Edgar Filing: RAYTHEON CO/

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Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 11-K

FOR ANNUAL REPORTS OF EMPLOYEE STOCK

REPURCHASE SAVINGS AND SIMILAR PLANS

PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934



ý	ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2017.



	TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from______ to ______

Commission File Number 1-13699

RAYTHEON SAVINGS AND INVESTMENT PLAN

(Full title of the plan)

RAYTHEON COMPANY

(Name of issuer of the securities held pursuant to the plan)

870 WINTER STREET, WALTHAM, MASSACHUSETTS 02451

(Address of issuer’s principal executive offices)

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Raytheon Savings and Investment Plan

Financial Statements and Supplemental Schedule

To Accompany 2017 Form 5500

Annual Report of Employee Benefit Plan

Under Employee Retirement Income Security Act of 1974

December 31, 2017 and 2016

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Raytheon Savings and Investment Plan

Table of Contents to Financial Statements and Supplemental Schedule

December 31, 2017 and 2016



	Page(s)
Report of Independent Registered Public Accounting Firm	2

Financial Statements

Statements of Net Assets Available for Benefits	3

Statement of Changes in Net Assets Available for Benefits	4

Notes to Financial Statements	5

Supplemental Schedule*

Schedule H, Line 4i- Schedule of Assets (Held at End of Year)	13

Signatures	44

Exhibit Index	45

* Other supplemental schedules required by Section 2520.103-10 of the Department of Labor’s Rules and Regulations and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.

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Report of Independent Registered Public Accounting Firm

To the Administrator and Plan Participants of the Raytheon Savings and Investment Plan

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of Raytheon Savings and Investment Plan (the “Plan”) as of December 31, 2017 and December 31, 2016 and the related statement of changes in net assets available for benefits for the year ended December 31, 2017, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the year ended December 31, 2017 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Supplemental Information

The supplemental schedule of assets (held at end of year) at December 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

June 18, 2018

We have served as the Plan’s auditor since at least 2002. We have not determined the specific year we began serving as auditor of the Plan.

Raytheon Savings and Investment Plan

Statements of Net Assets Available for Benefits

December 31, 2017 and 2016



	2017		2016
Assets
Total investments at fair value (Notes 2 and 3)	$	16,610,845,610	$	14,073,012,671

Fully benefit-responsive investment contracts at contract value (Note 4)	1,765,191,430		1,844,304,082

Receivables
Notes receivable from participants	213,867,927		216,286,658
Receivables for securities sold	464,738		14,721,892
Accrued investment income and other receivables	20,092,500		22,106,089
Total receivables	234,425,165		253,114,639

Total assets	18,610,462,205		16,170,431,392
Liabilities
Payable for securities purchased	21,793,982		26,140,345
Accrued investment expenses and other payables	3,689,073		1,536,261
Total liabilities	25,483,055		27,676,606

Net assets available for benefits	$	18,584,979,150	$	16,142,754,786

The accompanying notes are an integral part of these financial statements.

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Raytheon Savings and Investment Plan

Statement of Changes in Net Assets Available for Benefits

Year Ended December 31, 2017



	2017
Additions to net assets attributable to:

Net appreciation of investments (Notes 2 and 3)	$	2,403,938,433
Interest and dividends	306,620,727
Interest income on notes receivable from participants (Note 2)	7,619,415
Other revenue (Note 5)	5,842

Contributions
Employee contributions	686,304,899
Employer contributions	302,834,661
	989,139,560
Total additions	3,707,323,977

Deductions from net assets attributable to:

Distributions to participants	$	1,257,305,941
Administrative expenses	11,104,030
Total deductions	1,268,409,971

Increase in net assets prior to plan mergers	2,438,914,005
Transfers in from affiliate benefit plans (Note 1)	3,310,358
Increase in net assets available for benefits	2,442,224,364
Net assets, beginning of year	16,142,754,786
Net assets, end of year	$	18,584,979,150

The accompanying notes are an integral part of these financial statements.

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Raytheon Savings and Investment Plan

Notes to Financial Statements

December 31, 2017 and 2016

1. Description of Plan

The following description of the Raytheon Savings and Investment Plan (the “Plan”) provides only general information. Participants should refer to the Plan document for a complete description of the Plan's provisions.

General

The Plan is a defined contribution plan covering the majority of employees of Raytheon Company (the “Company” or the “Plan Sponsor”). Most employees are immediately eligible to enroll in the Plan on the first day of service. The purpose of the Plan is to provide participants with a tax-effective means of meeting both short-term and long-term investment objectives. The portion of the Plan that is invested in Raytheon Company common stock is an employee stock ownership plan (“ESOP”) that is intended to constitute a stock bonus plan as defined in the Internal Revenue Code of 1986 (the “Code”) and that includes a cash or deferred arrangement. The remaining portion of the Plan is a profit-sharing plan that includes a cash or deferred arrangement. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”).

Raytheon Sensintel, Inc., a wholly owned subsidiary of the Plan Sponsor, was merged into the Plan Sponsor on January 1, 2016. On that date Raytheon Sensintel, Inc.'s employees became employees of the Plan Sponsor and became eligible to participate in the Plan. The Sensintel, Inc. 401(k) Plan was merged into the Plan on May 12, 2017, resulting in the transfer of $835,357 into the Plan.

Raytheon Foreground Security is a wholly owned subsidiary of the Plan Sponsor. Raytheon Foreground Security’s employees became eligible to participate in the Plan on January 1, 2017. The Foreground Security 401(k) and Profit Sharing Plan (“Foreground Plan”) was merged into the Plan on December 14, 2017, resulting in the transfer of $2,475,001 into the Plan.

The Plan's investments are held in the Raytheon Savings and Investment Plan Trust (the “Trust”).

Contributions and Deferrals

Eligible employees may contribute to the Plan up to 50% of their compensation, as defined in the Plan document. The Code limits eligible compensation the Plan may take into account to $270,000 for the 2017 plan year. Employee contributions, including rollovers, are invested based on participant investment elections. For 2017, the annual employee pretax elective deferral contributions for a participant cannot exceed $18,000, except for catch-up contributions. Participants also may make after tax contributions, but total employee (pretax and after tax) contributions and employer contributions may not exceed $54,000 for the 2017 plan year, except for catch-up contributions. A participant who is eligible to make elective pretax contributions and is at least age 50 by the end of 2017 may make pretax catch-up contributions up to $6,000. Participants may also make after tax Roth 401(k) contributions, which are aggregated with pretax contributions for purposes of the limits on contributions.

For most employees hired after December 31, 2009, for the first five consecutive years of service, the Company matches 100% of the first 3% of eligible compensation that a participant contributes to the Plan each pay period. After the first five consecutive years of service, the Company matches 100% of the first 4% of eligible compensation. For most employees hired before January 1, 2010, the Company matches 100% of the first 4% of eligible compensation that a participant contributes to the Plan each pay period. Matching Company contributions are made in cash and are invested based on the investment allocation elected by each participant.

Eligible employees hired or rehired on or after January 1, 2007 participate in the Retirement Income Savings Program (“RISP”) (subject to the terms of any applicable collective bargaining agreements), in addition to having the right to participate in the other features of the Plan. Most employees hired after December 31, 2009 have a one-year waiting period for participation in RISP. Under RISP, the Company contributes a percentage of each RISP-eligible participant's compensation to the participant's RISP account in the Plan. The percentage contribution varies according to a schedule based on the participant's age at the most recent date of hire, years of service since the most recent date of hire and whether the participant's most recent date of hire was before or after December 31, 2009.

Participants may invest contributions in increments of 1% in any combination of investment options available, subject to percentage limitations applicable to some funds. The investment options range from investments with an emphasis on preservation of capital to equity investments with an emphasis on capital gains. The underlying investments include investment

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Raytheon Savings and Investment Plan

Notes to Financial Statements

December 31, 2017 and 2016

contracts, registered investment companies, common collective trusts, Raytheon Company common stock, fixed income securities and other investments including a self-directed brokerage account.

Participant Accounts

Each participant account is credited with the participant's contributions, the Company's contributions and an allocation of Plan earnings (losses). The allocation of Plan earnings (losses) is based on the participant account's balance and investment option allocation. Expenses payable by the Plan are charged to participant accounts or paid from the forfeiture account, or are paid from the credits the Plan receives under the agreement with its record keeper, Fidelity Management Trust Company (FMTC).

Participants are not permitted to make a direct exchange from the Raytheon Fixed Income Fund (the “Fixed Income Fund”), a stable value fund specifically managed for the Plan, into a "competing" fund (such as a money market fund). Investors who wish to move money from the Fixed Income Fund to a "competing" fund must first make an exchange from the Fixed Income Fund to a non-competing fund for 90 days. After 90 days, participants may exchange from a non-competing fund into a competing fund.

Vesting

With the exception of RISP participants and certain union groups, all employee and most employer contributions and earnings (losses) thereon are immediately 100% vested for each participant who performs an hour of service on or after January 1, 1999. Most RISP participants become 100% vested in the employer RISP contributions after three years of service. Forfeitures of the non-vested portions of terminated participants' accounts are available to reduce Company contributions and pay administrative expenses. At December 31, 2017 and 2016, unallocated Plan forfeitures were $143,458 and $1,098,591, respectively. During 2017, the total amount of forfeitures were $1,424,567.

Notes Receivable from Participants

A participant may borrow a portion of the balance in the participant's account, other than the RISP account, subject to certain restrictions. The maximum amount of a loan is the lesser of one-half of the participant's vested account balance or $50,000, minus the participant's highest outstanding loan balance over the previous 12 months. The minimum loan is $500. Loans are secured by the balance in the participant's account and bear interest equal to the prime rate published in The Wall Street Journal on the last business day of the calendar quarter preceding the calendar quarter in which the loan is made. Loans must be repaid over a period of up to five years, except that if the loan is used to acquire the participant's principal residence, the repayment period may extend up to 15 years. Loan payments and interest payments are credited to the participant's account in the investment options according to the participant's current investment election. As of December 31, 2017 and 2016, the interest rates on the outstanding loans ranged from 3.25% to 9.50%.

Payment of Benefits

A participant may make certain in-service withdrawals including all or a portion of participant after tax contributions, any rollover contributions and related earnings at any time and all or a portion of participant contributions, employer contributions and related earnings upon attainment of age 59 1/2. Participants who have not reached age 59 ½ but who have participated in the Plan for five years or more may take withdrawals of their company matching contributions. For reasons of financial hardship, a participant may withdraw all or a portion of participant pretax contributions and related earnings subject to a reduction in the maximum participant contribution rate for the next six months. On termination of employment, a participant with a vested balance less than $1,000 will receive a lump-sum distribution unless the participant elects to defer distribution. If the vested balance is in excess of $1,000, a distribution can be requested at any time. If no distribution is requested the terminated participant will receive annual statutory distributions starting in the year in which the participant reaches the age of 70 ½, or the year of termination if later. The participant may elect to defer this initial payment until April 1 of the following year. Any excess over the annual statutory distributions may be deferred until the participant's death.

Participants who have investments in the Raytheon Stock Fund which is primarily comprised of Raytheon Company common stock may elect to reinvest dividends within the Plan or, if vested, receive dividends in cash. Any dividends received in cash by participants will be subject to taxes in the year of receipt. Of the $26,813,730 in dividends earned by the Plan in 2017, $939,039 was received in cash by participants who elected the cash payment option.

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Raytheon Savings and Investment Plan

Notes to Financial Statements

December 31, 2017 and 2016

2. Summary of Significant Accounting Policies

Basis of Accounting

The accompanying financial statements are prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (US GAAP).

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of net assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from the estimates included in the financial statements.

Investment Valuation and Income Recognition

Fully benefit-responsive investment contracts (FBRICs) are reported at contract value, which is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Plan invests in FBRICs through the Fixed Income Fund.

Plan investments, other than FBRICs, are stated at fair value. See Note 3 for discussion of fair value measurements.

Security transactions are recorded on the trade date. Payables and receivables for outstanding purchases and sales represent trades which have occurred but have not yet settled and are recorded on the statements of net assets available for benefits.

Dividend income is recorded on the ex-dividend date. Income from other investments is recorded as earned on an accrual basis.

The Plan presents in the statement of changes in net assets available for benefits the net appreciation (depreciation) in the fair value of its investments, excluding FBRICs, which consists of the realized gains (losses) and the unrealized appreciation (depreciation) on those investments.

Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance plus any accrued interest. No allowance for credit losses have been recorded as of December 31, 2017 or 2016. Delinquent participant loans are classified as distributions based upon the terms of the plan document.

Payment of Benefits

Benefits are recorded when paid.

Administrative Expenses

Expenses of administering the Plan such as loan processing, legal fees and other administrative fees are charged directly or indirectly to participant accounts. Those expenses of administering the Plan that are not charged to participant accounts are paid by the forfeiture account, by the Company, or from credits the Plan receives under the agreement with its record keeper, FMTC.

Subsequent Events

The Plan has evaluated subsequent events through the time of filing this Form 11-K with the Securities and Exchange Commission.

3. Fair Value Measurements

The accounting standard for fair value measurements provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. Fair value is defined as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. This accounting standard established a fair value hierarchy, which requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required:

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Raytheon Savings and Investment Plan

Notes to Financial Statements

December 31, 2017 and 2016



Level 1:	Quoted prices in active markets for identical assets or liabilities.
Level 2:	Observable inputs, other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or that we corroborate with observable market data for substantially the full term of the related assets or liabilities.
Level 3:	Unobservable inputs supported by little or no market activity that are significant to the fair value of the assets or liabilities.

A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Certain investments that are measured at fair value using the net asset value per share (“NAV”), or its equivalent, practical expedient have not been classified in the fair value hierarchy.

Following is a description of valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2017 and 2016.

Investments in registered investment companies are valued at the closing net asset value reported on the last business day of the year. Investments in securities traded on a national securities exchange are valued at the exchange traded close.

The self-directed brokerage account is reported as a single type investment. Investments in the self-directed brokerage account consist of registered investment companies and exchange traded funds. These investments are valued in line with the fair value measurement levels described above.

The Plan invests in common collective trusts ("CCT") which are valued at the net asset value of the CCT. The NAV, as provided by the investment manager or custodian, is net of fees and is based on the fair value of the underlying investments held by the CCT less its liabilities. Participant transactions (purchases and sales) may occur daily. If the Plan were to initiate a full redemption of the CCT, the investment adviser reserves the right to temporarily delay withdrawal from the trust in order to ensure that securities liquidations will be carried out in an orderly business manner.

For the years ended in December 31, 2017 and December 31, 2016, there were no transfers between levels.

The following tables set forth the investment assets of the Plan that were measured at fair value on a recurring basis by level within the fair value hierarchy.



	Fair Value of Investment Assets as of 12/31/2017
	Total		Level 1		Level 2		Level 3		Not Subject To Leveling ⁽¹⁾

Registered investment companies	$	6,719,268,001	$	6,719,268,001	$	—	$	—	$	—
Self-directed brokerage account	621,574,612		621,574,612		—		—		—
Raytheon Company common stock	2,068,984,221		2,068,984,221		—		—		—
Common collective trusts	7,201,018,776		—		—		—		7,201,018,776
Total investments at fair value	$	16,610,845,610	$	9,409,826,834	$	—	$	—	$	7,201,018,776

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Raytheon Savings and Investment Plan

Notes to Financial Statements

December 31, 2017 and 2016



	Fair Value of Investment Assets as of 12/31/2016
	Total		Level 1		Level 2		Level 3		Not Subject To Leveling⁽¹⁾

Registered investment companies	$	5,985,917,538	$	5,985,917,538	$	—	$	—	$	—
Self-directed brokerage account	528,817,922		528,817,922		—		—		—
Raytheon Company common stock	1,622,194,652		1,622,194,652		—		—		—
Common collective trusts	5,936,082,559		—		—		—		5,936,082,559
Total investments at fair value	$	14,073,012,671	$	8,136,930,112	$	—	$	—	$	5,936,082,559

⁽¹⁾ Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits.

