ࡱ> }~ l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~8#܈ ~~9#܈ ~~3#܈ ~~4#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33&UNITED TECHNOLOGIES CORPORATION&,Securities registered pursuant %DSecurities registered purs (1)#YYear Ended December 31 2017 &/|Issuer Purchases of Equity Secu&Executive Officers of the RegisPART IVJ PART IV (1) PART IV (2)&wThree years ended December 31 2&I4STATEMENT RE COMPUTATION OF PER&laSTATEMENT RE COMPUTATION OF RATFiveYear Summary7BUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Salesv Net Sales (1)&*Cost of Products and Services S&?Cost of Products and Servic (1)U Gross MarginIkResearch and Development&wSelling General and AdministratMInterest Expense Net&Net Income Attributable to Comm&Net Loss Income Attributable to58RESTRUCTURING COSTSSEGMENT REVIEWaCommercial Businesses 0Commercial Businesses (1) LCommercial Businesses (2):i2016 Compared with 2015 ")2016 Compared with 2015 (1)_Aerospace BusinessesOAerospace Businesses (1)2016 Compared with 2015"2016 Compared with 2015 (2)Eliminations and other&216LIQUIDITY AND FINANCIAL CONDI$lKCRITICAL ACCOUNTING ESTIMATES&cOFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS&K33Consolidated Statement of Ope&34Consolidated Statement of Com#535Consolidated Balance Sheet&c'36Consolidated Statement of Cas&g37Consolidated Statement of Cha&t37Consolidated Statement of (1)&CNOTE 1 SUMMARY OF ACCOUNTING PR&NOTE 1 SUMMARY OF ACCOUNTIN (1)&yNOTE 1 SUMMARY OF ACCOUNTIN (2)&W!NOTE 2 BUSINESS ACQUISITIONS DI&>NOTE 2 BUSINESS ACQUISITION (1) [NOTE 4 EARNINGS PER SHARE&{49NOTE 5 COMMERCIAL AEROSPACE I&NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS#51NOTE 8 ACCRUED LIABILITIES&52NOTE 9 BORROWINGS AND LINES O&52NOTE 9 BORROWINGS AND LIN (1)&52NOTE 9 BORROWINGS AND LIN (2)&6=52NOTE 9 BORROWINGS AND LIN (3)RNOTE 10 EQUITYuNOTE 11 INCOME TAXESƋNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)$NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)&. 59NOTE 12 EMPLOYEE BENEFIT PLAN&{/59NOTE 12 EMPLOYEE BENEFIT (1)&D59NOTE 12 EMPLOYEE BENEFIT (2)&^59NOTE 12 EMPLOYEE BENEFIT (3)&Mu59NOTE 12 EMPLOYEE BENEFIT (4)&59NOTE 12 EMPLOYEE BENEFIT (5)&59NOTE 12 EMPLOYEE BENEFIT (6)&59NOTE 12 EMPLOYEE BENEFIT (7)&59NOTE 12 EMPLOYEE BENEFIT (8)&p 59NOTE 12 EMPLOYEE BENEFIT (9)&M2 59NOTE 12 EMPLOYEE BENEFIT (10)&H 59NOTE 12 EMPLOYEE BENEFIT (11)&*_ 59NOTE 12 EMPLOYEE BENEFIT (12)&t 59NOTE 12 EMPLOYEE BENEFIT (13)&K 59NOTE 12 EMPLOYEE BENEFIT (14)&! 59NOTE 12 EMPLOYEE BENEFIT (15)&I 59NOTE 12 EMPLOYEE BENEFIT (16)& 59NOTE 12 EMPLOYEE BENEFIT (17)& 59NOTE 12 EMPLOYEE BENEFIT (18)"q NOTE 13 RESTRUCTURING COSTS&* NOTE 13 RESTRUCTURING COSTS (1)&> NOTE 13 RESTRUCTURING COSTS (2)&U NOTE 13 RESTRUCTURING COSTS (3)&'n NOTE 13 RESTRUCTURING COSTS (4)& NOTE 13 RESTRUCTURING COSTS (5)$ NOTE 14 FINANCIAL INSTRUMENTS$w NOTE 14 FINANCIAL INSTRUM (1)$ NOTE 14 FINANCIAL INSTRUM (2)& NOTE 15 FAIR VALUE MEASUREMENTS&m NOTE 15 FAIR VALUE MEASUREM (1)&B NOTE 15 FAIR VALUE MEASUREM (2)&, NOTE 15 FAIR VALUE MEASUREM (3)& F NOTE 16 VARIABLE INTEREST ENTIT\ 74NOTE 17 GUARANTEESv 74NOTE 17 GUARANTEES (1)%. NOTE 19 SEGMENT FINANCIAL DATA% NOTE 19 SEGMENT FINANCIAL (1)%b NOTE 19 SEGMENT FINANCIAL (2)% NOTE 19 SEGMENT FINANCIAL (3)% NOTE 19 SEGMENT FINANCIAL (4)& 79 SELECTED QUARTERLY FINANCIAL&6A COMPARATIVE STOCK DATA UNAUDITE&g\ COMPARISON OF CUMULATIVE FIVE Yu NO TITLEϗ NO TITLE (1): NO TITLE (2)t NO TITLE (3) l  M,  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 6}       %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018'UNITED TECHNOLOGIES CORPORATION   DELAWARE  06-0570975' (State or Other Jurisdiction of (I.R.S. Employer& Incorporation or Organization) Identification No.)  5-10 Farm Springs Road, Farmington, Connecticut~ B^0((Address of principal executive offices) (Zip Code)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.~znbVJ2x`=PF0*8X> @ l  D  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } I"} $ } 1      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018C;Securities registered pursuant to Section 12(b) of the Act:    Title of each class 1 )Name of each exchange on which registered# Common Stock ($1 par value)  New York Stock Exchange (CUSIP 913017 10 9)   1.250% Notes due 2023  New York Stock Exchange(CUSIP U91301 AD0)1.125% Notes due 2021New York Stock Exchange(CUSIP 913017 CD9)1.875% Notes due 2026New York Stock Exchange(CUSIP 913017 CE7)$Floating Rate Notes due 2018New York Stock Exchange(CUSIP 913017 CC1)$Floating Rate Notes due 2019New York Stock Exchange(CUSIP 913017 CS6)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/<h^RF:. TG4qeY1=PF0*8X> @ l  )Y  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } U} 8} $ } } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018C;Securities registered pursuant to Section 12(b) of the Act:      Large accelerated filer ?  Accelerated filer ? Non-accelerated filer7 /? (Do not check if a smaller reporting company) ! Smaller reporting company ?    Emerging growth company ? $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(sT^RF:.^=PF0*8X> @ l  Pow{  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)!Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } :}  P     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018$Year Ended December 31, 2017    Page   PART I   Item 1. Business:~ /'Cautionary Note Concerning Factors That~ *!May Affect Future ResultsItem 1A. Risk Factors~ .*"Item 1B. Unresolved Staff Comments~ NItem 2. Properties~ N!Item 3. Legal Proceedings~ N'Item 4. Mine Safety Disclosures~ RPART II.&Item 5. Market for Registrant?s Common~ VDhl}qeYM5G" oC+p !"#$%&'()*+,-./0123456789:;<=>?/ 'Equity, Related Stockholder Matters and-!%Issuer Purchases of Equity Securities""'#Item 6. Selected Financial Data~ #V$$4%,Item 7. Management?s Discussion and Analysis~ %V8&0of Financial Condition and Results of Operations''-(%Item 7A. Quantitative and Qualitative~ (V%)Disclosures About Market Risk**6+.Item 8. Financial Statements and Supplementary~ +Z ,Data--1.)Item 9. Changes in and Disagreements with~ .Z//'Accountants on Accounting and Financial0 Disclosure11(2 Item 9A. Controls and Procedures~ 2Z334PART III455.6&Item 10. Directors, Executive Officers~ 6Z 7and Corporate Governance88'9Item 11. Executive Compensation~ 9b::.;&Item 12. Security Ownership of Certain~ ;b4<,Beneficial Owners and Management and Related=Stockholder Matters>>2?*Item 13. Certain Relationships and Related~ ?bDlK3Z1f3{;n6@ABCDEFGHIJKLMNO/@'Transactions, and Director IndependenceAA.B&Item 14. Principal Accounting Fees and~ BbCServicesDDEPART IVEFF1G)Item 15. Exhibits and Financial Statement~ GfHScheduleIIJ SIGNATURES~ JvKL$M____________________________1N)Created by Morningstar Document Research.0O(http://documentresearch.morningstar.com/$j,uaI*sg?=PF0*8X> @OONNMM l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } } $ } $} $ } $} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018-%Issuer Purchases of Equity Securities                ~  (  Total Number of Shares Purchased $ Average Price Paid per Share 0 (Total Number of Shares Purchased as Part / 'Approximate Dollar Value of Shares that   (000's)     ' of a Publicly Announced Program . &May Yet Be Purchased Under the Program          (000's)  (dollars in millions) October 1 - October 31 ~    Q]@  ~   ~ $   November 1 - November 30~ = ףp]@~    ~  # December 1 - December 31~ fffff_@~    ~  # Total~ (\U^@~     $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0S th\PDEy=PF0*8X> @         l  C  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } } $ } :} $ } y<} $ }  C     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018,$Executive Officers of the Registrant        Name  Title 0 (Other Business Experience Since 1/1/2013   Age as of       2/8/2018     Elizabeth B. Amato . &Executive Vice President & Chief Human . &Senior Vice President, Human Resources ~ .&Resources Officer, United Technologies-%and Organization, United Technologies( Corporation (since August 2012)* CorporationRobert J. Bailey-%Corporate Vice President, Controller,1)Vice President & Chief Financial Officer,~ .&United Technologies Corporation (sincePratt & WhitneySeptember 2016)Michael R. Dumais,$Executive Vice President, Operations2*Senior Vice President, Strategic Planning,~ 3+& Strategy, United Technologies Corporation3+United Technologies Corporation; President,(since January 2017).&Power, Controls & Sensing Systems, UTCAerospace SystemsCharles D. Gill3+Executive Vice President & General Counsel,2*Senior Vice President and General Counsel,~ .&United Technologies Corporation (since'United Technologies Corporation2007)*David L. Gitlin/'President, UTC Aerospace Systems (since2*President, Aircraft Systems, UTC Aerospace~  January 2015)0(Systems; Senior Vice President, AircraftDA lui]QEc#5-5x+Af !"#$%&'()*+,-./0123456789:;<=>?    & Systems, UTC Aerospace Systems!!!!"Gregory J. Hayes"2"*Chairman (since September 2016), President"1")Senior Vice President and Chief Financial"~ "##8#0and Chief Executive Officer, United Technologies#0#(Officer, United Technologies Corporation$$)$!Corporation (since November 2014)$$%%%%%%%& Akhil Johri&2&*Executive Vice President & Chief Financial&1&)Senior Vice President and Chief Financial&~ &''0'(Officer, United Technologies Corporation'1')Officer, United Technologies Corporation;((((since January 2015)*(2(*Chief Financial Officer, Pall Corporation;))))5)-Vice President of Finance and Chief Financial****5*-Officer of UTC Propulsion & Aerospace Systems+++++++,Robert F. Leduc,1,)President, Pratt & Whitney (since January,0,(President, Sikorsky Aircraft; President,,~ ,--~ --:-2Boeing Programs and Space, Hamilton Sundstrand/UTC.....Aerospace Systems///////0Judith F. Marks0/0'President, Otis Elevator (since October0-0%Chief Executive Officer, Dresser-Rand0~ 011~ 1151-(a Siemens company); Chief Executive Officer,2222.2&Siemens USA; Executive Vice President,333333+Dresser-Rand; President and Chief Executive444404(Officer, Siemens Government Technologies5555 5Inc.66667Robert J. McDonough737+President, UTC Climate, Controls & Security7.7&Chief Operating Officer, Americas, UTC7~ 7888(since September 2015)868.Building & Industrial Systems; Chief Operating999909(Officer, Americas, UTC Climate, Controls::::4:,& Security; President, UTC Climate, Controls;;;;;& Security, Americas<<<<<<<=David R. Whitehouse=,=$Corporate Vice President, Treasurer,=6=.Vice President, Treasurer, United Technologies=~ =>>.