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Condensed Consolidating Financial Statements | 9 Months Ended
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Sep. 28, 2014
Consolidating Financial Statements [Abstract] |
Condensed Consolidating Financial Statements | CONDENSED CONSOLIDATING FINANCIAL STATEMENTS The fixed-rate notes described in Note H are fully and unconditionally guaranteed on an unsecured, joint and several basis by certain of our 100-percent-owned subsidiaries (the guarantors). The following condensed consolidating financial statements illustrate the composition of the parent, the guarantors on a combined basis (each guarantor together with its majority-owned subsidiaries) and all other subsidiaries on a combined basis. CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (UNAUDITED)
Three Months Ended September 29, 2013 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Revenues | $ | — |  | $ | 6,925 |  | $ | 810 |  | $ | — |  | $ | 7,735 |
Cost of sales | 2 |  | 5,629 |  | 646 |  | — |  | 6,277 |
G&A | 19 |  | 410 |  | 68 |  | — |  | 497 |
Operating earnings | (21 | ) | 886 |  | 96 |  | — |  | 961 |
Interest, net | (23 | ) | 1 |  | — |  | — |  | (22 | )
Other, net | 1 |  | — |  | 3 |  | — |  | 4 |
Earnings before income tax | (43 | ) | 887 |  | 99 |  | — |  | 943 |
Provision for income tax, net | (15 | ) | 290 |  | 16 |  | — |  | 291 |
Discontinued operations, net of tax | (1 | ) | — |  | — |  | — |  | (1 | )
Equity in net earnings of subsidiaries | 680 |  | — |  | — |  | (680 | ) | — |
Net earnings | $ | 651 |  | $ | 597 |  | $ | 83 |  | $ | (680 | ) | $ | 651 |
Comprehensive income | $ | 871 |  | $ | 611 |  | $ | 236 |  | $ | (847 | ) | $ | 871 |
Three Months Ended September 28, 2014 |  |  |  |  |
Revenues | $ | — |  | $ | 6,761 |  | $ | 990 |  | $ | — |  | $ | 7,751 |
Cost of sales | (1 | ) | 5,512 |  | 763 |  | — |  | 6,274 |
G&A | 16 |  | 397 |  | 65 |  | — |  | 478 |
Operating earnings | (15 | ) | 852 |  | 162 |  | — |  | 999 |
Interest, net | (21 | ) | (4 | ) | 4 |  | — |  | (21 | )
Other, net | (2 | ) | 2 |  | 1 |  | — |  | 1 |
Earnings before income tax | (38 | ) | 850 |  | 167 |  | — |  | 979 |
Provision for income tax, net | (8 | ) | 268 |  | 25 |  | — |  | 285 |
Discontinued operations, net of tax | 2 |  | — |  | — |  | — |  | 2 |
Equity in net earnings of subsidiaries | 724 |  | — |  | — |  | (724 | ) | — |
Net earnings | $ | 696 |  | $ | 582 |  | $ | 142 |  | $ | (724 | ) | $ | 696 |
Comprehensive income | $ | 463 |  | $ | 570 |  | $ | (120 | ) | $ | (450 | ) | $ | 463 |
CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (UNAUDITED)
Nine Months Ended September 29, 2013 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Revenues | $ | — |  | $ | 20,244 |  | $ | 2,639 |  | $ | — |  | $ | 22,883 |
Cost of sales | 10 |  | 16,454 |  | 2,148 |  | — |  | 18,612 |
G&A | 56 |  | 1,229 |  | 221 |  | — |  | 1,506 |
Operating earnings | (66 | ) | 2,561 |  | 270 |  | — |  | 2,765 |
Interest, net | (69 | ) | 4 |  | 2 |  | — |  | (63 | )