4. Fully Benefit-Responsive Investment Contracts (FBRICs)

For the plan year ended December 31, 2017 and 2016, the Plan included the Fixed Income Fund, which holds FBRICs issued by American General Life Insurance Company, Bank of Tokyo-Mitsubishi, JP Morgan Chase Bank, Prudential Insurance Company of America, State Street Bank and Trust Company and Transamerica in both 2017 and 2016. These FBRICs are collectively referred to as the “FBRIC Providers”.

The FBRICs make up the Synthetic Guaranteed Investment Contracts ("Synthetic GICs") and are designed to decrease volatility by providing the Fixed Income Fund with the ability to execute certain participant transactions at contract value through the use of FBRICs. Under the FBRICs, there is no immediate recognition of gains and losses on the Fixed Income Fund's investments. Instead gains and losses are recognized over time by periodically adjusting the interest rates credited to the Fixed Income Fund. This allows the Fixed Income Fund to credit a fixed interest rate for stated periods of time on investments which are subject to FBRICs.

Income from the FBRICs is reported net of administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value with certain restrictions related to the transfer of funds into a competing investment option. The Plan considers such factors as the benefit responsiveness of the investment contracts, the ability of the parties to the contracts to perform in accordance with the terms of the contracts and the likelihood of default by an issuer of an investment security in evaluating the components of the FBRICs.

The FBRICs accrue interest using a formula embedded in the contract called the “crediting rate.” The FBRICs use the crediting rate formula to convert market value changes in the FBRICs assets into income distributions in order to minimize the difference between the market and contract value of the FBRICs assets over time. Using the crediting rate formula, an estimated future market value is calculated by compounding the Fixed Income Fund's current market value at the Fixed Income Fund's current yield to maturity for a period equal to the Fixed Income Fund's duration. The crediting rate is the discount rate that equates estimated future market value with the Fixed Income Fund's current contract value. The crediting rate is most impacted by the change in the annual effective yield to maturity of the underlying securities, but is also affected by the differential between the contract value and the market value of the wrapped investments. The difference is amortized over the duration of the investments. The magnitude of the impact of the contract value and the market value differential to the crediting rate is affected by the length of time between the reset period and the duration of the investments. Crediting rates are reset monthly. The FBRICs provide a guarantee that the crediting rate will not fall below 0%. Events disqualifying an underlying investment from being wrapped include, but are not limited to, bankruptcy, default or restricted liquidity of the security issuer.

The crediting rate, and hence the Fixed Income Fund's return, may be affected by many factors, including purchases and redemptions by participants. The precise impact on the Fixed Income Fund depends on whether the market value of the wrapped assets is higher or lower than the contract value of those assets. If the Fixed Income Fund experiences significant redemptions when the market value is below the contract value, the Fixed Income Fund's yield may be reduced significantly, to a level that is not competitive with other investment options. This may result in additional redemptions, which would tend to lower the crediting rate further. If redemptions continued, the Fixed Income Fund's yield could be reduced to zero. If

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Raytheon Savings and Investment Plan

Notes to Financial Statements

December 31, 2017 and 2016

redemptions continued thereafter, the Fixed Income Fund might have insufficient assets to meet redemption requests, at which point the Fixed Income Fund would require payments from the FBRICs Providers to pay further participant redemptions.

The Fixed Income Fund and the FBRICs purchased by the Fixed Income Fund are designed to pay all participant-initiated transactions at contract value. Participant-initiated transactions are those transactions allowed by the Plan (typically this would include withdrawals for benefits, loans or transfers to non-competing investment options within the Plan). However, the FBRICs limit the ability of the Fixed Income Fund to transact at contract value upon the occurrence of certain events. At this time, management believes the occurrence of any of these events is not probable. These events include:


1.	The Plan's failure to qualify under Section 401(a) or Section 401(k) of the Code.


2.	The establishment of a defined contribution plan that competes with the Plan for employee contributions.


3.	Any substantive modification of the Plan or the administration of the Plan that is not consented to by the FBRIC Provider.


4.	Complete or partial termination of the Plan.


5.	Any known change in law, regulation or administrative ruling applicable to the Plan that could have a material adverse effect on the Fixed Income Fund's cash flow.


6.	Any communication given to participants by the Plan Sponsor or any other plan fiduciary that is designed to induce or influence participants not to invest in the Fixed Income Fund or to transfer assets out of the Fixed Income Fund.


7.	Exclusion of a material group of previously eligible employees from eligibility in the Plan.


8.	Any material early retirement program, group termination, group layoff, facility closing or similar program.


9.	Any transfer of assets from the Fixed Income Fund directly to a competing option.


10.	Bankruptcy of the Plan Sponsor or other Plan Sponsor events which cause a significant withdrawal from the Plan.

A FBRIC Provider may terminate a FBRIC at any time. In the event that the market value of the Fixed Income Fund's wrapped assets is below their contract value at the time of such termination, the Trustee may elect to keep the FBRIC in place until such time as the market value of the Fixed Income Fund's wrapped assets is equal to their contract value. A FBRIC Provider may also terminate a FBRIC if FMTC's investment management authority over the Fixed Income Fund is limited or terminated as well as if all of the terms of the FBRIC fail to be met. In the event that the market value of the Fixed Income Fund's wrapped assets is below their contract value at the time of such termination, the terminating FBRIC Provider would not be required to make a payment to the Fixed Income Fund.

FBRICs generally impose conditions on both the Plan and the FBRIC Provider. If an event of default occurs and is not cured, the non-defaulting party may terminate the FBRIC. The following may cause the Plan to be in default: a breach of material obligation under the contract; a material misrepresentation; or a material amendment to the Plan agreement. The FBRIC Provider may be in default if it breaches a material obligation under the FBRIC; makes a material misrepresentation; has a decline in its long-term credit rating below a threshold set forth in the FBRIC; or is acquired or reorganized and the successor issuer does not satisfy the investment or credit guidelines applicable to issuers. The FBRIC Providers' ability to meet their contractual obligations under the respective FBRICs may be affected by future economic and regulatory developments in the insurance and banking industries. If, in the event of default of a FBRIC Provider, the Plan was unable to obtain a replacement FBRIC, withdrawing participants may experience losses if the value of the Fixed Income Fund's assets no longer covered by the FBRIC is below contract value. The Plan may seek to add additional issuers over time to diversify the Plan's exposure to such risk, but there is no assurance that the Plan will be able to do so. The combination of the default of a FBRIC Provider and an inability to obtain a replacement FBRIC could render the Plan unable to achieve its objective of maintaining a stable contract value. The terms of a FBRIC generally provide for settlement of payments only upon termination of the FBRIC or total liquidation of the wrapped investments. Generally, payments will be made pro-rata, based on the percentage of investments covered by each FBRIC Provider. FBRIC termination occurs whenever the contract value or market value of the wrapped investments reaches zero or upon certain events of default. If the FBRIC terminates due to the default of the FBRIC Provider (other than a default occurring because of a decline in its rating), the FBRIC Provider will generally be required to pay to the Plan the excess, if any, of contract value over market value on the date of termination. If a FBRIC terminates due to a decline in the ratings of the FBRIC Provider, the FBRIC Provider may be required to pay to the Plan the cost of acquiring a replacement contract (i.e. replacement cost) within the meaning of the FBRIC. If the FBRIC terminates when the market value equals zero, the FBRIC Provider will pay the excess of contract value over market value to the Plan to the extent necessary for the Plan to satisfy participant initiated withdrawal requests. FBRIC termination also may occur by either party upon election and notice.

The FBRIC Provider may elect to terminate the FBRIC for no reason by giving certain notice to the Trustee. If, at any time,

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Raytheon Savings and Investment Plan

Notes to Financial Statements

December 31, 2017 and 2016

prior to dates agreed to in each FBRIC for the receipt of such notice, the Trustee objects to such election, the Trustee shall be deemed to have made an immunization election and the immunization provisions of the FBRIC apply. The immunization provision results in the wrapped portion of the Fixed Income Fund being managed according to more conservative immunization investment guidelines provided for in the FBRIC and the contract can terminate in segments over a period of time. In the event a FBRIC Provider sought to terminate its FBRIC or immunize its portion of the Fixed Income Fund, the Fund can seek to replace that FBRIC Provider with another financial institution.

Plans investing in FBRICs and fixed income securities are subject to a number of risks, including credit risk of underlying investments, risk associated with prepayment of collateralized mortgage obligations, risk that third parties will not perform under the FBRICs, risk associated with interest rate fluctuations and risk of losses caused by liquidation of contracts or investments to meet withdrawal demands.

5. Certain Transactions Involving Related Parties and Parties-In-Interest

The Trustee of the Plan, FMTC, is a party-in-interest with respect to the Plan. Certain Plan transactions involve FMTC or its affiliates. For example, certain Plan investments are shares of registered investment companies managed by affiliates of FMTC. The Plan also pays fees to the Trustee. In addition, the Plan has a revenue sharing agreement with the Trustee whereby certain revenue received by the Trustee from sponsors of some Plan investment options is paid to the Trust and is allocated to the accounts of participants invested in these options. For the year ended December 31, 2017, $5,842 in such revenue sharing was allocated to participant accounts.

Subject to the terms of the Plan document, the Plan makes certain loans to participants who are employees of the Company, and who are therefore parties-in-interest with respect to the Plan.

The Plan Sponsor, Raytheon Company, is a party-in-interest with respect to the Plan. In accordance with the provisions of the Plan, the Trustee acts as the Plan's agent for purchases and sales of shares of Raytheon Company common stock. Purchases amounted to $21,927,501 and sales amounted to $48,003,384 for the year ended December 31, 2017. Dividend income from shares of Raytheon Company common stock amounted to $25,874,691 for the year ended December 31, 2017.

All of these transactions either fall outside the scope of, or are exempt from, ERISA's prohibited transaction rules.

6. Plan Termination

Although it has not expressed any intention to do so, the Company reserves the right under the Plan at any time to discontinue its contributions and to terminate the Plan subject to the provisions of ERISA. Upon termination of the Plan, all participants become fully vested in their accounts. In the event of Plan termination, after payment of all expenses and adjustment of accounts to reflect such expenses, fund losses or profits, and reallocations, each participant shall be entitled to receive all amounts then in his or her account.

7. Federal Income Tax Status

The Internal Revenue Service (“IRS”) has determined and informed the Company by letter dated June 25, 2012, that the design of the Plan meets the requirements for qualification under Code section 401(a), on which the tax exemption of the Trust under Code section 501(a) is based. The Plan has been amended since receiving the determination letter. The Plan administrator and the Company's benefits counsel believe that the current design and operation of the Plan are consistent with preservation of the qualification of the Plan and exemption of the Trust in the context of applicable IRS procedures.

The Plan follows the provisions of uncertain tax positions that provide criteria for the recognition, measurement, presentations and disclosure of uncertain tax positions. The Plan may, from time to time, hold investments that give rise to certain tax liabilities. Based upon management's assessment, the Plan has not recognized any tax liabilities at December 31, 2017 and 2016, respectively. The Plan is subject to examinations by taxing jurisdictions. The Plan administrator believes the Plan is no longer subject to federal tax examination for years prior to 2014.

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Raytheon Savings and Investment Plan

Notes to Financial Statements

December 31, 2017 and 2016

8. Risks and Uncertainties

The Plan provides for various investment options. These investment options are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment options of the Plan, it is reasonably possible that changes in the values of investment securities will occur and such change could materially affect participants' account balances and the Plan's financial statements.

Counterparty credit risk is the risk that a counterparty to a financial instrument will fail on a commitment that it has entered into with the Plan. The Plan minimizes concentrations of counterparty credit risk by undertaking transactions with multiple counterparties. The Plan's investment fiduciary has a credit policy in place and the exposure to counterparty credit risk, as well as the creditworthiness of these counterparties, is monitored on an ongoing basis.

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
Investment Contracts
	21st Century Fox	4.5% 02/15/21	1,000,000	$	1,056,827
	21st Century Fox	6.9% 3/01/19	925,000	973,521
	Abbott Lab	2.35% 11/30/19	2,515,000	2,515,261
	Abbott Lab	2.9% 11/30/21	2,240,000	2,265,682
	Abbvie Inc	2% 11/6/18 WI	2,680,000	2,679,172
	Abbvie Inc	2.9% 11/06/22 WI	800,000	801,521
	Abbvie Inc	3.6% 5/14/25	835,000	858,246
	Abbvie Inc	2.5% 5/14/20	2,000,000	2,006,043
	Ace Ina Holding	2.3% 11/03/20	255,000	254,575
	Ace Ina Holding	2.875% 11/22	2,490,000	2,523,570
	Actavis Funding	2.35% 3/12/18	1,300,000	1,301,014
	Actavis Funding	3% 3/12/20	1,029,000	1,038,200
	Actavis Funding	3.45% 3/22	4,050,000	4,114,548
	Actavis Funding	3.8% 03/15/25	3,020,000	3,073,814
	AerCap Ireland	5% 10/21	725,000	772,759
	AerCap Ireland	4.25% 07/01/20	645,000	669,251
	AerCap Ireland	4.625% 10/30/20	485,000	508,380
	AerCap Ireland	3.5% 01/15/25	750,000	743,258
	Aetna Inc	4.125% 6/01/21	250,000	260,192
	Agrium Inc	3.15% 10/01/22	250,000	252,790
	AIG Global Funding	2.15% 7/2/20 144A	747,000	740,336
	AIG International Group	4.875% 6/01/22	600,000	652,349
	Air Lease Corp	2.625% 09/04/18	1,310,000	1,313,855
	Air Lease Corp	2.625% 07/01/22	1,255,000	1,237,916
	Air Liquid	1.75% 9/27/21 144A	1,080,000	1,047,356
	Alabama Economic Settlement Authority	3.163% 9/15/25	445,000	449,957
	Alberta Province	1.9% 12/6/19	3,620,000	3,595,131
	Ally Auto Receivable Trust	1.74% 09/21	880,000	875,019
	Ally Auto Receivable Trust	1.75% 12/21	1,331,000	1,320,349
	Ally Auto Receivable Trust	1.7% 02/21	645,000	641,994
	Altria Group Inc	9.25% 8/06/19	40,000	44,342
	Altria Group Inc	2.85% 8/09/22	520,000	523,343
	American Electric Power	2.15% 11/13/20	522,000	519,529
	American Express Credit Account Master	1.77% 11/22	860,000	852,601
	American Express Credit Account Master	1.64% 12/21	1,150,000	1,144,052
	American Express Credit Account Master	2.04% 05/23	698,000	694,638
	American Express Credit Account Master	1.93% 09/22	1,187,000	1,181,533
	American Express Credit Corporation	2.125% 3/18/19	805,000	804,942
	American Express Credit Corporation	2.5% 08/01/22	860,000	849,508
	American Express Credit Corporation	3% 10/24	1,040,000	1,038,032

