value” of our plan assets is generally used to develop the amount of deferred asset gains or losses to be amortized. The market-related value of assets is generally equal to the fair value of assets adjusted to reflect the recognition, and subsequent amortization, of the difference between actual and expected asset returns over a five-year period. The market-related value of assets is used to calculate the expected return on assets included in the net periodic benefit (income) expense.

The Company has elected to use the “corridor” approach in the amortization of gains and losses, which limits the expense recognition to the net outstanding gains and losses in excess of the greater of 10% of the PBO or 10% of the market-related value of assets. Gains and losses exceeding the corridor are amortized in net periodic benefit (income) expense over either the projected average remaining employee service period or the projected average remaining lifetime of inactive participants depending on the plan.

Net periodic benefit (income) expense is classified between operating and non-operating, whereby only the service cost component is included in operating profit and the remaining components are included in Non-service pension income.

Product Performance Obligations

Product Performance Obligations. We extend performance and operating cost guarantees beyond our normal service and warranty policies for extended periods on some of our products, particularly commercial aircraft engines. Liability under such guarantees is based upon future product performance and durability. We accrue for such costs that are probable and can be reasonably estimated. In addition, we incur discretionary costs to service our products in connection with product performance issues. The costs associated with these product performance and operating cost guarantees require estimates over the full terms of the agreements, and require management to consider factors such as the extent of future maintenance requirements, interval between flight and repair time, and the future cost of material and labor to perform the services. These cost estimates are largely based upon historical experience.

Government Grants

Government Grants. We may receive grants from various federal, state, local, and foreign governments in exchange for compliance with certain conditions relating to our activities in a specific jurisdiction. Grants are often structured to encourage investment, job creation, job retention, employee training, and other related activities. We recognize government grants when there is reasonable assurance that the Company will comply with the conditions of the grant and the grant is received or is probable of receipt and the amount is determinable. Government grants are recorded as a reduction to the related expense or asset to which the grant relates or recorded in Other income (expense), net in our Consolidated Statement of Operations. Government grant transactions are not material to our financial position, results of operations, or liquidity.

Accounting Pronouncements

Accounting Pronouncements. In December 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2025-10; Accounting for Government Grants Received by Business Entities, which provides guidance on how companies should recognize, measure, and present government grants received. The new standard is effective for annual and interim reporting periods beginning after December 15, 2028. The standard allows for a modified prospective, modified retrospective, or retrospective transition. Early adoption is permitted. We are currently evaluating the impact of adopting this new pronouncement.

In September 2025, the FASB issued ASU 2025-06, Targeted Improvements to the Accounting for Internal-Use Software, which better aligns the accounting guidance to how software is developed by eliminating project stages from capitalization criteria. The new standard is effective for annual reporting periods beginning after December 15, 2027 and interim periods within those annual reporting periods. The standard allows for prospective, modified, or retrospective transition. Early adoption is permitted. We are currently evaluating the impact of adopting this new pronouncement.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, which requires a tabular disclosure of the amounts of specified natural expense categories included in each relevant expense caption. Additionally, the amendments require the disclosure of the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The new standard is effective for annual reporting periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, on a prospective basis. Early adoption is permitted. We are currently evaluating the impact on our disclosures of adopting this new pronouncement.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance income tax reporting disclosures and require disclosure of specific categories in the tabular rate reconciliation. We adopted this standard for the annual period ending December 31, 2025 on a prospective basis. We updated our income tax disclosures to comply with the requirements. See “Note 12: Income Taxes.” The adoption of the standard did not have an impact on our financial position, results of operations, or liquidity.

Other new pronouncements issued but not effective until after December 31, 2025 are not expected to have a material impact on our results of operations, financial condition, or liquidity.

Financial Instruments (Narrative) (Details) € in Millions, $ in Billions	Dec. 31, 2025 USD ($)	Dec. 31, 2025 EUR (€)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)
Derivative [Line Items]
Derivative, notional amount \| $	$ 26		$ 17
Notes 2.150% Due 2030
Derivative [Line Items]
Face amount		€ 500		€ 500
Notes 2.150% Due 2030 \| Designated as Hedging Instrument
Derivative [Line Items]
Face amount				€ 320

Borrowings and Lines of Credit (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Repayments of Long-Term Debt

During 2025 and 2024, we made the following repayments of long-term debt:


Date	Description of Notes	Aggregate Principal Balance (in millions)
December 17, 2025	3 Month SOFR plus 1.225% Term Loan due 2026	$	1,100
August 18, 2025	3.950% notes due 2025	1,500
May 7, 2025	3 Month SOFR plus 1.225% term loan due 2025	750
December 24, 2024	3 Month SOFR plus 1.225% term loan due 2025	500
December 15, 2024	3.150% notes due 2024	300
May 7, 2024	3 Month SOFR plus 1.225% term loan due 2025	250
April 17, 2024	3 Month SOFR plus 1.225% term loan due 2025	250
April 4, 2024	3 Month SOFR plus 1.225% term loan due 2025	250
March 15, 2024	3.200% notes due 2024	950

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following as of December 31:


(dollars in millions)	2025		2024




3 Month SOFR plus 1.225% term loan due 2025	$	—	$	750
3.950% notes due 2025 (1)	—		1,500
5.000% notes due 2026 (1)	500		500
2.650% notes due 2026 (1)	719		719
3 Month SOFR plus 1.225% term loan due 2026	900		2,000
5.750% notes due 2026 (1)	1,250		1,250
3.125% notes due 2027 (1)	1,100		1,100
3.500% notes due 2027 (1)	1,300		1,300
7.200% notes due 2027 (1)	382		382
7.100% notes due 2027	135		135
6.700% notes due 2028	285		285
7.000% notes due 2028 (1)	185		185
4.125% notes due 2028 (1)	3,000		3,000
5.750% notes due 2029 (1)	500		500
7.500% notes due 2029 (1)	414		414
2.150% notes due 2030 (€500 million principal value) (1)	587		520
2.250% notes due 2030 (1)	1,000		1,000
6.000% notes due 2031 (1)	1,000		1,000
1.900% notes due 2031 (1)	1,000		1,000
2.375% notes due 2032 (1)	1,000		1,000
5.150% notes due 2033 (1)	1,250		1,250
6.100% notes due 2034 (1)	1,500		1,500
5.400% notes due 2035 (1)	446		446


(dollars in millions)	2025		2024
6.050% notes due 2036 (1)	410		410
6.800% notes due 2036 (1)	117		117
7.000% notes due 2038	148		148
6.125% notes due 2038 (1)	575		575
4.450% notes due 2038 (1)	750		750
5.700% notes due 2040 (1)	553		553
4.875% notes due 2040 (1)	600		600
4.700% notes due 2041 (1)	425		425
4.500% notes due 2042 (1)	3,500		3,500
4.800% notes due 2043 (1)	400		400
4.200% notes due 2044 (1)	300		300
4.150% notes due 2045 (1)	850		850
3.750% notes due 2046 (1)	1,100		1,100
4.050% notes due 2047 (1)	600		600
4.350% notes due 2047 (1)	1,000		1,000
4.625% notes due 2048 (1)	1,750		1,750
3.125% notes due 2050 (1)	1,000		1,000
2.820% notes due 2051 (1)	1,000		1,000
3.030% notes due 2052 (1)	1,100		1,100
5.375% notes due 2053 (1)	1,250		1,250
6.400% notes due 2054 (1)	1,750		1,750
Other (including finance leases)	146		232
Total principal long-term debt	37,777		41,146
Other (fair market value adjustments, (discounts)/premiums, and debt issuance costs)	(77)		(68)
Total long-term debt	37,700		41,078
Less: current portion	3,412		2,352
Long-term debt, net of current portion	$	34,288	$	38,726

(1) We may redeem these notes, in whole or in part, at our option pursuant to their terms prior to the applicable maturity date.

Schedule of Principal Payments on Long-term Debt

The schedule of principal payments required on long-term debt for the next five years and thereafter is:


(in millions)
2026	$	3,412
2027	2,928
2028	3,490
2029	922
2030	1,593
Thereafter	25,432
Total	$	37,777

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

+ Details

Income Taxes (Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Tax Jurisdiction of Domicile [Extensible Enumeration]	United States
Amount
Statutory U.S. Federal Income Tax Rate	$ 1,834	$ 1,301	$ 805
State and Local Income Tax, net of federal income tax effect	168	187	17
Foreign Tax Effects	(17)	6	(27)
Effect of Cross-Border Tax Laws	96
U.S. Federal Research and development tax credit	(182)	(188)	(168)
U.S. federal audit settlements and statute lapse		(277)	(59)
Nontaxable or Nondeductible Items	51
Worldwide Changes in Prior Year Unrecognized Tax Benefits	(83)
Disposals of businesses		126	0
Foreign Derived Intangible Income		(126)	(142)
Non-deductible legal charges		148	5
Other	(203)	4	25
Income tax expense	$ 1,664	$ 1,181	$ 456
Rate
Statutory U.S. Federal Income Tax Rate	21.00%	21.00%	21.00%
State and Local Income Tax, net of federal income tax effect	1.90%	3.00%	0.40%
Foreign Tax Effects	(0.20%)	0.10%	(0.70%)
Effect of Cross-Border Tax Laws	1.10%
U.S. Federal Research and development tax credit	(2.10%)	(3.00%)	(4.40%)
U.S. federal audit settlements and statute lapse		(4.50%)	(1.50%)
Nontaxable or Nondeductible Items	0.60%
Worldwide Changes in Prior Year Unrecognized Tax Benefits	(0.90%)
Disposals of businesses		2.00%	0.00%
Foreign Derived Intangible Income		(2.00%)	(3.70%)
Non-deductible legal charges		2.40%	0.10%
Other	(2.30%)	0.10%	0.70%
Effective income tax rate	19.10%	19.10%	11.90%

Employee Benefit Plans (Projected Benefit Obligation in Excess of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Retirement Benefits [Abstract]
Projected benefit obligation	$ 3,406	$ 3,298
Accumulated benefit obligation	3,368	3,272
Fair value of plan assets	$ 1,726	$ 1,571

Stock-Based Compensation (Stock-Based Compensation Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Total compensation cost recognized	$ 519	$ 437	$ 425

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Expected Maturity of Commercial Aerospace Industry Commitments

The following is the expected maturity of our commercial aerospace industry commitments as of December 31, 2025:


(dollars in millions)	Committed		2026		2027		2028		2029		2030		Thereafter
Commercial aerospace financing commitments	$	3,874	$	1,687	$	1,357	$	830	$	—	$	—	$	—
Other commercial aerospace commitments	9,242		752		628		660		645		511		6,046
Collaboration partners’ share	(5,325)		(1,018)		(854)		(655)		(273)		(215)		(2,310)
Total commercial aerospace commitments	$	7,791	$	1,421	$	1,131	$	835	$	372	$	296	$	3,736

Segment Financial Data (Disaggregation of Revenue) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue, Major Customer [Line Items]
Net Sales	$ 88,603	$ 80,738	$ 68,920
Products
Revenue, Major Customer [Line Items]
Net Sales	64,171	59,612	49,571
Services
Revenue, Major Customer [Line Items]
Net Sales	24,432	21,126	19,349
Sales to the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	33,279	32,246	31,628
Foreign military sales through the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	6,702	5,765	4,974
Foreign government direct commercial sales
Revenue, Major Customer [Line Items]
Net Sales	6,123	5,317	4,249
Commercial aerospace and other commercial sales
Revenue, Major Customer [Line Items]
Net Sales	$ 42,499	$ 37,410	$ 28,069
Airbus
Revenue, Major Customer [Line Items]
Percentage of net sales	14.00%	14.00%	17.00%
Powder Metal Matter
Revenue, Major Customer [Line Items]
Net Sales			$ (5,401)
United States
Revenue, Major Customer [Line Items]
Net Sales	$ 47,291	$ 46,087	44,881
Europe
Revenue, Major Customer [Line Items]
Net Sales	18,799	15,975	13,501
Asia Pacific
Revenue, Major Customer [Line Items]
Net Sales	13,782	10,893	9,049
Middle East and North Africa
Revenue, Major Customer [Line Items]
Net Sales	3,621	3,458	3,237
Other regions
Revenue, Major Customer [Line Items]
Net Sales	5,110	4,325	3,653
Collins Aerospace
Revenue, Major Customer [Line Items]
Net Sales	27,585	25,929	24,294
Pratt & Whitney
Revenue, Major Customer [Line Items]
Net Sales	32,916	28,064	18,296
Raytheon
Revenue, Major Customer [Line Items]
Net Sales	27,892	26,570	26,220
Other
Revenue, Major Customer [Line Items]
Net Sales	210	175	110
Operating Segments
Revenue, Major Customer [Line Items]
Net Sales	91,155	83,063	70,899
Operating Segments \| Collins Aerospace
Revenue, Major Customer [Line Items]
Net Sales	30,196	28,284	26,253
Operating Segments \| Collins Aerospace \| Products
Revenue, Major Customer [Line Items]
Net Sales	21,467	20,272	19,034
Operating Segments \| Collins Aerospace \| Services
Revenue, Major Customer [Line Items]
Net Sales	6,118	5,657	5,260
Operating Segments \| Collins Aerospace \| Sales to the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	7,061	6,850	6,357
Operating Segments \| Collins Aerospace \| Foreign military sales through the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	436	384	304
Operating Segments \| Collins Aerospace \| Foreign government direct commercial sales
Revenue, Major Customer [Line Items]
Net Sales	1,230	1,242	1,110
Operating Segments \| Collins Aerospace \| Commercial aerospace and other commercial sales
Revenue, Major Customer [Line Items]
Net Sales	18,858	17,453	16,523
Operating Segments \| Collins Aerospace \| United States
Revenue, Major Customer [Line Items]
Net Sales	14,136	13,668	13,185
Operating Segments \| Collins Aerospace \| Europe
Revenue, Major Customer [Line Items]
Net Sales	6,852	6,634	6,423
Operating Segments \| Collins Aerospace \| Asia Pacific
Revenue, Major Customer [Line Items]
Net Sales	3,779	3,185	2,625
Operating Segments \| Collins Aerospace \| Middle East and North Africa
Revenue, Major Customer [Line Items]
Net Sales	1,076	840	684
Operating Segments \| Collins Aerospace \| Other regions
Revenue, Major Customer [Line Items]
Net Sales	1,742	1,602	1,377
Operating Segments \| Pratt & Whitney
Revenue, Major Customer [Line Items]
Net Sales	32,916	28,066	18,296
Operating Segments \| Pratt & Whitney \| Products
Revenue, Major Customer [Line Items]
Net Sales	18,467	16,316	8,579
Operating Segments \| Pratt & Whitney \| Services
Revenue, Major Customer [Line Items]
Net Sales	14,449	11,748	9,717
Operating Segments \| Pratt & Whitney \| Sales to the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	6,778	6,086	5,206
Operating Segments \| Pratt & Whitney \| Foreign military sales through the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	1,786	1,528	1,442
Operating Segments \| Pratt & Whitney \| Foreign government direct commercial sales
Revenue, Major Customer [Line Items]
Net Sales	792	712	515
Operating Segments \| Pratt & Whitney \| Commercial aerospace and other commercial sales
Revenue, Major Customer [Line Items]
Net Sales	23,560	19,738	11,133
Operating Segments \| Pratt & Whitney \| Powder Metal Matter
Revenue, Major Customer [Line Items]
Net Sales			(5,401)
Operating Segments \| Pratt & Whitney \| United States
Revenue, Major Customer [Line Items]
Net Sales	13,636	13,025	11,403
Operating Segments \| Pratt & Whitney \| Europe
Revenue, Major Customer [Line Items]
Net Sales	7,669	6,376	5,433
Operating Segments \| Pratt & Whitney \| Asia Pacific
Revenue, Major Customer [Line Items]
Net Sales	7,625	5,461	4,227
Operating Segments \| Pratt & Whitney \| Middle East and North Africa
Revenue, Major Customer [Line Items]
Net Sales	821	650	539
Operating Segments \| Pratt & Whitney \| Other regions
Revenue, Major Customer [Line Items]
Net Sales	3,165	2,552	2,095
Operating Segments \| Raytheon
Revenue, Major Customer [Line Items]
Net Sales	28,043	26,713	26,350
Operating Segments \| Raytheon \| Fixed-price
Revenue, Major Customer [Line Items]
Net Sales	16,647	14,515	13,164
Operating Segments \| Raytheon \| Cost-type
Revenue, Major Customer [Line Items]
Net Sales	11,245	12,055	13,056
Operating Segments \| Raytheon \| Products
Revenue, Major Customer [Line Items]
Net Sales	24,063	22,872	21,847
Operating Segments \| Raytheon \| Services
Revenue, Major Customer [Line Items]
Net Sales	3,829	3,698	4,373
Operating Segments \| Raytheon \| Sales to the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	19,237	19,142	19,965
Operating Segments \| Raytheon \| Foreign military sales through the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	4,480	3,853	3,228
Operating Segments \| Raytheon \| Foreign government direct commercial sales
Revenue, Major Customer [Line Items]
Net Sales	4,099	3,361	2,620
Operating Segments \| Raytheon \| Commercial aerospace and other commercial sales
Revenue, Major Customer [Line Items]
Net Sales	76	214	407
Operating Segments \| Raytheon \| United States
Revenue, Major Customer [Line Items]
Net Sales	19,313	19,224	20,187
Operating Segments \| Raytheon \| Europe
Revenue, Major Customer [Line Items]
Net Sales	4,275	2,962	1,642
Operating Segments \| Raytheon \| Asia Pacific
Revenue, Major Customer [Line Items]
Net Sales	2,377	2,245	2,196
Operating Segments \| Raytheon \| Middle East and North Africa
Revenue, Major Customer [Line Items]
Net Sales	1,724	1,968	2,014
Operating Segments \| Raytheon \| Other regions
Revenue, Major Customer [Line Items]
Net Sales	203	171	181
Operating Segments \| Other
Revenue, Major Customer [Line Items]
Net Sales	(2,552)	(2,325)	(1,979)
Operating Segments \| Other \| Products
Revenue, Major Customer [Line Items]
Net Sales	174	152	111
Operating Segments \| Other \| Services
Revenue, Major Customer [Line Items]
Net Sales	36	23	(1)
Operating Segments \| Other \| Sales to the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	203	168	100
Operating Segments \| Other \| Foreign military sales through the U.S. government
Revenue, Major Customer [Line Items]
Net Sales	0	0	0
Operating Segments \| Other \| Foreign government direct commercial sales
Revenue, Major Customer [Line Items]
Net Sales	2	2	4
Operating Segments \| Other \| Commercial aerospace and other commercial sales
Revenue, Major Customer [Line Items]
Net Sales	5	5	6
Operating Segments \| Other \| United States
Revenue, Major Customer [Line Items]
Net Sales	206	170	106
Operating Segments \| Other \| Europe
Revenue, Major Customer [Line Items]
Net Sales	3	3	3
Operating Segments \| Other \| Asia Pacific
Revenue, Major Customer [Line Items]
Net Sales	1	2	1
Operating Segments \| Other \| Middle East and North Africa
Revenue, Major Customer [Line Items]
Net Sales	0	0	0
Operating Segments \| Other \| Other regions
Revenue, Major Customer [Line Items]
Net Sales	0	0	0
Inter-segment sales
Revenue, Major Customer [Line Items]
Net Sales	(2,552)	(2,325)	(1,979)
Inter-segment sales \| Collins Aerospace
Revenue, Major Customer [Line Items]
Net Sales	(2,611)	(2,355)	(1,959)
Inter-segment sales \| Pratt & Whitney
Revenue, Major Customer [Line Items]
Net Sales	0	(2)	0
Inter-segment sales \| Raytheon
Revenue, Major Customer [Line Items]
Net Sales	(151)	(143)	(130)
Inter-segment sales \| Other
Revenue, Major Customer [Line Items]
Net Sales	$ 2,762	$ 2,500	$ 2,089

Guarantees (Narrative) (Details) - USD ($) $ in Billions	Dec. 31, 2025	Dec. 31, 2024
Commercial Aerospace
Guarantee Obligations [Line Items]
Collaboration partners' share of financing guarantees	$ 0.1	$ 0.1
Other Guarantees
Guarantee Obligations [Line Items]
Carrying amount of guarantee obligations	$ 0.1	$ 0.1

Borrowings and Lines of Credit (Schedule of Principal Payments on Long-term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Debt Disclosure [Abstract]
2026	$ 3,412
2027	2,928
2028	3,490
2029	922
2030	1,593
Thereafter	25,432
Total	$ 37,777	$ 41,146

Consolidated Statement of Changes in Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Common Stock Defined Contribution Plan	Common Stock Defined Benefit Plan	Treasury Stock	Treasury Stock Defined Contribution Plan	Treasury Stock Defined Benefit Plan	Retained Earnings	Unearned ESOP Shares	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Equity beginning balance at Dec. 31, 2022	$ 74,178	$ 37,939			$ (15,530)			$ 52,269	$ (28)	$ (2,018)	$ 1,546
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock plans activity		368
Share-based 401(k) matching contributions / Common stock contributed to defined benefit pension plans			$ 242	$ 7		$ 0	$ 43		13
Common stock repurchased		(1,500)			(11,490)
Purchase of subsidiary shares from noncontrolling interest, net		(1)
Net income	3,380							3,195			185
Dividends on common stock								(3,239)
Dividends on ESOP common stock								(56)
Other								(15)
Other comprehensive income (loss), net of tax	(401)									(401)
Redeemable noncontrolling interest net income											(8)
Dividends attributable to noncontrolling interest											(108)
Sale (purchase) of subsidiary shares from noncontrolling interest, net											0
Disposition of noncontrolling interest, net											(3)
Capital contributions											0
Equity ending balance at Dec. 31, 2023	$ 61,410	37,055			(26,977)			52,154	(15)	(2,419)	1,612
Supplemental share information
Shares of common stock issued under employee plans, net (in shares)	1,757
Shares of common stock repurchased (in shares)	141,712
Treasury shares reissued related to 401(k) matching contributions (in shares)	0
Shares of common stock contributed to defined benefit pension plans (in shares)	623
Dividends declared per share of common stock (in dollars per share)	$ 2.320
Common stock plans activity		110
Share-based 401(k) matching contributions / Common stock contributed to defined benefit pension plans			269	0		90	0		15
Common stock repurchased		0			(225)
Purchase of subsidiary shares from noncontrolling interest, net		0
Net income	$ 5,013							4,774			239
Dividends on common stock								(3,217)
Dividends on ESOP common stock								(81)
Other								(41)
Other comprehensive income (loss), net of tax	(1,336)									(1,336)
Redeemable noncontrolling interest net income											(8)
Dividends attributable to noncontrolling interest											(123)
Sale (purchase) of subsidiary shares from noncontrolling interest, net											33
Disposition of noncontrolling interest, net											0
Capital contributions											14
Equity ending balance at Dec. 31, 2024	$ 61,923	37,434			(27,112)			53,589	0	(3,755)	1,767
Supplemental share information
Shares of common stock issued under employee plans, net (in shares)	6,039
Shares of common stock repurchased (in shares)	2,116
Treasury shares reissued related to 401(k) matching contributions (in shares)	1,293
Shares of common stock contributed to defined benefit pension plans (in shares)	0
Dividends declared per share of common stock (in dollars per share)	$ 2.480
Common stock plans activity		400
Share-based 401(k) matching contributions / Common stock contributed to defined benefit pension plans			$ 292	$ 0		$ 281	$ 0		0
Common stock repurchased		0			(50)
Purchase of subsidiary shares from noncontrolling interest, net		0
Net income	$ 7,069							6,732			337
Dividends on common stock								(3,419)
Dividends on ESOP common stock								(155)
Other								(29)
Other comprehensive income (loss), net of tax	1,037									1,037
Redeemable noncontrolling interest net income											(10)
Dividends attributable to noncontrolling interest											(237)
Sale (purchase) of subsidiary shares from noncontrolling interest, net											0
Disposition of noncontrolling interest, net											0
Capital contributions											0
Equity ending balance at Dec. 31, 2025	$ 67,102	$ 38,126			$ (26,881)			$ 56,718	$ 0	$ (2,718)	$ 1,857
Supplemental share information
Shares of common stock issued under employee plans, net (in shares)	6,556
Shares of common stock repurchased (in shares)	396
Treasury shares reissued related to 401(k) matching contributions (in shares)	4,004
Shares of common stock contributed to defined benefit pension plans (in shares)	0
Dividends declared per share of common stock (in dollars per share)	$ 2.670

Basis of Presentation and Summary of Accounting Principles (Change in Accounting Estimates) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Change in Accounting Estimate [Line Items]
Total net sales	$ (208)	$ (144)	$ (452)
Operating profit	9,300	6,538	3,561
Net income attributable to common shareowners	$ 6,732	$ 4,774	$ 3,195
Diluted earnings per share attributable to common shareowners (in dollars per share)	$ 4.96	$ 3.55	$ 2.23
Contracts Accounted for under Percentage of Completion
Change in Accounting Estimate [Line Items]
Operating profit	$ (386)	$ (473)	$ (648)
Net income attributable to common shareowners	$ (305)	$ (374)	$ (512)
Diluted earnings per share attributable to common shareowners (in dollars per share)	$ (0.22)	$ (0.28)	$ (0.36)

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The net result for the period of deducting operating expenses from operating revenues.

