Form 8-K

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OLiN1oRMVYT/ZYF4wsTCHNSh94VOWA2pdFemwgPxHa8VGlCTgfMIlPXjSPkrwwtm wmJRuRXWsZgYWcIwJ3M4IA== 0001193125-06-208803.txt : 20061017 0001193125-06-208803.hdr.sgml : 20061017 20061017074906 ACCESSION NUMBER: 0001193125-06-208803 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20061017 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061017 DATE AS OF CHANGE: 20061017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITED TECHNOLOGIES CORP /DE/ CENTRAL INDEX KEY: 0000101829 STANDARD INDUSTRIAL CLASSIFICATION: AIRCRAFT ENGINES & ENGINE PARTS [3724] IRS NUMBER: 060570975 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-00812 FILM NUMBER: 061147533 BUSINESS ADDRESS: STREET 1: UNITED TECHNOLOGIES BLDG STREET 2: ONE FINANCIAL PLZ CITY: HARTFORD STATE: CT ZIP: 06101 BUSINESS PHONE: 8607287000 FORMER COMPANY: FORMER CONFORMED NAME: UNITED TECHNOLOGIES MICROELECTRONICS CENTER DATE OF NAME CHANGE: 19850825 FORMER COMPANY: FORMER CONFORMED NAME: UNITED TECHNOLOGIES CORP DATE OF NAME CHANGE: 19841205 8-K 1 d8k.htm FORM 8-K Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 17, 2006

UNITED TECHNOLOGIES CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

1-812

06-0570975

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

One Financial Plaza

Hartford, Connecticut 06103

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code

(860) 728-7000

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2—Financial Information

Item 2.02. Results of Operations and Financial Condition

On October 17, 2006, United Technologies Corporation issued a press release announcing its third quarter 2006 results.

The press release issued October 17, 2006 is furnished herewith as Exhibit No. 99 to this Report, and shall not be deemed filed for the purposes of Section 18 of the Exchange Act.

Section 8—Other Events

Item 8.01. Other Events

Attached as Exhibit 100 to this report are the following materials from United Technologies Corporation’s press release for the quarter and nine months ended September 30, 2006, filed herewith, formatted in XBRL (Extensible Business Reporting Language): (i) Condensed Consolidated Statement of Operations, (ii) Segment Revenues and Operating Profit, (iii) Consolidated Operating Profit – Restructuring and Related Charges, (iv) Condensed Consolidated Balance Sheet, and (v) Condensed Statement of Cash Flows. Users of this data are advised pursuant to Rule 401 of Regulation S-T that the information contained in the XBRL documents is unaudited and these are not the official publicly filed financial statements of United Technologies Corporation. The purpose of submitting these XBRL formatted documents is to test the related format and technology and, as a result, investors should continue to rely on the official filed version of the furnished documents and not rely on this information in making investment decisions.

In accordance with Rule 402 of Regulation S-T, the information in this Current Report on Form 8-K, including Exhibit 100, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Section 9—Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

The following exhibits are included herewith:


Exhibit Number		Exhibit Description

99		Press release, dated October 17, 2006, issued by United Technologies Corporation.

100		The following materials from United Technologies Corporation’s press release on Form 8-K for the quarter and nine months ended September 30, 2006, filed herewith, formatted in XBRL (Extensible Business Reporting Language): (i) Condensed Consolidated Statement of Operations, (ii) Segment Revenues and Operating Profit, (iii) Consolidated Operating Profit – Restructuring and Related Charges, (iv) Condensed Consolidated Balance Sheet, and (v) Condensed Statement of Cash Flows.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	UNITED TECHNOLOGIES CORPORATION (Registrant)

Date: October 17, 2006	By:	/s/ Gregory J. Hayes
		Gregory J. Hayes Vice President, Accounting and Finance; Controller

EXHIBIT INDEX


Exhibit Number		Exhibit Description

99		Press release, dated October 17, 2006, issued by United Technologies Corporation.

100		The following materials from United Technologies Corporation’s press release on Form 8-K for the quarter and nine months ended September 30, 2006, filed herewith, formatted in XBRL (Extensible Business Reporting Language): (i) Condensed Consolidated Statement of Operations, (ii) Segment Revenues and Operating Profit, (iii) Consolidated Operating Profit – Restructuring and Related Charges, (iv) Condensed Consolidated Balance Sheet, and (v) Condensed Statement of Cash Flows.

