Summary
United Technologies Corporation (UTC) in its 2013 10-K filing presents a diversified business portfolio spanning aerospace and building systems. The company highlights significant strategic organizational changes, including the formation of UTC Building & Industrial Systems and the integration of Goodrich Corporation into UTC Aerospace Systems, aiming to enhance customer solutions and innovation. Financially, the company emphasizes its global reach with 62% of consolidated sales from international operations. Key business segments include Otis (elevators/escalators), UTC Climate, Controls & Security (HVAC, security, fire safety), Pratt & Whitney (aircraft engines), UTC Aerospace Systems, and Sikorsky (helicopters). The filing also touches upon substantial research and development investments, with $2.5 billion in self-funded R&D and $2.2 billion in government-funded R&D for 2013, underscoring a commitment to technological advancement.
Financial Highlights
52 data points| Revenue | $56.60B |
| Cost of Revenue | $30.05B |
| Gross Profit | $26.55B |
| R&D Expenses | $2.34B |
| SG&A Expenses | $6.36B |
| Operating Expenses | $49.17B |
| Operating Income | $8.55B |
| Net Income | $5.72B |
| EPS (Basic) | $6.35 |
| EPS (Diluted) | $6.25 |
| Shares Outstanding (Basic) | 901.00M |
| Shares Outstanding (Diluted) | 915.10M |
Key Highlights
- 1The company completed significant organizational restructuring by forming UTC Building & Industrial Systems and integrating Goodrich into UTC Aerospace Systems, aiming for improved efficiency and customer offerings.
- 2UTC maintains a strong global presence, with 62% of its consolidated sales generated from international operations.
- 3The company's diversified business segments include Otis, UTC Climate, Controls & Security, Pratt & Whitney, UTC Aerospace Systems, and Sikorsky, serving both commercial and government sectors.
- 4A substantial investment in Research and Development ($2.5 billion self-funded and $2.2 billion government-funded in 2013) indicates a focus on innovation and future product development.
- 5The filing details various legal proceedings and government contract risks, including a $55 million civil penalty related to export violations, highlighting potential regulatory and compliance challenges.
- 6Significant backlog figures are reported across segments, with Pratt & Whitney ($38.5 billion) and Sikorsky ($14.9 billion) showing robust order books, indicating future revenue potential.