From Raytheon 2009 Annual ReportWe believe that, in order to...

From Raytheon 2009 Annual Report

We believe that, in order to remain competitive in the future, we will need to continue to invest significant financial
resources to develop new and adapt or modify our existing offerings and technologies, including through internal
research and development, acquisitions and joint ventures or other teaming arrangements.

We have made, and expect to continue to make, strategic acquisitions and investments, and these activities involve risks
and uncertainties.
In pursuing our business strategies, we continually review, evaluate and consider potential investments and acquisitions.
In evaluating such transactions, we are required to make difficult judgments regarding the value of business
opportunities, technologies and other assets, and the risks and cost of potential liabilities. Furthermore, acquisitions and
investments involve certain other risks and uncertainties, including the difficulty in integrating newly-acquired
businesses, the challenges in achieving strategic objectives and other benefits expected from acquisitions or investments,
the diversion of our attention and resources from our operations and other initiatives, the potential impairment of
acquired assets and the potential loss of key employees of the acquired businesses.