Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

RTX Corp., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net income (loss) from continuing operations	5,013)	3,380)	5,327)	4,145)	(2,928)
Depreciation and amortization	4,364)	4,211)	4,108)	4,557)	4,156)
Deferred income tax benefit	(47)	(402)	(1,663)	(88)	(99)
Stock compensation cost	437)	425)	420)	442)	330)
Net periodic pension and other postretirement income	(1,326)	(1,555)	(1,413)	(1,414)	(413)
Gain on sale of business, net of transaction costs	(415)	—)	—)	—)	—)
Debt extinguishment costs	—)	—)	—)	649)	—)
Goodwill impairment charge	—)	—)	—)	—)	3,183)
Accounts receivable	(175)	(1,805)	437)	(570)	1,318)
Contract assets	(2,414)	(753)	(234)	(1,594)	63)
Inventory	(1,474)	(1,104)	(1,575)	163)	412)
Other current assets	(402)	(1,161)	(1,027)	(566)	(445)
Accounts payable and accrued liabilities	1,508)	4,016)	2,075)	917)	(1,666)
Contract liabilities	1,872)	2,322)	846)	1,372)	1,129)
Change in operating capital	(1,085)	1,515)	522)	(278)	811)
Other operating activities, net	218)	309)	(133)	(871)	(706)
Adjustments to reconcile income (loss) from continuing operations to net cash flows provided by operating activities	2,146)	4,503)	1,841)	2,997)	7,262)
Net cash flows provided by operating activities	7,159)	7,883)	7,168)	7,142)	4,334)
Capital expenditures	(2,625)	(2,415)	(2,288)	(2,134)	(1,795)
Payments on customer financing assets	(218)	(117)	(150)	(231)	(280)
Receipts from customer financing assets	202)	212)	179)	389)	368)
Investments in businesses	—)	—)	(66)	(1,088)	(419)
Cash acquired in Raytheon merger	—)	—)	—)	—)	3,208)
Dispositions of businesses, net of cash transferred	1,795)	6)	94)	1,879)	2,556)
Increase in other intangible assets	(611)	(751)	(487)	(308)	(312)
(Payments) receipts from settlements of derivative contracts, net	(142)	14)	(205)	(16)	(32)
Other investing activities, net	65)	12)	94)	145)	49)
Net cash flows (used in) provided by investing activities	(1,534)	(3,039)	(2,829)	(1,364)	3,343)
Proceeds from long-term debt	—)	12,914)	1)	4,062)	2,004)
Distribution from discontinued operation	—)	—)	—)	—)	17,207)
Repayment of long-term debt	(2,500)	(578)	(3)	(4,254)	(16,082)
Proceeds from bridge loan	—)	10,000)	—)	—)	—)
Repayment of bridge loan	—)	(10,000)	—)	—)	—)
Debt extinguishment costs	—)	—)	—)	(649)	—)
Change in commercial paper, net	—)	(524)	518)	(160)	160)
Change in other short-term borrowings, net	(4)	87)	(29)	47)	(2,201)
Dividends paid on common stock	(3,217)	(3,239)	(3,128)	(2,957)	(2,732)
Repurchase of common stock	(444)	(12,870)	(2,803)	(2,327)	(47)
Net transfer to discontinued operations	—)	—)	—)	(71)	(2,033)
Other financing activities, net	(452)	(317)	(415)	(447)	(136)
Net cash flows used in financing activities	(6,617)	(4,527)	(5,859)	(6,756)	(3,860)
Net cash used in operating activities	—)	—)	—)	(71)	(728)
Net cash used in investing activities	—)	—)	—)	—)	(241)
Net cash provided by (used in) financing activities	—)	—)	—)	71)	(1,414)
Net cash used in discontinued operations	—)	—)	—)	—)	(2,383)
Effect of foreign exchange rate changes on cash and cash equivalents	(28)	18)	(42)	(1)	(22)
Net increase (decrease) in cash, cash equivalents and restricted cash	(1,020)	335)	(1,562)	(979)	1,412)
Cash, cash equivalents and restricted cash, beginning of year	6,626)	6,291)	7,853)	8,832)	7,420)
Cash, cash equivalents and restricted cash, end of year	5,606)	6,626)	6,291)	7,853)	8,832)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

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Cash flow statement item	Description	The company
Net cash flows provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	RTX Corp. net cash flows provided by operating activities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
Net cash flows (used in) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	RTX Corp. net cash flows (used in) provided by investing activities decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Net cash flows used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	RTX Corp. net cash flows used in financing activities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

RTX Corp. (NYSE:RTX)

Cash Flow Statement