+ References

+ Details

Employee Benefit Plans

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Employee Benefit Plans

NOTE 10: EMPLOYEE BENEFIT PLANS

We sponsor various domestic and foreign employee benefit plans, which are discussed below.

Employee Savings Plans. We sponsor various employee savings plans. Our contributions to employer sponsored defined contribution plans were $1.4 billion, $1.4 billion, and $1.3 billion for 2025, 2024, and 2023, respectively.

Our domestic employee savings plan uses an Employee Stock Ownership Plan (ESOP) for certain employer matching contributions. Prior to the third quarter of 2024, the ESOP held stock that was purchased using external borrowings. As ESOP debt service payments were made, common stock was released from an unallocated ESOP account. ESOP debt was either prepaid or re-amortized to either increase or decrease the number of shares released so that the value of released shares equaled the value of plan benefit. It was also the Company’s option to contribute additional common stock or cash to the ESOP. Shares of common stock were allocated to participants’ ESOP accounts at fair value on the date earned. Cash dividends on unallocated common stock held by the ESOP were used for debt service payments. Cash dividends on allocated shares are either reinvested or paid directly in cash to the participant, according to the participant’s election. Participants chose to have their ESOP dividends reinvested or distributed to their accounts in cash. Common stock allocated to ESOP participants was included in the average number of common shares outstanding for both basic and diluted EPS. At December 31, 2024, all 23 million common shares related to this leveraged ESOP have been allocated to employees.

During the third quarter of 2024, remaining unallocated ESOP shares were fully allocated to participant accounts through matching contributions, and we began funding the ESOP match in shares on a non-leveraged basis. Under the new non-leveraged basis, treasury shares are utilized to fund the matching contributions, and participants receive units from the ESOP in the amount of their matching contribution at fair value on the date earned. Once shares are contributed to the participants’ ESOP accounts, they have a right to dividend payments and are included in the average number of common shares outstanding for both basic and diluted EPS. In the fourth quarter of 2024, we expanded the funding of our matching contributions in shares under the ESOP to additional participants who previously received matching contributions in cash.

In 2025 and 2024, we used the ESOP to make matching contributions of $0.6 billion and $0.4 billion, respectively, which was equivalent to 4 million and 3 million shares, respectively.

Pension and Postretirement Plans. We sponsor both funded and unfunded domestic and foreign defined benefit pension plans that cover a large number of our employees. Our largest plans are generally closed to new participants. We also sponsor both funded and unfunded PRB plans that provide health care and life insurance benefits to eligible retirees. Our plans use a December 31 measurement date consistent with our fiscal year.

At December 31, 2023, we merged our remaining Raytheon Company domestic defined benefit pension plans into the RTX Consolidated Pension Plan (the Plan). This plan merger did not impact participants’ benefit formulas.

In December 2025, we completed a buy-out conversion of a group annuity contract previously purchased by the Plan from The Prudential Insurance Company of America (Prudential) transferring approximately $2.3 billion of gross pension obligations from the Plan to Prudential. In connection with the contract purchase, Fiduciary Counselors Inc. acted as independent fiduciary for the Plan. Upon completion of the buy-out conversion, Prudential assumed the obligation and administrative responsibility for retirement benefits owed to approximately 60,000 Plan retirees and beneficiaries, which represents approximately one-third of retirees and beneficiaries in the Plan. The transaction resulted in no change to the amounts of benefits payable and did not diminish the Plan’s funded status. In connection with the transaction, we recognized a one-time, non-cash pension settlement charge of $0.3 billion in the fourth quarter of 2025, recorded in Non-service pension income, within the Consolidated Statement of Operations.


	Pension
(dollars in millions)	2025		2024
Change in Benefit Obligation:
Beginning balance	$	46,322	$	49,592
Service cost	169		189

Interest cost	2,343		2,385
Actuarial loss (gain)	1,253		(2,013)
Total benefits paid (1)	(3,530)		(3,633)
Net settlement, curtailment, and special termination benefits	(2,479)		9
Plan amendments	100		36
Business combinations and divestitures	1		(23)
Other (2)	275		(220)
Ending balance	$	44,454	$	46,322
Change in Plan Assets:
Beginning balance	$	46,414	$	48,945
Actual return on plan assets	4,237		1,092
Employer contributions (1)	210		235
Total benefits paid (1)	(3,530)		(3,633)
Settlements	(2,479)		(3)

Other (2)	262		(222)
Ending balance	$	45,114	$	46,414

(1) Includes benefit payments paid directly by the company.

(2) The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the United Kingdom and Canada, and participant contributions.


	Pension				PRB
(dollars in millions)	2025		2024		2025		2024





















Funded Status:
Fair value of plan assets	$	45,114	$	46,414	$	330	$	314
Benefit obligations	(44,454)		(46,322)		(890)		(898)
Funded status of plan	$	660	$	92	$	(560)	$	(584)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Non-current assets	$	2,339	$	1,819	$	—	$	—
Current liabilities	(169)		(195)		(59)		(61)
Non-current liabilities	(1,510)		(1,532)		(501)		(523)
Net amount recognized	$	660	$	92	$	(560)	$	(584)
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss (gain)	$	5,431	$	4,926	$	(232)	$	(296)
Prior service credit	(822)		(1,044)		—		(1)
Net amount recognized	$	4,609	$	3,882	$	(232)	$	(297)

The majority of our pension obligations relate to our U.S. Internal Revenue Service (IRS) qualified pension plans, which comprise 86% of our pension PBO as of both December 31, 2025 and 2024. Our nonqualified domestic pension plans, which provide supplementary benefits to certain employees in excess of the IRS qualified plan limits, comprise 3% of our pension PBO as of both December 31, 2025 and 2024. Our international plans comprise 11% of our pension PBO as of both December 31, 2025 and 2024.

In addition to the pension and PRB non-current liabilities shown above, Future pension and postretirement benefit obligations on the Consolidated Balance Sheet includes other immaterial pension and PRB-related liabilities.

Information for pension plans with accumulated benefit obligations in excess of plan assets:


(dollars in millions)	2025		2024
Projected benefit obligation	$	3,311	$	3,260
Accumulated benefit obligation	3,284		3,239
Fair value of plan assets	1,634		1,537

The accumulated benefit obligation for all defined benefit pension plans was $44.2 billion and $46.1 billion at December 31, 2025 and 2024, respectively.

Information for pension plans with projected benefit obligations in excess of plan assets:


(dollars in millions)	2025		2024
Projected benefit obligation	$	3,406	$	3,298
Accumulated benefit obligation	3,368		3,272
Fair value of plan assets	1,726		1,571

The components of the net periodic pension income are as follows:


(dollars in millions)	2025		2024		2023
Operating expense
Service cost	$	169	$	189	$	222
Non-operating expense
Interest cost	2,343		2,385		2,507
Expected return on plan assets	(3,682)		(3,747)		(3,753)
Amortization of prior service credit	(140)		(170)		(158)

Recognized actuarial net loss (gain)	21		20		(378)
Net settlement, curtailment, and special termination benefits loss	275		13		6
Non-service pension income	(1,183)		(1,499)		(1,776)
Total net periodic pension income	$	(1,014)	$	(1,310)	$	(1,554)

Other changes in pension plan assets and benefit obligations recognized in other comprehensive loss in 2025 and 2024 are as follows:


(dollars in millions)	2025		2024
Net actuarial loss arising during the period	$	698	$	642
Amortization of actuarial loss	(21)		(20)
Current year prior service cost	100		36
Amortization of prior service credit	140		170
Net settlement and curtailment	(275)		(12)

Other (1)	85		1
Total recognized in other comprehensive loss	727		817
Net recognized in net periodic pension income and other comprehensive loss	$	(287)	$	(493)

(1) The amount included in Other primarily reflects the impact of foreign exchange translation, primarily for plans in the United Kingdom and Canada.

The Actuarial loss arising in 2025 was primarily due to a decrease in discount rates during 2025, partially offset by actual asset returns greater than our expected return on assets.

The Actuarial loss arising in 2024 was primarily due to actual asset returns less than our expected return on assets, partially

offset by an increase in discount rates during 2024.

The table below reflects the total benefit payments expected to be paid from the pension plans or from corporate assets.


(dollars in millions)	Pension
2026	$	3,906
2027	3,470
2028	3,428
2029	3,427
2030	3,410
2031-2035	16,229

Assumptions used in determining the pension benefit obligation and net periodic pension income are presented in the following table as weighted-averages:


	Pension Benefit Obligation				Net Periodic Pension Income
	2025		2024		2025		2024		2023
Discount rate
PBO	5.3	%	5.6	%	5.6	%	5.1	%	5.5	%
Interest cost (1)	N/A		N/A		5.3	%	5.0	%	5.3	%
Service cost (1)	N/A		N/A		5.6	%	5.0	%	5.4	%
Salary scale	4.4	%	4.4	%	4.4	%	4.4	%	4.4	%
Expected return on plan assets	N/A		N/A		7.1	%	7.1	%	7.1	%
Interest crediting rate	5.0	%	5.0	%	5.0	%	5.0	%	4.4	%

The weighted-average discount rates used to measure pension liabilities are generally based on yield curves developed using high-quality corporate bonds as well as plan specific expected cash flows. For our significant plans, we utilize a full yield curve approach in the estimation of the service cost and interest cost components of net periodic pension income by applying the specific spot rates along the yield curve used in determination of the benefit obligation to the relevant discounted projected cash flows.

In determining the EROA assumption, we consider the target asset allocation of plan assets, as well as economic and other indicators of future performance. We consult with and consider the opinions of financial and other professionals in determining the appropriate capital market assumptions. Return projections are validated using a simulation model that incorporates yield curves, credit spreads, and risk premiums to project long-term prospective returns.

Other assumptions include actuarial and demographic assumptions including mortality rates and retirement age.

Plan Assets. The plans’ investment management objectives include providing the liquidity and asset levels needed to meet current and future benefit payments, while maintaining a prudent degree of portfolio diversification considering interest rate risk and market volatility. Globally, on average, investment strategies generally target a mix of 26% to 46% of growth seeking assets and 54% to 74% of income generating and hedging assets using a wide set of diversified asset types, fund strategies, and investment managers. The growth seeking allocation consists of global public equities in developed and emerging countries, private equity, and real estate. Investments in private equity are primarily via limited partnership interests in buy-out strategies. The real estate strategy is principally concentrated in directly held U.S. core investments with some smaller investments in international, value-added, and opportunistic strategies. Within the income generating assets, the fixed income portfolio consists of mainly government and broadly diversified high quality corporate bonds.

The plans have continued pension risk management techniques designed to reduce their interest rate risk. Specifically, the plans have incorporated liability hedging programs that include the adoption of a risk reduction objective as part of the long-term investment strategy. Under this objective the interest rate hedge is intended to increase as funded status improves. The hedging programs incorporate a range of assets and investment tools, each with varying interest rate sensitivities. The investment portfolios currently hedge approximately 80% of the pension plan liabilities’ interest‑rate sensitivity, with the exact level varying based on the plan’s funded status. The hedging assets portfolio also includes an enhanced alpha strategy that invests in equity, fixed income, derivatives, and foreign currency.

The fair values of pension plan assets at December 31, 2025 and 2024 by asset category are as follows:


(dollars in millions)	Quoted Prices in Active Markets For Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Not Subject to Leveling (7)		Total
Asset Category:
Public Equities
Global Equities	$	5,781	$	9	$	—	$	—	$	5,790
Global Equity Commingled Funds (1)	—		650		—		—		650
Other Public Equities	—		—		—		2,531		2,531
Private Equities (2)	—		—		—		4,987		4,987
Fixed Income Securities
Governments	5,078		1,882		—		—		6,960
Corporate Bonds	—		8,846		—		—		8,846
Structured Products	—		14		—		—		14
Other Fixed Income	—		—		—		10,875		10,875
Real Estate (3)	—		—		1,249		1,555		2,804
Other (4)	—		480		—		130		610
Cash & Cash Equivalents (5)	—		162		—		110		272
Subtotal	$	10,859	$	12,043	$	1,249	$	20,188	$	44,339
Other Assets & Liabilities (6)									775
Total at December 31, 2025									$	45,114
Public Equities
Global Equities	$	6,195	$	13	$	—	$	—	$	6,208
Global Equity Commingled Funds (1)	—		624		—		—		624
Other Public Equities	—		—		—		2,431		2,431
Private Equities (2)	—		—		—		4,985		4,985
Fixed Income Securities
Governments	4,462		801		—		—		5,263
Corporate Bonds	1		11,343		—		—		11,344
Structured Products	—		27		—		—		27
Other Fixed Income	—		—		—		11,259		11,259
Real Estate (3)	—		—		1,481		1,557		3,038
Other (4)	—		513		—		113		626
Cash & Cash Equivalents (5)	—		341		—		79		420
Subtotal	$	10,658	$	13,662	$	1,481	$	20,424	$	46,225
Other Assets & Liabilities (6)									189
Total at December 31, 2024									$	46,414

(1) Represents commingled funds that invest primarily in common stocks.

(2) Represents limited partnership investments with general partners that primarily invest in equity and debt.

(3) Represents investments in real estate including commingled funds and directly held properties.

(4) Primarily represents insurance contracts.

(5) Represents short-term commercial paper, bonds, and other cash or cash-like instruments.

(6) Represents receivables, payables, and certain individually immaterial international plan assets that are not leveled.

Derivatives in the plan are primarily used to manage risk and gain asset class exposure while still maintaining liquidity. Derivative instruments mainly consist of equity futures, interest rate futures, interest rate swaps, and currency forward

contracts. The fair market value of the plans’ derivatives through direct or separate account investments was approximately ($8) million and ($120) million as of December 31, 2025 and 2024, respectively.

We review our assets at least quarterly to ensure we are within the targeted asset allocation ranges and, if necessary, asset balances are adjusted back within target allocations. We employ a broadly diversified investment manager structure that includes diversification by active and passive management, style, capitalization, country, sector, industry, and number of investment managers. With the exception of certain cash investment vehicles, no individual investment represented more than 5% of the plan assets as of December 31, 2025.

The fair value measurement of plan assets using significant unobservable inputs (Level 3) changed due to the following:


(dollars in millions)
Balance, December 31, 2023	$	1,467
Realized losses	(136)
Unrealized gains relating to instruments still held in the reporting period	27
Purchases, sales, and settlements, net	123

Balance, December 31, 2024	1,481

Realized gains	4
Unrealized (losses) relating to instruments still held in the reporting period	(66)
Purchases, sales, and settlements, net	(170)

Balance, December 31, 2025	$	1,249

Quoted market prices are used to value investments when available. Investments in securities traded on exchanges, including listed futures and options, are valued at the last reported sale prices on the last business day of the year or, if not available, the last reported bid prices. Fixed income securities are primarily measured using a market approach pricing methodology, where observable prices are obtained by market transactions involving identical or comparable securities of issuers with similar credit ratings. Mortgages have been valued on the basis of their future principal and interest payments discounted at prevailing interest rates for similar investments. Investment contracts are valued at fair value by discounting the related cash flows based on current yields of similar instruments with comparable durations. Real estate investments are valued on a quarterly basis using discounted cash flow models which consider long-term lease estimates, future rental receipts, and estimated residual values. Valuation estimates are supplemented by third-party appraisals on an annual basis.

The fair market value of assets related to our PRB benefits was $0.3 billion as of December 31, 2025 and 2024, respectively. The assets are primarily invested in mutual funds held within Voluntary Employees’ Beneficiary Association (VEBA) trusts and are valued using quoted prices in active markets (Level 1).

We have set aside assets in separate trusts, which we expect to be used to pay for certain nonqualified defined benefit and defined contribution plan obligations in excess of qualified plan limits. These assets are included in Other assets in our Consolidated Balance Sheet. The fair value of marketable securities held in trusts as of December 31 was as follows:


(dollars in millions)	2025		2024
Marketable securities held in trusts	$	750	$	786

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 7,069	$ 5,013	$ 3,380
Pension and postretirement benefit plans adjustments
Net actuarial loss arising during period	(739)	(645)	(971)
Prior service cost arising during period	(100)	(36)	(19)
Amortization of actuarial loss and prior service credit	(142)	(174)	(568)
Other	189	8	(51)
Pension and postretirement benefit plans adjustments	(792)	(847)	(1,609)
Change in unrealized cash flow hedging	284	(228)	358
Foreign currency translation adjustments	1,436	(506)	562
Other comprehensive income (loss), before tax	928	(1,581)	(689)
Income tax benefit related to items of other comprehensive income	109	245	288
Other comprehensive income (loss), net of tax	1,037	(1,336)	(401)
Comprehensive income	8,106	3,677	2,979
Less: Comprehensive income attributable to noncontrolling interest	337	239	185
Comprehensive income attributable to common shareowners	$ 7,769	$ 3,438	$ 2,794

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share


(dollars in millions, except per share amounts; shares in millions)	2025		2024		2023



Net income attributable to common shareowners	$	6,732	$	4,774	$	3,195
Basic weighted average number of shares outstanding	1,341.4		1,332.1		1,426.0
Stock awards and equity units (share equivalent)	15.0		11.5		9.4
Diluted weighted average number of shares outstanding	1,356.4		1,343.6		1,435.4
Earnings Per Share attributable to common shareowners:
Basic	$	5.02	$	3.58	$	2.24



Diluted	4.96		3.55		2.23

Contract Assets and Liabilities

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Contract Assets and Liabilities

NOTE 6: CONTRACT ASSETS AND LIABILITIES

Contract assets reflect revenue recognized and performance obligations satisfied in advance of customer billings. Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. We receive payments from customers based on the terms established in our contracts. Total contract assets and contract liabilities as of December 31, 2025 and 2024 were as follows:


(dollars in millions)	2025		2024
Contract assets, net	$	17,092	$	14,570
Contract liabilities	(21,615)		(18,616)
Net contract liabilities	$	(4,523)	$	(4,046)

Contract assets, net increased $2.5 billion during 2025 primarily due to sales in excess of billings on certain contracts at Pratt & Whitney, partially offset by an increase in the allowance for expected credit losses due to a customer bankruptcy recorded at Pratt & Whitney in the second quarter of 2025. Contract liabilities increased $3.0 billion during 2025 primarily due to billings in excess of sales on certain contracts at Pratt & Whitney and Raytheon.

In 2025, 2024, and 2023, we recognized revenue of $8.1 billion, $7.2 billion, and $5.3 billion related to our Contract liabilities at January 1, 2025, January 1, 2024, and January 1, 2023, respectively.

Contract assets, net consisted of the following at December 31:


(dollars in millions)	2025		2024
Revenue recognized in advance of customer billings	$	35,023	$	30,226
Progress payments	(17,931)		(15,656)
Total contract assets, net	$	17,092	$	14,570

For U.S. government contracts that provide progress payments, the U.S. government has title to the asset related to unbilled amounts.

The changes in the allowance for expected credit losses related to contract assets were as follows:


(dollars in millions)	2025		2024		2023
Balance as of January 1	$	491	$	197	$	319
Current period provision, changes in estimates, and recoveries, net	185		294		210
Write-offs and other	—		—		(332)

Balance as of December 31	$	676	$	491	$	197

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Borrowings and Lines of Credit

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Borrowings and Lines of Credit

NOTE 9: BORROWINGS AND LINES OF CREDIT

As of December 31, 2025, we had a revolving credit agreement with various banks permitting aggregate borrowings of up to $5.0 billion, which expires in August 2028. As of December 31, 2025, there were no borrowings outstanding under this agreement. In addition, at December 31, 2025, approximately $0.6 billion was available under short-term lines of credit primarily with global banks at our international subsidiaries.

From time to time, we use commercial paper borrowings for general corporate purposes, including the funding of potential acquisitions, pension contributions, debt refinancing, dividend payments, and repurchases of our common stock. The commercial paper notes have original maturities of not more than 364 days from the date of issuance. As of December 31, 2025, our maximum commercial paper borrowing limit was $5.0 billion as the commercial paper is backed by our $5.0 billion revolving credit agreement. At December 31, 2025 and 2024, we had no commercial paper borrowings outstanding. During 2025 and 2024, we had no new borrowings or repayments of commercial paper with maturities greater than 90 days. During 2023, we had no new borrowings, and $0.2 billion of repayments of commercial paper with maturities greater than 90 days.

On October 24, 2023, we entered into a senior unsecured bridge credit agreement (Bridge Loan) with various banks permitting aggregate borrowings of up to $10.0 billion, to fund an accelerated share repurchase (ASR) and pay related fees and expenses. The $10.0 billion Bridge Loan was paid in full and terminated in the fourth quarter of 2023 upon receipt of proceeds from the $4.0 billion term loan facilities, the $6.0 billion of long-term debt issuances, and cash on hand.

During 2025 and 2024, we made the following repayments of long-term debt:


Date	Description of Notes	Aggregate Principal Balance (in millions)
December 17, 2025	3 Month SOFR plus 1.225% Term Loan due 2026	$	1,100
August 18, 2025	3.950% notes due 2025	1,500
May 7, 2025	3 Month SOFR plus 1.225% term loan due 2025	750
December 24, 2024	3 Month SOFR plus 1.225% term loan due 2025	500
December 15, 2024	3.150% notes due 2024	300
May 7, 2024	3 Month SOFR plus 1.225% term loan due 2025	250
April 17, 2024	3 Month SOFR plus 1.225% term loan due 2025	250
April 4, 2024	3 Month SOFR plus 1.225% term loan due 2025	250
March 15, 2024	3.200% notes due 2024	950

Long-term debt consisted of the following as of December 31:


(dollars in millions)	2025		2024




3 Month SOFR plus 1.225% term loan due 2025	$	—	$	750
3.950% notes due 2025 (1)	—		1,500
5.000% notes due 2026 (1)	500		500
2.650% notes due 2026 (1)	719		719
3 Month SOFR plus 1.225% term loan due 2026	900		2,000
5.750% notes due 2026 (1)	1,250		1,250
3.125% notes due 2027 (1)	1,100		1,100
3.500% notes due 2027 (1)	1,300		1,300
7.200% notes due 2027 (1)	382		382
7.100% notes due 2027	135		135
6.700% notes due 2028	285		285
7.000% notes due 2028 (1)	185		185
4.125% notes due 2028 (1)	3,000		3,000
5.750% notes due 2029 (1)	500		500
7.500% notes due 2029 (1)	414		414
2.150% notes due 2030 (€500 million principal value) (1)	587		520
2.250% notes due 2030 (1)	1,000		1,000
6.000% notes due 2031 (1)	1,000		1,000
1.900% notes due 2031 (1)	1,000		1,000
2.375% notes due 2032 (1)	1,000		1,000
5.150% notes due 2033 (1)	1,250		1,250
6.100% notes due 2034 (1)	1,500		1,500
5.400% notes due 2035 (1)	446		446


(dollars in millions)	2025		2024
6.050% notes due 2036 (1)	410		410
6.800% notes due 2036 (1)	117		117
7.000% notes due 2038	148		148
6.125% notes due 2038 (1)	575		575
4.450% notes due 2038 (1)	750		750
5.700% notes due 2040 (1)	553		553
4.875% notes due 2040 (1)	600		600
4.700% notes due 2041 (1)	425		425
4.500% notes due 2042 (1)	3,500		3,500
4.800% notes due 2043 (1)	400		400
4.200% notes due 2044 (1)	300		300
4.150% notes due 2045 (1)	850		850
3.750% notes due 2046 (1)	1,100		1,100
4.050% notes due 2047 (1)	600		600
4.350% notes due 2047 (1)	1,000		1,000
4.625% notes due 2048 (1)	1,750		1,750
3.125% notes due 2050 (1)	1,000		1,000
2.820% notes due 2051 (1)	1,000		1,000
3.030% notes due 2052 (1)	1,100		1,100
5.375% notes due 2053 (1)	1,250		1,250
6.400% notes due 2054 (1)	1,750		1,750
Other (including finance leases)	146		232
Total principal long-term debt	37,777		41,146
Other (fair market value adjustments, (discounts)/premiums, and debt issuance costs)	(77)		(68)
Total long-term debt	37,700		41,078
Less: current portion	3,412		2,352
Long-term debt, net of current portion	$	34,288	$	38,726

(1) We may redeem these notes, in whole or in part, at our option pursuant to their terms prior to the applicable maturity date.

