Microsoft Excel LibreOffice Calc

Raytheon Co. (RTN)


Adjustments to Financial Statements

High level of difficulty


Adjustments to Current Assets

Raytheon Co., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Current assets 12,136  11,326  10,678  9,812  10,292 
Adjustments
Add: Allowance for doubtful accounts 12 
After Adjustment
Adjusted current assets 12,148  11,334  10,686  9,817  10,296 

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).


Adjustments to Total Assets

Raytheon Co., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Total assets 31,864  30,860  30,052  29,281  27,900 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 842  909  1,086  976  803 
Add: Allowance for doubtful accounts 12 
Less: Deferred tax asset2 331  537  753  906  1,231 
After Adjustment
Adjusted total assets 32,387  31,240  30,393  29,356  27,476 

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See Details »

2 Deferred tax asset. See Details »


Adjustments to Total Liabilities

Raytheon Co., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Total liabilities 19,981  20,385  19,537  18,596  18,179 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 842  909  1,086  976  803 
After Adjustment
Adjusted total liabilities 20,823  21,294  20,623  19,572  18,982 

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).

1 Operating lease liability (before adoption of FASB Topic 842). See Details »


Adjustments to Stockholders’ Equity

Raytheon Co., adjusted total Raytheon Company stockholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Total Raytheon Company stockholders’ equity 11,472  9,963  10,066  10,128  9,525 
Adjustments
Less: Noncurrent deferred tax assets (liabilities)1 329  532  746  887  1,057 
Add: Allowance for doubtful accounts 12 
Add: Redeemable noncontrolling interest 411  512  449  355  — 
Add: Noncontrolling interests in subsidiaries —  —  —  202  196 
After Adjustment
Adjusted total Raytheon Company stockholders’ equity 11,566  9,951  9,777  9,803  8,668 

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).

1 Noncurrent deferred tax assets (liabilities). See Details »


Adjustments to Capitalization Table

Raytheon Co., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Commercial paper 300  300  —  —  — 
Long-term debt 4,755  4,750  5,335  5,330  5,330 
Total reported debt 5,055  5,050  5,335  5,330  5,330 
Total Raytheon Company stockholders’ equity 11,472  9,963  10,066  10,128  9,525 
Total reported capital 16,527  15,013  15,401  15,458  14,855 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 842  909  1,086  976  803 
Adjusted total debt 5,897  5,959  6,421  6,306  6,133 
Adjustments to Equity
Less: Noncurrent deferred tax assets (liabilities)2 329  532  746  887  1,057 
Add: Allowance for doubtful accounts 12 
Add: Redeemable noncontrolling interest 411  512  449  355  — 
Add: Noncontrolling interests in subsidiaries —  —  —  202  196 
Adjusted total Raytheon Company stockholders’ equity 11,566  9,951  9,777  9,803  8,668 
After Adjustment
Adjusted total capital 17,463  15,910  16,198  16,109  14,801 

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).

1 Operating lease liability (before adoption of FASB Topic 842). See Details »

2 Noncurrent deferred tax assets (liabilities). See Details »


Adjustments to Reported Income

Raytheon Co., adjusted net income attributable to Raytheon Company

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
As Reported
Net income attributable to Raytheon Company 2,909  2,024  2,211  2,074  2,244 
Adjustments
Add: Deferred income tax expense (benefit)1 (24) 252  109  (56) (60)
Add: Increase (decrease) in allowance for doubtful accounts —  — 
Less: Income (loss) from discontinued operations, net of tax (1) 13  65 
Add: Other comprehensive income (loss), net of tax 768  (524) (235) 282  (2,345)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest (27) (23) (37) (7) 14 
After Adjustment
Adjusted net income attributable to Raytheon Company 3,631  1,727  2,050  2,281  (212)

Based on: 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-14), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-10), 10-K (filing date: 2015-02-11).

1 Deferred income tax expense (benefit). See Details »