RTX Corp., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Land	743)	744)	765)	773)	447)
Buildings and improvements	8,151)	7,519)	7,271)	7,067)	6,673)
Machinery, tools and equipment	18,904)	17,479)	16,729)	15,994)	16,353)
Other, including assets under construction	3,594)	3,374)	2,872)	2,512)	2,213)
Fixed assets, gross	31,392)	29,116)	27,637)	26,346)	25,686)
Accumulated depreciation	(15,644)	(13,946)	(12,665)	(11,384)	(12,931)
Fixed assets, net	15,748)	15,170)	14,972)	14,962)	12,755)

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Item	Description	The company
Fixed assets, gross	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	RTX Corp. fixed assets, gross increased from 2021 to 2022 and from 2022 to 2023.
Fixed assets, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	RTX Corp. fixed assets, net increased from 2021 to 2022 and from 2022 to 2023.

RTX Corp., asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	51.04%	49.15%	47.13%	44.52%	51.23%
Estimated total useful life (years)	17	15	15	14	17
Estimated age, time elapsed since purchase (years)	9	8	7	6	9
Estimated remaining life (years)	8	8	8	8	8

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	RTX Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	RTX Corp. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	RTX Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		RTX Corp. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	15,644)	13,946)	12,665)	11,384)	12,931)
Fixed assets, gross	31,392)	29,116)	27,637)	26,346)	25,686)
Land	743)	744)	765)	773)	447)
Asset Age Ratio
Average age¹	51.04%	49.15%	47.13%	44.52%	51.23%

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Fixed assets, gross – Land)
= 100 × 15,644 ÷ (31,392 – 743) = 51.04%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	RTX Corp. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Fixed assets, gross	31,392)	29,116)	27,637)	26,346)	25,686)
Land	743)	744)	765)	773)	447)
Depreciation expense related to Fixed assets, net	1,800)	1,843)	1,828)	1,767)	1,506)
Asset Age Ratio (Years)
Estimated total useful life¹	17	15	15	14	17

2023 Calculations

¹ Estimated total useful life = (Fixed assets, gross – Land) ÷ Depreciation expense related to Fixed assets, net
= (31,392 – 743) ÷ 1,800 = 17

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	RTX Corp. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	15,644)	13,946)	12,665)	11,384)	12,931)
Depreciation expense related to Fixed assets, net	1,800)	1,843)	1,828)	1,767)	1,506)
Asset Age Ratio (Years)
Time elapsed since purchase¹	9	8	7	6	9

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense related to Fixed assets, net
= 15,644 ÷ 1,800 = 9

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	RTX Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Fixed assets, net	15,748)	15,170)	14,972)	14,962)	12,755)
Land	743)	744)	765)	773)	447)
Depreciation expense related to Fixed assets, net	1,800)	1,843)	1,828)	1,767)	1,506)
Asset Age Ratio (Years)
Estimated remaining life¹	8	8	8	8	8

2023 Calculations

¹ Estimated remaining life = (Fixed assets, net – Land) ÷ Depreciation expense related to Fixed assets, net
= (15,748 – 743) ÷ 1,800 = 8

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Asset age ratio	Description	The company
Estimated remaining life		RTX Corp. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

RTX Corp. (NYSE:RTX)

Analysis of Property, Plant and Equipment