Balance Sheet: Assets
Quarterly Data

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.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

RTX Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 3, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash and cash equivalents	5,157)	5,578)	6,682)	6,011)	5,607)	6,587)	5,456)	5,391)	5,893)	6,220)	5,381)	4,767)	6,040)	7,832)	7,476)	8,051)	8,579)	8,802)	10,001)	6,975)	8,001)
Accounts receivable, net	11,426)	10,976)	10,097)	10,252)	10,280)	10,838)	10,058)	9,903)	10,069)	9,108)	9,233)	10,394)	9,076)	9,661)	9,538)	8,912)	10,037)	9,254)	10,115)	9,496)	13,104)
Contract assets, net	15,241)	14,570)	14,684)	13,581)	13,104)	12,139)	12,696)	12,970)	12,729)	11,534)	12,297)	11,836)	11,566)	11,361)	10,899)	10,485)	10,238)	9,931)	9,617)	9,943)	4,549)
Inventory, net	13,618)	12,768)	13,465)	13,047)	12,386)	11,777)	12,050)	11,997)	11,327)	10,617)	10,443)	10,142)	9,749)	9,178)	9,426)	9,548)	9,498)	9,411)	9,843)	10,256)	11,506)
Other assets, current	7,474)	7,241)	6,836)	6,334)	6,646)	7,076)	6,258)	5,654)	5,486)	4,964)	4,467)	4,323)	4,309)	4,018)	4,653)	3,883)	4,200)	5,978)	3,935)	5,604)	1,715)
Current assets	52,916)	51,133)	51,764)	49,225)	48,023)	48,417)	46,518)	45,915)	45,504)	42,443)	41,821)	41,462)	40,740)	42,050)	41,992)	40,879)	42,552)	43,376)	43,511)	42,274)	38,875)
Customer financing assets	2,135)	2,246)	2,306)	2,320)	2,359)	2,392)	2,452)	2,457)	2,543)	2,603)	2,618)	2,675)	2,766)	2,848)	2,960)	3,063)	3,079)	3,144)	3,314)	3,363)	3,496)
Future income tax benefits	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	699)	732)	1,444)
Fixed assets	33,348)	32,783)	32,711)	32,062)	31,623)	31,392)	30,554)	30,175)	29,536)	29,116)	28,201)	27,990)	27,815)	27,637)	27,116)	26,959)	26,554)	26,346)	25,600)	25,118)	25,544)
Accumulated depreciation	(17,213)	(16,694)	(16,825)	(16,369)	(15,985)	(15,644)	(15,207)	(14,880)	(14,387)	(13,946)	(13,533)	(13,249)	(12,978)	(12,665)	(12,599)	(12,294)	(11,812)	(11,384)	(10,870)	(10,313)	(13,060)
Fixed assets, net	16,135)	16,089)	15,886)	15,693)	15,638)	15,748)	15,347)	15,295)	15,149)	15,170)	14,668)	14,741)	14,837)	14,972)	14,517)	14,665)	14,742)	14,962)	14,730)	14,805)	12,484)
Operating lease right-of-use assets	1,899)	1,864)	1,846)	1,664)	1,639)	1,638)	1,755)	1,812)	1,844)	1,829)	1,802)	1,866)	1,911)	1,958)	1,876)	1,900)	1,913)	1,880)	2,027)	2,102)	2,624)
Goodwill	53,045)	52,789)	53,759)	53,347)	53,644)	53,699)	53,883)	54,122)	53,904)	53,840)	53,168)	53,806)	54,316)	54,436)	53,789)	54,394)	54,265)	54,285)	53,524)	53,269)	47,481)
Intangible assets, net	33,116)	33,443)	34,159)	34,503)	34,960)	35,399)	35,865)	36,234)	36,477)	36,823)	37,046)	37,562)	38,118)	38,516)	38,842)	39,523)	39,999)	40,539)	41,564)	42,003)	25,600)
Other assets	5,618)	5,297)	5,102)	4,417)	3,924)	4,576)	6,623)	6,326)	6,215)	6,156)	7,102)	6,905)	6,678)	6,624)	4,796)	4,414)	4,058)	3,967)	3,030)	2,969)	7,568)
Long-term assets	111,948)	111,728)	113,058)	111,944)	112,164)	113,452)	115,925)	116,246)	116,132)	116,421)	116,404)	117,555)	118,626)	119,354)	116,780)	117,959)	118,056)	118,777)	118,888)	119,243)	100,697)
Total assets	164,864)	162,861)	164,822)	161,169)	160,187)	161,869)	162,443)	162,161)	161,636)	158,864)	158,225)	159,017)	159,366)	161,404)	158,772)	158,838)	160,608)	162,153)	162,399)	161,517)	139,572)

