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Condensed Consolidating Financial Statements | 3 Months Ended
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Apr. 02, 2017
Consolidating Financial Statements [Abstract] |
Condensed Consolidating Financial Statements | CONDENSED CONSOLIDATING FINANCIAL STATEMENTS The fixed-rate notes described in Note I are fully and unconditionally guaranteed on an unsecured, joint and several basis by several 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 April 2, 2017 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Revenue | $ | — |  | $ | 6,544 |  | $ | 897 |  | $ | — |  | $ | 7,441 |
Cost of sales | (3 | ) | 5,241 |  | 687 |  | — |  | 5,925 |
G&A | 11 |  | 394 |  | 76 |  | — |  | 481 |
Operating earnings | (8 | ) | 909 |  | 134 |  | — |  | 1,035 |
Interest, net | (24 | ) | — |  | (1 | ) | — |  | (25 | )
Earnings before income tax | (32 | ) | 909 |  | 133 |  | — |  | 1,010 |
Provision for income tax, net | (67 | ) | 293 |  | 21 |  | — |  | 247 |
Equity in net earnings of subsidiaries | 728 |  | — |  | — |  | (728 | ) | — |
Net earnings | $ | 763 |  | $ | 616 |  | $ | 112 |  | $ | (728 | ) | $ | 763 |
Comprehensive income | $ | 888 |  | $ | 617 |  | $ | 207 |  | $ | (824 | ) | $ | 888 |
Three Months Ended April 3, 2016 |  |  |  |  |
Revenue | $ | — |  | $ | 6,599 |  | $ | 877 |  | $ | — |  | $ | 7,476 |
Cost of sales | 4 |  | 5,391 |  | 696 |  | — |  | 6,091 |
G&A | 11 |  | 379 |  | 71 |  | — |  | 461 |
Operating earnings | (15 | ) | 829 |  | 110 |  | — |  | 924 |
Interest, net | (23 | ) | — |  | 1 |  | — |  | (22 | )
Other, net | 10 |  | — |  | — |  | — |  | 10 |
Earnings before income tax | (28 | ) | 829 |  | 111 |  | — |  | 912 |
Provision for income tax, net | (28 | ) | 262 |  | 24 |  | — |  | 258 |
Discontinued operations | (13 | ) | — |  | — |  | — |  | (13 | )
Equity in net earnings of subsidiaries | 654 |  | — |  | — |  | (654 | ) | — |
Net earnings | $ | 641 |  | $ | 567 |  | $ | 87 |  | $ | (654 | ) | $ | 641 |
Comprehensive income | $ | 985 |  | $ | 565 |  | $ | 400 |  | $ | (965 | ) | $ | 985 |
CONDENSED CONSOLIDATING BALANCE SHEET (UNAUDITED)
April 2, 2017 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and equivalents | $ | 1,051 |  | $ | — |  | $ | 1,117 |  | $ | — |  | $ | 2,168 |
Accounts receivable | — |  | 1,156 |  | 2,327 |  | — |  | 3,483 |
Unbilled receivables | — |  | 2,563 |  | 1,994 |  | — |  | 4,557 |
Inventories | 238 |  | 5,485 |  | 99 |  | — |  | 5,822 |
Other current assets | 142 |  | 195 |  | 247 |  | — |  | 584 |
Total current assets | 1,431 |  | 9,399 |  | 5,784 |  | — |  | 16,614 |
Noncurrent assets: |  |  |  |  |
Property, plant and equipment, net | 131 |  | 2,854 |  | 427 |  | — |  | 3,412 |
Intangible assets, net | — |  | 255 |  | 424 |  | — |  | 679 |
Goodwill | — |  | 8,052 |  | 3,480 |  | — |  | 11,532 |
Other assets | 577 |  | 244 |  | 153 |  | — |  | 974 |
Investment in subsidiaries | 41,618 |  | — |  | — |  | (41,618 | ) | — |
Total noncurrent assets | 42,326 |  | 11,405 |  | 4,484 |  | (41,618 | ) | 16,597 |
Total assets | $ | 43,757 |  | $ | 20,804 |  | $ | 10,268 |  | $ | (41,618 | ) | $ | 33,211 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Short-term debt and current portion of long-term debt | $ | 898 |  | $ | 3 |  | $ | — |  | $ | — |  | $ | 901 |
Customer advances and deposits | — |  | 4,053 |  | 2,633 |  | — |  | 6,686 |
Other current liabilities | 599 |  | 3,406 |  | 1,573 |  | — |  | 5,578 |
Total current liabilities | 1,497 |  | 7,462 |  | 4,206 |  | — |  | 13,165 |
Noncurrent liabilities: |  |  |  |  |
Long-term debt | 2,966 |  | 22 |  | — |  | — |  | 2,988 |
Other liabilities | 2,398 |  | 3,475 |  | 602 |  | — |  | 6,475 |
Total noncurrent liabilities | 5,364 |  | 3,497 |  | 602 |  | — |  | 9,463 |
Intercompany | 26,313 |  | (26,259 | ) | (54 | ) | — |  | — |
Shareholders’ equity: |  |  |  |  |
Common stock | 482 |  | 6 |  | 2,354 |  | (2,360 | ) | 482 |
Other shareholders’ equity | 10,101 |  | 36,098 |  | 3,160 |  | (39,258 | ) | 10,101 |
Total shareholders’ equity | 10,583 |  | 36,104 |  | 5,514 |  | (41,618 | ) | 10,583 |
Total liabilities and shareholders’ equity | $ | 43,757 |  | $ | 20,804 |  | $ | 10,268 |  | $ | (41,618 | ) | $ | 33,211 |
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2016 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and equivalents | $ | 1,254 |  | $ | — |  | $ | 1,080 |  | $ | — |  | $ | 2,334 |
Accounts receivable | — |  | 1,155 |  | 2,244 |  | — |  | 3,399 |
Unbilled receivables | — |  | 2,235 |  | 1,977 |  | — |  | 4,212 |
