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v3.24.4

Information on Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule Of Financial Information For Each Business Segment | Sales, cost of sales and operating profit for each of our business segments were as follows (in millions):
|  | 2024 |  | 2023 |  | 2022
Net sales |  |  |  |  |  |
Aeronautics |  | $ | 28,618 |  |  | $ | 27,474 |  |  | $ | 26,987 |
Missiles and Fire Control |  | 12,682 |  |  | 11,253 |  |  | 11,317 |
Rotary and Mission Systems |  | 17,264 |  |  | 16,239 |  |  | 16,148 |
Space |  | 12,479 |  |  | 12,605 |  |  | 11,532 |
Total net sales |  | $ | 71,043 |  |  | $ | 67,571 |  |  | $ | 65,984 |
Cost of sales |  |  |  |  |  |
Aeronautics |  | $ | 26,093 |  |  | $ | 24,649 |  |  | $ | 24,110 |
Missiles and Fire Control |  | 12,277 |  |  | 9,712 |  |  | 9,676 |
Rotary and Mission Systems |  | 15,391 |  |  | 14,399 |  |  | 14,258 |
Space |  | 11,308 |  |  | 11,473 |  |  | 10,565 |
Total cost of sales |  | $ | 65,069 |  |  | $ | 60,233 |  |  | $ | 58,609 |
Operating profit |  |  |  |  |  |
Aeronautics |  | $ | 2,523 |  |  | $ | 2,825 |  |  | $ | 2,867 |
Missiles and Fire Control |  | 413 |  |  | 1,541 |  |  | 1,637 |
Rotary and Mission Systems |  | 1,921 |  |  | 1,865 |  |  | 1,906 |
Space |  | 1,226 |  |  | 1,158 |  |  | 1,057 |
Total business segment operating profit |  | 6,083 |  |  | 7,389 |  |  | 7,467 |
Unallocated items |  |  |  |  |  |
FAS/CAS pension operating adjustment |  | 1,624 |  |  | 1,660 |  |  | 1,709 |
Intangible asset amortization expense |  | (247) |  |  | (247) |  |  | (248) |
Impairment and severance charges (a) |  | (87) |  |  | (92) |  |  | (100) |
Other, net |  | (360) |  |  | (203) |  |  | (480) |
Total unallocated, net |  | 930 |  |  | 1,118 |  |  | 881 |
Total consolidated operating profit |  | $ | 7,013 |  |  | $ | 8,507 |  |  | $ | 8,348 |
(a)See “Note 16 – Impairment and Severance Charges” included in our Notes to Consolidated Financial Statements for additional information. 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):
|  | 2024 |  | 2023 |  | 2022
Intersegment sales |  |  |  |  |  |
Aeronautics |  | $ | 377 |  |  | $ | 303 |  |  | $ | 249 |
Missiles and Fire Control |  | 804 |  |  | 688 |  |  | 627 |
Rotary and Mission Systems |  | 2,320 |  |  | 2,125 |  |  | 1,930 |
Space |  | 392 |  |  | 358 |  |  | 381 |
Total intersegment sales |  | $ | 3,893 |  |  | $ | 3,474 |  |  | $ | 3,187 |
Net sales by products and services, contract type, customer category and geographic region for each of our business segments were as follows (in millions):
|  | 2024
|  | Aeronautics |  | MFC |  | RMS |  | Space |  | Total
Net sales |  |  |  |  |  |  |  |  |  |
Products |  | $ | 23,598 |  |  | $ | 11,275 |  |  | $ | 14,005 |  |  | $ | 10,399 |  |  | $ | 59,277 |
Services |  | 5,020 |  |  | 1,407 |  |  | 3,259 |  |  | 2,080 |  |  | 11,766 |
Total net sales |  | $ | 28,618 |  |  | $ | 12,682 |  |  | $ | 17,264 |  |  | $ | 12,479 |  |  | $ | 71,043 |
Net sales by contract type |  |  |  |  |  |  |  |  |  |
Fixed-price |  | $ | 19,603 |  |  | $ | 8,774 |  |  | $ | 10,870 |  |  | $ | 3,481 |  |  | $ | 42,728 |
Cost-reimbursable |  | 9,015 |  |  | 3,908 |  |  | 6,394 |  |  | 8,998 |  |  | 28,315 |
