v3.19.3

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 29, 2019	Sep. 30, 2018	Sep. 29, 2019	Sep. 30, 2018
Net sales
Net sales	$ 7,446	$ 6,806	$ 21,334	$ 19,698
Operating expenses
General and administrative expenses	741	752	2,258	2,194
Total operating expenses	6,240	5,623	17,839	16,374
Operating income	1,206	1,183	3,495	3,324
Non-operating (income) expense, net
Retirement benefits non-service expense	152	516	514	993
Interest expense	45	45	134	138
Interest income	(10)	(6)	(30)	(21)
Other (income) expense, net	(17)	(8)	(45)	(6)
Total non-operating (income) expense, net	170	547	573	1,104
Income from continuing operations before taxes	1,036	636	2,922	2,220
Federal and foreign income taxes	175	(5)	473	165
Income from continuing operations	861	641	2,449	2,055
Income (loss) from discontinued operations, net of tax	(1)	0	(1)	0
Net income	860	641	2,448	2,055
Less: Net income (loss) attributable to noncontrolling interests in subsidiaries	0	(3)	(10)	(22)
Net income attributable to Raytheon Company	$ 860	$ 644	$ 2,458	$ 2,077
Basic earnings per share attributable to Raytheon Company common stockholders:
Income from continuing operations	$ 3.08	$ 2.25	$ 8.78	$ 7.24
Income (loss) from discontinued operations, net of tax	0	0	0	0
Net income	3.08	2.25	8.77	7.23
Diluted earnings per share attributable to Raytheon Company common stockholders:
Income from continuing operations	3.08	2.25	8.77	7.23
Income (loss) from discontinued operations, net of tax	0	0	0	0
Net income	$ 3.08	$ 2.25	$ 8.77	$ 7.23
Amounts attributable to Raytheon Company common stockholders:
Income from continuing operations	$ 861	$ 644	$ 2,459	$ 2,077
Income (loss) from discontinued operations, net of tax	(1)	0	(1)	0
Net income attributable to Raytheon Company	860	644	2,458	2,077
Products [Member]
Net sales
Net sales	6,187	5,656	17,743	16,417
Operating expenses
Cost of sales	4,522	3,970	12,826	11,610
Services [Member]
Net sales
Net sales	1,259	1,150	3,591	3,281
Operating expenses
Cost of sales	$ 977	$ 901	$ 2,755	$ 2,570

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

RAYTHEON CO/ 10-Q