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Execution United
Technologies
Corporation
Annual Report
2009 Financial and
Corporate Responsibility
Performance

Table of contents

  • Page 1
    Execution United Technologies Corporation Annual Report 2009 Financial and Corporate Responsibility Performance

  • Page 2
    ... building industries. Its businesses include Carrier heating, air-conditioning and refrigeration solutions; Hamilton Sundstrand aerospace and industrial systems; Otis elevators and escalators; Pratt & Whitney engines; Sikorsky helicopters; and UTC Fire & Security systems. The company also operates...

  • Page 3
    ... We concentrated on what we could control - restructuring our businesses, investing in research and technology, providing opportunities for our employees, and maintaining our steadfast commitment to being a responsible corporate citizen. Our leadership team executed ï¬,awlessly under very difficult...

  • Page 4
    Louis R. Chênevert Chairman & Chief Executive Officer 2 United Technologies Corporation

  • Page 5
    ... new technologies, our aggressive restructuring efforts have positioned UTC for long-term growth. By consolidating its large network of branch offices, UTC Fire & Security has lowered costs, better aligned itself with customers and positioned the company for growth. Carrier's business 2009 Annual...

  • Page 6
    ... outside of its core businesses and the acquisition of high-technology solutions and services companies. Otis, already the most profitable and cost-efficient company in its industry, continued to drive earnings growth by increasing and enhancing services to customers globally. At the center of our...

  • Page 7
    ... of our actions. Responsibility. Successful businesses improve the human condition. We maintain the highest ethical, environmental and safety standards everywhere, and we encourage and celebrate our employees' active roles in their communities. Results. We are a preferred investment because we meet...

  • Page 8
    ... Sundstrand, a global, integrated and advanced aerospace and industrial systems supplier, has used ACE to reduce turnaround time in its repair sites by more than 20 percent since 2005, setting a world-class standard of performance. The company has a number of major multiyear service contracts...

  • Page 9
    2009 Annual Report 7

  • Page 10
    ... Otis Elevator Company TEDA Center in Tianjin, continue to embrace ACE to improve productivity and enhance customer satisfaction. The Contracts The first cabin for the S-70i BLACK HAWK helicopter was completed in 2009 at Sikorsky's state-of-the-art manufacturing facility in Poland. At right, UTC...

  • Page 11
    ...planning and reducing billing-cycle time. Almost half of the company's 6,700 service technicians are now part of the i-service program. A Whole Foods market in Dedham, Mass., is meeting approximately 90 percent of its electricity and hot water requirements on site with fuel cell technology from UTC...

  • Page 12
    ... of Carrier and Otis are delivering products and services to help make a world exposition in Shanghai the greenest and most successful to date. More than 70 million visitors are expected to attend the event, which will be held from May through October of 2010. 10 United Technologies Corporation

  • Page 13
    2009 Annual Report 11

  • Page 14
    ...engines in history. In keeping with its green transportation initiatives, Chiquita Brands International is equipping its ï¬,eet with Carrier's ultra-efficient PrimeLINE container refrigeration units. At right, UTC Fire & Security is delivering and installing fire detection and fire alarm systems...

  • Page 15
    ... refrigeration units to its transport ï¬,eet. PrimeLINE units are the most energy efficient available, reducing power consumption by at least eight percent compared to competitive units. In 2009, UTC donated new Carrier airconditioning units to Habitat for Humanity's 41-unit building project...

  • Page 16
    Technology In 2009, we invested $3.7 billion in customer- and company-funded research and development, and continued our legacy of turning ideas into powerful new products and services. Pratt & Whitney's pioneering work in developing the PurePower PW1000G engine is setting new aviation standards. ...

  • Page 17
    2009 Annual Report 15

  • Page 18
    ... CH-53K helicopters. Also during the year, Sikorsky demonstrated automated approach technology on its S-92 helicopters. The technology enables helicopters to locate and land on offshore petroleum platforms with greater precision and safety than conventional systems. UTC Fire & Security released an...

  • Page 19
    ... installed as part of an electrical distribution system designed and built by Hamilton Sundstrand. In 2009, United Technologies Research Center marked its 80 anniversary. th In 2009, Pratt & Whitney teamed with Japan Airlines and Boeing to ï¬,ight test a nextgeneration, sustainable jet biofuel made...

  • Page 20
    ...tremendous opportunities for UTC, a company with a long history of executing profitable and environmentally responsible solutions for its customers. In South Korea, energy-efficient systems manufactured by Carrier and Otis are being used in the development of Songdo International Business District...

