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Changes in Contract Estimates at Completion (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Schedule of Change in Accounting Estimate

Net EAC adjustments had the following impact on our operating results:

						Quarter Ended June 30,												Six Months Ended June 30,
(dollars in millions, except per share amounts)						2023						2022						2023						2022
Total net sales						$	(29)					$	(19)					$	(69)					$	78
Operating profit						(30)						(41)						(154)						(5)
Income from continuing operations attributable to common shareowners(1)						(24)						(32)						(122)						(4)
Diluted earnings per share from continuing operations attributable to common shareowners (1)						$	(0.02)					$	(0.02)					$	(0.08)					$	—

(1)     Amounts reflect a U.S. statutory tax rate of 21%, which approximates our tax rate on our EAC adjustments.

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- References

No definition available.

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- Definition

Tabular disclosure of the change in an accounting estimate, including a change that occurs in an interim period. If a change in accounting estimate affects several future periods (for example, a change in the service life of a depreciable asset) disclose the effect on income from continuing operations, net income (or other appropriate captions of changes in the applicable net assets or performance indicator), and any related per-share amounts of the current period. Disclosure of the effects of a change in an accounting estimate that occurs in the ordinary course of business (such as uncollectible accounts or inventory obsolescence) is not required, unless the effect is material.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482989/270-10-45-14

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

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