ACQUISITIONS AND DIVESTITURES (Tables)

3 Months Ended

Mar. 27, 2016

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date, including the refinements described in the previous paragraph (in millions):

Cash and cash equivalents	$	75
Receivables		1,921
Inventories		1,768
Other current assets		25
Property, plant and equipment		654
Goodwill		2,764
Intangible assets:
Customer programs		3,099
Trademarks		887
Other noncurrent assets		513
Deferred income tax assets		297
Total identifiable assets and goodwill		12,003
Accounts payable		(565)
Customer advances and amounts in excess of costs incurred		(1,230)
Salaries, benefits and payroll taxes		(105)
Current maturities of long-term debt		(5)
Other current liabilities		(347)
Long-term debt		(11)
Customer contractual obligations(a)		(480)
Other noncurrent liabilities		(150)
Deferred income tax liabilities(a)		(32)
Total liabilities assumed		(2,925)
Total purchase price	$	9,078

^(a)  Recorded in Other noncurrent liabilities on the consolidated balance sheet.

Summary of Pro Forma Financial Information

The following table presents summarized unaudited pro forma financial information as if Sikorsky had been included in our financial results for the quarter ended March 29, 2015

(in millions):

	Quarter Ended March 29, 2015
Net sales		$    11,344
Net earnings		842
Basic earnings per common share		2.67
Diluted earnings per common share		2.63