Other, net | — |  | — |  | 4 |  | — |  | 4 |
Earnings before income tax | (135 | ) | 2,565 |  | 276 |  | — |  | 2,706 |
Provision for income tax, net | (35 | ) | 804 |  | 75 |  | — |  | 844 |
Discontinued operations, net of tax | — |  | — |  | — |  | — |  | — |
Equity in net earnings of subsidiaries | 1,962 |  | — |  | — |  | (1,962 | ) | — |
Net earnings | $ | 1,862 |  | $ | 1,761 |  | $ | 201 |  | $ | (1,962 | ) | $ | 1,862 |
Comprehensive income | $ | 1,968 |  | $ | 1,794 |  | $ | 95 |  | $ | (1,889 | ) | $ | 1,968 |
Nine Months Ended September 28, 2014 |  |  |  |  |
Revenues | $ | — |  | $ | 19,592 |  | $ | 2,898 |  | $ | — |  | $ | 22,490 |
Cost of sales | 8 |  | 15,943 |  | 2,262 |  | — |  | 18,213 |
G&A | 44 |  | 1,165 |  | 246 |  | — |  | 1,455 |
Operating earnings | (52 | ) | 2,484 |  | 390 |  | — |  | 2,822 |
Interest, net | (68 | ) | (4 | ) | 5 |  | — |  | (67 | )
Other, net | (4 | ) | 5 |  | 1 |  | — |  | 2 |
Earnings before income tax | (124 | ) | 2,485 |  | 396 |  | — |  | 2,757 |
Provision for income tax, net | (31 | ) | 788 |  | 64 |  | — |  | 821 |
Discontinued operations, net of tax | (104 | ) | — |  | — |  | — |  | (104 | )
Equity in net earnings of subsidiaries | 2,029 |  | — |  | — |  | (2,029 | ) | — |
Net earnings | $ | 1,832 |  | $ | 1,697 |  | $ | 332 |  | $ | (2,029 | ) | $ | 1,832 |
Comprehensive income | $ | 1,680 |  | $ | 1,680 |  | $ | 86 |  | $ | (1,766 | ) | $ | 1,680 |
CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED)
December 31, 2013 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and equivalents | $ | 4,179 |  | $ | — |  | $ | 1,122 |  | $ | — |  | $ | 5,301 |
Accounts receivable | — |  | 1,451 |  | 2,919 |  | — |  | 4,370 |
Contracts in process | 571 |  | 3,124 |  | 1,085 |  | — |  | 4,780 |
Inventories |  |  |  |  |
Work in process | — |  | 1,623 |  | 10 |  | — |  | 1,633 |
Raw materials | — |  | 1,172 |  | 38 |  | — |  | 1,210 |
Finished goods | — |  | 24 |  | 5 |  | — |  | 29 |
Pre-owned aircraft | — |  | 18 |  | — |  | — |  | 18 |
Other current assets | 424 |  | 203 |  | 194 |  | — |  | 821 |
Total current assets | 5,174 |  | 7,615 |  | 5,373 |  | — |  | 18,162 |
Noncurrent assets: |  |  |  |  |
Property, plant and equipment | 156 |  | 5,827 |  | 1,169 |  | — |  | 7,152 |
Accumulated depreciation of PP&E | (64 | ) | (3,062 | ) | (667 | ) | — |  | (3,793 | )
Intangible assets | — |  | 1,614 |  | 968 |  | — |  | 2,582 |
Accumulated amortization of intangible assets | — |  | (1,111 | ) | (427 | ) | — |  | (1,538 | )
Goodwill | — |  | 8,041 |  | 3,891 |  | — |  | 11,932 |
Other assets | 600 |  | 483 |  | 398 |  | (484 | ) | 997 |
Investment in subsidiaries | 35,071 |  | — |  | — |  | (35,071 | ) | — |
Total noncurrent assets | 35,763 |  | 11,792 |  | 5,332 |  | (35,555 | ) | 17,332 |
Total assets | $ | 40,937 |  | $ | 19,407 |  | $ | 10,705 |  | $ | (35,555 | ) | $ | 35,494 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Customer advances and deposits | $ | — |  | $ | 3,493 |  | $ | 3,091 |  | $ | — |  | $ | 6,584 |
