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INFORMATION ON BUSINESS SEGMENTS (Tables) | 3 Months Ended
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Mar. 28, 2021
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 |
|  | March 28, 2021 |  | March 29, 2020 |  |  |
Net sales |  |  |  |  |  |  |  |  |  |  |
Aeronautics |  | $ | 6,387 |  |  |  | $ | 6,369 |  |  |  |  |  |  |
Missiles and Fire Control |  | 2,749 |  |  |  | 2,619 |  |  |  |  |  |  |
Rotary and Mission Systems |  | 4,107 |  |  |  | 3,746 |  |  |  |  |  |  |
Space |  | 3,015 |  |  |  | 2,917 |  |  |  |  |  |  |
Total net sales |  | $ | 16,258 |  |  |  | $ | 15,651 |  |  |  |  |  |  |
Operating profit |  |  |  |  |  |  |  |  |  |  |
Aeronautics |  | $ | 693 |  |  |  | $ | 672 |  |  |  |  |  |  |
Missiles and Fire Control |  | 396 |  |  |  | 396 |  |  |  |  |  |  |
Rotary and Mission Systems |  | 433 |  |  |  | 376 |  |  |  |  |  |  |
Space |  | 227 |  |  |  | 281 |  |  |  |  |  |  |
Total business segment operating profit |  | 1,749 |  |  |  | 1,725 |  |  |  |  |  |  |
Unallocated items |  |  |  |  |  |  |  |  |  |  |
FAS/CAS operating adjustment |  | 489 |  |  |  | 469 |  |  |  |  |  |  |
Stock-based compensation |  | (47) |  |  |  | (42) |  |  |  |  |  |  |
Severance and restructuring charges |  | (36) |  |  |  | — |  |  |  |  |  |  |
Other, net |  | 27 |  |  |  | (30) |  |  |  |  |  |  |
Total unallocated items |  | 433 |  |  |  | 397 |  |  |  |  |  |  |
Total consolidated operating profit |  | $ | 2,182 |  |  |  | $ | 2,122 |  |  |  |  |  |  |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |
Aeronautics |  | $ | 53 |  |  |  | $ | 59 |  |  |  |  |  |  |
Missiles and Fire Control |  | 129 |  |  |  | 136 |  |  |  |  |  |  |
Rotary and Mission Systems |  | 478 |  |  |  | 499 |  |  |  |  |  |  |
Space |  | 82 |  |  |  | 108 |  |  |  |  |  |  |
Total intersegment sales |  | $ | 742 |  |  |  | $ | 802 |  |  |  |  |  |  |
Our total net FAS/CAS pension adjustment for the quarters ended March 28, 2021 and March 29, 2020, including the service and non-service cost components of FAS pension income for our qualified defined benefit pension plans, were as follows (in millions):
|  | Quarters Ended |  |
|  | March 28, 2021 |  | March 29, 2020 |  |  |  |
Total FAS income and CAS costs |  |  |  |  |  |  |  |  |  |  |  |
FAS pension income |  | $ | 66 |  |  |  | $ | 30 |  |  |  |  |  |  |  |
Less: CAS pension cost |  | 516 |  |  |  | 494 |  |  |  |  |  |  |  |
Net FAS/CAS pension adjustment |  | $ | 582 |  |  |  | $ | 524 |  |  |  |  |  |  |  |
Service and non-service cost reconciliation |  |  |  |  |  |  |  |  |  |  |  |
FAS pension service cost |  | $ | (27) |  |  |  | $ | (25) |  |  |  |  |  |  |  |
Less: CAS pension cost |  | 516 |  |  |  | 494 |  |  |  |  |  |  |  |
FAS/CAS operating adjustment |  | 489 |  |  |  | 469 |  |  |  |  |  |  |  |
Non-operating FAS pension income |  | 93 |  |  |  | 55 |  |  |  |  |  |  |  |
Net FAS/CAS pension adjustment |  | $ | 582 |  |  |  | $ | 524 |  |  |  |  |  |  |  |
Net sales by products and services, contract type, customer, and geographic region were as follows (in millions):
|  | Quarter Ended March 28, 2021
|  | Aeronautics |  | MFC |  | RMS |  | Space |  | Total
Net sales |  |  |  |  |  |  |  |  |  |
Products |  | $ | 5,479 |  |  | $ | 2,410 |  |  | $ | 3,300 |  |  | $ | 2,564 |  |  | $ | 13,753 |
Services |  | 908 |  |  | 339 |  |  | 807 |  |  | 451 |  |  | 2,505 |
Total net sales |  | $ | 6,387 |  |  | $ | 2,749 |  |  | $ | 4,107 |  |  | $ | 3,015 |  |  | $ | 16,258 |
Net sales by contract type |  |  |  |  |  |  |  |  |  |
Fixed-price |  | $ | 4,734 |  |  | $ | 1,878 |  |  | $ | 2,677 |  |  | $ | 614 |  |  | $ | 9,903 |
Cost-reimbursable |  | 1,653 |  |  | 871 |  |  | 1,430 |  |  | 2,401 |  |  | 6,355 |