Cash and cash equivalents: The cash balance shows significant volatility, starting at 8,001 million USD in March 2020, peaking at 10,001 million USD in September 2020, before generally declining to 5,157 million USD by March 2025. Notable dips occur during mid-2022 and late 2024, indicating fluctuating liquidity levels.
Accounts receivable, net: Accounts receivable exhibits moderate fluctuations, initially decreasing from 13,104 million USD in March 2020 to lows around 9,000 million USD in late 2020 and early 2022, followed by a gradual increase reaching 11,426 million USD by March 2025. This pattern may reflect changing sales or collection cycles.
Contract assets, net: This item shows a consistent upward trend, rising from 4,549 million USD in March 2020 to 15,241 million USD by March 2025. The steady growth suggests an increasing volume of work-in-progress or unbilled revenues being recognized as assets.
Inventory, net: Inventory levels initially decline from 11,506 million USD in March 2020 to approximately 9,178 million USD by December 2021. Afterward, inventory increases steadily to 13,618 million USD by March 2025, possibly reflecting accumulation in anticipation of demand or changes in supply chain management.
Other assets, current: Current other assets demonstrate substantial variation, with a sharp increase from 1,715 million USD in March 2020 to a peak of 7,076 million USD in June 2024, followed by a slight uptick to 7,474 million USD in March 2025, indicating possible changes in short-term miscellaneous assets or prepaid expenses.
Current assets: Total current assets fluctuate within a range, peaking around 48,417 million USD in December 2023, followed by minor decreases and recoveries, ending at 52,916 million USD in March 2025. This overall increase suggests improved short-term asset accumulation over the period.
Customer financing assets: Customer financing assets decline steadily from 3,496 million USD in March 2020 to 2,135 million USD by March 2025, indicating a potential reduction in customer credit extended or a tighter financing policy.
Future income tax benefits: This item is reported only through June 2020, showing a decline from 1,444 million USD to 699 million USD, after which no further values are recorded, which might signal a reclassification or elimination of this asset from subsequent reports.
Fixed assets: Gross fixed assets consistently increase over the period, from 25,544 million USD in March 2020 to 33,348 million USD in March 2025, reflecting ongoing investments in property, plant, and equipment.
Accumulated depreciation: Accumulated depreciation also rises steadily, from -13,060 million USD in March 2020 to -17,213 million USD in March 2025, consistent with aging fixed assets and continued depreciation expenses.
Fixed assets, net: Net fixed assets show moderate growth overall, fluctuating around the mid-14,000 to 16,000 million USD range, ending at 16,135 million USD in March 2025, indicating relatively stable asset values after depreciation.
Operating lease right-of-use assets: These assets remain generally stable with minor fluctuations, declining from 2,624 million USD in March 2020 to around 1,899 million USD by March 2025, suggesting either lease expirations or changes in leasing arrangements.
Goodwill: Goodwill values fluctuate slightly but largely remain within the 52,000 to 54,500 million USD range, ending at 53,045 million USD in March 2025, indicating stable acquisition-related intangible value.
Intangible assets, net: Net intangible assets decline steadily from 25,600 million USD in March 2020 to 33,116 million USD in March 2025, presenting a general downward trend inconsistent with accumulation but possibly reflecting amortization or disposals. (Note: The value appears to increase numerically, indicating a need for clarification; based on data provided, it decreases from 42,003 million USD in June 2020 to 33,116 million USD in March 2025.)
Other assets: Other assets display considerable volatility, with an initial low near 2,969 million USD in June 2020, increasing to highs around 6,623 million USD in September 2023, before descending to approximately 5,618 million USD by March 2025, indicating changes in non-core asset categories.
Long-term assets: Long-term assets overall exhibit a gradual decline from 119,243 million USD in June 2020 to 111,948 million USD by March 2025, reflecting possible asset disposals, depreciation, or reclassifications.
Total assets: Total assets peak at 162,399 million USD in September 2020, then show a modest downtrend with fluctuations, ending at 164,864 million USD in March 2025, indicating overall asset growth despite interim volatility.

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RTX Corp. (NYSE:RTX)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data