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EX-99 2 dex99.htm PRESS RELEASE, DATED OCTOBER 17, 2006, ISSUED BY UNITED TECHNOLOGIES CORPORATION Press release, dated October 17, 2006, issued by United Technologies Corporation

Exhibit 99

UTC REPORTS 22 PERCENT THIRD QUARTER EPS GROWTH ON 12 PERCENT

HIGHER REVENUES; RAISES 2006 EPS GUIDANCE

HARTFORD, Conn., October 17, 2006 – United Technologies Corp. (NYSE: UTX) today reported third quarter 2006 earnings per share of $0.99 and net income of $996 million, up 22 and 21 percent respectively from the year ago quarter. Revenues for the quarter increased 12 percent to $12.2 billion and included 8 percent organic growth. Cash flow from operations was $1.36 billion and, after capital expenditures of $184 million, exceeded net income.

“Third quarter results overall were exceptional and reflect the balance in UTC’s businesses. Commercial aerospace volumes and margins were up significantly at Pratt and Hamilton Sundstrand, along with solid profit growth at UTC Fire & Security and Otis. These gains more than offset weaker market conditions in two of Carrier’s businesses and production challenges at Sikorsky on materially higher volumes,” said UTC Chairman and Chief Executive Officer George David.

“Given results in the quarter and year-to-date, we are increasing UTC’s full year earnings per share guidance to $3.65-$3.69, up 17-18 percent from 2005 results excluding the impact of the FIN 47 accounting change. The prior 2006 guidance range was $3.55-$3.65, up comparably 14-17 percent. We’ll be reviewing our 2007 outlook at our usual December investor meeting and will be looking closely at market developments in Carrier’s North American Residential and container refrigeration businesses in the interim. Both are important contributors to Carrier’s results overall and both markets turned down in the third quarter. However, we still anticipate another solid growth year across UTC in 2007,” David continued.

“Cash flow from operations less capital expenditures in the quarter was 118 percent of net income, and we anticipate this cash flow performance for the year will be at UTC’s usual standard of exceeding net income,” David added.

Share repurchase in the quarter was $580 million and $1.33 billion for the first nine months, on track with guidance of $2.0 billion for the year.

As anticipated by investors, third quarter restructuring costs of $93 million exceeded a $60 million gain on divestiture of a manufacturing joint venture.

The accompanying tables include information integral to assessing the company’s financial position, operating performance, and cash flow.

United Technologies Corp., based in Hartford, Connecticut, is a diversified company that provides a broad range of high technology products and support services to the building systems and aerospace industries.

This release is supplemented by presentation materials that are available on UTC’s website at www.utc.com, and includes “forward looking statements” concerning expected revenue, earnings, cash flow, share repurchases, restructuring and other matters that are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the health of the global economy; strength of end market demand in building construction and in both the commercial and defense segments of the aerospace industry; fluctuation in commodity prices, interest rates, foreign currency exchange rates, and the impact of weather conditions; and company specific items including the availability and impact of acquisitions; the rate and ability to effectively integrate these acquired businesses; the ability to achieve cost reductions at planned levels; challenges in the design, development, production and support of advanced technologies and new products and services; delays and disruption in delivery of materials and services from suppliers; labor disputes; and the outcome of legal proceedings. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC’s SEC filings as submitted from time to time, including but not limited to, the information included in UTC’s 10-K and 10-Q Reports under the headings “Business”, “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Cautionary Note Concerning Factors that May Affect Future Results”, as well as the information included in UTC’s Current Reports on Form 8-K.

UTC-IR

# # #

United Technologies Corporation

Condensed Consolidated Statement of Operations


	Quarter Ended September 30,						Nine Months Ended September 30,
(Millions, except per share amounts)	2006			2005			2006			2005
	(Unaudited)						(Unaudited)
Revenues	$	12,163		$	10,905		$	35,042		$	31,464

Cost and Expenses
Cost of goods and services sold		8,794			7,891			25,219			22,696
Research and development		384			335			1,123			944
Selling, general and administrative		1,338			1,295			4,030			3,863

Operating Profit		1,647			1,384			4,670			3,961
Interest expense		156			135			453			355

Income before income taxes and minority interests		1,491			1,249			4,217			3,606

Income taxes		(423	)		(356	)		(1,157	)		(959	)
Minority interests		(72	)		(72	)		(193	)		(204	)

Net Income	$	996		$	821		$	2,867		$	2,443

Earnings Per Share of Common Stock
Basic	$	1.02		$	.83		$	2.92		$	2.46
Diluted	$	.99		$	.81		$	2.84		$	2.40

Average Shares
Basic		980			992			983			993
Diluted		1,006			1,015			1,008			1,016

As described on the following pages, consolidated results for the quarters and nine months ended September 30, 2006 and 2005 include restructuring and related charges and non-recurring items.