Other current liabilities | 868 |  | 3,644 |  | 1,163 |  | — |  | 5,675 |
Total current liabilities | 868 |  | 7,137 |  | 4,254 |  | — |  | 12,259 |
Noncurrent liabilities: |  |  |  |  |
Long-term debt | 3,883 |  | 25 |  | — |  | — |  | 3,908 |
Other liabilities | 2,333 |  | 2,007 |  | 486 |  | — |  | 4,826 |
Total noncurrent liabilities | 6,216 |  | 2,032 |  | 486 |  | — |  | 8,734 |
Intercompany | 19,352 |  | (19,697 | ) | 345 |  | — |  | — |
Shareholders' equity: |  |  |  |  |
Common stock | 482 |  | 6 |  | 3,570 |  | (3,576 | ) | 482 |
Other shareholders' equity | 14,019 |  | 29,929 |  | 2,050 |  | (31,979 | ) | 14,019 |
Total shareholders' equity | 14,501 |  | 29,935 |  | 5,620 |  | (35,555 | ) | 14,501 |
Total liabilities and shareholders' equity | $ | 40,937 |  | $ | 19,407 |  | $ | 10,705 |  | $ | (35,555 | ) | $ | 35,494 |
CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED)
September 28, 2014 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and equivalents | $ | 2,257 |  | $ | — |  | $ | 2,848 |  | $ | — |  | $ | 5,105 |
Accounts receivable | — |  | 1,404 |  | 2,777 |  | — |  | 4,181 |
Contracts in process | 516 |  | 2,911 |  | 1,009 |  | — |  | 4,436 |
Inventories |  |  |  |  |
Work in process | — |  | 1,832 |  | 11 |  | — |  | 1,843 |
Raw materials | — |  | 1,212 |  | 32 |  | — |  | 1,244 |
Finished goods | — |  | 15 |  | 8 |  | — |  | 23 |
Pre-owned aircraft | — |  | 29 |  | — |  | — |  | 29 |
Other current assets | 753 |  | 394 |  | 161 |  | — |  | 1,308 |
Total current assets | 3,526 |  | 7,797 |  | 6,846 |  | — |  | 18,169 |
Noncurrent assets: |  |  |  |  |
Property, plant and equipment | 209 |  | 5,947 |  | 1,151 |  | — |  | 7,307 |
Accumulated depreciation of PP&E | (69 | ) | (3,228 | ) | (688 | ) | — |  | (3,985 | )
Intangible assets | — |  | 1,452 |  | 945 |  | — |  | 2,397 |
Accumulated amortization of intangible assets | — |  | (1,019 | ) | (449 | ) | — |  | (1,468 | )
Goodwill | — |  | 7,991 |  | 3,765 |  | — |  | 11,756 |
Other assets | 474 |  | 400 |  | 337 |  | (76 | ) | 1,135 |
Investment in subsidiaries | 37,270 |  | — |  | — |  | (37,270 | ) | — |
Total noncurrent assets | 37,884 |  | 11,543 |  | 5,061 |  | (37,346 | ) | 17,142 |
Total assets | $ | 41,410 |  | $ | 19,340 |  | $ | 11,907 |  | $ | (37,346 | ) | $ | 35,311 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Short-term debt | $ | 500 |  | $ | 1 |  | $ | — |  | $ | — |  | $ | 501 |
Customer advances and deposits | — |  | 3,614 |  | 4,376 |  | — |  | 7,990 |
Other current liabilities | 1,268 |  | 3,664 |  | 1,247 |  | — |  | 6,179 |
Total current liabilities | 1,768 |  | 7,279 |  | 5,623 |  | — |  | 14,670 |
Noncurrent liabilities: |  |  |  |  |
Long-term debt | 3,386 |  | 24 |  | — |  | — |  | 3,410 |
Other liabilities | 1,797 |  | 1,988 |  | 436 |  | — |  | 4,221 |
Total noncurrent liabilities | 5,183 |  | 2,012 |  | 436 |  | — |  | 7,631 |
Intercompany | 21,449 |  | (21,573 | ) | 124 |  | — |  | — |
