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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
UTC Fire & Security products include fire and special hazard
and suppression systems and firefighting equipment, security,
monitoring and rapid response systems and service and
security personnel for a diversified international customer
base principally in the industrial, commercial and residential
property sectors.
Pratt & Whitney products include commercial, military,
business jet and general aviation aircraft engines, parts and
services, industrial gas turbines, geothermal power systems
and space propulsion sold to a diversified customer base,
including international and domestic commercial airlines and
aircraft leasing companies, aircraft manufacturers, and U.S.
and foreign governments. Pratt & Whitney also provides
product support and a full range of overhaul, repair and fleet
management services and produces land-based power
generation equipment.
Hamilton Sundstrand provides aerospace and industrial
products and aftermarket services for diversified industries
worldwide. Aerospace products include power generation,
management and distribution systems, flight systems, engine
control systems, environmental control systems, fire
protection and detection systems, auxiliary power units and
propeller systems. Industrial products include air
compressors, metering pumps and heavy duty process
pumps.
Sikorsky products include military and commercial
helicopters, aftermarket helicopter and aircraft parts and
services.
On September 28, 2011, we announced a new organizational
structure to better serve customers and drive growth and
achieve greater efficiencies through greater integration
across certain product lines. This new structure combines
Carrier and UTC Fire & Security into a new segment called
UTC Climate, Controls & Security. Beginning with the first
quarter of 2012, Carrier and UTC Fire & Security will report
combined financial and operational results as part of this new
segment. As part of this new organizational structure, we also
created UTC Propulsion & Aerospace Systems, a new
organization consisting of Pratt & Whitney and Hamilton
Sundstrand. Pratt & Whitney and Hamilton Sundstrand will
continue to report their financial and operational results as
separate segments, which is consistent with how we will
allocate resources and measure the financial performance of
these businesses. We have reported our financial and
operational results for the periods presented herein under the
six principal segments noted above, consistent with how we
have reviewed our business operations for decision-making
purposes, resource allocation and performance assessment
during 2011.
Segment Information. Total sales by segment include intersegment sales, which are generally made at prices approximating
those that the selling entity is able to obtain on external sales. Segment information for the years ended December 31 is as
follows:
NET SALES OPERATING PROFITS
(Dollars in millions) 2011 2010 2009 2011 2010 2009
Otis $12,437 $ 11,579 $ 11,723 $2,815 $2,575 $2,447
Carrier 11,969 11,386 11,335 1,520 1,062 740
UTC Fire & Security 6,895 6,490 5,503 692 714 493
Pratt & Whitney 13,430 12,935 12,392 1,999 1,987 1,835
Hamilton Sundstrand 6,150 5,608 5,560 1,082 918 857
Sikorsky 7,355 6,684 6,287 840 716 608
Total segment 58,236 54,682 52,800 8,948 7,972 6,980
Eliminations and other (46) (356) (375) (430) (409) (255)
General corporate expenses ———(419) (377) (348)
Consolidated $58,190 $54,326 $ 52,425 $8,099 $ 7,186 $ 6,377
TOTAL ASSETS CAPITAL EXPENDITURES DEPRECIATION & AMORTIZATION
(Dollars in millions) 2011 2010 2009 2011 2010 2009 2011 2010 2009
Otis $8,717 $ 8,097 $ 7,908 $75 $55 $67 $ 223 $ 211 $ 204
Carrier 9,432 9,472 9,804 189 138 90 164 183 191
UTC Fire & Security 12,198 12,365 10,304 116 96 72 268 274 214
Pratt & Whitney 10,705 10,139 10,063 290 321 288 332 340 329
Hamilton Sundstrand 8,593 8,540 8,509 163 117 114 172 172 174
Sikorsky 4,628 4,521 4,167 92 108 95 84 83 68
Total segment 54,273 53,134 50,755 925 835 726 1,243 1,263 1,180
Eliminations and other 7,179 5,359 5,007 58 30 100 104 93 78
Consolidated $61,452 $58,493 $55,762 $983 $865 $826 $1,347 $1,356 $1,258
2011 ANNUAL REPORT 87