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INFORMATION ON BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 29, 2024

Segment Reporting [Abstract]

Schedule 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 29, 2024									September 24, 2023						September 29, 2024									September 24, 2023
Net sales
Aeronautics						$	6,487								$	6,717					$	20,609								$	19,861
Missiles and Fire Control						3,175									2,939						9,270									8,082
Rotary and Mission Systems						4,367									4,121						13,003									11,528
Space						3,075									3,101						9,539									9,226
Total net sales						$	17,104								$	16,878					$	52,421								$	48,697
Operating profit
Aeronautics						$	659								$	671					$	2,089								$	2,064
Missiles and Fire Control						456									398						1,217									1,146
Rotary and Mission Systems						483									482						1,408									1,286
Space						272									259						943									851
Total business segment operating profit						1,870									1,810						5,657									5,347
Unallocated items
FAS/CAS pension operating adjustment						406									414						1,218									1,245
Impairment and severance charges (a)						—									—						(87)									—
Intangible asset amortization expense						(61)									(61)						(183)									(185)
Other, net						(75)									(121)						(288)									(193)
Total unallocated items						270									232						660									867
Total consolidated operating profit						$	2,140								$	2,042					$	6,317								$	6,214
Intersegment sales
Aeronautics						$	125								$	62					$	262								$	186
Missiles and Fire Control						210									177						616									482
Rotary and Mission Systems						569									518						1,729									1,512
Space						94									97						300									275
Total intersegment sales						$	998								$	854					$	2,907								$	2,455

(a)Impairment and severance charges of $87 million ($69 million, or $0.29 per share, after-tax) include trademark and fixed asset impairments as well as severance costs recorded in the second quarter of 2024. See “Note 10 - Other” below for additional information.

Net sales by products and services, contract type, customer, and geographic region were as follows (in millions):

						Quarter Ended September 29, 2024
						Aeronautics						MFC						RMS						Space						Total
Net sales
Products						$	5,550					$	2,811					$	3,554					$	2,557					$	14,472
Services						937						364						813						518						2,632
Total net sales						$	6,487					$	3,175					$	4,367					$	3,075					$	17,104
Net sales by contract type
Fixed-price						$	4,276					$	2,211					$	2,691					$	865					$	10,043
Cost-reimbursable						2,211						964						1,676						2,210						7,061
Total net sales						$	6,487					$	3,175					$	4,367					$	3,075					$	17,104
Net sales by customer
U.S. Government						$	4,465					$	2,272					$	2,867					$	3,081					$	12,685
International (a)						1,973						901						1,403						61						4,338
U.S. commercial and other						49						2						97						(67)						81
Total net sales						$	6,487					$	3,175					$	4,367					$	3,075					$	17,104
Net sales by geographic region
United States						$	4,514					$	2,274					$	2,964					$	3,014					$	12,766
Europe						1,047						334						309						18						1,708
Asia Pacific						612						216						632						43						1,503
Middle East						206						333						190						—						729
Other						108						18						272						—						398
Total net sales						$	6,487					$	3,175					$	4,367					$	3,075					$	17,104

						Nine Months Ended September 29, 2024
						Aeronautics						MFC						RMS						Space						Total
Net sales
Products						$	17,113					$	8,217					$	10,500					$	7,947					$	43,777
Services						3,496						1,053						2,503						1,592						8,644
Total net sales						$	20,609					$	9,270					$	13,003					$	9,539					$	52,421
Net sales by contract type
Fixed-price						$	13,805					$	6,331					$	7,980					$	2,690					$	30,806
Cost-reimbursable						6,804						2,939						5,023						6,849						21,615
Total net sales						$	20,609					$	9,270					$	13,003					$	9,539					$	52,421
Net sales by customer
U.S. Government						$	14,072					$	6,680					$	8,706					$	9,350					$	38,808
International (a)						6,422						2,581						4,035						174						13,212
U.S. commercial and other						115						9						262						15						401
Total net sales						$	20,609					$	9,270					$	13,003					$	9,539					$	52,421
Net sales by geographic region
United States						$	14,187					$	6,689					$	8,968					$	9,365					$	39,209
Europe						3,528						788						860						55						5,231
Asia Pacific						1,933						583						1,922						114						4,552
Middle East						603						1,153						552						5						2,313
Other						358						57						701						—						1,116
Total net sales						$	20,609					$	9,270					$	13,003					$	9,539					$	52,421

						Quarter Ended September 24, 2023
						Aeronautics						MFC						RMS						Space						Total
Net sales
Products						$	5,538					$	2,609					$	3,249					$	2,618					$	14,014
Services						1,179						330						872						483						2,864
Total net sales						$	6,717					$	2,939					$	4,121					$	3,101					$	16,878
Net sales by contract type
Fixed-price						$	4,495					$	2,017					$	2,602					$	796					$	9,910
Cost-reimbursable						2,222						922						1,519						2,305						6,968
Total net sales						$	6,717					$	2,939					$	4,121					$	3,101					$	16,878
Net sales by customer
U.S. Government						$	4,547					$	2,061					$	2,796					$	3,055					$	12,459
International (a)						2,170						875						1,254						24						4,323
U.S. commercial and other						—						3						71						22						96
Total net sales						$	6,717					$	2,939					$	4,121					$	3,101					$	16,878
Net sales by geographic region
United States						$	4,547					$	2,064					$	2,867					$	3,077					$	12,555
Europe						1,190						197						269						1						1,657
Asia Pacific						693						155						601						22						1,471
Middle East						220						474						185						1						880
Other						67						49						199						—						315
Total net sales						$	6,717					$	2,939					$	4,121					$	3,101					$	16,878

						Nine Months Ended September 24, 2023
						Aeronautics						MFC						RMS						Space						Total
Net sales
Products						$	16,339					$	7,110					$	9,082					$	7,767					$	40,298
Services						3,522						972						2,446						1,459						8,399
Total net sales						$	19,861					$	8,082					$	11,528					$	9,226					$	48,697
Net sales by contract type
Fixed-price						$	13,463					$	5,498					$	7,261					$	2,359					$	28,581
Cost-reimbursable						6,398						2,584						4,267						6,867						20,116
Total net sales						$	19,861					$	8,082					$	11,528					$	9,226					$	48,697
Net sales by customer
U.S. Government						$	13,285					$	5,553					$	7,973					$	9,084					$	35,895
International (a)						6,453						2,521						3,349						110						12,433
U.S. commercial and other						123						8						206						32						369
Total net sales						$	19,861					$	8,082					$	11,528					$	9,226					$	48,697
Net sales by geographic region
United States						$	13,408					$	5,561					$	8,179					$	9,116					$	36,264
Europe						3,466						582						706						48						4,802
Asia Pacific						2,058						472						1,593						60						4,183
Middle East						671						1,340						526						2						2,539
Other						258						127						524						—						909
Total net sales						$	19,861					$	8,082					$	11,528					$	9,226					$	48,697

(a)International sales include foreign military sales (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):

						September 29, 2024									December 31, 2023
Assets
Aeronautics						$	13,987								$	13,167
Missiles and Fire Control						5,853									5,703
Rotary and Mission Systems						17,313									17,521
Space						6,652									6,560
Total business segment assets						43,805									42,951
Corporate assets (a)						11,715									9,505
Total assets						$	55,520								$	52,456

(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, property, plant and equipment used in our corporate operations, assets held in a trust for deferred compensation plans, and investments in early-stage companies.

X

- 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
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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