UNITED TECHNOLOGIES CORP /DE/ | 2013 | FY | 3


SEGMENT FINANCIAL DATA
Our operations for the periods presented herein are classified into five principal segments. The segments are generally determined based on the management structure of the businesses and the grouping of similar operating companies, where each management organization has general operating autonomy over diversified products and services.
Otis products include elevators, escalators, moving walkways and service sold to customers in the commercial and residential property industries around the world.
UTC Climate, Controls & Security products and related services include HVAC and refrigeration systems, building controls and automation, fire and special hazard suppression systems and equipment, security monitoring and rapid response systems, provided to a diversified international customer base principally in the industrial, commercial and residential property and commercial transportation sectors.
Pratt & Whitney products include commercial, military, business jet and general aviation aircraft engines, parts and services, industrial gas turbines, sold to a diversified customer base, including international and domestic commercial airlines and aircraft leasing companies, aircraft manufacturers, and U.S. and foreign governments. Pratt & Whitney also provides product support and a full range of overhaul, repair and fleet management services and produces land-based power generation equipment.
Effective July 1, 2012, the auxiliary power unit business (APU) of the UTC Aerospace Systems business segment was transferred to the Pratt & Whitney business segment. The APU business designs and manufactures a variety of products for commercial and military aircraft. Annual sales for the APU business are approximately $600 million. The reclassification has been made prospectively; prior year results have not been restated for the transfer of the business.
UTC Aerospace Systems provides aerospace products and aftermarket services for commercial, military, business jet and general aviation customers worldwide. Products include electric power generation, management and distribution systems, flight control systems, engine control systems, intelligence, surveillance and reconnaissance systems, engine components, environmental control systems, fire protection and detection systems, propeller systems, aircraft nacelles, and interior, actuation, landing and electronic systems.
Sikorsky products include military and commercial helicopters, aftermarket helicopter and aircraft parts and services.
We have reported our financial and operational results for the periods presented herein under the five principal segments noted above, consistent with how we have reviewed our business operations for decision-making purposes, resource allocation and performance assessment during 2013.
Segment Information. Total sales by segment include intersegment sales, which are generally made at prices approximating those that the selling entity is able to obtain on external sales. Segment information for the years ended December 31 is as follows:
 
 
Net Sales
 
Operating Profits
(dollars in millions)
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Otis
 
$
12,484

 
$
12,056

 
$
12,437

 
$
2,590

 
$
2,512

 
$
2,815

UTC Climate, Controls & Security
 
16,809

 
17,090

 
18,864

 
2,590

 
2,425

 
2,212

Pratt & Whitney
 
14,501

 
13,964

 
12,711

 
1,876

 
1,589

 
1,867

UTC Aerospace Systems
 
13,347

 
8,334

 
4,760

 
2,018

 
944

 
759

Sikorsky
 
6,253

 
6,791

 
7,355

 
594

 
712

 
840

Total segment
 
63,394

 
58,235

 
56,127

 
9,668

 
8,182

 
8,493

Eliminations and other
 
(768
)
 
(527
)
 
(373
)
 
22

 
(72
)
 
(228
)
General corporate expenses
 

 

 

 
(481
)
 
(426
)
 
(419
)
Consolidated
 
$
62,626

 
$
57,708

 
$
55,754

 
$
9,209

 
$
7,684

 
$
7,846


 
 
Total Assets
 
Capital Expenditures
 
Depreciation & Amortization
(dollars in millions)
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Otis
 
$
9,354

 
$
8,866

 
$
8,717

 
$
122

 
$
141

 
$
75

 
$
209

 
$
220

 
$
223

UTC Climate, Controls & Security
 
21,543

 
22,253

 
21,630

 
266

 
265

 
305

 
380

 
418

 
432

Pratt & Whitney
 
17,062

 
15,938

 
10,705

 
617

 
462

 
290

 
319

 
324

 
332

UTC Aerospace Systems
 
35,461

 
35,589

 
8,593

 
510

 
367

 
163

 
761

 
412

 
172

Sikorsky
 
5,762

 
4,975

 
4,628

 
119

 
94

 
92

 
85

 
85

 
84

Total segment
 
89,182

 
87,621

 
54,273

 
1,634

 
1,329

 
925

 
1,754

 
1,459

 
1,243

Eliminations and other
 
1,412

 
1,788

 
7,179

 
54

 
60

 
4

 
67

 
65

 
20

Consolidated
 
$
90,594

 
$
89,409

 
$
61,452

 
$
1,688

 
$
1,389

 
$
929

 
$
1,821

 
$
1,524

 
$
1,263


Geographic External Sales and Operating Profit. Geographic external sales and operating profits are attributed to the geographic regions based on their location of origin. U.S. external sales include export sales to commercial customers outside the U.S. and sales to the U.S. Government, commercial and affiliated customers, which are known to be for resale to customers outside the U.S. Long-lived assets are net fixed assets attributed to the specific geographic regions. 
 
 
External Net Sales
 
Operating Profits
 
Long-Lived Assets
(dollars in millions)
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
United States Operations
 
$
35,994

 
$
32,175

 
$
28,993

 
$
4,780

 
$
3,663

 
$
4,264

 
$
4,483

 
$
4,311

 
$
2,974

International Operations
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Europe
 
12,652

 
11,823

 
12,344

 
2,419

 
2,100

 
2,089

 
1,796

 
1,804

 
1,210

Asia Pacific
 
8,696

 
8,733

 
9,016

 
1,773

 
1,648

 
1,429

 
957

 
947

 
883

Other
 
5,274

 
4,964

 
5,376

 
696

 
772

 
711

 
1,203

 
1,122

 
760

Eliminations and other
 
10

 
13

 
25

 
(459
)
 
(499
)
 
(647
)
 
427

 
334

 
374

Consolidated
 
$
62,626

 
$
57,708

 
$
55,754

 
$
9,209

 
$
7,684

 
$
7,846

 
$
8,866

 
$
8,518

 
$
6,201


Sales from U.S. operations include export sales as follows: 
(dollars in millions)
 
2013
 
2012
 
2011
Europe
 
$
4,489

 
$
3,117

 
$
2,284

Asia Pacific
 
4,517

 
2,998

 
2,448

Other
 
3,165

 
3,086

 
2,989

 
 
$
12,171

 
$
9,201

 
$
7,721


Major Customers. Net Sales include sales under prime contracts and subcontracts to the U.S. Government, primarily related to Pratt & Whitney, UTC Aerospace Systems and Sikorsky products, as follows:
(dollars in millions)
 
2013
 
2012
 
2011
Pratt & Whitney
 
$
3,559

 
$
3,718

 
$
2,995

UTC Aerospace Systems
 
2,530

 
1,742

 
1,021

Sikorsky
 
3,648

 
4,512

 
4,967

Other
 
142

 
126

 
125

 
 
$
9,879

 
$
10,098

 
$
9,108


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