Raytheon 2011 Annual Report Download - page 47

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39
CONSOLIDATED RESULTS OF OPERATIONS
Selected consolidated results were as follows:
(In millions, except percentages and per share data)
Net sales
Products
Services
Total net sales
Operating expenses
Cost of sales
Products
Services
Total cost of sales
Administrative and selling expenses
Research and development expenses
Total operating expenses
Operating income
Non-operating (income) expense
Interest expense
Interest income
Other (income) expense
Non-operating (income) expense, net
Federal and foreign income taxes
Income from continuing operations
Income (loss) from discontinued operations, net of
tax
Net income
Less: Net income (loss) attributable to
noncontrolling interests in subsidiaries
Net income attributable to Raytheon Company
Diluted earnings per share from continuing
operations attributable to Raytheon Company
common stockholders
Diluted earnings (loss) per share from discontinued
operations attributable to Raytheon Company
common stockholders
Diluted earnings per share attributable to Raytheon
Company common stockholders
2011
$20,786
4,071
24,857
16,275
3,422
19,697
1,678
625
22,000
2,857
172
(17)
12
167
793
1,897
(1)
1,896
30
$ 1,866
$ 5.28
—
5.28
2010
$21,386
3,797
25,183
17,022
3,281
20,303
1,648
625
22,576
2,607
126
(16)
65
175
589
1,843
36
1,879
39
$ 1,840
$ 4.79
0.10
4.88
2009
$21,761
3,120
24,881
17,071
2,676
19,747
1,527
565
21,839
3,042
123
(14)
3
112
953
1,977
(1)
1,976
41
$ 1,935
$ 4.89
—
4.89
% of Total Net Sales
2011
83.6 %
16.4 %
100.0 %
65.5 %
13.8 %
79.2 %
6.8 %
2.5 %
88.5 %
11.5 %
0.7 %
(0.1)%
— %
0.7 %
3.2 %
7.6 %
— %
7.6 %
0.1 %
7.5 %
2010
84.9 %
15.1 %
100.0 %
67.6 %
13.0 %
80.6 %
6.5 %
2.5 %
89.6 %
10.4 %
0.5 %
(0.1)%
0.3 %
0.7 %
2.3 %
7.3 %
0.1 %
7.5 %
0.2 %
7.3 %
2009
87.5 %
12.5 %
100.0 %
68.6 %
10.8 %
79.4 %
6.1 %
2.3 %
87.8 %
12.2 %
0.5 %
(0.1)%
— %
0.5 %
3.8 %
7.9 %
— %
7.9 %
0.2 %
7.8 %
Total Net Sales
The composition of external net sales by product and services for each segment in 2011 was approximately the following:
External Net Sales by Products and Services (% of segment total net external sales)
Products
Services
IDS
95%
5%
IIS
80%
20%
MS
100%
—%
NCS
90%
10%
SAS
90%
10%
TS
15%
85%
Total Net Sales - 2011 vs. 2010—The decrease in total net sales of $326 million in 2011 compared to 2010 was primarily due
to lower external net sales of $492 million at IDS, $380 million at NCS and $143 million at TS, partially offset by higher
external net sales of $501 million at SAS and $259 million at IIS. The decrease in external net sales at IDS was primarily