XML 62 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Earnings (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Net sales      
Products $ 37,817 $ 36,925 $ 36,380
Services 9,365 9,574 9,291
Total net sales 47,182 46,499 45,671
Cost of sales      
Products (33,495) (32,968) (32,539)
Services (8,383) (8,514) (8,382)
Severance and other charges (48) [1] (136) [1] (220) [1]
Other unallocated costs (1,060) (1,137) (686)
Total cost of sales (42,986) (42,755) (41,827)
Gross profit 4,196 3,744 3,844
Other income, net 238 276 261
Operating profit 4,434 4,020 4,105
Interest expense (383) (354) (345)
Other non-operating income (expense), net 21 (35) 18
Earnings from continuing operations before income taxes 4,072 3,631 3,778
Income tax expense (1,327) (964) (1,164)
Net earnings from continuing operations 2,745 2,667 2,614
Net (loss) earnings from discontinued operations   (12) 264
Net earnings $ 2,745 $ 2,655 $ 2,878
Basic      
Continuing operations, in USD per common share $ 8.48 $ 7.94 $ 7.18
Discontinued operations, in USD per common share   $ (0.04) $ 0.72
Basic earnings per common share in USD $ 8.48 $ 7.90 $ 7.90
Diluted      
Continuing operations, in USD per common share $ 8.36 $ 7.85 $ 7.10
Discontinued operations, in USD per common share   $ (0.04) $ 0.71
Diluted earnings per common share in USD $ 8.36 $ 7.81 $ 7.81
[1] Severance and other charges include the severance charges recorded in 2012 associated with our Aeronautics business segment and the reorganization of our former Electronic Systems business segment; for 2011, include the severance charges associated with our Aeronautics, IS&GS, and Space Systems business segments, and Corporate Headquarters; and for 2010, include the charges related to the VESP and the facilities consolidation within our MST business segment (Note 13). Severance charges for initiatives that are not significant are included in business segment operating profit.