The weighted-average interest rate related to total debt was 4.5% at December 31, 2025 and 2024.

The average maturity of our long-term debt at December 31, 2025 is approximately 12 years. The schedule of principal payments required on long-term debt for the next five years and thereafter is:


(in millions)
2026	$	3,412
2027	2,928
2028	3,490
2029	922
2030	1,593
Thereafter	25,432
Total	$	37,777

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Employee Benefit Plans (Amounts Recognized in Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Current year prior service cost		$ 100	$ 36	$ 19
Other		(189)	(8)	51
Total recognized in other comprehensive loss		792	847	$ 1,609
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss arising during the period		698	642
Amortization of actuarial loss	$ (300)	(21)	(20)
Current year prior service cost		100	36
Amortization of prior service credit		140	170
Net settlement and curtailment		(275)	(12)
Other		85	1
Total recognized in other comprehensive loss		727	817
Net recognized in net periodic pension income and other comprehensive loss		$ (287)	$ (493)

Commitments and Contingencies

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 17: COMMITMENTS AND CONTINGENCIES

Except as otherwise noted, while we are unable to predict the final outcome, based on information currently available, we do not believe that resolution of any of the following matters will have a material adverse effect upon our competitive position, results of operations, financial condition, or liquidity.

Environmental. Our operations are subject to environmental regulation by federal, state, and local authorities in the United States and regulatory authorities with jurisdiction over our foreign operations. We have accrued for the costs of environmental remediation activities, including but not limited to investigatory, remediation, operating and maintenance costs, and performance guarantees, and periodically reassess these amounts. We do not expect any additional liability to have a material adverse effect on our results of operations, financial condition, or liquidity. As of both December 31, 2025 and 2024, we had $0.8 billion reserved for environmental remediation. Additional information pertaining to environmental matters is included in “Note 1: Basis of Presentation and Summary of Accounting Principles.”

Commercial Aerospace Financing and Other Commitments. We had commercial aerospace financing commitments and other contractual commitments of approximately $13 billion and $14 billion as of December 31, 2025 and 2024, respectively, on a gross basis before reduction for our collaboration partners’ share. Aircraft financing commitments, in the form of debt or

lease financing, are provided to certain commercial aerospace customers. The extent to which the financing commitments will be utilized is not currently known, since customers may be able to obtain more favorable terms from other financing sources. We may also arrange for third-party investors to assume a portion of these commitments. The majority of financing commitments are collateralized arrangements. We may also pay deposits on behalf of our customers to secure production slots with the airframers (pre-delivery payments). Our financing commitments with customers are contingent upon maintenance of certain levels of financial condition by our customers. Associated risks on these commitments are mitigated due to the fact that interest rates are variable during the commitment term and are set at the date of funding based on current market conditions, the fair value of the underlying collateral, and the creditworthiness of our customers. As a result, the fair value of these financing commitments is expected to equal the amounts funded.

We also have other contractual commitments to make payments to secure certain contractual rights to provide product on new aircraft platforms. The estimated amount and timing of these payments, which are generally based on future sales or engine flight hours, are reflected in “Other commercial aerospace commitments” in the table below. Payments made on these contractual commitments are included within intangible assets as exclusivity assets and are amortized over the term of underlying economic benefit. We have entered into certain collaboration arrangements, which may include participation by our collaboration partners in these commitments. In addition, in connection with our 2012 agreement to acquire Rolls-Royce’s ownership and collaboration interests in IAE, additional payments are due to Rolls-Royce contingent upon each hour flown through June 2027 by the V2500-powered aircraft in service as of the acquisition date. These flight hour payments, which are considered in “Other commercial aerospace commitments” below, will be capitalized as collaboration intangible assets as payments are made.

The following is the expected maturity of our commercial aerospace industry commitments as of December 31, 2025:


(dollars in millions)	Committed		2026		2027		2028		2029		2030		Thereafter
Commercial aerospace financing commitments	$	3,874	$	1,687	$	1,357	$	830	$	—	$	—	$	—
Other commercial aerospace commitments	9,242		752		628		660		645		511		6,046
Collaboration partners’ share	(5,325)		(1,018)		(854)		(655)		(273)		(215)		(2,310)
Total commercial aerospace commitments	$	7,791	$	1,421	$	1,131	$	835	$	372	$	296	$	3,736

Other Financing Arrangements. We have entered into standby letters of credit and surety bonds with financial institutions to meet various bid, performance, warranty, retention, guarantee, and advance payment obligations for us or our affiliates. We enter into these agreements to assist certain affiliates in obtaining financing on more favorable terms, making bids on contracts and performing their contractual and other obligations. The stated values of these letters of credit agreements and surety bonds totaled $4.2 billion as of December 31, 2025.

Offset / Industrial Participation Obligations. We have entered into industrial cooperation agreements, sometimes in the form of either offset agreements or ICIP agreements, as a condition to obtaining orders for our products and services from certain customers in foreign countries. At December 31, 2025, the aggregate amount of these agreements, both agreed to and anticipated to be agreed to, had an outstanding notional value of approximately $13 billion. These agreements are designed to return economic value to the foreign country by requiring us to engage in activities supporting local defense or commercial industries, promoting a balance of trade, developing in-country technology capabilities, or addressing other local development priorities. Offset agreements may be satisfied through activities that do not require a direct cash payment, including transferring technology, providing manufacturing, training, and other consulting support to in-country projects, and the purchase by third parties (e.g., our vendors) of supplies from in-country vendors. These agreements may also be satisfied through our use of cash for activities such as subcontracting with local partners, purchasing supplies from in-country vendors, providing financial support for in-country projects, and making investments in local ventures. Such activities may also vary by country depending upon requirements as dictated by their governments. We typically do not commit to offset agreements until orders for our products or services are definitive. The amounts ultimately applied against our offset agreements are based on negotiations with the customers and typically require cash outlays that represent only a fraction of the notional value in the offset agreements. Offset programs usually extend over several or more years and may provide for penalties in the event we fail to perform in accordance with offset requirements. Historically, we have not been required to pay any penalties of significance.

Government Oversight. In the ordinary course of business, the Company and its subsidiaries and our properties are subject to regulatory and governmental examinations, information gathering requests, inquiries, investigations, and threatened legal actions and proceedings. For example, we are now, and believe that, in light of the current U.S. government contracting and overall enforcement environment, we will continue to be the subject of one or more U.S. government investigations. Our contracts with the U.S. government are also subject to audits. Agencies that oversee contract performance include: the Defense

Contract Audit Agency (DCAA), the Defense Contract Management Agency (DCMA), the Inspectors General of the U.S. Department of War (DoW) (formerly referred to as the U.S. Department of Defense), and other departments and agencies, the Government Accountability Office (GAO), the Department of Justice (DOJ), and Congressional Committees. Other areas of our business operations may also be subject to audit and investigation by these and other agencies. From time to time, agencies investigate or conduct audits to determine whether our operations are being conducted in accordance with applicable requirements. Such investigations and audits may be initiated due to a number of reasons, including as a result of a whistleblower complaint. Such investigations and audits could result in administrative, civil, or criminal liabilities, including the imposition of repayment obligations, fines, treble or other damages, forfeitures, disgorgement, restitution, or penalties, the suspension of government export licenses, and/or suspension or debarment from future U.S. government contracting. They could also result in deferred prosecution agreements, administrative orders, consent agreements, guilty plea agreements, and/or imposition of an independent compliance monitor. U.S. government investigations often take years to complete. In particular, in 2024 the Company entered into a deferred prosecution agreement (DPA) (DPA-1) with the DOJ and the Company settled an administrative proceeding with the Securities and Exchange Commission (SEC) (the SEC Administrative Order) to resolve the previously disclosed criminal and civil government investigations into payments made by Raytheon Company and its joint venture, Thales-Raytheon Systems (TRS), in connection with certain Middle East contracts since 2012 (Thales-Raytheon Systems and Related Matters). The Company also entered into a DPA (DPA-2) and a False Claims Act (FCA) settlement agreement with the DOJ to resolve previously disclosed criminal and civil government investigations into defective pricing claims for certain legacy Raytheon Company contracts entered into between 2011 and 2013 and in 2017 (DOJ Investigation and Contract Pricing Disputes).

Under these DPAs and the SEC Administrative Order, Raytheon Company and the Company are required to undertake certain cooperation and disclosure obligations (for a term commencing on the effective date of DPA-1 and the SEC Administrative Order, as applicable, and ending three years from the date on which Raytheon Company and the Company engage an independent compliance monitor satisfactory to the DOJ and SEC). A single independent compliance monitor was selected to oversee Raytheon Company’s and the Company’s compliance with their respective obligations under the DPAs and the SEC Administrative Order, and that monitor is expected to be in place by the end of the first quarter. In 2024, the Company also resolved certain voluntarily disclosed export controls violations primarily identified in connection with the integration of Rockwell Collins and, to a lesser extent, Raytheon Company, including certain violations that were resolved pursuant to a Consent Agreement (CA) with the Department of State (DOS). The CA, which has a three-year term, requires the Company to implement remedial compliance measures and to conduct an external audit of the Company’s International Traffic in Arms Regulations (ITAR) compliance program. The CA also requires appointment of an external, independent Special Compliance Officer (SCO). The Company appointed its SCO on September 27, 2024. As noted above, the U.S. government reserves the right to suspend or debar a contractor from receiving new government contracts for fraudulent, criminal, or other seriously improper conduct. The U.S. government could also void any contracts found to be tainted by fraud. Like many defense contractors, we have received audit reports recommending the reduction of certain contract prices because, for example, cost or pricing data or cost accounting practices used to price and negotiate those contracts may not have conformed to government regulations. Some of these audit reports recommend that certain payments be repaid, delayed, or withheld, and may involve substantial amounts. We have made voluntary refunds in those cases we believe appropriate, have settled some allegations and, in some cases, continue to negotiate and/or litigate. The Company may be, and in some cases has been, required to make payments into escrow of disputed liabilities while the related litigation is pending. If the litigation is resolved in the Company’s favor, any such payments will be returned to the Company with interest. Our final allowable incurred costs for each year are also subject to audit and have, from time to time, resulted in disputes between us and the U.S. government, with litigation resulting at the Court of Federal Claims (COFC) or the Armed Services Board of Contract Appeals (ASBCA), or their related courts of appeals. In addition, the DOJ has, from time to time, convened grand juries to investigate possible irregularities by us. We also provide products and services to customers outside of the U.S., and those sales are subject to local government laws, regulations, and procurement policies and practices. Our compliance with such local government regulations or any applicable U.S. government regulations (e.g., Arms Export Control Act (AECA), Export Administration Regulations (EAR), Foreign Corrupt Practices Act (FCPA), and ITAR) may also be investigated or audited. In addition, we accrue for liabilities associated with those matters that are probable and can be reasonably estimated. The most likely liability amount to be incurred is accrued based upon a range of estimates. Where no amount within a range of estimates is more likely, then we accrue the minimum amount. Other than as specifically disclosed in this Form 10-K, we do not expect these audits, investigations or disputes to have a material effect on our results of operations, financial condition, or liquidity, either individually or in the aggregate.

Pratt & Whitney Powder Metal Matter. In 2023, Pratt & Whitney determined that a rare condition in powder metal used to manufacture certain engine parts requires accelerated inspection of the PW1100 GTF fleet, which powers the A320neo. This determination was made pursuant to Pratt & Whitney’s safety management system.

On August 4, 2023, Pratt & Whitney issued a special instruction (SI) to operators of PW1100 GTF powered A320neo aircraft, which required accelerated inspections and engine removals covering an initial subset of operational engines, no later than

September 15, 2023. During the third quarter of 2023, through its safety management system, Pratt & Whitney continued its engineering and industrial assessment, which resulted in an updated fleet management plan for the remaining PW1100 fleet. This updated plan requires a combination of part inspections and retirements for some high pressure turbine and high pressure compressor parts made from affected raw material. Guidance to affected operators was released via service bulletins (SB) and SI in November 2023, and this guidance has been reflected in airworthiness directives issued by the Federal Aviation Administration (FAA). Consistent with previous information, the actions are resulting in significant incremental shop visits.

As a result of this matter, Pratt & Whitney expects aircraft on ground levels for the PW1100 powered A320neo fleet to remain elevated through 2026. As a result of anticipated increased aircraft on ground levels and expected compensation to customers for this disruption, as well as incremental maintenance costs resulting from increased inspections and shop visits, Pratt & Whitney recorded a pre-tax operating profit charge in the third quarter of 2023 of $2.9 billion, reflecting Pratt & Whitney’s net 51% program share of the PW1100 program. This amount reflected our best estimate of expected customer compensation for the estimated duration of the disruption as well as the EAC adjustment impact of this matter to Pratt & Whitney’s long-term maintenance contracts. The incremental costs to the business’s long-term maintenance contracts include the estimated cost of additional inspections, replacement of parts, and other related impacts.

The charge recorded in the third quarter of 2023 resulted in a net increase in Other accrued liabilities of $2.8 billion, which principally related to our 51% share of an accrual for expected customer compensation. At December 31, 2025 and 2024, we had other accrued liabilities of $0.7 billion and $1.7 billion, respectively, related to expected compensation to customers. The decrease in the accrual in 2025 and 2024 was primarily due to customer compensation in the form of credits issued and cash paid to customers during the period.

Other engine models within Pratt & Whitney’s fleet contain parts manufactured with affected powder metal, but we do not currently believe there will be any resultant significant financial impact with respect to these other engine models at this time. The financial impact of the powder metal issue is based on historical experience and is subject to various assumptions and judgments, most notably, the number and expected timing of shop visits, inspection results and scope of work to be performed, turnaround time, availability of parts, available capacity at overhaul facilities, and outcomes of negotiations with impacted customers. While these assumptions reflect our best estimates at this time, they are subject to variability. Potential changes to these assumptions and actual incurred costs could significantly affect the estimates inherent in our financial statements and could have a material effect on the Company’s results of operations for the periods in which they are recognized.

Legal Proceedings. The Company and its subsidiaries are subject to various contract pricing disputes, government investigations, and litigation matters across jurisdictions, updates to certain of which are set forth below.

Cost Accounting Standards Claims

As previously disclosed, in April 2019, a Divisional Administrative Contracting Officer (DACO) of the United States DCMA asserted a claim against Pratt & Whitney to recover alleged overpayments of approximately $1.7 billion plus interest ($1.5 billion at December 31, 2025). The claim is based on Pratt & Whitney’s alleged noncompliance with Cost Accounting Standards (CAS) from January 1, 2007 to March 31, 2019, due to its method of allocating independent research and development costs to government contracts. Pratt & Whitney believes that the claim is without merit and filed an appeal to the ASBCA on June 7, 2019. On September 30, 2024, a DCMA DACO issued a second claim against Pratt & Whitney that similarly alleges that Pratt & Whitney was noncompliant with CAS due to its method of allocating independent research and development costs to government contracts from April 1, 2019 to December 31, 2023. The second claim demands payment of $1.1 billion plus interest ($410 million at December 31, 2025). Pratt & Whitney believes the second claim is without merit and filed an appeal to the ASBCA on October 15, 2024.

As previously disclosed, in December 2013, a DCMA DACO asserted a claim against Pratt & Whitney to recover alleged overpayments of approximately $177 million plus interest ($209 million at December 31, 2025). The claim is based on Pratt & Whitney’s alleged noncompliance with CAS from January 1, 2005 to December 31, 2012, due to its method of determining the cost of collaborator parts used in the calculation of material overhead costs for government contracts. In 2014, Pratt & Whitney filed an appeal to the ASBCA. An evidentiary hearing was held and completed in June 2019. On November 22, 2021, the ASBCA issued its written decision sustaining in part and denying in part Pratt & Whitney’s appeal. The ASBCA rejected the DCMA’s asserted measure of the cost of collaborator parts, and ruled substantially in Pratt & Whitney’s favor on other liability issues. The ASBCA remanded the appeal to the parties for resolution of damages issues, which could require further proceedings at the ASBCA. On December 23, 2021, the DCMA filed a motion with the ASBCA seeking partial reconsideration of the November 22, 2021 decision. The motion for reconsideration was denied on August 29, 2022. On December 23, 2022, the government filed an appeal to the United States Court of Appeals for the Federal Circuit (CAFC). On December 5, 2025, the CAFC issued an opinion which dismissed in part the government’s appeal for lack of jurisdiction, reversed in part the ASBCA’s November 22, 2021 decision with respect to the enforceability of a provision within a 2006 agreement between DCMA and Pratt & Whitney, and remanded the case to the ASBCA for further proceedings. We continue to believe that the

ASBCA’s rejection of the DCMA’s asserted measure of the cost of collaborator parts is well supported in fact and law. In December 2018, a DCMA DACO issued a second claim against Pratt & Whitney that similarly alleges that its method of determining the cost of collaborator parts does not comply with the CAS for calendar years 2013 through 2017. This second claim, which asserts the same measure of the cost of collaborator parts rejected by the ASBCA’s November 22, 2021 decision, demands payment of $269 million plus interest ($187 million at December 31, 2025). Pratt & Whitney appealed this second claim to the ASBCA in January 2019. In December 2023, a DCMA DACO issued a third claim against Pratt & Whitney that similarly alleges that its method of determining the cost of collaborator parts does not comply with the CAS for calendar years 2018 through 2022. This third claim, which asserts the same measure of the cost of collaborator parts rejected by the ASBCA’s prior decision, demands payment of $277 million plus interest ($105 million at December 31, 2025). Pratt & Whitney appealed this third claim to the ASBCA at the end of December 2023. Although subject to further litigation at the ASBCA and potentially further appellate proceedings, we continue to believe that the November 22, 2021 decision in the first claim will apply with equal legal effect to the second and third claims. Accordingly, we believe that the amounts demanded by the DCMA as set forth in the three claims are without legal basis and that any damages owed to the U.S. government for the three claims will not have a material adverse effect on our results of operations, financial condition, or liquidity.

Thales-Raytheon Systems and Related Matters

As previously disclosed, on October 15, 2024, Raytheon Company entered into DPA-1 with the DOJ and on October 16, 2024, the Company became subject to an administrative order issued by the SEC (the SEC Administrative Order) to resolve the previously disclosed criminal and civil government investigations into payments made by Raytheon Company and its joint venture, TRS, since 2012 in connection with certain Middle East contracts. Pursuant to DPA-1, among other terms, the DOJ will defer, for a period of three years, criminal prosecution of Raytheon Company related to one count of conspiracy to violate the anti-bribery provisions of the FCPA and one count of conspiracy to violate the AECA by failing to make related disclosures of certain payments that qualified as fees, commissions and/or political contributions under Part 130 of ITAR. If Raytheon Company and the Company fully comply with all of their respective obligations under DPA-1 during its three-year term (commencing on the effective date of DPA-1 and ending three years from the date on which the monitor is engaged), the DOJ will move for dismissal with prejudice of the deferred charges against Raytheon Company. Under DPA-1, the SEC Administrative Order, and DPA-2 discussed in “DOJ Investigation and Contract Pricing Disputes” below, Raytheon Company and the Company are required to undertake certain cooperation and disclosure obligations (for a term commencing on the effective date of DPA-1 and the SEC Administrative Order, as applicable, and ending three years from the date on which Raytheon Company and the Company engage an independent compliance monitor satisfactory to the DOJ and SEC). A single independent compliance monitor was selected to oversee Raytheon Company’s and the Company’s compliance with their respective obligations under DPA-1, the SEC Administrative Order, and DPA-2 discussed in “DOJ Investigation and Contract Pricing Disputes” below, and that monitor is expected to be in place by the end of the first quarter. During the fourth quarter of 2024, the Company paid $384 million in the aggregate for DPA-1 and the SEC Administrative Order which was consistent with amounts accrued. The Company does not believe that these matters will have a material adverse effect on our results of operations, financial condition, or liquidity.

DOJ Investigation and Contract Pricing Disputes

As previously disclosed, on October 16, 2024, Raytheon Company entered into DPA-2 and a FCA settlement agreement with the DOJ to resolve previously disclosed criminal and civil government investigations into defective pricing claims for certain legacy Raytheon Company contracts entered into between 2011 and 2013 and in 2017. Pursuant to DPA-2, among other terms, the DOJ will defer, for a period of three years, criminal prosecution of Raytheon Company related to two counts of major fraud against the United States by Raytheon Company involving two legacy contracts. If Raytheon Company and the Company fully comply with all of their respective obligations in DPA-2 during its three-year term (commencing on the effective date of DPA-1 and ending three years from the date on which the monitor is engaged), the DOJ will move for dismissal with prejudice of the deferred charges against Raytheon Company. Under DPA-2 as well as DPA-1 and the SEC Administrative Order discussed in “Thales-Raytheon Systems and Related Matters” above, Raytheon Company and the Company are required to undertake certain cooperation and disclosure obligations (for a term commencing on the effective date of DPA-1 and the SEC Administrative Order, as applicable, and ending three years from the date on which Raytheon Company and the Company engage an independent compliance monitor satisfactory to the DOJ and SEC). A single independent compliance monitor was selected to oversee Raytheon Company’s and the Company’s compliance with their respective obligations under DPA-2 as well as DPA-1 and the SEC Administrative Order discussed in “Thales-Raytheon Systems and Related Matters” above, and that monitor is expected to be in place by the end of the first quarter. During the fourth quarter of 2024, the Company paid $580 million in the aggregate for DPA-2 and the FCA Settlement Agreement which was consistent with amounts accrued plus interest. The Company does not believe that these matters will have a material adverse effect on our results of operations, financial condition, or liquidity.

Trade Compliance Matters

From time to time, we identify, investigate, remediate, and voluntarily disclose violations or potential violations of the ITAR and EAR to the relevant regulators. In May 2024, the DOS Office of Defense Trade Controls Compliance (DTCC) informed the Company of its intent to seek administrative penalties for alleged violations of the AECA and the ITAR. The DTCC informed us that it considers certain of our voluntary disclosures, primarily identified in connection with the integration of Rockwell Collins and, to a lesser extent, Raytheon Company, filed since 2019 to reflect deficiencies warranting a civil penalty. On August 29, 2024, the Company entered into a CA with the DOS to resolve these matters. The CA settles certain AECA and ITAR compliance matters with the DTCC and the Directorate of Defense Trade Controls. The CA has a three-year term and provides for: (i) a civil penalty of $200 million, $100 million of which is suspended on the condition that such amount is applied to DTCC-approved remedial compliance measures; (ii) the appointment of an external Special Compliance Officer (SCO) to oversee compliance with the CA, the AECA, and the ITAR; (iii) an external audit of the Company’s AECA and ITAR compliance program; and (iv) implementation of additional remedial compliance measures related to AECA and ITAR compliance. The $100 million portion of the settlement that is not subject to suspension, which was accrued by the Company in the second quarter of 2024, will be paid in installments, with $34 million paid in September 2024, $33 million paid in August 2025, and $33 million due by August 29, 2026. As previously disclosed, the Company has determined that there is a probable risk of liability for potential penalties related to other export compliance matters which have been voluntarily disclosed to the cognizant regulators, but which are not subject to the CA. We have accrued $218 million in the aggregate as of December 31, 2025 for these matters and the matters being resolved pursuant to the CA. We are currently unable to estimate the timing or outcome of the other voluntarily disclosed export compliance matters that are not subject to the CA. However, the Company does not believe these matters will have a material adverse effect on our results of operations, financial condition, or liquidity.

