ACQUISITIONS AND DIVESTITURES (Tables)

6 Months Ended

Jun. 26, 2016

Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary 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		1,758
Other current assets		25
Property, plant and equipment		653
Goodwill		2,807
Intangible assets:
Customer programs		3,099
Trademarks		887
Other noncurrent assets		507
Deferred income tax assets		265
Total identifiable assets and goodwill		11,997
Accounts payable		(565	)
Customer advances and amounts in excess of costs incurred		(1,229	)
Salaries, benefits and payroll taxes		(105	)
Other current liabilities		(344	)
Customer contractual obligations(a)		(480	)
Other noncurrent liabilities		(158	)
Deferred income tax liabilities(a)		(38	)
Total liabilities assumed		(2,919	)
Total purchase price	$	9,078

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

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 and six months ended June 28, 2015 (in millions):

	Quarter Ended June 28, 2015		Six Months Ended June 28, 2015
Net sales		$  13,309		$ 24,653
Net earnings		935		1,777
Basic earnings per common share		3.00		5.66
Diluted earnings per common share		2.96		5.58