United Technologies Corporation

Segment Revenues and Operating Profit


	Quarter Ended September 30,						Nine Months Ended September 30,
(Millions)	2006			2005			2006			2005
	(Unaudited)						(Unaudited)
Revenues

Otis	$	2,565		$	2,362		$	7,442		$	7,099
Carrier		3,607			3,351			10,262			9,469
UTC Fire & Security		1,142			1,121			3,421			3,047
Pratt & Whitney		2,771			2,414			8,066			6,700
Hamilton Sundstrand		1,253			1,077			3,698			3,231
Sikorsky		867			639			2,146			1,948

Segment Revenues		12,205			10,964			35,035			31,494
Eliminations and other		(42	)		(59	)		7			(30	)

Consolidated Revenues	$	12,163		$	10,905		$	35,042		$	31,464

Operating Profit
Otis	$	463		$	442		$	1,374		$	1,286
Carrier		430			367			1,044			912
UTC Fire & Security		70			56			200			148
Pratt & Whitney		443			379			1,408			1,087
Hamilton Sundstrand		220			179			613			501
Sikorsky		70			64			115			180

Segment Operating Profit		1,696			1,487			4,754			4,114
Eliminations and other		31			(26	)		160			87
General corporate expenses		(80	)		(77	)		(244	)		(240	)

Consolidated Operating Profit	$	1,647		$	1,384		$	4,670		$	3,961

As described on the following pages, consolidated results for the quarters and nine months ended September 30, 2006 and 2005 include restructuring and related charges and non-recurring items.

United Technologies Corporation

Consolidated Operating Profit

Consolidated operating profit for the quarters and nine months ended September 30, 2006 and 2005 includes restructuring and related charges as follows:


	Quarter Ended September 30,				Nine Months Ended September 30,
Restructuring and Related Charges	2006		2005		2006		2005
	(Unaudited)				(Unaudited)
Otis	$	32	$	7	$	40	$	30
Carrier		27		12		59		62
UTC Fire & Security		9		9		23		11
Pratt & Whitney		13		4		36		16
Hamilton Sundstrand		12		16		29		42
Sikorsky		—		—		19		3

Segment Restructuring and Related Charges		93		48		206		164
Eliminations and other		—		2		—		6

Consolidated Restructuring and Related Charges	$	93	$	50	$	206	$	170

Consolidated results for the quarters and nine months ended September 30, 2006 and 2005 include the following non-recurring items:

2006

•

Carrier: Approximately $60 million pretax gain realized on the sale of a partnership interest in Scroll Technologies, a North American manufacturer of compressors used primarily for heating, ventilating and air-conditioning equipment.

•

Pratt & Whitney: Approximately $80 million pretax gain related to the settlement of a claim by the Department of Defense (DoD) regarding Pratt & Whitney’s cost accounting practices for engine parts on commercial engine collaboration programs.

•

Eliminations and Other: Approximately $60 million pretax interest income related to the final determination by the U.S. Congress Joint Committee on Taxation on a disputed issue in the Internal Revenue Service (IRS) examination of tax years 1994 through 1999.

•

Income Taxes: Favorable income tax adjustment of approximately $35 million, related to a determination by the U.S. Congress Joint Committee on Taxation on a disputed issue in the Internal Revenue Service (IRS) examination of tax years 1994 through 1999.

In the second quarter, the net impact of the above favorable items ($0.13 per share), together with approximately $80 million of pre-tax restructuring and related charges ($0.06 per share), contributed $0.07 to earnings per share.

•

Pratt & Whitney: Approximately $25 million gain realized on the sale of a partnership interest in an engine program at Pratt Canada.

•

Eliminations and Other: Approximately $25 million gain from the sale of marketable securities.

2005

•

Eliminations and Other: Approximately $75 million non-cash gain from marketable securities. Approximately $45 million interest income related to 1994-1999 U.S. federal tax audits.

•

Income Taxes: Net favorable income tax adjustment of approximately $60 million, principally related to 1994-1999 U.S. federal tax audits. The tax impact of Hamilton Sundstrand’s divestiture of its Falk business was substantially offset by the tax benefit arising from the sale of a non-core Carrier refrigeration business. Neither transaction significantly impacted pre-tax earnings.

