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Condensed Consolidating Financial Statements (Tables) | 6 Months Ended
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Jul. 01, 2018
Consolidating Financial Statements [Abstract] |
Condensed Consolidating Statement of Earnings (Unaudited) | CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (UNAUDITED)
Three Months Ended July 1, 2018 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Revenue | $ | — |  | $ | 6,793 |  | $ | 2,393 |  | $ | — |  | $ | 9,186 |
Cost of sales | 9 |  | (5,475 | ) | (2,043 | ) | — |  | (7,509 | )
G&A | (45 | ) | (418 | ) | (126 | ) | — |  | (589 | )
Operating earnings | (36 | ) | 900 |  | 224 |  | — |  | 1,088 |
Interest, net | (94 | ) | (1 | ) | (8 | ) | — |  | (103 | )
Other, net | (38 | ) | 4 |  | 19 |  | — |  | (15 | )
Earnings before income tax | (168 | ) | 903 |  | 235 |  | — |  | 970 |
Provision for income tax, net | 43 |  | (178 | ) | (49 | ) | — |  | (184 | )
Equity in net earnings of subsidiaries | 911 |  | — |  | — |  | (911 | ) | — |
Net earnings | $ | 786 |  | $ | 725 |  | $ | 186 |  | $ | (911 | ) | $ | 786 |
Comprehensive income | $ | 619 |  | $ | 740 |  | $ | (41 | ) | $ | (699 | ) | $ | 619 |
Three Months Ended July 2, 2017 |  |  |  |  |
Revenue | $ | — |  | $ | 6,732 |  | $ | 943 |  | $ | — |  | $ | 7,675 |
Cost of sales | 14 |  | (5,413 | ) | (715 | ) | — |  | (6,114 | )
G&A | (12 | ) | (406 | ) | (76 | ) | — |  | (494 | )
Operating earnings | 2 |  | 913 |  | 152 |  | — |  | 1,067 |
Interest, net | (23 | ) | — |  | (1 | ) | — |  | (24 | )
Other, net | (15 | ) | 3 |  | 1 |  | — |  | (11 | )
Earnings before income tax | (36 | ) | 916 |  | 152 |  | — |  | 1,032 |
Provision for income tax, net | 26 |  | (301 | ) | (8 | ) | — |  | (283 | )
Equity in net earnings of subsidiaries | 759 |  | — |  | — |  | (759 | ) | — |
Net earnings | $ | 749 |  | $ | 615 |  | $ | 144 |  | $ | (759 | ) | $ | 749 |
Comprehensive income | $ | 1,089 |  | $ | 642 |  | $ | 427 |  | $ | (1,069 | ) | $ | 1,089 |
CONDENSED CONSOLIDATING STATEMENT OF EARNINGS (UNAUDITED)
Six Months Ended July 1, 2018 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Revenue | $ | — |  | $ | 13,277 |  | $ | 3,444 |  | $ | — |  | $ | 16,721 |
Cost of sales | 28 |  | (10,677 | ) | (2,850 | ) | — |  | (13,499 | )
G&A | (58 | ) | (854 | ) | (214 | ) | — |  | (1,126 | )
Operating earnings | (30 | ) | 1,746 |  | 380 |  | — |  | 2,096 |
Interest, net | (120 | ) | (1 | ) | (9 | ) | — |  | (130 | )
Other, net | (62 | ) | 5 |  | 21 |  | — |  | (36 | )
Earnings before income tax | (212 | ) | 1,750 |  | 392 |  | — |  | 1,930 |
Provision for income tax, net | 85 |  | (343 | ) | (87 | ) | — |  | (345 | )
Equity in net earnings of subsidiaries | 1,712 |  | — |  | — |  | (1,712 | ) | — |
Net earnings | $ | 1,585 |  | $ | 1,407 |  | $ | 305 |  | $ | (1,712 | ) | $ | 1,585 |
Comprehensive income | $ | 1,485 |  | $ | 1,425 |  | $ | 96 |  | $ | (1,521 | ) | $ | 1,485 |
Six Months Ended July 2, 2017 |  |  |  |  |
Revenue | $ | — |  | $ | 13,276 |  | $ | 1,840 |  | $ | — |  | $ | 15,116 |
Cost of sales | 31 |  | (10,665 | ) | (1,403 | ) | — |  | (12,037 | )
G&A | (22 | ) | (792 | ) | (152 | ) | — |  | (966 | )
Operating earnings | 9 |  | 1,819 |  | 285 |  | — |  | 2,113 |
Interest, net | (47 | ) | — |  | (2 | ) | — |  | (49 | )
Other, net | (30 | ) | 6 |  | 2 |  | — |  | (22 | )
Earnings before income tax | (68 | ) | 1,825 |  | 285 |  | — |  | 2,042 |
Provision for income tax, net | 93 |  | (594 | ) | (29 | ) | — |  | (530 | )
Equity in net earnings of subsidiaries | 1,487 |  | — |  | — |  | (1,487 | ) | — |
Net earnings | $ | 1,512 |  | $ | 1,231 |  | $ | 256 |  | $ | (1,487 | ) | $ | 1,512 |
Comprehensive income | $ | 1,977 |  | $ | 1,259 |  | $ | 634 |  | $ | (1,893 | ) | $ | 1,977 |