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	American Express Credit Corporation	2.25% 5/05/21	1,000,000	992,012
	American Honda	1.7% 02/22/19	411,000	409,280
	American Honda	1.7% 9/9/21	500,000	486,936
	American International Group	5.85% 1/16/18	500,000	500,625
	American International Group	2.3% 7/19	2,155,000	2,153,176
	American International Group	3.3% 3/01/21	2,000,000	2,038,669
	American Tower	3.4% 2/15/19	1,510,000	1,527,001
	Amgen Inc	4.1% 6/15/21	2,255,000	2,355,213
	Amgen Inc	2.65% 05/11/22	1,545,000	1,540,650
	Amphenol Corp	3.2% 4/1/24	145,000	145,950
	Anheuser Busch	6.875% 11/19	1,245,000	1,348,855
	Anhueser-Busch	2.65% 2/01/21	2,780,000	2,793,704
	Anhueser-Busch	3.3% 2/01/23	3,509,000	3,590,240
	Anhueser-Busch	1.9% 2/01/19	900,000	898,073
	Anthem Inc	2.95% 12/01/22	555,000	555,155
	Apple Inc	2.85% 5/06/21	660,000	670,523
	Arch Capital Finance	4.011% 12/15/26	375,000	390,316
	AT&T Inc	2.45% 6/30/20	502,000	501,418
	AT&T Inc	3% 6/30/22	580,000	580,959
	AT&T Inc	3.4% 5/15/25	4,725,000	4,644,283
	AT&T Inc	2.8% 2/17/21	6,360,000	6,387,586
	AT&T Inc	5% 3/01/21	1,000,000	1,070,797
	AT&T Inc	3.8% 3/15/22	590,000	609,684
	Australian and New Zealand Banking Group Limited	2.25% 6/13/19	650,000	650,736
	Australian and New Zealand Banking Group Limited	2.7% 11/16/20	1,690,000	1,699,794
	Avalonbay Communities	3.625% 10/1/20	209,000	215,133
	Avangrid Inc	3.15% 12/01/24	600,000	596,720
	Aventura Mall Trust	2013 Avm A 3.7427% 12/32	2,415,000	2,488,268
	Aviation	2.875% 1/20/22 144A	1,335,000	1,333,749
	Axis Specialty	5.875% 6/01/20	2,150,000	2,300,951
	Baker Hughes	2.773% 12/15/22 144A	1,365,000	1,363,022
	Baker Hughes	3.337% 12/27 144A	845,000	843,321
	Bank of America Commercial Mortgage Trust	2016-Ub10 A2 2.612% 06/49	534,000	534,748
	Bank of America Corp	5.65% 5/01/18	4,525,000	4,578,989
	Bank of America Corp	4% 01/22/25	1,225,000	1,274,156
	Bank of America Corp	3.3% 1/11/23	2,285,000	2,337,225
	Bank of America Corp	3.95% 4/21/25	1,120,000	1,157,943
	Bank of America Corp	2.6% 1/15/19	542,000	543,820

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Bank of America Corp	2.65% 4/01/19	1,890,000	1,900,581
	Bank of America Corp	3.289% 07/60	1,000,000	1,017,805
	Bank of America Corp	4.45% 3/03/26	540,000	576,253
	Bank of America Corp	2.625% 4/19/21	1,500,000	1,507,507
	Bank of America Corp	3.5% 4/19/26	1,275,000	1,303,220
	Bank of America Corp	3.124%/VAR 1/23	1,065,000	1,080,214
	Bank of America Corp	3.593%/VAR 07/28	1,560,000	1,585,199
	Bank of America Corp	3.004%/VAR 12/20/23 144A	5,802,000	5,816,081
	Bank of America Credit Card Trust	2016-A1 A 1Ml+39 10/21	4,300,000	4,315,330
	Bank of America Credit Card Trust	2015-A1 A 1Ml+33 6/20	2,850,000	2,850,435
	Bank of America Credit Card Trust	2017-A1 A1 1.95% 08/22	1,054,000	1,049,286
	Bank of America Credit Card Trust	2017-A2 A2 1.84% 1/23	958,000	948,637
	Bank of the West Auto Trust	2015-1 A3 1.31% 10/19	949,146	948,427
	Bank of Tokyo-Mitsubishi	2.3% 3/20 144A	380,000	378,609
	Banque Fédérative du Crédit Mutuel	2.2% 07/20/20 144A	1,245,000	1,236,929
	Barclays plc	4.375% 1/12/26	930,000	967,405
	Barclays plc	3.2% 08/10/21	1,000,000	1,005,379
	Barclays plc	4.337% 01/10/28	2,045,000	2,115,924
	Barclays plc	2.75% 11/08/19	334,000	334,718
	BAT International Finance	2.75% 6/20 144A	2,400,000	2,411,584
	BAT International Finance	3.5% 6/22 144A	500,000	511,430
	Bayer US Finance	2.375% 10/19 144 A	1,000,000	1,000,445
	Bayer US Finance	3% 10/08/21 144A	1,115,000	1,126,324
	BB&T Corporation	2.25% 2/01/19	140,000	140,232
	BB&T Corporation	6.85% 4/19	9,000	9,540
	Bear Stearns	7.25% 2/01/18	1,350,000	1,355,398
	Becton Dickinson	2.675% 12/19	105,000	105,367
	Berkley (WR) Corporation	5.375% 9/15/20	1,300,000	1,388,898
	Berkley (WR) Corporation	7.375% 9/19	700,000	753,303
	Berkshire Hathaway Energy	2.4% 2/20	2,000,000	2,009,234
	BMW US Capital	2.7% 04/06/22 144A	937,000	940,103
	BMW US Capital	1.85% 9/15/21 144A	1,075,000	1,048,728
	BMW US Capital	2% 4/11/21 144A	1,825,000	1,798,859
	BMW Vehicle Lease Trust	2.07% 10/20	411,000	409,878
	BMW Vehicle Owner Trust	2016-A A3 1.41% 7/20	1,439,000	1,427,919
	BNP Paribas	2.45% 3/17/19	1,351,000	1,357,644
	BP Capital Markets plc	3.245% 5/06/22	625,000	640,533
	BP Capital Markets plc	2.241% 9/26/18	1,065,000	1,066,953
	BP Capital Markets plc	2.315% 2/20	733,000	734,741
	BP Capital Markets plc	1.674% 2/18	1,330,000	1,329,671

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	BP Capital Markets plc	1.676% 5/03/19	203,000	201,915
	BP Capital Markets plc	2.52% 9/19/22	490,000	487,498
	BPCE SA	2.5% 12/10/18	1,000,000	1,002,805
	BPCE SA	2.5% 7/15/19	1,300,000	1,304,336
	BPCE SA	2.25% 1/27/20	2,900,000	2,892,663
	BPCM	1.375% 5/10/18	609,000	608,069
	Brambles Ltd	5.35% 4/20 144A	980,000	1,031,131
	British American Tobacco	2.764% 08/15/22 144A	4,670,000	4,643,958
	British Telecom plc	2.35% 2/19	556,000	556,550
	Broadcom	3.625% 1/24 144A	2,200,000	2,187,198
	Burlington North Santa Fe	4.1% 6/21	2,000,000	2,105,348
	Cameron International Corporation	4.5% 6/01/21	1,490,000	1,548,161
	Canadian Imperial Bank	2.55% 6/22	1,380,000	1,370,464
	Canadian Natural Resources	3.45% 11/15/21	525,000	536,940
	Canadian Pacer Auto Receivable	2.05% 03/21	488,000	485,830
	Capital One	2.45% 4/24/19	1,054,000	1,056,379
	Capital One	2.5% 05/12/20	500,000	499,343
	Capital One	2.25% 2/13/19	910,000	910,086
	Capital One	2.95% 7/23/21	965,000	970,651
	Capital One	2.25% 9/13/21	1,445,000	1,417,312
	Capital One	2.35% 1/31/20	1,335,000	1,330,908
	Capital One	2.65% 08/08/22	520,000	514,488
	Capital One Multi-Asset Execution Trust	2.08% 03/23	240,000	239,380
	Capital One Multi-Asset Execution Trust	2.05% 08/23	581,000	578,359
	Capital One Multi-Asset Execution Trust	2016-A3 A3 1.34% 4/22	1,060,000	1,049,221
	Capital One Multi-Asset Execution Trust	2016-A4 A4 1.33% 6/15/22	868,000	857,222
	Capital One Multi-Asset Execution Trust	2017-A3 A3	858,000	852,712
	Capital One Multi-Asset Execution Trust	1.99% 07/23	2,331,000	2,316,266
	CarMax	2015-2 A3 1.37% 3/20	920,218	918,281
	CarMax	16-4 A3 1.4% 8/21	740,000	732,540
	CarMax	2014-4 A3 1.25% 11/19	534,859	534,235
	CarMax	2015-3 A3 1.63% 6/20	247,288	246,882
	CarMax	2015-1 A3 1.38% 11/19	337,717	337,246
	CarMax	2016-2 A3 1.52% 2/21	1,615,000	1,608,342
	CarMax	16-2 A2B 1Ml+.47 6/17/19	167,709	167,811
	CarMax	1.93% 03/22	1,285,000	1,277,952
	CarMax	2.15% 10/22	348,000	346,291
	CarMax	1.97% 04/22	1,127,000	1,120,905
	Caterpillar Financial	2.1% 01/10/20	597,000	595,730
	Caterpillar Financial	1.85% 9/04/20	770,000	760,957

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Caterpillar Financial	2.55% 11/22	735,000	732,546
	CBS Corporation	4.3% 2/15/21	770,000	804,469
	CDP Financial Inc	4.4% 11/25/19 144A	1,300,000	1,350,894
	CDP Financial Inc	3.15% 7/24 144A	1,765,000	1,805,194
	Celgene Corporation	3.55% 08/15/22	1,233,000	1,269,861
	CenterPoint Energy	2.50% 09/01/22	189,000	186,131
	CGDBB Commercial Mortgage Trust	1ML+79 7/28	2,080,000	2,082,589
	Charter Communications Operating	4.464% 7/23/22	3,445,000	3,593,900
	Charter Communications Operating	4.2% 03/15/28	640,000	633,498
	Chase Issuance Trust	13-A6 A6 1193476+0.42% 07	3,797,000	3,803,870
	Chase Issuance Trust	16-A1 A1 1Ml+0 05/21	3,900,000	3,915,623
	Chase Issuance Trust	2016-A2 A 1.37% 6/15/21	1,048,000	1,037,944
	Chase Issuance Trust	2016-A5 A5 1.27% 7/21	1,090,000	1,077,175
	Chase Issuance Trust	2017-A1 A 1ML+100 1/22	4,300,000	4,315,305
	Chevron Phillips Chemical	1.961% 3/20	375,000	373,660
	Chevron Phillips Chemical	2.45% 5/01/20 144A	347,000	347,003
	Cigna Corp	4% 2/15/22	1,670,000	1,743,889
	Cigna Corp	5.125% 6/15/20	1,350,000	1,432,137
	Cisco Systems	1.85% 9/20/21	1,000,000	981,306
	Citibank Credit Card Issuance Trust	13-A2 A2 1193476+0.28% 05	1,600,000	1,601,374
	Citibank Credit Card Issuance Trust	2014-A6 A6 2.15% 7/21	751,000	751,778
	Citibank Credit Card Issuance Trust	2016-A1 A1 0% 11/21	1,073,000	1,065,761
	Citibank Credit Card Issuance Trust	1.74% 01/21	1,086,000	1,083,577
	Citibank Credit Card Issuance Trust	1.92% 04/22	949,000	943,080
	Citibank Credit Card Issuance Trust	1.88% 8/8/22	3,781,000	3,745,594
	Citibank Credit Card Issuance Trust	1.8% 09/21	841,000	836,698
	Citigroup Commercial Mortgage Trust	3.024% 9/45	424,000	429,863
	Citigroup Commercial Mortgage Trust	3.093% 04/46	111,000	112,594
	Citigroup Commercial Mortgage Trust	2015-GC29 A2 2.674% 4/48	699,000	701,236
	Citigroup Commercial Mortgage Trust	3.199% 04/50	388,000	396,229
	Citigroup Commercial Mortgage Trust	2016-P4 A2 2.446% 7/49	197,000	196,377
	Citigroup Commercial Mortgage Trust	2014-GC21 A3 3.493% 5/47	2,620,000	2,678,026
	Citigroup Inc	4.4% 6/10/25	1,080,000	1,139,711
	Citigroup Inc	4.45% 9/29/27	965,000	1,021,350
	Citigroup Inc	3.7% 1/12/26	4,390,000	4,518,397
	Citigroup Inc	2.35% 8/02/21	1,000,000	988,996
	Citigroup Inc	2.45% 1/10/20	1,995,000	1,995,818
	Citigroup Inc	2.75% 04/25/2022	2,450,000	2,444,740
	Citigroup Inc	2.876/VAR 07/24/23	1,555,000	1,547,008
	Citigroup Inc	2.7% 10/27/2022	300,000	296,754

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Citigroup Inc	2.1% 06/12/20	2,320,000	2,304,679
	Citigroup Inc	2.55% 4/08/19	1,100,000	1,103,796
	Citizens Bank	2.3% 12/03/18	1,325,000	1,325,899
	Citizens Bank	2.55% 5/13/21	3,925,000	3,910,089
	Citizens Bank	2.65% 5/26/22	450,000	445,828
	Citizens Bank	2.45% 12/04/19	590,000	590,329
	Citizens Bank	2.375% 7/28/21	76,000	74,997
	Cityline Commercial Mortgage Trust	2016-Clne A Cstr 12/31	3,100,000	3,066,419
	Comcast Corp	1.625% 1/15/22	1,604,000	1,550,941
	Comcast Corp	5.875% 2/15/18	1,834,000	1,843,445
	Comerica Inc	2.125% 5/23/19	267,000	265,887
	COMM 13-CR12 A4	4.046% 10/46	3,600,000	3,823,465
	COMM 14-UBS6 ASB	3.387% 12/47	195,000	200,417
	COMM 15-CCRE24 A4	3.432% 8/55	4,300,000	4,419,528
	COMM 15-CR23 ABS	3.257% 05/48	266,000	272,291
	COMM 15-CR26 ABS	3.373% 10/48	222,000	228,974
	COMM 2010-C1 A3	4.205% 7/46	1,390,204	1,434,560
	COMM 2012-CR3 A3	2.822% 10/45	433,000	433,736
	COMM 2012-CR3 ABS	2.372% 11/45	508,853	507,605
	COMM 2012-LC4 A4	3.288% 12/44	937,000	953,965
	COMM 2013-CR12 A2	2.904% 10/46	1,310,000	1,316,859
	COMM 2013-CR6 A4	3.101% 03/46	496,000	502,784
	COMM 2013-CR7 A4	3.213% 03/46	690,000	703,998
	COMM 2013-CR7 ABS	2.739% 03/46	4,000,000	4,026,061
	COMM 2013-CR8 A2	2.367% 6/46	2,630,000	2,631,471
	COMM 2013-CR8 A5	3.612% 06/46	301,000	312,531
	COMM 2014-CR171 A2	3.012% 5/47	630,000	636,324
	COMM 2015-CR22 A2	2.856% 3/48	262,000	264,595
	COMM 2015-CR25 A3	3.505% 8/48	4,000,000	4,124,793
	COMM 2015-DC1 A4	3.078% 2/48	3,000,000	3,006,863
	COMM 2015-PC1 A3	3.725% 7/50	4,000,000	4,106,852
	Commonwealth Bank of Australia NY	2.3% 3/20	770,000	770,398
	Commonwealth Edison	3.4% 9/01/21	1,615,000	1,661,864
	Commonwealth Edison	2.95% 08/15/27	1,040,000	1,027,906
	Commonwealth Edison	2.15% 1/15/19	177,000	177,024
	Commonwealth NY	2.25% 3/13/19	889,000	889,503
	Commonwealth NY	2.4% 11/02/20	940,000	939,757
	Compass Bank	2.875% 6/29/22	1,337,000	1,322,851
	Concho Resources Inc	3.75% 10/01/27	660,000	668,422
	ConocoPhillip Co	2.2% 5/15/20	438,000	436,989