>&United Technologies Corporation (since>/>'Corporation; Director, Capital Markets,??? April 2015)*?'?United Technologies CorporationDlv)x7Sp#QF\xl@AB$@____________________________1A)Created by Morningstar Document Research.0B(http://documentresearch.morningstar.com/ (=PF0*8X> @BBAA@@ l  '  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } y<} $ } $} $ '     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018PART IV       Page Number in    Annual Report   / 'Report of Independent Registered Public ~ ~ Accounting Firm,$Consolidated Statement of Operations~ 3+for the three years ended December 31, 2017/'Consolidated Statement of Comprehensive~ :2Income for the three years ended December 31, 2017:2Consolidated Balance Sheet as of December 31, 2017~ and 20160(Consolidated Statement of Cash Flows for~ /'the three years ended December 31, 20173+Consolidated Statement of Changes in Equity~ 3+for the three years ended December 31, 20172*Notes to Consolidated Financial Statements~ D:lznb2R7b C/ ~Z !"#$%&   5!-Selected Quarterly Financial Data (Unaudited)!~ !.!"#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/x}qe==PF0*8X> @*&&%%$$   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 6} $ }       %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018PART IV      Page Number in    Form 10-K   3 +SCHEDULE I-Report of Independent Registered  S-I5-Public Accounting Firm on Financial StatementSchedule,$SCHEDULE II-Valuation and Qualifying S-IIAccounts$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2znb> i0d=PF0*8X> @ l  /X  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } I } $ } 7 /     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018PART IV   ~ b 2 *Powers of Attorney of Lloyd J. Austin III,  4 ,Diane M. Bryant, John V. Faraci, Jean-Pierre  4 ,Garnier, Edward A. Kangas, Ellen J. Kullman,  1 )Marshall O. Larsen, Harold W. McGraw III,4,Margaret L. O'Sullivan, Fredric G. Reynolds,5-Brian C. Rogers, and Christine Todd Whitman.*?@0(Rule 13a-14(a)/15d-14(a) Certification.*333333?@0(Rule 13a-14(a)/15d-14(a) Certification.*L?@0(Rule 13a-14(a)/15d-14(a) Certification.*~ %Section 1350 Certifications.*101.INS XBRL Instance Document.*%(File name: utx-20171231.xml)101.SCH1)XBRL Taxonomy Extension Schema Document.*%(File name: utx-20171231.xsd)101.CAL5-XBRL Taxonomy Calculation Linkbase Document.*Dlznb>N` @..--,, l  ..2  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } y<} $ .     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018+#Three years ended December 31, 2017     2 *Allowances for Doubtful Accounts and Other  $ Customer Financing Activity:" Balance, December 31, 2014 ~  # Provision charged to income ~ & +#Doubtful accounts written off (net)~ Other adjustments~ "Balance, December 31, 2015~ #Provision charged to income~ +#Doubtful accounts written off (net)~ ^Other adjustments~ N"Balance, December 31, 2016~ N#Provision charged to income~ b+#Doubtful accounts written off (net)~ Other adjustments~ "Balance, December 31, 2017~ ",$Future Income Tax Benefits-Valuation allowance:"Balance, December 31, 2014~  /'Additions charged to income tax expense~ :2Additions charged to goodwill, due to acquisitions~ 1)Reductions credited to income tax expense~ ^Other adjustments~ D lvj^RF Hcu2DmW N !"#$%&'()*+,-" Balance, December 31, 2015 ~ >  /!'Additions charged to income tax expense!~ !!1")Reductions credited to income tax expense"~ ""#Other adjustments#~ ##"$Balance, December 31, 2016$~ $$/%'Additions charged to income tax expense%~ %%1&)Reductions credited to income tax expense&~ &&'Other adjustments'~ 'V'"(Balance, December 31, 2017(~ ( ()*$+____________________________1,)Created by Morningstar Document Research.0-(http://documentresearch.morningstar.com/ [qz."=PF0*8X> @--,,++((''&&%%$$##""!!    l  -AV]  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 7} $ -     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20187/STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS                       Full year. &(dollars in millions, except per share~  ~  ~ ~ ~ z ~ v% amounts, shares in thousands)- %Net income from continuing operations~ "G  ~ &O  ~ r>  ~ ^  ~ FR 6.Net (loss) income from discontinued operations -~ ~  r8  ~  j~ "5-Net income attributable to common shareowners~ "G~ N~  v  ~  2a~ fY   -%Net income from continuing operations~ "G~ &O~  r>  ~  ^~ FR!Basic earnings for period~ "G~ &O~  r>  ~  ^~ FR#Diluted earnings for period~ "G~ &O~  r>  ~  ^~ FR2*Basic average number of shares outstanding~ 70~ b1~  C5  ~  6~ "6during the period Stock awards~ 2~ r{~    ~  ~ R4,Diluted average number of shares outstanding~ 0~ k2~  5  ~  £7~ r7during the period4,Basic earnings per common share - continuing ףp= @(\@ RQ@   @\(\@ operations6.Diluted earnings per common share - continuing@Q@ Q@   @@ operations   5-Net income attributable to common shareowners~ "G~ N~  v  ~  2a~ fY!Basic earnings for period~ "G~ N~  v  ~  2a~ fYD&lj^RF:J)Xu'Dm !"#$%&'()*+,# Diluted earnings for period~ "G  ~ N  ~ v  ~ 2a  ~ fY 2!*Basic average number of shares outstanding~ !70!!~ !b1!!~ ! C5! ! ~ ! 6!!~ !"6!"during the period# Stock awards~ #2##~ #r{##~ # # # ~ # ##~ #R#4$,Diluted average number of shares outstanding~ $0$$~ $k2$$~ $ 5$ $ ~ $ £7$$~ $r7$%during the period'&Basic earnings per common share& ףp= @&&&Q@&&& q= ףp!@& & & Gz@&&&ffffff@&)'!Diluted earnings per common share'@'''{Gz@''' Q8!@' ' ' HzG@'''@'()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/@'?"XnQ`maU-=PF0*8X> @Bh,,++**'''''' '' ''&&&&&& && &&$$$$$$ $$ $$###### ## ##!!!!!! !! !!                                      l  `  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PERFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 0} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018G?STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES                       Full year (dollars in millions)~  ~  ~ ~ ~ z ~ v Fixed Charges:          Interest expense 1~   ~ &  ~   ~ .  ~ " Interest capitalized~ ~ ~  n  ~  f~ ZOne-third of rents 2~ &~ ~    ~  F~ :Total fixed charges~ ~ ~  6  ~  ~  Earnings:    0(Income from continuing operations before~ Ny~ vo~  e  ~  "~ w income taxesFixed charges per above~ ~ ~  6  ~  ~ "Less: capitalized interest~ ~~ z~    ~  ~ ~  ~ *~    ~  r~ Z,$Amortization of interest capitalized~ *~ &~  2  ~  2~ .Total earnings~ ~~ ƒ~  v  ~  ›~ *"Ratio of earnings to fixed chargesGz@{Gz@ q= ףp@   q= ףp@(\@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/B&XZNB6*:,Z'O=PF0*8X> @@                              l  7  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE 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~ z ~ v amounts)  For The Year           Net sales~   ~ r~  ~ l  ~   ~ bt  Research and development~ N%~ $~  #  ~  &~ $Restructuring costs~ ~ ~  2  ~  ~ -%Net income from continuing operations~ L~ T~  D  ~  e~ ^X~ -%Net income from continuing operations~ "G~ &O~  r>  ~  ^~ FR,$attributable to common shareowners 1   +#Basic earnings per share-Net income ףp= @(\@ RQ@   @\(\@/'from continuing operations attributableto common shareowners-%Diluted earnings per share-Net income@Q@ Q@   @@/'from continuing operations attributableto common shareowners'Cash dividends per common share(\@(\@ {Gz@   zG@@   0(Average number of shares of Common Stock    outstanding: Basic~ Z ~  ~     ~   ~ Dl|pdXh(a>IA !"#$%&'()*+,-./0123456 Diluted~ ~   ~    ~    ~ B  ~ N 3!+Cash flows provided by operating activities~ !W!!~ !2d!!~ ! i! ! ~ ! m!!~ !r! "of continuing operations#Capital expenditures 2~ #z##~ ###~ # # # ~ # ##~ ##,$$Acquisitions, including debt assumed~ $$$~ $" $$~ $ $ $ ~ $ J$$~ $^$%%Repurchases of Common Stock 3~ %%%~ %:#%%~ % B% % ~ % r%%~ %%1&)Dividends paid on Common Stock (excluding~ &j &&~ &V &&~ & ""& & ~ &  &&~ && 'ESOP)(((((( ( ( (() At Year End))))) ) ) ))*Working capital 2, 4~ *N**~ *g**~ * ?* * ~ * \**~ *Y*+Total assets 2~ +b++~ +y++~ + V+ + ~ +  E++~ +0+1,)Long-term debt, including current portion~ ,V,,~ ,l,,~ , 0, , ~ , 1,,~ ,4, -2, 5.Total debt 2, 5~ .v..~ .vu..~ . &?. . ~ . 3..~ .:.,/$Total debt to total capitalization 5~ / /%/~ / /%/~ /  / %/ ~ /  /%/~ / /%0Total equity 5, 6~ 000~ 000~ 0 0 0 ~ 0 00~ 001Number of employees 7~ 1r~ 11~ 1N 11~ 1 B 1 1 ~ 1  11~ 1 123$4____________________________15)Created by Morningstar Document Research.06(http://documentresearch.morningstar.com/2;R.Zx- %Ha=PF0*8X> @v665544111111 11 11000000 00 00////// // //...... .. ..,,,,,, ,, ,,++++++ ++ ++****** ** **&&&&&& && &&%%%%%% %% %%$$$$$$ $$ $$###### ## ##!!!!!! !! !!                             l  ;  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } I"} $} $} $ } $} $} $ } $} $                      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018BUSINESS OVERVIEW          ~  ~  ~ ~! 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Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } !}  $ } $} $} $ } $} $} $ } $} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018BUSINESS OVERVIEW                      (dollars in millions)~  ~  ~ ~ ~  ~  ~ ~ Europe~   ~ >  ~   ~ R % ~ N % ~ N %  Asia Pacific~    ~   ~   ~ : % ~ : % ~ > % Other Non-U.S.~ :R  ~ U  ~ BW  ~ & % ~ & % ~ * % U.S. Exports~ ҭ~ .~  6  ~  J %~ N %~ F %#International segment sales~ B~ .