Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Operating Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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RTX Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 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).
The statement of comprehensive income reveals fluctuating performance over the five-year period. Net income demonstrates volatility, increasing from US$4,112 million in 2021 to US$5,308 million in 2022, then declining to US$3,380 million in 2023 before recovering to US$5,013 million in 2024 and significantly rising to US$7,069 million in 2025. Comprehensive income mirrors this trend, with a peak in 2025 at US$8,106 million, following a low point of US$2,979 million in 2023.
- Net Income Trend
- Net income experienced substantial growth between 2021 and 2022, followed by a considerable decrease in 2023. The subsequent recovery in 2024 and strong increase in 2025 suggest a potential stabilization and positive momentum. The 2023 decline warrants further investigation to understand the underlying causes.
- Pension and Postretirement Benefit Plans Adjustments
- These adjustments show significant variability. A large positive adjustment occurred in 2021 and 2022, followed by negative adjustments in 2023, 2024, and 2025. The shift from positive to negative adjustments indicates potential changes in actuarial assumptions, plan amendments, or benefit payouts. The consistent negative adjustments in the latter years suggest an ongoing trend of increasing pension-related expenses or reduced asset values.
- Other Comprehensive Income (OCI) Components
- The components of OCI demonstrate considerable fluctuation. Change in unrealized cash flow hedging exhibits relatively small, alternating gains and losses. Foreign currency translation adjustments are particularly volatile, with a large negative impact in 2022, a positive impact in 2023, a negative impact in 2024, and a substantial positive impact in 2025. This suggests significant exposure to foreign exchange rate movements. The overall 'Other comprehensive income (loss), net of tax' item is highly sensitive to these fluctuations, contributing significantly to the overall comprehensive income.
- Attribution of Comprehensive Income
- Comprehensive income attributable to noncontrolling interest consistently represents a deduction from total comprehensive income, and this deduction increases each year. Comprehensive income attributable to common shareowners follows the overall trend of comprehensive income, peaking in 2025 at US$7,769 million. The increasing share attributable to noncontrolling interests suggests a growing proportion of ownership outside of common shareowners.
Overall, the statement of comprehensive income indicates a business subject to external factors, particularly those related to pension obligations and foreign currency exchange rates. While net income shows a positive trajectory in the later years, the volatility in OCI components suggests underlying risks and complexities that require ongoing monitoring.