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Revenue (Tables) | 9 Months Ended
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Sep. 28, 2025
Revenue Recognition [Abstract] |
Schedule of Impact of Adjustments in Contract Estimates | The aggregate impact of adjustments in contract estimates changed our revenue, operating earnings and diluted earnings per share as follows:
| Three Months Ended | Nine Months Ended
| September 28, 2025 |  | September 29, 2024 | September 28, 2025 |  | September 29, 2024
Revenue | $ | 81 |  |  | $ | 62 |  | $ | 214 |  |  | $ | 211 |
Operating earnings | 57 |  |  | (12) |  | 119 |  |  | 101 |
Diluted earnings per share | $ | 0.17 |  |  | $ | (0.03) |  | $ | 0.35 |  |  | $ | 0.29 |
Revenue by Major Product Line | Revenue by major products and services was as follows:
| Three Months Ended | Nine Months Ended
| September 28, 2025 |  | September 29, 2024 | September 28, 2025 |  | September 29, 2024
Aircraft manufacturing | $ | 2,293 |  |  | $ | 1,686 |  | $ | 6,590 |  |  | $ | 5,014 |
Aircraft services | 941 |  |  | 796 |  | 2,732 |  |  | 2,492 |
Total Aerospace | 3,234 |  |  | 2,482 |  | 9,322 |  |  | 7,506 |
Nuclear-powered submarines | 3,166 |  |  | 2,630 |  | 9,054 |  |  | 7,496 |
Surface ships | 642 |  |  | 658 |  | 2,012 |  |  | 2,023 |
Repair and other services | 288 |  |  | 311 |  | 839 |  |  | 864 |
Total Marine Systems | 4,096 |  |  | 3,599 |  | 11,905 |  |  | 10,383 |
Military vehicles | 1,231 |  |  | 1,295 |  | 3,730 |  |  | 3,850 |
Weapons systems, armament and munitions | 742 |  |  | 658 |  | 2,169 |  |  | 2,033 |
Engineering and other services | 279 |  |  | 259 |  | 812 |  |  | 719 |
Total Combat Systems | 2,252 |  |  | 2,212 |  | 6,711 |  |  | 6,602 |
Information technology (IT) services | 2,229 |  |  | 2,220 |  | 6,912 |  |  | 6,556 |
C5ISR* solutions | 1,096 |  |  | 1,158 |  | 3,321 |  |  | 3,331 |
Total Technologies | 3,325 |  |  | 3,378 |  | 10,233 |  |  | 9,887 |
Total revenue | $ | 12,907 |  |  | $ | 11,671 |  | $ | 38,171 |  |  | $ | 34,378 |
*Command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance
Revenue by Contract Type | Revenue by contract type was as follows:
Three Months Ended September 28, 2025 | Aerospace |  | Marine Systems |  | Combat Systems |  | Technologies |  | Total Revenue
Fixed-price | $ | 2,968 |  |  | $ | 1,664 |  |  | $ | 1,930 |  |  | $ | 1,364 |  |  | $ | 7,926 |
Cost-reimbursement | — |  |  | 2,432 |  |  | 306 |  |  | 1,472 |  |  | 4,210 |
Time-and-materials | 266 |  |  | — |  |  | 16 |  |  | 489 |  |  | 771 |
Total revenue | $ | 3,234 |  |  | $ | 4,096 |  |  | $ | 2,252 |  |  | $ | 3,325 |  |  | $ | 12,907 |
Three Months Ended September 29, 2024 |  |  |  |  |  |  |  |  |
Fixed-price | $ | 2,250 |  |  | $ | 1,666 |  |  | $ | 1,957 |  |  | $ | 1,359 |  |  | $ | 7,232 |
Cost-reimbursement | — |  |  | 1,933 |  |  | 238 |  |  | 1,503 |  |  | 3,674 |
Time-and-materials | 232 |  |  | — |  |  | 17 |  |  | 516 |  |  | 765 |
Total revenue | $ | 2,482 |  |  | $ | 3,599 |  |  | $ | 2,212 |  |  | $ | 3,378 |  |  | $ | 11,671 |
Nine Months Ended September 28, 2025 | Aerospace |  | Marine Systems |  | Combat Systems |  | Technologies |  | Total Revenue
Fixed-price | $ | 8,527 |  |  | $ | 5,665 |  |  | $ | 5,731 |  |  | $ | 4,250 |  |  | $ | 24,173 |
Cost-reimbursement | — |  |  | 6,237 |  |  | 933 |  |  | 4,484 |  |  | 11,654 |
Time-and-materials | 795 |  |  | 3 |  |  | 47 |  |  | 1,499 |  |  | 2,344 |
Total revenue | $ | 9,322 |  |  | $ | 11,905 |  |  | $ | 6,711 |  |  | $ | 10,233 |  |  | $ | 38,171 |