~    ~   %~  %~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.l |pdX\=PF0*8X> @             l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS 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Document Research.0(http://documentresearch.morningstar.com/(Txl`m]QE=PF0*8X> @b          l  {)  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 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OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 0} $ } $} $ } $}  $ } $                    %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018*"Cost of Products and Services Sold             (dollars in millions)~  ~  ~ ~0 (Total cost of products and services sold~ Ʈ  ~ ҇  ~ w (  Percentage change year-over-year~  % ~  % ~  % $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Twk_SGT% =PF0*8X> @b          l  T  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } m)} } $} $ } } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018*"Cost of Products and Services Sold       ~  ~  Organic volume~  % ~  %$ Foreign currency translation -  ~  %* "Acquisitions and divestitures, net -  ~  %Total % Change~  %~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|wk_SGo=1%=PF0*8X> @*   l  |j  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1)Research and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } U} $ } $} $ } $}  $ } $                    %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018 Gross Margin             (dollars in millions)~  ~  ~ ~  Gross margin~ 2  ~   ~   Percentage of net sales :@ %  ;@ %  fffff;@ % $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tui]jTH<=PF0*8X> @b          l  v  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross Margin!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } U} $ } $} $ } $}  $ } $                      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018 Research and Development             (dollars in millions)~  ~  ~ ~ Company-funded~ N%  ~ $  ~ #  Percentage of net sales~  %  ffffff@ %  ffffff@ % Customer-funded~   ~   ~  Percentage of net sales@ %333333@ % ffffff@  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|ui]Q^J1%=PF0*8X> @            l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and DevelopmentInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } *} $ } $} $ } $}  $ } $                    %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018+#Selling, General and Administrative             (dollars in millions)~  ~  ~ ~+ #Selling, general and administrative~ `  ~ ^  ~ [  Percentage of net sales $@ %  333333%@ %  %@ % $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Tvj^RFS&=PF0*8X> @b          l  @  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and Administrat!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } $4} $ } $} $ } $}  $ } $                              %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018Interest Expense, Net             (dollars in millions)~  ~  ~ ~ Interest expense~   ~ &  ~   Interest income~ R  ~   ~   Interest expense, net~ 6  ~ >  ~   /'Average interest expense rate - average /'outstanding borrowings during the year:Short-term borrowings? %? % 333333?  % Total debt @ %ffffff@ % ffffff@  % 3+Average interest expense rate - outstanding %borrowings as of December 31:Short-term borrowingsffffff@ %333333? % ?  % Total debt @ % @ % @  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/< xl`Ta^h5Y0=PF0*8X> @               l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING 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operations2*Diluted earnings per share from continuing@Q@ Q@  operations$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|QE9-! jDzR=PF0*8X> @b         l  d  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } U5}  $                      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018YQNet (Loss) Income Attributable to Common Shareowners from Discontinued Operations            . &(dollars in millions, except per share~  ~  ~ ~ amounts)0 (Net (loss) income attributable to common $-  ~   ~ r8 0 (shareowners from discontinued operations4,Diluted earnings per share from discontinued $-{Gz \(\@  operations$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|H<0$f2vjB=PF0*8X> @b         l  &  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable toSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT 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FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } :}  $                       %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20188RESTRUCTURING COSTS              (dollars in millions) ~  ~  ~ ~6 .Restructuring costs included within continuing ~   ~   ~ 2   operations8 0Restructuring costs included within discontinued  -   -  ~ .  operationsRestructuring costs~ ~  ~  ^ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.ymaUJ5)=PF0*8X> @z          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } '} $ }  } $} $ }  } $} $ }  } $ !!!!!!!!!! ! ! ! ! !!!!!!!!!!!!%UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018SEGMENT REVIEW                                    Net Sales  Operating Profits  Operating Profit Margin (dollars in millions)~  ~  ~ ~ ~  ~  ~ ~ ~  ~  ~ ~ Otis~   ~ ֹ  ~ 2  ~   ~ !  ~ $   ffffff0@ %  2@ %  3@ %(  UTC Climate, Controls & Security~ R  ~ N  ~   ~ 3  ~ 2.  ~ -   2@ %  1@ %  1@ %Pratt & Whitney~ ~ ~     ~  ~ &~ v ~ & %$@ %ffffff@  %UTC Aerospace Systems~ ~ ~  :  ~   %~ #~ 0@ %/@ %*@  % Total segment~ 2~ ދ~  ~x  ~  ~ ʋ~ ^}~ > %.@ %333333,@  %Eliminations and other~ ~ ~    ~  j~ B~ "General corporate expenses - -  -  ~  ~ ~  Consolidated~ ~ r~~  l  ~  ~ ~ q-@ %,@ %~ 6  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6~sg[VWi=PF0*8X> @?                                     l  r/  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } '} $} $} $ } $} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018Commercial Businesses       ~  ~  Otis~ & % ~ . %(  UTC Climate, Controls & Security~  % ~  % $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(Txl`T  =PF0*8X> @*   l  K  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } I"} $ } } $} $ } $} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018Commercial Businesses                                 0 (Total Increase (Decrease) Year-Over-Year              for: (dollars in millions)~  ~  ~ ~  2017 Compared with 2016  2016 Compared with 2015  Net Sales~   ~ ֹ  ~ 2  ~   ~  % ~   ~  % Cost of Sales~ v~ "~~  ~  ~  V~  %~ :~  %~ b:~ ;~  J<   $Operating Expenses and Other~ ~ *~     Operating Profits~ ~ !~  $  ~   ~  %~ ~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2Y xl`T''9=PF0*8X> @                 l  h  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } m)}  } $} $ } m} $} $ } 0} $} $ } } $} $ } m} $} $ } 0} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018Commercial Businesses                   0 (Factors Contributing to Total % Increase % (Decrease) Year-Over-Year in: ~  ~    Net Sales    Cost of Sales   Operating Profits    Net Sales    Cost of Sales   Operating Profits Organic / Operational~   %~  %~  % ~    % ~    %~  %$Foreign currency translation - -~  % ~    % ~   %~  %*"Acquisitions and divestitures, net~  %~  % -   -    - - Other~  %~  % -   -    -~  %Total % change~  %~  %~  % ~    % ~   %~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 xl`T|<=PF0*8X> @:     l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT 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CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } I"} $ } } $} $ } } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20182016 Compared with 2015                                 0 (Total Increase (Decrease) Year-Over-Year              for: (dollars in millions)~  ~  ~ ~  2017 Compared with 2016  2016 Compared with 2015  Net Sales~ R  ~ N  ~   ~   ~  % ~ B  ~  % Cost of Sales~ ~ Ҷ~  n  ~  ~ " %~ f~  %~ jQ~ ~P~  O   $Operating Expenses and Other~ ~ N"~  !   Operating Profits~ 3~ 2.~  -  ~  b~ 2 %~ R~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2[ vj^R%%7=PF0*8X> @                 l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } m)}  } $} $ } m} $} $ }  } $} $ } } $} $ } m} $} $ }  } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20182016 Compared with 2015                   0 (Factors Contributing to Total % Increase % (Decrease) Year-Over-Year in: ~  ~    Net Sales    Cost of Sales    Operating    Net Sales    Cost of Sales    Operating Profits     ProfitsOrganic / Operational~  %~  % - ~    % ~   %~  %$Foreign currency translation~  % - - ~    % ~   %~  %*"Acquisitions and divestitures, net~  %~   % - ~    % ~   %~  %Restructuring costs - -~  %   -    -~  % Other -~  %~ : %   -    -~  %Total % change~  %~ " %~ 2 % ~    % ~   %~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 vj^Rz:=PF0*8X> @:     l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } I"} $ } } $} $ } } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018Aerospace Businesses                                 0 (Total Increase (Decrease) Year-Over-Year              for: (dollars in millions)~  ~  ~ ~  2017 Compared with 2016  2016 Compared with 2015  Net Sales~   ~   ~    ~   ~ & % ~    ~  % Cost of Sales~ ~ v~  z  ~  n~ * %~  ~ " %~ 1~ F0~  1   $Operating Expenses and Other~ ~ "~  $   Operating Profits~ ~ &~  v   ~  ~  %~  ~ > %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2X ymaU((:=PF0*8X> @                 l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace Businesses2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 7}  } $} $ } m} $} $ }  } $} $ } } $} $ } m} $} $ }  } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018Aerospace Businesses                   0 (Factors Contributing to Total % Increase % (Decrease) Year-Over-Year in: ~  ~    Net Sales    Cost of Sales    Operating    Net Sales    Cost of Sales    Operating Profits     ProfitsOrganic* / Operational*~ & %~ 2 %~  % ~    % ~  & %~  %6.Foreign currency (including P&WC net hedging)*~  % -~ & %   -  ~   %~ * %*"Acquisitions and divestitures, net - -~  %   -    - -Restructuring costs -~  %~  %   -    -~  % Other~  %~  %~  %   -    -~  %Total % change~ & %~ * %~  % ~    % ~  " %~ > %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 ymaU}==PF0*8X> @:     l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } I"} $ } } $} $ } } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20182016 Compared with 2015                                 0 (Total Increase (Decrease) Year-Over-Year              for: (dollars in millions)~  ~  ~ ~  2017 Compared with 2016  2016 Compared with 2015  Net Sales~   ~   ~ :  ~   ~   % ~   ~  % Cost of Sales~ ~ ~    ~  ~  %~ *~  %~ =~ J<~  7   $Operating Expenses and Other~ ~ b~  &   Operating Profits~  %~ #~    ~  "~  %~ j~ Z %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2[ vj^R%%7=PF0*8X> @                 l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 2015Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } m)}  } $} $ } m} $} $ }  } $} $ } } $} $ } m} $} $ }  } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20182016 Compared with 2015                   0 (Factors Contributing to Total % Increase % (Decrease) Year-Over-Year in: ~  ~    Net Sales    Cost of Sales    Operating    Net Sales    Cost of Sales    Operating Profits     ProfitsOrganic / Operational~   %~   %~  % ~     % ~   %~  %$Foreign currency translation - - -   -  ~   %~  %*"Acquisitions and divestitures, net -~  %~  %   -    - -Restructuring costs - -~  %   -    -~  % Other - - - ~    % ~   %~ N %Total % change~   %~  %~  % ~    % ~   %~ Z %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 vj^Rz: =PF0*8X> @:     l  n1  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018Eliminations and other                           Net Sales  Operating Profits (dollars in millions)~  ~  ~ ~ ~  ~  ~ ~ Eliminations and other~   ~   ~   ~ j  ~ B  ~  " General corporate expenses -   -   -  ~   ~   ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hwk_S38>C7+=PF0*8X> @                  l  GJ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and otherCRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } >} $ } $} $ } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018+#16LIQUIDITY AND FINANCIAL CONDITION         (dollars in millions)~  ~ ! Cash and cash equivalents~ f  ~ o   Total debt~ v  ~ vu < 4Net debt (total debt less cash and cash equivalents)~ !  ~   Total equity~ ~ -%Total capitalization (total debt plus~ j~ := total equity)1)Net capitalization (total debt plus total~  ~ f.&equity less cash and cash equivalents)*"Total debt to total capitalization~  %~  %&Net debt to net capitalization~  %~  %$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8vj^RF8b i=PF0*8X> @         l  b  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDI!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 6} $                          %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018%CRITICAL ACCOUNTING ESTIMATES          (dollars in millions)   Increase in    Decrease in     Discount Rate    Discount Rate    of 25 bps    of 25 bps  Pension plans    $Projected benefit obligation~ ~ N+#Net periodic pension (benefit) cost~ R~ *"Other postretirement benefit plans5-Accumulated postretirement benefit obligation~ ~ 60(Net periodic postretirement benefit cost - -$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4}|pdXLa\m =PF0*8X> @       l  &~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATESCOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } $} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018B:OFF-BALANCE SHEET ARRANGEMENTS AND CONTRACTUAL OBLIGATIONS                          Payments Due by Period (dollars in millions)  Total ~    2019-2020   2021-2022   Thereafter Long-term debt-principal ~   ~    ~ :J  ~ M  ~  & Long-term debt-future interest ~   ~   ~   ~ >  ~ * Operating leases~ 2#~  ~     ~ ~  Purchase obligations~ ~ ~ ~  V/  ~ *~ ~#Other long-term liabilities~ 8~ j ~  ~  ~ ~ *%Total contractual obligations~ ~ f ~  V  ~ ns~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 _SG;/3%C[=PF0*8X> @:'                  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS A!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } $4} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018COMMERCIAL COMMITMENTS                       2 *Amount of Commitment Expiration per Period (dollars in millions)   Committed ~    2019-2020   2021-2022   Thereafter2 *Commercial aerospace financing commitments ~ >  ~   ~   ~ *  ~ 6  . &Other commercial aerospace commitments ~   ~ :  ~   ~   ~ t 3+Commercial aerospace financing arrangements~ B~   ~  B  ~ *~ .&Credit facilities and debt obligations~ ~ 6 ~     -~ 2(expire 2018 to 2028)Performance guarantees~ ~  ~     -~ *$Total commercial commitments~ ~ ^ ~  -  ~ /~ ރ$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 wk_SW IUep`[=PF0*8X> @:'                  l  =P  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 7}  $ =                                 %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018.&33Consolidated Statement of Operations             . &(dollars in millions, except per share ~  ~  ~ ~$ amounts; shares in millions)  Net Sales:        Product sales ~ F  ~ ~|  ~ m  Service sales~  ~  ~   ~ ~ r~ ~  l Costs and Expenses:  Cost of products sold~ ~  ~  . Cost of services sold~ ~  ~    Research and development~ N%~ $ ~  # +#Selling, general and administrative~ `~ ^ ~  [ ~ 4~   ~  R #Other income (expense), net~ :~ F  ~   Operating profit~ ~  ~  q Interest expense, net~ 6~ > ~    0(Income from continuing operations before~ Ny~ vo ~  e  income taxesIncome tax expense~ n,~  ~    -%Net income from continuing operations~ L~ T ~  D 6.Less: Noncontrolling interest in subsidiaries'~ ~  ~   +#earnings from continuing operations6.Income from continuing operations attributable~ "G~ &O ~  r> Dlsg[OC' I2kS t ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; <  to common shareowners)!!Discontinued operations (Note 3):!!!!! ! "Income from operations" "-""~ """ ~ " " #Gain on disposal# #-##~ #6## ~ # j^# $Income tax expense$$$$~ $$$ ~ $ $ 6%.Net (loss) income from discontinued operations% %-%%~ %%% ~ % j8% 6&.Less: Noncontrolling interest in subsidiaries'& &-&& &-&& ~ & & )'!loss from discontinued operations2(*(Loss) Income from discontinued operations( (-((~ ((( ~ ( r8( *)"attributable to common shareowners5*-Net income attributable to common shareowners*~ *"G**~ *N** ~ * v* ++++++ + 1,)Earnings Per Share of Common Stock-Basic:,,,,, , --%Net income from continuing operations-- ףp= @---(\@-- - RQ@- *."attributable to common shareowners5/-Net income attributable to common shareowners// ףp= @///Q@// / q= ףp!@/ 30+Earnings Per Share of Common Stock-Diluted:00000 0 -1%Net income from continuing operations11@111Q@11 1 Q@1 *2"attributable to common shareowners53-Net income attributable to common shareowners33@333{Gz@33 3 Q8!@3 +4#Dividends Per Share of Common Stock44(\@444(\@44 4 {Gz@4 65.Weighted average number of shares outstanding:55555 5 6 Basic shares6~ 6Z 666@66 6 E@6 7Diluted shares77@777Љ@77 7 @7 89$:____________________________1;)Created by Morningstar Document Research.0<(http://documentresearch.morningstar.com/>0jJg:ef: U'B=PF0*8X> @_<< ;; :: 777777 666666 444444 333333 111111 ////// ------ ****** (((((( &&&&&& %%%%%% $$$$ ###### """"""                    l  >  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 8}  $ >                                 %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20188034Consolidated Statement of Comprehensive Income              (dollars in millions) ~  ~  ~ ~- %Net income from continuing operations ~ L  ~ T  ~ D 6 .Net (loss) income from discontinued operations  -  ~   ~ j8   Net income ~ L  ~ T  ~ z| .&Other comprehensive income (loss), net  of tax0(Foreign currency translation adjustments  0(Foreign currency translation adjustments~  ~  ~   arising during period.&Reclassification adjustments from sale~  - ~   7/of an investment in a foreign entity recognized in net income~  ~  ~  2 0(Pension and postretirement benefit plans  0(Net actuarial gain (loss) arising during~ ~  ~   period2*Prior service credit (cost) arising during~  ~  ~  n period Other~ 2~ z ~   0(Amortization of actuarial loss and prior~ F~ ^ ~     service cost~ B ~ ^ ~    D li]QE9.XP8& ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < =   Tax expense ~   ~   ~ Z !!~ !&!!~ !j!! ~ ! ! 4",Unrealized (loss) gain on available-for-sale""""" " # securities.$&Unrealized holding gain arising during$~ $$$~ $$$ ~ $ r$ %period-&%Reclassification adjustments for gain&~ &*&&~ &&& ~ & *& %'included in Other income, net((~ (>((~ ((( ~ ( ( )Tax benefit (expense))~ )V))~ )r)) ~ ) .) **~ ***~ *** ~ * * .+&Change in unrealized cash flow hedging+++++ + 0,(Unrealized cash flow hedging gain (loss),~ ,n,,~ ,.,, ~ , , -arising during period-.%(Gain) loss reclassified into Product.~ .f..~ ... ~ . .  /sales00~ 000~ 000 ~ 0 .0 1Tax (expense) benefit1~ 111~ 111 ~ 1 1 22~ 222~ 222 ~ 2 2 .3&Other comprehensive income (loss), net3~ 3 33~ 333 ~ 3 3 4of tax5Comprehensive income5~ 5Z55~ 5H55 ~ 5 ^l5 /6'Less: comprehensive income attributable6~ 666~ 666 ~ 6 6 "7to noncontrolling interest,8$Comprehensive income attributable to8~ 8S88~ 8C88 ~ 8 g8 9common shareowners:$;____________________________1<)Created by Morningstar Document Research.0=(http://documentresearch.morningstar.com/@ Dwyc cR2n]L*=PF0*8X> @W== << ;; 888888 666666 555555 333333 222222 111111 000000 ...... ,,,,,, ****** )))))) (((((( &&&&&& $$$$$$ !!!!!!                   l  @$  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 6} $ @                                 %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018$35Consolidated Balance Sheet         . &(dollars in millions, except per share ~  ~ % amounts; shares in thousands) Assets    ! Cash and cash equivalents ~ f  ~ o -%Accounts receivable (net of allowance~ ~ f/'for doubtful accounts of $456 and $450).&Inventories and contracts in progress,~ f~  netOther assets, current~ ~ Total Current Assets~ j~ !Customer financing assets~ %~ "Future income tax benefits~ ~ FFixed assets, net~ *~ Goodwill~ ~ ΦIntangible assets, net~ .~  Other assets~ ]~ ^ Total Assets~ b~ yLiabilities and EquityShort-term borrowings~ "~ f Accounts payable~ ~ tAccrued liabilities~ r~ D l}qeYM{R"qb=o k ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ? $ Long-term debt currently due ~    ~  !!Total Current Liabilities!~ !}!!~ !JV!"Long-term debt"~ "v""~ "S"1#)Future pension and postretirement benefit#~ #r/##~ #W#$ obligations#%Other long-term liabilities%~ %b%%~ %J%&Total Liabilities&~ &b&&~ &F&.'&Commitments and contingent liabilities''''((Notes 5 and 18)*)"Redeemable noncontrolling interest)~ )))~ ))*Shareowners? Equity:****+Capital Stock:++++.,&Preferred Stock, $1 par value; 250,000, ,-,, ,-,5--shares authorized; None issued or outstanding4.,Common Stock, $1 par value; 4,000,000 shares.~ ...~ ..2/*authorized; 1,444,187 and 1,440,982 shares0issued+1#Treasury Stock- 645,057 and 632,2811~ 111~ 1j1%2common shares at average cost3Retained earnings3~ 3*_33~ 3&:34Unearned ESOP shares4~ 444~ 44-5%Total Accumulated other comprehensive5~ 5n55~ 5}5 6loss!7Total Shareowners? Equity7~ 777~ 778Noncontrolling interest8~ 8N88~ 889 Total Equity9~ 999~ 99$:Total Liabilities and Equity:~ :b::~ :y:;<$=____________________________1>)Created by Morningstar Document Research.0?