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Consolidated Edison	2% 5/15/21	311,000	306,219
	Corporacion Andina De Formento	2% 05/10/19	1,000,000	996,490
	Corporacion Andina De Formento	2.125% 9/27/21	1,220,000	1,193,014
	Corporacion Andina De Formento	2.75% 1/23	400,000	395,540
	Coventry Health	5.45% 6/15/21	300,000	324,741
	CPPIB Capital Inc	2.75% 11/02/27 1	750,000	747,735
	Credit Suisse	3.574% 1/23 144A	1,000,000	1,016,595
	Credit Suisse	3.45% 4/16/21	3,000,000	3,069,762
	Credit Suisse	3% 10/29/21	2,280,000	2,303,141
	CSAIL 2015-C2 ABS Commercial Mortgage Trust	3.2241% 6/57	227,000	231,110
	CSAIL 2017-CX9 A2 Commercial Mortgage Trust	2.884% 09/50	641,000	649,779
	CVS Caremark	2.25% 12/05/18	784,000	784,997
	CVS Health Corporation	2.8% 7/20/20	338,000	339,386
	CVS Health Corporation	3.5% 7/20/22	7,295,000	7,429,875
	CVS Health Corporation	2.125% 6/01/21	1,000,000	975,812
	Daimler Financial	1.875% 1/18 144A	950,000	949,966
	Daimler Financial	2.25% 3/20 144A	387,000	385,497
	Daimler Financial	2.45% 5/20 144A	3,250,000	3,247,345
	Daimler Financial	1.5% 7/05/19 144A	1,000,000	988,207
	Daimler Financial	2.3% 1/06/20 144A	1,000,000	997,693
	Daimler Financial	2.85% 1/6/22 144A	504,000	506,100
	Daimler Financial	2.3% 2/12/21 144A	500,000	495,715
	Danaher Corporation	2.4% 9/15/20	135,000	135,500
	DBUBS Mortgage Trust	2011-Lc2A A4 4.537% 7/44	735,000	774,089
	Deutsche Bank Ag	2.85% 5/10/19	1,060,000	1,063,441
	Deutsche Bank Ag	2.5% 2/13/19	913,000	912,565
	Deutsche Bank Ag	3.375% 5/12/21	1,760,000	1,776,063
	Deutsche Telecom	1.95% 9/21 144A	1,340,000	1,302,908
	Devon Energy Co	3.25% 5/15/22	2,150,000	2,186,712
	Dexia Credit	1.875% 9/15/21 144A	750,000	732,499
	Dexia Credit	2.25% 2/18/20 144A	2,250,000	2,244,711
	Diamond	1 Fi 3.48% 6/01/19 144A	1,785,000	1,807,202
	Digital Realty	3.4% 10/01/20	613,000	625,064
	Digital Realty	2.75% 2/1/23	312,000	309,213
	Discover	2% 2/21/18	3,675,000	3,675,252
	Discover	3.1% 6/20	1,247,000	1,261,722
	Discover	3.45% 7/27/26	250,000	246,721
	Discover	2.6% 11/13/18	500,000	501,694
	Discover	3.75% 3/04/25	1,190,000	1,197,589

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Discover Card Execution Note Trust	2012-A6 A6 1.67% 1/22	1,409,000	1,401,027
	Discover Card Execution Note Trust	2015-A2 A 1.90% 10/22	1,268,000	1,260,498
	Discover Card Execution Note Trust	2015-A4 A4 2.19% 4/23	550,000	549,584
	Discover Card Execution Note Trust	2016-A1 A1 1.64% 7/21	760,000	757,595
	Discover Card Execution Note Trust	16-A2 A2 1Ml+55 9/21	1,500,000	1,507,915
	Discover Card Execution Note Trust	1.85% 10/23	599,000	590,467
	Discover Card Execution Note Trust	2016-A4 A4 1.39% 3/15/22	873,000	862,283
	Discover Card Execution Note Trust	1ML+60 12/26	1,660,000	1,678,357
	Discover Card Execution Note Trust	1.88% 2/15/23	2,357,000	2,336,368
	Discovery Communication	3.95% 3/20/28	1,260,000	1,252,882
	Dominion Resources Inc	2.579% 7/1/20	785,000	785,277
	Dominion Resources Inc	2.5% 12/19	1,200,000	1,201,309
	Dominion Resources Inc	1.6% 8/15/19	262,000	259,091
	Dominion Resources Inc	6.4% 6/15/18	1,199,000	1,223,735
	Dominion Resources Inc	1.9% 6/15/18	400,000	399,958
	Dominion Resources Inc	2% 8/15/21	429,000	419,172
	Dow Chemical	3% 11/15/22	1,425,000	1,432,365
	Dr Horton Inc	2.55% 12/01/20	560,000	559,121
	Duke Energy	1.8% 9/01/21	245,000	238,274
	Duke Energy	2.1% 6/15/18	364,000	364,100
	Duke Energy	3.15% 8/15/27	2,340,000	2,322,380
	Duke Energy	3.75% 7/15/20	1,000,000	1,037,115
	Ecolab Inc	4.35% 12/08/21	628,000	668,375
	Edison International	2.4% 09/15/22	200,000	195,642
	Electronic Arts	3.7% 3/01/21	1,080,000	1,113,479
	Emera Us Finance LP	3.55% 6/15/26	645,000	646,680
	Enbridge Inc	2.9% 07/15/22	1,100,000	1,093,201
	ENEL Finance International N.V.	2.875% 5/25/22 144A	1,120,000	1,116,816
	EnLink Midstream	2.7% 4/01/19	660,000	659,358
	Enterprise Products	3.9% 2/15/24	2,035,000	2,120,064
	Enterprise Products	3.7% 2/26	105,000	107,487
	Enterprise Products	2.85% 4/15/21	323,000	325,664
	ERAC USA Finance	2.8% 11/01/18 144A	220,000	221,025
	ERAC USA Finance	3.85% 11/24 144A	225,000	233,031
	ERAC USA Finance	3.3% 10/22 144A	745,000	753,238
	Erp Operating Lp	4.625% 12/15/21	15,000	16,066
	Erp Operating Lp	2.375% 7/19	286,000	286,694
	Eversource Energy	2.5% 3/15/21	1,000,000	993,569
	Eversource Energy	2.8% 3/15/22	574,000	574,971
	Exelon Generation International Inc	2.85% 6/15/20	1,111,000	1,120,935

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Exelon Generation International Inc	44713	376,000	383,135
	Exelon Generation International Inc	4.25% 6/15/22	1,290,000	1,353,416
	Express Scripts	2.25% 6/15/19	2,010,000	2,006,569
	Express Scripts	3.05% 11/30/22	1,545,000	1,542,162
	Express Scripts	2.6% 11/20	500,000	499,500
	Exxon Mobil Corp	2.726% 3/01/23	632,000	636,384
	Exxon Mobil Corp	2.222% 3/01/21	810,000	808,063
	Fannie Mae	2014-M9 AB2 3.055% 7/24	2,070,781	2,076,837
	Fannie Mae	2015-M8 Ab2 2.829% Perp	3,700,000	3,708,553
	Fannie Mae	2016-M5 Ab2 2.375% 4/26	3,400,000	3,307,303
	Fannie Mae	2016-M3 Ab2 2.606% 2/26	2,951,564	2,887,004
	Fannie Mae	2016-M11 Ab2 2.183% 7/26	3,800,000	3,609,485
	Fannie Mae	2016-M12 Ab2 2.362% 9/26	5,800,000	5,584,097
	Fannie Mae	1.5% 11/30/20	638,000	628,577
	Fannie Mae	1% 12/31/19	1,673,000	1,656,785
	Fannie Mae	0.875% 8/02/19	674,000	663,129
	Fannie Mae	20YR 6.50% 7/18 #251825	2,098	2,111
	Fannie Mae	20YR 6.50% 11/18 #252104	5,438	5,519
	Fannie Mae	20YR 6.50% 3/19 #252348	5,389	5,487
	Fannie Mae	15YR 5.50% 4/18 #254686	2,729	2,735
	Fannie Mae	20YR 6.00% 9/21 #253999	12,458	13,893
	Fannie Mae	6.50% 10/21 #254044	2,424	2,666
	Fannie Mae	20YR 6.00% 11/22 #254544	22,207	24,764
	Fannie Mae	15YR 4.00% 9/18 #254919	4,873	4,903
	Fannie Mae	15YR 4.50% 11/18 #254952	71,121	71,674
	Fannie Mae	15YR 4.50% 12/18 #255031	68,927	69,530
	Fannie Mae	5.00% 8/25 #255810	321,894	345,865
	Fannie Mae	20YR 6.00% 10/27 #256928	111,905	124,792
	Fannie Mae	20YR 6.00% 1/28 #257048	92,198	102,816
	Fannie Mae	6.00% 2/28 #257076	86,340	96,283
	Fannie Mae	5.50% 11/34 #310105	358,809	397,217
	Fannie Mae	20YR 6.50% 12/21 #545419	870	956
	Fannie Mae	6.50% 7/32 #545759	19,278	21,892
	Fannie Mae	6.50% 7/32 #545762	9,667	10,975
	Fannie Mae	15YR 6.00% 3/18 #555390	5	5
	Fannie Mae	20YR 4.50% 5/26 #AH0473	15,299	16,277
	Fannie Mae	15Yr 3.5% 7/26#Ai7819	44,676	46,206
	Fannie Mae	15YR 5.50% 9/23 #AL0229	153,409	159,938
	Fannie Mae	15YR 5.50% 5/21 #AL0230	98,706	101,021
	Fannie Mae	15YR 3.50% 5/27 #AL1741	215,150	222,587

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Fannie Mae	15YR 3.50% 3/27 #AL1746	489,337	506,479
	Fannie Mae	15YR 3.50% 5/27 #AL1751	108,749	112,474
	Fannie Mae	15YR 3.50% 1/26 #AL1168	102,987	106,562
	Fannie Mae	2.5% 01/33#AL2982	206,221	206,253
	Fannie Mae	2.5% 01/33#AL2974	255,407	255,128
	Fannie Mae	2.5% 01/33#AL2975	289,912	289,958
	Fannie Mae	2.5% 01/33#AL2976	170,531	170,558
	Fannie Mae	15Yr 3.5% 9/29#Al5878	483,026	502,060
	Fannie Mae	15Yr 3.5% 10/29#Al5851	185,744	193,063
	Fannie Mae	15Yr 4.5% 11/25#Al8242	328,194	344,103
	Fannie Mae	15Yr 3% 9/31#Al8853	2,317,043	2,367,234
	Fannie Mae	15Yr 3.5% 12/29#As4198	737,557	765,469
	Fannie Mae	15Yr 3.5% 3/29#Av9229	628,819	650,356
	Fannie Mae	15Yr 3.5% 1/27 #Ax1909	203,904	210,888
	Fannie Mae	6.00% 4/25 #660719	57,302	60,205
	Fannie Mae	15YR 5.00% 3/18 #667792	1,230	1,233
	Fannie Mae	15YR 5.50% 1/18 #680143	5	5
	Fannie Mae	15YR 5.50% 2/18 #681383	72	72
	Fannie Mae	15YR 4.00% 9/18 #682450	739	744
	Fannie Mae	8.00% 6/27 #695533	7,457	8,636
	Fannie Mae	6.00% 3/33 #695584	9,182	10,296
	Fannie Mae	15YR 4.50% 5/18 #697602	2,838	2,845
	Fannie Mae	15YR 5.00% 5/18 #707298	35,128	35,284
	Fannie Mae	15YR 5.00% 6/18 #709848	2,961	2,974
	Fannie Mae	15YR 5.00% 6/18 #709877	1,466	1,473
	Fannie Mae	15YR 4.50% 6/18 #710238	2,184	2,194
	Fannie Mae	15YR 4.50% 7/18 #720393	4,759	4,781
	Fannie Mae	15YR 4.50% 5/19 #725445	4,015	4,065
	Fannie Mae	15YR 4.50% 4/19 #725352	31,570	31,936
	Fannie Mae	15YR 5.50% 4/19 #725528	6,034	6,105
	Fannie Mae	15YR 5.50% 9/19 #725793	1,801	1,833
	Fannie Mae	15YR 5.50% 9/19 #725796	3,432	3,506
	Fannie Mae	15YR 4.00% 7/18 #726128	2,432	2,443
	Fannie Mae	15YR 4.50% 8/18 #727466	2,988	3,005
	Fannie Mae	15YR 4.50% 8/18 #733772	10,671	10,732
	Fannie Mae	15YR 4.50% 12/19 #735290	8,874	9,001
	Fannie Mae	6.50% 11/22 #735137	31,360	34,487
	Fannie Mae	6.50% 12/32 #735415	9,625	10,927
	Fannie Mae	15YR 5.50% 3/20 #735521	3,799	3,877
	Fannie Mae	15YR 4.00% 12/18 #735522	18,673	18,790

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Fannie Mae	15YR 4.50% 10/20 #735926	2,850	2,915
	Fannie Mae	15YR 5.00% 11/18 #740462	4,214	4,254
	Fannie Mae	15YR 4.50% 3/19 #742078	21,056	21,319
	Fannie Mae	6.50% 7/35 #745092	10,649	12,138
	Fannie Mae	15YR 5.00% 11/18 #749596	16,023	16,192
	Fannie Mae	6.00% 9/33 #752786	22,501	25,131
	Fannie Mae	15YR 4.50% 3/19 #758528	21,143	21,348
	Fannie Mae	15YR 5.00% 4/19 #761326	11,508	11,681
	Fannie Mae	15YR 4.00% 6/19 #773153	9,780	10,058
	Fannie Mae	15YR 4.00% 7/19 #773445	22,909	23,559
	Fannie Mae	15YR 4.50% 4/19 #774267	5,761	5,838
	Fannie Mae	15YR 4.50% 5/19 #780233	29,901	30,302
	Fannie Mae	15YR 4.50% 7/19 #788390	1,643	1,667
	Fannie Mae	15YR 5.50% 10/19 #795064	2,845	2,910
	Fannie Mae	15YR 4.50% 10/19 #796680	47,551	48,399
	Fannie Mae	15YR 5.00% 12/19 #803919	35,315	36,132
	Fannie Mae	15YR 4.50% 2/20 #809744	1,822	1,857
	Fannie Mae	15YR 4.50% 11/20 #813915	3,017	3,089
	Fannie Mae	15YR 4.50% 10/20 #836381	8,397	8,608
	Fannie Mae	15YR 4.50% 7/21 #845515	2,604	2,681
	Fannie Mae	15YR 4.50% 1/21 #852735	511	524
	Fannie Mae	6.50% 8/36 #888034	13,743	15,592
	Fannie Mae	15YR 5.00% 12/21 #888436	101,330	103,673
	Fannie Mae	6.50% 8/36 #888544	51,448	58,485
	Fannie Mae	15YR 5.00% 12/18 #888681	15,504	15,631
	Fannie Mae	15YR 4.50% 12/18 #888889	16,252	16,329
	Fannie Mae	7.50% 11/37 #888892	109,226	129,734
	Fannie Mae	15YR 6.50% 1/23 #889111	163,727	174,147
	Fannie Mae	15YR 4.50% 3/21 #890081	55,525	56,269
	Fannie Mae	15YR 4.50% 11/19 #889395	551	558
	Fannie Mae	15YR 6.00% 2/23 #889634	219,360	231,259
	Fannie Mae	5.50% 2/37 #904918	46,643	50,490
	Fannie Mae	15YR 4.50% 7/21 #932885	95,901	97,897
	Fannie Mae	15YR 6.00% 6/22 #944357	94,087	99,529
	Fannie Mae	20YR 5.50% 7/27 #986156	218,543	239,570
	Fannie Mae	7.50% 11/38 #995504	94,535	113,033
	Fannie Mae	15YR 4.50% 12/20 #995320	221,267	225,702
	Fannie Mae	15YR 5.00% 12/20 #995324	165,498	169,903
	Fannie Mae	15YR 6.00% 1/24 #995425	140,999	149,884
	Fannie Mae	15YR 4.50% 12/20 #995465	43,446	44,482