  • Page 21
    2009 Annual Report 19

  • Page 22
    ... the Office of the Architect of the Capitol in the House Office Buildings in Washington, D.C. At right, Otis' Compass destination management system is integrated with UTC Fire & Security's Lenel building security system at 7 World Trade Center in New York City. 20 United Technologies Corporation

  • Page 23
    .... The system also can be integrated with building security systems, such as those offered by Lenel, a UTC Fire & Security entity, to simplify security and building management and enhance operations and safety. In 2009, Carrier's NORESCO energy services company was awarded a $34 million project to...

  • Page 24
    ... in hand. These values are fully integrated into the way UTC executes its strategies and serves its customers. For example, 100 percent of the power for this Cabela's store in East Hartford, Conn., comes from four UTC Power fuel cells - a source of energy that is efficient and virtually pollution...

  • Page 25
    2009 Annual Report 23

  • Page 26
    ... safety improvements. At UTC, talent is critical for global business growth, and a diverse and welleducated workforce makes us stronger and more competitive. Our 20-year partnership with INROADS, a nonprofit organization providing career training and internships for minority youth, and our Employee...

  • Page 27
    ... to 2010 in energy conservation projects. Through year-end 2009, UTC approved $116 million in energy conservation projects, including continued investment in new co-generation power plants under construction in Connecticut at Sikorsky's Stratford and Hamilton Sundstrand's Windsor Locks facilities...

  • Page 28
    ... UTC's business comes from government contracts. Our building systems customers include architects, building owners and managers, contractors, and property developers. Our supply chain includes more than 50,000 companies, and in 2009, we spent more than $30 billion on procurement. UTC Supplier Gold...

  • Page 29
    ... in 2009 included the increased complexity of defense contracting rules and effectively communicating and instilling ethical standards across our global operations. 2010 Objectives • Work to improve responses to the UTC employee survey question "My managers comply with the UTC Code of Ethics" by...

  • Page 30
    ...Glance United Technologies Corporation provides high-technology products and services to the building systems and aerospace industries worldwide through our industry-leading businesses. In 2009, UTC undertook significant restructuring, cost reduction and portfolio realignment actions to manage the...

  • Page 31
    ... concern New products meeting goal Lost workday incident rate Cases/100 employees Energy efficiency New products meeting goal 7 0 6 06 0 0 09 0 06 0 0 09 07 0 09 *Re-baselined in 2006 to include Chubb, Kidde and Rocketdyne acquisitions No data prior to 2007 2009 Annual Report 29

  • Page 32
    .... Cost reduction, productivity, employee engagement and customer service are embedded disciplines at UTC. We manage all through our ACE (Achieving Competitive Excellence) operating system. We call it an operating system because it is not a program with a beginning or an end, but rather a way...

  • Page 33
    ...-conditioning units for apartments that will house athletes participating in the 2010 Commonwealth Games. In 2009, Carrier strengthened its sustainability profile, adding environmental stewardship as a core value and launching a new sustainability branding campaign. In addition, a team of employees...

  • Page 34
    ... air solutions, and Sundyne, which provides pump and compressor products for the process ï¬,uid and gas industries. Protecting employee and contractor health and safety is one of Hamilton Sundstrand's primary goals. To date, 14 of its sites have been awarded Voluntary Protection Program Star status...

  • Page 35
    ... the year, the Otis Elevator Company TEDA Center in Tianjin, China, was certified LEED Gold. Employee safety is a core value at Otis, and the company continues to work on improving its industry-leading performance. In 2009, Otis expanded its safety programs, such as fatality prevention audits and...

  • Page 36
    ... helicopters; land-based gas turbine and geothermal power solutions for the industrial and utility markets; maintenance, repair and overhaul services, including the sale of spare parts as well as ï¬,eet management services; liquid space propulsion systems for military and commercial applications...

  • Page 37
    ... million ï¬,ight hours without a single Class A material failure with the aircraft. The CH-53K heavy-lift helicopter program successfully passed its review by the U.S. Office of the Secretary of Defense. Sikorsky also continued to execute its global growth strategy in 2009, signing agreements that...

  • Page 38
    ... alarm, video surveillance, and fire systems; security monitoring and response. Highlights: UTC Fire & Security continues to expand globally. In 2009, the company announced an agreement to purchase GE Security, a major supplier of security and life safety products in Asia, Europe and the United...