(http://documentresearch.morningstar.com/D l4AI3v@.!8(HpdX0=PF0*8X> @*E??>>==::::9999888877775555444433331111....,,,,))))&&&&%%%%####""""!!!!       l  WFhXb  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } I;}  $ W                                 %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018.&36Consolidated Statement of Cash Flows              (dollars in millions) ~  ~  ~ ~6 .Operating Activities of Continuing Operations:      - %Net income from continuing operations ~ L  ~ T  ~ D 7 /Adjustments to reconcile income from continuing      0(operations to net cash flows provided by6.operating activities of continuing operations:%Depreciation and amortization~ r!~  ~   %Deferred income tax provision~ ~ : ~  Z  Stock compensation cost~ ~ b ~  z  Change in:  Accounts receivable~ ~ N ~  * -%Inventories and contracts in progress~ :~  ~    Other current assets~ n~  ~  & 0(Accounts payable and accrued liabilities~ ~   ~   $Global pension contributions~ ~ F ~   &Canadian government settlement~ ~ N ~    'Other operating activities, net~  ~  ~  V 7/Net cash flows provided by operating activities~ W~ 2d ~  i  of continuing operations6.Investing Activities of Continuing Operations:  Capital expenditures~ ~ v ~  2 -%Increase in customer financing assets~ N~ * ~  R DNlsg[OC8\"Wh3W g ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ? - %Decrease in customer financing assets ~ z  ~ f  ~  !!Investments in businesses!~ !f!!~ !!! ~ ! ! ""Dispositions of businesses"~ """~ "N"" ~ " "" 4#,Proceeds from sale of investments in Watsco,#~ #R ## #-##  # -#  $Inc.,%$Increase in collaboration intangible%~ %%%~ %%% ~ % .% &assets,'$(Payments) receipts from settlements'~ '''~ ''' ~ ' ' (of derivative contracts')Other investing activities, net)~ )))~ ))) ~ ) ) 3*+Net cash flows used in investing activities*~ ***~ *** ~ * Z*  +of continuing operations6,.Financing Activities of Continuing Operations:,,,,, , "-Issuance of long-term debt-~ -jM--~ -e-- ~ - B- #.Repayment of long-term debt.~ ...~ ... ~ . r. 5/-(Decrease) increase in short-term borrowings,/~ ///~ /// ~ / n /  0net41,Proceeds from Common Stock issuance - equity1 1-11 1-11 ~ 1 21 2unit settlement/3'Proceeds from Common Stock issued under3~ 3~33~ 3633 ~ 3 3 4employee stock plans&5Dividends paid on Common Stock5~ 555~ 555 ~ 5 5 "6Repurchase of Common Stock6~ 6N66~ 666 ~ 6 c6 '7Other financing activities, net7~ 777~ 7277 ~ 7 7 38+Net cash flows used in financing activities8~ 8~88~ 8r88 ~ 8 W8  9of continuing operations :Discontinued Operations:::::: : -;%Net cash used in operating activities; ;-;;~ ;r;; ~ ; 2; 1<)Net cash provided by investing activities< <-<<~ <<< ~ < < -=%Net cash used in financing activities= =-== =-== ~ = = 9>1Net cash flows (used in) provided by discontinued> >->>~ >>> ~ > > ? operationsDl].v `y5&~cj$L@ A B C D E F G H I J K L M N O P Q R S T U V /@'Effect of foreign exchange rate changes@~ @J@@~ @"@@ ~ @ J@ $Aon cash and cash equivalents.B&Net increase in cash, cash equivalentsB~ BBB~ BBB ~ B zB Cand restricted cash-D%Cash, cash equivalents and restrictedD~ DVpDD~ DBoDD ~ D UD Ecash, beginning of year-F%Cash, cash equivalents and restrictedF~ FFF~ FVpFF ~ F BoF Gcash, end of year0H(Less: Restricted cash, included in OtherH~ HHH~ HHH ~ H H Iassets/J'Cash and cash equivalents of continuingJ~ JfJJ~ JoJJ ~ J nJ Koperations, end of year9L1Supplemental Disclosure of Cash Flow Information:LLLLL L 1M)Interest paid, net of amounts capitalizedM~ M:MM~ MMM ~ M M )N!Income taxes paid, net of refundsN~ NNN~ N@NN ~ N 2 N 2O*Noncash investing and financing activitiesOOOOO O Pinclude:5Q-Contributions of UTC Common Stock to domesticQ Q$-QQ Q$-QQ ~ Q Q %Rdefined benefit pension plansS$T____________________________1U)Created by Morningstar Document Research.0V(http://documentresearch.morningstar.com/20 [3pD2j>! b9-=PF0*8X> @RVV UU TT QQQQQQ NNNNNN MMMMMM JJJJJJ HHHHHH FFFFFF DDDDDD BBBBBB @@@@@@ >>>>>> ====== <<<<<< ;;;;;; 888888 777777 666666 555555 333333 111111 ////// ...... ------ ****** )))))) '''''' %%%%%% ###### """""" !!!!!!                    l  _6E  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } =} $ _     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20185-37Consolidated Statement of Changes in Equity      (dollars in millions)      Common Stock$ Balance at December 31, 2014 ~     $Comprehensive income (loss): Net income-%Redeemable noncontrolling interest insubsidiaries? 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earnings.H&Other comprehensive income, net of taxHH0I(Common Stock issued under employee plansI~ I.IJ(3.2 million shares).K&Common Stock repurchased (12.9 millionK~ KKLshares)!MDividends on Common StockMM&NDividends on ESOP Common StockNN0O(Dividends attributable to noncontrollingOOPinterest9Q1Purchase of subsidiary shares from noncontrollingQ~ QQRinterest3S+Sale of subsidiary shares in noncontrollingSSTinterest.U&Acquisition of noncontrolling interestUU/V'Redeemable noncontrolling interest fairV~ VFVWvalue adjustment XOtherXX$YBalance at December 31, 2017Y~ YYZ[$\____________________________1])Created by Morningstar Document Research.0^(http://documentresearch.morningstar.com/BXiEl"P=r^:NB6=PF0*8X> @^^]]\\YYVVQQKKIIBB7711//((""    l  G  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } $ G     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20185-37Consolidated Statement of Changes in Equity                            Shareowners' Equity       Treasury Stock  Retained Earnings  Unearned ESOP Shares  Accumulated Other  Noncontrolling   Total Equity   Redeemable              Comprehensive  Interest      Noncontrolling              (Loss) Income          Interest~ z~ ~ 6  ~  ~ ~ ~ 2    ~ v  ~ ~ z|  ~ ~ ~  ~   ~ ~ ~    ~ 2~ ~ ~ *   ~ *~ *   ~ ~ Zq  ~ c~   ~ ~   ~   ~ ~ ~   ~ ~ ~   ~ >~   ~ ~   ~ ~ ~   ~ ~  DEll`TH?~   ~    ~ ^  ~   ~ :  ~   ~  !!!!!! ! !!!!!!"""""" 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AAAAAA@@@@@@??????>>>>====<<<<<<;;;;;;::::999988887777 7766 666666555555444444111111 11 11111100000000//////......------,,,,++++++******))))((((''''&&&& &&%% %%%%%%$$$$$$######                        l  U  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } $4} m      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20180(NOTE 1: SUMMARY OF ACCOUNTING PRINCIPLES   Collaboration assets 30 years3 +Customer relationships and related programs  1 to 50 years# Purchased service contracts  5 to 25 years Patents & trademarks  4 to 40 yearsExclusivity assets 5 to 25 years$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,D|qeYMA)e,=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases 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Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 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AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN 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Cost of services sold~   ~    ~ 2  :2Collaborator share of program costs (reimbursement of expenses incurred):Cost of products sold~ ~ R~  b  Research and development~  ~ "~  " +#Selling, general and administrative~ ~ ~  . $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4qeYMANcb@/Z=PF0*8X> @            l  <  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income 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FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } '} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018SKNOTE 2: BUSINESS ACQUISITIONS, DISPOSITIONS, GOODWILL AND INTANGIBLE ASSETS                 (dollars in millions)  Balance as of   Goodwill   Foreign    Balance as of    January 1,   resulting from   currency    December 31, ~    business    translation  ~        combinations    and other Otis~ ~ r~    ~  &( UTC Climate, Controls & Security~ >~  ~  "  ~  fPratt & Whitney~  -  -  ~  UTC Aerospace Systems~ N -~    ~  Total Segments~ ¦~ z~     ~  Eliminations and other~  -  -  ~   Total~ Φ~ z~     ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 NB6*^E(py0$=PF0*8X> @j-                         l  Y  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial 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2$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/: NB6*^*eSDA5)=PF0*8X> @J)                       l  "2y z  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 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continuing operations ףp= @(\@ RQ@ 6.Net (loss) income from discontinued operations -{Gz (\@ 5-Net income attributable to common shareowners ףp= @Q@ q= ףp!@ 3+Earnings Per Share of Common Stock-Diluted: -%Net income from continuing operations@Q@ Q@ 6.Net (loss) income from discontinued operations -{Gz \(\@ 5-Net income attributable to common shareowners@{Gz@ Q8!@ $____________________________D lsg[OK#w7 gr\  ! 1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X> @R*!!                 l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of 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AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE INOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN 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Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 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SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE 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borrowings:    Commercial paper~   ~ *  Other borrowings~ r  ~ > #Total short-term borrowings~ "~ f $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|qeYMAR3'=PF0*8X> @Z        l  s  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses 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11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE 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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 6} $ B     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20180(52NOTE 9: BORROWINGS AND LINES OF CREDIT         (dollars in millions)~  ~  1.800% notes due 2017 1 -  ~ r  6.800% notes due 2018~   ~  . &EURIBOR plus 0.80% floating rate notes~    ~ >  /'due 2018 (?750 million principal value)~  1)1.778% junior subordinated notes due 2018~ 2~ 21)LIBOR plus 0.350% floating rate notes due~ z~ z2019 31.500% notes due 2019 1~ * ~ * .