Powder Metal Disclosure Litigation and SEC Investigation

Following the Company’s disclosures of a rare condition in powder metal used to manufacture certain Pratt & Whitney engine parts, two sets of civil actions were filed against RTX. First, two putative federal securities class action lawsuits were filed in the United States District Court for the District of Connecticut against the Company and certain current and former executives of the Company. The lawsuits allege that defendants violated federal securities laws by making material misstatements and omitting material facts relating to Pratt & Whitney’s GTF engine fleet, including the impact of the powder metal issue on the fleet, in various regulatory filings. The lawsuits were consolidated, and on September 12, 2025, the Court granted the defendants’ motion to dismiss the consolidated case. On October 14, 2025, plaintiffs filed a Notice of Appeal to the United States Court of Appeals for the Second Circuit. Second, multiple shareholder derivative lawsuits have been filed against current and former officers and directors of the Company in the United States District Court for the District of Delaware. The complaints in these actions allege that the defendants caused the Company to make materially false and misleading statements relating to Pratt & Whitney’s GTF engines, and failed to maintain an adequate system of oversight, disclosure controls and procedures, and internal controls over financial reporting. Based on the information available to date, we do not believe that either matter will have a material adverse effect on our results of operations, financial condition, or liquidity.

The Company has received subpoenas from the SEC seeking engineering, operational, organizational, accounting, and financial documents and witness testimony in connection with an investigation relating to the Company’s disclosures in 2023 of issues arising from Pratt & Whitney’s use of powder metal in manufacturing various engine parts, its identification of certain risks associated with those manufacturing processes, and corrective actions identified by Pratt & Whitney to mitigate those risks. The Company is continuing to cooperate with the SEC’s ongoing investigation. At this time, we are unable to predict the timing or outcome of this SEC investigation.

Where appropriate, we have recorded loss contingency accruals for the above-referenced matters. Unless noted above, loss contingency accruals are immaterial individually or in the aggregate.

Other. As described in “Note 16: Guarantees,” we extend performance and operating cost guarantees beyond our normal warranty and service policies for extended periods on some of our products. We have accrued our estimate of the liability that may result under these guarantees and for service costs that are probable and can be reasonably estimated.

We also have other commitments and contingent liabilities related to legal proceedings, self-insurance programs, and matters arising out of the normal course of business. We accrue contingencies based upon a range of possible outcomes. If no amount within this range is a better estimate than any other, then we accrue the minimum amount.

In the ordinary course of business, the Company and its subsidiaries are also routinely defendants in, parties to, or otherwise subject to many pending and threatened legal actions, claims, disputes, and proceedings. These matters are often based on alleged violations of contract, product liability, warranty, regulatory, environmental, health and safety, employment, intellectual property, tax, and other laws. In some instances, claims for substantial monetary damages are asserted against the Company and

its subsidiaries and could result in fines, penalties, compensatory or treble damages, or non-monetary relief. We do not believe that these matters will have a material adverse effect upon our results of operations, financial condition, or liquidity.

Leases (Lease Payments Related to Operating Leases) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
2026	$ 492
2027	419
2028	339
2029	228
2030	197
Thereafter	754
Total undiscounted lease payments	2,429
Less imputed interest	(377)
Total discounted lease payments	$ 2,052	$ 1,999

Basis of Presentation and Summary of Accounting Principles (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Basis of Presentation [Line Items]
Revenue recognized in advance of customer billings	$ 374			$ 411	$ 374
Contractual obligation	654			576	654
Contractual obligation, consumed in current year				78	81	$ 83
Contractual obligation, 2026				69
Contractual 0bligation, 2027				81
Contractual obligation, 2028				84
Contractual obligation, 2029				82
Contractual obligation, 2030				74
Contractual obligation, thereafter				186
Operating profit benefit				9,300	6,538	$ 3,561
Loss on contract termination		$ 600
Capitalized contract cost, net	$ 2,500			$ 2,700	$ 2,500
Collaborators interests existing programs low end				13.00%
Collaborators interests existing programs high end				49.00%
Partner share individual program maximum				25.00%
Remaining performance obligation, amount				$ 268,000
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Other assets, current			Other assets, current	Other assets, current
Contract cancellation
Basis of Presentation [Line Items]
Capitalized contract cost, impairment loss					$ 200
Initiating alternative titanium sources
Basis of Presentation [Line Items]
Capitalized contract cost, impairment loss					$ 100
Reserve and Contract Loss Provision Adjustments
Basis of Presentation [Line Items]
Operating profit benefit	$ 100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Basis of Presentation [Line Items]
Remaining performance obligation, percent				25.00%
Remaining performance obligation, expected timing of satisfaction				12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Long-Term Commercial Aerospace Maintenance
Basis of Presentation [Line Items]
Remaining performance obligation, percent				50.00%
Remaining performance obligation, expected timing of satisfaction				20 years
Commercial Aerospace
Basis of Presentation [Line Items]
Accounts receivable, after allowance for credit loss, percent	79.00%			79.00%	79.00%
Maximum
Basis of Presentation [Line Items]
Development and aftermarket arrangements term				20 years
Progress payments percentage				90.00%
Minimum
Basis of Presentation [Line Items]
Progress payments percentage				80.00%
Collins Aerospace
Basis of Presentation [Line Items]
Charges associated with alternative titanium sources			$ 175

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes

The sources of income before income taxes are:


(dollars in millions)	2025		2024		2023
United States (1)	$	5,126	$	3,016	$	938
Foreign	3,607		3,178		2,898
Income before income taxes	$	8,733	$	6,194	$	3,836

(1) 2023 includes the impacts of the Powder Metal Matter.

Schedule of Income Tax Expense

The income tax expense for the years ended December 31 are as follows:


(dollars in millions)	2025		2024		2023
Current:
United States:
Federal	$	59	$	443	$	213
State	99		179		70
Foreign	717		606		575
	875		1,228		858
Future:
United States:
Federal	706		(13)		(411)
State	71		71		(53)
Foreign	12		(105)		62
	789		(47)		(402)
Income tax expense	$	1,664	$	1,181	$	456

Schedule of Effective Income Tax Rate Reconciliation

Differences between effective income tax rates and the statutory U.S. federal income tax rate are as follows:


	2025
(dollars in millions)	Amount		Rate

Statutory U.S. Federal Income Tax Rate	$	1,834	21.0	%
State and Local Income Tax, net of federal income tax effect (1)	168		1.9
Foreign Tax Effects	(17)		(0.2)

Effect of Cross-Border Tax Laws	96		1.1
U.S. Federal Research and development tax credit	(182)		(2.1)

Nontaxable or Nondeductible Items	51		0.6
Worldwide Changes in Prior Year Unrecognized Tax Benefits(2)	(83)		(0.9)
Other (3)	(203)		(2.3)





Effective income tax rate	$	1,664	19.1	%

(1) State and local taxes include current and deferred income taxes exclusive of changes in prior year uncertain tax positions.

(2) Includes Federal, State, and Foreign income tax effects related to prior year uncertain tax positions.

(3) Includes Federal income tax benefits related to legal entity reorganizations.


	2024					2023
(dollars in millions)		Amount		Rate			Amount		Rate
Statutory U.S. federal income tax rate		$	1,301	21.0	%		$	805	21.0	%
Tax on international activities		6		0.1			(27)		(0.7)

Disposals of businesses		126		2.0			—		—
U.S. research and development credit		(188)		(3.0)			(168)		(4.4)
U.S. federal audit settlements and statute lapse		(277)		(4.5)			(59)		(1.5)
State income tax, net		187		3.0			17		0.4
Foreign Derived Intangible Income		(126)		(2.0)			(142)		(3.7)
Non-deductible legal charges (1)		148		2.4			5		0.1

Other		4		0.1			25		0.7
Effective income tax rate		$	1,181	19.1	%		$	456	11.9	%

(1) 2024 includes the impact of certain non-deductible legal charges related to the Resolution of Certain Legal Matters. See “Note 17: Commitments and Contingencies” for additional information.

Schedule of Income Taxes Paid (Net of Refunds)

We made net income tax payments of $1.6 billion in 2025, further disaggregated as follows:


(dollars in millions)	2025

Federal (1)	$	856
State	102







Foreign (2)	649
Total income taxes paid (net of refunds)	$	1,607

(1) Includes Internal Revenue Code Section 965 installment payments

(2) Foreign payments are spread across various jurisdictions, none of which are individually significant

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and tax carryforwards which gave rise to future income tax benefits and payables at December 31, 2025 and 2024 are as follows:


(dollars in millions)	2025		2024
Future income tax benefits:
Insurance and employee benefits	$	865	$	897


Warranty provisions	226		221
Capitalization of research and experimental expenditures	1,839		2,208
Other basis differences	982		1,060
Powder Metal Matter	226		455
Tax loss and other carryforwards	1,094		1,055
Tax credit carryforwards	963		800
Valuation allowances	(1,431)		(1,439)
Total future income tax benefits	$	4,764	$	5,257
Future income taxes payable:
Goodwill and Intangible assets	$	5,399	$	5,675
Fixed assets	1,712		1,614
Inventory and contract balances	572		193
Other basis differences	629		627
Total future income tax payable	$	8,312	$	8,109

Summary of Valuation Allowances

Changes to valuation allowances consisted of the following:


(dollars in millions)	2025		2024		2023
Balance at January 1	$	1,439	$	1,465	$	842
Additions charged to income tax expense	68		228		170
Reductions credited to income tax expense	(67)		(239)		(58)
Other adjustments (1)	(9)		(15)		511
Balance at December 31	$	1,431	$	1,439	$	1,465

(1) 2023 includes the addition of the indefinite-lived tax loss carryforwards now disclosed in connection with Organisation for Economic Co-operation and Development (OECD) Pillar Two.

Summary of Tax Credit and Tax Loss and Other Carryforwards

At December 31, 2025, tax credit carryforwards, principally state and foreign, and tax loss carryforwards, principally state and foreign, were as follows:


(dollars in millions)	Tax Credit Carryforwards		Tax Loss and Other Carryforwards
Expiration period:
2026-2030	$	56	$	295
2031-2035	52		90
2036-2045	156		1,714
Indefinite	699		3,773
Total	$	963	$	5,872

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amounts of unrecognized tax benefits and interest expense related to unrecognized tax benefits for the years ended December 31, 2025, 2024, and 2023 is as follows:


(dollars in millions)	2025		2024		2023
Balance at January 1	$	1,263	$	1,442	$	1,515
Additions for tax positions related to the current year	125		84		89
Additions for tax positions of prior years	19		164		5
Reductions for tax positions of prior years	(47)		(13)		(141)
Settlements	(133)		(414)		(26)
Balance at December 31	$	1,227	$	1,263	$	1,442
Gross interest expense related to unrecognized tax benefits	$	68	$	127	$	62
Total accrued interest balance at December 31	256		255		233

Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Liabilities

Total contract assets and contract liabilities as of December 31, 2025 and 2024 were as follows:


(dollars in millions)	2025		2024
Contract assets, net	$	17,092	$	14,570
Contract liabilities	(21,615)		(18,616)
Net contract liabilities	$	(4,523)	$	(4,046)

Contract assets, net consisted of the following at December 31:


(dollars in millions)	2025		2024
Revenue recognized in advance of customer billings	$	35,023	$	30,226
Progress payments	(17,931)		(15,656)
Total contract assets, net	$	17,092	$	14,570

Schedule of Contract Assets, Allowance for Credit Loss

changes in the allowance for expected credit losses related to contract assets were as follows:


(dollars in millions)	2025		2024		2023
Balance as of January 1	$	491	$	197	$	319
Current period provision, changes in estimates, and recoveries, net	185		294		210
Write-offs and other	—		—		(332)

Balance as of December 31	$	676	$	491	$	197

Income Taxes (Valuation Allowances) (Details) - Valuation Allowance, Deferred Tax Asset - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 1,439	$ 1,465	$ 842
Additions charged to income tax expense	68	228	170
Reductions credited to income tax expense	(67)	(239)	(58)
Other adjustments	(9)	(15)	511
Ending balance	$ 1,431	$ 1,439	$ 1,465

Segment Financial Data (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Information

Segment information for the years ended December 31 are as follows:


	2025
(dollars in millions)	Net Sales		Research and Development		Other Segment Items (1)		Operating Profit (Loss)		Operating Profit (Loss) Margins
Collins Aerospace	$	30,196	$	(1,301)	$	(23,972)	$	4,923	16.3	%
Pratt & Whitney	32,916		(1,034)		(29,286)		2,596		7.9	%
Raytheon	28,043		(483)		(24,333)		3,227		11.5	%
Total segment	91,155		(2,818)		(77,591)		10,746		11.8	%
Eliminations and other (2)	(2,552)						54
Corporate expenses and other unallocated items	—						(248)
FAS/CAS operating adjustment	—						753
Acquisition accounting adjustments	—						(2,005)
Consolidated	$	88,603					$	9,300	10.5	%

(1) Includes Cost of sales, Selling, General, and Administrative expenses, and Other income (expense), net.

(2) Includes the operating results of certain smaller operations.


	2024
(dollars in millions)	Net Sales		Research and Development		Other Segment Items (1)		Operating Profit (Loss)		Operating Profit (Loss) Margins
Collins Aerospace	$	28,284	$	(1,408)	$	(22,741)	$	4,135		14.6	%
Pratt & Whitney	28,066		(1,086)		(24,965)		2,015			7.2	%
Raytheon	26,713		(452)		(23,667)		2,594			9.7	%
Total segment	83,063		(2,946)		(71,373)		8,744			10.5	%
Eliminations and other (2)	(2,325)						(48)
Corporate expenses and other unallocated items (3)	—						(933)
FAS/CAS operating adjustment	—						833
Acquisition accounting adjustments	—						(2,058)
Consolidated	$	80,738					$	6,538		8.1	%

(1) Includes Cost of sales, Selling, General, and Administrative expenses, and Other income (expense), net.

(2) Includes the operating results of certain smaller operations.


	2023
(dollars in millions)	Net Sales		Research and Development		Other Segment Items (1)		Operating Profit (Loss)		Operating Profit (Loss) Margins
Collins Aerospace	$	26,253	$	(1,317)	$	(21,111)	$	3,825		14.6	%
Pratt & Whitney (3)	18,296		(1,001)		(18,750)		(1,455)			(8.0)	%
Raytheon	26,350		(500)		(23,471)		2,379			9.0	%
Total segment	70,899		(2,818)		(63,332)		4,749			6.7	%
Eliminations and other (2)	(1,979)						(42)
Corporate expenses and other unallocated items	—						(275)
FAS/CAS operating adjustment	—						1,127
Acquisition accounting adjustments	—						(1,998)
Consolidated	$	68,920					$	3,561		5.2	%

(1) Includes Cost of sales, Selling, General, and Administrative expenses, and Other income (expense), net.

(2) Includes the operating results of certain smaller operations.

(3) Includes the impact of the Powder Metal Matter


	Total Assets				Capital Expenditures						Depreciation & Amortization
(dollars in millions)	2025		2024		2025		2024		2023		2025		2024		2023
Collins Aerospace (1)	$	71,680	$	72,372	$	793	$	786	$	628	$	873	$	841	$	724
Pratt & Whitney (1)	52,482		44,307		994		968		1,025		786		784		736
Raytheon (1)	44,795		44,936		644		771		637		542		520		544
Total segment	168,957		161,615		2,431		2,525		2,290		2,201		2,145		2,004
Corporate, eliminations, and other	2,122		1,246		196		100		125		94		80		126
Acquisition accounting adjustments											2,083		2,139		2,081

Consolidated	$	171,079	$	162,861	$	2,627	$	2,625	$	2,415	$	4,378	$	4,364	$	4,211

(1) Total assets include acquired intangible assets and the property, plant, and equipment fair value adjustment. Related amortization expense is included in Acquisition accounting adjustments.

Geographic External Sales by Origin and Long-Lived Assets


	External Net Sales						Long-Lived Assets
(dollars in millions)	2025		2024		2023		2025		2024
United States (1)	$	74,778	$	67,701	$	57,539	$	13,791	$	13,041
International
Europe	5,438		5,493		4,849		1,135		1,189
Asia Pacific	2,864		2,587		2,182		899		834
Middle East and North Africa	348		486		492		101		98
Other regions	5,175		4,471		3,858		942		927
Consolidated	$	88,603	$	80,738	$	68,920	$	16,868	$	16,089

(1) 2023 external net sales includes the reduction in sales from the Powder Metal Matter.

Disaggregation of Revenue

Segment sales disaggregated by geographic region based on customer location for the years ended December 31 are as follows:


	2025
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
United States	$	14,136	$	13,636	$	19,313	$	206	$	47,291
Europe	6,852		7,669		4,275		3		18,799
Asia Pacific	3,779		7,625		2,377		1		13,782
Middle East and North Africa	1,076		821		1,724		—		3,621
Other regions	1,742		3,165		203		—		5,110

Consolidated net sales	27,585		32,916		27,892		210		88,603
Inter-segment sales	2,611		—		151		(2,762)		—
Business segment sales	$	30,196	$	32,916	$	28,043	$	(2,552)	$	88,603


	2024
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
United States	$	13,668	$	13,025	$	19,224	$	170	$	46,087
Europe	6,634		6,376		2,962		3		15,975
Asia Pacific	3,185		5,461		2,245		2		10,893
Middle East and North Africa	840		650		1,968		—		3,458
Other regions	1,602		2,552		171		—		4,325
Consolidated net sales	25,929		28,064		26,570		175		80,738
Inter-segment sales	2,355		2		143		(2,500)		—
Business segment sales	$	28,284	$	28,066	$	26,713	$	(2,325)	$	80,738


	2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
United States	$	13,185	$	11,403	$	20,187	$	106	$	44,881
Europe	6,423		5,433		1,642		3		13,501
Asia Pacific	2,625		4,227		2,196		1		9,049
Middle East and North Africa	684		539		2,014		—		3,237
Other regions	1,377		2,095		181		—		3,653
Powder Metal Matter	—		(5,401)		—		—		(5,401)
Consolidated net sales	24,294		18,296		26,220		110		68,920
Inter-segment sales	1,959		—		130		(2,089)		—
Business segment sales	$	26,253	$	18,296	$	26,350	$	(1,979)	$	68,920

Segment sales disaggregated by type of customer for the years ended December 31 are as follows:


	2025
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Sales to the U.S. government (1)	$	7,061	$	6,778	$	19,237	$	203	$	33,279
Foreign military sales through the U.S. government	436		1,786		4,480		—		6,702
Foreign government direct commercial sales	1,230		792		4,099		2		6,123
Commercial aerospace and other commercial sales	18,858		23,560		76		5		42,499
Consolidated net sales	27,585		32,916		27,892		210		88,603
Inter-segment sales	2,611		—		151		(2,762)		—
Business segment sales	$	30,196	$	32,916	$	28,043	$	(2,552)	$	88,603

(1) Excludes foreign military sales through the U.S. government.


	2024
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Sales to the U.S. government (1)	$	6,850	$	6,086	$	19,142	$	168	$	32,246
Foreign military sales through the U.S. government	384		1,528		3,853		—		5,765
Foreign government direct commercial sales	1,242		712		3,361		2		5,317
Commercial aerospace and other commercial sales	17,453		19,738		214		5		37,410
Consolidated net sales	25,929		28,064		26,570		175		80,738
Inter-segment sales	2,355		2		143		(2,500)		—
Business segment sales	$	28,284	$	28,066	$	26,713	$	(2,325)	$	80,738

(1) Excludes foreign military sales through the U.S. government.


	2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Sales to the U.S. government (1)	$	6,357	$	5,206	$	19,965	$	100	$	31,628
Foreign military sales through the U.S. government	304		1,442		3,228		—		4,974
Foreign government direct commercial sales	1,110		515		2,620		4		4,249
Commercial aerospace and other commercial sales (2)	16,523		11,133		407		6		28,069
Consolidated net sales	24,294		18,296		26,220		110		68,920
Inter-segment sales	1,959		—		130		(2,089)		—
Business segment sales	$	26,253	$	18,296	$	26,350	$	(1,979)	$	68,920

(1) Excludes foreign military sales through the U.S. government.

(2) Includes the reduction in sales from the Powder Metal Matter.

Segment sales disaggregated by sales type for the years ended December 31 are as follows:


	2025
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Products	$	21,467	$	18,467	$	24,063	$	174	$	64,171
Services	6,118		14,449		3,829		36		24,432
Consolidated net sales	27,585		32,916		27,892		210		88,603
Inter-segment sales	2,611		—		151		(2,762)		—
Business segment sales	$	30,196	$	32,916	$	28,043	$	(2,552)	$	88,603


	2024
(dollars in millions)	Collins Aerospace		Pratt & Whitney		Raytheon		Other		Total
Products	$	20,272	$	16,316	$	22,872	$	152	$	59,612
Services	5,657		11,748		3,698		23		21,126
Consolidated net sales	25,929		28,064		26,570		175		80,738
Inter-segment sales	2,355		2		143		(2,500)		—
Business segment sales	$	28,284	$	28,066	$	26,713	$	(2,325)	$	80,738


	2023
(dollars in millions)	Collins Aerospace		Pratt & Whitney (1)		Raytheon		Other		Total
Products	$	19,034	$	8,579	$	21,847	$	111	$	49,571
Services	5,260		9,717		4,373		(1)		19,349
Consolidated net sales	24,294		18,296		26,220		110		68,920
Inter-segment sales	1,959		—		130		(2,089)		—
Business segment sales	$	26,253	$	18,296	$	26,350	$	(1,979)	$	68,920

(1) Includes the reduction in sales from the Powder Metal Matter.

Raytheon segment sales disaggregated by contract type for the years ended December 31 are as follows:


(dollars in millions)	2025		2024		2023
Fixed-price	$	16,647	$	14,515	$	13,164
Cost-type	11,245		12,055		13,056
Consolidated net sales	27,892		26,570		26,220
Inter-segment sales	151		143		130
Business segment sales	$	28,043	$	26,713	$	26,350

Equity

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Equity

NOTE 18: EQUITY

Accelerated Share Repurchases. On October 24, 2023, we entered into accelerated share repurchase (ASR) agreements with certain financial institution counterparties to repurchase shares of our common stock for an aggregate purchase price of $10 billion. The ASR agreements provided for the repurchase of our common stock based on the average of the daily volume-weighted average prices of our common stock during the term of such ASR agreements, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR agreements. Pursuant to the ASR agreements, we made aggregate payments of $10 billion on October 26, 2023, and received initial deliveries of approximately 108.4 million shares of our common stock at a price of $78.38 per share, which, on that date, represented approximately 85% of the shares expected to be repurchased. The aggregate purchase price was recorded as a reduction to Shareowners’ equity, consisting of an $8.5 billion increase in Treasury stock and a $1.5 billion decrease in Common stock. We funded the payments with borrowings under a bridge credit agreement, which was repaid with the proceeds from term loan facilities, proceeds from issuances of long-term debt in the fourth quarter of 2023, and cash on hand. See “Note 9: Borrowings and Lines of Credit” for additional information.

The shares associated with the remaining portion of the aggregate purchase price have been settled over two tranches. In July 2024, the first tranche was settled upon final delivery to us of 0.4 million shares of common stock. In September 2024, with respect to the second tranche, we owed 2.2 million shares of common stock that we elected to cash settle for $261 million. The cash payment required as a result of the second tranche settlement was due to the significant increase in the price of our common stock during the ASR term. The final average price under the ASR was $94.28 per share.

Accumulated Other Comprehensive Loss. A summary of the changes in each component of Accumulated other comprehensive loss, net of tax is provided below:


(dollars in millions)	Foreign Currency Translation (1)		Defined Benefit Pension and Postretirement Plans		Unrealized Hedging (Losses) Gains		Accumulated Other Comprehensive Loss
Balance at December 31, 2022	$	(1,005)	$	(782)	$	(231)	$	(2,018)
Other comprehensive income (loss) before reclassifications, net	562		(1,041)		278		(201)
Amounts reclassified, pre-tax	—		(568)		80		(488)
Tax benefit (expense)	3		365		(80)		288
Balance at December 31, 2023	$	(440)	$	(2,026)	$	47	$	(2,419)
Other comprehensive income (loss) before reclassifications, net	(506)		(674)		(291)		(1,471)
Amounts reclassified, pre-tax	—		(173)		63		(110)
Tax benefit (expense)	(3)		194		54		245

Balance at December 31, 2024	$	(949)	$	(2,679)	$	(127)	$	(3,755)
Other comprehensive income (loss) before reclassifications, net	1,454		(910)		278		822
Amounts reclassified, pre-tax	(18)		118		6		106
Tax benefit (expense)	5		167		(63)		109
Balance at December 31, 2025	$	492	$	(3,304)	$	94	$	(2,718)

(1) The amount of foreign currency translation recognized in Other Comprehensive Income (loss) (OCI) includes gains (losses) relating to net investment hedges, as further discussed in “Note 13: Financial Instruments”.