Inventories | 304 |  | 5,417 |  | 96 |  | — |  | 5,817 |
Other current assets | 330 |  | 204 |  | 238 |  | — |  | 772 |
Total current assets | 1,888 |  | 9,011 |  | 5,635 |  | — |  | 16,534 |
Noncurrent assets: |  |  |  |  |
Property, plant and equipment, net | 130 |  | 2,933 |  | 414 |  | — |  | 3,477 |
Intangible assets, net | — |  | 265 |  | 413 |  | — |  | 678 |
Goodwill | — |  | 8,050 |  | 3,395 |  | — |  | 11,445 |
Other assets | 640 |  | 232 |  | 166 |  | — |  | 1,038 |
Investment in subsidiaries | 41,956 |  | — |  | — |  | (41,956 | ) | — |
Total noncurrent assets | 42,726 |  | 11,480 |  | 4,388 |  | (41,956 | ) | 16,638 |
Total assets | $ | 44,614 |  | $ | 20,491 |  | $ | 10,023 |  | $ | (41,956 | ) | $ | 33,172 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Short-term debt and current portion of long-term debt | $ | 898 |  | $ | 2 |  | $ | — |  | $ | — |  | $ | 900 |
Customer advances and deposits | — |  | 4,339 |  | 2,488 |  | — |  | 6,827 |
Other current liabilities | 564 |  | 3,465 |  | 1,694 |  | — |  | 5,723 |
Total current liabilities | 1,462 |  | 7,806 |  | 4,182 |  | — |  | 13,450 |
Noncurrent liabilities: |  |  |  |  |
Long-term debt | 2,966 |  | 22 |  | — |  | — |  | 2,988 |
Other liabilities | 3,520 |  | 2,330 |  | 583 |  | — |  | 6,433 |
Total noncurrent liabilities | 6,486 |  | 2,352 |  | 583 |  | — |  | 9,421 |
Intercompany | 26,365 |  | (25,827 | ) | (538 | ) | — |  | — |
Shareholders’ equity: |  |  |  |  |
Common stock | 482 |  | 6 |  | 2,354 |  | (2,360 | ) | 482 |
Other shareholders’ equity | 9,819 |  | 36,154 |  | 3,442 |  | (39,596 | ) | 9,819 |
Total shareholders’ equity | 10,301 |  | 36,160 |  | 5,796 |  | (41,956 | ) | 10,301 |
Total liabilities and shareholders’ equity | $ | 44,614 |  | $ | 20,491 |  | $ | 10,023 |  | $ | (41,956 | ) | $ | 33,172 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED)
Three Months Ended April 2, 2017 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Net cash provided by operating activities* | $ | (9 | ) | $ | 442 |  | $ | 100 |  | $ | — |  | $ | 533 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (3 | ) | (42 | ) | (17 | ) | — |  | (62 | )
Other, net | (1 | ) | 29 |  | (51 | ) | — |  | (23 | )
Net cash used by investing activities | (4 | ) | (13 | ) | (68 | ) | — |  | (85 | )
Cash flows from financing activities: |  |  |  |  |
Purchases of common stock | (354 | ) | — |  | — |  | — |  | (354 | )
Dividends paid | (230 | ) | — |  | — |  | — |  | (230 | )
Other, net | (21 | ) | (1 | ) | — |  | — |  | (22 | )
Net cash used by financing activities | (605 | ) | (1 | ) | — |  | — |  | (606 | )
Net cash used by discontinued operations | (8 | ) | — |  | — |  | — |  | (8 | )
Cash sweep/funding by parent | 423 |  | (428 | ) | 5 |  | — |  | — |
Net decrease in cash and equivalents | (203 | ) | — |  | 37 |  | — |  | (166 | )
Cash and equivalents at beginning of period | 1,254 |  | — |  | 1,080 |  | — |  | 2,334 |
Cash and equivalents at end of period | $ | 1,051 |  | $ | — |  | $ | 1,117 |  | $ | — |  | $ | 2,168 |
Three Months Ended April 3, 2016 |  |  |  |  |
Net cash provided by operating activities* | $ | 102 |  | $ | 314 |  | $ | 64 |  | $ | — |  | $ | 480 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (1 | ) | (58 | ) | (6 | ) | — |  | (65 | )
Other, net | 6 |  | (21 | ) | (38 | ) | — |  | (53 | )
Net cash used by investing activities | 5 |  | (79 | ) | (44 | ) | — |  | (118 | )
Cash flows from financing activities: |  |  |  |  |
Purchases of common stock | (1,026 | ) | — |  | — |  | — |  | (1,026 | )
Dividends paid | (215 | ) | — |  | — |  | — |  | (215 | )
Other, net | 7 |  | — |  | — |  | — |  | 7 |
Net cash used by financing activities | (1,234 | ) | — |  | — |  | — |  | (1,234 | )
Net cash used by discontinued operations | (6 | ) | — |  | — |  | — |  | (6 | )
Cash sweep/funding by parent | 387 |  | (235 | ) | (152 | ) | — |  | — |
Net decrease in cash and equivalents | (746 | ) | — |  | (132 | ) | — |  | (878 | )
Cash and equivalents at beginning of period | 1,732 |  | — |  | 1,053 |  | — |  | 2,785 |
Cash and equivalents at end of period | $ | 986 |  | $ | — |  | $ | 921 |  | $ | — |  | $ | 1,907 |
* 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 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: 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=64809438&loc=d3e5614-111684 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01(a)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 + Details
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