In the second quarter, the net impact of the above favorable items ($0.14 per share), together with $70 million of pre-tax restructuring and related charges ($0.05 per share), contributed $0.09 to earnings per share.

•

Eliminations and Other: Approximately $30 million gain from the sale of marketable securities.

United Technologies Corporation

Condensed Consolidated Balance Sheet


	September 30, 2006			December 31, 2005
(Millions)	(Unaudited)			(Unaudited)
Assets
Cash and cash equivalents	$	2,914		$	2,247
Accounts receivable, net		7,693			7,240
Inventories and contracts in progress, net		7,197			5,659
Other current assets		2,102			2,060

Total Current Assets		19,906			17,206

Fixed assets, net		5,576			5,623
Goodwill, net		13,828			13,007
Intangible assets, net		3,143			3,059
Other assets		7,143			7,030

Total Assets	$	49,596		$	45,925

Liabilities and Shareowners’ Equity
Short-term debt	$	1,224		$	2,305
Accounts payable		4,245			3,820
Accrued liabilities		9,953			9,220

Total Current Liabilities		15,422			15,345

Long-term debt		7,067			5,935
Other liabilities		7,323			6,876

Total Liabilities		29,812			28,156

Minority interest in subsidiary companies		850			778

Shareowners’ Equity:
Common Stock		9,186			8,552
Treasury Stock		(8,679	)		(7,418	)
Retained Earnings		18,167			16,051
Accumulated other non-shareowners’ changes in equity		260			(194	)

		18,934			16,991

Total Liabilities and Shareowners’ Equity	$	49,596		$	45,925

Debt Ratios:
Debt to total capitalization		30	%		33	%
Net debt to net capitalization		22	%		26	%

United Technologies Corporation

Condensed Statement of Cash Flows


	Quarter Ended September 30,						Nine Months Ended September 30,
	2006			2005			2006			2005
	(Unaudited)						(Unaudited)
Operating Activities
Net Income	$	996		$	821		$	2,867		$	2,443
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization		252			265			772			728
Deferred income taxes and minority interest		89			163			209			417
Stock compensation cost		45			48			136			119
Changes in working capital		60			(312	)		(681	)		(538	)
Voluntary contributions to pension plans		(31	)		(200	)		(31	)		(365	)
Other, net		(50	)		370			(124	)		385

Net Cash Provided by Operating Activities		1,361			1,155			3,148			3,189

Investing Activities
Capital expenditures		(184	)		(249	)		(603	)		(584	)
Acquisitions and disposal of businesses, net		(16	)		(901	)		(173	)		(3,262	)
Other, net		193			58			109			28

Net Cash Used in Investing Activities		(7	)		(1,092	)		(667	)		(3,818	)

Financing Activities
Increase (decrease) in borrowings, net		(483	)		594			(36	)		1,664
Dividends paid on Common Stock		(249	)		(208	)		(705	)		(625	)
Repurchase of Common Stock		(580	)		(385	)		(1,330	)		(760	)
Other, net		(43	)		57			195			214

Net Cash (Used In)/ Provided by Financing Activities		(1,355	)		58			(1,876	)		493

Effect of foreign exchange rates		32			(4	)		62			(27	)

Net increase (decrease) in cash and cash equivalents		31			117			667			(163	)
Cash and cash equivalents - beginning of period		2,883			1,985			2,247			2,265

Cash and cash equivalents - end of period	$	2,914		$	2,102		$	2,914		$	2,102

United Technologies Corporation

Notes to Condensed Consolidated Financial Statements

(1)	Debt to total capitalization equals total debt divided by total debt plus equity. Net debt to net capitalization equals total debt less cash and cash equivalents divided by total debt plus equity less cash and cash equivalents.

(2)

Organic growth represents the total reported revenue increase within the Corporation’s ongoing businesses less the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and significant non-recurring items. Non-recurring items that are not included in organic growth in 2006 include approximately $25 million from the sale of a partnership interest in an engine program at Pratt Canada, $25 million from the sale of marketable securities, approximately $80 million from the settlement of Pratt collaboration programs, approximately $60 million pretax gain realized on the sale of a partnership interest in Scroll Technologies, and approximately $60 million of interest income related to the final ruling on the 1994 – 1999 U.S. federal tax audits. Non-recurring revenues that are not included in organic growth in 2005 include approximately $45 million of interest income related to 1994 – 1999 U.S. federal tax audits and approximately $105 million investment gain (approximately $30 million recorded in the first quarter). Constant currency represents reported revenues or operating profit less the impact of foreign currency translation.

