XML 54 R39.htm IDEA: XBRL DOCUMENT v3.24.3

BUSINESS SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 27, 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 were as follows:

			Quarter Ended												Three Quarters Ended
(In millions)			September 27, 2024						September 29, 2023						September 27, 2024						September 29, 2023
Revenue
SAS			$	1,683					$	1,686					$	5,141					$	5,056
IMS			1,671						1,568						5,069						5,003
CS			1,382						1,255						4,022						3,707
AR			596						455						1,719						455
Corporate eliminations			(40)						(49)						(149)						(142)
Total revenue			$	5,292					$	4,915					$	15,802					$	14,079
Income before Income Taxes
Operating income:
SAS			$	195					$	210					$	626					$	565
IMS			204						187						600						534
CS			359						282						998						873
AR			75						56						222						56
Total segment			833						735						2,446						2,028
Total unallocated corporate expenses			(338)						(256)						(1,097)						(756)
Total operating income			495						479						1,349						1,272
Non-service FAS pension income and other, net			101						80						275						245
Interest expense, net			(166)						(159)						(514)						(372)
Income before income taxes			$	430					$	400					$	1,110					$	1,145

The table below is a reconciliation of the FAS/CAS operating adjustment:

			Quarter Ended												Three Quarters Ended
(In millions)			September 27, 2024						September 29, 2023						September 27, 2024						September 29, 2023
FAS pension service cost			$	(8)					$	(10)					$	(26)					$	(23)
Less: CAS pension cost			(15)						(37)						(46)						(95)
FAS/CAS operating adjustment			$	7					$	27					$	20					$	72

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
			September 27, 2024																								September 29, 2023
(In millions)			SAS						IMS						CS						AR						SAS						IMS						CS						AR
Revenue By Customer Relationship
Prime contractor			$	1,008					$	1,051					$	977					$	149					$	1,081					$	962					$	866					$	113
Subcontractor(1)			663						609						388						447						592						585						374						342
Intersegment			12						11						17						—						13						21						15						—
Total segment			$	1,683					$	1,671					$	1,382					$	596					$	1,686					$	1,568					$	1,255					$	455
Revenue By Contract Type
Fixed-price(2)			$	1,012					$	1,258					$	1,146					$	361					$	1,039					$	1,164					$	1,047					$	272
Cost-reimbursable			659						402						219						235						634						383						193						183
Intersegment			12						11						17						—						13						21						15						—
Total segment			$	1,683					$	1,671					$	1,382					$	596					$	1,686					$	1,568					$	1,255					$	455
Revenue By Geographical Region
United States			$	1,484					$	1,217					$	975					$	584					$	1,478					$	1,141					$	874					$	443
International			187						443						390						12						195						406						366						12
Intersegment			12						11						17						—						13						21						15						—
Total segment			$	1,683					$	1,671					$	1,382					$	596					$	1,686					$	1,568					$	1,255					$	455

			Three Quarters Ended
			September 27, 2024																								September 29, 2023
(In millions)			SAS						IMS						CS						AR						SAS						IMS						CS						AR
Revenue By Customer Relationship
Prime contractor			$	3,192					$	3,214					$	2,805					$	457					$	3,175					$	3,243					$	2,471					$	113
Subcontractor(1)			1,909						1,799						1,164						1,262						1,845						1,694						1,196						342
Intersegment			40						56						53						—						36						66						40						—
Total segment			$	5,141					$	5,069					$	4,022					$	1,719					$	5,056					$	5,003					$	3,707					$	455
Revenue By Contract Type
Fixed-price(2)			$	3,192					$	3,876					$	3,329					$	1,007					$	3,160					$	3,767					$	3,127					$	272
Cost-reimbursable			1,909						1,137						640						712						1,860						1,170						540						183
Intersegment			40						56						53						—						36						66						40						—
Total segment			$	5,141					$	5,069					$	4,022					$	1,719					$	5,056					$	5,003					$	3,707					$	455
Revenue By Geographical Region
United States			$	4,479					$	3,683					$	2,786					$	1,682					$	4,407					$	3,679					$	2,499					$	443
International			622						1,330						1,183						37						613						1,258						1,168						12
Intersegment			40						56						53						—						36						66						40						—
Total segment			$	5,141					$	5,069					$	4,022					$	1,719					$	5,056					$	5,003					$	3,707					$	455

_______________

(1)     Our subcontractor revenues includes products and services to contractors whose customers are the end user.

(2)     Includes revenue derived from time-and-materials contracts.

Schedule of Total Assets by Segment

Total assets by business segment were as follows:

(In millions)			September 27, 2024						December 29, 2023
SAS			$	8,836					$	9,085
IMS			10,932						10,631
CS			6,952						7,084
AR			4,540						4,208
Corporate(1)			10,629						10,679
Total Assets			$	41,889					$	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 $7.9 billion and $8.5 billion at September 27, 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.

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration