United Technologies 2011 Annual Report Download - page 20

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UNITED TECHNOLOGIES CORPORATION18
54.9 59.1
52.4 54.3 58.2
07 08 09 10 11
NET SALES
Dollars in billions
NET SALES BY TYPE AS A
PERCENT OF TOTAL NET SALES
5.3
6.2
5.4 5.9 6.6
07 08 09 10 11
CASH FLOW FROM
OPERATIONS
Dollars in billions
4.27
4.90
4.12
4.74
5.49
07 08 09 10 11
DILUTED EARNINGS PER
COMMON SHARE
Dollars per share
3.6 3.8 3.7 3.6 3.8
07 08 09 10 11
RESEARCH AND
DEVELOPMENT (1)
Dollars in billions
29
41
32 32 31
07 08 09 10 11
DEBT TO CAPITAL(2)
Percent
1.17 1.35
1.54 1.70 1.87
07 08 09 10 11
DIVIDENDS PAID PER
COMMON SHARE
Dollars per share
22%
20%
58%
Commercial
Aerospace
Military
Aerospace
&Space
Commercial
& Industrial
NET SALES BY GEOGRAPHY AS A
PERCENT OF TOTAL NET SALES
26%
20%
39%
15%
Europe
Asia Pacific
Other
United
States
42%
58%
Aftermarket
Original
Equipment
Manufacturing
AT A GLANCE
Earnings per share grew 16 percent to $5.49 per share, and all
business units achieved double-digit operating profit margins.
Cash flow from operations less capital expenditures exceeded
net income attributable to common shareowners.
(1) Amounts include company- and customer-funded research and development.
(2) The increase in the 2008 debt to capitalization ratio reflects unrealized losses of approximately $4.2 billion, net of taxes, associated with the eect of market
conditions on our pension plans, and 2008 debt issuances totaling $2.25 billion. The decrease in the 2009 debt to total capitalization ratio, as compared to
2008, reflects the impact of positive returns on our pension plans, the beneficial impact of foreign exchange rate movement and the reduction of approximately
$1.7 billion of total debt.
BUSINESSES IN BALANCE UTC’s balanced portfolio of businesses spans geographies, markets and customer relationships.
FINANCIALS
United Technologies Corporation provides high-technology
products and services to the building systems and aerospace
industries worldwide through our industry-leading businesses.
In 2011, UTC net sales increased 7 percent to $58.2 billion with
all business units growing organically.