Inventories

3 Months Ended

Apr. 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:

	April 3, 2022		December 31, 2021
Work in process	$	3,865	$	3,654
Raw materials	1,645		1,651
Finished goods	25		22
Pre-owned aircraft	13		13
Total inventories	$	5,548	$	5,340