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Condensed Consolidating Financial Statements | 6 Months Ended
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Jun. 30, 2019
Consolidating Financial Statements [Abstract] |
Condensed Consolidating Financial Statements | CONDENSED CONSOLIDATING FINANCIAL STATEMENTS The fixed- and floating-rate notes described in Note I are fully and unconditionally guaranteed on an unsecured, joint and several basis by several of our 100%-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 STATEMENT OF EARNINGS (UNAUDITED)
Three Months Ended June 30, 2019 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Revenue | $ | — |  | $ | 7,437 |  | $ | 2,118 |  | $ | — |  | $ | 9,555 |
Cost of sales | 21 |  | (6,111 | ) | (1,779 | ) | — |  | (7,869 | )
G&A | (19 | ) | (428 | ) | (149 | ) | — |  | (596 | )
Operating earnings | 2 |  | 898 |  | 190 |  | — |  | 1,090 |
Interest, net | (110 | ) | 1 |  | (10 | ) | — |  | (119 | )
Other, net | (10 | ) | 3 |  | 19 |  | — |  | 12 |
Earnings before income tax | (118 | ) | 902 |  | 199 |  | — |  | 983 |
Provision for income tax, net | 40 |  | (173 | ) | (44 | ) | — |  | (177 | )
Equity in net earnings of subsidiaries | 884 |  | — |  | — |  | (884 | ) | — |
Net earnings | $ | 806 |  | $ | 729 |  | $ | 155 |  | $ | (884 | ) | $ | 806 |
Comprehensive income | $ | 1,013 |  | $ | 733 |  | $ | 315 |  | $ | (1,048 | ) | $ | 1,013 |
Three Months Ended July 1, 2018 |  |  |  |  |
Revenue | $ | — |  | $ | 6,793 |  | $ | 2,393 |  | $ | — |  | $ | 9,186 |
Cost of sales | 9 |  | (5,475 | ) | (2,020 | ) | — |  | (7,486 | )
G&A | (45 | ) | (418 | ) | (149 | ) | — |  | (612 | )
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 |
Six Months Ended June 30, 2019 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Revenue | $ | — |  | $ | 14,382 |  | $ | 4,434 |  | $ | — |  | $ | 18,816 |
Cost of sales | 39 |  | (11,837 | ) | (3,704 | ) | — |  | (15,502 | )
G&A | (41 | ) | (847 | ) | (322 | ) | — |  | (1,210 | )
Operating earnings | (2 | ) | 1,698 |  | 408 |  | — |  | 2,104 |
Interest, net | (217 | ) | 1 |  | (20 | ) | — |  | (236 | )
Other, net | (18 | ) | 7 |  | 41 |  | — |  | 30 |
Earnings before income tax | (237 | ) | 1,706 |  | 429 |  | — |  | 1,898 |
Provision for income tax, net | 71 |  | (328 | ) | (90 | ) | — |  | (347 | )
Equity in net earnings of subsidiaries | 1,717 |  | — |  | — |  | (1,717 | ) | — |
Net earnings | $ | 1,551 |  | $ | 1,378 |  | $ | 339 |  | $ | (1,717 | ) | $ | 1,551 |
Comprehensive income | $ | 1,853 |  | $ | 1,385 |  | $ | 552 |  | $ | (1,937 | ) | $ | 1,853 |
Six Months Ended July 1, 2018 |  |  |  |  |
Revenue | $ | — |  | $ | 13,277 |  | $ | 3,444 |  | $ | — |  | $ | 16,721 |
Cost of sales | 28 |  | (10,677 | ) | (2,827 | ) | — |  | (13,476 | )
G&A | (58 | ) | (854 | ) | (237 | ) | — |  | (1,149 | )
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 |
CONDENSED CONSOLIDATING BALANCE SHEET (UNAUDITED)
June 30, 2019 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and equivalents | $ | 243 |  | $ | — |  | $ | 459 |  | $ | — |  | $ | 702 |
Accounts receivable | — |  | 1,260 |  | 2,413 |  | — |  | 3,673 |
Unbilled receivables | — |  | 2,864 |  | 4,690 |  | — |  | 7,554 |
Inventories | — |  | 6,350 |  | 130 |  | — |  | 6,480 |
Other current assets | (59 | ) | 648 |  | 559 |  | — |  | 1,148 |
Total current assets | 184 |  | 11,122 |  | 8,251 |  | — |  | 19,557 |
Noncurrent assets: |  |  |  |  |
Property, plant and equipment (PP&E) | 302 |  | 7,327 |  | 1,609 |  | — |  | 9,238 |
Accumulated depreciation of PP&E | (87 | ) | (4,175 | ) | (885 | ) | — |  | (5,147 | )
Intangible assets, net | — |  | 230 |  | 2,227 |  | — |  | 2,457 |
Goodwill | — |  | 7,960 |  | 11,702 |  | — |  | 19,662 |
Other assets | 194 |  | 1,015 |  | 1,098 |  | — |  | 2,307 |
Net investment in subsidiaries | 27,981 |  | — |  | — |  | (27,981 | ) | — |
Total noncurrent assets | 28,390 |  | 12,357 |  | 15,751 |  | (27,981 | ) | 28,517 |
Total assets | $ | 28,574 |  | $ | 23,479 |  | $ | 24,002 |  | $ | (27,981 | ) | $ | 48,074 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Short-term debt and current portion of long-term debt | $ | 4,741 |  | $ | — |  | $ | 219 |  | $ | — |  | $ | 4,960 |
Customer advances and deposits | — |  | 4,194 |  | 2,520 |  | — |  | 6,714 |
Other current liabilities | 564 |  | 4,036 |  | 1,740 |  | — |  | 6,340 |
Total current liabilities | 5,305 |  | 8,230 |  | 4,479 |  | — |  | 18,014 |
Noncurrent liabilities: |  |  |  |  |
