INFORMATION ON BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 28, 2021

Summary of Operating Results and Total Assets for Each Business Segment

Summary operating results for each of our business segments were as follows (in millions):



	Quarters Ended
	March 28, 2021		March 29, 2020
Net sales
Aeronautics	$	6,387	$	6,369
Missiles and Fire Control	2,749		2,619
Rotary and Mission Systems	4,107		3,746
Space	3,015		2,917
Total net sales	$	16,258	$	15,651
Operating profit
Aeronautics	$	693	$	672
Missiles and Fire Control	396		396
Rotary and Mission Systems	433		376
Space	227		281
Total business segment operating profit	1,749		1,725
Unallocated items
FAS/CAS operating adjustment	489		469
Stock-based compensation	(47)		(42)

Severance and restructuring charges	(36)		—
Other, net	27		(30)
Total unallocated items	433		397
Total consolidated operating profit	$	2,182	$	2,122
Intersegment sales
Aeronautics	$	53	$	59
Missiles and Fire Control	129		136
Rotary and Mission Systems	478		499
Space	82		108
Total intersegment sales	$	742	$	802

Our total net FAS/CAS pension adjustment for the quarters ended March 28, 2021 and March 29, 2020, including the service and non-service cost components of FAS pension income for our qualified defined benefit pension plans, were as follows (in millions):


	Quarters Ended
	March 28, 2021		March 29, 2020
Total FAS income and CAS costs
FAS pension income	$	66	$	30
Less: CAS pension cost	516		494
Net FAS/CAS pension adjustment	$	582	$	524

Service and non-service cost reconciliation
FAS pension service cost	$	(27)	$	(25)
Less: CAS pension cost	516		494
FAS/CAS operating adjustment	489		469
Non-operating FAS pension income	93		55
Net FAS/CAS pension adjustment	$	582	$	524

Net sales by products and services, contract type, customer, and geographic region were as follows (in millions):


	Quarter Ended March 28, 2021
	Aeronautics		MFC		RMS		Space		Total
Net sales
Products	$	5,479	$	2,410	$	3,300	$	2,564	$	13,753
Services	908		339		807		451		2,505
Total net sales	$	6,387	$	2,749	$	4,107	$	3,015	$	16,258
Net sales by contract type
Fixed-price	$	4,734	$	1,878	$	2,677	$	614	$	9,903
Cost-reimbursable	1,653		871		1,430		2,401		6,355
Total net sales	$	6,387	$	2,749	$	4,107	$	3,015	$	16,258
Net sales by customer
U.S. Government	$	4,273	$	2,041	$	2,810	$	2,551	$	11,675
International (a)	2,099		703		1,220		457		4,479
U.S. commercial and other	15		5		77		7		104
Total net sales	$	6,387	$	2,749	$	4,107	$	3,015	$	16,258
Net sales by geographic region
United States	$	4,288	$	2,046	$	2,887	$	2,558	$	11,779
Asia Pacific	893		51		650		2		1,596
Europe	854		182		201		455		1,692
Middle East	284		458		170		—		912
Other	68		12		199		—		279
Total net sales	$	6,387	$	2,749	$	4,107	$	3,015	$	16,258


	Quarter Ended March 29, 2020
	Aeronautics		MFC		RMS		Space		Total
Net sales
Products	$	5,455	$	2,275	$	2,986	$	2,450	$	13,166
Services	914		344		760		467		2,485
Total net sales	$	6,369	$	2,619	$	3,746	$	2,917	$	15,651
Net sales by contract type
Fixed-price	$	4,584	$	1,718	$	2,482	$	519	$	9,303
Cost-reimbursable	1,785		901		1,264		2,398		6,348
Total net sales	$	6,369	$	2,619	$	3,746	$	2,917	$	15,651
Net sales by customer
U.S. Government	$	4,033	$	1,955	$	2,788	$	2,483	$	11,259
International (a)	2,321		660		855		420		4,256
U.S. commercial and other	15		4		103		14		136
Total net sales	$	6,369	$	2,619	$	3,746	$	2,917	$	15,651
Net sales by geographic region
United States	$	4,048	$	1,959	$	2,891	$	2,497	$	11,395
Asia Pacific	995		75		318		28		1,416
Europe	948		168		167		398		1,681
Middle East	328		407		207		(6)		936
Other	50		10		163		—		223
Total net sales	$	6,369	$	2,619	$	3,746	$	2,917	$	15,651

(a)International sales include FMS contracted through the U.S. Government and direct commercial sales to international governments and other international customers.

Total assets for each of our business segments were as follows (in millions):


	March 28, 2021		December 31, 2020
Assets
Aeronautics	$	10,709	$	9,903
Missiles and Fire Control	5,058		4,966
Rotary and Mission Systems	17,885		18,035
Space	6,850		6,451
Total business segment assets	40,502		39,355
Corporate assets (a)	10,935		11,355
Total assets	$	51,437	$	50,710

(a)Corporate assets primarily include cash and cash equivalents, deferred income taxes, assets for the portion of environmental costs that are probable of future recovery and investments held in a separate trust.