Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Apr. 01, 2012

Condensed Consolidating Financial Statements [Abstract]

Condensed Consolidating Statements Of Earnings

Three Months Ended April 3, 2011	Parent			Guarantors on a Combined Basis			Other Subsidiaries on a Combined Basis		Consolidating Adjustments			Total Consolidated
Revenues	$	—		$	6,383		$	1,415	$	—		$	7,798
Cost of sales		(3	)		5,192			1,171		—			6,360
General and administrative expenses		22			375			112		—			509
Operating earnings		(19	)		816			132		—			929
Interest expense		(36	)		—			—		—			(36	)
Interest income		2			—			—		—			2
Other, net		1			(1	)		1		—			1
Earnings before income taxes		(52	)		815			133		—			896
Provision for income taxes		(15	)		259			34		—			278
Equity in net earnings of subsidiaries		655			—			—		(655	)		—
Net earnings	$	618		$	556		$	99	$	(655	)	$	618
Comprehensive income	$	797		$	583		$	232	$	(815	)	$	797
Three Months Ended April 1, 2012
Revenues	$	—		$	6,297		$	1,282	$	—		$	7,579
Cost of sales		(5	)		5,084			1,105		—			6,184
General and administrative expenses		22			412			101		—			535
Operating earnings		(17	)		801			76		—			860
Interest expense		(42	)		—			—		—			(42	)
Interest income		2			1			—		—			3
Other, net		—			—			—		—			—
Earnings before income taxes		(57	)		802			76		—			821
Provision for income taxes		(18	)		238			37		—			257
Equity in net earnings of subsidiaries		603			—			—		(603	)		—
Net earnings	$	564		$	564		$	39	$	(603	)	$	564
Comprehensive income	$	764		$	561		$	201	$	(762	)	$	764

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		319			247			223			—			789
Total current assets		2,141			7,190			6,037			—			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		265			247			330			—			842
Investment in subsidiaries		33,192			—			—			(33,192	)		—
Total noncurrent assets		33,561			12,902			6,244			(33,192	)		19,515
Total assets	$	35,702		$	20,092		$	12,281		$	(33,192	)	$	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		463			3,729			1,919			—			6,111
Total current liabilities		463			6,233			4,449			—			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		14,669			(15,240	)		571			—			—
Shareholders' equity:
Common stock		482			6			44			(50	)		482
Other shareholders' equity		12,750			26,543			6,599			(33,142	)		12,750
Total shareholders' equity		13,232			26,549			6,643			(33,192	)		13,232
Total liabilities and shareholders' equity	$	35,702		$	20,092		$	12,281		$	(33,192	)	$	34,883

CONDENSED CONSOLIDATING BALANCE SHEET

April 1, 2012	Parent			Guarantors on a Combined Basis			Other Subsidiaries on a Combined Basis			Consolidating Adjustments			Total Consolidated
ASSETS
Current assets:
Cash and equivalents	$	1,800		$	—		$	832		$	—		$	2,632
Accounts receivable		—			1,718			2,968			—			4,686
Contracts in process		330			3,088			1,511			—			4,929
Inventories
Work in process		—			1,296			14			—			1,310
Raw materials		—			904			137			—			1,041
Finished goods		—			40			44			—			84
Pre-owned aircraft		—			9			—			—			9
Other current assets		317			253			249			—			819
Total current assets		2,447			7,308			5,755			—			15,510
Noncurrent assets:
Property, plant and equipment		153			5,243			1,266			—			6,662
Accumulated depreciation of PP&E		(50	)		(2,675	)		(647	)		—			(3,372	)
Intangible assets		—			1,767			1,479			—			3,246
Accumulated amortization of intangible assets		—			(1,011	)		(452	)		—			(1,463	)
Goodwill		—			9,353			4,406			—			13,759
Other assets		360			274			333			—			967
Investment in subsidiaries		34,227			—			—			(34,227	)		—
Total noncurrent assets		34,690			12,951			6,385			(34,227	)		19,799
Total assets	$	37,137		$	20,259		$	12,140		$	(34,227	)	$	35,309
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Short-term debt	$	—		$	—		$	3		$	—		$	3
Customer advances and deposits		—			2,637			2,662			—			5,299
Other current liabilities		652			3,479			1,520			—			5,651
Total current liabilities		652			6,116			4,185			—			10,953
Noncurrent liabilities:
Long-term debt		3,896			8			1			—			3,905
Other liabilities		3,487			2,494			616			—			6,597
Total noncurrent liabilities		7,383			2,502			617			—			10,502
Intercompany		15,248			(15,703	)		455			—			—
Shareholders' equity:
Common stock		482			6			44			(50	)		482
Other shareholders' equity		13,372			27,338			6,839			(34,177	)		13,372
Total shareholders' equity		13,854			27,344			6,883			(34,227	)		13,854
Total liabilities and shareholders' equity	$	37,137		$	20,259		$	12,140		$	(34,227	)	$	35,309

Condensed Consolidating Statements Of Cash Flows

Three Months Ended April 3, 2011	Parent			Guarantors on a Combined Basis			Other Subsidiaries on a Combined Basis			Consolidating Adjustments		Total Consolidated
Net cash provided by operating activities	$	(71	)	$	636		$	(237	)	$	—	$	328
Cash flows from investing activities:
Purchases of available-for-sale securities		(142	)		(32	)		—			—		(174	)
Maturities of held-to-maturity securities		9			—			107			—		116
Other, net		(50	)		(17	)		(13	)		—		(80	)
Net cash used by investing activities		(183	)		(49	)		94			—		(138	)
Cash flows from financing activities:
Purchases of common stock		(314	)		—			—			—		(314	)
Dividends paid		(157	)		—			—			—		(157	)
Proceeds from option exercises		138			—			—			—		138
Other, net		15			—			—			—		15
Net cash used by financing activities		(318	)		—			—			—		(318	)
Net cash used by discontinued operations		—			—			(1	)		—		(1	)
Cash sweep/funding by parent		477			(587	)		110			—		—
Net decrease in cash and equivalents		(95	)		—			(34	)		—		(129	)
Cash and equivalents at beginning of period		1,608			—			1,005			—		2,613
Cash and equivalents at end of period	$	1,513		$	—		$	971		$	—	$	2,484
Three Months Ended April 1, 2012
Net cash provided by operating activities	$	(72	)	$	607		$	(121	)	$	—	$	414
Cash flows from investing activities:
Purchases of held-to-maturity securities		(126	)		—			—			—		(126	)
Capital expenditures		—			(75	)		(15	)		—		(90	)
Purchases of available-for-sale securities		(45	)		(20	)		—			—		(65	)
Other, net		23			20			(26	)		—		17
Net cash used by investing activities		(148	)		(75	)		(41	)		—		(264	)
Cash flows from financing activities:
Dividends paid		(169	)		—			—			—		(169	)
Proceeds from option exercises		78			—			—			—		78
Purchases of common stock		(76	)		—			—			—		(76	)
Other, net		21			(20	)		—			—		1
Net cash used by financing activities		(146	)		(20	)		—			—		(166	)
Net cash used by discontinued operations		—			—			(1	)		—		(1	)
Cash sweep/funding by parent		636			(512	)		(124	)		—		—
Net decrease in cash and equivalents		270			—			(287	)		—		(17	)
Cash and equivalents at beginning of period		1,530			—			1,119			—		2,649
Cash and equivalents at end of period	$	1,800		$	—		$	832		$	—	$	2,632