Condensed Consolidating Balance Sheet (Unaudited) | CONDENSED CONSOLIDATING BALANCE SHEET (UNAUDITED)
July 1, 2018 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and equivalents | $ | 1,329 |  | $ | — |  | $ | 533 |  | $ | — |  | $ | 1,862 |
Accounts receivable | — |  | 1,118 |  | 2,756 |  | — |  | 3,874 |
Unbilled receivables | — |  | 2,783 |  | 4,342 |  | — |  | 7,125 |
Inventories | — |  | 5,752 |  | 138 |  | — |  | 5,890 |
Other current assets | 132 |  | 408 |  | 536 |  | — |  | 1,076 |
Total current assets | 1,461 |  | 10,061 |  | 8,305 |  | — |  | 19,827 |
Noncurrent assets: |  |  |  |  |
Property, plant and equipment (PP&E) | 240 |  | 6,973 |  | 1,875 |  | — |  | 9,088 |
Accumulated depreciation of PP&E | (79 | ) | (4,006 | ) | (824 | ) | — |  | (4,909 | )
Intangible assets, net | — |  | 272 |  | 2,466 |  | — |  | 2,738 |
Goodwill | — |  | 8,335 |  | 11,403 |  | — |  | 19,738 |
Other assets | 246 |  | 236 |  | 188 |  | — |  | 670 |
Investment in subsidiaries | 56,387 |  | — |  | — |  | (56,387 | ) | — |
Total noncurrent assets | 56,794 |  | 11,810 |  | 15,108 |  | (56,387 | ) | 27,325 |
Total assets | $ | 58,255 |  | $ | 21,871 |  | $ | 23,413 |  | $ | (56,387 | ) | $ | 47,152 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Short-term debt and current portion of long-term debt | $ | 2,789 |  | $ | 1 |  | $ | 91 |  | $ | — |  | $ | 2,881 |
Customer advances and deposits | — |  | 4,395 |  | 2,824 |  | — |  | 7,219 |
Other current liabilities | 581 |  | 3,550 |  | 2,342 |  | — |  | 6,473 |
Total current liabilities | 3,370 |  | 7,946 |  | 5,257 |  | — |  | 16,573 |
Noncurrent liabilities: |  |  |  |  |
Long-term debt | 11,385 |  | 5 |  | 7 |  | — |  | 11,397 |
Other liabilities | 2,293 |  | 3,197 |  | 1,698 |  | — |  | 7,188 |
Total noncurrent liabilities | 13,678 |  | 3,202 |  | 1,705 |  | — |  | 18,585 |
Intercompany | 29,213 |  | (28,715 | ) | (498 | ) | — |  | — |
Shareholders’ equity: |  |  |  |  |
Common stock | 482 |  | 6 |  | 2,126 |  | (2,132 | ) | 482 |
Other shareholders’ equity | 11,512 |  | 39,432 |  | 14,823 |  | (54,255 | ) | 11,512 |
Total shareholders’ equity | 11,994 |  | 39,438 |  | 16,949 |  | (56,387 | ) | 11,994 |
Total liabilities and shareholders’ equity | $ | 58,255 |  | $ | 21,871 |  | $ | 23,413 |  | $ | (56,387 | ) | $ | 47,152 |
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2017 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and equivalents | $ | 1,930 |  | $ | — |  | $ | 1,053 |  | $ | — |  | $ | 2,983 |
Accounts receivable | — |  | 1,259 |  | 2,358 |  | — |  | 3,617 |
Unbilled receivables | — |  | 2,547 |  | 2,693 |  | — |  | 5,240 |
Inventories | — |  | 5,216 |  | 87 |  | — |  | 5,303 |
Other current assets | 351 |  | 461 |  | 373 |  | — |  | 1,185 |
Total current assets | 2,281 |  | 9,483 |  | 6,564 |  | — |  | 18,328 |
Noncurrent assets: |  |  |  |  |
PP&E | 221 |  | 6,779 |  | 1,237 |  | — |  | 8,237 |
Accumulated depreciation of PP&E | (75 | ) | (3,869 | ) | (776 | ) | — |  | (4,720 | )
Intangible assets, net | — |  | 287 |  | 415 |  | — |  | 702 |
Goodwill | — |  | 8,320 |  | 3,594 |  | — |  | 11,914 |
Other assets | 199 |  | 232 |  | 154 |  | — |  | 585 |
Investment in subsidiaries | 44,887 |  | — |  | — |  | (44,887 | ) | — |
Total noncurrent assets | 45,232 |  | 11,749 |  | 4,624 |  | (44,887 | ) | 16,718 |
Total assets | $ | 47,513 |  | $ | 21,232 |  | $ | 11,188 |  | $ | (44,887 | ) | $ | 35,046 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Short-term debt and current portion of long-term debt | $ | — |  | $ | 1 |  | $ | 1 |  | $ | — |  | $ | 2 |
Customer advances and deposits | — |  | 4,180 |  | 2,812 |  | — |  | 6,992 |
Other current liabilities | 561 |  | 3,758 |  | 1,786 |  | — |  | 6,105 |