&EURIBOR plus 0.15% floating rate notes~   -/'due 2019 (?750 million principal value)~  8.875% notes due 2019~ >~ >4.875% notes due 2020 1~ ~ 4.500% notes due 2020 1~ ~ 1.900% notes due 2020 1~  -8.750% notes due 2021~ ~ 1.950% notes due 2021 1~  ~  5-1.125% notes due 2021 (?950 million principal~ ~ value) 12.300% notes due 2022 1~  -D lqeYMA6c0"8&RM'K !"#$%&'()*+,-./0123456789:;<=>? 3.100% notes due 2022 1~ #  ~ # 5!-1.250% notes due 2023 (?750 million principal~ ! !!~ !> !"value) 1#2.800% notes due 2024 1~ # ## #-#5$-1.875% notes due 2026 (?500 million principal~ $F $$~ $*$%value) 1&2.650% notes due 2026 1~ &&&~ &&'3.125% notes due 2027 1~ '2'' '-'(7.100% notes due 2027~ (6((~ (6()6.700% notes due 2028~ )B))~ )B)*7.500% notes due 2029 1~ ***~ **+5.400% notes due 2035 1~ +b ++~ +b +,6.050% notes due 2036 1~ ,b ,,~ ,b ,-6.800% notes due 2036 1~ ---~ --.7.000% notes due 2038~ .~..~ .~./6.125% notes due 2038 1~ ///~ //05.700% notes due 2040 1~ 000~ 0014.500% notes due 2042 1~ 1611~ 16124.150% notes due 2045 1~ 2J 22~ 2J 233.750% notes due 2046 1~ 3233~ 32344.050% notes due 2047 1~ 4b 44 4-4%5Project financing obligations~ 5z55~ 5n5,6$Other (including capitalized leases)~ 666~ 66&7Total principal long-term debt~ 777~ 7l7-8%Other (fair market value adjustments,~ 888~ 88*9"discounts and debt issuance costs):Total long-term debt~ :V::~ :l:;Less: current portion~ ; ;;~ 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to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20180(52NOTE 9: BORROWINGS AND LINES OF CREDIT     (dollars in millions) ~ ~   ~ ~ ~# ~ ~ & ~ ~ !~ ~ + Thereafter~  Total~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2qeYMAlD=PF0*8X> @R     l  ;s  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO 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Research.0(http://documentresearch.morningstar.com/@D~rfZ^Np $ =PF0*8X> @C                         l  ߊ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT 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SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } }  $                     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018NOTE 11: INCOME TAXES             (dollars in millions)~  ~  ~ ~  United States~ .  ~ '  ~ z+  Foreign~ J  ~ G  ~ 9  ~ Ny  ~ vo  ~ e $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*.hxl`Tai=PF0*8X> @z           l  c  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 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BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 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Document Research.0(http://documentresearch.morningstar.com/2 xl`TH2-Mn~rJ=PF0*8X> @R        l  4  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 0} $ 4     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS                     (dollars in millions) Quoted Prices in    Significant    Significant   Not Subject to Leveling   Total   Active Markets    Observable    Unobservable  For Identical Assets   Inputs   Inputs   (Level 1)    (Level 2)    (Level 3)Asset Category:   Public Equities   Global Equities~ 0~   $-    $-~ 0( Global Equity Commingled Funds 1 -~   -    -~ "Enhanced Global Equities 2~ V~    -    -~ "0(Global Equity Funds at net asset value 8 - -  -  ~  v~ vPrivate Equities 3,8 - -~    ~  J~ Fixed Income Securities    Governments~ ~   -    -~ Corporate Bonds -~ ƪ  -    -~ ƪ!Fixed Income Securities 8 - -  -  ~  6~ 6Real 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                     l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE 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SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 0}  $                               %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS             (dollars in millions) Private   Real   Total   Equities   Estate" Balance, December 31, 2015~   ~ 6  ~   Realized gains~   ~ N  ~  0(Unrealized gains relating to instruments~ ~ J~  ^ *"still held in the reporting period.&Purchases, sales, and settlements, net~ F~ N~   "Balance, December 31, 2016~ ~ ~   Realized gains~ ~ ~~  r -%Unrealized (losses) gains relating to~ F~ F~   /'instruments still held in the reportingperiod.&Purchases, sales, and settlements, net~ ~ ~  ^ "Balance, December 31, 2017~ ~ ~  R $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/> 0xl`TH'Q7 qeeYM%=PF0*8X> @#                  l  0   dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) 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(((~ (()Prior service credit~ )))~ ))*Net amount recognized~ ***~ **+,$-____________________________1.)Created by Morningstar Document Research.0/(http://documentresearch.morningstar.com/$R,(g7XW=PF0*8X> @z///..--****))))(((($$$$####""""       l  1  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 1}  $                         %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS             (dollars in millions)~  ~  ~ ~& Other Postretirement Benefits:       Service cost~    ~   ~    Interest cost~ v  ~   ~  ,$Amortization of prior service credit~  -  - %Recognized actuarial net gain~ ~ ~   +#Net settlement and curtailment gain - -~   1)Net periodic other postretirement benefit~ V~ ~    cost$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2xl`THUq^<]=PF0*8X> @             l  G  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 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NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } =} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS     (dollars in millions) # Current year actuarial gain~  ) !Current year prior service credit~  , $Amortization of prior service credit~  *"Amortization of actuarial net gain~ & Other~  /'Total recognized in other comprehensive~  loss;3Net recognized in net periodic other postretirement~ f1)benefit cost and other comprehensive loss$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4xl`THcYI=PF0*8X> @R     l  m^  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } m} U} $} $ } U} $} $ } U} $} $ } U} $} $ } U} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS                 Benefit Obligation  Net Cost ~  ~  ~  ~  ~ ~  Discount rate 333333 @ %  ffffff@ %  ffffff@ % ~  %  ffffff@ % $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/()Txl`THJ=PF0*8X> @R        l  \t  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 1} U} $} $ } U} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS       ~  ~ / 'Health care cost trend rate assumed for~  %  @ %  next year/ 'Rate that the cost trend rate gradually~  % ~  % declines to1)Year that the rate reaches the rate it is~ ~ assumed to remain at$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.$xl`THS>==PF0*8X> @*   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } $4} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS         ! 2017 One-Percentage-Point (dollars in millions) Increase   Decrease 1 )Effect on total service and interest cost~    ~  3 +Effect on postretirement benefit obligation~   ~ v $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hxl`THJ^RF=PF0*8X> @R         l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } a/} $ }  } $ }  } $ }  } $ }  } $ }  } $ }       %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS                          (dollars in millions)    Pension  FIP/   Contributions         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(1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } m)}  $                     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS             (dollars in millions)~  ~  ~ ~ Continuing operations~   ~ b  ~ z  Discontinued operations -  ~   ~ F * "Total compensation cost recognized~   ~ f  ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*shxl`THUFr=PF0*8X> @z           l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } %} } $ } } $ } } $ } <} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS                           Stock Options ! Stock Appreciation Rights  Performance Share Units  Other                         Incentive' (shares and units in thousands) Shares   Average   Shares   Average   Units   Average    Shares/Units     Price*      Price*      Price**Outstanding at:  December 31, 2016~ GznV@~ 8   QU@ ~ 33333Z@~ Granted~ p= ׳[@~ "6    ףp=[@ ~  Q[@~ Exercised / earned~ >{GJS@~ :   ףp= 7R@ ~ RZ@~  Cancelled~ f~ ~    QW@ ~  ףp= \@~  Other~ n33333W@~ >   (\"W@ ~ QZ@~ nDecember 31, 2017~ FfffffW@~ J   (\"W@ ~ RQZ@~ "$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8xl`TH(z]=S6o=PF0*8X> @              l  h  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 1} $ } }  $ } } $ } } $ }       %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS                             1 )Equity Awards Vested and Expected to Vest * "Equity Awards That Are Exercisable1 )(shares in thousands; aggregate intrinsic  Awards   Average    Aggregate    Remaining  Awards   Average    Aggregate    Remaining value in millions)     Price*    Intrinsic   Term**     Price*    Intrinsic   Term**          Value            Value/'Stock Options/Stock Appreciation Rights~ fffffV@~      5.5 years~ W(\U@~  4.2 years0(Performance Share Units/Restricted Stock~ 6 -~      2.1 years$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.4 xl`TH}? =PF0*8X> @            l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } !} $ }  } $} $ }  } $} $ }  } $                       %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018)!59NOTE 12: EMPLOYEE BENEFIT PLANS            ~  ~  ~ ~ Expected volatility ~ N %  20%    20% - 23% # Weighted-average volatility ~ N % ~ R % ~ V % Expected term (in years)  @   @    6.0 - 6.8 Expected dividend yield333333@ %@ %@  %Risk-free rate 0.5% - 2.5% 0.2% - 2.6% 0.0% - 2.2% $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.xl`THv@PD8=PF0*8X> @2      l  )  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } '} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018$NOTE 13: RESTRUCTURING COSTS     (dollars in millions)  Otis~  (  UTC Climate, Controls & Security~   Pratt & Whitney~  UTC Aerospace Systems~ BEliminations and other~  Total~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0}qeYMKi=PF0*8X> @J     l  `>  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } <(} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018$NOTE 13: RESTRUCTURING COSTS     (dollars in millions)   Cost of sales~  ) !Selling, general & administrative~   Total~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*h}qeYMvK?3 =PF0*8X> @2    l  T  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } '}  $                      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018$NOTE 13: RESTRUCTURING COSTS             (dollars in millions)  Severance 0 (Facility Exit, Lease Termination & Other  Total      Costs' Net pre-tax restructuring costs~   ~ B  ~  (  Utilization and foreign exchange~   ~   ~  $Balance at December 31, 2017~ R~ ~  V $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/, |}qeYM*L, =PF0*8X> @           l  l  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } '}  $                        %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018$NOTE 13: RESTRUCTURING COSTS             (dollars in millions) Expected Costs ! Cost Incurred During 2017 , $Remaining Costs at December 31, 2017 Otis~ >  ~ V  ~  (  UTC Climate, Controls & Security~ ^  ~   ~ .  Pratt & Whitney~   ~    - UTC Aerospace Systems~ ~ V~  . Eliminations and other~ ~   -  Total~ ~ B~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0Y}qeYM =PF0*8X> @              l  ą  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 1}  $                          %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018$NOTE 13: RESTRUCTURING COSTS             (dollars in millions)  Severance  Facility Exit,  Total      Lease       Termination       and Other Costs1)Restructuring accruals at January 1, 2017~ ~ ~   'Net pre-tax restructuring costs~ ~ ^~   ( Utilization and foreign exchange~ ~ ~   $Balance at December 31, 2017~ ~ ~  R $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4}qeYMDSkHz=PF0*8X> @             l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } '} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018$NOTE 13: RESTRUCTURING COSTS                 (dollars in millions) Expected  Costs  Costs   Remaining  Costs  Incurred  Incurred  Costs at      During  During   December 31,     ~  ~  ~  Otis~ ~ B~    ~  ( UTC Climate, Controls & Security~ >~ N~    ~  6Pratt & Whitney~ ~ *  -    -UTC Aerospace Systems~ >~ ~    ~  F Total~ 6~ :~    ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4Z }qeYMry/#=PF0*8X> @*%                     l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 6} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018&NOTE 14: FINANCIAL INSTRUMENTS                  Asset Derivatives  Liability Derivatives (dollars in millions)~  ~  ~  ~ 5 -Derivatives designated as hedging instruments~   ~ >  ~ J  ~  - %Derivatives not designated as hedging~ .  ~ n  ~   ~ z  instruments$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*h{ocWK56=PF0*8X> @            l  L  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } :} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018&NOTE 14: FINANCIAL INSTRUMENTS          Year Ended December 31, (dollars in millions)~  ~ 8 0Gain recorded in Accumulated other comprehensive~ n  ~ .  loss1)(Gain) loss reclassified from Accumulated~ f~ -%other comprehensive loss into Product!sales (effective portion)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|{ocWKsrA=PF0*8X> @R       l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } +} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018&NOTE 14: FINANCIAL INSTRUMENTS          Year Ended December 31, (dollars in millions)~  ~ , $Gain recognized in Other income, net~ 6  ~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(T{ocWKs=PF0*8X> @B      l  d  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } m)} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018( NOTE 15: FAIR VALUE MEASUREMENTS                " 2017 (dollars in millions) Total   Level 1   Level 2   Level 3 * "Recurring fair value measurements:       % Available-for-sale securities~   ~    $-   $-  Derivative assets~    -  ~    - Derivative liabilities~  -~      -$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|ymaUIC;/#=PF0*8X> @            l  9  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } m)} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018( NOTE 15: FAIR VALUE MEASUREMENTS                " 2016 (dollars in millions) Total   Level 1   Level 2   Level 3 * "Recurring fair value measurements:       % Available-for-sale securities~ n  ~ n   $-   $-  Derivative assets~    -  ~    - Derivative liabilities~ z -~  z    -$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|ymaUIC;/#=PF0*8X> @            l  K+  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } -} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018( NOTE 15: FAIR VALUE MEASUREMENTS                  December 31, 2017  December 31, 2016 (dollars in millions) Carrying   Fair   Carrying   Fair   Amount   Value   Amount   Value Long-term receivables~   ~   ~   ~  +#Customer financing notes receivable~  ~ R ~    ~  Short-term borrowings~ ~ ~    ~  -%Long-term debt (excluding capitalized~ Y~ 8~  B  ~  wleases)Long-term liabilities~ Z~ ~    ~  V$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4; ymaUI7z3xNB6=PF0*8X> @ !                    l  D  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } -} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018( NOTE 15: FAIR VALUE MEASUREMENTS                 (dollars in millions) Total   Level 1   Level 2   Level 3  Long-term receivables~    $-  ~    $- + #Customer financing notes receivable~ R    -  ~ R    -  Short-term borrowings~    -  ~ R  ~  -%Long-term debt (excluding capitalized~ 8 -~  Z;  ~  leases)Long-term liabilities~  -~      -$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0#ymaUId>2&=PF0*8X> @                 l  [  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } $} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018+#NOTE 16: VARIABLE INTEREST ENTITIES         (dollars in millions)~  ~  Current assets~ ">  ~ *  Noncurrent assets~   ~    Total assets~ V  ~ b? Current liabilities~ F8~ %Noncurrent liabilities~  ~ Total liabilities~ X~ j?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0vj^RFC/pdX0=PF0*8X> @         l  ]u  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } $4} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/201874NOTE 17: GUARANTEES                  December 31, 2017  December 31, 2016 (dollars in millions) Maximum   Carrying   Maximum   Carrying    Potential    Amount of    Potential    Amount of  Payment    Liability   Payment    Liability3+Commercial aerospace financing arrangements~ B~ "~  r  ~  : (see Note 5).&Credit facilities and debt obligations~ ~ >~  :  ~  >(expire 2018 to 2028)Performance guarantees~ ~  ~    ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4xl`TB3pXy=PF0*8X> @                  l  A  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } -} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/201874NOTE 17: GUARANTEES         (dollars in millions)~  ~  Balance as of January 1~   ~  - %Warranties and performance guarantees~   ~   issuedSettlements made~ ~ B Other~ &~ !Balance as of December 31~ ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0xl`THis=PF0*8X> @z       l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } '} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018'NOTE 19: SEGMENT FINANCIAL DATA                             Net Sales  Operating Profits (dollars in millions) ~  ~  ~ ~ ~  ~  ~ ~ Otis ~   ~ ֹ  ~ 2  ~   ~ !  ~ $ (  UTC Climate, Controls & Security ~ R  ~ N  ~   ~ 3  ~ 2.  ~ - Pratt & Whitney~ ~  ~     ~ ~ &~ v UTC Aerospace Systems~ ~  ~  :  ~  %~ #~  Total segment~ 2~ ދ ~  ~x  ~ ~ ʋ~ ^}Eliminations and other~ ~  ~    ~ j~ B~ "General corporate expenses - -   -  ~ ~ ~  Consolidated~ ~ r~ ~  l  ~ ~ ~ q$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6 znbVJ =PF0*8X> @;                        l  y  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products 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INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 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" # $    Total Assets  Capital Expenditures # Depreciation & Amortization (dollars in millions) ~  ~  ~ ~ ~  ~  ~ ~ ~  ~  !~ "~ Otis ~ 6  ~   ~ :  ~   ~ z  ~ N  ~   ~   !~ " $(  UTC Climate, Controls & Security ~ b  ~ nT  ~ L  ~   ~ R  ~   ~   ~   !~ "F $Pratt & Whitney~ B~ f ~  =  ~ n~ V ~  ~  ~  !~ "r$UTC Aerospace Systems~ ~  ~    ~ >~ ~ f~  ~   !~ "r $ Total segment~ ~ Z ~  V3  ~ ~ .~ ~ ~ j !~ "$Eliminations and other~ 6~  ~  #  ~ ~ b~ >~ ~ B !~ ":$ Consolidated~ b~ y ~  V  ~ z~ ~ ~ r!~  !~ "$$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4znbVJ $==PF0*8X> @rN$$$ "# "# "# "# "#        "#        "#        "$   $ l  X  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } } $$ %%%%%%%%%% % % % % %%%%%%%%%%%%UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018'NOTE 19: SEGMENT FINANCIAL DATA                                  ! " # $   External Net Sales  Operating Profits  Long-Lived Assets (dollars in millions) ~  ~  ~ ~ ~  ~  ~ ~ ~  ~  !~ "~ United States Operations ~   ~ >  ~ 6  ~ F  ~ ZG  ~ D  ~ .S  ~ ZK  !~ "F $ International Operations                 ! "Europe~ ~ > ~    ~ * ~ 6~ j~ f~   !~ "$ Asia Pacific~  ~  ~    ~ B~ 2~ ~ f~  !~ "$ Other~ :R~ U ~  BW  ~ ~ ~ ~ ~  !~ "$Eliminations and other~ :~ N ~  n  ~ ~ ~ ~ ~ j !~ "$ Consolidated~ ~ r~ ~  l  ~ ~ ~ q~ *~  !~ "r$$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4'znbVJHbVJ"=PF0*8X> @*E$$$ "# "# "# "# "#        "#        "$   $ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING 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EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } }  $                      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018'NOTE 19: SEGMENT FINANCIAL DATA              (dollars in millions) ~  ~  ~ ~ Pratt & Whitney ~ N4  ~ 1  ~ .  UTC Aerospace Systems ~ #  ~ #  ~ %  Other ~ b  ~ *  ~ R ~ Z~ W ~  W $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|znbVJ?=PF0*8X> @            l  ?  