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Fannie Mae	15YR 6.50% 2/24 #995658	46,983	50,629
	Fannie Mae	8.00% 11/37 #995783	13,936	15,384
	Fannie Mae	10YR 2.5% 10/22#AB6544	91,123	91,687
	Fannie Mae	10YR 2.5% 10/22#AB6730	73,343	73,806
	Fannie Mae	10YR 2.5% 5/23 #MA1431	198,262	199,547
	Fannie Mae	10YR 6.50% 12/37 #AD0070	61,433	66,574
	Fannie Mae	6.50% 9/28 #AD0329	89,940	99,704
	Fannie Mae	6.50% 12/35 #AD0723	59,011	66,980
	Fannie Mae	15YR 5.50% 3/24 #AE0467	46,250	48,670
	Fannie Mae	15YR 6.00% 3/24 #AE0745	96,685	102,018
	Fannie Mae	6.50% 8/36 #AE0746	43,692	49,651
	Fannie Mae	2.69% 9/41 #AH5260	90,702	93,843
	Fannie Mae	3.228% 7/41#AI3469	23,296	24,352
	Fannie Mae	3.01% 8/41 #AI4358	9,287	9,668
	Fannie Mae	3.545% 7/41#AI6050	29,777	31,426
	Fannie Mae	3.365% 10/41#AI6819	17,151	17,729
	Fannie Mae	3.37% 9/41 #AI8935	33,956	35,590
	Fannie Mae	9/41#AI9813	20,869	21,958
	Fannie Mae	10/41#AJ3399	12,426	12,966
	Fannie Mae	6/42#AO2244	37,070	38,287
	Fannie Mae	11/40#AE6806	9,041	9,454
	Fannie Mae	2001-44 PD 7% 9/31	7,409	8,560
	Fannie Mae	1992-205 Z 7% 11/22	48,236	52,291
	Fannie Mae	G93-3 K 7% 2/23	21,467	22,935
	Fannie Mae	1994-40 Z 6.5% 3/24	124,893	134,998
	Fannie Mae	6.625% 11/15/30	1,935,000	2,720,260
	Fannie Mae	1997-46 PL 6% 7/27	177,946	191,038
	Fannie Mae	2001-7 PF 7% 3/31	2,957	3,400
	Fannie Mae	2011-87 Ja 3% 6/25/40	1,404,911	1,416,738
	Fannie Mae	2011-123 Jg 2.5% 3/41	2,049,175	2,029,075
	Fannie Mae	2013-16 GP 3% 3/33	786,170	797,866
	Fannie Mae	2013-18 Md 1.75% 2/33	2,279,663	2,237,009
	Fannie Mae	2013-72 KE 3.5% 2/43	1,274,267	1,308,829
	Fannie Mae	2013-73 Tk 3.5% 9/42	942,985	969,287
	Fannie Mae	2013-130 Cg 4% 6/43	924,666	963,911
	Fannie Mae	2014-21 Ga 3% 4/39	2,062,671	2,064,203
	Fannie Mae	2014-64 Nk 3% 12/37	2,627,743	2,648,143
	Fannie Mae	2014-83 P 3% 6/43	663,639	669,155
	Fannie Mae	2015-7 Ga 3% 9/39	2,282,745	2,303,895
	Fannie Mae	2015-28 P 2.5% 5/45	1,396,507	1,383,104

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Fannie Mae	2015-28 Je 3% 5/45	943,527	954,634
	Fannie Mae	2015-42 Le 3% 6/45	819,238	829,081
	Fannie Mae	2016-26 Cg 3% 5/46	1,732,262	1,751,559
	Fannie Mae	2016-19 Ah 3% 4/46	670,918	678,654
	Fannie Mae	2016-25 Ha 3% 2/38	1,601,593	1,614,081
	Fannie Mae	2016-27 Hk 3% 1/41	880,508	889,873
	Fannie Mae	2016-27 Kg 3% 1/40	440,932	445,474
	Fannie Mae	2016-37 Bk 3% 6/46	1,827,311	1,847,736
	Fannie Mae	2016-34 Gh 3% 6/46	1,740,865	1,761,176
	Fannie Mae	2016-105 Pa 3.5% 4/45	908,683	936,407
	Fannie Mae	2016-100 P 3.5% 11/44	1,398,361	1,441,224
	Fannie Mae	3.5% 03/45	1,579,954	1,628,454
	Fannie Mae	3.5% 12/45	1,447,481	1,494,603
	Fannie Mae	3.5% 11/45	1,356,394	1,393,740
	Fannie Mae	3% 01/55	4,943,742	4,975,276
	Fannie Mae	3% 01/47	983,107	992,392
	Fannie Mae	03-66 PA 3.5% 2/33	82,634	83,030
	Fannie Mae	2003-57 NK 5% 6/18	905	909
	Fannie Mae	2004-2 QL 4% 2/19	97,490	97,967
	Fannie Mae	2004-91 AR 5.50% 4/33	292,733	294,871
	Fannie Mae	2007-77 MH 6% 12/36	11,809	11,961
	Fannie Mae	2009-10 AB 3/24	17,763	18,286
	Fannie Mae	2011-5 PA 4% 10/25	15,663	15,812
	Fannie Mae	4.5% 04/41	453,919	480,258
	Fannie Mae	2010-31 AP 4.5% 2/40	169,432	170,713
	Fannie Mae	2010-104 Pg 2.5% 11/39	2,320,645	2,304,026
	Fannie Mae	2010-68 Hj 4.5% 6/40	3,271,906	3,430,300
	Fidelity National	2.85% 10/15/18	1,095,000	1,101,640
	Fidelity National	3.625% 10/15/20	820,000	842,469
	Fifth Third Bank	2.6% 06/15/22	785,000	780,332
	Fifth Third Bank	1.45% 2/28/18	2,150,000	2,148,791
	Fifth Third Bank	2.375% 4/25/19	1,250,000	1,253,520
	Fifth Third Bank	2.03% 02/22	977,000	969,928
	FNW 2003-W4 2A	6.5% 10/42	9,853	10,792
	Ford Motor Credit Company	16-1 A 2.31% 8/27	324,000	322,926
	Ford Motor Credit Company	2016-3 A1 1.55% 7/21	1,198,000	1,187,242
	Ford Motor Credit Company	2.37% 09/22	838,000	834,792
	Ford Motor Credit Company	2.03% 12/20	939,000	935,175
	Ford Motor Credit Company	2015-C A3 1.41% 2/20	305,951	305,393
	Ford Motor Credit Company	1.67% 6/21	767,000	762,164

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Ford Motor Credit Company	1.69% 11/21	953,000	951,669
	Ford Motor Credit Company	2016-A A3 2.01% 7/20	653,936	651,788
	Ford Motor Credit Company	16-B A3 1.33% 10/20	1,768,000	1,759,706
	Ford Motor Credit Company	2014-2 A 2.31% 4/26	473,000	473,697
	Ford Motor Credit Company	15-2 A 2.44% 1/27	450,000	451,719
	Ford Motor Credit Company	2.62% 8/28	500,000	500,299
	Ford Motor Credit Company	3.336% 3/18/21	1,730,000	1,756,886
	Ford Motor Credit Company	1.897% 8/12/19	1,000,000	992,372
	Ford Motor Credit Company	2.681% 01/09/20	1,736,000	1,740,096
	Ford Motor Credit Company	5% 5/15/18	605,000	611,157
	Ford Motor Credit Company	4.25% 9/20/22	1,475,000	1,546,470
	Ford Motor Credit Company	2.459% 3/27/20	2,000,000	1,993,459
	Ford Motor Credit Company	3.339% 3/28/22	364,000	368,172
	Ford Motor Credit Company	2.375% 1/16/18	1,680,000	1,680,206
	Ford Motor Credit Company	4.134% 8/04/25	1,875,000	1,938,695
	Fortive Corp	1.8% 06/15/19	178,000	176,699
	Fortive Corp	2.35% 06/15/21	302,000	299,327
	Freddie Mac	6.00% 8/26 #G00587	24,650	26,990
	Freddie Mac	8.50% 7/28 #G00981	71,533	82,585
	Freddie Mac	5.50% 3/34 #G01665	65,907	72,946
	Freddie Mac	15YR 5.0% 4/20 #G11682	116,285	118,950
	Freddie Mac	15YR 5.50% 2/20 #G11728	346,821	354,542
	Freddie Mac	15YR 6.50% 4/18 #G11452	20	20
	Freddie Mac	15YR 4.50% 1/19 #G11565	5,222	5,266
	Freddie Mac	15YR 5.00% 5/18 #P10034	3,886	3,897
	Freddie Mac	20YR 6.00% 9/27 #G30357	124,635	138,988
	Freddie Mac	6.50% 5/22 #D95395	3,642	4,005
	Freddie Mac	15YR 4.00% 6/18 #E96973	3,763	3,777
	Freddie Mac	15YR 4.50% 8/18 #E98688	18,745	18,863
	Freddie Mac	15YR 4.50% 10/18 #E99833	22,775	22,942
	Freddie Mac	15YR 4.50% 9/18 #E99205	18,406	18,541
	Freddie Mac	15YR 5.00% 10/18 #E99955	2,569	2,592
	Freddie Mac	25YR 5.50% 7/35 #G05815	45,431	50,236
	Freddie Mac	15YR 5.00% 10/23 #G13276	127,079	133,281
	Freddie Mac	15YR 5.00% 12/18 #G13293	6,976	7,037
	Freddie Mac	15YR 6.00% 11/23 #G13368	36,606	38,373
	Freddie Mac	15YR 6.50% 7/21 #G12934	7,277	7,661
	Freddie Mac	15YR 5.00% 3/19 #G13052	26,377	26,607
	Freddie Mac	5.50% 1/24 #G13432	201,603	212,313
	Freddie Mac	15YR 5.50% 12/21 #G13481	102,037	106,067

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Freddie Mac	15YR 4.00% 7/24 #G13596	105,040	109,122
	Freddie Mac	15YR 5.00% 4/20 #G13598	33,375	33,821
	Freddie Mac	15YR 6.00% 1/24 #G13647	185,027	196,833
	Freddie Mac	15YR 6.00% 1/24 #G13982	164,585	173,176
	Freddie Mac	15YR 5.50% 12/24 #G14015	934,734	978,638
	Freddie Mac	15YR 4.00% 9/25 #G14376	89,263	92,795
	Freddie Mac	15YR 3.50% 10/26 #G14450	1,207,905	1,249,559
	Freddie Mac	15YR 2.5% 6/23#G14775	126,033	126,871
	Freddie Mac	15Yr 3.5% 8/30#G15273	575,896	595,575
	Freddie Mac	3.5% 11/47#G08788	7,511,366	7,719,482
	Freddie Mac	4% 11/47#G08789	7,349,021	7,697,107
	Freddie Mac	15YR 4.00% 6/24 #G18312	132,367	137,511
	Freddie Mac	6.50% 10/26 #C90995	121,103	134,275
	Freddie Mac	6.50% 8/26 #C90985	22,701	25,138
	Freddie Mac	20Yr 3.5% 6/32#C91456	853,812	887,908
	Freddie Mac	15YR 6.00% 4/20 #J02203	2,648	2,693
	Freddie Mac	15YR 6.50% 1/20 #J02204	5,326	5,435
	Freddie Mac	6.00% 8/28 #C13910	44,214	49,366
	Freddie Mac	15YR 5.50% 11/18 #E01497	14,011	14,184
	Freddie Mac	15YR 4.00% 9/25 #E02787	130,180	135,413
	Freddie Mac	15YR 4.00% 4/26 #E02867	69,952	73,027
	Freddie Mac	15YR 4.50% 11/18 #B10931	16,384	16,537
	Freddie Mac	15YR 5.50% 11/18 #B10916	24,606	24,911
	Freddie Mac	15YR 4.50% 10/18 #B12459	4,547	4,581
	Freddie Mac	15YR 4.50% 4/19 #B13051	5,626	5,699
	Freddie Mac	15YR 4.50% 6/19 #B14961	15,558	15,776
	Freddie Mac	15YR 2.5% 9/22#J20415	61,724	62,150
	Freddie Mac	15Yr 3% 5/29#J29409	1,510,395	1,542,759
	Freddie Mac	6.50% 9/23 #Z40030	1,377,260	1,492,288
	Freddie Mac	6.50% 5/24 #Z40034	1,653,029	1,797,733
	Freddie Mac	5.50% 5/34 #Z40042	498,859	551,094
	Freddie Mac	12M+187.9 10/42#849255	90,445	94,379
	Freddie Mac	2.98% 8/41 #1B8533	49,103	51,786
	Freddie Mac	3.07% 9/41 #1B8608	28,368	29,592
	Freddie Mac	3.717% 05/41#1B8124	26,416	27,688
	Freddie Mac	3.224% 4/41#1B8179	18,850	19,724
	Freddie Mac	3.464% 5/1/41#1B8304	19,675	20,615
	Freddie Mac	3.627% 6/1/41#1B8372	23,876	25,025
	Freddie Mac	3.283% 6/1/41	18,343	19,189
	Freddie Mac	3.242% 9/1/41#1B8659	20,042	20,924