  • Page 39
    ... Operations Consolidated Balance Sheet Consolidated Statement of Cash Flows Consolidated Statement of Changes in Equity Notes to Consolidated Financial Statements Board of Directors Permanent Committees Leadership Shareowner Information 38 39 61 61 62 63 64 65 66 68 94 94 95 96 2009 Annual Report...

  • Page 40
    ... with Chubb (acquired during 2003) forms the UTC Fire & Security segment. • During 2005, a 2-for-1 split of our common stock was effected in the form of a share dividend. Note 1 During 2009, we adopted the provisions of the Collaborative Arrangements Topic of the Financial Accounting Standards...

  • Page 41
    ... global provider of high technology products and services to the building systems and aerospace industries. Our operations are classified into six principal business segments: Otis, Carrier, UTC Fire & Security, Pratt & Whitney, Hamilton Sundstrand and Sikorsky. Otis, Carrier and UTC Fire & Security...

  • Page 42
    ... fire detection and life safety systems, intrusion alarms, video surveillance and access control systems. We intend to incorporate the GE Security business within the existing UTC Fire & Security segment, which will significantly enhance UTC Fire & Security's geographic diversity with GE Security...

  • Page 43
    ...lower customer demand for commercial refrigeration products as a result of weak economic conditions contributed to a decline in organic revenues. UTC Fire & Security revenues increased largely on the strength of fire safety sales in the oil & gas and marine industries as well as growth in Asia. The...

  • Page 44
    ... expenses as a percentage of sales from 2007 to 2008. Interest Expense (in millions of dollars) 2009 $ 705 3.1% 5.8% 2008 $ 689 5.6% 5.9% 2007 $ 666 6.2% 6.2% Interest expense Average interest rate during the year Short-term borrowings Total debt 5 42 United Technologies Corporation

  • Page 45
    ... per share Income Taxes 2009 Effective income tax rate 27.4% 2008 27.1% 2007 28.8% The effective tax rates for 2009, 2008 and 2007 reflect tax benefits associated with lower tax rates on international earnings, which we intend to permanently reinvest outside the United States. The 2009 effective...

  • Page 46
    ... (in millions of dollars) 2009 $158 210 112 190 88 7 62 3 $830 2008 $ 21 140 63 116 16 - 1 - $357 Otis Carrier UTC Fire & Security Pratt & Whitney Hamilton Sundstrand Sikorsky Eliminations and other General corporate expenses Total such as Kidde and Initial Electronic Security Group (IESG), with...

  • Page 47
    ... 13.1% 2008 19.1% 8.8% 8.4% 15.1% 17.7% 8.9% 13.4% 2007 19.5% 9.4% 7.7% 15.4% 17.2% 7.8% 13.4% Otis Carrier UTC Fire & Security Pratt & Whitney Hamilton Sundstrand Sikorsky Total segment Eliminations and other General corporate expenses Consolidated 12.2% 12.8% 12.7% Commercial Businesses The...

  • Page 48
    ... UTC Power's micro-turbinebased combined cooling, heating and power systems business. Carrier's products and services are sold under Carrier and other brand names to building contractors and owners, homeowners, transportation companies, retail stores and food service companies. Carrier sells...

  • Page 49
    ... second quarter of 2005 upon acquiring Kidde and adding the Kidde industrial, retail and commercial fire safety businesses to the former Chubb segment. UTC Fire & Security provides electronic security products such as intruder alarms, access control systems and video surveillance systems and designs...

  • Page 50
    ... Fire Safety businesses (2%) due to strength in the oil & gas and marine industries and in Asia. UTC Fire & Security's operating profits increased $99 million (22%) in 2008, as compared with 2007. The operational profit improvement (18%) was due principally to increased sales volume, the benefits of...

  • Page 51
    ...commercial and military markets. Pratt & Whitney also sells engines for industrial applications and space propulsion systems. P&WC is a world leader in the production of engines powering business, regional, light jet, utility and military aircraft and helicopters. Pratt & Whitney Rocketdyne (PWR) is...

  • Page 52
    ... suppliers of technologically advanced aerospace and industrial products and aftermarket services for diversified industries worldwide. Hamilton Sundstrand's aerospace products, such as power generation, management and distribution systems, flight systems, engine control systems, environmental...

  • Page 53
    ... support programs and partnering with its government and commercial customers to manage and provide maintenance and repair services. Factors Contributing to Total % Change Year-Over-Year in: 2009 Operating Revenues Profits Organic revenue/ Operational operating profit Acquisitions and divestitures...