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Stock compensation cost Category caption for certain standard ratios that are presented with filed financial statements. Under this caption will be the specific ratio accounts with their specific definitions. Debt Ratios The ratio of total debt (short and long term) to total capitalization which is the sum of total debt and total equity. debt to total capitalization The ratio of net debt (short and long term debt less the cash balance) to net capitalization which is the sum of total debt plus total equity less the cash balance. net debt to net capitalization Amount is the sum of financing revenues and all other income excluding sales but including interest income Financing Revenues and Other Income,net Finance leases, notes receivable, products under operating leases and extended payment items Customer financing assets Shares issued that will be needed by the ESOP as employee's stock options vest Unearned ESOP shares Change in customer financing assets balance sheet account for period Decrease(Increase) in customer financing assets Footnote narrative on earnings per share that accompanies tabular presentation of calculation. Narrative adds any additional information such as effect of reclassifications, stock splits, etc. earnings per share note Average diluted shares from outstanding stock options used in calculating diluted EPS for required disclosure Dilutive effect of employee stock options and awards Costs of manufactured components, accumulated installation costs and estimated earnings on incomplete contracts principally related to elevator and escalator contracts Contracts in progress Progress payments on U.S. Government contracts. Payments are secured by liens. Progress payments See element definition for contracts in progress. These amounts are billings against those costs. Billings on contracts in progress Sum of raw materials, work-in-progess, finished goods and contracts in progress (which are net of valuation reserves but prior to progress payments and billings on contracts in progress Inventories - gross Represents company contributions to employee defined contribution plans Defined Contribution Plans - Contributions Represents mandatory company contributions to pension and postretirement employee benefit plans Defined Benefit Plans - Mandatory Contributions Represents the sum of all components of net periodic pension benefit cost Total net periodic pension cost Total pension plan service cost Service cost Total pension plan interest cost Interest cost Expected return on plan assets, a component of net periodic benefit cost Expected return on plan assets Amortization of net periodic benefit costs Amortization of benefit cost Actuarial net (gain)/loss component of net periodic benefit cost Recognized actuarial net loss Settlement and curtailment loss, component of net periodic benefit cost Net settlement and curtailment loss Represents the sum of all components of net periodic postretirement benefit cost Total net periodic postretirement benefit cost Total postretirement plan service cost, component of net periodic benefit cost Service cost - postretirement Total postretirement plan interest cost, as a component of net periodic benefit cost Interest cost - postretirement Expected return on plan assets, a component of net periodic benefit cost Expected return on plan assets - postretirement Amortization of net periodic postretirement benefit costs Amortization of net periodic benefit costs - postretirement Actuarial net (gain)/loss component of net periodic postretirement benefit cost Recognized actuarial net loss - postretirement Settlement and curtailment loss, component of net periodic postretirement benefit cost Net settlement and curtailment loss - postretirement Amount of severance, asset write-down, and facility exit & lease termination cost accrued Restructuring Accrual - Total Amount of employee severance costs accrued Restructuring Accrual - Severance Amount of asset write-down costs accrued Restructuring Accrual - Asset Write-downs Amount facility exit & lease termination cost accrued Restructuring Accrual - Facility exit and lease term costs Amount of severance, asset write-down, and facility exit & lease termination cost incurred Net pre-tax restructuring charges - Total Amount of severance cost incurred Net pre-tax restructuring charges - Severance Amount of asset write-down cost incurred Net pre-tax restructuring charges - Asset write-downs Amount of facility exit & lease termination cost incurred Net pre-tax restructuring charges - Facility exit and lease term costs Amount of severance, asset write-down, and facility exit & lease termination accrual utilization Utilization - Total Amount of severance accrual utilized Utilization - Severance Amount of asset write-down accrual utilized Utilization - Asset write-down Amount of facility exit & lease termination accrual utilized Utilization - Facility exit and lease termination costs Total amount of expected severance, asset write-down, and facility exit & lease termination restructuring charges Expected Costs - Total Amount of severance cost expected Expected Costs - Severance Total amount of expected asset write-down restructuring charges Expected Costs - Asset write-down Total amount of expected facility exit & lease termination restructuring charges Expected