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United Technologies Corp. (UTX) filed Annual Report for the period ended 2011-12-31.
United Technologies Corp. has a market cap of $72.74 billion; its shares were traded at around $81.74 with a P/E ratio of 14.5 and P/S ratio of 1.3. The dividend yield of United Technologies Corp. stocks is 2.4%. United Technologies Corp. had an annual average earning growth of 10.4% over the past 10 years. GuruFocus rated United Technologies Corp. the business predictability rank of 5-star.
This is the annual revenues and earnings per share of UTX over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of UTX.
Highlight of Business Operations:
Sales generated by Otis’ international operations were 83 percent and 82 percent of total Otis segment sales in 2011 and 2010, respectively. At December 31, 2011, Otis’ backlog was $14.3 billion as compared to $13.9 billion at December 31, 2010. Of the total Otis backlog at December 31, 2011, approximately $8.0 billion is expected to be realized as sales in 2012.Sales generated by Pratt & Whitney’s international operations, including U.S. export sales, were 54 percent and 52 percent of total Pratt & Whitney segment sales in 2011 and 2010, respectively. At December 31, 2011, Pratt & Whitney’s backlog was $22.4 billion, including $5.3 billion of U.S. government-funded contracts and subcontracts. At December 31, 2010, these amounts were $23.5 billion and $5.1 billion, respectively. Of the total Pratt & Whitney backlog at December 31, 2011, approximately $4.6 billion is expected to be realized as sales in 2012. Pratt & Whitney’s backlog includes certain contracts for which actual costs may ultimately exceed total sales. Pratt & Whitney’s backlog excludes orders for new commercial engines that have not yet achieved full aviation authority certification. See Note 1 to the Consolidated Financial Statements in our 2011 Annual Report for a description of our accounting for long-term contracts.
Sales generated by Hamilton Sundstrand’s international operations, including U.S. export sales, were 49 percent of total Hamilton Sundstrand segment sales in both 2011 and 2010. At December 31, 2011, Hamilton Sundstrand’s backlog was $5.4 billion, including $901 million of U.S. government-funded contracts and subcontracts. At December 31, 2010, these amounts were $5.1 billion and $719 million, respectively. Of the total Hamilton Sundstrand backlog at December 31, 2011, approximately $2.8 billion is expected to be realized as sales in 2012. See Note 1 to the Consolidated Financial Statements in our 2011 Annual Report for a description of our accounting for long-term contracts.
Sales to the U.S. government were 68 percent of total Sikorsky segment sales in both 2011 and 2010. Sales generated by Sikorsky’s international operations, including U.S. export sales, were 34 percent and 33 percent of total Sikorsky segment sales in 2011 and 2010, respectively. At December 31, 2011, Sikorsky’s backlog was $9.4 billion, including $4.1 billion of U.S. government-funded contracts and subcontracts. At December 31, 2010, these amounts were $9.3 billion and $4.2 billion, respectively. Of the total Sikorsky backlog at December 31, 2011, approximately $4.9 billion is expected to be realized as sales in 2012.
Because changes in technology can have a significant impact on our operations and competitive position, we spend substantial amounts of our own funds on research and development. These expenditures, which are charged to expense as incurred, were $2.1 billion or 3.5 percent of total sales in 2011, as compared with $1.7 billion or 3.2 percent of total sales in 2010 and $1.6 billion or 3.0 percent of total sales in 2009. We also perform research and development work under contracts funded by the U.S. government and other customers. This contract research and development, which is performed in our aerospace businesses, amounted to $1.9 billion in 2011, as compared to $2.0 billion in 2010 and $2.1 billion in 2009. These contract research and development costs include amounts that are expensed as incurred, through cost of products sold, and amounts that are capitalized into inventory to be subsequently recovered through production shipments. Of the total contract research and development costs, $1.8 billion, $1.9 billion and $2.1 billion were expensed in 2011, 2010 and 2009, respectively. The remaining costs have been capitalized.
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