  • Page 54
    ... UTC Power to Carrier, Pratt & Whitney and Hamilton Sundstrand. The increase in the operating profit elimination in 2009, as compared with 2008, is primarily attributable to curtailment charges related to the impact of headcount reductions on the domestic pension plans, and to increased inventory...

  • Page 55
    ... $1 billion associated with the corresponding declines in volume and inventory levels. The funded status of our pension plans is dependent upon many factors, including returns on invested assets and the level of market interest rates. We can contribute cash or company stock 16 2009 Annual Report 53

  • Page 56
    ... regulatory approvals and the satisfaction of customary closing conditions, the closing of the GE Security acquisition is anticipated to take place early in the second quarter of 2010. Cash Flow from Financing Activities (in millions of dollars) 2009 $(4,191) 2008 $(2,238) Net cash flows used in...

  • Page 57
    ... effect of the issuance of stock and options under the stock-based employee benefit programs. At December 31, 2009, we had remaining authority to repurchase approximately 9 million shares under the current program. We expect total share repurchases in 2010 to approximate $1.5 billion; however, total...

  • Page 58
    ...the Consolidated Financial Statements for further discussion. Contracting with the U.S. Government. Our contracts with the U.S. government are subject to government oversight and audit. Like many defense contractors, we have received audit reports, which recommend that certain contract prices should...

  • Page 59
    ... bond indices for reasonableness. Global market interest rates have decreased in 2009 as compared with 2008 and, as a result, the weighted-average discount rate used to measure pension liabilities decreased from 6.1% in 2008 to 5.9% in 2009. In December 2009, we amended the salaried retirement plans...

  • Page 60
    ... service and warranty policies, performance and operating cost guarantees, estimated environmental remediation costs and expected contributions under employee benefit programs. The timing of expected cash flows associated with these obligations is based upon management's estimates over the terms...

  • Page 61
    ... civil False Claims Act and common law. This lawsuit relates to the "Fighter Engine Competition" between Pratt & Whitney's F100 engine and General Electric's F110 engine. The DOJ alleges that the government overpaid for F100 engines under contracts awarded by the U.S. Air Force in fiscal years 1985...

  • Page 62
    ... in the fiscal years beginning on or after June 15, 2010. Early application is permitted. We are currently evaluating this new ASU. In October 2009, the FASB issued ASU No. 2009-14, "Certain Revenue Arrangements That Include Software Elements." This ASU changes the accounting model for revenue...

  • Page 63
    ... economic conditions in the United States and globally, including the financial condition of our customers and suppliers; new business opportunities; restructuring costs and savings; the scope, nature or impact of acquisition and divestiture activity including integration of acquired businesses into...

  • Page 64
    ...on these financial statements and on the Corporation's internal control over financial reporting based on our integrated audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform...

  • Page 65
    ... of services sold Research and development Selling, general and administrative Operating profit Interest Income before income taxes Income tax expense Net income Less: Noncontrolling interest in subsidiaries' earnings Net income attributable to common shareowners Earnings per share of common stock...

  • Page 66
    ... - shares in thousands) 2009 2008 Assets Cash and cash equivalents Accounts receivable (net of allowance for doubtful accounts of $390 and $332) Inventories and contracts in progress, net Future income tax benefits, current Other assets, current Total Current Assets Customer financing assets...

  • Page 67
    ..., end of year Supplemental Disclosure of Cash Flow Information: Interest paid, net of amounts capitalized Income taxes paid, net of refunds Non-cash investing and financing activities include: Contributions of UTC Common Stock to domestic defined benefit pension plans of $0, $250 and $150 in 2009...

  • Page 68
    ... interest accretion Purchase of subsidiary shares in noncontrolling interest Acquired noncontrolling interest Other changes in noncontrolling interest Balance at December 31, 2009 See accompanying Notes to Consolidated Financial Statements 66 United Technologies Corporation $ 9,622 $ (9,413...

  • Page 69
    ... (19) (114) $18,576 4,224 716 776 (84) 139 $(227) Unearned ESOP Shares $(227) Accumulated Other Comprehensive Income (Loss) $(1,439) 470 Noncontrolling Interest $ 755 Total Equity $18,052 425 (19) (...) 19 (329) (9) (25) 36 (8) $27,396 $(181) $(3,487) $ 933 (17) 9 (3) 143 $389 2009 Annual Report 67

  • Page 70
    ...147 million and $176 million at December 31, 2009 and 2008, respectively. The year-over-year decline largely results from a decrease in inventories associated with the disposition of certain businesses in our Carrier segment. Costs accumulated against specific contracts or orders are at actual cost...

