Summary
This filing is an amendment (10-K/A) to United Technologies Corporation's (UTC) 2018 annual report, filed on April 4, 2019. The amendment serves to include previously omitted information regarding equity compensation plans, specifically detailing shares outstanding under these plans and those available for future issuance as of December 31, 2018. This information is crucial for understanding potential dilution and executive compensation structures. Investors should note that the primary purpose of this amendment is administrative, correcting an omission rather than introducing new financial performance data. The details provided relate to stock options, stock appreciation rights, restricted stock units, and performance share units across various company plans, including those assumed from the Rockwell Collins acquisition. The majority of outstanding awards are under the UTC 2018 Long-Term Incentive Plan (LTIP), with a significant number of shares remaining available for future grants, indicating a continued focus on performance-based and long-term incentives for management and employees.
Financial Highlights
52 data points| Revenue | $34.70B |
| R&D Expenses | $1.88B |
| SG&A Expenses | $2.86B |
| Operating Expenses | $32.21B |
| Operating Income | $2.88B |
| Interest Expense | $1.03B |
| Net Income | $5.27B |
| EPS (Basic) | $6.58 |
| EPS (Diluted) | $6.50 |
| Shares Outstanding (Basic) | 800.40M |
| Shares Outstanding (Diluted) | 810.10M |
Key Highlights
- 1Amendment corrects an omission in the original 10-K filing, specifically regarding equity compensation plan information.
- 2As of December 31, 2018, there were 9,690,000 securities to be issued under approved equity compensation plans, with a weighted-average exercise price of $99.12 for options/warrants/rights.
- 3A substantial number of securities (57,752,000) remained available for future issuance under approved equity compensation plans as of December 31, 2018.
- 4The United Technologies Corporation 2018 Long-Term Incentive Plan (2018 LTIP) is a significant component of the equity compensation, comprising most outstanding awards.
- 5Awards under the LTIPs include stock options, stock appreciation rights (SARs), restricted stock units (RSUs), and performance share units (PSUs).
- 6The company assumed equity plans from Rockwell Collins, Inc., which contribute to the total number of shares issuable under non-approved plans.
- 7For SARs, the potential number of shares to be issued was calculated using the NYSE closing price of $106.48 on December 31, 2018.