Total net sales |  | $ | 28,618 |  |  | $ | 12,682 |  |  | $ | 17,264 |  |  | $ | 12,479 |  |  | $ | 71,043 |
Net sales by customer |  |  |  |  |  |  |  |  |  |
U.S. Government |  | $ | 19,314 |  |  | $ | 9,043 |  |  | $ | 11,469 |  |  | $ | 12,218 |  |  | $ | 52,044 |
International (a) |  | 9,182 |  |  | 3,629 |  |  | 5,463 |  |  | 241 |  |  | 18,515 |
U.S. commercial and other |  | 122 |  |  | 10 |  |  | 332 |  |  | 20 |  |  | 484 |
Total net sales |  | $ | 28,618 |  |  | $ | 12,682 |  |  | $ | 17,264 |  |  | $ | 12,479 |  |  | $ | 71,043 |
Net sales by geographic region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 19,436 |  |  | $ | 9,053 |  |  | $ | 11,801 |  |  | $ | 12,238 |  |  | $ | 52,528 |
Europe |  | 5,071 |  |  | 1,327 |  |  | 1,243 |  |  | 75 |  |  | 7,716 |
Asia Pacific |  | 2,763 |  |  | 763 |  |  | 2,556 |  |  | 159 |  |  | 6,241 |
Middle East |  | 808 |  |  | 1,473 |  |  | 787 |  |  | 7 |  |  | 3,075 |
Other |  | 540 |  |  | 66 |  |  | 877 |  |  | — |  |  | 1,483 |
Total net sales |  | $ | 28,618 |  |  | $ | 12,682 |  |  | $ | 17,264 |  |  | $ | 12,479 |  |  | $ | 71,043 |
|  | 2023
|  | Aeronautics |  | MFC |  | RMS |  | Space |  | Total
Net sales |  |  |  |  |  |  |  |  |  |
Products |  | $ | 22,758 |  |  | $ | 9,919 |  |  | $ | 12,913 |  |  | $ | 10,675 |  |  | $ | 56,265 |
Services |  | 4,716 |  |  | 1,334 |  |  | 3,326 |  |  | 1,930 |  |  | 11,306 |
Total net sales |  | $ | 27,474 |  |  | $ | 11,253 |  |  | $ | 16,239 |  |  | $ | 12,605 |  |  | $ | 67,571 |
Net sales by contract type |  |  |  |  |  |  |  |  |  |
Fixed-price |  | $ | 18,664 |  |  | $ | 7,661 |  |  | $ | 10,403 |  |  | $ | 3,276 |  |  | $ | 40,004 |
Cost-reimbursable |  | 8,810 |  |  | 3,592 |  |  | 5,836 |  |  | 9,329 |  |  | 27,567 |
Total net sales |  | $ | 27,474 |  |  | $ | 11,253 |  |  | $ | 16,239 |  |  | $ | 12,605 |  |  | $ | 67,571 |
Net sales by customer |  |  |  |  |  |  |  |  |  |
U.S. Government |  | $ | 18,311 |  |  | $ | 7,769 |  |  | $ | 10,961 |  |  | $ | 12,382 |  |  | $ | 49,423 |
International (a) |  | 9,034 |  |  | 3,473 |  |  | 4,983 |  |  | 154 |  |  | 17,644 |
U.S. commercial and other |  | 129 |  |  | 11 |  |  | 295 |  |  | 69 |  |  | 504 |
Total net sales |  | $ | 27,474 |  |  | $ | 11,253 |  |  | $ | 16,239 |  |  | $ | 12,605 |  |  | $ | 67,571 |
Net sales by geographic region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 18,440 |  |  | $ | 7,780 |  |  | $ | 11,256 |  |  | $ | 12,451 |  |  | $ | 49,927 |
Europe |  | 4,898 |  |  | 786 |  |  | 1,265 |  |  | 62 |  |  | 7,011 |
Asia Pacific |  | 2,800 |  |  | 687 |  |  | 2,275 |  |  | 89 |  |  | 5,851 |
Middle East |  | 987 |  |  | 1,844 |  |  | 721 |  |  | 2 |  |  | 3,554 |
Other |  | 349 |  |  | 156 |  |  | 722 |  |  | 1 |  |  | 1,228 |
Total net sales |  | $ | 27,474 |  |  | $ | 11,253 |  |  | $ | 16,239 |  |  | $ | 12,605 |  |  | $ | 67,571 |
|  | 2022
|  | Aeronautics |  | MFC |  | RMS |  | Space |  | Total
Net sales |  |  |  |  |  |  |  |  |  |
Products |  | $ | 22,870 |  |  | $ | 10,048 |  |  | $ | 12,811 |  |  | $ | 9,737 |  |  | $ | 55,466 |
Services |  | 4,117 |  |  | 1,269 |  |  | 3,337 |  |  | 1,795 |  |  | 10,518 |
Total net sales |  | $ | 26,987 |  |  | $ | 11,317 |  |  | $ | 16,148 |  |  | $ | 11,532 |  |  | $ | 65,984 |
Net sales by contract type |  |  |  |  |  |  |  |  |  |
Fixed-price |  | $ | 19,431 |  |  | $ | 8,014 |  |  | $ | 10,460 |  |  | $ | 3,064 |  |  | $ | 40,969 |
Cost-reimbursable |  | 7,556 |  |  | 3,303 |  |  | 5,688 |  |  | 8,468 |  |  | 25,015 |
Total net sales |  | $ | 26,987 |  |  | $ | 11,317 |  |  | $ | 16,148 |  |  | $ | 11,532 |  |  | $ | 65,984 |
Net sales by customer |  |  |  |  |  |  |  |  |  |
U.S. Government |  | $ | 18,026 |  |  | $ | 7,814 |  |  | $ | 11,331 |  |  | $ | 11,344 |  |  | $ | 48,515 |
International (a) |  | 8,811 |  |  | 3,496 |  |  | 4,470 |  |  | 154 |  |  | 16,931 |
U.S. commercial and other |  | 150 |  |  | 7 |  |  | 347 |  |  | 34 |  |  | 538 |
Total net sales |  | $ | 26,987 |  |  | $ | 11,317 |  |  | $ | 16,148 |  |  | $ | 11,532 |  |  | $ | 65,984 |
Net sales by geographic region |  |  |  |  |  |  |  |  |  |
United States |  | $ | 18,176 |  |  | $ | 7,821 |  |  | $ | 11,678 |  |  | $ | 11,378 |  |  | $ | 49,053 |
Europe |  | 4,303 |  |  | 1,020 |  |  | 857 |  |  | 87 |  |  | 6,267 |
Asia Pacific |  | 2,970 |  |  | 461 |  |  | 1,994 |  |  | 54 |  |  | 5,479 |
Middle East |  | 1,103 |  |  | 1,858 |  |  | 823 |  |  | 12 |  |  | 3,796 |
Other |  | 435 |  |  | 157 |  |  | 796 |  |  | 1 |  |  | 1,389 |
Total net sales |  | $ | 26,987 |  |  | $ | 11,317 |  |  | $ | 16,148 |  |  | $ | 11,532 |  |  | $ | 65,984 |
(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.
|  | 2024 |  | 2023 |  | 2022
Capital expenditures |  |  |  |  |  |
Aeronautics |  | $ | 593 |  |  | $ | 535 |  |  | $ | 461 |
Missiles and Fire Control |  | 265 |  |  | 252 |  |  | 253 |
Rotary and Mission Systems |  | 230 |  |  | 220 |  |  | 266 |
Space |  | 366 |  |  | 455 |  |  | 391 |
Total business segment capital expenditures |  | 1,454 |  |  | 1,462 |  |  | 1,371 |
Corporate activities |  | 231 |  |  | 229 |  |  | 299 |
Total capital expenditures |  | $ | 1,685 |  |  | $ | 1,691 |  |  | $ | 1,670 |
PP&E depreciation and software amortization |  |  |  |  |  |
Aeronautics |  | $ | 452 |  |  | $ | 416 |  |  | $ | 383 |
Missiles and Fire Control |  | 183 |  |  | 175 |  |  | 160 |
Rotary and Mission Systems |  | 227 |  |  | 220 |  |  | 245 |
Space |  | 270 |  |  | 221 |  |  | 201 |
Total business segment depreciation and amortization |  | 1,132 |  |  | 1,032 |  |  | 989 |
Corporate activities (a) |  | 427 |  |  | 398 |  |  | 415 |
Total depreciation and amortization |  | $ | 1,559 |  |  | $ | 1,430 |  |  | $ | 1,404 |
(a)Includes amortization of purchased intangibles. Total assets for each of our business segments were as follows (in millions):
|  | 2024 |  | 2023
Assets |  |  |  |
Aeronautics |  | $ | 13,223 |  |  | $ | 13,167 |
Missiles and Fire Control |  | 5,952 |  |  | 5,703 |
Rotary and Mission Systems |  | 17,025 |  |  | 17,521 |
Space |  | 7,388 |  |  | 6,560 |
Total business segment assets |  | 43,588 |  |  | 42,951 |
Corporate assets (a) |  | 12,029 |  |  | 9,505 |
Total assets |  | $ | 55,617 |  |  | $ | 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 other marketable investments.

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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 -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 + Details
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