Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2012

Consolidating Financial Statements [Abstract]

Condensed Consolidating Statements of Earnings

CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS

Three Months Ended October 2, 2011	Parent			Guarantors on a Combined Basis			Other Subsidiaries on a Combined Basis			Consolidating Adjustments			Total Consolidated
Revenues	$	—		$	6,262		$	1,591		$	—		$	7,853
Cost of sales	(2		)	5,059			1,306			—			6,363
General and administrative expenses	23			368			101			—			492
Operating earnings	(21		)	835			184			—			998
Interest expense	(40		)	(1		)	—			—			(41		)
Interest income	1			2			—			—			3
Other, net	1			(12		)	3			—			(8		)
Earnings before income taxes	(59		)	824			187			—			952
Provision for income taxes	(21		)	267			41			—			287
Discontinued operations, net of tax	(13		)	—			—			—			(13		)
Equity in net earnings of subsidiaries	703			—			—			(703		)	—
Net earnings	$	652		$	557		$	146		$	(703	)	$	652
Comprehensive income	$	171		$	541		$	(336	)	$	(205	)	$	171
Three Months Ended September 30, 2012
Revenues	$	—		$	6,684		$	1,250		$	—		$	7,934
Cost of sales	(7		)	5,476			1,050			—			6,519
General and administrative expenses	22			388			100			—			510
Operating earnings	(15		)	820			100			—			905
Interest expense	(40		)	—			—			—			(40		)
Interest income	2			(2		)	1			—			1
Other, net	(2		)	1			(2		)	—			(3		)
Earnings before income taxes	(55		)	819			99			—			863
Provision for income taxes	(12		)	244			31			—			263
Equity in net earnings of subsidiaries	643			—			—			(643		)	—
Net earnings	$	600		$	575		$	68		$	(643	)	$	600
Comprehensive income	$	745		$	577		$	170		$	(747	)	$	745

CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS

Nine Months Ended October 2, 2011	Parent			Guarantors on a Combined Basis			Other Subsidiaries on a Combined Basis			Consolidating Adjustments			Total Consolidated
Revenues	$	—		$	19,007		$	4,523		$	—		$	23,530
Cost of sales	(7		)	15,399			3,756			—			19,148
General and administrative expenses	67			1,118			321			—			1,506
Operating earnings	(60		)	2,490			446			—			2,876
Interest expense	(112		)	(3		)	—			—			(115		)
Interest income	8			3			1			—			12
Other, net	2			30			2			—			34
Earnings before income taxes	(162		)	2,520			449			—			2,807
Provision for income taxes	(53		)	790			121			—			858
Discontinued operations, net of tax	(26		)	—			—			—			(26		)
Equity in net earnings of subsidiaries	2,058			—			—			(2,058		)	—
Net earnings	$	1,923		$	1,730		$	328		$	(2,058	)	$	1,923
Comprehensive income	$	1,918		$	1,740		$	257		$	(1,997	)	$	1,918
Nine Months Ended September 30, 2012
Revenues	$	—		$	19,485		$	3,950		$	—		$	23,435
Cost of sales	(16		)	15,834			3,312			—			19,130
General and administrative expenses	66			1,196			308			—			1,570
Operating earnings	(50		)	2,455			330			—			2,735
Interest expense	(123		)	—			(1		)	—			(124		)
Interest income	5			1			3			—			9
Other, net	—			(5		)	(3		)	—			(8		)
Earnings before income taxes	(168		)	2,451			329			—			2,612
Provision for income taxes	(74		)	790			98			—			814
Equity in net earnings of subsidiaries	1,892			—			—			(1,892		)	—
Net earnings	$	1,798		$	1,661		$	231		$	(1,892	)	$	1,798
Comprehensive income	$	1,953		$	1,659		$	273		$	(1,932	)	$	1,953

Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2011	Parent			Guarantors on a Combined Basis			Other Subsidiaries on a Combined Basis			Consolidating Adjustments			Total Consolidated
ASSETS
Current assets:
Cash and equivalents	$	1,530		$	—		$	1,119		$	—		$	2,649
Accounts receivable	—			1,659			2,793			—			4,452
Contracts in process	292			3,182			1,694			—			5,168
Inventories
Work in process	—			1,168			34			—			1,202
Raw materials	—			898			133			—			1,031
Finished goods	—			36			41			—			77
Other current assets	320			247			222			—			789
Total current assets	2,142			7,190			6,036			—			15,368
Noncurrent assets:
Property, plant and equipment	153			5,181			1,184			—			6,518
Accumulated depreciation of PP&E	(49		)	(2,604		)	(581		)	—			(3,234		)
Intangible assets	—			1,767			1,452			—			3,219
Accumulated amortization of intangible assets	—			(976		)	(430		)	—			(1,406		)
Goodwill	—			9,287			4,289			—			13,576
Other assets	10			629			203			—			842
Investment in subsidiaries	33,450			—			—			(33,450		)	—
Total noncurrent assets	33,564			13,284			6,117			(33,450		)	19,515
Total assets	$	35,706		$	20,474		$	12,153		$	(33,450	)	$	34,883
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt	$	—		$	21		$	2		$	—		$	23
Customer advances and deposits	—			2,483			2,528			—			5,011
Other current liabilities	537			3,729			1,845			—			6,111
Total current liabilities	537			6,233			4,375			—			11,145
Noncurrent liabilities:
Long-term debt	3,895			9			3			—			3,907
Other liabilities	3,443			2,541			615			—			6,599
Total noncurrent liabilities	7,338			2,550			618			—			10,506
Intercompany	14,599			(15,240		)	641			—			—
Shareholders' equity:
Common stock	482			6			44			(50		)	482
Other shareholders' equity	12,750			26,925			6,475			(33,400		)	12,750
Total shareholders' equity	13,232			26,931			6,519			(33,450		)	13,232
Total liabilities and shareholders' equity	$	35,706		$	20,474		$	12,153		$	(33,450	)	$	34,883