Total current liabilities | 561 |  | 7,939 |  | 4,599 |  | — |  | 13,099 |
Noncurrent liabilities: |  |  |  |  |
Long-term debt | 3,950 |  | 21 |  | 9 |  | — |  | 3,980 |
Other liabilities | 2,451 |  | 3,473 |  | 608 |  | — |  | 6,532 |
Total noncurrent liabilities | 6,401 |  | 3,494 |  | 617 |  | — |  | 10,512 |
Intercompany | 29,116 |  | (28,494 | ) | (622 | ) | — |  | — |
Shareholders’ equity: |  |  |  |  |
Common stock | 482 |  | 6 |  | 2,126 |  | (2,132 | ) | 482 |
Other shareholders’ equity | 10,953 |  | 38,287 |  | 4,468 |  | (42,755 | ) | 10,953 |
Total shareholders’ equity | 11,435 |  | 38,293 |  | 6,594 |  | (44,887 | ) | 11,435 |
Total liabilities and shareholders’ equity | $ | 47,513 |  | $ | 21,232 |  | $ | 11,188 |  | $ | (44,887 | ) | $ | 35,046 |
Condensed Consolidating Statement of Cash Flows (Unaudited) | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)
Six Months Ended July 1, 2018 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Net cash provided by operating activities* | $ | 41 |  | $ | 468 |  | $ | (218 | ) | $ | — |  | $ | 291 |
Cash flows from investing activities: |  |  |  |  |
Business acquisitions, net of cash acquired | (9,749 | ) | (74 | ) | (216 | ) | — |  | (10,039 | )
Capital expenditures | (22 | ) | (215 | ) | (42 | ) | — |  | (279 | )
Other, net | 2 |  | 72 |  | — |  | — |  | 74 |
Net cash used by investing activities | (9,769 | ) | (217 | ) | (258 | ) | — |  | (10,244 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds from fixed-rate notes | 6,461 |  | — |  | — |  | — |  | 6,461 |
Proceeds from commercial paper, net | 2,786 |  | — |  | — |  | — |  | 2,786 |
Proceeds from floating-rate notes | 1,000 |  | — |  | — |  | — |  | 1,000 |
Dividends paid | (526 | ) | — |  | — |  | — |  | (526 | )
Repayment of CSRA accounts receivable purchase agreement | — |  | — |  | (450 | ) | — |  | (450 | )
Purchases of common stock | (436 | ) | — |  | — |  | — |  | (436 | )
Other, net | (45 | ) | — |  | 48 |  | — |  | 3 |
Net cash provided by financing activities | 9,240 |  | — |  | (402 | ) | — |  | 8,838 |
Net cash used by discontinued operations | (6 | ) | — |  | — |  | — |  | (6 | )
Cash sweep/funding by parent | (107 | ) | (251 | ) | 358 |  | — |  | — |
Net decrease in cash and equivalents | (601 | ) | — |  | (520 | ) | — |  | (1,121 | )
Cash and equivalents at beginning of period | 1,930 |  | — |  | 1,053 |  | — |  | 2,983 |
Cash and equivalents at end of period | $ | 1,329 |  | $ | — |  | $ | 533 |  | $ | — |  | $ | 1,862 |
Six Months Ended July 2, 2017 |  |  |  |  |
Net cash provided by operating activities* | $ | 214 |  | $ | 847 |  | $ | (51 | ) | $ | — |  | $ | 1,010 |
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (6 | ) | (114 | ) | (33 | ) | — |  | (153 | )
Other, net | 1 |  | 8 |  | (51 | ) | — |  | (42 | )
Net cash used by investing activities | (5 | ) | (106 | ) | (84 | ) | — |  | (195 | )
Cash flows from financing activities: |  |  |  |  |
Purchases of common stock | (901 | ) | — |  | — |  | — |  | (901 | )
Dividends paid | (483 | ) | — |  | — |  | — |  | (483 | )
Other, net | 21 |  | (1 | ) | 88 |  | — |  | 108 |
Net cash used by financing activities | (1,363 | ) | (1 | ) | 88 |  | — |  | (1,276 | )
Net cash used by discontinued operations | (17 | ) | — |  | — |  | — |  | (17 | )
Cash sweep/funding by parent | 764 |  | (740 | ) | (24 | ) | — |  | — |
Net decrease in cash and equivalents | (407 | ) | — |  | (71 | ) | — |  | (478 | )
Cash and equivalents at beginning of period | 1,254 |  | — |  | 1,080 |  | — |  | 2,334 |
Cash and equivalents at end of period | $ | 847 |  | $ | — |  | $ | 1,009 |  | $ | — |  | $ | 1,856 |
* Continuing operations only.

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