Stock Analysis on Net
Stock Analysis on Net

RTX Corp. (NYSE:RTX)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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RTX Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Short-term borrowings
Accounts payable
Accrued employee compensation
Other accrued liabilities
Contract liabilities
Long-term debt currently due
Current liabilities
Long-term debt, excluding currently due
Operating lease liabilities, non-current
Future pension and postretirement benefit obligations
Other long-term liabilities
Long-term liabilities
Total liabilities
Redeemable noncontrolling interest
Preferred stock, $1 par value; none issued or outstanding
Common stock, $1 par value
Treasury stock, common shares at average cost
Retained earnings
Unearned ESOP shares
Accumulated other comprehensive loss
Shareowners’ equity
Noncontrolling interest
Total equity
Total liabilities, redeemable noncontrolling interest, and equity

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The financial data reveals noteworthy trends in the company’s liabilities, equity, and overall financial structure over the five-year period ending December 31, 2024.

Short-term borrowings
The short-term borrowings experienced volatility, with a notable peak in 2022 reaching 625 million US dollars, after which the amount decreased in subsequent years to 183 million by 2024.
Accounts payable
Accounts payable showed a consistent upward trend, increasing steadily year-over-year from 8,639 million US dollars in 2020 to 12,897 million in 2024, indicating rising obligations to suppliers or service providers.
Accrued employee compensation
This liability item declined from 3,006 million in 2020, reaching its lowest at 2,401 million in 2022, followed by a slight recovery to 2,620 million in 2024.
Other accrued liabilities
Other accrued liabilities fluctuated but rose significantly in 2023 to 14,917 million US dollars from around 10,000 million in prior years, then remained relatively stable by 2024.
Contract liabilities
Contract liabilities showed steady growth over the period, increasing from 12,889 million in 2020 up to 18,616 million in 2024, reflecting potentially higher deferred revenue or advance payments from customers.
Long-term debt currently due
The amount of long-term debt currently due had considerable volatility. It dropped sharply to 24 million in 2021, then surged to 2,352 million by 2024, which could indicate refinancing or maturing debt obligations.
Current liabilities
Current liabilities overall increased steadily, growing from 35,848 million in 2020 to 51,499 million by 2024, largely driven by increases in accounts payable, other accrued liabilities, and contract liabilities.
Long-term debt, excluding currently due
Long-term debt excluding current portions remained fairly stable initially but rose significantly to 42,355 million in 2023 before slightly decreasing to 38,726 million in 2024, indicating changes in long-term financing structure.
Operating lease liabilities, non-current
Non-current operating lease liabilities exhibited minor fluctuations over the years, ranging approximately between 1,400 and 1,650 million, with no clear trend.
Future pension and postretirement benefit obligations
These obligations declined notably, dropping from 10,342 million in 2020 to 2,104 million in 2024, likely reflecting changes in actuarial assumptions, funding status, or plan modifications.
Other long-term liabilities
Other long-term liabilities decreased progressively from 9,537 million in 2020 to 6,942 million in 2024, suggesting repayment or settlement of long-term obligations.
Long-term liabilities
Aggregate long-term liabilities decreased from 52,421 million in 2020 to 49,404 million in 2024, with a peak in 2023, which may reflect refinancing activity and changes in debt maturities.
Total liabilities
Total liabilities exhibited a slight reduction from 88,269 million in 2020 to 84,650 million in 2022, followed by a sharp increase to over 100,000 million in 2023 and 2024, indicating increased overall obligations.
Redeemable noncontrolling interest
The redeemable noncontrolling interest remained negligible and stable over the period, around 35 million.
Common stock
Common stock par value saw a gradual increase from 36,930 million in 2020 to 37,434 million in 2024, suggesting modest issuance or revaluation.
Treasury stock, common shares at average cost
Treasury stock increased significantly in absolute terms (more negative), moving from -10,407 million in 2020 to approximately -27,112 million by 2024, indicating substantial share repurchases over time.
Retained earnings
Retained earnings grew steadily from 49,423 million in 2020 to 53,589 million in 2024, reflecting accumulation of profits or undistributed earnings despite fluctuations in other equity components.
Unearned ESOP shares
Unearned ESOP shares decreased each year, reaching a low of -15 million by 2023, with no data reported for 2024, possibly due to plan exhaustion or accounting changes.
Accumulated other comprehensive loss
Accumulated other comprehensive loss fluctuated but generally increased in magnitude, ending at -3,755 million in 2024, signaling growing unrealized losses or adverse valuation adjustments.
Shareowners’ equity
Shareowners’ equity remained relatively stable around 72,000 million until 2022, but dropped markedly to approximately 60,000 million in 2023 and 2024, highlighting potential impacts from treasury stock buybacks, comprehensive losses, or other equity transactions.
Noncontrolling interest
Noncontrolling interest remained fairly steady, fluctuating slightly around 1,500 to 1,700 million across the years.
Total equity
Total equity mirrored the trend of shareowners’ equity, slightly increasing until 2022 and then declining substantially to near 61,923 million in 2024.
Total liabilities, redeemable noncontrolling interest, and equity
The total of liabilities, redeemable noncontrolling interest, and equity was fairly constant, hovering around 160,000 million throughout the period, indicating balance sheet size stability despite internal structural shifts.

In summary, the company’s financial profile displays increased current liabilities and fluctuating long-term debt with significant volatility in certain debt categories, large increases in treasury stock reflecting aggressive share repurchase programs, and a decline in equity after 2022. The reduction in pension and other long-term obligations suggests improved funding or liability management. These developments suggest active balance sheet management amidst changing operational or market conditions.