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Consolidated Statements of Earnings (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 29, 2013
Sep. 30, 2012
Sep. 29, 2013
Sep. 30, 2012
Net sales        
Products $ 8,859 $ 9,495 $ 26,570 $ 28,186
Services 2,488 2,374 7,255 6,897
Total net sales 11,347 11,869 33,825 35,083
Cost of sales        
Products (7,759) (8,413) (23,245) (24,844)
Services (2,202) (2,154) (6,473) (6,186)
Severance charges   (23) [1] (30) [1] (23) [1]
Other unallocated costs (202) (259) (628) (829)
Total cost of sales (10,163) (10,849) (30,376) (31,882)
Gross profit 1,184 1,020 3,449 3,201
Other income, net 70 117 222 172
Operating profit 1,254 1,137 3,671 3,373
Interest expense (84) (97) (264) (289)
Other non-operating income, net 3 6 2 30
Earnings from continuing operations before income taxes 1,173 1,046 3,409 3,114
Income tax expense (331) (319) (947) (938)
Net earnings from continuing operations 842 727 2,462 2,176
Net earnings from discontinued operations 31   31  
Net earnings $ 873 $ 727 $ 2,493 $ 2,176
Basic        
Continuing operations, in USD per common share $ 2.62 $ 2.25 $ 7.66 $ 6.72
Discontinued operations, in USD per common share $ 0.10   $ 0.10  
Basic earnings per common share in USD $ 2.72 $ 2.25 $ 7.76 $ 6.72
Diluted        
Continuing operations, in USD per common share $ 2.57 $ 2.21 $ 7.54 $ 6.62
Discontinued operations, in USD per common share $ 0.09   $ 0.09  
Diluted earnings per common share in USD $ 2.66 $ 2.21 $ 7.63 $ 6.62
Cash dividends paid per common share $ 1.15 $ 1.00 $ 3.45 $ 3.00
[1] Severance charges during the nine months ended September 29, 2013 consisted of amounts, net of state tax benefits, associated with the elimination of certain positions at our IS&GS business segment during the quarter ended March 31, 2013. Severance charges during the quarter and nine months ended September 30, 2012 consisted of amounts, net of state tax benefits, associated with the elimination of certain positions at our former Electronic Systems business segment (Note 8, under the caption "Severance Activities"). Severance charges for initiatives that are not significant are included in business segment operating profit.