XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.22.2

Inventories | 6 Months Ended
--- | ---
Jul. 03, 2022
Inventory Disclosure [Abstract] |
Inventories | INVENTORIES The majority of our inventories are for business jet aircraft. Our inventories are stated at the lower of cost or net realizable value. Work in process represents largely labor, material and overhead costs associated with aircraft in the manufacturing process and is based primarily on the estimated average unit cost in a production lot. Raw materials are valued primarily on the first-in, first-out method. We record pre-owned aircraft acquired in connection with the sale of new aircraft at the lower of the trade-in value or the estimated net realizable value. Inventories consisted of the following:
| July 3, 2022 |  | December 31, 2021
Work in process | $ | 4,287 |  |  | $ | 3,654 |
Raw materials | 1,715 |  |  | 1,651 |
Finished goods | 143 |  |  | 22 |
Pre-owned aircraft | 13 |  |  | 13 |
Total inventories | $ | 6,158 |  |  | $ | 5,340 |
The increase in total inventories during the six-month period ended July 3, 2022, was due primarily to increased production of in-service aircraft reflecting strong customer demand, as well as the ramp-up in production of new Gulfstream aircraft models announced in the last three years. Customer deposits associated with firm orders for these aircraft, which are reflected in customer advances and deposits and other noncurrent liabilities on the Consolidated Balance Sheet, have correspondingly increased. The increase in total inventories also included four Gulfstream aircraft that were not delivered in the second quarter due to an airworthiness directive (AD) issued by the U.S. Federal Aviation Administration (FAA) that placed limitations on permissible landing conditions for the G500 and G600 aircraft models. These four aircraft are expected to deliver in the third quarter. A software update has been developed to address the AD limitations and is undergoing FAA review.

X
- References No definition available. + Details
Name: | us-gaap_InventoryDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
Name: | us-gaap_InventoryDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration