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Changes in Contract Estimates at Completion (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Schedule of Change in Accounting Estimate

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

						Quarter Ended September 30,												Nine Months Ended September 30,
(dollars in millions, except per share amounts)						2024						2023						2024						2023
Total net sales						$	(63)					$	(235)					$	(78)					$	(304)
Operating profit (loss)						(91)						(279)						(315)						(433)
Income (loss) attributable to common shareowners (1)						(72)						(220)						(249)						(342)
Diluted earnings (loss) per share attributable to common shareowners (1)						$	(0.05)					$	(0.15)					$	(0.19)					$	(0.23)

(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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