Amounts reclassified that relate to our defined benefit pension and postretirement plans include the amortization of prior service costs and actuarial net gains or losses recognized during each period presented. During the fourth quarter of 2025, an actuarial loss of $0.3 billion ($0.2 billion after tax) was recognized in connection with a settlement resulting from the annuity buy-out conversion. These costs are recorded as components of net periodic benefit (income) expense for each period presented. See “Note 10: Employee Benefit Plans” for additional details.

- Definition

The entire disclosure for equity.

+ References

+ Details

Employee Benefit Plans (Expected Benefit Payments) (Details) - Pension Plan $ in Millions	Dec. 31, 2025 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2026	$ 3,906
2027	3,470
2028	3,428
2029	3,427
2030	3,410
2031-2035	$ 16,229

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (k)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

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+ Details

Equity (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

A summary of the changes in each component of Accumulated other comprehensive loss, net of tax is provided below:


(dollars in millions)	Foreign Currency Translation (1)		Defined Benefit Pension and Postretirement Plans		Unrealized Hedging (Losses) Gains		Accumulated Other Comprehensive Loss
Balance at December 31, 2022	$	(1,005)	$	(782)	$	(231)	$	(2,018)
Other comprehensive income (loss) before reclassifications, net	562		(1,041)		278		(201)
Amounts reclassified, pre-tax	—		(568)		80		(488)
Tax benefit (expense)	3		365		(80)		288
Balance at December 31, 2023	$	(440)	$	(2,026)	$	47	$	(2,419)
Other comprehensive income (loss) before reclassifications, net	(506)		(674)		(291)		(1,471)
Amounts reclassified, pre-tax	—		(173)		63		(110)
Tax benefit (expense)	(3)		194		54		245

Balance at December 31, 2024	$	(949)	$	(2,679)	$	(127)	$	(3,755)
Other comprehensive income (loss) before reclassifications, net	1,454		(910)		278		822
Amounts reclassified, pre-tax	(18)		118		6		106
Tax benefit (expense)	5		167		(63)		109
Balance at December 31, 2025	$	492	$	(3,304)	$	94	$	(2,718)

Employee Benefit Plans (Net Periodic Pension (Income) Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Non-operating expense
Non-service pension income	$ (1,182)	$ (1,518)	$ (1,780)
Pension Plan
Operating expense
Service cost	169	189	222
Non-operating expense
Interest cost	2,343	2,385	2,507
Expected return on plan assets	(3,682)	(3,747)	(3,753)
Amortization of prior service credit	(140)	(170)	(158)
Recognized actuarial net loss (gain)	21	20	(378)
Net settlement, curtailment, and special termination benefits loss	275	13	6
Non-service pension income	(1,183)	(1,499)	(1,776)
Net periodic pension and other postretirement income	$ (1,014)	$ (1,310)	$ (1,554)

Commitments and Contingencies (Commercial Aerospace Industry Commitments) (Details) - Commercial Aerospace $ in Millions	Dec. 31, 2025 USD ($)
Commercial aerospace financing commitments
Committed	$ 3,874
2026	1,687
2027	1,357
2028	830
2029	0
2030	0
Thereafter	0
Other commercial aerospace commitments
Committed	9,242
2026	752
2027	628
2028	660
2029	645
2030	511
Thereafter	6,046
Collaboration partners’ share
Committed	(5,325)
2026	(1,018)
2027	(854)
2028	(655)
2029	(273)
2030	(215)
Thereafter	(2,310)
Total commercial aerospace commitments
Committed	7,791
2026	1,421
2027	1,131
2028	835
2029	372
2030	296
Thereafter	$ 3,736

Fair Value Measurements (Recurring Fair Value Measurements) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	$ 750	$ 786
Derivative assets	436	187
Derivative liabilities	265	451
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	676	721
Derivative assets	0	0
Derivative liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	74	65
Derivative assets	436	187
Derivative liabilities	265	451
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities held in trusts	0	0
Derivative assets	0	0
Derivative liabilities	$ 0	$ 0

- Definition

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- Definition

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounts Receivable, Net (Changes in Allowance for Expected Credit Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of January 1	$ 289	$ 316	$ 452
Current period provision, net of recoveries	64	(14)	(92)
Write-offs	(12)	(7)	(42)
Other, net	(1)	(6)	(2)
Balance as of December 31	$ 340	$ 289	$ 316

Leases (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease expense	$ 495	$ 422	$ 463
Weighted average remaining lease term for operating leases	9 years	10 years
Weighted average discount rate for operating leases	4.30%	4.30%

Employee Benefit Plans (Changes in Plan Assets using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets, beginning balance	$ 46,414
Realized (losses) gains	4	$ (136)
Unrealized gains (losses) relating to instruments still held in the reporting period	(66)	27
Purchases, sales, and settlements, net	(170)	123
Plan assets, ending balance	45,114	46,414
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Plan assets, beginning balance	1,481	1,467
Plan assets, ending balance	$ 1,249	$ 1,481

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

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+ Details

Leases (Lease Liabilities Recognized in the Consolidated Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease liabilities, current (included in Other accrued liabilities)	$ 450	$ 367
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Operating lease liabilities, non-current	$ 1,602	$ 1,632
Total operating lease liabilities	$ 2,052	$ 1,999

Basis of Presentation and Summary of Accounting Principles (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Finite-Lived Intangible Assets Estimated Useful Lives

The range of estimated useful lives is as follows:


			Years
Collaboration assets			9 to 30
Customer relationships and related programs			3 to 25
Developed technology			3 to 25
Patents and trademarks			5 to 30
Exclusivity assets			5 to 25

Schedule of Change in Accounting Estimate

Net EAC adjustments had the following impact on our operating results:


(dollars in millions, except per share amounts)	2025		2024		2023
Total net sales	$	(208)	$	(144)	$	(452)
Operating profit	(386)		(473)		(648)
Net income attributable to common shareowners (1)	(305)		(374)		(512)
Diluted earnings per share attributable to common shareowners (1)	$	(0.22)	$	(0.28)	$	(0.36)

(1) Amounts reflect a U.S. statutory tax rate of 21%, which approximates our tax rate on our EAC adjustments.

Schedule of Collaborative Arrangements

The following table illustrates the

Consolidated Statement of Operations classification and amounts attributable to transactions arising from the collaborative arrangements between participants for each period presented.


(dollars in millions)	2025		2024		2023
Collaborator share of sales (1):
Cost of sales - products	$	3,819	$	3,348	$	(181)
Cost of sales - services	3,446		2,659		2,151
Collaborator share of program costs (reimbursement of expenses incurred):
Cost of sales - products	(272)		(194)		(205)
Research and development	(182)		(213)		(208)
Selling, general, and administrative	(121)		(110)		(114)

(1) 2023 total cost of sales includes a net reduction of $2.6 billion related to our collaborators’ share of the Powder Metal Matter.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

NOTE 19: STOCK-BASED COMPENSATION

RTX’s long-term incentive plans authorize various types of market and performance-based incentive awards that may be granted to officers and key employees. The RTX Corporation Long-Term Incentive Plan (LTIP), was last amended on October 29, 2025. A total of 231 million shares have been authorized for issuance pursuant to awards under the LTIP including shares assumed from predecessor plans and adjustments associated with the separation of Carrier and Otis. As of December 31, 2025, approximately 101 million shares remain available for awards under the LTIP. The LTIP does not contain aggregate annual award limits, however, it sets an annual award limit per participant. The LTIP will expire after all authorized shares have been awarded or on May 2, 2034, whichever is sooner.

Under the LTIP, the exercise price of awards is set on the grant date and may not be less than the fair market value per share on that date. Generally, stock appreciation rights (SARs) and stock options have a term of ten years and a three-year vesting period, subject to limited exceptions. In the event of retirement, annual stock appreciation rights, stock options, and restricted stock units (RSUs) held for more than one year may become vested and exercisable, subject to certain terms and conditions. LTIP awards with performance-based vesting generally have a minimum three-year vesting period and vest based on actual performance against pre-established metrics. In the event of retirement, performance-based awards held for more than one year, remain eligible to vest based on actual performance relative to performance goals.

We measure the cost of share-based payments for restricted share units, stock options, stock appreciation rights, and awards with market-based conditions at fair value on the grant date. For awards that include performance conditions, compensation expense is recorded based on the estimated number of awards that are expected to vest at the end of the performance period. The cost of all share-based payments are recognized in the Consolidated Statement of Operations, net of expected forfeitures, as follows:


(dollars in millions)	2025		2024		2023
Total compensation cost recognized	$	519	$	437	$	425

The cash received and the related tax benefit realized on exercised stock options for 2025, 2024 and 2023 were not material. Additionally, the future income tax benefit recognized and the tax benefits realized on vesting of performance share units (PSU’s), restricted stock awards and RSUs were not material for the respective periods.

At December 31, 2025, there was $340 million of total unrecognized compensation cost related to non-vested equity awards granted under long-term incentive plans. This cost is expected to be recognized ratably over a weighted-average period of 2.3 years.

A summary of the transactions under our long-term incentive plans for the year ended December 31, 2025 follows.


	Stock Options			Stock Appreciation Rights			Performance Share Units			Restricted Stock and RSUs
(shares and units in thousands)	Shares	Average Price (1)		Shares	Average Price (1)		Units	Average Price (2)		Units	Average Price (2)
Outstanding at:











December 31, 2024	1,255	$	83.18	25,746	$	84.13	2,701	$	95.26	8,903	$	94.32
Granted (3)	74	128.78		1,777	128.78		830	136.65		2,832	132.59

Exercised / earned (3)	(348)	78.37		(8,031)	80.26		(945)	100.31		(3,054)	97.02
Cancelled	(5)	128.78		(225)	102.38		(73)	111.22		(327)	111.46


December 31, 2025	976	$	88.11	19,267	$	89.65	2,513	$	106.57	8,354	$	105.50

(1) Weighted-average exercise price per share.

(2) Weighted-average grant date fair value per share.

(3) Performance Share Units includes an adjustment for actual performance achieved on the 2022 award of 86 thousand units.

The weighted-average grant date fair value of stock options and stock appreciation rights granted during 2025, 2024, and 2023 was $36.37, $21.72, and $24.66, respectively. The weighted-average grant date fair value of PSU’s, which vest upon achieving certain performance metrics, granted during 2025, 2024, and 2023 was $136.10, $93.48, and $96.39, respectively. The total fair value of awards vested during 2025, 2024, and 2023 was $437 million, $447 million, and $273 million, respectively. The total intrinsic value (which is the amount by which the stock price exceeded the exercise price on the date of exercise) of stock options and stock appreciation rights exercised during 2025, 2024, and 2023 was $553 million, $245 million, and $46 million, respectively. The total intrinsic value (which is the stock price at vesting multiplied by the number of underlying shares) of PSU’s and other restricted awards vested was $520 million, $506 million, and $263 million during 2025, 2024, and 2023, respectively.

The following table summarizes information about equity awards outstanding that are vested and expected to vest as well as equity awards outstanding that are exercisable at December 31, 2025:


	Equity Awards Vested and Expected to Vest						Equity Awards That Are Exercisable
(shares in thousands; aggregate intrinsic value in millions)	Awards	Average Price		Aggregate Intrinsic Value		Remaining Term (3)	Awards	Average Price		Aggregate Intrinsic Value		Remaining Term (3)
Stock Options (1)	973	$	88.04	$	93	4.89	726	$	82.84	$	73	3.81
Stock Appreciation Rights (1)	19,175	89.53		1,800		5.23	13,098	83.07		1,314		3.92
Performance Share Units (2)	2,476	106.37		454		1.04
Restricted Stock and RSUs (2)	8,060	105.28		1,478		1.49

(1) Average price is weighted-average exercise price per share.

(2) Average price is weighted-average grant date fair value per share.

(3) Weighted-average contractual remaining term in years.

The fair value of each option award is estimated on the date of grant using a binomial lattice model. The following table indicates the assumptions used in estimating fair value for awards granted during 2025, 2024, and 2023. Lattice-based option models incorporate ranges of assumptions for inputs; those ranges are as follows:


	2025		2024		2023
Expected volatility	25.9%		24.7%		26.2%
Weighted-average volatility	26	%	25	%	26	%
Expected term (in years)	7.0		6.9		6.7
Expected dividend yield	2.0	%	2.6	%	2.3	%
Risk-free rate	4.1% - 4.4%		4.1% - 5.4%		3.6% - 4.8%

Expected volatilities are based on the returns of our stock, including implied volatilities from traded options on our stock for the binomial lattice model. We use historical data to estimate equity award exercise and employee termination behavior within the valuation model. The expected term represents an estimate of the period of time equity awards are expected to remain outstanding. The risk-free rate is based on the term structure of interest rates at the time of equity award grant.

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 14: FAIR VALUE MEASUREMENTS

The following tables provide the valuation hierarchy classification of assets and liabilities that are carried at fair value and measured on a recurring basis in our Consolidated Balance Sheet:


	December 31, 2025
(dollars in millions)	Total		Level 1		Level 2		Level 3
Recurring fair value measurements:
Marketable securities held in trusts	$	750	$	676	$	74	$	—
Derivative assets	436		—		436		—
Derivative liabilities	265		—		265		—


	December 31, 2024
(dollars in millions)	Total		Level 1		Level 2		Level 3
Recurring fair value measurements:
Marketable securities held in trusts	$	786	$	721	$	65	$	—
Derivative assets	187		—		187		—
Derivative liabilities	451		—		451		—

Valuation Techniques. Our derivative assets and liabilities include foreign exchange contracts that are measured at fair value using internal models based on observable market inputs such as forward rates, interest rates, our own credit risk, and our counterparties’ credit risks.

As of December 31, 2025, there has not been any significant impact to the fair value of our derivative liabilities due to our own credit risk. Similarly, there has not been any significant adverse impact to our derivative assets based on our evaluation of our counterparties’ credit risks.

The following table provides carrying amounts and fair values of financial instruments that are not carried at fair value in our Consolidated Balance Sheet at December 31:


	2025				2024
(dollars in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value


Long-term debt (excluding finance leases)	$	37,627	$	35,733	$	40,991	$	37,956

The following tables provide the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Consolidated Balance Sheet at December 31:


	2025
(dollars in millions)	Total		Level 1		Level 2		Level 3


Long-term debt (excluding finance leases)	$	35,733	$	—	$	34,800	$	933


	2024
(dollars in millions)	Total		Level 1		Level 2		Level 3


Long-term debt (excluding finance leases)	$	37,956	$	—	$	35,180	$	2,776

The fair value of our Short-term borrowings approximates the carrying value due to their short-term nature and is classified as level 3 within the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 2
-Subparagraph (c)(3)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (h)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Subparagraph (h)
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Income Taxes (Unrecognized Tax Benefits Rollforward) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Balance at January 1	$ 1,263	$ 1,442	$ 1,515
Additions for tax positions related to the current year	125	84	89
Additions for tax positions of prior years	19	164	5
Reductions for tax positions of prior years	(47)	(13)	(141)
Settlements	(133)	(414)	(26)
Balance at December 31	1,227	1,263	1,442
Gross interest expense related to unrecognized tax benefits	68	127	62
Total accrued interest balance at December 31	$ 256	$ 255	$ 233

Employee Benefit Plans (Defined Benefit Plan Assumptions) (Details)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Salary scale, pension benefit obligation	4.40%	4.40%
Salary scale, net periodic pension income	4.40%	4.40%	4.40%
Pension Plan, Non-Significant Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate, pension benefit obligation	5.30%	5.60%
Discount rate, net periodic pension income	5.60%	5.10%	5.50%
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets, net periodic pension income	7.10%	7.10%	7.10%
Interest crediting rate, pension benefit obligation	5.00%	5.00%
Interest crediting rate, net periodic pension income	5.00%	5.00%	4.40%
Interest cost \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate, net periodic pension income	5.30%	5.00%	5.30%
Service cost \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Discount rate, net periodic pension income	5.60%	5.00%	5.40%

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Tax benefit due to conclusion of examinations			$ 300
U.S. tax charge owned resulting from a favorable non-U.S. tax ruling			200
Pre-tax benefit indemnity owed by Otis pursuant to tax matters agreement			200
Deferred tax benefit		$ (789)	47	$ 402
Operating profit charge		(9,300)	(6,538)	(3,561)
Income taxes paid, net of refunds		1,607	1,176	1,527
Unrecognized tax benefits		1,227	$ 1,263	1,442	$ 1,515
Unrecognized tax benefits that would impact effective tax rate		$ 1,218
PW1100 GTF Program
Income Tax Contingency [Line Items]
Deferred tax benefit				700
PW1100 GTF Program \| Pratt & Whitney
Income Tax Contingency [Line Items]
Operating profit charge	$ 2,900			$ 2,900

Guarantees

12 Months Ended

Dec. 31, 2025

Guarantees and Product Warranties [Abstract]

Guarantees

NOTE 16: GUARANTEES

We extend a variety of financial, market value, and product performance guarantees to third parties. These instruments expire on various dates through 2062. Additional guarantees of project performance for which there is no stated value also remain

outstanding. A portion of our third party guarantees are subject to indemnification for our benefit for any liabilities that could arise. As of December 31, 2025 and 2024, the following financial guarantees were outstanding:


	December 31, 2025				December 31, 2024
(dollars in millions)	Maximum Potential Payment		Carrying Amount of Liability		Maximum Potential Payment		Carrying Amount of Liability
Commercial aerospace financing arrangements	$	106	$	—	$	274	$	—
Third party guarantees	248		—		79		1

We have made residual value and other guarantees related to various commercial aerospace customer financing arrangements. The estimated fair market values of the guaranteed assets equal or exceed the value of the related guarantees, net of existing reserves. Collaboration partners’ share of these financing guarantees was $0.1 billion at December 31, 2025 and 2024.

We also have obligations arising from sales of certain businesses and assets, including those from representations and warranties and related indemnities for environmental, health and safety, tax, and employment matters. The maximum potential payment related to these obligations is not a specified amount, as a number of the obligations do not contain financial caps. The carrying amount of liabilities related to these obligations were $0.1 billion at December 31, 2025 and 2024. These primarily relate to environmental liabilities, which are included in our total environmental liabilities as further discussed in “Note 17: Commitments and Contingencies.”

We accrue for costs associated with guarantees when it is probable that a liability has been incurred and the amount can be reasonably estimated. The most likely cost to be incurred is accrued based on an evaluation of currently available facts, and where no amount within a range of estimates is more likely, the minimum is accrued.

We also provide service and warranty policies on our products and extend performance and operating cost guarantees beyond our normal service and warranty policies on some of our products, particularly commercial aircraft engines. In addition, we incur discretionary costs to service our products in connection with specific product performance issues. Liabilities for performance and operating cost guarantees are based upon future product performance and durability, and are largely estimated based upon historical experience. Adjustments are made to accruals as claims data and historical experience warrant.

The changes in the carrying amount of service and product warranties and product performance guarantees for the years ended December 31 were as follows:


(dollars in millions)	2025		2024		2023
Balance as of January 1	$	993	$	1,091	$	1,109
Warranties and performance guarantees issued	294		216		305
Settlements	(261)		(247)		(308)
Other	9		(67)		(15)
Balance as of December 31	$	1,035	$	993	$	1,091

Product and service guarantees incurred in connection with long-term production contracts and certain aftermarket arrangements are generally accounted for within the contract estimates at completion.

- Definition

The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(5)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/460/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

+ Details

Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock. shares authorized (in shares)	250,000	250,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	4,000,000	4,000,000
Common stock, shares issued (in shares)	1,725,312	1,718,756
Treasury stock (in shares)	383,025	386,633

Fixed Assets, Net (Details) - USD ($) $ in Millions	12 Months Ended
Fixed Assets, Net (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Land	$ 710	$ 695
Buildings and improvements	9,188	8,615
Machinery, tools, and equipment	21,572	19,738
Assets under construction	3,865	3,735
Fixed assets, gross	35,335	32,783
Accumulated depreciation	(18,467)	(16,694)
Fixed assets, net	16,868	16,089
Depreciation expense	$ 1,900	$ 1,800	$ 1,800
Buildings and improvements \| Minimum
Property Plant And Equipment [Line Items]
Estimated Useful Lives	10 years
Buildings and improvements \| Maximum
Property Plant And Equipment [Line Items]
Estimated Useful Lives	45 years
Machinery, tools, and equipment \| Minimum
Property Plant And Equipment [Line Items]
Estimated Useful Lives	3 years
Machinery, tools, and equipment \| Maximum
Property Plant And Equipment [Line Items]
Estimated Useful Lives	20 years

Consolidated Statement of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Net sales:
Net Sales	$ 88,603	$ 80,738	$ 68,920
Costs and expenses:
Research and development	2,807	2,934	2,805
Selling, general, and administrative	6,095	5,806	5,809
Total costs and expenses	79,716	74,068	65,445
Other income (expense), net	413	(132)	86
Operating profit (loss)	9,300	6,538	3,561
Non-operating expense (income), net:
Non-service pension income	(1,182)	(1,518)	(1,780)
Interest expense, net	1,749	1,862	1,505
Total non-operating expense (income), net	567	344	(275)
Income before income taxes	8,733	6,194	3,836
Income tax expense	1,664	1,181	456
Net income	7,069	5,013	3,380
Less: Noncontrolling interest in subsidiaries’ earnings	337	239	185
Net income attributable to common shareowners	$ 6,732	$ 4,774	$ 3,195
Earnings Per Share attributable to common shareowners:
Basic (in dollars per share)	$ 5.02	$ 3.58	$ 2.24
Diluted (in dollars per share)	$ 4.96	$ 3.55	$ 2.23
Weighted average number of shares outstanding:
Basic shares (in shares)	1,341.4	1,332.1	1,426.0
Diluted shares (in shares)	1,356.4	1,343.6	1,435.4
Products
Net sales:
Net Sales	$ 64,171	$ 59,612	$ 49,571
Costs and expenses:
Cost of Sales	53,780	50,768	43,425
Services
Net sales:
Net Sales	24,432	21,126	19,349
Costs and expenses:
Cost of Sales	$ 17,034	$ 14,560	$ 13,406

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

NOTE 11: LEASES

We enter into lease agreements for the use of real estate space, vehicles, IT equipment, and certain other equipment, including engines, under both operating and finance leases. The majority of our lease agreements are accounted for as operating leases. Operating lease expense was $495 million, $422 million, and $463 million for 2025, 2024, and 2023, respectively. Finance leases are not considered significant to our Consolidated Balance Sheet, Consolidated Statement of Operations, or Consolidated Statement of Cash Flows.

Leases under which we are the lessor are generally short-term leases that support our commercial aerospace customers during engine maintenance events. Our commercial aerospace customers have varying forms of aftermarket maintenance coverage that often provide a level of support for leased engines as part of the revenue arrangement. As such, leases where we are the lessor are not considered significant to our Consolidated Balance Sheet, Consolidated Statement of Operations, or Consolidated Statement of Cash Flows.

In 2025, 2024, and 2023, we entered into sale and leaseback transactions for the sale of new engines and related maintenance. We subsequently lease back the engines sold for a limited timeframe and account for them as operating leases. The proceeds

received as a result of sales of new engines are classified primarily in Other operating activities, net within our Consolidated Statement of Cash Flows. The net gains as a result of these transactions were not material.

Supplemental cash flow information related to operating leases were as follows:


(dollars in millions)	2025		2024		2023
Operating cash flows used in the measurement of operating lease liabilities	$	466	$	417	$	421
Operating lease right-of-use assets obtained in exchange for operating lease obligations	429		707		373

Future lease payments related to our operating lease liabilities as of December 31, 2025 are as follows:


(dollars in millions)
2026	$	492
2027	419
2028	339
2029	228
2030	197
Thereafter	754
Total undiscounted lease payments	2,429
Less imputed interest	(377)
Total discounted lease payments	$	2,052

Our lease liabilities recognized in our Consolidated Balance Sheet were as follows as of December 31:


(dollars in millions)	2025		2024
Operating lease liabilities, current (included in Other accrued liabilities)	$	450	$	367
Operating lease liabilities, non-current	1,602		1,632
Total operating lease liabilities	$	2,052	$	1,999

The weighted-average remaining lease term related to our operating leases was 9 years and 10 years as of December 31, 2025 and 2024, respectively. The weighted-average discount rate related to our operating leases was 4.3% as of December 31, 2025 and 2024.