Long-term debt | 8,918 |  | 42 |  | 15 |  | — |  | 8,975 |
Other liabilities | 1,474 |  | 4,583 |  | 2,151 |  | — |  | 8,208 |
Total noncurrent liabilities | 10,392 |  | 4,625 |  | 2,166 |  | — |  | 17,183 |
Total shareholders’ equity | 12,877 |  | 10,624 |  | 17,357 |  | (27,981 | ) | 12,877 |
Total liabilities and shareholders’ equity | $ | 28,574 |  | $ | 23,479 |  | $ | 24,002 |  | $ | (27,981 | ) | $ | 48,074 |
CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2018 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
ASSETS |  |  |  |  |
Current assets: |  |  |  |  |
Cash and equivalents | $ | 460 |  | $ | — |  | $ | 503 |  | $ | — |  | $ | 963 |
Accounts receivable | — |  | 1,171 |  | 2,588 |  | — |  | 3,759 |
Unbilled receivables | — |  | 2,758 |  | 3,818 |  | — |  | 6,576 |
Inventories | — |  | 5,855 |  | 122 |  | — |  | 5,977 |
Other current assets | (45 | ) | 441 |  | 518 |  | — |  | 914 |
Total current assets | 415 |  | 10,225 |  | 7,549 |  | — |  | 18,189 |
Noncurrent assets: |  |  |  |  |
PP&E | 273 |  | 7,177 |  | 1,522 |  | — |  | 8,972 |
Accumulated depreciation of PP&E | (83 | ) | (4,071 | ) | (840 | ) | — |  | (4,994 | )
Intangible assets, net | — |  | 251 |  | 2,334 |  | — |  | 2,585 |
Goodwill | — |  | 8,031 |  | 11,563 |  | — |  | 19,594 |
Other assets | 195 |  | 274 |  | 593 |  | — |  | 1,062 |
Net investment in subsidiaries | 25,313 |  | — |  | — |  | (25,313 | ) | — |
Total noncurrent assets | 25,698 |  | 11,662 |  | 15,172 |  | (25,313 | ) | 27,219 |
Total assets | $ | 26,113 |  | $ | 21,887 |  | $ | 22,721 |  | $ | (25,313 | ) | $ | 45,408 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Current liabilities: |  |  |  |  |
Short-term debt and current portion of long-term debt | $ | 850 |  | $ | — |  | $ | 123 |  | $ | — |  | $ | 973 |
Customer advances and deposits | — |  | 4,541 |  | 2,729 |  | — |  | 7,270 |
Other current liabilities | 552 |  | 3,944 |  | 2,000 |  | — |  | 6,496 |
Total current liabilities | 1,402 |  | 8,485 |  | 4,852 |  | — |  | 14,739 |
Noncurrent liabilities: |  |  |  |  |
Long-term debt | 11,398 |  | 39 |  | 7 |  | — |  | 11,444 |
Other liabilities | 1,581 |  | 4,073 |  | 1,839 |  | — |  | 7,493 |
Total noncurrent liabilities | 12,979 |  | 4,112 |  | 1,846 |  | — |  | 18,937 |
Total shareholders’ equity | 11,732 |  | 9,290 |  | 16,023 |  | (25,313 | ) | 11,732 |
Total liabilities and shareholders’ equity | $ | 26,113 |  | $ | 21,887 |  | $ | 22,721 |  | $ | (25,313 | ) | $ | 45,408 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (UNAUDITED)
Six Months Ended June 30, 2019 | Parent | Guarantors on a Combined Basis | Other Subsidiaries on a Combined Basis | Consolidating Adjustments | Total Consolidated
Net cash used by operating activities* | $ | 64 |  | $ | 166 |  | $ | (734 | ) | $ | — |  | $ | (504 | )
Cash flows from investing activities: |  |  |  |  |
Capital expenditures | (27 | ) | (238 | ) | (97 | ) | — |  | (362 | )
Other, net | 5 |  | 18 |  | (24 | ) | — |  | (1 | )
Net cash used by investing activities | (22 | ) | (220 | ) | (121 | ) | — |  | (363 | )
Cash flows from financing activities: |  |  |  |  |
Proceeds from commercial paper, net | 1,394 |  | — |  | — |  | — |  | 1,394 |
Dividends paid | (563 | ) | — |  | — |  | — |  | (563 | )
Purchases of common stock | (231 | ) | — |  | — |  | — |  | (231 | )
Other, net | (19 | ) | — |  | 49 |  | — |  | 30 |
Net cash provided by financing activities | 581 |  | — |  | 49 |  | — |  | 630 |
Net cash used by discontinued operations | (24 | ) | — |  | — |  | — |  | (24 | )
Cash sweep/funding by parent | (816 | ) | 54 |  | 762 |  | — |  | — |
Net decrease in cash and equivalents | (217 | ) | — |  | (44 | ) | — |  | (261 | )
Cash and equivalents at beginning of period | 460 |  | — |  | 503 |  | — |  | 963 |
Cash and equivalents at end of period | $ | 243 |  | $ | — |  | $ | 459 |  | $ | — |  | $ | 702 |
Six Months Ended July 1, 2018 |  |  |  |  |
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 |
* Continuing operations only.

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph d -Subparagraph 4 -Subsection 10 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph c -Subparagraph 4 -Subsection 10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph a -Subsection 04 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph e -Subparagraph 4 -Subsection 10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph f -Subparagraph 4 -Subsection 10 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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