Nine Months Ended September 29, 2024 |  |  |  |  |  |  |  |  |
Fixed-price | $ | 6,772 |  |  | $ | 4,893 |  |  | $ | 5,844 |  |  | $ | 4,033 |  |  | $ | 21,542 |
Cost-reimbursement | — |  |  | 5,489 |  |  | 706 |  |  | 4,350 |  |  | 10,545 |
Time-and-materials | 734 |  |  | 1 |  |  | 52 |  |  | 1,504 |  |  | 2,291 |
Total revenue | $ | 7,506 |  |  | $ | 10,383 |  |  | $ | 6,602 |  |  | $ | 9,887 |  |  | $ | 34,378 |
Revenue by Customer | Revenue by customer was as follows:
Three Months Ended September 28, 2025 | Aerospace |  | Marine Systems |  | Combat Systems |  | Technologies |  | Total Revenue
U.S. government: |  |  |  |  |  |  |  |  |
Department of War (DoW) | $ | 85 |  |  | $ | 4,050 |  |  | $ | 1,237 |  |  | $ | 1,953 |  |  | $ | 7,325 |
Non-DoW | — |  |  | 2 |  |  | 1 |  |  | 1,208 |  |  | 1,211 |
Foreign military sales (FMS) | 4 |  |  | 42 |  |  | 201 |  |  | 4 |  |  | 251 |
Total U.S. government | 89 |  |  | 4,094 |  |  | 1,439 |  |  | 3,165 |  |  | 8,787 |
U.S. commercial | 2,031 |  |  | — |  |  | 53 |  |  | 40 |  |  | 2,124 |
Non-U.S. government | 363 |  |  | 2 |  |  | 693 |  |  | 110 |  |  | 1,168 |
Non-U.S. commercial | 751 |  |  | — |  |  | 67 |  |  | 10 |  |  | 828 |
Total revenue | $ | 3,234 |  |  | $ | 4,096 |  |  | $ | 2,252 |  |  | $ | 3,325 |  |  | $ | 12,907 |
Three Months Ended September 29, 2024 |  |  |  |  |  |  |  |  |
U.S. government: |  |  |  |  |  |  |  |  |
DoW | $ | 83 |  |  | $ | 3,571 |  |  | $ | 1,274 |  |  | $ | 1,981 |  |  | $ | 6,909 |
Non-DoW | — |  |  | — |  |  | 1 |  |  | 1,238 |  |  | 1,239 |
FMS | 9 |  |  | 28 |  |  | 211 |  |  | 7 |  |  | 255 |
Total U.S. government | 92 |  |  | 3,599 |  |  | 1,486 |  |  | 3,226 |  |  | 8,403 |
U.S. commercial | 1,586 |  |  | — |  |  | 61 |  |  | 48 |  |  | 1,695 |
Non-U.S. government | 294 |  |  | — |  |  | 631 |  |  | 98 |  |  | 1,023 |
Non-U.S. commercial | 510 |  |  | — |  |  | 34 |  |  | 6 |  |  | 550 |
Total revenue | $ | 2,482 |  |  | $ | 3,599 |  |  | $ | 2,212 |  |  | $ | 3,378 |  |  | $ | 11,671 |
Nine Months Ended September 28, 2025 | Aerospace |  | Marine Systems |  | Combat Systems |  | Technologies |  | Total Revenue
U.S. government: |  |  |  |  |  |  |  |  |
DoW | $ | 240 |  |  | $ | 11,791 |  |  | $ | 3,654 |  |  | $ | 6,082 |  |  | $ | 21,767 |
Non-DoW | — |  |  | 2 |  |  | 6 |  |  | 3,648 |  |  | 3,656 |
FMS | 14 |  |  | 106 |  |  | 604 |  |  | 11 |  |  | 735 |
Total U.S. government | 254 |  |  | 11,899 |  |  | 4,264 |  |  | 9,741 |  |  | 26,158 |
U.S. commercial | 4,869 |  |  | 2 |  |  | 183 |  |  | 132 |  |  | 5,186 |
Non-U.S. government | 757 |  |  | 4 |  |  | 2,127 |  |  | 335 |  |  | 3,223 |
Non-U.S. commercial | 3,442 |  |  | — |  |  | 137 |  |  | 25 |  |  | 3,604 |
Total revenue | $ | 9,322 |  |  | $ | 11,905 |  |  | $ | 6,711 |  |  | $ | 10,233 |  |  | $ | 38,171 |
Nine Months Ended September 29, 2024 |  |  |  |  |  |  |  |  |
U.S. government: |  |  |  |  |  |  |  |  |
DoW | $ | 187 |  |  | $ | 10,280 |  |  | $ | 3,742 |  |  | $ | 5,767 |  |  | $ | 19,976 |
Non-DoW | — |  |  | 1 |  |  | 6 |  |  | 3,586 |  |  | 3,593 |
FMS | 30 |  |  | 98 |  |  | 675 |  |  | 28 |  |  | 831 |
Total U.S. government | 217 |  |  | 10,379 |  |  | 4,423 |  |  | 9,381 |  |  | 24,400 |
U.S. commercial | 4,225 |  |  | 2 |  |  | 180 |  |  | 146 |  |  | 4,553 |
Non-U.S. government | 989 |  |  | 2 |  |  | 1,890 |  |  | 326 |  |  | 3,207 |
Non-U.S. commercial | 2,075 |  |  | — |  |  | 109 |  |  | 34 |  |  | 2,218 |
Total revenue | $ | 7,506 |  |  | $ | 10,383 |  |  | $ | 6,602 |  |  | $ | 9,887 |  |  | $ | 34,378 |

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