Shareholders' equity: |  |  |  |  |
Common stock | 482 |  | 6 |  | 2,043 |  | (2,049 | ) | 482 |
Other shareholders' equity | 12,528 |  | 31,616 |  | 3,681 |  | (35,297 | ) | 12,528 |
Total shareholders' equity | 13,010 |  | 31,622 |  | 5,724 |  | (37,346 | ) | 13,010 |
Total liabilities and shareholders' equity | $ | 41,410 |  | $ | 19,340 |  | $ | 11,907 |  | $ | (37,346 | ) | $ | 35,311 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED)
Nine Months Ended September 29, 2013 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Net cash provided by operating activities * | $ | (445 | ) | $ | 1,983 |  | $ | 15 |  | $ | — |  | $ | 1,553 |
Net cash used by investing activities * | 1 |  | (188 | ) | (25 | ) | — |  | (212 | )
Cash flows from financing activities: |  |  |  |  |
Purchases of common stock | (696 | ) | — |  | — |  | — |  | (696 | )
Proceeds from option exercises | 484 |  | — |  | — |  | — |  | 484 |
Dividends paid | (394 | ) | — |  | — |  | — |  | (394 | )
Other, net | 19 |  | — |  | 27 |  | — |  | 46 |
Net cash used by financing activities * | (587 | ) | — |  | 27 |  | — |  | (560 | )
Net cash used by discontinued operations | (12 | ) | — |  | — |  | — |  | (12 | )
Cash sweep/funding by parent | 1,801 |  | (1,795 | ) | (6 | ) | — |  | — |
Net increase in cash and equivalents | 758 |  | — |  | 11 |  | — |  | 769 |
Cash and equivalents at beginning of period | 2,300 |  | — |  | 996 |  | — |  | 3,296 |
Cash and equivalents at end of period | $ | 3,058 |  | $ | — |  | $ | 1,007 |  | $ | — |  | $ | 4,065 |
Nine Months Ended September 28, 2014 |  |  |  |  |
Net cash provided by operating activities * | $ | (237 | ) | $ | 2,140 |  | $ | 1,895 |  | $ | — |  | $ | 3,798 |
Cash flows from investing activities: |  |  |  |  |
Purchases of held-to-maturity securities | (500 | ) | — |  | — |  | — |  | (500 | )
Capital expenditures | (54 | ) | (257 | ) | (26 | ) | — |  | (337 | )
Other, net | 2 |  | 19 |  | (10 | ) | — |  | 11 |
Net cash used by investing activities * | (552 | ) | (238 | ) | (36 | ) | — |  | (826 | )
Cash flows from financing activities: |  |  |  |  |
Purchases of common stock | (3,117 | ) | — |  | — |  | — |  | (3,117 | )
Dividends paid | (618 | ) | — |  | — |  | — |  | (618 | )
Proceeds from option exercises | 475 |  | — |  | — |  | — |  | 475 |
Other, net | 66 |  | — |  | — |  | — |  | 66 |
Net cash used by financing activities * | (3,194 | ) | — |  | — |  | — |  | (3,194 | )
Net cash provided by discontinued operations | 26 |  | — |  | — |  | — |  | 26 |
Cash sweep/funding by parent | 2,035 |  | (1,902 | ) | (133 | ) | — |  | — |
Net decrease in cash and equivalents | (1,922 | ) | — |  | 1,726 |  | — |  | (196 | )
Cash and equivalents at beginning of period | 4,179 |  | — |  | 1,122 |  | — |  | 5,301 |
Cash and equivalents at end of period | $ | 2,257 |  | $ | — |  | $ | 2,848 |  | $ | — |  | $ | 5,105 |
* Continuing operations only

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
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