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } 6}  $ !!!!!!!!!! ! ! ! ! !!!!!!!!!!!%UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20188079 SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)                                     2017 Quarters   2016 Quarters (dollars in millions,  First   Second   Third   Fourth   First   Second   Third   Fourth $  except per share amounts)  Net Sales ~   ~   ~ Z  ~   ~   ~ j  ~ J  ~   Gross margin~ j:~ RA ~  >  ~ =~ 9~ @~ >~ = 5-Net income attributable to common shareowners~ ~ ~ ~    ~ 6~ ~~ ~ "~  +#Earnings per share of Common Stock:   Basic - net income?HzG?   ףp= ?  ?zG?Q??)\(? Diluted - net incomeGz??  Q?  ?Q?ffffff?{Gz?? $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4i]QE9W}5o=PF0*8X> @5                        l  Z  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } } $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018*"COMPARATIVE STOCK DATA (UNAUDITED)                           ~  ~  (common stock)  High   Low   Dividend   High   Low   Dividend   First quarter  Qk\@   Q [@   Q?   Y@    ףp=*U@   {Gz?  Second quarter  ^@   Q[@   Q?   )\xZ@   = ףpMX@   Q?  Third quarter= ףp^@33333c[@  ffffff?  \(l[@fffffY@Q?Fourth quarterp= `@Q]@  ffffff?  Q[@{GX@Q?$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/. wk_SGui]5=PF0*8X> @#                    l  t  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE NO TITLE NO TITLE (1) NO TITLE (2) NO TITLE (3)U } %} $      %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/20187/COMPARISON OF CUMULATIVE FIVE YEAR TOTAL RETURN                            December  ~ r ~ v ~ z ~ ~ ~  ~ ' United Technologies Corporation ~    p= ׻a@   GzLb@   33333S_@   QUb@   p= e@   S&P 500 Index ~    Gz`@   Qb@   {Gc@   {GZe@   Gzj@ $Dow Jones Industrial Average~ 4`@  = ףpa@  (\a@Rd@\(j@$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,S|j^RF::=PF0*8X> @                  l  ? 0  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE (1) NO TITLE (2) NO TITLE (3)U } U5}  ?     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018NO TITLE  ' United Technologies Corporation  Exhibit 21(  Subsidiary and Affiliate Listing  December 31, 2017    Entity NamePlace of IncorporationAllyn Holdings, Inc.DelawareAMI Industries, Inc.Colorado( Arabian Air Conditioning Company Saudi Arabia.&Augusta (Gibraltar) Holdings I Limited Gibraltar.&Augusta (Gibraltar) Holdings II S.C.S.!Grand-Duchy of Luxembourg#Automated Logic CorporationGeorgiaBedford Holdings B.V. NetherlandsBeesail LimitedEnglandBelgium Parkview BVBABelgium$Berkeley Luxembourg S.? r.l.!Grand-Duchy of Luxembourg/'BET Security and Communications LimitedUnited Kingdom-%Blades Technology International, Inc.DelawareBlades Technology Ltd.Israel#Bridgecam (Ireland) LimitedIreland%Cambridge Luxembourg S.? r.l.!Grand-Duchy of Luxembourg Caricor Ltd.DelawareCarrier Asia Limited Hong KongDDlymaIV"c l8Y% !"#$%&'()*+,-./0123456789:;<=>. &Carrier Commercial Refrigeration, Inc. Delaware!Carrier Corporation!Delaware"Carrier Enterprise, LLC"Delaware&#Carrier HVACR Investments B.V.# Netherlands$$Carrier Mexico, S.A. de C.V.$Mexico %Carrier Technologies ULC%Alberta4&,CEAM Costruzioni Elettromeccaniche Ascensori &Italy'e Montacarichi Srl(Ceesail Limited(England%)Chubb Fire & Security Limited)England%*Chubb Fire & Security Pty Ltd* Australia+Chubb Fire Limited+England,Chubb Group Limited,England$-Chubb Group Security Limited-England,.$Chubb International (Netherlands) BV. Netherlands,/$Chubb International Holdings Limited/England0 Chubb Limited0England1Chubb Nederland B.V.1 Netherlands,2$Commonwealth Luxembourg Holdings S.?!2Grand-Duchy of Luxembourg 3r.l.#4Concord Luxembourg S.? r.l.!4Grand-Duchy of Luxembourg5Delancey Holdings B.V.5 Netherlands6 Delavan Inc.6Delaware(7 Detector Electronics Corporation7 Minnesota,8$Devonshire Switzerland Holdings GmbH8 Switzerland9Elevadores Otis Ltda.9Brazil:;$<____________________________1=)Created by Morningstar Document Research.0>(http://documentresearch.morningstar.com/BXPU7 ^,g;Sf3'=PF0*8X> @>>==<< l  Aɯ G ׹  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (2) NO TITLE (3)U } 2}  A     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018NO TITLE  ' United Technologies Corporation (  Subsidiary and Affiliate Listing  December 31, 2017    Entity NamePlace of IncorporationElmwood Holdings LLCDelaware,$Empresas Carrier, S. De R.L. De C.V.MexicoFernwood Holdings S.C.S Luxembourg%Fyrnetics (Hong Kong) Limited Hong Kong%Goodrich Aerospace Canada LtdOntario-%Goodrich Aftermarket Services LimitedUnited Kingdom Goodrich Control SystemsUnited KingdomGoodrich CorporationNew York!Goodrich Inertial LimitedUnited KingdomGoodrich LimitedUnited Kingdom$Goodrich Luxembourg S.A.R.L.!Grand-Duchy of Luxembourg Goodrich Systems LimitedUnited Kingdom-%Goodrich XCH Luxembourg B.V./S.a.r.l. Netherlands$(Dual Dutch/Lux Citizenship)0(Gulf Security Technology Company Limited China.&Hamilton Sundstrand Aviation Services,Delaware Inc.DlymaI`,s7z;z2  !"#$%&'()*+,-./0123456789:;<=>?' Hamilton Sundstrand Corporation Delaware*!"Hamilton Sundstrand Holdings, Inc.!Delaware2"*Hamilton Sundstrand International Holdings!"Grand-Duchy of Luxembourg#(Luxembourg) S.? r.l.$HEJ Holding, Inc.$Delaware)%!IAE International Aero Engines AG% Switzerland'&International Aero Engines, LLC&Delaware'JMS I Corporation'Delaware"(Kidde Fire Protection Inc.(Delaware#)Kidde International Limited)England*Kidde Products Limited*England +Kidde Technologies Inc.*+Delaware,Kidde UK,England-Kidde US Holdings Inc.-Delaware$.Latin American Holding, Inc..Delaware /Menasco Aerosystems Inc./Delaware0Mulberry Holdings LLC0Delaware-1%Netherlands Parkview Co?peratief U.A.1 Netherlands$2Nippon Otis Elevator Company 2Japan3 Noresco, LLC3Delaware.4&Otis Electric Elevator Company Limited 4China-5%Otis Elevator (China) Company Limited 5China06(Otis Elevator (China) Investment Company 6China7Limited8Otis Elevator Company8 New Jersey9Otis Elevator Korea9Korea, Republic of&:Otis Far East Holdings Limited: Hong Kong$;Otis Holdings GmbH & Co. OHG;Germany<=$>____________________________1?)Created by Morningstar Document Research.D6 l$Ou=l7Gv9@0@(http://documentresearch.morningstar.com/H=PF0*8X> @@@??>> l  D  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (3)U } y<}  D     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018NO TITLE  ' United Technologies Corporation (  Subsidiary and Affiliate Listing  December 31, 2017    Entity NamePlace of Incorporation( Otis International Holdings GmbHGermany Otis Investments LimitedEngland Otis LimitedEngland"Otis Pacific Holdings B.V. 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(  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??s!UNITED TECHNOLOGIES CORPORATION!Securities registered pursuant  Securities registered purs (1)Year Ended December 31 2017 !Issuer Purchases of Equity Secu!Executive Officers of the Regis PART IV PART IV (1) PART IV (2)!Three years ended December 31 2!STATEMENT RE COMPUTATION OF PER!STATEMENT RE COMPUTATION OF RATFiveYear SummaryBUSINESS OVERVIEWBUSINESS OVERVIEW (1)BUSINESS OVERVIEW (2) Net Sales Net Sales (1)!Cost of Products and Services S!Cost of Products and Servic (1) Gross MarginResearch and Development!Selling General and AdministratInterest Expense Net!Net Income Attributable to Comm!Net Loss Income Attributable to8RESTRUCTURING COSTSSEGMENT REVIEWCommercial BusinessesCommercial Businesses (1)Commercial Businesses (2)2016 Compared with 2015 2016 Compared with 2015 (1)Aerospace BusinessesAerospace Businesses (1)2016 Compared with 20152016 Compared with 2015 (2)Eliminations and other!16LIQUIDITY AND FINANCIAL CONDICRITICAL ACCOUNTING ESTIMATES!OFFBALANCE SHEET ARRANGEMENTS ACOMMERCIAL COMMITMENTS!33Consolidated Statement of Ope!34Consolidated Statement of Com35Consolidated Balance Sheet!36Consolidated Statement of Cas!37Consolidated Statement of Cha!37Consolidated Statement of (1)!NOTE 1 SUMMARY OF ACCOUNTING PR!NOTE 1 SUMMARY OF ACCOUNTIN (1)!NOTE 1 SUMMARY OF ACCOUNTIN (2)!NOTE 2 BUSINESS ACQUISITIONS DI!NOTE 2 BUSINESS ACQUISITION (1)NOTE 4 EARNINGS PER SHARE!49NOTE 5 COMMERCIAL AEROSPACE I!NOTE 6 INVENTORIES CONTRACTS INNOTE 7 FIXED ASSETS51NOTE 8 ACCRUED LIABILITIES!52NOTE 9 BORROWINGS AND LINES O!52NOTE 9 BORROWINGS AND LIN (1)!52NOTE 9 BORROWINGS AND LIN (2)!52NOTE 9 BORROWINGS AND LIN (3)NOTE 10 EQUITYNOTE 11 INCOME TAXESNOTE 11 INCOME TAXES (1)NOTE 11 INCOME TAXES (2)NOTE 11 INCOME TAXES (3)NOTE 11 INCOME TAXES (4)NOTE 11 INCOME TAXES (5)!59NOTE 12 EMPLOYEE BENEFIT PLAN!59NOTE 12 EMPLOYEE BENEFIT (1)!59NOTE 12 EMPLOYEE BENEFIT (2)!59NOTE 12 EMPLOYEE BENEFIT (3)!59NOTE 12 EMPLOYEE BENEFIT (4)!59NOTE 12 EMPLOYEE BENEFIT (5)!59NOTE 12 EMPLOYEE BENEFIT (6)!59NOTE 12 EMPLOYEE BENEFIT (7)!59NOTE 12 EMPLOYEE BENEFIT (8)!59NOTE 12 EMPLOYEE BENEFIT (9)!59NOTE 12 EMPLOYEE BENEFIT (10)!59NOTE 12 EMPLOYEE BENEFIT (11)!59NOTE 12 EMPLOYEE BENEFIT (12)!59NOTE 12 EMPLOYEE BENEFIT (13)!59NOTE 12 EMPLOYEE BENEFIT (14)!59NOTE 12 EMPLOYEE BENEFIT (15)!59NOTE 12 EMPLOYEE BENEFIT (16)!59NOTE 12 EMPLOYEE BENEFIT (17)!59NOTE 12 EMPLOYEE BENEFIT (18)NOTE 13 RESTRUCTURING COSTS!NOTE 13 RESTRUCTURING COSTS (1)!NOTE 13 RESTRUCTURING COSTS (2)!NOTE 13 RESTRUCTURING COSTS (3)!NOTE 13 RESTRUCTURING COSTS (4)!NOTE 13 RESTRUCTURING COSTS (5)NOTE 14 FINANCIAL INSTRUMENTSNOTE 14 FINANCIAL INSTRUM (1)NOTE 14 FINANCIAL INSTRUM (2)!NOTE 15 FAIR VALUE MEASUREMENTS!NOTE 15 FAIR VALUE MEASUREM (1)!NOTE 15 FAIR VALUE MEASUREM (2)!NOTE 15 FAIR VALUE MEASUREM (3)!NOTE 16 VARIABLE INTEREST ENTIT74NOTE 17 GUARANTEES74NOTE 17 GUARANTEES (1) NOTE 19 SEGMENT FINANCIAL DATA NOTE 19 SEGMENT FINANCIAL (1) NOTE 19 SEGMENT FINANCIAL (2) NOTE 19 SEGMENT FINANCIAL (3) NOTE 19 SEGMENT FINANCIAL (4)!79 SELECTED QUARTERLY FINANCIAL!COMPARATIVE STOCK DATA UNAUDITE!COMPARISON OF CUMULATIVE FIVE Y NO TITLE NO TITLE (1) NO TITLE (2)U } 1}  .     %UNITED TECHNOLOGIES CORP /DE/ 10-K 02/09/2018NO TITLE  ' United Technologies Corporation (  Subsidiary and Affiliate Listing  December 31, 2017    Entity NamePlace of Incorporation/'United Technologies Luxembourg S.? r.l.!Grand-Duchy of Luxembourg( United Technologies Paris S.A.S.France.&United Technologies South Asia Pacific SingaporePte. 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