Guarantees (Product Warranties) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance as of January 1	$ 993	$ 1,091	$ 1,109
Warranties and performance guarantees issued	294	216	305
Settlements	(261)	(247)	(308)
Other	9	(67)	(15)
Balance as of December 31	$ 1,035	$ 993	$ 1,091

Segment Financial Data (Geographic External Sales by Origin and Long-Lived Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	$ 88,603	$ 80,738	$ 68,920
Long-Lived Assets	16,868	16,089
United States
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	47,291	46,087	44,881
Long-Lived Assets	13,791	13,041
Europe
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	18,799	15,975	13,501
Long-Lived Assets	1,135	1,189
Asia Pacific
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	13,782	10,893	9,049
Long-Lived Assets	899	834
Middle East and North Africa
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	3,621	3,458	3,237
Long-Lived Assets	101	98
Other regions
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	5,110	4,325	3,653
Long-Lived Assets	942	927
United States \| United States
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	74,778	67,701	57,539
International \| Europe
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	5,438	5,493	4,849
International \| Asia Pacific
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	2,864	2,587	2,182
International \| Middle East and North Africa
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	348	486	492
International \| Other regions
Segment Reporting, Asset Reconciling Item [Line Items]
Net Sales	$ 5,175	$ 4,471	$ 3,858

Income Taxes (Income Tax Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current:
Federal	$ 59	$ 443	$ 213
State	99	179	70
Foreign	717	606	575
Current income tax expense (benefit)	875	1,228	858
Future:
Federal	706	(13)	(411)
State	71	71	(53)
Foreign	12	(105)	62
Deferred income tax expense (benefit)	789	(47)	(402)
Income tax expense	$ 1,664	$ 1,181	$ 456

Variable Interest Entities (Narrative) (Details)	12 Months Ended
Variable Interest Entities (Narrative) (Details)	Dec. 31, 2025
International Aero Engines AG
Variable Interest Entity [Line Items]
Qualitative of quantitative information, net percent	61.00%
Qualitative or quantitative information, ownership percent	49.50%
Qualitative of quantitative information, net percentage post	57.00%
International Aero Engines LLC
Variable Interest Entity [Line Items]
Qualitative of quantitative information, net percent	59.00%
Qualitative or quantitative information, ownership percent	59.00%
Qualitative of quantitative information, net percentage post	51.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Inventory, Net

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

Inventory, Net

NOTE 7: INVENTORY, NET


(dollars in millions)	2025		2024
Raw materials	$	4,673	$	4,164
Work-in-process	4,554		4,493
Finished goods	4,137		4,111
Total inventory, net	$	13,364	$	12,768

Raw materials, work-in-process, and finished goods are net of total valuation reserves of $2.3 billion and $2.1 billion as of December 31, 2025 and 2024, respectively.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	238

Borrowings and Lines of Credit (Schedule of Repayments of Long-Term Debt) (Details) - USD ($) $ in Millions	Dec. 17, 2025	Aug. 18, 2025	May 07, 2025	Dec. 24, 2024	Dec. 15, 2024	May 07, 2024	Apr. 17, 2024	Apr. 04, 2024	Mar. 15, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
3 Month SOFR plus 1.225% term loan due 2026
Debt Instrument [Line Items]
Repayments of debt	$ 1,100
Debt instrument, stated percentage										1.225%
3.950% notes due 2025
Debt Instrument [Line Items]
Repayments of debt		$ 1,500
Debt instrument, stated percentage											3.95%
3 Month SOFR plus 1.225% term loan due 2025
Debt Instrument [Line Items]
Repayments of debt			$ 750	$ 500		$ 250	$ 250	$ 250
Debt instrument, stated percentage											1.225%
Notes 3.150% Due 2024
Debt Instrument [Line Items]
Repayments of debt					$ 300
Debt instrument, stated percentage												3.15%
Notes 3.200% Due 2024
Debt Instrument [Line Items]
Repayments of debt									$ 950
Debt instrument, stated percentage												3.20%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

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+ Details

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The cost of all share-based payments are recognized in the Consolidated Statement of Operations, net of expected forfeitures, as follows:


(dollars in millions)	2025		2024		2023
Total compensation cost recognized	$	519	$	437	$	425

Schedule of Transactions Under Long-Term Incentive Plans

A summary of the transactions under our long-term incentive plans for the year ended December 31, 2025 follows.


	Stock Options			Stock Appreciation Rights			Performance Share Units			Restricted Stock and RSUs
(shares and units in thousands)	Shares	Average Price (1)		Shares	Average Price (1)		Units	Average Price (2)		Units	Average Price (2)
Outstanding at:











December 31, 2024	1,255	$	83.18	25,746	$	84.13	2,701	$	95.26	8,903	$	94.32
Granted (3)	74	128.78		1,777	128.78		830	136.65		2,832	132.59

Exercised / earned (3)	(348)	78.37		(8,031)	80.26		(945)	100.31		(3,054)	97.02
Cancelled	(5)	128.78		(225)	102.38		(73)	111.22		(327)	111.46


December 31, 2025	976	$	88.11	19,267	$	89.65	2,513	$	106.57	8,354	$	105.50

(1) Weighted-average exercise price per share.

(2) Weighted-average grant date fair value per share.

(3) Performance Share Units includes an adjustment for actual performance achieved on the 2022 award of 86 thousand units.

Schedule of Information about Equity Awards

The following table summarizes information about equity awards outstanding that are vested and expected to vest as well as equity awards outstanding that are exercisable at December 31, 2025:


	Equity Awards Vested and Expected to Vest						Equity Awards That Are Exercisable
(shares in thousands; aggregate intrinsic value in millions)	Awards	Average Price		Aggregate Intrinsic Value		Remaining Term (3)	Awards	Average Price		Aggregate Intrinsic Value		Remaining Term (3)
Stock Options (1)	973	$	88.04	$	93	4.89	726	$	82.84	$	73	3.81
Stock Appreciation Rights (1)	19,175	89.53		1,800		5.23	13,098	83.07		1,314		3.92
Performance Share Units (2)	2,476	106.37		454		1.04
Restricted Stock and RSUs (2)	8,060	105.28		1,478		1.49

(1) Average price is weighted-average exercise price per share.

(2) Average price is weighted-average grant date fair value per share.

(3) Weighted-average contractual remaining term in years.

Schedule of Valuation Assumptions

Lattice-based option models incorporate ranges of assumptions for inputs; those ranges are as follows:


	2025		2024		2023
Expected volatility	25.9%		24.7%		26.2%
Weighted-average volatility	26	%	25	%	26	%
Expected term (in years)	7.0		6.9		6.7
Expected dividend yield	2.0	%	2.6	%	2.3	%
Risk-free rate	4.1% - 4.4%		4.1% - 5.4%		3.6% - 4.8%

Acquisitions and Dispositions (Details) - USD ($) $ in Millions					12 Months Ended
	Oct. 06, 2025	Jul. 21, 2025	Oct. 31, 2024	Mar. 29, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Business Combination [Line Items]
Pre-tax gain on sale of business					$ 0	$ 415	$ 0
Actuation and Flight Control Business \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Collins Aerospace
Business Combination [Line Items]
Proceeds from sale of business		$ 1,800
Cash received from sale of business, net of cash transferred, that is attributable to continuing service agreements		1,600
Pre-tax gain on sale of business		$ 200
Simmonds Precision Products Business \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Collins Aerospace
Business Combination [Line Items]
Proceeds from sale of business	$ 800
Pre-tax gain on sale of business	$ 100
Cybersecurity, Intelligence and Services Business \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Raytheon
Business Combination [Line Items]
Pre-tax gain on sale of business				$ 400
Cash proceeds from sale of business				$ 1,300
Collins Goodrich Hoist & Winch Business \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Collins Aerospace
Business Combination [Line Items]
Pre-tax gain on sale of business			$ 100
Cash proceeds from sale of business			$ 500

Equity (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions		1 Months Ended		3 Months Ended		12 Months Ended
	Oct. 26, 2023 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) $ / shares shares	Jul. 31, 2024 shares	Dec. 31, 2025 USD ($)	Sep. 30, 2024 USD ($) tranche shares	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 24, 2023 USD ($)
Accelerated Share Repurchases [Line Items]
Purchase price									$ 10,000
Repurchase of common stock						$ 50	$ 444	$ 12,870
Shares repurchased as a percentage of the total expected to be repurchased	85.00%
Number of tranches settled \| tranche					2
Settlement payment		$ 261			$ 261
Final price of stock acquired (in dollars per share) \| $ / shares		$ 94.28
Pension Plan
Accelerated Share Repurchases [Line Items]
Actuarial loss recognized, before tax				$ 300		21	20
Actuarial loss recognized, after tax				$ 200
Treasury Stock
Accelerated Share Repurchases [Line Items]
Common stock repurchased						$ 50	$ 225	$ 11,490
October 26, 2023
Accelerated Share Repurchases [Line Items]
Repurchase of common stock	$ 10,000
Stock acquired (in shares) \| shares	108.4
Initial price of stock acquired (in dollars per share) \| $ / shares	$ 78.38
October 26, 2023 \| Treasury Stock
Accelerated Share Repurchases [Line Items]
Common stock repurchased	$ 8,500
October 26, 2023 \| Common Stock
Accelerated Share Repurchases [Line Items]
Common stock repurchased	$ 1,500
First Tranche
Accelerated Share Repurchases [Line Items]
Stock acquired (in shares) \| shares			0.4
Second Tranche
Accelerated Share Repurchases [Line Items]
Treasury stock owed (in shares) \| shares		2.2			2.2

Employee Benefit Plans (Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 3,311	$ 3,260
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	3,284	3,239
Fair value of plan assets	$ 1,634	$ 1,537

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities

The carrying amounts and classification of assets and liabilities for variable interest entities in our Consolidated Balance Sheet as of December 31, 2025 and 2024 are as follows:


(dollars in millions)	2025		2024
Current assets	$	14,703	$	10,315
Non-current assets	1,191		1,060
Total assets	$	15,894	$	11,375
Current liabilities	$	16,265	$	13,595
Non-current liabilities	116		140
Total liabilities	$	16,381	$	13,735

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Earnings Per Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 4: EARNINGS PER SHARE


(dollars in millions, except per share amounts; shares in millions)	2025		2024		2023



Net income attributable to common shareowners	$	6,732	$	4,774	$	3,195
Basic weighted average number of shares outstanding	1,341.4		1,332.1		1,426.0
Stock awards and equity units (share equivalent)	15.0		11.5		9.4
Diluted weighted average number of shares outstanding	1,356.4		1,343.6		1,435.4
Earnings Per Share attributable to common shareowners:
Basic	$	5.02	$	3.58	$	2.24



Diluted	4.96		3.55		2.23

The computation of diluted earnings per share (EPS) excludes the effect of the potential exercise of stock awards, including stock appreciation rights and stock options, when the average market price of the common stock is lower than the exercise price of the related stock awards during the period because the effect would be anti-dilutive. In addition, the computation of diluted EPS excludes the effect of the potential release or exercise of stock awards when the awards’ assumed proceeds exceed the average market price of the common shares during the period. For 2025, 2024, and 2023, there were 1.4 million, 4.8 million, and 9.6 million stock awards excluded from the computation, respectively.

Basis of Presentation and Summary of Accounting Principles

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Basis of Presentation and Summary of Accounting Principles

NOTE 1: BASIS OF PRESENTATION AND SUMMARY OF ACCOUNTING PRINCIPLES

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses. Actual results could differ from those estimates.

Unless the context otherwise requires, the terms “we,” “our,” “us,” “the Company,” and “RTX” mean RTX Corporation and its subsidiaries.

We reclassified certain immaterial prior period amounts within our Consolidated Statement of Cash Flows and Consolidated Statement of Changes in Equity related to our share-based 401(k) matching contributions to conform to our current period presentation.

Legal Matters. As previously disclosed, in 2024 the Company resolved several outstanding legal matters, herein referred to as “Resolution of Certain Legal Matters.” See “Note 17: Commitments and Contingencies” for additional information.

Russia Sanctions. In response to Russia’s invasion of Ukraine, the U.S. government and the governments of various jurisdictions in which we operate, have imposed broad economic sanctions and export controls targeting specific industries, entities, and individuals in Russia. The Russian government has implemented similar counter-sanctions and export controls targeting specific industries, entities, and individuals in the U.S. and other jurisdictions in which we operate, including certain members of the Company’s management team and Board of Directors. These government measures, among other limitations, restrict transactions involving various Russian banks and financial institutions and impose enhanced export controls limiting transfers of various goods, software, and technologies to and from Russia, including broadened export controls specifically targeting the aerospace sector. These measures have adversely affected, and could continue to adversely affect, the Company and/or our supply chain, business partners, or customers. As a result of the Canadian government’s imposition of sanctions in February 2024, including those imposed on U.S.- and German-based Russian-owned entities from which we source titanium for use in our Canadian operations, we recorded charges of $175 million in the first quarter of 2024 within our Collins Aerospace (Collins) segment. These charges are primarily related to the recognition of unfavorable purchase commitments and an impairment of contract fulfillment costs that are no longer recoverable as a result of initiating alternative titanium sources. We continue to monitor developments, including additional sanctions and other measures, that could adversely affect the Company and/or our supply chain, business partners, or customers.

Pratt & Whitney Powder Metal Matter. In 2023, Pratt & Whitney determined that a rare condition in powder metal used to manufacture certain engine parts requires accelerated inspection of the PW1100G-JM (PW1100) Geared Turbofan (GTF) fleet, which powers the A320neo family of aircraft (A320neo) (herein referred to as the “Powder Metal Matter”). See “Note 17: Commitments and Contingencies” for additional information.

Summary of Accounting Principles. The following represents the significant accounting principles of RTX Corporation.

Expected credit losses are written off in the period in which the financial asset is no longer collectible.

Contract liabilities relate to payments received in advance of the satisfaction of performance under the contract. We receive payments from customers based on the terms established in our contracts.

Inventory. Inventory is stated at the lower of cost or estimated realizable value and is primarily based on first-in, first-out (FIFO) or average cost methods.

In connection with the acquisitions of Rockwell Collins in 2018 and Goodrich in 2012, and to a lesser extent the acquisition of Raytheon Company in 2020, we recorded assumed liabilities related to customer contractual obligations on certain contracts with economic returns that were lower than what could be realized in market transactions as of the acquisition date. We measured these assumed liabilities based on the estimated cash flows of the programs plus a reasonable contracting profit margin required to transfer the contracts to market participants. These liabilities are being amortized in accordance with the underlying pattern of obligations, as reflected by the expenses incurred on the contracts. The balance of the contractual obligations was $576 million and $654 million at December 31, 2025 and 2024, respectively. Total consumption of the contractual obligations for the years ended December 31, 2025, 2024, and 2023 was $78 million, $81 million, and $83 million, respectively, with future consumption expected to be as follows: $69 million in 2026, $81 million in 2027, $84 million in 2028, $82 million in 2029, $74 million in 2030, and $186 million thereafter.


			Years
Collaboration assets			9 to 30
Customer relationships and related programs			3 to 25
Developed technology			3 to 25
Patents and trademarks			5 to 30
Exclusivity assets			5 to 25

We act as a lessor, primarily for commercial aerospace engines for a short term during maintenance events. The majority of these leases are classified as operating leases. These leases are not significant to our Consolidated Balance Sheet or Consolidated Statement of Operations.

We have elected to account for tax on Global Intangible Low-Taxed Income (GILTI) as a period cost, as incurred.

Timing of the satisfaction of performance obligations varies across our businesses due to our diverse product and service mix, customer base, and contractual terms.

Net EAC adjustments had the following impact on our operating results:


(dollars in millions, except per share amounts)	2025		2024		2023
Total net sales	$	(208)	$	(144)	$	(452)
Operating profit	(386)		(473)		(648)
Net income attributable to common shareowners (1)	(305)		(374)		(512)
Diluted earnings per share attributable to common shareowners (1)	$	(0.22)	$	(0.28)	$	(0.36)

(1) Amounts reflect a U.S. statutory tax rate of 21%, which approximates our tax rate on our EAC adjustments.

Consolidated Statement of Operations classification and amounts attributable to transactions arising from the collaborative arrangements between participants for each period presented.


(dollars in millions)	2025		2024		2023
Collaborator share of sales (1):
Cost of sales - products	$	3,819	$	3,348	$	(181)
Cost of sales - services	3,446		2,659		2,151
Collaborator share of program costs (reimbursement of expenses incurred):
Cost of sales - products	(272)		(194)		(205)
Research and development	(182)		(213)		(208)
Selling, general, and administrative	(121)		(110)		(114)

(1) 2023 total cost of sales includes a net reduction of $2.6 billion related to our collaborators’ share of the Powder Metal Matter.

To the extent the hedge accounting criteria are not met, the foreign currency forward contracts are utilized as economic hedges and changes in the fair value of these contracts are recorded currently in earnings in the period in which they occur. Additional information pertaining to foreign currency forward contracts and net investment hedging is included in “Note 13: Financial Instruments.”

Other new pronouncements issued but not effective until after December 31, 2025 are not expected to have a material impact on our results of operations, financial condition, or liquidity.

Employee Benefit Plans (Change in Benefit Obligation, Plan Assets and Funded Status and Amounts Recognized in the Balance Sheet and Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Change in Plan Assets:
Plan assets, beginning balance	$ 46,414
Plan assets, ending balance	45,114	$ 46,414
Funded Status:
Fair value of plan assets	45,114	46,414
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Non-current liabilities	(2,067)	(2,104)
Pension Plan
Change in Benefit Obligation:
Benefit obligations, beginning balance	46,322	49,592
Service cost	169	189	$ 222
Interest cost	2,343	2,385	2,507
Actuarial loss (gain)	1,253	(2,013)
Total benefits paid	(3,530)	(3,633)
Net settlement, curtailment, and special termination benefits	(2,479)	9
Plan amendments	100	36
Business combinations and divestitures	1
Business combinations and divestitures		(23)
Other	275	(220)
Benefit obligations, ending balance	44,454	46,322	49,592
Change in Plan Assets:
Plan assets, beginning balance	46,414	48,945
Actual return on plan assets	4,237	1,092
Employer contributions	210	235
Total benefits paid	(3,530)	(3,633)
Settlements	(2,479)	(3)
Other	262	(222)
Plan assets, ending balance	45,114	46,414	48,945
Funded Status:
Fair value of plan assets	45,114	46,414	48,945
Benefit obligations	(44,454)	(46,322)	$ (49,592)
Funded status of plan	660	92
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Non-current assets	2,339	1,819
Current liabilities	(169)	(195)
Non-current liabilities	(1,510)	(1,532)
Net amount recognized	660	92
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss (gain)	5,431	4,926
Prior service credit	(822)	(1,044)
Net amount recognized	4,609	3,882
Other Postretirement Benefits Plan
Change in Benefit Obligation:
Benefit obligations, beginning balance	898
Benefit obligations, ending balance	890	898
Change in Plan Assets:
Plan assets, beginning balance	314
Plan assets, ending balance	330	314
Funded Status:
Fair value of plan assets	330	314
Benefit obligations	(890)	(898)
Funded status of plan	(560)	(584)
Amounts Recognized in the Consolidated Balance Sheet Consist of:
Non-current assets	0	0
Current liabilities	(59)	(61)
Non-current liabilities	(501)	(523)
Net amount recognized	(560)	(584)
Amounts Recognized in Accumulated Other Comprehensive Loss Consist of:
Net actuarial loss (gain)	(232)	(296)
Prior service credit	0	(1)
Net amount recognized	$ (232)	$ (297)

Financial Instruments

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

NOTE 13: FINANCIAL INSTRUMENTS

We enter into derivative instruments primarily for risk management purposes, including derivatives designated as hedging instruments and those utilized as economic hedges. We operate internationally and in the normal course of business, are exposed to fluctuations in interest rates, foreign exchange rates, and commodity prices. These fluctuations can increase the costs of financing, investing, and operating the business. We have used derivative instruments, including swaps, forward contracts, and options, to manage certain foreign currency, interest rate, and commodity price exposures.

The present value of the aggregate notional principal of our outstanding foreign currency hedges was $26 billion and $17 billion at December 31, 2025 and 2024, respectively.

The following table summarizes the fair value and presentation in the Consolidated Balance Sheet for derivative instruments as of December 31:


(dollars in millions)	Balance Sheet Location	2025		2024
Derivatives designated as hedging instruments:
Foreign exchange contracts	Other assets, current	$	357	$	177
	Other accrued liabilities	254		350
Derivatives not designated as hedging instruments:
Foreign exchange contracts	Other assets, current	$	79	$	10
	Other accrued liabilities	11		101

At December 31, 2025, all derivative contracts accounted for as cash flow hedges will mature by May 2036. Cash receipts or payments on derivatives designated as cash flow hedges are recorded in Other operating activities, net within the Consolidated Statement of Cash Flows. The Company utilizes the critical terms match method for cash flow hedges in assessing derivatives for hedge effectiveness. Gains or losses attributable to cash flow hedging contract activity are primarily recorded as a component of Products sales when reclassified from Accumulated other comprehensive loss.

The Company enters into forward exchange contracts to partially hedge its net investment in certain foreign subsidiaries denominated in EUR and CAD. The Company assesses the effectiveness of its net investment hedges using the spot method. Cash receipts or payments on derivatives designated as net investment hedges are recorded as investing cash flows within the Consolidated Statement of Cash Flows.

As of December 31 2024, we had €320 million of our €500 million principal value of euro-denominated long-term debt designated as a net investment hedge against our investments in European businesses. After March 31, 2025, this was no longer designated as a net investment hedge and subsequent effects are reflected within Other income (expense), net.

The effect of cash flow hedging relationships on Accumulated other comprehensive loss and on the Consolidated Statement of Operations in 2025 and 2024 are presented in “Note 18: Equity.” The hedged items and derivatives designated as hedging instruments are highly effective.

