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INFORMATION ON BUSINESS SEGMENTS (Tables) | 9 Months Ended
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Sep. 24, 2017
Segment Reporting [Abstract] |
Summary Of Operating Results and Total Assets For Each Business Segment | Summary operating results for each of our business segments were as follows (in millions):
|  | Quarters Ended |  | Nine Months Ended
|  | September 24, 2017 |  | September 25, 2016 |  | September 24, 2017 |  | September 25, 2016
Net sales |  |  |  |  |  |  |  |  |
Aeronautics |  | $ | 4,771 |  |  |  | $ | 4,188 |  |  |  | $ | 14,102 |  |  |  | $ | 12,362 |  |
Missiles and Fire Control |  | 1,793 |  |  |  | 1,737 |  |  |  | 4,919 |  |  |  | 4,851 |  |
Rotary and Mission Systems |  | 3,353 |  |  |  | 3,346 |  |  |  | 9,864 |  |  |  | 9,653 |  |
Space Systems |  | 2,252 |  |  |  | 2,280 |  |  |  | 7,026 |  |  |  | 6,630 |  |
Total net sales |  | $ | 12,169 |  |  |  | $ | 11,551 |  |  |  | $ | 35,911 |  |  |  | $ | 33,496 |  |
Operating profit |  |  |  |  |  |  |  |  |
Aeronautics |  | $ | 517 |  |  |  | $ | 437 |  |  |  | $ | 1,503 |  |  |  | $ | 1,335 |  |
Missiles and Fire Control |  | 270 |  |  |  | 289 |  |  |  | 757 |  |  |  | 763 |  |
Rotary and Mission Systems |  | 244 |  |  |  | 247 |  |  |  | 606 |  |  |  | 678 |  |
Space Systems (a) |  | 218 |  |  |  | 450 |  |  |  | 762 |  |  |  | 1,034 |  |
Total business segment operating profit |  | 1,249 |  |  |  | 1,423 |  |  |  | 3,628 |  |  |  | 3,810 |  |
Unallocated items |  |  |  |  |  |  |  |  |
FAS/CAS pension adjustment |  |  |  |  |  |  |  |  |
FAS pension expense |  | (342 | ) |  |  | (256 | ) |  |  | (1,030 | ) |  |  | (758 | ) |
Less: CAS pension cost |  | 562 |  |  |  | 482 |  |  |  | 1,686 |  |  |  | 1,430 |  |
FAS/CAS pension adjustment |  | 220 |  |  |  | 226 |  |  |  | 656 |  |  |  | 672 |  |
Stock-based compensation |  | (32 | ) |  |  | (28 | ) |  |  | (133 | ) |  |  | (124 | ) |
Severance charges |  | — |  |  |  | — |  |  |  | — |  |  |  | (80 | ) |
Other, net (b) (c) |  | (9 | ) |  |  | (33 | ) |  |  | (89 | ) |  |  | (157 | ) |
Total unallocated items |  | 179 |  |  |  | 165 |  |  |  | 434 |  |  |  | 311 |  |
Total consolidated operating profit |  | $ | 1,428 |  |  |  | $ | 1,588 |  |  |  | $ | 4,062 |  |  |  | $ | 4,121 |  |
Intersegment sales |  |  |  |  |  |  |  |  |
Aeronautics |  | $ | 33 |  |  |  | $ | 30 |  |  |  | $ | 98 |  |  |  | $ | 105 |  |
Missiles and Fire Control |  | 104 |  |  |  | 81 |  |  |  | 253 |  |  |  | 225 |  |
Rotary and Mission Systems |  | 452 |  |  |  | 469 |  |  |  | 1,438 |  |  |  | 1,382 |  |
Space Systems |  | 31 |  |  |  | 21 |  |  |  | 76 |  |  |  | 90 |  |
Total intersegment sales |  | $ | 620 |  |  |  | $ | 601 |  |  |  | $ | 1,865 |  |  |  | $ | 1,802 |  |
(a) | On August 24, 2016, our ownership interest in the AWE joint venture increased from 33% to 51% and we were required to change our accounting for this investment from the equity method to consolidation. As a result of the increased ownership interest, we recognized a non-cash gain of $127 million at our Space Systems business segment, which increased net earnings from continuing operations by $104 million ($0.34 per share) in the quarter and nine months ended September 25, 2016. See “Note 1 – Basis of Presentation” for more information.
(b) | During the nine months ended September 24, 2017, we recognized a $64 million charge, which represents our portion of a noncash asset impairment charge recorded by our equity method investee, Advanced Military Maintenance, Repair and Overhaul Center LLC (AMMROC). See “Note 10 – Other” (under the caption “Equity Method Investee Impairment”) for more information.
(c) | Includes $17 million and $82 million of corporate overhead costs incurred during the quarter and nine months ended September 25, 2016 that were previously allocated to our former IS&GS business. See “Note 3 – Divestiture” for more information.
Total assets for each of our business segments were as follows (in millions):
|  | September 24, 2017 |  | December 31, 2016
Assets |  |  |  |  |  |
Aeronautics |  | $ | 7,918 |  |  |  | $ | 7,896 |  |
Missiles and Fire Control |  | 4,510 |  |  |  | 4,000 |  |
Rotary and Mission Systems |  | 18,500 |  |  |  | 18,367 |  |
Space Systems |  | 5,425 |  |  |  | 5,250 |  |
Total business segment assets |  | 36,353 |  |  |  | 35,513 |  |
Corporate assets (a) |  | 12,593 |  |  |  | 12,293 |  |
Total assets |  | $ | 48,946 |  |  |  | $ | 47,806 |  |
(a) | Corporate assets primarily include cash and cash equivalents, deferred income taxes, environmental receivables, and investments held in a separate trust to fund certain of our non-qualified deferred compensation plans.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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