Raytheon chief's compensation: $12m

Raytheon chairman and CEO William H. Swanson received 2006 compensation the company valued at nearly $12 million, according to the Waltham defense firm's annual proxy statement.

Swanson got $1.2 million in salary, $2.8 million in non-equity incentive plan compensation, and $514,353 in other compensation, including use of company aircraft, security, and club dues.

He also received restricted stock and options the company valued at $7.5 million when they were granted in May of last year.

The Associated Press's calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation, and the estimated value of stock options and awards. The calculations don't include changes in the present value of pension benefits.

Raytheon's full-year profit in 2006 was $1.283 billion, or $2.85 per share, up from $871 million, or $1.92 per share, in 2005.

The 80,000-employee company said it added $7.8 billion in government and defense contract bookings in the fourth quarter, compared with $5.5 billion in the year-ago quarter.
(AP)