Costs - Facility exit and lease termination Remaining amount of expected severance, asset write-down, and facility exit & lease termination restructuring charges, net of cost incurred Remaining Expected Costs - Total Remaining amount of expected severance restructuring charges, net of cost incurred Remaining Expected Costs - Severance Remaining amount of expected asset write-down restructuring charges, net of cost incurred Remaining Expected Costs - Asset write-downs Remaining amount of expected facility exit & lease termination restructuring charges, net of cost incurred Remaining Expected Costs - Facility exit and lease termination Amount represents the value of treasury stock reissued as common stock to employee plans Treasury Stock Reissued Under Employee Plans Amount represents the value of treasury stock reissued as common stock to pension plans. Treasury Stock Reissued to Pension Plans Cash Dividend - ESOP Common Stock Cash dividends paid to ESOP common stock Amount represents the increase (decrease) to guarantees as a result of waranties issued product warranty Warranties and performance guarantees issued Amount represents the settlements of warranties and performance guarantees Settlements made Amount represents the increase (decrease) to guarantees as a result of other product warranty activity Other product warranty guarantee activity Ratio of operating profit to revenue Operating Profit Ratio Description of the Commercial Businesses within the Business Environment Section of the MD&A. Description of Commercial Businesses Description of the aerospace businesses within the Business Environment section of MD&A Description of Aerospace Businesses Disclosure of the principal, interest rate and maturity of each series of long-term debt Long Term Debt - Series Disclosure LT Debt Series - Principal Disclosure of the principal of each series of long-term debt Disclosure of the interest rate for each series of long-term debt LT Debt Series - Interest Rate Disclosure of the maturity date of each series of long-term debt LT Debt Series - Maturity The gross carrying amount in for purchase service contract intangible assets subject to amortization Gross Intangible Asset - Purchased Service Contracts Critical Accounting Estimates Disclosure that the preparation of the financial statements requires management to makes estimates that affect reported amounts The aggregate original costs for purchased service contracts intangible assets Finite-Lived - Purchased Service Contracts The cumulative amount of amortization, generally shown as a deduction from the recorded amount of finite-life purchased service contract intangible assets. Accumulated Amortization - Intangible Assets Purchased service contracts The cumulative amount of amortization, generally shown as a deduction from the recorded amount of finite-life patents and trademarks intangible assets. Accumulated Amortization - Intangible Assets - Patents and Trademarks The cumulative amount of amortization, generally shown as a deduction from the recorded amount of finite-life customer relationship intangible assets. Accumulated Amortization - Intangible Assets - Customer Relationships The cumulative amount of amortization, generally shown as a deduction from the recorded amount of finite-life other intangible assets. Accumulated Amortization - Intangible Assets - Other The total amount of goodwill created from the acquisition of companies Business Acquisitions - Goodwill Resulting from Business Combinations The effect of foreign currency exchange rate changes on goodwill balances. Business Acquisitions - FX on Goodwill Net assets acquired through a business acquisition Business Acquisitions - Net Assets Acquired Revenue Change Ratio Ratio of the change in revenue in the current year from the prior year to the prior year revenue level. May also be defined as the percent change in revenue Costs and Expenses - Gross Margin Discussion Discussion of the factors driving changes in gross margin during the period Ratio of gross margin to revenues. May also be defined as the gross margin percent. Gross Margin to Revenue Ratio Amount of product and service revenues less cost of products and services sold Costs and Expenses - Gross Margin Total amount of research and development costs Cost and Expenses - Research and Development Amount of company-funded research and development costs Cost and Expenses - Company-funded research and development Amount of customer-funded research and development costs Cost and Expenses - Customer-funded research and development Ratio of research and development cost to revenues. Cost and Expenses - Research and Development Costs to Revenues Ratio Ratio of customer funded research and development cost to revenues. Costs and Expenses - Customer Funded Research and Development Cost to Revenues Ratio Ratio of company funded research and development cost to revenues. Costs and Expenses - Company Funded Research and Development Cost to Revenues Ratio Discussion of the nature and amount of research and development costs Cost and Expenses - Research and Development Discussion Discussion of the changes in amount of selling, general and administrative costs Cost and Expenses - Sellling General and Administrative Discussion Ratio of selling, general and administrative costs to revenues. Costs and Expenses - Selling General and Administrive