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Freddie Mac	192 I 9% 2/22	35,495	37,649
	Freddie Mac	2344 ZJ 6.5% 8/31	4,454	5,073
	Freddie Mac	2420 MZ 6.5% 2/32	413,640	469,343
	Freddie Mac	2399 OH 6.5% 1/32	42,803	48,595
	Freddie Mac	1584 L 6.5% 9/23	48,477	52,197
	Freddie Mac	1577 PK 6.5% 9/23	12,207	13,082
	Freddie Mac	1617 PM 6.5% 11/23	38,736	41,796
	Freddie Mac	1837 Z 6.5% 4/26	31,757	34,484
	Freddie Mac	1835 D 6% 4/26	34,516	37,156
	Freddie Mac	2068 B 10% 11/22	5,700	6,285
	Freddie Mac	2075 PH 6.5% 8/28	33,559	37,335
	Freddie Mac	2208 PG 7% 1/30	54,051	62,321
	Freddie Mac	2262 Z 7.5% 10/30	29,773	34,812
	Freddie Mac	2010-3703 Cy 4% 8/25	2,646,950	2,735,544
	Freddie Mac	3803 EN 3.5% 2/24	1,592,881	1,609,178
	Freddie Mac	2011-3844 PJ 5% 1/40	409,578	424,367
	Freddie Mac	2011-3857 Ec 3.5% 8/39	1,130,524	1,160,203
	Freddie Mac	2012-4016 Ca 2% 7/41	1,224,247	1,205,086
	Freddie Mac	2012-4049 CA 3% 5/27	814,051	819,920
	Freddie Mac	4046 LA 3% 11/2026	655,167	662,110
	Freddie Mac	3.5% 06/38	2,601,366	2,654,401
	Freddie Mac	4189 Md 3.0% 6/33	889,945	897,942
	Freddie Mac	2013-4281 Lg 4% 1/43	748,681	779,606
	Freddie Mac	2014-4305 Ma 3% 8/38	2,542,926	2,565,869
	Freddie Mac	3% 12/39	4,629,667	4,666,242
	Freddie Mac	2014-4352 A 3% 4/40	779,754	787,144
	Freddie Mac	2014-4358 Da 3% 6/40	2,634,065	2,659,271
	Freddie Mac	2015-4441 Ak 3% 9/37	4,634,898	4,674,011
	Freddie Mac	3% 06/38	5,235,648	5,273,655
	Freddie Mac	2015-4472 Wl 3% 5/45	552,355	558,919
	Freddie Mac	2015-4482 Dh 3% 6/42	2,698,009	2,733,533
	Freddie Mac	2015-4502 Ga 3.5% 8/41	2,726,865	2,793,411
	Freddie Mac	3% 08/44	2,013,422	2,033,126
	Freddie Mac	2.5% 05/47	1,366,718	1,361,974
	Freddie Mac	3% 07/44	4,959,288	5,008,576
	Freddie Mac	2474 NR 6.5% 7/32	27,005	30,699
	Freddie Mac	2484 LZ 6.5% 7/32	49,667	56,493
	Freddie Mac	2527 TB 6% 11/32	17,970	20,122
	Freddie Mac	2558 BD 5% 1/18	9,789	9,785
	Freddie Mac	2590 BY 5% 3/18	42,475	42,558

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Freddie Mac	2650 QN 4.5% 1/33	1,506	1,507
	Freddie Mac	2672 NH 0% 9/18	15,733	15,812
	Freddie Mac	2872 JG 4.5% 10/19	91,644	92,771
	Freddie Mac	3397 FC 0.8613% 12/37	388,526	391,739
	Freddie Mac	2009-3534 Mb 4% 5/24	1,370,000	1,414,130
	Freddie Mac	3564 JA 4% 1/18	10,398	10,392
	Freddie Mac	2010-3747 HM 3% 7/37	422,515	423,556
	Freddie Mac	2012-4026 HA 3.5% 12/39	2,515,316	2,583,533
	Freddie Mac	2010-3747 HK 2.5% 7/37	483,089	483,411
	Freddie Mac	4221 CLS GA 1.4% 7/23	403,827	397,312
	FSPC T-54 2A	6% 2/43	76,024	86,758
	FSPC T-54 3A	7% 2/43	33,715	38,861
	Futures Cash Collateral	Futures Cash Collateral	430,000	430,000
	General Electric Capital	2.342% 11/15/20	1,676,000	1,668,148
	General Electric Capital	4.65% 10/17/21	160,000	172,243
	General Electric Capital	3.1% 1/09/23	649,000	659,076
	General Electric Capital	2.2% 1/09/20	224,000	223,760
	General Electric Capital	3.375% 3/11/24	786,000	809,718
	General Motors Financial	3.7% 5/09/23	1,800,000	1,835,598
	General Motors Financial	3.45% 1/14/22	2,135,000	2,163,569
	General Motors Financial	2.65% 4/13/20	603,000	603,091
	General Motors Financial	3.5% 11/24	780,000	778,227
	General Motors Inc	3.15% 06/30/22	520,000	519,529
	GM Financial Leasing Trust	2.01% 11/20	385,000	383,577
	GM Financial Leasing Trust	2015-2 A3 1.68% 12/18	162,391	162,360
	GM Financial Leasing Trust	2.02% 09/20	1,097,000	1,093,759
	GMF Floorplan Owner Revolving Trust	16-1 A1 1.86% 5/21	630,000	628,124
	GMF Floorplan Owner Revolving Trust	2.22% 1/22 144A	685,000	683,228
	GNII II	6.50% 9/29 #002808	190,801	217,418
	GNII II	5.50% 7/38 #004187	18,737	19,692
	GNII II	6.00% 11/38 #004285	28,029	30,199
	GNMA	20YR 6.50% 4/23 #593677	13,539	14,625
	GNMA	7.00% 8/28 #416611	23,602	27,019
	GNMA	7.00% 8/28 #458917	5,145	5,881
	GNMA	7.00% 7/28 #462643	64,397	74,327
	GNMA	7.00% 2/28 #462548	1,468	1,643
	GNMA	7.00% 10/28 #481353	67,317	78,177
	GNMA	6.50% 1/23 #530795	88,695	95,695
	GNMA	7.00% 5/32 #552576	13,584	15,821
	GNMA	8.00% 11/29 #186997	1,015	1,172

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	GNMA	15YR 4.50% 12/18 #781681	22,534	22,696
	GNMA	15YR 6.50% 6/20 #641437	12,147	12,602
	GNMA	2009-65 GL 4.5% 5/38	126,608	127,522
	GNMA	2002-33 ZD 6% 5/32	367,128	407,568
	GNMA	2008-47 PC 5% 11/16/37	884,789	909,325
	GNMA	2009-127 PL 4.25% 10/38	251,433	255,280
	GNMA	2010-47 CN 4.5% 8/38	115,037	115,954
	GNMA	2010-61 HD 3.5% 11/38	1,351,631	1,359,961
	GNMA	2010-73 CB 4.40% 8/35	280,297	282,828
	GNMA	2010-73 GA 4.5% 9/36	541,655	552,627
	GNMA	2010-68 LA 4.5% 3/38	253,258	255,269
	GNMA	2010-98 Ch 3% 10/39	462,277	465,730
	GNMA	2010-162 PQ 4.5% 6/39	171,235	174,364
	GNMA	2013-106 Pa 4% 2/43	1,993,070	2,074,773
	GNMA	2000-9 ZJ 8.5% 2/30	59,231	67,408
	Goldman Sachs	7.5% 2/15/19	163,000	172,252
	Goldman Sachs	3ML+110 11/18	170,000	171,052
	Goldman Sachs	3.85% 7/08/24	740,000	767,421
	Goldman Sachs	5.95% 1/18/18	665,000	666,049
	Goldman Sachs	6.15% 4/01/18	400,000	404,061
	Goldman Sachs	5.75% 1/24/22	1,580,000	1,751,757
	Goldman Sachs	2.75 9/15/20	2,000,000	2,009,858
	Goldman Sachs	2.625% 4/25/21	420,000	419,668
	Goldman Sachs	3.85% 01/26/27	4,715,000	4,839,459
	Goldman Sachs	2.908%/VAR 6/5/23	1,310,000	1,301,125
	Goldman Sachs	3.75% 2/25/26	800,000	820,667
	Goldman Sachs	2.3% 12/13/19	1,075,000	1,074,180
	Goldman Sachs	2.625% 1/19	1,060,000	1,064,507
	Goldman Sachs	2.6% 4/23/20	2,000,000	2,002,607
	Goldman Sachs	2.876%/VAR 10/22	2,220,000	2,213,394
	Goldman Sachs	5.25% 7/27/21	2,738,000	2,967,122
	Goldman Sachs	2.375% 1/22/18	495,000	495,101
	GSMS 14-GC18 AAB	3.648% 1/47	116,000	120,021
	GSMS 14-GC20 AAB	3.655% 4/47	134,000	138,369
	GSMS 15-GC28 AAB	3.206% 02/48	296,000	302,298
	GSMS 15-GC32 A3	3.498% 7/48	4,300,000	4,449,417
	GSMS 15-GC32 AAB	3.513% 7/48	285,000	294,574
	GSMS 2012-ALOH A	3.551 4/10/34	1,780,000	1,835,342
	GSMS 2012-GC6 A3	3.482% 01/45	439,341	452,013
	GSMS 2012-GCJ7 A4	3.377% 05/45	3,757,528	3,843,623

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	GSMS 2012-GCJ9 A3	2.773% 11/45	675,557	676,895
	GSMS 2012-GCJ9 AAB	2.368% 10/45	1,978,210	1,978,099
	GSMS 2013-GC10 A4	2.681% 02/46	176,000	175,517
	GSMS 2013-GC10 A5	2.943% 2/46	868,000	875,089
	Guardian Life Global	2% 4/21 144A	380,000	372,206
	Harot	1.68% 08/21	1,012,000	1,003,558
	Harot	1.79% 09/21	528,000	524,042
	Harot	2016-2 A3 1.39% 4/20	343,102	341,970
	Harot	1.72% 07/21	755,000	750,103
	Hart	2015-B A3 1.12% 11/19	1,020,148	1,017,485
	Hart	2016-B A3 1.29% 4/21	872,000	862,736
	Hart	2015-C A3 1.46% 2/20	406,465	405,633
	Hart	2016-A A3 1.56% 9/20	275,000	274,199
	Hart	1.77% 01/22	1,415,000	1,403,933
	Healthcare Trust	2.95% 07/22	658,000	656,183
	Hewlett Packard	Step 10/05/18	890,000	894,284
	HSBC Holdings	3.033/VAR 11/22/23	900,000	901,687
	HSBC Holdings	3.262/VAR 3/13/23	1,300,000	1,317,939
	HSBC Holdings	4.875% 1/22	675,000	726,174
	HSBC Holdings	2.95% 5/25/21	2,325,000	2,340,748
	HSBC Holdings	5.1% 4/05/21	360,000	386,759
	HSBC USA Inc	2.625% 9/24/18	1,610,000	1,616,850
	HSBC USA Inc	2.25% 6/23/19	659,000	658,903
	Hunt Auto	16-1 A3 1.57% 11/20	429,000	427,238
	Huntington Bancshares	2.3% 1/14/22	1,000,000	983,782
	Huntington Bancshares	2.6% 8/02/18	1,225,000	1,228,599
	Huntington Bancshares	2.375% 3/10/20	720,000	718,862
	Huntington Bancshares	2.5% 8/7/22	1,040,000	1,025,653
	Husky Energy	4% 4/15/24	1,000,000	1,044,412
	Hyundai Capital	1.625% 8/19 144A	1,345,000	1,315,897
	Hyundai Capital	2.6% 3/20 144A	380,000	376,881
	Hyundai Capital	2.55% 2/19 144A	890,000	888,374
	Hyundai Floorplan Master Owner Trust	2016-1A A2 1.81% 3/21	437,000	435,686
	Imperial Tobacco	2.95% 7/20 144A	2,000,000	2,019,174
	ING Group N.V.	3.15% 3/29/22	850,000	860,061
	Ingersoll-Rand	2.875% 1/15/19	160,000	160,818
	Intercontinental Exchange	2.75% 12/01/20	534,000	540,328
	International Lease Finance Group	7.125% 9/01/18 144A	1,941,000	2,002,847
	International Paper	4.75% 2/15/22	1,855,000	1,995,031
	ITC Holdings Corp	2.7% 11/22 144A	523,000	521,982

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Jackson National Life Global	2.25% 4/29/21	2,845,000	2,814,386
	Japan Bank International	1.5% 7/21/21	787,000	758,916
	Japan Bank International	2.25% 02/24/20	600,000	597,362
	Japan Bank International	2.125% 6/20	1,878,000	1,866,576
	Japan Bank International	2.125% 7/21/20	1,000,000	992,295
	Japan Finance Organization for Municipalities	2.625% 4/20/22 144A	1,200,000	1,192,905
	Japan Finance Organization for Municipalities	2.125% 10/23 144A	1,000,000	960,395
	Jefferies Group	6.875% 4/15/21	985,000	1,101,821
	John Deere Capital	3.9% 7/12/21	500,000	523,637
	John Deere Capital	2.8% 3/21	2,000,000	2,020,605
	Jordan Government	3% 6/30/25	790,000	813,014
	JP Morgan Chase & Co.	4.25% 10/15/20	2,050,000	2,149,311
	JP Morgan Chase & Co.	4.625% 5/10/21	1,400,000	1,494,597
	JP Morgan Chase & Co.	2.35% 1/28/19	820,000	821,557
	JP Morgan Chase & Co.	3.625% 5/13/24	1,340,000	1,393,054
	JP Morgan Chase & Co.	2.55% 10/29/20	400,000	401,148
	JP Morgan Chase & Co.	2.2% 10/22/19	870,000	869,080
	JP Morgan Chase & Co.	3.2% 1/25/23	1,000,000	1,019,856
	JP Morgan Chase & Co.	2.25%1/23/20	640,000	639,537
	JP Morgan Chase & Co.	2.75% 6/20	1,785,000	1,800,474
	JP Morgan Chase & Co.	3.2% 6/26	2,060,000	2,058,339
	JP Morgan Chase & Co.	2.95% 10/01/26	1,140,000	1,119,440
	JPM T 2013-C16 A2	3.07% 12/46	2,287,150	2,299,014
	JPMBB 13-C12 ASB	3.157% 07/45	1,780,000	1,807,667
	JPMBB 14-C22 ASB	3.5036% 09/47	356,000	367,110
	JPMBB 15-C27 A3A1	2.9202% 2/48	4,500,000	4,474,095
	JPMBB 15-C29 A2	2.8596% 5/48	379,000	382,784
	JPMBB 15-C32 A4	3.3293% 11/48	3,000,000	3,060,605
	JPMCC 12-C8 ASB	2.3791% 10/45	2,232,483	2,228,753
	JPMCC 13-C10 A5	3.1425% 12/47	745,000	759,167
	JPMCC 16-JP4 A2	2.9343% 12/49	507,000	512,949
	JPMCC 17-JP5 A3	3.3422% 03/50	2,100,000	2,130,646
	JPMCC 2012-C6 A3	3.5074% 5/45	305,022	314,735
	JPMCC 2012-C8 A3	2.8291% 10/45	479,748	482,118
	JPMCC 2015-JP1 A2	3.1438% 1/49	423,000	429,912
	Key Corp	5.1% 3/24/21	435,000	468,746
	Key Corp	2.9% 9/15/20	2,000,000	2,018,575
	KeyBank National	2.5% 12/15/19	307,000	307,868
	KeyBank National	1.65% 2/01/18	1,100,000	1,099,714