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2012	Parent			Guarantors on a Combined Basis			Other Subsidiaries on a Combined Basis			Consolidating Adjustments			Total Consolidated
ASSETS
Current assets:
Cash and equivalents	$	1,987		$	—		$	887		$	—		$	2,874
Accounts receivable	—			1,390			2,949			—			4,339
Contracts in process	421			3,176			1,434			—			5,031
Inventories
Work in process	—			1,441			16			—			1,457
Raw materials	—			952			113			—			1,065
Finished goods	—			34			48			—			82
Pre-owned aircraft	—			57			—			—			57
Other current assets	197			239			252			—			688
Total current assets	2,605			7,289			5,699			—			15,593
Noncurrent assets:
Property, plant and equipment	154			5,445			1,281			—			6,880
Accumulated depreciation of PP&E	(54		)	(2,792		)	(689		)	—			(3,535		)
Intangible assets	—			1,857			1,456			—			3,313
Accumulated amortization of intangible assets	—			(1,082		)	(497		)	—			(1,579		)
Goodwill	—			9,637			4,349			—			13,986
Other assets	2			668			175			—			845
Investment in subsidiaries	35,597			—			—			(35,597		)	—
Total noncurrent assets	35,699			13,733			6,075			(35,597		)	19,910
Total assets	$	38,304		$	21,022		$	11,774		$	(35,597	)	$	35,503
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt	$	1,000		$	—		$	1		$	—		$	1,001
Customer advances and deposits	—			2,954			2,569			—			5,523
Other current liabilities	549			3,694			1,426			—			5,669
Total current liabilities	1,549			6,648			3,996			—			12,193
Noncurrent liabilities:
Long-term debt	2,897			27			—			—			2,924
Other liabilities	3,137			2,358			619			—			6,114
Total noncurrent liabilities	6,034			2,385			619			—			9,038
Intercompany	16,449			(16,805		)	356			—			—
Shareholders' equity:
Common stock	482			6			44			(50		)	482
Other shareholders' equity	13,790			28,788			6,759			(35,547		)	13,790
Total shareholders' equity	14,272			28,794			6,803			(35,597		)	14,272
Total liabilities and shareholders' equity	$	38,304		$	21,022		$	11,774		$	(35,597	)	$	35,503

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

Nine Months Ended October 2, 2011	Parent			Guarantors on a Combined Basis			Other Subsidiaries on a Combined Basis			Consolidating Adjustments		Total Consolidated
Net cash provided by operating activities	$	(305	)	$	1,708		$	(187	)	$	—	$	1,216
Cash flows from investing activities:
Business acquisitions, net of cash acquired	—			(1,143		)	—			—		(1,143		)
Purchases of held-to-maturity securities	(428		)	—			—			—		(428		)
Maturities of held-to-maturity securities	215			—			107			—		322
Purchases of available-for-sale securities	(264		)	(86		)	—			—		(350		)
Other, net	232			(39		)	(51		)	—		142
Net cash used by investing activities	(245		)	(1,268		)	56			—		(1,457		)
Cash flows from financing activities:
Proceeds from fixed-rate notes	1,497			—			—			—		1,497
Purchases of common stock	(1,449		)	—			—			—		(1,449		)
Repayment of fixed-rate notes	(750		)	—			—			—		(750		)
Dividends paid	(504		)	—			—			—		(504		)
Net proceeds from commercial paper	200			—			—			—		200
Other, net	203			(20		)	(3		)	—		180
Net cash used by financing activities	(803		)	(20		)	(3		)	—		(826		)
Net cash used by discontinued operations	(6		)	—			—			—		(6		)
Cash sweep/funding by parent	433			(420		)	(13		)	—		—
Net decrease in cash and equivalents	(926		)	—			(147		)	—		(1,073		)
Cash and equivalents at beginning of period	1,608			—			1,005			—		2,613
Cash and equivalents at end of period	$	682		$	—		$	858		$	—	$	1,540
Nine Months Ended September 30, 2012
Net cash provided by operating activities	$	(523	)	$	2,275		$	155		$	—	$	1,907
Cash flows from investing activities:
Business acquisitions, net of cash acquired	(101		)	(299		)	(26		)	—		(426		)
Capital expenditures	(1		)	(251		)	(34		)	—		(286		)
Purchases of held-to-maturity securities	(260		)	—			—			—		(260		)
Sales of held-to-maturity securities	211			—			—			—		211
Purchases of available-for-sale securities	(140		)	(61		)	—			—		(201		)
Other, net	233			61			—			—		294
Net cash used by investing activities	(58		)	(550		)	(60		)	—		(668		)
Cash flows from financing activities:
Purchases of common stock	(602		)	—			—			—		(602		)
Dividends paid	(533		)	—			—			—		(533		)
Proceeds from option exercises	121			—			—			—		121
Other, net	24			(20		)	(2		)	—		2
Net cash used by financing activities	(990		)	(20		)	(2		)	—		(1,012		)
Net cash used by discontinued operations	(2		)	—			—			—		(2		)
Cash sweep/funding by parent	2,030			(1,705		)	(325		)	—		—
Net increase in cash and equivalents	457			—			(232		)	—		225
Cash and equivalents at beginning of period	1,530			—			1,119			—		2,649
Cash and equivalents at end of period	$	1,987		$	—		$	887		$	—	$	2,874