  • Page 71
    ... contribute their program share of engine parts, incur their own production costs and make certain payments to Pratt & Whitney for shared or joint program costs. The reimbursement of a collaborator's share of program costs is recorded as a reduction of the related expense item at that time. Research...

  • Page 72
    ... cost. This guidance was effective for publicly-held companies for fiscal years ending after December 15, 2006, except for the measurement date provisions, which were effective for fiscal years ending after December 15, 2008. Based on the funded status of our plans as of December 31, 2006, the...

  • Page 73
    ...fire detection and life safety systems, intrusion alarms, and video surveillance and access control systems. We intend to incorporate the GE Security business within our existing UTC Fire & Security segment, which will significantly enhance UTC Fire & Security's geographic diversity with GE Security...

  • Page 74
    ... 31, 2009 $ 1,382 3,252 5,641 1,237 4,496 250 16,258 40 $16,298 Otis Carrier UTC Fire & Security Pratt & Whitney Hamilton Sundstrand Sikorsky Total Segments Eliminations and other Total The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards...

  • Page 75
    ... certain aerospace programs. These capitalized costs will be liquidated as production units are delivered to the customer. The capitalized contract research and development costs within inventory principally relate to capitalized costs on Sikorsky's CH-148 contract with the Canadian government. The...

  • Page 76
    ... on sales contracts and service billings Accrued salaries, wages and employee benefits Litigation and contract matters Service and warranty accruals Income taxes payable Interest payable Accrued property, sales and use taxes Accrued restructuring costs Accrued workers compensation Other Long-term...

  • Page 77
    ... financing acquisitions and repurchases of our stock. The project financing obligations noted above are associated with the sale of rights to unbilled revenues related to the ongoing activity of an entity acquired in 2008 by Carrier. The percentage of total debt at floating interest rates was...

  • Page 78
    ..., including the IRS's completion of 2004 and 2005 examination fieldwork and our related protest filing. As a result of the global examination activity, we recognized approximately $18 million of associated pre-tax interest income adjustments during 2009. The 2008 effective tax rate reflects $62...

  • Page 79
    ...the timing would not impact the annual effective tax rate but could accelerate the payment of cash to the taxing authority to an earlier period. We conduct business globally and, as a result, UTC or one or more of our subsidiaries file income tax returns in the U.S. federal 40 2009 Annual Report 77

  • Page 80
    for 2009, 2008 and 2007, respectively. Effective January 1, 2010, newly hired non-union employees will receive all of their retirement benefits through the defined contribution savings plan. Our non-union domestic employee savings plan uses an Employee Stock Ownership Plan (ESOP) for employer ...

  • Page 81
    ... and 36% income generating assets using a wide diversification of asset types, fund strategies and investment managers. The growth seeking allocation consists of global public equities in developed and emerging countries, private equity, real estate and balanced market risk strategies. Within global...

  • Page 82
    ... in/out (net) Ending Balance, December 31, 2009 Quoted market prices are used to value investments when available. Investments in securities traded on exchanges, including listed futures and options, are valued at the last reported sale prices on the last business day of the year or, if not...

  • Page 83
    ... using discounted cash flows, earnings multiples and market multiples. Valuation adjustments reflect changes in operating results, financial condition, or prospects of the applicable portfolio company. Over-the-counter securities and government obligations are valued at the bid prices or the average...

  • Page 84
    ... the Compensation - Stock Compensation Topic of the FASB ASC, for the years ended December 31, 2009, 2008 and 2007, $50 million, $32 million and $130 million, respectively, of certain tax benefits have been reported as operating cash outflows with corresponding cash inflows from financing activities...

  • Page 85
    ... long-term incentive plans for the three years ended December 31, 2009 follows: Stock Options Stock Appreciation Rights Performance Share Units (shares and units in thousands) Shares Average Price * Shares Average Price * Units Average Price ** Other Incentive Shares/ Units Outstanding...

  • Page 86
    ...September 21, 2009, Pratt & Whitney announced plans to close its Connecticut Airfoil Repair Operations facility in East Hartford, Connecticut by the second quarter of 2010 and its engine overhaul facility in Cheshire, Connecticut by early 2011. On September 22, 2009, the International Association of...

  • Page 87
    ... 69 109 9 - $355 Otis Carrier UTC Fire & Security Pratt & Whitney Hamilton Sundstrand Sikorsky Eliminations and other General corporate expenses Total Otis Carrier UTC Fire & Security Pratt & Whitney Hamilton Sundstrand Eliminations and other Total 2008 Actions. During 2009, we recorded net pre...

  • Page 88
    ... in Other Income, net Assuming current market conditions continue, of the amount recorded in Accumulated other comprehensive loss, a $97 million pre-tax gain is expected to be reclassified into product sales or cost of products sold to reflect the fixed prices obtained from foreign exchange hedging...

  • Page 89
    ... December 31, 2009 and 2008 are as follows: 2009 Carrying Fair Amount Value 2008 Carrying Amount (in millions of dollars) Fair Value Financial Assets and Liabilities Marketable equity securities Long-term receivables Customer financing notes receivable Short-term borrowings Long-term debt $ 664...

  • Page 90
    ... program share of engine parts, incur their own production costs and make certain payments to Pratt & Whitney for shared or joint program costs. The reimbursement of the collaborator's share of program costs is recorded as a reduction of the related expense item at that time. As of December 31, 2009...

  • Page 91
    ... of dollars) 2009 $772 29 2008 $1,059 17 2007 $942 15 Collaborator share of revenues: Cost of products sold Cost of services sold Collaborator share of program costs (reimbursement of expenses incurred): Cost of products sold Research and development Selling, general and administrative (66) (97...

  • Page 92
    ... civil False Claims Act and common law. This lawsuit relates to the "Fighter Engine Competition" between Pratt & Whitney's F100 engine and General Electric's F110 engine. The DOJ alleges that the government overpaid for F100 engines under contracts awarded by the U.S. Air Force in fiscal years 1985...

  • Page 93
    ... 52 1,098 75 $1,173 Otis Carrier UTC Fire & Security Pratt & Whitney Hamilton Sundstrand Sikorsky Total segment Eliminations and other 1 Consolidated 1 The asset increase from 2007 to 2008 primarily reflects the increase in cash and cash equivalents held at UTC Corporate. 54 2009 Annual Report 91

  • Page 94
    ... Europe Asia Pacific Other Major Customers. Revenues include sales under prime contracts and subcontracts to the U.S. government, primarily related to Pratt & Whitney, Hamilton Sundstrand and Sikorsky products, as follows: (in millions of dollars) 2009 $3,942 1,230 3,979 127 $9,278 2008 $3,804...

  • Page 95
    ... Industrials 2004 United Technologies Corporation S&P 500 Index Dow Jones Industrial Average $100.00 $100.00 $100.00 2005 $110.05 $104.91 $101.75 December 2006 2007 $125.08 $121.48 $121.11 $155.65 $128.16 $131.85 2008 $111.40 $ 80.74 $ 89.77 2009 $148.48 $102.11 $109.34 56 2009 Annual Report...

  • Page 96
    ... of the Department of Defense Carlos M. Gutierrez Former U.S. Secretary of Commerce (Government Service) Former Chairman and CEO Kellogg Company (Food Products) Edward A. Kangas Former Chairman and CEO, Deloitte Touche Tohmatsu (Audit and Tax Services) Charles R. Lee Retired Chairman and Co-Chief...

  • Page 97
    ... Aerospace Services David G. Appel President, HVAC EMEA, Carrier Alain M. Bellemare President, Hamilton Sundstrand Richard H. Bennett, Jr. Vice President, Environment, Health & Safety Anthony C. Black Senior Vice President, Operations, UTC Fire & Security Carey E. Bond President, Sikorsky Global...

  • Page 98
    ... of the UTC Annual Report on Form 10-K for 2009 filed with the Securities and Exchange Commission by writing to: Corporate Secretary United Technologies Corporation United Technologies Building Hartford, Connecticut 06101 For additional information about UTC, please contact Investor Relations at the...

  • Page 99
    ... consecutive year in 2009 for providing internships to 195 students across the United States, Canada and Mexico. The National Building Museum awarded UTC its 2009 Honor Award: Visionaries in Sustainability. India's Ministry of Power and Bureau of Energy Efficiency (BEE) recognized Carrier India at...

  • Page 100
    United Technologies Building Hartford, Connecticut 06101 U.S.A. www.utc.com Carrier Hamilton Sundstrand Otis Pratt & Whitney Sikorsky UTC Fire & Security UTC Power 002CS1A398