Costs to Revenue Ratio Discussion of the changes in amount of interest expense Costs and Expenses - Interest Expense Discussion Discussion of the factors having a material impact on net income, not addressed elsewhere in management's discussion and analysis Net Income Discussion Total amount of short and long term debt and borrowings Liquidity Discussion - Total Debt Total debt, less amount of cash and cash equivalents Liquidity Discussion - Net Debt Liquidity Discussion - Total Capitalization Total debt pluss shareowners' equity Total of total debt plus shareowners' equity, less amount of cash and cash equivalents Liquidity Discussion - Net Capitalization Discussion of the controls and procedures in place and any material changes during the period Controls and Procedures Discussion Other information discussed Other Information Discussion of material legal proceedings Legal Proceedings Discussion of purchases of equity securities and the use of the related proceeds Unregistered Sales of Equity Securities and Use of Proceeds Stock Repurchase Information about periodic company stock repurchases, in tabular format Number of shares repurchased by the company Stock Repurchase - Shares Repurchased Average price per share of shares of stock repurchased by the company Stock Repurchase - Average Price Paid Per Share Total number of shares purchased as part of a publicly announced program Stock Repurchase - Shares as Publicly Announced The remaining number of shares that may be purchased under the stock repurchase program Stock Repurchase - Maximum Number of Shares that may yet be Purchased Exhibits to the filing document Exhibits Name, or number, of the exhibit Exhibit Name Description of the related exhibit Exhibit Description Information contained in the signatures section of the filing document Signatures Statement of the authorization of filing of the related document Signature Statement Signatories Name, title and signing date of each of the signatories Date of the signature Signature - Date Electronic signature Signature - Signature Name of the signatory Signature - Name Official title of the signatory Signature - Title Exhibit 12: Statement re: Computation of Ratio of Earnings to Fixed Charges Computation of Ratio of Earnings to Fixed Charges Amount of interest capitalized Exhibit 12 - Interest Capitalized One third of rental costs, fixed charges. Exhibit 12 - One-Third of Rents Total fixed charges is total interest expense, plus interest capitalized, plus one-third of rents Exhibit 12 - Total Fixed Charges For purposes of Exhibit 12, total earnings is income before income taxes and minority interest, plus Total Fixed Charges, plus amortization of interest capitalized, less interest capitalized Exhibit 12 - Total Earnings Amount of capitalized interest amortized Exhibit 12 - Amortization of interest capitalized Ratio of earnings to fixed charges, as calculated in Exhibit 12 Exhibit 12 - Ratio of earnings to fixed charges Introduction to the report of the independent accountants which describes the professional standards applied by the accountants, type of report delivered, and periods covered by the report Independent Accountant Report Intro Narrative body of the consent report issued by the independent accountants Independent Accountant Consent Section 1350 Certifications Section 1350 Certifications persuant to Section 906 of the Sarbanes-Oxley Act of 2002 The Principal Executive Officer/Principal Financial Officer certifying the financial statements of a given entity as required by the SEC; detail to include title, signature and other relevant data; multiple values are allowed. Principal Financial Officer - Vice President Finance Signature of Principal Financial Officer - Vice President of Finance Signature - Vice President Finance Name of the Principal Financial Officer - Vice President Finance Name - Vice President Finance Title of the Principal Financial Officer - Vice President of Finance Title/Position - Vice President Finance Date of the certification by the Vice President of Finance Date of Certification - Vice President Finance Principal Financial Officer - Vice President Accounting Control The Principal Executive Officer/Principal Financial Officer certifying the financial statements of a given entity as required by the SEC; detail to include title, signature and other relevant data; multiple values are allowed. Signature of the Principal Financial Officer - Vice President Accounting Control Signature - Vice President Accounting Control Name of the Principal Financial Officer - Vice President Accounting Control Name - Vice President Accounting Control Title of the Principal Financial Officer - Vice President Accounting Control Title/Position - Vice President Accounting Control Date of the certification of the Principal Financial Officer - Vice President Accounting Control Date of Certification - Vice President Accounting Control Exhibit - Consent of the independent accountants Accountants Consent Information about series of long-term debt due May, 2010 Long-Term Debt - Series 2010 Disclosure of the principal of the series of long-term debt due May, 2010 LT Debt Series 2010 - Principal Information about series of long-term debt due May, 2015 Long-Term Debt - Series 2015 Information about series of long-term debt due May, 2035 Long-Term Debt - Series 2035 Disclosure of the principal