The effect of derivatives not designated as hedging instruments and related items is included within Other income (expense), net, on the Consolidated Statement of Operations and is not significant. Cash receipts or payments related to the settlement of derivatives not designated as hedging instruments are recorded as investing cash flows within the Consolidated Statement of Cash Flows.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Consolidated Balance Sheet

The following table summarizes the fair value and presentation in the Consolidated Balance Sheet for derivative instruments as of December 31:


(dollars in millions)	Balance Sheet Location	2025		2024
Derivatives designated as hedging instruments:
Foreign exchange contracts	Other assets, current	$	357	$	177
	Other accrued liabilities	254		350
Derivatives not designated as hedging instruments:
Foreign exchange contracts	Other assets, current	$	79	$	10
	Other accrued liabilities	11		101

Guarantees (Tables)

12 Months Ended

Dec. 31, 2025

Guarantees and Product Warranties [Abstract]

Schedule of Financial Guarantees

As of December 31, 2025 and 2024, the following financial guarantees were outstanding:


	December 31, 2025				December 31, 2024
(dollars in millions)	Maximum Potential Payment		Carrying Amount of Liability		Maximum Potential Payment		Carrying Amount of Liability
Commercial aerospace financing arrangements	$	106	$	—	$	274	$	—
Third party guarantees	248		—		79		1

Schedule of Product Warranties

The changes in the carrying amount of service and product warranties and product performance guarantees for the years ended December 31 were as follows:


(dollars in millions)	2025		2024		2023
Balance as of January 1	$	993	$	1,091	$	1,109
Warranties and performance guarantees issued	294		216		305
Settlements	(261)		(247)		(308)
Other	9		(67)		(15)
Balance as of December 31	$	1,035	$	993	$	1,091

Borrowings and Lines of Credit (Schedule of Long-term Debt Instruments) (Details) € in Millions, $ in Millions	Dec. 31, 2025 USD ($)	Dec. 31, 2025 EUR (€)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)
Debt Instrument [Line Items]
Total principal long-term debt	$ 37,777		$ 41,146
Other (including finance leases)	146		232
Other (fair market value adjustments, (discounts)/premiums, and debt issuance costs)	(77)		(68)
Total long-term debt	37,700		41,078
Less: current portion	3,412		2,352
Long-term debt, net of current portion	34,288		$ 38,726
3 Month SOFR plus 1.225% term loan due 2025
Debt Instrument [Line Items]
Debt instrument, stated percentage			1.225%	1.225%
Total principal long-term debt	0		$ 750
3.950% notes due 2025
Debt Instrument [Line Items]
Debt instrument, stated percentage			3.95%	3.95%
Total principal long-term debt	$ 0		$ 1,500
5.000% notes due 2026
Debt Instrument [Line Items]
Debt instrument, stated percentage	5.00%	5.00%
Total principal long-term debt	$ 500		500
2.650% notes due 2026
Debt Instrument [Line Items]
Debt instrument, stated percentage	2.65%	2.65%
Total principal long-term debt	$ 719		719
3 Month SOFR plus 1.225% term loan due 2026
Debt Instrument [Line Items]
Debt instrument, stated percentage	1.225%	1.225%
Total principal long-term debt	$ 900		2,000
5.750% notes due 2026
Debt Instrument [Line Items]
Debt instrument, stated percentage	5.75%	5.75%
Total principal long-term debt	$ 1,250		1,250
3.125% notes due 2027
Debt Instrument [Line Items]
Debt instrument, stated percentage	3.125%	3.125%
Total principal long-term debt	$ 1,100		1,100
3.500% notes due 2027
Debt Instrument [Line Items]
Debt instrument, stated percentage	3.50%	3.50%
Total principal long-term debt	$ 1,300		1,300
7.200% notes due 2027
Debt Instrument [Line Items]
Debt instrument, stated percentage	7.20%	7.20%
Total principal long-term debt	$ 382		382
7.100% notes due 2027
Debt Instrument [Line Items]
Debt instrument, stated percentage	7.10%	7.10%
Total principal long-term debt	$ 135		135
6.700% notes due 2028
Debt Instrument [Line Items]
Debt instrument, stated percentage	6.70%	6.70%
Total principal long-term debt	$ 285		285
7.000% notes due 2028
Debt Instrument [Line Items]
Debt instrument, stated percentage	7.00%	7.00%
Total principal long-term debt	$ 185		185
4.125% notes due 2028
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.125%	4.125%
Total principal long-term debt	$ 3,000		3,000
5.750% notes due 2029
Debt Instrument [Line Items]
Debt instrument, stated percentage	5.75%	5.75%
Total principal long-term debt	$ 500		500
7.500% notes due 2029
Debt Instrument [Line Items]
Debt instrument, stated percentage	7.50%	7.50%
Total principal long-term debt	$ 414		414
2.150% Notes due 2030
Debt Instrument [Line Items]
Debt instrument, stated percentage	2.15%	2.15%
Face amount \| €		€ 500		€ 500
Total principal long-term debt	$ 587		520
2.250% notes due 2030
Debt Instrument [Line Items]
Debt instrument, stated percentage	2.25%	2.25%
Total principal long-term debt	$ 1,000		1,000
6.000% notes due 2031
Debt Instrument [Line Items]
Debt instrument, stated percentage	6.00%	6.00%
Total principal long-term debt	$ 1,000		1,000
1.900% notes due 2031
Debt Instrument [Line Items]
Debt instrument, stated percentage	1.90%	1.90%
Total principal long-term debt	$ 1,000		1,000
2.375% notes due 2032
Debt Instrument [Line Items]
Debt instrument, stated percentage	2.375%	2.375%
Total principal long-term debt	$ 1,000		1,000
5.150% notes due 2033
Debt Instrument [Line Items]
Debt instrument, stated percentage	5.15%	5.15%
Total principal long-term debt	$ 1,250		1,250
6.100% notes due 2034
Debt Instrument [Line Items]
Debt instrument, stated percentage	6.10%	6.10%
Total principal long-term debt	$ 1,500		1,500
5.400% notes due 2035
Debt Instrument [Line Items]
Debt instrument, stated percentage	5.40%	5.40%
Total principal long-term debt	$ 446		446
6.050% notes due 2036
Debt Instrument [Line Items]
Debt instrument, stated percentage	6.05%	6.05%
Total principal long-term debt	$ 410		410
6.800% notes due 2036
Debt Instrument [Line Items]
Debt instrument, stated percentage	6.80%	6.80%
Total principal long-term debt	$ 117		117
7.000% notes due 2038
Debt Instrument [Line Items]
Debt instrument, stated percentage	7.00%	7.00%
Total principal long-term debt	$ 148		148
6.125% notes due 2038
Debt Instrument [Line Items]
Debt instrument, stated percentage	6.125%	6.125%
Total principal long-term debt	$ 575		575
4.450% notes due 2038
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.45%	4.45%
Total principal long-term debt	$ 750		750
5.700% notes due 2040
Debt Instrument [Line Items]
Debt instrument, stated percentage	5.70%	5.70%
Total principal long-term debt	$ 553		553
4.875% notes due 2040
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.875%	4.875%
Total principal long-term debt	$ 600		600
4.700% notes due 2041
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.70%	4.70%
Total principal long-term debt	$ 425		425
4.500% notes due 2042
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.50%	4.50%
Total principal long-term debt	$ 3,500		3,500
4.800% notes due 2043
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.80%	4.80%
Total principal long-term debt	$ 400		400
4.200% notes due 2044
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.20%	4.20%
Total principal long-term debt	$ 300		300
4.150% notes due 2045
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.15%	4.15%
Total principal long-term debt	$ 850		850
3.750% notes due 2046
Debt Instrument [Line Items]
Debt instrument, stated percentage	3.75%	3.75%
Total principal long-term debt	$ 1,100		1,100
4.050% notes due 2047
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.05%	4.05%
Total principal long-term debt	$ 600		600
4.350% notes due 2047
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.35%	4.35%
Total principal long-term debt	$ 1,000		1,000
4.625% notes due 2048
Debt Instrument [Line Items]
Debt instrument, stated percentage	4.625%	4.625%
Total principal long-term debt	$ 1,750		1,750
3.125% notes due 2050
Debt Instrument [Line Items]
Debt instrument, stated percentage	3.125%	3.125%
Total principal long-term debt	$ 1,000		1,000
2.820% notes due 2051
Debt Instrument [Line Items]
Debt instrument, stated percentage	2.82%	2.82%
Total principal long-term debt	$ 1,000		1,000
3.030% notes due 2052
Debt Instrument [Line Items]
Debt instrument, stated percentage	3.03%	3.03%
Total principal long-term debt	$ 1,100		1,100
5.375% notes due 2053
Debt Instrument [Line Items]
Debt instrument, stated percentage	5.375%	5.375%
Total principal long-term debt	$ 1,250		1,250
6.400% notes due 2054
Debt Instrument [Line Items]
Debt instrument, stated percentage	6.40%	6.40%
Total principal long-term debt	$ 1,750		$ 1,750

Income Taxes (Income Taxes Paid) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Federal	$ 856
State	102
Foreign	649
Income taxes paid, net of refunds	$ 1,607	$ 1,176	$ 1,527

Consolidated Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating Activities:
Net income attributable to common shareholders	$ 7,069	$ 5,013	$ 3,380
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	4,378	4,364	4,211
Deferred income tax provision (benefit)	789	(47)	(402)
Stock compensation cost	519	437	425
Net periodic pension and other postretirement income	(1,011)	(1,326)	(1,555)
Share-based 401(k) matching contributions	573	353	261
Gain on sale of Cybersecurity, Intelligence and Services (CIS) business, net of transaction costs (Note 2)	0	(415)	0
Change in:
Accounts receivable	(3,235)	(175)	(1,805)
Contract assets	(2,643)	(2,414)	(753)
Inventory	(532)	(1,474)	(1,104)
Other current assets	(1,055)	(402)	(1,161)
Accounts payable and accrued liabilities	3,418	1,508	4,016
Contract liabilities	2,773	1,872	2,322
Other operating activities, net	(476)	(135)	48
Net cash flows provided by operating activities	10,567	7,159	7,883
Investing Activities:
Capital expenditures	(2,627)	(2,625)	(2,415)
Payments on customer financing assets	(233)	(218)	(117)
Receipts from customer financing assets	161	202	212
Dispositions of businesses, net of cash transferred	1,931	1,795	6
Increase in other intangible assets	(492)	(611)	(751)
Receipts (payments) from settlements of derivative contracts, net	118	(142)	14
Other investing activities, net	(123)	65	12
Net cash flows used in investing activities	(1,265)	(1,534)	(3,039)
Financing Activities:
Proceeds from long-term debt	0	0	12,914
Repayment of long-term debt	(3,429)	(2,500)	(578)
Proceeds from bridge loan	0	0	10,000
Repayment of bridge loan	0	0	(10,000)
Change in commercial paper, net (Note 9)	0	0	(524)
Dividends paid	(3,574)	(3,217)	(3,239)
Repurchase of common stock	(50)	(444)	(12,870)
Other financing activities, net	(433)	(456)	(230)
Net cash flows used in financing activities	(7,486)	(6,617)	(4,527)
Effect of foreign exchange rate changes on cash and cash equivalents	48	(28)	18
Net increase (decrease) in cash, cash equivalents and restricted cash	1,864	(1,020)	335
Cash, cash equivalents and restricted cash, beginning of year	5,606	6,626	6,291
Cash, cash equivalents and restricted cash, end of year	7,470	5,606	6,626
Less: Restricted cash, included in Other assets, current and Other assets	35	28	39
Cash and cash equivalents, end of year	7,435	5,578	6,587
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of amounts capitalized	1,858	1,942	1,464
Income taxes paid, net of refunds	$ 1,607	$ 1,176	$ 1,527

Financial Instruments (Summary of Derivative Instruments) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Derivative [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, current	Other assets, current
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities	Other accrued liabilities
Other assets, current
Derivative [Line Items]
Derivatives designated as hedging instruments, Asset Derivatives	$ 357	$ 177
Derivatives not designated as hedging instruments, Asset Derivatives	79	10
Other accrued liabilities
Derivative [Line Items]
Derivatives designated as hedging instruments, Liability Derivatives	254	350
Derivatives not designated as hedging instruments, Liability Derivatives	$ 11	$ 101

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Our Cybersecurity Program Given the nature of our business and the cybersecurity risks we face, we have a robust cybersecurity program for identifying, assessing, and managing cybersecurity risks, which include material risks from cybersecurity threats, to our internal systems, our products, services and programs for customers, and our supply chain. Our cybersecurity program is made up of two components: our enterprise cybersecurity program and our cybersecurity program for our products and services. Enterprise Cybersecurity. Our enterprise cybersecurity program aligns with the National Institute of Standards and Technology (NIST) standards. Our program includes processes and controls for the deployment of new IT systems by the Company and controls over new and existing system operation. We monitor and conduct regular testing of these controls and systems, including vulnerability management through active discovery and testing to regularly assess patching and configuration status. In addition, we require our employees and contract workers to complete annual cybersecurity training, and we regularly conduct simulated phishing and cyber-related communications to educate individuals on the latest threats. Product and Services Cybersecurity. Our product development processes apply development, security, and operations principles aligned with applicable government and commercial standards, and include vulnerability scanning and static and dynamic composition analysis. We regularly assess our product development processes, product cyber maturity, and the teams providing our secure services in relation to cybersecurity. In addition, we strive to meet all security requirements mandated by government and commercial customers and adhere to regulatory guidance and standards for system security engineering. Many of our products also undergo industry audits and regulatory compliance certifications, and our products delivered to the U.S. Department of War (DoW) (formerly referred to as the U.S. Department of Defense) must comply with DoW risk management requirements. Cybersecurity for Systems used in Support of U.S. Government Customers. With respect to products and services provided to, and IT systems used in connection with programs for, the U.S. government, our cybersecurity program aligns with the NIST standards and meets the requirements of 32 CFR Part 117 and other applicable U.S. government guidance. The program includes authorization and assessment of new and existing IT systems by our customers and third parties. We monitor use on these systems, including vulnerability management through patching and configuration. In addition, we restrict user access and require authorized users to complete additional user and cybersecurity training. Incident Response. Our cybersecurity program includes monitoring for potential security threats that may lead to exploitation of vulnerabilities. We evaluate and assign severity levels to incidents, escalate and engage incident response teams based on severity, and manage and mitigate the related risks. Incidents are reported internally to members of senior management and the Board of Directors as appropriate based on severity and incident type and are also analyzed for external reporting requirements. Our incident management process is designed to coordinate functions to enable continuity of essential business operation in the event of a cyber crisis. Third-Party Service Providers. We engage third party service providers to expand the capabilities and capacity of our cybersecurity program, including for design, monitoring, and testing of the program’s risk prevention and protection measures, and process execution including incident detection, investigation, analysis and response, eradication, and recovery. Management of Third-Party Risks. Our suppliers, subcontractors, and other third-party service providers are subject to cybersecurity obligations and controls. We assess and periodically reassess the cybersecurity posture of third-party service providers who store, process, or transmit our information as a service, or connect to our networks. We also require our suppliers, subcontractors, and other third-party service providers to agree to cybersecurity-related contractual terms and conditions of purchase. Many of these third parties are also subject to regulatory requirements in mandatory government procurement clauses, including those contained in the Federal Acquisition Regulation (FAR) and the Defense Federal Acquisition Regulation Supplement (DFARS). Among other things, mandatory government procurement clauses obligate adherence to a generally accepted cybersecurity framework, such as NIST, and occasional assessment of the implementation of cybersecurity controls as a condition of contract award or during contract performance. Finally, we require these third parties to notify us of cybersecurity incidents that impact us. Program Assessment. We continuously evaluate and seek to improve and mature our cybersecurity processes. Our cybersecurity program is regularly assessed through management self-evaluation and ongoing monitoring procedures to evaluate our program effectiveness, including assessments associated with internal controls over financial reporting as well as vulnerability management through active discovery and testing to validate patching and configuration. Additionally, our Internal Audit function regularly assesses our program effectiveness through audits of our systems and processes to help maintain compliance with policies. As cybersecurity threats are continuously evolving, we also periodically engage with third parties to perform maturity assessments of our program to identify potential risk areas and improvement opportunities. This includes assessment of our overall program, policies and processes, compliance with regulatory requirements, and assessment of key vulnerabilities. We use these assessments to supplement our own evaluation of the overall health of our program and target improvement areas. Several external organizations also evaluate our enterprise cybersecurity program, including the Defense Contract Management Agency (DCMA) and Cybersecurity Maturity Model Certification Third-Party Assessment Organizations. Moreover, some of our products are audited or reviewed for regulatory compliance certification pursuant to the relevant DoW risk management framework. Our cybersecurity risk processes are a key element of our Enterprise Risk Management (ERM) process, which is designed to identify and evaluate the full range of significant risks to RTX. As part of our ERM program, RTX’s functional and operations departments identify and manage enterprise risks on an annual cycle. The process consists of structured reviews, discussions, and mitigation planning, and includes risks identified by our Enterprise Cybersecurity and Product Cybersecurity functions as part of the overall review of significant risks to RTX. The top ERM risks are compiled annually and shared with the Audit Committee of the Board of Directors as well as the full Board of Directors. In addition, Internal Audit incorporates these risks into its continuous risk assessment process and periodically audits specific ERM risks.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our cybersecurity risk processes are a key element of our Enterprise Risk Management (ERM) process, which is designed to identify and evaluate the full range of significant risks to RTX. As part of our ERM program, RTX’s functional and operations departments identify and manage enterprise risks on an annual cycle. The process consists of structured reviews, discussions, and mitigation planning, and includes risks identified by our Enterprise Cybersecurity and Product Cybersecurity functions as part of the overall review of significant risks to RTX. The top ERM risks are compiled annually and shared with the Audit Committee of the Board of Directors as well as the full Board of Directors. In addition, Internal Audit incorporates these risks into its continuous risk assessment process and periodically audits specific ERM risks.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Board Oversight and Management’s Role Enterprise Cybersecurity. Our Board of Directors has primary oversight responsibility for enterprise cybersecurity risks. The Special Activities Committee of the Board supports the Board in oversight of classified business cybersecurity, including with respect to Company internal information and operational technology systems. The Audit Committee also considers enterprise cybersecurity risks in connection with its financial and compliance risk oversight role. Our global chief information security officer (CISO), under the direction of our chief digital officer, leads our enterprise cybersecurity program and is responsible for assessing and managing enterprise cybersecurity risks. Our CISO regularly updates the Board of Directors on cybersecurity risks as they relate to our information and operational technology systems, our suppliers, and other third-party service providers, in addition to updates on enterprise cybersecurity incidents and key Company defenses and mitigation strategies. Our CISO is an experienced cybersecurity senior executive with more than 25 years’ experience building and leading cybersecurity, risk management, and IT teams. In performing his role, he regularly reviews enterprise cybersecurity risks, controls, program policy, and processes, including training, oversees policy and program development, implementation and updates, and informs senior leadership on cybersecurity-related issues and activities affecting the organization. Our CISO is regularly apprised of enterprise cybersecurity events, threats, and activities, including with respect to incidents, protection vulnerabilities, software update needs, and lifecycle status. Product and Services Cybersecurity. The Special Activities Committee of our Board of Directors has primary oversight responsibility for cybersecurity risks related to our products and services. The full Board of Directors also receives periodic briefings from management regarding the Company’s products and services cybersecurity risks. The Audit Committee also considers product and services cybersecurity risks in connection with its financial and compliance risk oversight role. Our product cybersecurity officer (PCO), under the direction of our chief technology officer, leads our cybersecurity program for our products and services and is responsible for assessing and managing related cybersecurity risks. Our PCO updates the Special Activities Committee on cybersecurity risks as they relate to our products and services, in addition to updates on product and service cybersecurity incidents, defenses, and mitigation strategies. Our PCO is an experienced embedded systems engineer and chief engineer with 20 years’ experience in the development, product assurance, and security of critical and highly regulated embedded and other computer systems in medical, aviation, and military products and services. In performing her role, she regularly reviews cybersecurity risks, controls, program policy and processes, including training, and oversees and advises teams performing policy and program development, implementation, and updates. Our PCO is regularly apprised of product and service cybersecurity events, threats, and activities including with respect to incidents, protection vulnerabilities, software update needs, and lifecycle status.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board of Directors has primary oversight responsibility for enterprise cybersecurity risks. The Special Activities Committee of the Board supports the Board in oversight of classified business cybersecurity, including with respect to Company internal information and operational technology systems. The Audit Committee also considers enterprise cybersecurity risks in connection with its financial and compliance risk oversight role.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our CISO regularly updates the Board of Directors on cybersecurity risks as they relate to our information and operational technology systems, our suppliers, and other third-party service providers, in addition to updates on enterprise cybersecurity incidents and key Company defenses and mitigation strategies.
Cybersecurity Risk Role of Management [Text Block]	Our global chief information security officer (CISO), under the direction of our chief digital officer, leads our enterprise cybersecurity program and is responsible for assessing and managing enterprise cybersecurity risks. Our CISO regularly updates the Board of Directors on cybersecurity risks as they relate to our information and operational technology systems, our suppliers, and other third-party service providers, in addition to updates on enterprise cybersecurity incidents and key Company defenses and mitigation strategies. Our CISO is an experienced cybersecurity senior executive with more than 25 years’ experience building and leading cybersecurity, risk management, and IT teams. In performing his role, he regularly reviews enterprise cybersecurity risks, controls, program policy, and processes, including training, oversees policy and program development, implementation and updates, and informs senior leadership on cybersecurity-related issues and activities affecting the organization. Our CISO is regularly apprised of enterprise cybersecurity events, threats, and activities, including with respect to incidents, protection vulnerabilities, software update needs, and lifecycle status.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our global chief information security officer (CISO), under the direction of our chief digital officer, leads our enterprise cybersecurity program and is responsible for assessing and managing enterprise cybersecurity risks. Our CISO regularly updates the Board of Directors on cybersecurity risks as they relate to our information and operational technology systems, our suppliers, and other third-party service providers, in addition to updates on enterprise cybersecurity incidents and key Company defenses and mitigation strategies.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CISO is an experienced cybersecurity senior executive with more than 25 years’ experience building and leading cybersecurity, risk management, and IT teams.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our CISO is regularly apprised of enterprise cybersecurity events, threats, and activities, including with respect to incidents, protection vulnerabilities, software update needs, and lifecycle status.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	231
Number of shares available for grant (in shares)	101
Unrecognized compensation cost	$ 340
Unrecognized compensation cost, period	2 years 3 months 18 days
Fair value of awards vested	$ 437	$ 447	$ 273
Stock Options/Stock Appreciation Rights SARS
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value for options (in dollars per share)	$ 36.37	$ 21.72	$ 24.66
Intrinsic value for options	$ 553	$ 245	$ 46
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award	10 years
Vesting period	3 years
Minimum award vesting period after retirement	1 year
Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of award	10 years
Vesting period	3 years
Minimum award vesting period after retirement	1 year
Weighted-average grant date fair value for non-option awards (in dollars per share)	$ 128.78
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum award vesting period after retirement	1 year
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Minimum award vesting period after retirement	1 year
Weighted-average grant date fair value for non-option awards (in dollars per share)	$ 136.10	$ 93.48	$ 96.39
Intrinsic value for non-option awards	$ 520	$ 506	$ 263

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Earnings Per Share [Abstract]
Net income attributable to common shareowners	$ 6,732	$ 4,774	$ 3,195
Basic weighted average number of shares outstanding (in shares)	1,341.4	1,332.1	1,426.0
Stock awards and equity units (share equivalent) (in shares)	15.0	11.5	9.4
Diluted weighted average number of shares outstanding (in shares)	1,356.4	1,343.6	1,435.4
Earnings Per Share attributable to common shareowners:
Basic (in dollars per share)	$ 5.02	$ 3.58	$ 2.24
Diluted (in dollars per share)	$ 4.96	$ 3.55	$ 2.23
Stock awards excluded from the computation of earnings per share (in shares)	1.4	4.8	9.6

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Fair Value Measurements (Financial Instruments not Carried at Fair Value) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Carrying Amount
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt (excluding finance leases)	$ 37,627	$ 40,991
Fair Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt (excluding finance leases)	35,733	37,956
Level 1 \| Fair Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt (excluding finance leases)	0	0
Level 2 \| Fair Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt (excluding finance leases)	34,800	35,180
Level 3 \| Fair Value
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Long-term debt (excluding finance leases)	$ 933	$ 2,776

Goodwill and Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 40,744	$ 40,436
Accumulated Amortization	(17,379)	(15,456)
Indefinite-lived: Trademarks and other	8,480	8,463
Total Gross Amount	49,224	48,899
Collaboration assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	6,234	6,159
Accumulated Amortization	(2,374)	(1,996)
Exclusivity assets
Finite-Lived Intangible Assets [Line Items]
Gross Amount	3,980	3,692
Accumulated Amortization	(258)	(361)
Developed technology and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	1,192	1,197
Accumulated Amortization	(758)	(698)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	29,338	29,388
Accumulated Amortization	$ (13,989)	$ (12,401)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 12: INCOME TAXES

Income Before Income Taxes. The sources of income before income taxes are:


(dollars in millions)	2025		2024		2023
United States (1)	$	5,126	$	3,016	$	938
Foreign	3,607		3,178		2,898
Income before income taxes	$	8,733	$	6,194	$	3,836

(1) 2023 includes the impacts of the Powder Metal Matter.

Provision for Income Taxes. The income tax expense for the years ended December 31 are as follows:


(dollars in millions)	2025		2024		2023
Current:
United States:
Federal	$	59	$	443	$	213
State	99		179		70
Foreign	717		606		575
	875		1,228		858
Future:
United States:
Federal	706		(13)		(411)
State	71		71		(53)
Foreign	12		(105)		62
	789		(47)		(402)
Income tax expense	$	1,664	$	1,181	$	456

Prior to 2022, research and experimental expenditures were generally deductible in the period incurred. A provision enacted in the Tax Cuts and Jobs Act of 2017 (TCJA) related to the capitalization of research and experimental expenditures for tax purposes became effective on January 1, 2022. In September and December 2023, the IRS issued interim guidance, retroactive to 2022, clarifying the capitalization requirements for certain types of research and experimental expenditures, which resulted in fewer costs being subject to capitalization. On July 4, 2025, “An Act to Provide for Reconciliation Pursuant to Title II of the H. Con. Res. 14” (the Act) was enacted. The Act allows for the immediate deductibility of research and experimental expenditures performed in the United States and certain U.S. territories. These legislative changes have impacted our federal and state current and deferred income tax provisions in the above table.

