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BUSINESS SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 29, 2024
Segment Reporting [Abstract] |
Schedule of Selected Financial Information by Business Segments | Segment revenue, segment operating income and a reconciliation of segment operating income to total income before income taxes are as follows:
|  |  | Quarter Ended
(In millions) |  |  |  |  | March 29, 2024 |  | March 31, 2023
Revenue |  |  |  |  |  |  |
SAS |  |  |  |  | $ | 1,751 |  |  | $ | 1,655 |
IMS |  |  |  |  | 1,669 |  |  | 1,700 |
CS |  |  |  |  | 1,294 |  |  | 1,163 |
AR |  |  |  |  | 542 |  |  | **
Corporate eliminations |  |  |  |  | (45) |  |  | (47) |
Total revenue |  |  |  |  | $ | 5,211 |  |  | $ | 4,471 |
Income before Income Taxes |  |  |  |  |  |  |
Operating income: |  |  |  |  |  |  |
SAS |  |  |  |  | $ | 216 |  |  | $ | 187 |
IMS |  |  |  |  | 190 |  |  | 185 |
CS |  |  |  |  | 310 |  |  | 266 |
AR |  |  |  |  | 72 |  |  | **
Total segment |  |  |  |  | 788 |  |  | 638 |
Total unallocated corporate expenses |  |  |  |  | (410) |  |  | (245) |
Total operating income |  |  |  |  | 378 |  |  | 393 |
Non-service FAS pension income and other, net |  |  |  |  | 88 |  |  | 82 |
Interest expense, net |  |  |  |  | (176) |  |  | (102) |
Income before income taxes |  |  |  |  | $ | 290 |  |  | $ | 373 |
_______________ ** AR is a reportable segment established during the quarter ended September 29, 2023, which consists of operations of AJRD. As such, there is no comparable prior year information. The table below is a reconciliation of the FAS/CAS operating adjustment:
|  |  | Quarter Ended
(In millions) |  |  |  |  | March 29, 2024 |  | March 31, 2023
FAS pension service cost |  |  |  |  | $ | (8) |  |  | $ | (6) |
Less: CAS pension cost |  |  |  |  | (15) |  |  | (28) |
FAS/CAS operating adjustment |  |  |  |  | 7 |  |  | 22 |
Non-service FAS pension income |  |  |  |  | 80 |  |  | 77 |
FAS/CAS pension adjustment, net |  |  |  |  | $ | 87 |  |  | $ | 99 |
Schedule of Disaggregation of Revenue by Segment | Disaggregation of Revenue We disaggregate revenue for all four business segments by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
| Quarter Ended
| March 29, 2024 |  | March 31, 2023
(In millions) | SAS |  | IMS |  | CS |  | AR |  | SAS |  | IMS |  | CS |  | AR
Revenue By Customer Relationship
Prime contractor | $ | 1,108 |  |  | $ | 1,066 |  |  | $ | 913 |  |  | $ | 153 |  |  | $ | 1,010 |  |  | $ | 1,154 |  |  | $ | 807 |  |  | **
Subcontractor | 628 |  |  | 587 |  |  | 367 |  |  | 389 |  |  | 632 |  |  | 525 |  |  | 343 |  |  | **
Intersegment | 15 |  |  | 16 |  |  | 14 |  |  | — |  |  | 13 |  |  | 21 |  |  | 13 |  |  | **
Total segment | $ | 1,751 |  |  | $ | 1,669 |  |  | $ | 1,294 |  |  | $ | 542 |  |  | $ | 1,655 |  |  | $ | 1,700 |  |  | $ | 1,163 |  |  | **
Revenue By Contract Type
Fixed-price(1) | $ | 1,108 |  |  | $ | 1,278 |  |  | $ | 1,065 |  |  | $ | 302 |  |  | $ | 1,022 |  |  | $ | 1,286 |  |  | $ | 978 |  |  | **
Cost-reimbursable | 628 |  |  | 375 |  |  | 215 |  |  | 240 |  |  | 620 |  |  | 393 |  |  | 172 |  |  | **
Intersegment | 15 |  |  | 16 |  |  | 14 |  |  | — |  |  | 13 |  |  | 21 |  |  | 13 |  |  | **
Total segment | $ | 1,751 |  |  | $ | 1,669 |  |  | $ | 1,294 |  |  | $ | 542 |  |  | $ | 1,655 |  |  | $ | 1,700 |  |  | $ | 1,163 |  |  | **
Revenue By Geographical Region
United States | $ | 1,507 |  |  | $ | 1,203 |  |  | $ | 925 |  |  | $ | 527 |  |  | $ | 1,454 |  |  | $ | 1,257 |  |  | $ | 791 |  |  | **
International | 229 |  |  | 450 |  |  | 355 |  |  | 15 |  |  | 188 |  |  | 422 |  |  | 359 |  |  | **
Intersegment | 15 |  |  | 16 |  |  | 14 |  |  | — |  |  | 13 |  |  | 21 |  |  | 13 |  |  | **
Total segment | $ | 1,751 |  |  | $ | 1,669 |  |  | $ | 1,294 |  |  | $ | 542 |  |  | $ | 1,655 |  |  | $ | 1,700 |  |  | $ | 1,163 |  |  | **
_______________ ** AR is a reportable segment established during the quarter ended September 29, 2023, which consists of operations of AJRD. As such, there is no comparable prior year information. (1)Includes revenue derived from time-and-materials contracts.
Schedule of Total Assets by Segment | Total assets by business segment are as follows:
(In millions) | March 29, 2024 |  | December 29, 2023
SAS | $ | 9,111 |  |  | $ | 9,085 |
IMS | 10,876 |  |  | 10,631 |
CS | 7,019 |  |  | 7,084 |
AR | 4,295 |  |  | 4,208 |
Corporate(1) | 10,515 |  |  | 10,679 |
Total Assets | $ | 41,816 |  |  | $ | 41,687 |
_______________ (1)Identifiable intangible assets acquired in connection with business combinations were recorded as corporate assets because they benefited the entire Company. Identifiable intangible asset balances recorded as corporate assets were $8.3 billion and $8.5 billion at March 29, 2024 and December 29, 2023, respectively. Corporate assets also consisted of cash, income taxes receivable, deferred income taxes, deferred compensation plan investments, buildings and equipment, real estate held for development and leasing, as well as any assets of businesses held for sale.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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