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	KeyBank National	2.25% 3/16/20	250,000	249,253
	KeyBank National	1.6% 8/22/19	384,000	379,765
	Kinder Morgan	2.65% 2/01/19	207,000	207,357
	Kinder Morgan	3.05% 12/01/19	392,000	395,389
	Kraft Foods	5.375% 2/20 WI	523,000	554,087
	Kraft Foods	3.5% 6/22 WI	980,000	1,002,668
	Kraft Heinz	3.95% 7/15/25	3,180,000	3,283,769
	Kraft Heinz	3% 6/01/26	400,000	384,808
	Kroger	2.8% 08/01/22	790,000	787,029
	Kroger	2.3% 1/15/19	350,000	350,269
	Kroger	3.3% 1/15/21	215,000	219,252
	Kroger	2% 1/15/19	1,000,000	998,144
	Laboratory Corp	3.2% 2/01/22	150,000	152,914
	LCCM 2017-LC26 A2	3.128% 07/50	3,950,000	4,023,592
	LG&E & Ku Energy Llc	3.75% 11/20	1,250,000	1,289,548
	Liberty Mutual	5% 6/01/21 144A	390,000	417,070
	Liberty Mutual	4.95% 5/22 144A	930,000	1,003,388
	Lincoln National	6.25% 2/15/20	1,350,000	1,453,650
	LyondellBasell Industries	5% 4/15/19	974,000	999,967
	Macquarie	3.189/VAR 11/23 144A	1,545,000	1,534,247
	Macys Retail	3.875% 1/15/22	270,000	271,677
	Manitoba Provence	2.125% 6/26	100,000	94,034
	Manufacturers & Traders Trust Company	2.3% 1/30/19	450,000	450,345
	Manufacturers & Traders Trust Company	2.5% 5/18/22	500,000	497,785
	Manufacturers & Traders Trust Company	2.1% 2/06/20	600,000	597,987
	Marathon Petrol	2.7% 12/14/18	515,000	516,847
	Markel Corp	7.125% 9/30/19	1,300,000	1,400,940
	Marriott Intl	3% 3/01/19	2,440,000	2,456,496
	Marsh & Mclennan	2.35% 3/06/20	550,000	549,656
	Marsh & Mclennan	2.75% 1/30/22	377,000	377,716
	MassMutual	2.45% 11/23/20 144A	750,000	751,008
	MassMutual	2.35% 4/19 144A	890,000	891,728
	MBART 2016-1 A3	1.26% 2/21	830,000	824,307
	Mcdonalds	2.75% 12/20	74,000	74,762
	Mcdonalds	2.625% 1/15/22	530,000	531,029
	Mckesson Corp	2.284% 3/15/2019	614,000	614,070
	Mckesson Corp	4.75% 3/01/21	425,000	450,390
	Medtronic Inc	2.5% 3/15/20	790,000	794,630
	Medtronic Inc	3.5% 3/15/25	5,515,000	5,719,632
	Merrill Lynch	6.875% 4/25/18	342,000	347,224

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	MetLife	2.3% 4/10/19 144A	890,000	891,165
	MetLife	7.717% 2/15/19	2,500,000	2,656,121
	MetLife	1.5% 1/18 144A	145,000	144,984
	MetLife	2% 4/20 144A	750,000	744,211
	MetLife	2.65% 4/22 144A	750,000	749,777
	Mitsubishi UFJ Financial Corp	2.19% 9/13/21	500,000	490,899
	Mitsubishi UFJ Financial Corp	2.45% 10/16/19 144A	1,575,000	1,577,316
	Mitsubishi UFJ Financial Corp	2.998% 2/22	436,000	438,718
	Mitsubishi UFJ Financial Corp	2.25% 2/20	1,703,000	1,693,658
	Mitsubishi UFJ Financial Corp	2.665% 07/25/22	780,000	772,533
	Mitsubishi UFJ Financial Corp	3.75% 3/10/24 144A	1,290,000	1,346,070
	Mizuho Bank Limited	2.45% 4/19 144A	450,000	450,294
	Mizuho Financial Group	2.632% 04/21 144A	1,000,000	997,083
	Mizuho Financial Group	2.273% 9/13/21	500,000	490,822
	Mizuho Financial Group	2.953% 2/22	500,000	501,135
	Mondelez	1.625% 10/28/19 144A	2,230,000	2,197,567
	Moodys Corp	2.75% 12/15/21	107,000	107,122
	Morgan Stanley	5.5% 1/26/20	1,360,000	1,441,127
	Morgan Stanley	2.75% 05/19/22	850,000	846,774
	Morgan Stanley	3.971/VAR 7/38	165,000	170,727
	Morgan Stanley	3.75% 2/25/23	1,795,000	1,860,003
	Morgan Stanley	2.5% 4/21/21	2,340,000	2,335,858
	Morgan Stanley	3.625% 01/20/27	2,540,000	2,598,840
	Morgan Stanley	5.75% 1/25/21	3,070,000	3,345,199
	Morgan Stanley	5.5% 7/28/21	525,000	574,208
	Morgan Stanley	2.65% 1/27/20	2,100,000	2,109,368
	Morgan Stanley	3.125% 7/27/26	1,420,000	1,400,205
	Morgan Stanley	2.8% 6/16/20	4,000,000	4,035,832
	Morgan Stanley	3.7% 10/23/24	350,000	361,585
	Morgan Stanley	2.5% 1/24/19	1,330,000	1,333,299
	Mosaic Co New	4.25% 11/15/23	2,275,000	2,355,440
	MPLX LP	4.125% 03/01/27	380,000	389,104
	MSBAM 13-C13 ASB	3.557% 11/46	655,000	675,473
	MSBAM 15-C22 ASB	3.04% 4/15/48	200,000	202,881
	MSBAM 2012-C6 A4	2.858% 11/45	948,000	952,237
	MSBAM 2013-C11 A4 CSTR	8/46	228,000	243,048
	MSBAM 2013-C7 A4	2.918% 2/46	616,000	621,198
	MSBAM 2013-C8 A4	3.134% 12/48	703,000	715,283
	MSBAM 2014-C14 A2	2.916% 1/47	673,487	678,333
	MSBAM 2014-C16 ASB	3.477% 6/47	469,000	482,414

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	MSBAM 2014-C17 ASB	3.477% 8/47	591,000	608,052
	MSBAM 2015-C21 A3	3.077% 3/48	2,000,000	2,009,328
	MSBAM 2015-C21 ASB	3.15% 03/48	118,000	120,017
	MSBAM 2016-C29 A1	1.597% 5/49	379,042	375,266
	MSC 2011-C3 A3	4.054% 7/49	48,988	50,211
	MSC 2015-MS1 A3	3.51% 5/48	3,500,000	3,621,448
	Mylan N.V.	2.5% 06/07/19	811,000	810,089
	NA Development Bank	4.375% 2/11/20	2,100,000	2,188,024
	NALT 2017-A A3	1.91% 04/20	890,000	886,802
	NALT 2017-B A3	2.05% 09/20	504,000	502,740
	NAROT 2015-A A3	1.05% 10/19	573,040	571,917
	NAROT 2016-B A3	1.32% 1/15/21	1,474,000	1,463,808
	NAROT 2016-C A3	1.18% 1/21	776,000	768,013
	NAROT 2017-A A3	1.74% 08/21	858,000	852,781
	NAROT 2017-B A3	1.75% 10/21	2,095,000	2,079,309
	National Australian Bank	2.625% 1/14/21	1,635,000	1,641,937
	National Rural Utilities	2.3% 11/01/20	2,500,000	2,497,422
	Nationwide	2.45% 7/27/21 144A	1,250,000	1,239,798
	NAVSL 2016-6A A1	1Ml+48 3/66	769,720	771,069
	NAVSL 2017-1A A1	1ML+40 7/66	1,170,627	1,171,893
	New York City Transitional Finance Authority (TFA)	2.85% 02/01/24	210,000	210,355
	New York City Transitional Finance Authority (TFA)	2.05% 08/01/23	225,000	217,530
	New York Life	1.95% 2/20 144A	1,000,000	993,453
	New York State Urban Development Corporation	2.67% 03/15/23	525,000	523,115
	New York State Urban Development Corporation	2.7% 03/15/23	915,000	913,033
	Newell Rubbermaid	4.2% 4/01/26	535,000	558,619
	Nextera Energy	1.649% 9/01/18	167,000	166,517
	Nisource Inc	2.65% 11/17/22	2,125,000	2,108,675
	Nissan	2.15% 07/13/20 144A	715,000	709,491
	Nissan	1.5% 3/18 144A	1,265,000	1,264,265
	Nissan	2.15% 09/20 144A	925,000	917,289
	Nissan	2.25% 1/20 144A	1,070,000	1,068,018
	NMOTR 2016-A A2	1.54% 6/21	452,000	448,184
	Noble Energy Inc	3.9% 11/15/24	1,500,000	1,541,935
	Noble Energy Inc	4.15% 12/15/21	1,605,000	1,672,267
	Nomura Holdings	2.75% 3/19/19	975,000	982,216
	Nordea Bank AB	2.375% 4/4/19 144	660,000	661,490
	Norfolks South	3.25% 12/01/21	20,000	20,491

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Northrop Grumman	2.55% 10/15/22	1,090,000	1,082,085
	OBP 2010-OBP A	4.6462% 7/45	2,445,000	2,556,455
	Oneok Inc	4% 07/13/27	590,000	597,812
	Oneok Inc	3.375% 10/01/22	1,145,000	1,152,877
	Oneok Inc	3.2% 9/15/18	65,000	65,378
	Ontario Province	2.25% 05/18/22	505,000	499,652
	Ontario Province	1.25% 06/19	620,000	612,331
	Ontario Teachers	3.125% 03/20/22	565,000	572,468
	Oracle Corp	1.9% 9/15/21	5,725,000	5,634,038
	People's United	3.65% 12/06/22	995,000	1,018,682
	People's United	4% 7/15/24	405,000	408,957
	Pepsico Inc	1.7% 10/06/2021	1,000,000	975,291
	PG&E Corp	2.4% 3/01/19	67,000	67,035
	Philip Morris	2.375% 8/17/22	745,000	733,966
	Philip Morris	1.875% 2/21	1,294,000	1,270,222
	Philip Morris	1.875% 1/15/19	450,000	449,130
	Plains All American Pipeline	2.85% 1/31/23	800,000	765,392
	Plains All American Pipeline	4.5% 12/26	800,000	810,747
	PNC Bank	3.25% 6/01/25	2,150,000	2,181,577
	PNC Bank	2.15% 4/29/21	1,000,000	991,008
	PNC Bank	2.55% 12/09/21	500,000	499,692
	PNC Bank	6.875% 4/01/18	250,000	253,010
	PNC Bank	2.95% 1/30/23	1,040,000	1,046,748
	PNC Bank	3.8% 7/25/23	460,000	480,368
	PNC Bank	4.375% 8/11/20	1,200,000	1,260,839
	PPL Capital Funding Inc	3.5% 12/01/22	405,000	416,345
	Pricoa Global	2.45% 9/21/22 144A	626,000	620,294
	Principal Financial Group	1.5% 4/18/19 144A	225,000	223,042
	Principal Financial Group	2.2% 4/20 144A	1,355,000	1,349,758
	Principal Financial Group	3.3% 9/15/22	460,000	467,825
	Private Export Funding	1.875% 7/15/18	205,000	205,189
	Private Export Funding	2.3% 9/15/20	4,010,000	4,022,014
	Private Export Funding	2.45 7/15/24	290,000	288,577
	Progress Energy Inc	4.875% 12/01/19	1,500,000	1,568,791
	Protective Life Global	2.161% 9/20 144A	500,000	494,562
	Pt Holdings Co Inc (Unlisted)	—	525	—
	Public Service Company of Oklahoma	5.15% 12/01/19	27,000	28,270
	Public Service Electric and Gas Company	2.65% 11/22	577,000	571,845
	Public Service Enterprise	2% 11/15/21	293,000	286,007
	Quebec Province	2.375% 1/31/22	800,000	797,016

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	Quebec Province	2.75% 4/12/27	1,260,000	1,249,198
	Quebec Province	7.14% 2/27/26	630,000	790,259
	Reckitt Benckiser	2.375% 6/24/22 144A	1,000,000	980,261
	Regions Financial Corp	3.2% 2/08/21	1,000,000	1,017,371
	Regions Financial Corp	2.75% 8/22	1,407,000	1,402,389
	Reliance Std Lf	2.5% 1/15/20	2,745,000	2,744,979
	Reynolds American	3.25% 6/20	504,000	512,079
	Reynolds American	4% 6/12/22	257,000	268,488
	Rockwell Collins	2.8% 3/15/22	860,000	861,110
	Roper Industries	2.05% 10/01/18	609,000	608,907
	Roper Technologies	3% 12/15/20	750,000	758,869
	Roper Technologies	2.8% 12/15/21	651,000	652,074
	Royal Bank of Canada	1.5% 7/29/19	1,000,000	988,470
	Royal Bank of Canada	2.15% 10/20	1,070,000	1,063,013
	Royal Bank of Canada	2.35% 10/30/20	300,000	299,909
	Royal Bank of Canada	2.15% 3/15/19	450,000	449,985
	Royal Bank of Scotland	3.498/VAR 5/23	1,025,000	1,027,108
	Ryder System Inc	2.5% 09/01/22	395,000	387,854
	Ryder System Inc	2.35% 2/19	1,480,000	1,481,287
	San Diego G&E	3% 8/15/21	500,000	510,970
	Santander UK	2.875% 10/16/20	1,500,000	1,504,958
	Santander UK	3.125% 1/8/21	1,025,000	1,034,641
	Select Income REIT	2.85% 2/18	339,000	339,000
	Sempra Energy	2.4% 3/15/20	445,000	444,718
	Sempra Energy	1.625% 10/07/19	707,000	698,113
	SES Global	2.5% 3/19 144A	675,000	672,477
	Shell International	2.25% 11/10/20	550,000	549,811
	Shell International	2.125% 5/20	571,000	569,777
	Shire Acquisitions Investments Ireland Limited	2.4% 9/23/21	3,070,000	3,021,355
	Simon Property	2.35% 1/30/22	175,000	173,319
	Simon Property	3.375% 3/15/22	170,000	174,468
	Simon Property	2.75% 06/01/23	690,000	687,791
	Skandinaviska Enskilda Banken AB	2.375% 3/25/19 144A	1,890,000	1,894,241
	Southern Company	2.35% 7/01/21	1,500,000	1,490,948
	SP Powerassets LTD	3% 9/26/27 144A	1,150,000	1,135,938
	SRT 2017-A A3	2.58% 01/21	820,000	817,615
	SSTRT 17-1A A3	1.89% 8/20	753,000	750,839
	SSTRT 17-2A A3	2.04% 4/21 144A	501,000	497,934
	SSTRT 2016-1A A3	1.76% 3/20	481,000	479,078
	STAT 15-1A A3	1.42% 9/19	598,923	598,682