Reconciliation of Effective Income Tax Rate. The Company adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, prospectively as of January 1, 2025. Differences between effective income tax rates and the statutory U.S. federal income tax rate are as follows:


	2025
(dollars in millions)	Amount		Rate

Statutory U.S. Federal Income Tax Rate	$	1,834	21.0	%
State and Local Income Tax, net of federal income tax effect (1)	168		1.9
Foreign Tax Effects	(17)		(0.2)

Effect of Cross-Border Tax Laws	96		1.1
U.S. Federal Research and development tax credit	(182)		(2.1)

Nontaxable or Nondeductible Items	51		0.6
Worldwide Changes in Prior Year Unrecognized Tax Benefits(2)	(83)		(0.9)
Other (3)	(203)		(2.3)





Effective income tax rate	$	1,664	19.1	%

(1) State and local taxes include current and deferred income taxes exclusive of changes in prior year uncertain tax positions.

(2) Includes Federal, State, and Foreign income tax effects related to prior year uncertain tax positions.

(3) Includes Federal income tax benefits related to legal entity reorganizations.


	2024					2023
(dollars in millions)		Amount		Rate			Amount		Rate
Statutory U.S. federal income tax rate		$	1,301	21.0	%		$	805	21.0	%
Tax on international activities		6		0.1			(27)		(0.7)

Disposals of businesses		126		2.0			—		—
U.S. research and development credit		(188)		(3.0)			(168)		(4.4)
U.S. federal audit settlements and statute lapse		(277)		(4.5)			(59)		(1.5)
State income tax, net		187		3.0			17		0.4
Foreign Derived Intangible Income		(126)		(2.0)			(142)		(3.7)
Non-deductible legal charges (1)		148		2.4			5		0.1

Other		4		0.1			25		0.7
Effective income tax rate		$	1,181	19.1	%		$	456	11.9	%

(1) 2024 includes the impact of certain non-deductible legal charges related to the Resolution of Certain Legal Matters. See “Note 17: Commitments and Contingencies” for additional information.

Although the 2025 and 2024 effective tax rates are the same, the 2025 effective rate reflects a lower U.S. tax benefit associated with Foreign Derived Intangible Income resulting from the Act. Both periods include tax benefits associated with certain legal entity reorganizations and the tax effects of dispositions.

The 2024 effective tax rate includes tax benefits of $0.3 billion resulting from the conclusion of the examination phases of the U.S. federal income tax audits for RTX 2017 and 2018 tax years and Rockwell Collins 2016, 2017, and 2018 tax years. Also included in the 2024 effective tax rate is a $0.2 billion tax charge related to U.S. federal income taxes owed by the Company resulting from a favorable non-U.S. tax ruling Otis received in 2024. The ruling Otis received reduces U.S. foreign tax credits previously claimed by the Company in pre-separation tax years. This item is subject to a tax matters agreement entered into with Carrier and Otis in connection with the separations of those businesses in 2020. Accordingly, the Company recorded a pre-tax benefit of $0.2 billion for a portion of the indemnity owed by Otis to the Company for the reduction in foreign taxes in the pre-separation years. Additionally, the Company is indemnified by Otis for the associated interest related to the Otis non-US ruling.

The 2023 effective tax rate includes a deferred tax benefit of $0.7 billion associated with the $2.9 billion Powder Metal Matter pre-tax charge.

Income Taxes Paid. We made net income tax payments of $1.6 billion in 2025, further disaggregated as follows:


(dollars in millions)	2025

Federal (1)	$	856
State	102







Foreign (2)	649
Total income taxes paid (net of refunds)	$	1,607

(1) Includes Internal Revenue Code Section 965 installment payments

(2) Foreign payments are spread across various jurisdictions, none of which are individually significant

Deferred Tax Assets and Liabilities. The tax effects of temporary differences and tax carryforwards which gave rise to future income tax benefits and payables at December 31, 2025 and 2024 are as follows:


(dollars in millions)	2025		2024
Future income tax benefits:
Insurance and employee benefits	$	865	$	897


Warranty provisions	226		221
Capitalization of research and experimental expenditures	1,839		2,208
Other basis differences	982		1,060
Powder Metal Matter	226		455
Tax loss and other carryforwards	1,094		1,055
Tax credit carryforwards	963		800
Valuation allowances	(1,431)		(1,439)
Total future income tax benefits	$	4,764	$	5,257
Future income taxes payable:
Goodwill and Intangible assets	$	5,399	$	5,675
Fixed assets	1,712		1,614
Inventory and contract balances	572		193
Other basis differences	629		627
Total future income tax payable	$	8,312	$	8,109

Valuation allowances have been established primarily for tax credit carryforwards, tax loss carryforwards, and certain temporary differences to reduce the future income tax benefits to expected realizable amounts.

Changes to valuation allowances consisted of the following:


(dollars in millions)	2025		2024		2023
Balance at January 1	$	1,439	$	1,465	$	842
Additions charged to income tax expense	68		228		170
Reductions credited to income tax expense	(67)		(239)		(58)
Other adjustments (1)	(9)		(15)		511
Balance at December 31	$	1,431	$	1,439	$	1,465

(1) 2023 includes the addition of the indefinite-lived tax loss carryforwards now disclosed in connection with Organisation for Economic Co-operation and Development (OECD) Pillar Two.

Tax Credit, Loss and Other Carryforwards. At December 31, 2025, tax credit carryforwards, principally state and foreign, and tax loss carryforwards, principally state and foreign, were as follows:


(dollars in millions)	Tax Credit Carryforwards		Tax Loss and Other Carryforwards
Expiration period:
2026-2030	$	56	$	295
2031-2035	52		90
2036-2045	156		1,714
Indefinite	699		3,773
Total	$	963	$	5,872

The Company intends to repatriate certain undistributed earnings of its international subsidiaries that have been previously taxed in the U.S. As such, we recorded the taxes associated with the future remittance of these earnings. For the remainder of the Company’s undistributed international earnings, unless tax effective to repatriate, the Company will continue to permanently reinvest these earnings. It is not practicable to estimate the amount of tax that might be payable on the remaining amounts.

Unrecognized Tax Benefits. In the ordinary course of business, there is inherent uncertainty in quantifying our income tax positions. We assess our income tax positions and record tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances, and information available at the reporting date. At December 31, 2025, we had gross tax-effected unrecognized tax benefits of $1,227 million, of which $1,218 million, if recognized, would impact the effective tax rate. A reconciliation of the beginning and ending amounts of unrecognized tax benefits and interest expense related to unrecognized tax benefits for the years ended December 31, 2025, 2024, and 2023 is as follows:


(dollars in millions)	2025		2024		2023
Balance at January 1	$	1,263	$	1,442	$	1,515
Additions for tax positions related to the current year	125		84		89
Additions for tax positions of prior years	19		164		5
Reductions for tax positions of prior years	(47)		(13)		(141)
Settlements	(133)		(414)		(26)
Balance at December 31	$	1,227	$	1,263	$	1,442
Gross interest expense related to unrecognized tax benefits	$	68	$	127	$	62
Total accrued interest balance at December 31	256		255		233

We conduct business globally and, as a result, RTX or one or more of our subsidiaries files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world, including such major jurisdictions as Canada, China, France, Germany, India, Poland, Saudi Arabia, Singapore, Switzerland, the United Kingdom, and the United States. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations for years before 2014.

In connection with certain Internal Revenue Service (IRS) audits, the Company has previously filed protests with respect to certain IRS proposed adjustments for RTX (formerly United Technologies Corporation) tax years 2017 and 2018, pre-acquisition Rockwell Collins tax years 2016, 2017, and 2018, and pre-merger Raytheon Company tax years 2017, 2018, and 2019 as well as certain refund claims of Raytheon Company for tax years 2014, 2015, and 2016 filed prior to the Raytheon merger. The Company is in the process of disputing these adjustments at the Appeals Division of the IRS. The Company expects resolution at the Appeals Division for the RTX and Rockwell tax years within the next twelve months. The timing of any resolution at the Appeals Division for the Raytheon Company tax years is uncertain.

During the quarter ended March 31, 2025, the Company received an unfavorable decision from the Appeals Committee of the Kingdom of Saudi Arabia (KSA) General Secretariat of the Tax Committees (GSTC) assessing taxes and delay fines. The Company appealed this decision and on December 2, 2025, the GSTC issued a final decision with respect to income tax and withholding tax assessments substantially reversing its prior assessment.

- Definition

The entire disclosure for income tax.

+ References

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+ Details

Goodwill and Intangible Assets (Goodwill) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)
Goodwill [Roll Forward]
Goodwill - Beginning balance	$ 52,789
Acquisitions and Divestitures	(255)
Foreign Currency Translation and Other	809
Goodwill - Ending balance	53,343
Operating Segments
Goodwill [Roll Forward]
Goodwill - Beginning balance	52,772
Acquisitions and Divestitures	(255)
Foreign Currency Translation and Other	809
Goodwill - Ending balance	53,326
Operating Segments \| Collins Aerospace
Goodwill [Roll Forward]
Goodwill - Beginning balance	32,223
Acquisitions and Divestitures	(255)
Foreign Currency Translation and Other	808
Goodwill - Ending balance	32,776
Operating Segments \| Pratt & Whitney
Goodwill [Roll Forward]
Goodwill - Beginning balance	1,563
Acquisitions and Divestitures	0
Foreign Currency Translation and Other	0
Goodwill - Ending balance	1,563
Operating Segments \| Raytheon
Goodwill [Roll Forward]
Goodwill - Beginning balance	18,986
Acquisitions and Divestitures	0
Foreign Currency Translation and Other	1
Goodwill - Ending balance	18,987
Eliminations and other
Goodwill [Roll Forward]
Goodwill - Beginning balance	17
Acquisitions and Divestitures	0
Foreign Currency Translation and Other	0
Goodwill - Ending balance	$ 17

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

Inventory, Net (Tables)

12 Months Ended

Dec. 31, 2025

Inventory Disclosure [Abstract]

Schedule of Inventory


(dollars in millions)	2025		2024
Raw materials	$	4,673	$	4,164
Work-in-process	4,554		4,493
Finished goods	4,137		4,111
Total inventory, net	$	13,364	$	12,768

Accounts Receivable, Net (Accounts Receivable, Net) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Accounts Notes And Loans Receivable [Line Items]
U.S. government contracts (including foreign military sales)	$ 1,775	$ 1,132
Allowance for expected credit losses	(340)	(289)
Accounts receivable, net	14,701	10,976
Other Customer
Accounts Notes And Loans Receivable [Line Items]
Other customers	$ 13,266	$ 10,133

Contract Assets and Liabilities (Changes in the Allowance for Expected Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Contract with Customer, Asset, Allowance for Credit Loss [Roll Forward]
Balance as of January 1	$ 491	$ 197	$ 319
Current period provision, changes in estimates, and recoveries, net	185	294	210
Write-offs and other	0	0	(332)
Balance as of December 31	$ 676	$ 491	$ 197

Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Schedule of Accounts Receivable, Net

Accounts receivable, net consisted of the following:


(dollars in millions)	2025		2024
U.S. government contracts (including foreign military sales)	$	1,775	$	1,132
Other customers	13,266		10,133
Allowance for expected credit losses	(340)		(289)
Total accounts receivable, net	$	14,701	$	10,976

Schedule of Changes in Allowance for Expected Credit Losses

The changes in the allowance for expected credit losses related to accounts receivable were as follows:


(dollars in millions)	2025		2024		2023
Balance as of January 1	$	289	$	316	$	452
Current period provision, net of recoveries	64		(14)		(92)
Write-offs	(12)		(7)		(42)
Other, net	(1)		(6)		(2)
Balance as of December 31	$	340	$	289	$	316

Income Taxes (Tax Credit and Tax Loss and Other Carryforwards) (Details) $ in Millions	Dec. 31, 2025 USD ($)
Tax Credit Carryforward [Line Items]
Tax Credit Carryforwards	$ 963
Tax Loss and Other Carryforwards	5,872
2026-2030
Tax Credit Carryforward [Line Items]
Tax Credit Carryforwards	56
Tax Loss and Other Carryforwards	295
2031-2035
Tax Credit Carryforward [Line Items]
Tax Credit Carryforwards	52
Tax Loss and Other Carryforwards	90
2036-2045
Tax Credit Carryforward [Line Items]
Tax Credit Carryforwards	156
Tax Loss and Other Carryforwards	1,714
Indefinite
Tax Credit Carryforward [Line Items]
Tax Credit Carryforwards	699
Tax Loss and Other Carryforwards	$ 3,773

Borrowings and Lines of Credit (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Oct. 24, 2023
Debt Instrument [Line Items]
Remaining borrowing capacity		$ 600
Commercial paper borrowings outstanding		0	$ 0
Bridge loan					$ 10,000
Repayment of bridge loan	$ 10,000	$ 0	$ 0	$ 10,000
Debt weighted average interest rate		4.50%	4.50%
Average maturity of long term debt		12 years
Term Loans
Debt Instrument [Line Items]
Proceeds from issuance of debt				4,000
Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt				6,000
Commercial Paper
Debt Instrument [Line Items]
New borrowings of short-term debt with maturities greater than 90 days		$ 0	$ 0	0
Repayments of short-term debt maturing in greater than 90 days		0	$ 0	$ 200
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		5,000
Borrowings outstanding		0
Commercial Paper
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 5,000

Employee Benefit Plans (Pension and Postretirement Plans) (Narrative) (Details) participant in Thousands, $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2025 USD ($) participant	Dec. 31, 2025 USD ($) participant	Dec. 31, 2025 USD ($) participant	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 45,114	$ 45,114	$ 45,114	$ 46,414
Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit Obligation transferred from the Plan	$ 2,300
Number of participants related to the benefit obligation transferred from the Plan \| participant	60	60	60
Number of participants as a percentage of total participants related to the benefit obligation transferred from the Plan	33.33%	33.33%	33.33%
Non-cash pension settlement charge		$ 300
Percentage of projected benefit obligation comprised of domestic plan benefits	86.00%	86.00%	86.00%	86.00%
Percentage of projected benefit obligation comprised of foreign plan benefits	11.00%	11.00%	11.00%	11.00%
Accumulated benefit obligation	$ 44,200	$ 44,200	$ 44,200	$ 46,100
Hedged percentage of interest rate sensitivity of pension plan liabilities			80.00%
Fair market value of derivatives	(8)	(8)	$ (8)	(120)
Fair value of plan assets	45,114	45,114	45,114	46,414	$ 48,945
Other Postretirement Benefits Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets	$ 330	$ 330	$ 330	$ 314
Minimum \| Income Generating
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocation percentage	54.00%	54.00%	54.00%
Minimum \| Pension Plan \| Growth Seeking
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocation percentage	26.00%	26.00%	26.00%
Maximum \| Income Generating
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocation percentage	74.00%	74.00%	74.00%
Maximum \| Pension Plan \| Growth Seeking
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Target plan asset allocation percentage	46.00%	46.00%	46.00%
Nonqualified Plan \| Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Percentage of projected benefit obligation comprised of domestic plan benefits	3.00%	3.00%	3.00%	3.00%

Commitments and Contingencies (Narrative) (Details) $ in Millions						1 Months Ended						3 Months Ended		12 Months Ended
	Aug. 29, 2026 USD ($)	Oct. 16, 2024 count contract	Oct. 15, 2024	Sep. 30, 2024 USD ($)	Aug. 29, 2024 USD ($)	Aug. 31, 2025 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Apr. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2025 USD ($) claim action	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 11, 2025 claim
Loss Contingencies [Line Items]
Reserve for environmental remediation												$ 800		$ 800	$ 800
Commercial Aerospace financing and other contractual commitments												14,000		13,000	14,000
Operating profit charge														(9,300)	(6,538)	$ (3,561)
Other accrued liabilities												14,831		14,350	14,831
Thales-Raytheon Systems and Related Matters
Loss Contingencies [Line Items]
Payment for loss contingency accrued												384
Thales-Raytheon Systems and Related Matters \| Deferred Prosecution Agreement (DPA-1)
Loss Contingencies [Line Items]
Compliance period			3 years
DOJ Investigation and Contract Pricing Disputes
Loss Contingencies [Line Items]
Payment for loss contingency accrued												580
DOJ Investigation and Contract Pricing Disputes \| Second Deferred Prosecution Agreement (DPA-2)
Loss Contingencies [Line Items]
Compliance period		3 years
Number of counts \| count		2
Number of legacy contracts \| contract		2
2019 U. S. Defense Contract Management Agency Claim Against Pratt Whitney Domain
Loss Contingencies [Line Items]
Damages sought									$ 1,700
Interest on claim														1,500
2019 U.S. Defense Contract Management Agency Second Claim Against Pratt & Whitney
Loss Contingencies [Line Items]
Damages sought				$ 1,100
Interest on claim														410
U.S. Defense Contract Management Agency Claim Against Pratt & Whitney
Loss Contingencies [Line Items]
Damages sought											$ 177
Interest on claim														$ 209
Number of pending claims \| claim														3
U. S. Defense Contract Management Agency Claim Against Pratt Whitney Second Claim
Loss Contingencies [Line Items]
Damages sought										$ 269
Interest on claim														$ 187
U. S. Defense Contract Management Agency Claim Against Pratt Whitney Third Claim
Loss Contingencies [Line Items]
Damages sought								$ 277
Interest on claim														105
Trade Compliance Matters
Loss Contingencies [Line Items]
Loss contingency accrual														$ 218
Trade Compliance Matters \| Consent Agreement
Loss Contingencies [Line Items]
Agreement term					3 years
Damages sought					$ 200
Trade Compliance Matters \| Consent Agreement, Suspensible Portion
Loss Contingencies [Line Items]
Damages sought					100
Trade Compliance Matters \| Consent Agreement, Non-Suspensible Portion
Loss Contingencies [Line Items]
Damages sought					$ 100
Payments for legal settlements						$ 33	$ 34
Trade Compliance Matters \| Consent Agreement, Non-Suspensible Portion \| Forecast
Loss Contingencies [Line Items]
Payments for legal settlements	$ 33
Powder Metal Disclosure
Loss Contingencies [Line Items]
Number of pending claims \| claim																	2
Number of pending civil actions \| action														2
PW1100 GTF Program \| Pratt & Whitney
Loss Contingencies [Line Items]
Operating profit charge													$ 2,900			$ 2,900
Net program share, percent													51.00%
Increase in other accrued liabilities													$ 2,800
Other accrued liabilities												$ 1,700		$ 700	$ 1,700
Other Financing Arrangements
Loss Contingencies [Line Items]
Other commitment														4,200
Industrial Participation Obligations
Loss Contingencies [Line Items]
Other commitment														$ 13,000

Basis of Presentation and Summary of Accounting Principles (Finite-Lived Intangible Assets Estimated Useful Lives) (Details)	Dec. 31, 2025
Collaboration assets \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	9 years
Collaboration assets \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	30 years
Customer relationships and related programs \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years
Customer relationships and related programs \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	25 years
Developed technology and other \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	3 years
Developed technology and other \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	25 years
Patents and trademarks \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	5 years
Patents and trademarks \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	30 years
Exclusivity assets \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	5 years
Exclusivity assets \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life	25 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in our goodwill balances for the year ended December 31, 2025 were as follows:


(dollars in millions)	Balance as of December 31, 2024		Acquisitions and Divestitures		Foreign Currency Translation and Other		Balance as of December 31, 2025
Collins Aerospace	$	32,223	$	(255)	$	808	$	32,776
Pratt & Whitney	1,563		—		—		1,563
Raytheon	18,986		—		1		18,987
Total Segments	52,772		(255)		809		53,326
Eliminations and other	17		—		—		17
Total	$	52,789	$	(255)	$	809	$	53,343

Schedule of Finite-Lived Intangible Assets

Identifiable intangible assets are comprised of the following:


	2025				2024
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:

Collaboration assets	$	6,234	$	(2,374)	$	6,159	$	(1,996)
Exclusivity assets	3,980		(258)		3,692		(361)
Developed technology and other	1,192		(758)		1,197		(698)
Customer relationships	29,338		(13,989)		29,388		(12,401)
	40,744		(17,379)		40,436		(15,456)
Indefinite-lived:
Trademarks and other	8,480		—		8,463		—
Total	$	49,224	$	(17,379)	$	48,899	$	(15,456)

Schedule of Indefinite-Lived Intangible Assets

Identifiable intangible assets are comprised of the following:


	2025				2024
(dollars in millions)	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Amortized:

Collaboration assets	$	6,234	$	(2,374)	$	6,159	$	(1,996)
Exclusivity assets	3,980		(258)		3,692		(361)
Developed technology and other	1,192		(758)		1,197		(698)
Customer relationships	29,338		(13,989)		29,388		(12,401)
	40,744		(17,379)		40,436		(15,456)
Indefinite-lived:
Trademarks and other	8,480		—		8,463		—
Total	$	49,224	$	(17,379)	$	48,899	$	(15,456)

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following is the expected amortization of intangible assets for 2026 through 2030:


(dollars in millions)	2026	2027	2028	2029	2030
Amortization expense	$1,992	$1,896	$1,795	$1,637	$1,628

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 1
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The following tables provide the valuation hierarchy classification of assets and liabilities that are carried at fair value and measured on a recurring basis in our Consolidated Balance Sheet:


	December 31, 2025
(dollars in millions)	Total		Level 1		Level 2		Level 3
Recurring fair value measurements:
Marketable securities held in trusts	$	750	$	676	$	74	$	—
Derivative assets	436		—		436		—
Derivative liabilities	265		—		265		—


	December 31, 2024
(dollars in millions)	Total		Level 1		Level 2		Level 3
Recurring fair value measurements:
Marketable securities held in trusts	$	786	$	721	$	65	$	—
Derivative assets	187		—		187		—
Derivative liabilities	451		—		451		—

Schedule of Financial Instruments not Carried at Fair Value

The following table provides carrying amounts and fair values of financial instruments that are not carried at fair value in our Consolidated Balance Sheet at December 31:


	2025				2024
(dollars in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value


Long-term debt (excluding finance leases)	$	37,627	$	35,733	$	40,991	$	37,956

The following tables provide the valuation hierarchy classification of assets and liabilities that are not carried at fair value in our Consolidated Balance Sheet at December 31:


	2025
(dollars in millions)	Total		Level 1		Level 2		Level 3


Long-term debt (excluding finance leases)	$	35,733	$	—	$	34,800	$	933


	2024
(dollars in millions)	Total		Level 1		Level 2		Level 3


Long-term debt (excluding finance leases)	$	37,956	$	—	$	35,180	$	2,776

Employee Benefit Plans (Plan Assets by Asset Category) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	$ 45,114	$ 46,414
Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	10,859	10,658
Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	12,043	13,662
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	1,249	1,481	$ 1,467
Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	20,188	20,424
Subtotal before Other Assets & Liabilities
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	44,339	46,225
Global Equities
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	5,790	6,208
Global Equities \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	5,781	6,195
Global Equities \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	9	13
Global Equities \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Global Equities \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Global Equity Commingled Funds
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	650	624
Global Equity Commingled Funds \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Global Equity Commingled Funds \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	650	624
Global Equity Commingled Funds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Global Equity Commingled Funds \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other Public Equities
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	2,531	2,431
Other Public Equities \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other Public Equities \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other Public Equities \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other Public Equities \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	2,531	2,431
Private Equities
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	4,987	4,985
Private Equities \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Private Equities \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Private Equities \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Private Equities \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	4,987	4,985
Governments
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	6,960	5,263
Governments \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	5,078	4,462
Governments \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	1,882	801
Governments \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Governments \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Corporate Bonds
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	8,846	11,344
Corporate Bonds \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	1
Corporate Bonds \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	8,846	11,343
Corporate Bonds \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Corporate Bonds \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Structured Products
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	14	27
Structured Products \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Structured Products \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	14	27
Structured Products \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Structured Products \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other Fixed Income
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	10,875	11,259
Other Fixed Income \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other Fixed Income \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other Fixed Income \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other Fixed Income \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	10,875	11,259
Real Estate
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	2,804	3,038
Real Estate \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Real Estate \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Real Estate \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	1,249	1,481
Real Estate \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	1,555	1,557
Other
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	610	626
Other \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	480	513
Other \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Other \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	130	113
Cash and Cash Equivalents
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	272	420
Cash and Cash Equivalents \| Quoted Prices in Active Markets For Identical Assets (Level 1)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Cash and Cash Equivalents \| Significant Observable Inputs (Level 2)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	162	341
Cash and Cash Equivalents \| Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	0	0
Cash and Cash Equivalents \| Not Subject to Leveling
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	110	79
Other Assets & Liabilities
Defined Benefit Plan, Plan Assets, Allocation [Line Items]
Fair value of plan assets	$ 775	$ 189