Total net sales |  | $ | 6,387 |  |  | $ | 2,749 |  |  | $ | 4,107 |  |  | $ | 3,015 |  |  | $ | 16,258 |
Net sales by customer |  |  |  |  |  |  |  |  |  |
U.S. Government |  | $ | 4,273 |  |  | $ | 2,041 |  |  | $ | 2,810 |  |  | $ | 2,551 |  |  | $ | 11,675 |
International (a) |  | 2,099 |  |  | 703 |  |  | 1,220 |  |  | 457 |  |  | 4,479 |
U.S. commercial and other |  | 15 |  |  | 5 |  |  | 77 |  |  | 7 |  |  | 104 |
Total net sales |  | $ | 6,387 |  |  | $ | 2,749 |  |  | $ | 4,107 |  |  | $ | 3,015 |  |  | $ | 16,258 |
Net sales by geographic region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 4,288 |  |  | $ | 2,046 |  |  | $ | 2,887 |  |  | $ | 2,558 |  |  | $ | 11,779 |
Asia Pacific |  | 893 |  |  | 51 |  |  | 650 |  |  | 2 |  |  | 1,596 |
Europe |  | 854 |  |  | 182 |  |  | 201 |  |  | 455 |  |  | 1,692 |
Middle East |  | 284 |  |  | 458 |  |  | 170 |  |  | — |  |  | 912 |
Other |  | 68 |  |  | 12 |  |  | 199 |  |  | — |  |  | 279 |
Total net sales |  | $ | 6,387 |  |  | $ | 2,749 |  |  | $ | 4,107 |  |  | $ | 3,015 |  |  | $ | 16,258 |
|  | Quarter Ended March 29, 2020
|  | Aeronautics |  | MFC |  | RMS |  | Space |  | Total
Net sales |  |  |  |  |  |  |  |  |  |
Products |  | $ | 5,455 |  |  | $ | 2,275 |  |  | $ | 2,986 |  |  | $ | 2,450 |  |  | $ | 13,166 |
Services |  | 914 |  |  | 344 |  |  | 760 |  |  | 467 |  |  | 2,485 |
Total net sales |  | $ | 6,369 |  |  | $ | 2,619 |  |  | $ | 3,746 |  |  | $ | 2,917 |  |  | $ | 15,651 |
Net sales by contract type |  |  |  |  |  |  |  |  |  |
Fixed-price |  | $ | 4,584 |  |  | $ | 1,718 |  |  | $ | 2,482 |  |  | $ | 519 |  |  | $ | 9,303 |
Cost-reimbursable |  | 1,785 |  |  | 901 |  |  | 1,264 |  |  | 2,398 |  |  | 6,348 |
Total net sales |  | $ | 6,369 |  |  | $ | 2,619 |  |  | $ | 3,746 |  |  | $ | 2,917 |  |  | $ | 15,651 |
Net sales by customer |  |  |  |  |  |  |  |  |  |
U.S. Government |  | $ | 4,033 |  |  | $ | 1,955 |  |  | $ | 2,788 |  |  | $ | 2,483 |  |  | $ | 11,259 |
International (a) |  | 2,321 |  |  | 660 |  |  | 855 |  |  | 420 |  |  | 4,256 |
U.S. commercial and other |  | 15 |  |  | 4 |  |  | 103 |  |  | 14 |  |  | 136 |
Total net sales |  | $ | 6,369 |  |  | $ | 2,619 |  |  | $ | 3,746 |  |  | $ | 2,917 |  |  | $ | 15,651 |
Net sales by geographic region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 4,048 |  |  | $ | 1,959 |  |  | $ | 2,891 |  |  | $ | 2,497 |  |  | $ | 11,395 |
Asia Pacific |  | 995 |  |  | 75 |  |  | 318 |  |  | 28 |  |  | 1,416 |
Europe |  | 948 |  |  | 168 |  |  | 167 |  |  | 398 |  |  | 1,681 |
Middle East |  | 328 |  |  | 407 |  |  | 207 |  |  | (6) |  |  | 936 |
Other |  | 50 |  |  | 10 |  |  | 163 |  |  | — |  |  | 223 |
Total net sales |  | $ | 6,369 |  |  | $ | 2,619 |  |  | $ | 3,746 |  |  | $ | 2,917 |  |  | $ | 15,651 |
(a)International sales include FMS contracted through the U.S. Government and direct commercial sales to international governments and other international customers. Total assets for each of our business segments were as follows (in millions):
|  | March 28, 2021 |  | December 31, 2020
Assets |  |  |  |  |  |
Aeronautics |  | $ | 10,709 |  |  |  | $ | 9,903 |  |
Missiles and Fire Control |  | 5,058 |  |  |  | 4,966 |  |
Rotary and Mission Systems |  | 17,885 |  |  |  | 18,035 |  |
Space |  | 6,850 |  |  |  | 6,451 |  |
Total business segment assets |  | 40,502 |  |  |  | 39,355 |  |
Corporate assets (a) |  | 10,935 |  |  |  | 11,355 |  |
Total assets |  | $ | 51,437 |  |  |  | $ | 50,710 |  |
(a)Corporate assets primarily include cash and cash equivalents, deferred income taxes, assets for the portion of environmental costs that are probable of future recovery and investments held in a separate trust.

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