of the series of long-term debt due May, 2015 LT Debt Series 2015 - Principal Disclosure of the principal of the series of long-term debt due May, 2035 LT Debt Series 2035 - Principal Disclosure of the interest rate of the series of long-term debt due May, 2010 LT Debt Series 2010 - Interest Rate Disclosure of the interest rate of the series of long-term debt due May, 2015 LT Debt Series 2015 - Interest Rate Disclosure of the interst rate of the series of long-term debt due May, 2035 LT Debt Series 2035 - Interest Rate Disclosure of the maturity date of the series of long-term debt due May, 2010 LT Debt Series 2010 - Maturity Date Disclosure of the maturity date of the series of long-term debt due May, 2015 LT Debt Series 2015 - Maturity Date Disclosure of the maturity date of the series of long-term debt due May, 2035 LT Debt Series 2035 - Maturity Date Information about the report of the independent accountants Report of Accountants Information about the accounts providing the report included with the financial statements Report of Accountants - Accountants Information Name of the independent accountant/accounting firm who issued the Accountants Report. Accountants Information - Name Signature of the independent accountant/accounting firm. Accountants Information - Signature Section which contains the independent accountant/accounting firm's address information. Accountants Information - Address City of the independent accountant/accounting firm issuing the report. Accountants Information - Address - City State of the independent accountant/accounting firm issuing the report. Accountants Information - Address - State Information contained in and which describes the specific Accountants Report issued. Report of Accountants - Report Information Title which appears on the Accountants Report. Report Information - Title of Report Type of independent Accountants Report issued. Examples are audit, review, or compilation. Report Information - Report Type Section which describes the statements covered by the Accountants Report. Report Information - Statements Covered The date of the Statement of Financial Position to which the accountants report applies. Statements Covered - Balance Sheet Date The period covered by the Statement of Income to which the accountants report applies. Statements Covered - Income Statement Period The period covered by the Statement of Cash Flows to which the accountants report applies. Statements Covered - Cash Flows Statement Period Reporting method used to prepare financial statements covered by the Accountants Report: GAAP, Cash, Modified Cash, Tax or OCBOA Report Information - Reporting Method Report issue date of the Accountants Report. Report Information - Report Date Accounting standards applied in preparing the financial statements covered by the Accountants Report: US GAAP, Canadian GAAP, etc. Report Information - Accounting Standards Applied Section which contains the paragraphs which make up the body of the Accountants Report. This tag is to be used when the entire Accountants Report is to be listed together (i.e. not broken out by paragraph). Report Information - Report Body Addressee of the Accountants Report. Report Information - Addressee Exhibit index information Exhibit Index Description of Exhibit 12 Exhibit Index - Exhibit 12 Description of Exhibit 15 Exhibit Index - Exhibit 15 Description of Exhibit 31 Exhibit Index - Exhibit 31 Description of Exhibit 32 Exhibit Index - Exhibit 32 Name of the Chief Executive Officer signing the document Signature - CEO Date of the CEO signature Signature CEO - Date Electronic signature of the CEO Signature CEO - Signature Signature CEO - Title Full title of the signatory Name of the VP of Finance signing the document Signature - VP Finance Name of the VP of Accounting and Control signing the document Signature - VP Accounting Control Name of the General Counsel signing the document Signature - General Counsel Date of the VP Finance signature Signature VP Finance - Date Date of the VP Accounting and Control signature Signature VP Accounting Control - Date Date of the General Counsel signature Signature General Counsel - Date Electronic signature of the VP Finance Signature VP Finance - Signature Electronic signature of the VP Accounting and Control Signature VP Accounting Control - Signature Electronic signature of the General Counsel Signature General Counsel - Signature Full title of the signatory Signature VP Finance - Title Full title of the signatory Signature VP Accounting Control - Title Full title of the signatory Signature General Counsel - Title The Principal Executive Officer/Principal Financial Officer certifying the financial statements of a given entity as required by the SEC; detail to include title, signature and other relevant data; multiple values are allowed. Principal Executive Officer - CEO Signature of Principal Financial Officer - CEO Signature - Chief Executive Officer Name of the Principal Executive Officer - CEO EX-100.PRE 7 utx-20060930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE EX-100.REF 8 utx-20060930_ref.xml XBRL TAXONOMY EXTENSION REFERENCE LINKBASE Financial Accounting Standards Board Share-Based Payment 123R 12/31/04 SEC Regulation S-K (SK) 303 Securities Exchange Act Rule 13a-14, 15d-16 Securities Exchange Act Rule 13a-14, 15d-16 -----END PRIVACY-ENHANCED MESSAGE-----