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	State Street Corp	2.653/VAR 5/23	690,000	690,113
	State Street Government Short Term Investments Fund	—	13,020,702	13,020,702
	Stifel Financial Corp	4.25% 7/18/24	1,680,000	1,720,497
	Sumitomo Mitsui Banking Corp	2.784% 7/22	1,295,000	1,287,436
	Sumitomo Mitsui Banking Corp	2.25% 7/11/19	785,000	784,647
	Sumitomo Mitsui Banking Corp	2.45% 1/16/20	1,950,000	1,950,515
	Sumitomo Mitsui Banking Corp	2.45% 1/10/19	1,235,000	1,237,698
	Sumitomo Mitsui Banking Corp	2.846% 01/11/22	1,000,000	1,001,870
	Sumitomo Mitsui Banking Corp	2.05% 3/19 144A	1,100,000	1,097,069
	Sumitomo Mitsui Banking Corp	2.778% 10/22	575,000	570,991
	Sumitomo Mitsui Banking Corp	1.95% 09/19/19 144A	745,000	738,970
	Suntrust Banks Inc	2.35% 11/01/18	1,230,000	1,233,313
	Suntrust Banks Inc	2.7% 1/27/22	1,500,000	1,499,772
	Swedish Export Credit Corp	1.75% 3/10/21	2,085,000	2,051,561
	Swiss Re Treasury (US) Corp	2.875% 12/22 144A	580,000	580,713
	Synchrony Bank	3% 6/15/22	1,130,000	1,125,256
	Synchrony Financial	2.7% 2/03/20	805,000	806,970
	Synchrony Financial	3.75% 8/15/21	640,000	656,198
	SYNCT 2015-1 A	2.37% 3/23	748,000	750,311
	SYNCT 2015-3 A	1.74% 9/21	750,000	749,078
	TAOT 2015-C A3	1.34% 6/19	1,526,234	1,524,350
	TAOT 2016-A A3	1.25% 3/20	2,346,279	2,337,288
	TAOT 2016-B A3	1.51% 4/20	1,381,335	1,376,148
	TAOT 2016-C A3	1.14% 8/20	493,000	489,676
	TAOT 2017-B A3	1.76% 07/21	2,245,000	2,230,202
	TAOT 2017-C A3	1.78% 11/21	1,040,000	1,032,228
	Tennessee Valley Authority	2.875% 02/01/27	290,000	295,434
	Tennessee Valley Authority	7.125% 5/01/30	130,000	187,370
	The Emirate of Abu Dhabi	3.125% 10/27 144A	2,790,000	2,727,950
	The Travelers Companies, Inc	5.8% 5/15/18	35,000	35,492
	Thermo Fisher	2.4% 2/01/19	2,081,000	2,085,931
	Thermo Fisher	2.15% 12/14/18	189,000	189,258
	Time Warner Cable	8.75% 2/14/19	1,600,000	1,705,846
	Time Warner Inc	4.75% 3/29/21	1,149,000	1,222,884
	Time Warner Inc	3.8% 2/15/27	825,000	823,988
	Time Warner Inc	4% 1/15/22	15,000	15,617
	TJX Companies, Inc	2.75% 6/15/21	411,000	416,736
	Toronto Dominion Bank	2.125% 4/07/21	1,000,000	990,381
	Total Capital International	2.875% 2/17/22	13,000	13,177
	Total Capital International	2.125% 1/10/19	1,400,000	1,401,308

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal		Current Value
	Total Capital International	2.75% 6/19/21	430,000		434,247
	Toyota Motor Corp	2.6% 1/11/22	1,000,000		1,005,255
	Transcanada	2.5% 8/1/22	800,000		794,810
	Transcanada	2.125% 11/15/19	840,000		837,015
	UBS	2.45% 12/01/20 144A	2,075,000		2,068,746
	UBS	2.375% 8/14/19	1,885,000		1,886,360
	UBS	4.125% 09/25 144A	1,350,000		1,416,418
	UBS	2.859/VAR 08/23 144A	1,315,000		1,299,795
	UBSBB 2012-C2 A4	3.525% 5/63	447,000		461,669
	United Parcel Services	5.125% 4/01/19	2,100,000		2,177,911
	UnitedHealth Group	2.7% 7/15/20	303,000		306,483
	UnitedHealth Group	2.125% 3/15/21	600,000		595,528
	UnitedHealth Group	3.45% 1/27	1,020,000		1,054,853
	UnitedHealth Group	2.875% 12/15/21	400,000		405,046
	UnitedHealth Group	4.7% 2/21	2,150,000		2,286,014
	US 10yr Note Future	(CBT) MAR18 TYH8	(84	)	(17,063	)
	US 10yr Ultra Future	10YR ULTRA FUT MAR18 UXYH8	(26	)	(7,313	)
	US 2yr Note Future	(CBT) MAR18 TUH8	548		34,251
	US 5yr Note Future	(CBT) MAR18 FVH8	400		37,500
	US Long Bond Future	(CBT) MAR18 USH8	(168	)	(47,250	)
	US Treasury Bill	0% 05/24/18	300,000		298,289
	US Treasury Bond	2.875% 5/15/43	595,000		611,153
	US Treasury Bond	3.625% 08/15/43	615,000		717,038
	US Treasury Bond	3% 05/15/45	850,000		891,696
	US Treasury Bond	2.875% 8/15/45	85,000		87,076
	US Treasury Bond	3% 02/15/47	875,000		919,207
	US Treasury Bond	2.75% 08/15/47	1,800,000		1,800,227
	US Treasury Bond	4.25% 11/15/40	1,110,000		1,408,395
	US Treasury Bond	1.875% 09/30/2022	4,275,000		4,212,532
	US Treasury Bond	2.125% 11/30/24	7,010,000		6,916,308
	US Treasury Bond	1.875% 12/15/20	15,020,000		14,975,422
	US Treasury Bond	1.875% 12/31/19	8,430,000		8,426,276
	US Treasury Bond	1.25% 11/30/18	68,670,000		68,332,865
	US Treasury Bond	1.5% 12/31/18	55,230,000		55,053,331
	US Treasury Bond	1.5% 1/31/19	36,305,000		36,170,224
	US Treasury Bond	2.375% 8/15/24	2,885,000		2,893,567
	US Treasury Bond	2.125% 9/30/21	66,685,000		66,722,346
	US Treasury Bond	2.125% 12/31/22	5,615,000		5,590,856
	US Treasury Bond	1.375% 5/31/21	20,250,000		19,792,969
	US Treasury Bond	1.125% 6/30/21	3,075,000		2,977,736

Table of Contents

Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	US Treasury Bond	0.75% 7/15/19	26,466,000	26,018,355
	US Treasury Bond	1.125% 7/31/21	934,200	903,338
	US Treasury Bond	1.25% 12/31/18	9,505,000	9,451,948
	US Treasury Bond	1.75% 05/15/23	330,000	321,811
	US Treasury Bond	2.125% 06/30/2021	3,825,000	3,832,205
	US Treasury Bond	0.125% 04/15/22	1,175,000	1,184,060
	US Treasury Bond	1.875% 04/30/22	24,156,000	23,865,212
	US Treasury Bond	1.75% 05/31/22	980,000	962,837
	US Treasury Bond	1.25% 06/30/19	14,695,000	14,563,602
	US Treasury Bond	2% 06/30/24	7,000,000	6,864,429
	US Treasury Bond	1.5% 7/15/20	2,693,000	2,663,885
	US Treasury Bond	1.625% 08/31/22	15,000,000	14,627,418
	US Treasury Bond	1.375% 09/15/20	14,340,000	14,134,153
	US Treasury Bond	1.625% 10/15/20	880,000	872,117
	US Treasury Bond	1.75% 11/15/20	23,605,000	23,467,464
	US Treasury Bond	1.375% 2/29/20	2,150,000	2,125,461
	US Treasury Bond	1.75% 3/31/22	22,365,000	21,996,328
	US Treasury Bond	1.375% 3/31/20	14,880,000	14,703,812
	US Treasury Bond	1.375% 4/30/20	7,086,000	6,997,414
	US Treasury Bond	1% 9/15/18	410,000	408,010
	US Treasury Bond	2% 11/30/22	11,775,000	11,666,169
	US Treasury Bond	1.75% 12/31/20	16,000,000	15,887,570
	US Treasury Bond	1.375% 1/31/21	17,300,000	16,968,961
	US Treasury Bond	2.625% 11/15/20	1,265,000	1,287,721
	US Treasury Bond	1.375% 4/30/21	46,585,000	45,573,587
	US Treasury Bond	1.25% 10/31/21	1,075,000	1,041,339
	US Treasury Bond	0.75% 10/31/18	9,135,000	9,059,530
	US Treasury Bond	1.75% 11/30/21	1,940,000	1,912,828
	US Treasury Bond	2% 12/31/21	7,330,000	7,292,337
	US Treasury Bond	1.375% 01/15/20	4,140,000	4,096,777
	US Treasury Bond	1% 5/31/18	790,000	788,395
	US Treasury Bond	1.375% 02/15/20	4,990,000	4,934,405
	US Treasury Bond	1.625% 03/15/20	15,235,000	15,140,275
	US Treasury Bond	1.875% 03/31/22	10,000,000	9,886,326
	US Treasury Bond	1.625% 6/30/2019	9,524,000	9,490,177
	US Treasury Bond	1.5% 4/15/20	6,054,100	5,997,086
	US Treasury Bond	1.5% 05/15/20	25,464,000	25,217,319
	US Treasury Bond	2.125% 5/15/25	2,495,000	2,456,264
	US Treasury Bond	2.125% 6/30/22	730,000	728,587
	US Treasury Bond	1.625% 7/31/20	12,000,000	11,906,385

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
	US Treasury Bond	1.5% 06/15/20	18,690,000	18,499,531
	US Ultra Bond Future	(CBT) MAR18 WNH8	18	7,875
	USAA Capital	2% 6/01/21 144A	1,000,000	980,864
	USAOT 2017-1 A3	1.79% 05/21	727,000	722,737
	Vende	1994-1 2ZB 6.5% 2/24	176,041	189,544
	Ventas Realty	2% 2/15/18	320,000	319,982
	Verizon	3.376% 02/15/25 144A	687,000	689,435
	Verizon	4.6% 4/01/21	1,000,000	1,063,758
	Verizon	3.5% 11/01/21	995,000	1,024,484
	Verizon	3.45% 3/15/21	325,000	334,875
	Verizon	1.75% 8/15/21	1,496,000	1,455,666
	Verizon	2.946% 03/15/22	1,350,000	1,358,060
	Virginia Electric & Power Co.	2.95% 1/15/22	340,000	344,151
	Volkswagen	2.125% 11/18 144A	600,000	599,495
	Volkswagen	2.4% 5/20 144A	300,000	299,105
	Wachovia Corp	5.75% 2/01/18	2,000,000	2,006,200
	Watson Pharma Inc	3.25% 10/01/22	700,000	702,067
	Wells Fargo	2.5% 3/04/21	2,500,000	2,498,625
	Wells Fargo	3% 1/22/21	844,000	855,947
	Wells Fargo	2.6% 7/20	500,000	503,045
	Wells Fargo	2.55% 12/07/20	1,080,000	1,084,292
	Wells Fargo	2.918% 10/45	947,281	954,736
	Western Gas Partners	4% 7/01/22	395,000	402,922
	Westpac Banking	2.6% 11/20	2,580,000	2,590,282
	Westpac Banking	1.6% 8/19/19	1,000,000	989,510
	Westpac Banking	2.8% 1/11/22	1,000,000	1,006,958
	WFCM 15-LC20 A3	3.086% 4/50	4,800,000	4,868,589
	WFCM 2012-LC5 ASB	2.528% 10/45	306,906	307,736
	WFCM 2013-LC12 A1	1.676% 7/46	206,359	206,117
	WFCM 2015-C27 ASB	3.278% 2/48	486,000	496,884
	WFCM 2016-C34 A2	2.741% 5/49	474,000	473,745
	WFCM 2016-C35 A2	2.495% 7/48	158,000	157,302
	WFCM 2016-C37 A2	3.03% 12/49	357,000	362,265
	WFCM 2016-LC25	1.795% 12/15/59	261,357	258,403
	WFRBS 13-C12 ASB	2.838% 3/48	90,000	90,782
	WFRBS 13-C16 ASB	3.963% 9/46	191,000	198,532
	WFRBS 14-C20 ASB	3.638% 05/47	230,000	237,876
	WFRBS 14-C23 ASB	3.636% 10/57	272,000	282,453
	WFRBS 2011-C3 A4	4.375% 3/44	569,000	596,250
	WFRBS 2012-C7 A2	3.431% 6/45	363,000	372,787

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal		Current Value
	WFRBS 2012-C8 A2	1.881% 8/45	29		29
	WFRBS 2012-C9 A3	2.87% 11/45	512,000		515,422
	WFRBS 2012-C9 ASB	2.445% 11/45	2,897,655		2,901,303
	WFRBS 2013-C11 A5	3.071% 03/45	918,000		931,376
	WFRBS 2013-C12 A4	3.198% 3/48	219,000		223,448
	WFRBS 2013-C14 A2	2.133% 6/46	158,550		158,541
	WFRBS 2013-C14 A5	3.337% 6/46	274,000		281,337
	Williams Partners	3.6% 3/15/22	545,000		557,423
	Wisconsin Energy	2.45% 6/15/20	218,000		218,408
	WOART 2014-B A3	1.14% 1/20	393,511		392,782
	WOLS 2015-A A3	1.54% 10/18	156,300		156,273
	Wrap Contracts	Wrap Contracts	—		58,316
	Wyndham Worldwide	2.5% 3/18	390,000		390,123
	Xerox Corp	2.75% 3/15/19	554,000		553,996
	Xylem Inc	4.875% 10/01/21	400,000		431,368
	Zoetis Inc	3.45% 11/13/20	106,000		108,495

	Adjustment to Contract Value				(4,396,156		)

Total Investment Contracts					$	1,765,191,430

Registered Investment Companies
	Fidelity Investments Money Market Government Portfolio - Institutional Class Fund*	Money Market Fund	772,877,398		772,877,398
	Janus Balanced N Fund	Blended Based Fund	51,035,894		1,679,591,257
	Oppenheimer Developing Markets Fund	Equity Based Fund	4,892,702		210,043,681
	Pimco Total Return Institutional Fund	Fixed Income Based Fund	49,973,751		513,230,420
	T. Rowe Price Institutional Small-Cap Stock Fund	Equity Based Fund	27,463,732		651,439,727
	Vanguard Institutional Total Stock Market Index Fund Institutional Plus Shares	Equity Based Fund	45,736,696		2,719,961,300
	Vanguard REIT Index Inst	Equity Based Fund	9,462,574		172,124,218

Total Registered Investment Companies					$	6,719,268,001

Self-Directed Brokerage Account		Various	$	—	$	621,574,612

Common Collective Trust
Harris Associates Oakmark Global Collective Fund		Equity Based Fund	16,474,988		314,013,270
Northern Trust Collective Aggregate Bond Index Fund - DC – Non-Lending		Fixed Income Based Fund	10,953,134		1,183,486,083

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Raytheon Savings and Investment Plan

Schedule H Line 4i - Schedule of Assets (Held at End of Year)



Identity of Issue, borrower, lessor, or similar party		Description of investment including maturity date, rate of interest, collateral, par, or maturity value	Shares/Units/ Principal	Current Value
Northern Trust ACWI ex-US Fund - DC NonLending(a)		Equity Based Fund	13,326,739	1,625,995,371
Northern Trust Collective Russell 2000 Index Fund - DC - Non-Lending		Equity Based Fund	6,553,286	970,148,507
Northern Trust Collective S&P 500 Index Fund - DC - Non-Lending		Equity Based Fund	21,138,609	3,107,375,545

Total Common Collective Trust				$	7,201,018,776

Raytheon Company Common Stock
	Raytheon Company*	Raytheon Common Stock	11,014,023	2,068,984,221
Total Raytheon Company Common Stock				$	2,068,984,221

Total Investments				$	18,376,037,040

Participant Loans*		3.25%-9.50%		$	213,867,927


Total Investments At Contract Value Including Participant Loans				$	18,589,904,967

*Party in interest

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SIGNATURES

The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: June 18, 2018



RAYTHEON SAVINGS AND INVESTMENT PLAN

By:	/s/ Michael J. Wood
	Michael J. Wood
	Vice President, Controller and Chief Accounting Officer
	Principal Accounting Officer

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EXHIBIT INDEX



23.1			Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm.