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Information on Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Summary Of Financial Information For Each Business Segment | Sales and operating profit for each of our business segments were as follows (in millions):
|  | 2021 |  | 2020 |  | 2019
Net sales |  |  |  |  |  |
Aeronautics |  | $ | 26,748 |  |  | $ | 26,266 |  |  | $ | 23,693 |
Missiles and Fire Control |  | 11,693 |  |  | 11,257 |  |  | 10,131 |
Rotary and Mission Systems |  | 16,789 |  |  | 15,995 |  |  | 15,128 |
Space |  | 11,814 |  |  | 11,880 |  |  | 10,860 |
Total net sales |  | $ | 67,044 |  |  | $ | 65,398 |  |  | $ | 59,812 |
Operating profit |  |  |  |  |  |
Aeronautics |  | $ | 2,799 |  |  | $ | 2,843 |  |  | $ | 2,521 |
Missiles and Fire Control |  | 1,648 |  |  | 1,545 |  |  | 1,441 |
Rotary and Mission Systems |  | 1,798 |  |  | 1,615 |  |  | 1,421 |
Space |  | 1,134 |  |  | 1,149 |  |  | 1,191 |
Total business segment operating profit |  | 7,379 |  |  | 7,152 |  |  | 6,574 |
Unallocated items |  |  |  |  |  |
FAS/CAS operating adjustment |  | 1,960 |  |  | 1,876 |  |  | 2,049 |
Stock-based compensation |  | (227) |  |  | (221) |  |  | (189) |
Severance and restructuring charges (a) |  | (36) |  |  | (27) |  |  | — |
Other, net (b) |  | 47 |  |  | (136) |  |  | 111 |
Total unallocated, net |  | 1,744 |  |  | 1,492 |  |  | 1,971 |
Total consolidated operating profit |  | $ | 9,123 |  |  | $ | 8,644 |  |  | $ | 8,545 |
(a)Severance and restructuring includes a $36 million ($28 million, or $0.10 per share, after-tax) charge during 2021 associated with plans to close and consolidate certain facilities and reduce total workforce within our RMS business segment; and a $27 million ($21 million, or $0.08 per share, after-tax) charge during 2020 related to the planned elimination of certain positions primarily at our corporate functions. (b)Other, net in 2020 includes a noncash impairment charge of $128 million recognized in the second quarter of 2020 on our investment in the international equity method investee, AMMROC, which decreased net earnings from continuing operations by $96 million. Other, net in 2019 includes a previously deferred non-cash gain of $51 million related to properties sold in 2015 as a result of completing our remaining obligations and a gain of $34 million for the sale of our Distributed Energy Solutions business. (See “Note 1 – Organization and Significant Accounting Policies”). Our total net FAS/CAS pension adjustments, including the service and non-service cost components of FAS pension (expense) income for our qualified defined benefit pension plans, were as follows (in millions):
|  | 2021 |  | 2020 |  | 2019
Total FAS (expense) income and CAS costs |  |  |  |  |  |
FAS pension (expense) income |  | $ | (1,398) |  |  | $ | 118 |  |  | $ | (1,093) |
Less: CAS pension cost |  | 2,066 |  |  | 1,977 |  |  | 2,565 |
Net FAS/CAS pension adjustment |  | $ | 668 |  |  | $ | 2,095 |  |  | $ | 1,472 |
Service and non-service cost reconciliation |  |  |  |  |  |
FAS pension service cost |  | $ | (106) |  |  | $ | (101) |  |  | $ | (516) |
Less: CAS pension cost |  | 2,066 |  |  | 1,977 |  |  | 2,565 |
FAS/CAS operating adjustment |  | 1,960 |  |  | 1,876 |  |  | 2,049 |
Non-service FAS pension (expense) income |  | (1,292) |  |  | 219 |  |  | (577) |
Net FAS/CAS pension adjustment |  | $ | 668 |  |  | $ | 2,095 |  |  | $ | 1,472 |
Sales between our business segments are excluded from our consolidated and segment operating results as these activities are eliminated in consolidation. Intersegment sales for each of our business segments were as follows (in millions):
|  | 2021 |  | 2020 |  | 2019
Intersegment sales |  |  |  |  |  |
Aeronautics |  | $ | 219 |  |  | $ | 243 |  |  | $ | 217 |
Missiles and Fire Control |  | 618 |  |  | 562 |  |  | 515 |
Rotary and Mission Systems |  | 1,895 |  |  | 1,903 |  |  | 1,872 |
Space |  | 360 |  |  | 377 |  |  | 352 |
Total intersegment sales |  | $ | 3,092 |  |  | $ | 3,085 |  |  | $ | 2,956 |
Net sales by total products and services, contract type, customer category and geographic region for each of our business segments were as follows (in millions):
|  | 2021
|  | Aeronautics |  | MFC |  | RMS |  | Space |  | Total
Net sales |  |  |  |  |  |  |  |  |  |
Products |  | $ | 22,631 |  |  | $ | 10,269 |  |  | $ | 13,483 |  |  | $ | 10,052 |  |  | $ | 56,435 |
Services |  | 4,117 |  |  | 1,424 |  |  | 3,306 |  |  | 1,762 |  |  | 10,609 |
Total net sales |  | $ | 26,748 |  |  | $ | 11,693 |  |  | $ | 16,789 |  |  | $ | 11,814 |  |  | $ | 67,044 |
Net sales by contract type |  |  |  |  |  |  |  |  |  |
Fixed-price |  | $ | 19,734 |  |  | $ | 8,079 |  |  | $ | 11,125 |  |  | $ | 2,671 |  |  | $ | 41,609 |
Cost-reimbursable |  | 7,014 |  |  | 3,614 |  |  | 5,664 |  |  | 9,143 |  |  | 25,435 |
Total net sales |  | $ | 26,748 |  |  | $ | 11,693 |  |  | $ | 16,789 |  |  | $ | 11,814 |  |  | $ | 67,044 |
Net sales by customer |  |  |  |  |  |  |  |  |  |
U.S. Government |  | $ | 17,262 |  |  | $ | 8,341 |  |  | $ | 11,736 |  |  | $ | 10,811 |  |  | $ | 48,150 |
International (a) |  | 9,403 |  |  | 3,346 |  |  | 4,719 |  |  | 971 |  |  | 18,439 |
U.S. commercial and other |  | 83 |  |  | 6 |  |  | 334 |  |  | 32 |  |  | 455 |
Total net sales |  | $ | 26,748 |  |  | $ | 11,693 |  |  | $ | 16,789 |  |  | $ | 11,814 |  |  | $ | 67,044 |
Net sales by geographic region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 17,345 |  |  | $ | 8,347 |  |  | $ | 12,070 |  |  | $ | 10,843 |  |  | $ | 48,605 |
Europe |  | 3,973 |  |  | 910 |  |  | 909 |  |  | 968 |  |  | 6,760 |
Asia Pacific |  | 3,644 |  |  | 292 |  |  | 2,178 |  |  | (6) |  |  | 6,108 |
Middle East |  | 1,351 |  |  | 2,066 |  |  | 827 |  |  | 9 |  |  | 4,253 |
Other |  | 435 |  |  | 78 |  |  | 805 |  |  | — |  |  | 1,318 |
Total net sales |  | $ | 26,748 |  |  | $ | 11,693 |  |  | $ | 16,789 |  |  | $ | 11,814 |  |  | $ | 67,044 |
|  | 2020
|  | Aeronautics |  | MFC |  | RMS |  | Space |  | Total
Net sales |  |  |  |  |  |  |  |  |  |
Products |  | $ | 22,327 |  |  | $ | 9,804 |  |  | $ | 12,748 |  |  | $ | 10,049 |  |  | $ | 54,928 |
Services |  | 3,939 |  |  | 1,453 |  |  | 3,247 |  |  | 1,831 |  |  | 10,470 |
Total net sales |  | $ | 26,266 |  |  | $ | 11,257 |  |  | $ | 15,995 |  |  | $ | 11,880 |  |  | $ | 65,398 |
Net sales by contract type |  |  |  |  |  |  |  |  |  |
Fixed-price |  | $ | 18,477 |  |  | $ | 7,587 |  |  | $ | 10,795 |  |  | $ | 2,247 |  |  | $ | 39,106 |
Cost-reimbursable |  | 7,789 |  |  | 3,670 |  |  | 5,200 |  |  | 9,633 |  |  | 26,292 |
Total net sales |  | $ | 26,266 |  |  | $ | 11,257 |  |  | $ | 15,995 |  |  | $ | 11,880 |  |  | $ | 65,398 |
Net sales by customer |  |  |  |  |  |  |  |  |  |
U.S. Government |  | $ | 18,175 |  |  | $ | 8,404 |  |  | $ | 11,596 |  |  | $ | 10,293 |  |  | $ | 48,468 |
International (a) |  | 8,012 |  |  | 2,842 |  |  | 3,986 |  |  | 1,546 |  |  | 16,386 |
U.S. commercial and other |  | 79 |  |  | 11 |  |  | 413 |  |  | 41 |  |  | 544 |
Total net sales |  | $ | 26,266 |  |  | $ | 11,257 |  |  | $ | 15,995 |  |  | $ | 11,880 |  |  | $ | 65,398 |
Net sales by geographic region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 18,254 |  |  | $ | 8,415 |  |  | $ | 12,009 |  |  | $ | 10,334 |  |  | $ | 49,012 |
Europe |  | 3,283 |  |  | 767 |  |  | 806 |  |  | 1,478 |  |  | 6,334 |
Asia Pacific |  | 3,162 |  |  | 280 |  |  | 1,666 |  |  | 68 |  |  | 5,176 |
Middle East |  | 1,344 |  |  | 1,749 |  |  | 847 |  |  | — |  |  | 3,940 |
Other |  | 223 |  |  | 46 |  |  | 667 |  |  | — |  |  | 936 |
Total net sales |  | $ | 26,266 |  |  | $ | 11,257 |  |  | $ | 15,995 |  |  | $ | 11,880 |  |  | $ | 65,398 |
(a)International sales include FMS contracted through the U.S. Government, direct commercial sales with international governments and commercial and other sales to international customers.
|  | 2019
|  | Aeronautics |  | MFC |  | RMS |  | Space |  | Total
Net sales |  |  |  |  |  |  |  |  |  |
Products |  | $ | 20,319 |  |  | $ | 8,424 |  |  | $ | 12,206 |  |  | $ | 9,104 |  |  | $ | 50,053 |
Services |  | 3,374 |  |  | 1,707 |  |  | 2,922 |  |  | 1,756 |  |  | 9,759 |
Total net sales |  | $ | 23,693 |  |  | $ | 10,131 |  |  | $ | 15,128 |  |  | $ | 10,860 |  |  | $ | 59,812 |
Net sales by contract type |  |  |  |  |  |  |  |  |  |
Fixed-price |  | $ | 17,239 |  |  | $ | 6,449 |  |  | $ | 10,382 |  |  | $ | 2,135 |  |  | $ | 36,205 |
Cost-reimbursable |  | 6,454 |  |  | 3,682 |  |  | 4,746 |  |  | 8,725 |  |  | 23,607 |
Total net sales |  | $ | 23,693 |  |  | $ | 10,131 |  |  | $ | 15,128 |  |  | $ | 10,860 |  |  | $ | 59,812 |
Net sales by customer |  |  |  |  |  |  |  |  |  |
U.S. Government |  | $ | 14,776 |  |  | $ | 7,524 |  |  | $ | 10,803 |  |  | $ | 9,322 |  |  | $ | 42,425 |
International (a) |  | 8,733 |  |  | 2,465 |  |  | 3,822 |  |  | 1,511 |  |  | 16,531 |
U.S. commercial and other |  | 184 |  |  | 142 |  |  | 503 |  |  | 27 |  |  | 856 |
Total net sales |  | $ | 23,693 |  |  | $ | 10,131 |  |  | $ | 15,128 |  |  | $ | 10,860 |  |  | $ | 59,812 |
