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RTXRTX Corporation

Industrials · Aircraft Engines · NYSE

RTX Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military, and government customers worldwide. 10-K, Item 1

Headquarters
Arlington, VA
CEO
Christopher T. Calio
Next results
around Jan 26, 2027
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When the SEC's staff reviews a filing, it writes to the company with numbered questions, and the company answers each one in a letter. SEC publishes the exchange once the review is over, at least 20 business days later. Below: what the staff asked RTX, and the company's answer to each question, quoted from the letters. A question is not an accusation; most reviews end with the company adding detail to its next filing.

Form 10-K for the Fiscal Year Ended December 31, 2018

2019-08-09 to 2019-08-21 · 2 questions · 1 letter from the SEC, 2 from the company
Review closed 2019-08-21
Legal and contingenciesNon-GAAP measuresSegments
Notes to Financial Statements · Note 18: Contingent Liabilities, page 82
SEC asked (1)
Please disclose the range of reasonable possible losses in excess of your asbestos-related accrual as required by ASC 450-20-50-3 and 50-4.
RTX answered
Please disclose the range of reasonable possible losses in excess of your asbestos-related accrual as required by ASC 450-20-50-3 and 50-4.

Regarding the request above we will modify future disclosures to reflect the following:

The amounts recorded by UTC for asbestos-related liabilities are based on currently available information and assumptions that we believe are reasonable and are made with input from outside actuarial experts.
Rest of the answer

The estimated range of total liabilities to resolve all pending and unasserted potential future asbestos claims through 2059 is approximately $335 million to $390 million. Where no amount within a range of estimates is more likely, the minimum is accrued. We have recorded the minimum amount of $335 million, which is principally recorded in Other long-term liabilities on our Consolidated Balance Sheet as of December

31, 2018.

Read in the reply ↗
In its next report

First report after the company's reply of 2019-08-15: 10-Q filed 2019-10-25 ↗, against the 10-Q filed 2019-07-26 ↗.

Tickdelta does not hold the text of both reports, so they are not compared here.

Form 8-K filed July 23, 2019 · Exhibit 99, page 2
SEC asked (2)
You disclose the non-GAAP measure "adjusted operating profit" for each of your segments along with a consolidated total. However, it appears that within the presentation there is not a reconciliation to the most directly-comparable GAAP measure but instead a narrative on how the measure was derived.
Rest of the question

Please reconcile adjusted operating profit to the most directly-comparable GAAP measure pursuant to Item 10(e)(1)(i)(B) of Regulation S-K and tell us the comparable GAAP measure.

RTX answered
While we disclosed the components of the adjustments to the segments’ operating profit (GAAP) and the narrative explains how the non-GAAP measure (adjusted operating profit) is derived, we will modify future filings to include a table similar in format to Attachment A that shows the reconciliation by each segment between the GAAP and the non-GAAP measure along with the consolidated total. Read in the reply ↗
In its next report

First report after the company's reply of 2019-08-15: 10-Q filed 2019-10-25 ↗, against the 10-Q filed 2019-07-26 ↗.

Tickdelta does not hold the text of both reports, so they are not compared here.

Also in this review: company letter, 2019-08-15, closing letter, 2019-08-21

5 other letters: notices that a filing will not be reviewed, requests to declare a registration effective, and the like

From the SEC's correspondence on EDGAR: staff letters (form UPLOAD) and company letters (form CORRESP), 19 letters filed since 2017-11-06. Questions and answers are matched by their numbers; topics come from words in each question. The reports are compared word for word (same form, before the first SEC letter against the first report after the company's reply). No AI.

Work on RTX in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/RTX/export.csv") into a cell.