Summary of Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2015

Summary of Quarterly Information (Unaudited)

Note 17 – Summary of Quarterly Information (Unaudited)

A summary of quarterly information is as follows (in millions, except per share data):

2015 Quarters

First

Second

Third

Fourth ^(a)

Net sales

$10,111

$11,643

$11,461

$12,917

Operating profit

1,356

1,445

1,354

1,281

Net earnings ^(b)

878

929

865

933

Basic earnings per share ^(c)

2.78

2.98

2.80

3.05

Diluted earnings per share

2.74

2.94

2.77

3.01

2014 Quarters

First

Second

Third

Fourth

Net sales

$10,650

$11,306

$11,114

$12,530

Operating profit

1,432

1,426

1,392

1,342

Net earnings ^(d)

933

889

888

904

Basic earnings per share

2.92

2.81

2.87

Diluted earnings per share

2.87

2.76

2.82

^(a)

The fourth quarter of 2015 incorporates the results of Sikorsky from the November 6, 2015 acquisition date through December 31, 2015, including approximately $400 million in net sales and about $45 million in operating loss, inclusive of intangible amortization and adjustments required to account for the acquisition.

^(b)	The fourth quarter of 2015 includes a charge for workforce reductions of approximately $67 million ($44 million after tax) and a tax benefit of about $71 million due to the retroactive reinstatement of the R&D tax credit in 2015.

^(c)	The sum of the quarterly earnings per share amounts do not equal the earnings per share amounts included on our Statements of Earnings, primarily due to the timing of our share repurchases during each respective year.

^(d)	The fourth quarter of 2014 includes a charge of approximately $119 million ($107 million after tax) related to a non-cash goodwill impairment charge and a tax benefit of about $45 million due to the retroactive reinstatement of the R&D tax credit in 2014.