Net sales by geographic region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 14,960 |  |  | $ | 7,666 |  |  | $ | 11,306 |  |  | $ | 9,349 |  |  | $ | 43,281 |
Europe |  | 3,224 |  |  | 516 |  |  | 769 |  |  | 1,419 |  |  | 5,928 |
Asia Pacific |  | 3,882 |  |  | 420 |  |  | 1,451 |  |  | 73 |  |  | 5,826 |
Middle East |  | 1,465 |  |  | 1,481 |  |  | 979 |  |  | 19 |  |  | 3,944 |
Other |  | 162 |  |  | 48 |  |  | 623 |  |  | — |  |  | 833 |
Total net sales |  | $ | 23,693 |  |  | $ | 10,131 |  |  | $ | 15,128 |  |  | $ | 10,860 |  |  | $ | 59,812 |
(a)International sales include FMS contracted through the U.S. Government, direct commercial sales with international governments and commercial and other sales to international customers. Capital Expenditures, PP&E Depreciation and Software Amortization, and Amortization of Purchased Intangibles
|  | 2021 |  | 2020 |  | 2019
Capital expenditures |  |  |  |  |  |
Aeronautics |  | $ | 477 |  |  | $ | 534 |  |  | $ | 526 |
Missiles and Fire Control |  | 304 |  |  | 391 |  |  | 300 |
Rotary and Mission Systems |  | 279 |  |  | 311 |  |  | 272 |
Space |  | 305 |  |  | 403 |  |  | 258 |
Total business segment capital expenditures |  | 1,365 |  |  | 1,639 |  |  | 1,356 |
Corporate activities |  | 157 |  |  | 127 |  |  | 128 |
Total capital expenditures |  | $ | 1,522 |  |  | $ | 1,766 |  |  | $ | 1,484 |
PP&E depreciation and software amortization (a) |  |  |  |  |  |
Aeronautics |  | $ | 348 |  |  | $ | 348 |  |  | $ | 318 |
Missiles and Fire Control |  | 153 |  |  | 136 |  |  | 122 |
Rotary and Mission Systems |  | 250 |  |  | 244 |  |  | 232 |
Space |  | 205 |  |  | 182 |  |  | 164 |
Total business segment depreciation and amortization |  | 956 |  |  | 910 |  |  | 836 |
Corporate activities |  | 123 |  |  | 109 |  |  | 70 |
Total depreciation and amortization |  | $ | 1,079 |  |  | $ | 1,019 |  |  | $ | 906 |
Amortization of purchased intangibles |  |  |  |  |  |
Aeronautics |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Missiles and Fire Control |  | 2 |  |  | 2 |  |  | 2 |
Rotary and Mission Systems |  | 232 |  |  | 232 |  |  | 232 |
Space |  | 50 |  |  | 37 |  |  | 50 |
Total amortization of purchased intangibles |  | $ | 285 |  |  | $ | 271 |  |  | $ | 284 |
(a)Excludes amortization of purchased intangibles. Total assets for each of our business segments were as follows (in millions):
|  | 2021 |  | 2020
Assets |  |  |  |
Aeronautics |  | $ | 10,756 |  |  | $ | 9,903 |
Missiles and Fire Control |  | 5,243 |  |  | 4,966 |
Rotary and Mission Systems |  | 17,664 |  |  | 18,035 |
Space |  | 6,199 |  |  | 6,451 |
Total business segment assets |  | 39,862 |  |  | 39,355 |
Corporate assets (a) |  | 11,011 |  |  | 11,355 |
Total assets |  | $ | 50,873 |  |  | $ | 50,710 |
(a)Corporate assets primarily include cash and cash equivalents, deferred income taxes, assets for the portion of certain environmental costs that are probable of future recovery, and investments. Substantially all of our operating assets are located in the U.S.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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