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United Technologies 2018 Annual Report

Financials at a Glance

United Technologies provides high-technology products and services to the aerospace and commercial building industries worldwide. In 2018 UTC net sales were $66.5 billion.


  • Adjusted net sales1

    (dollars in billions)
    57.9
    56.5
    57.4
    60.2
    66.5
    14 15 16 17 18

  • Adjusted diluted earnings per common share from continuing operations1

    (dollars per share)
    6.46
    6.30
    6.61
    6.65
    7.61
    14 15 16 17 18

  • Cash flow from operations

    (dollars in billions)
    7.0
    6.8
    6.4
    5.6
    6.3
    14 15 16 17 18

  • Research and development2

    (dollars in billions)
    4.5
    3.8
    3.8
    3.9
    4.0
    14 15 16 17 18

  • Dividends paid per common share

    (dollars per share)
    2.36
    2.56
    2.62
    2.72
    2.84
    14 15 16 17 18

  • Debt to capital3

    (percent)
    38
    41
    45
    47
    53
    14 15 16 17 18
  1. See page 77 in the Annual Report PDF for additional information regarding these non-GAAP measures.
  2. Amounts include company- and customer-funded research and development. Prior year amounts have been revised to reflect the adoption of ASU 2017-07, Compensation-Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.
  3. The increase in the 2018 debt to capitalization ratio primarily reflects additional borrowings in 2018 used to finance the acquisition of Rockwell Collins as well as the acquisition of Rockwell Collins’ outstanding debt.