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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Provision for Federal & Foreign Income Tax Expense | Federal and foreign income tax expense for continuing operations consisted of the following (in millions):
|  | 2024 |  | 2023 |  | 2022
Federal income tax expense (benefit): |  |  |  |  |  |
Current |  | $ | 1,352 |  |  | $ | 1,574 |  |  | $ | 1,618 |
Deferred |  | (604) |  |  | (503) |  |  | (776) |
Total federal income tax expense |  | 748 |  |  | 1,071 |  |  | 842 |
Foreign income tax expense: |  |  |  |  |  |
Current |  | 120 |  |  | 102 |  |  | 87 |
Deferred |  | 16 |  |  | 5 |  |  | 19 |
Total foreign income tax expense |  | 136 |  |  | 107 |  |  | 106 |
Total federal and foreign income tax expense |  | $ | 884 |  |  | $ | 1,178 |  |  | $ | 948 |
Schedule of Reconciliation of Income Tax Expense Computed Using U.S. Statutory Federal Tax Rate to Actual Income Tax Expense | A reconciliation of the U.S. federal statutory income tax expense to actual income tax expense for continuing operations is as follows (in millions):
|  | 2024 |  | 2023 |  | 2022
|  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
Income tax expense at the U.S. federal statutory tax rate |  | $ | 1,306 |  |  | 21.0 | % |  | $ | 1,701 |  |  | 21.0 | % |  | $ | 1,403 |  |  | 21.0 | %
Foreign derived intangible income deduction |  | (210) |  |  | (3.4) |  |  | (185) |  |  | (2.3) |  |  | (176) |  |  | (2.6) |
Research and development tax credit |  | (207) |  |  | (3.3) |  |  | (227) |  |  | (2.8) |  |  | (178) |  |  | (2.7) |
Tax deductible dividends |  | (69) |  |  | (1.1) |  |  | (69) |  |  | (0.9) |  |  | (67) |  |  | (1.0) |
Excess tax benefits for stock-based payment awards |  | (20) |  |  | (0.3) |  |  | (25) |  |  | (0.3) |  |  | (42) |  |  | (0.6) |
Other, net (a) |  | 84 |  |  | 1.3 |  |  | (17) |  |  | (0.2) |  |  | 8 |  |  | 0.1 |
Income tax expense |  | $ | 884 |  |  | 14.2 | % |  | $ | 1,178 |  |  | 14.5 | % |  | $ | 948 |  |  | 14.2 | %
(a)Other, net includes foreign income tax expenses for all years.
Schedule of Unrecognized Tax Benefits Roll Forward | The change in unrecognized tax benefits were as follows (in millions):
|  | 2024 |  | 2023 |  | 2022
Balance at January 1 |  | $ | 146 |  |  | $ | 1,622 |  |  | $ | 69 |
Additions based on tax positions related to the current year |  | 78 |  |  | 50 |  |  | 1,572 |
Additions for tax positions of prior years |  | 8 |  |  | 32 |  |  | 5 |
Reductions for tax positions of prior years |  | (2) |  |  | (1,526) |  |  | (2) |
Settlements with tax authorities |  | — |  |  | (33) |  |  | (23) |
Other, net |  | (1) |  |  | 1 |  |  | 1 |
Balance at December 31 |  | $ | 229 |  |  | $ | 146 |  |  | $ | 1,622 |
Schedule of Components of Federal and Foreign Deferred Tax Assets and Liabilities | The primary components of our federal and foreign deferred income tax assets and liabilities at December 31 were as follows (in millions):
|  | 2024 |  | 2023
Deferred tax assets related to: |  |  |  |
Pensions |  | $ | 1,184 |  |  | $ | 1,485 |
Accrued compensation and benefits |  | 741 |  |  | 731 |
Contract accounting methods |  | 949 |  |  | 508 |
Research and development expenditures |  | 1,643 |  |  | 1,251 |
Domestic company operating losses (a) |  | 83 |  |  | — |
Foreign company operating losses and credits |  | 6 |  |  | 19 |
Other (b) |  | 522 |  |  | 487 |
Valuation allowance |  | (41) |  |  | (32) |
Deferred tax assets, net |  | 5,087 |  |  | 4,449 |
Deferred tax liabilities related to: |  |  |  |
Goodwill and intangible assets |  | 545 |  |  | 494 |
Property, plant and equipment |  | 371 |  |  | 415 |
Other (b) |  | 638 |  |  | 597 |
Deferred tax liabilities |  | 1,554 |  |  | 1,506 |
Net deferred tax assets |  | $ | 3,533 |  |  | $ | 2,943 |
(a)Federal net operating losses obtained in the Terran Orbital transaction described above which do not expire. (b)Includes deferred tax assets and liabilities related to lease liability and ROU asset.

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