2015 Q3 Form 10-Q Financial Statement
#000113342115000057 Filed on October 28, 2015
Income Statement
Concept | 2015 Q3 | 2014 Q3 |
---|---|---|
Revenue | $5.979B | $5.984B |
YoY Change | -0.08% | -2.0% |
Cost Of Revenue | $1.889B | $2.021B |
YoY Change | -6.53% | -10.65% |
Gross Profit | $4.090B | $3.963B |
YoY Change | 3.2% | 3.1% |
Gross Profit Margin | 68.41% | 66.23% |
Selling, General & Admin | $663.0M | $580.0M |
YoY Change | 14.31% | 4.5% |
% of Gross Profit | 16.21% | 14.64% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $113.0M | $105.0M |
YoY Change | 7.62% | -12.5% |
% of Gross Profit | 2.76% | 2.65% |
Operating Expenses | $663.0M | $580.0M |
YoY Change | 14.31% | 4.5% |
Operating Profit | $794.0M | $769.0M |
YoY Change | 3.25% | -2.66% |
Interest Expense | -$75.00M | -$69.00M |
YoY Change | 8.7% | -1.43% |
% of Operating Profit | -9.45% | -8.97% |
Other Income/Expense, Net | $10.00M | -$6.000M |
YoY Change | -266.67% | |
Pretax Income | $729.0M | $694.0M |
YoY Change | 5.04% | -3.61% |
Income Tax | $213.0M | $221.0M |
% Of Pretax Income | 29.22% | 31.84% |
Net Earnings | $516.0M | $473.0M |
YoY Change | 9.09% | -4.83% |
Net Earnings / Revenue | 8.63% | 7.9% |
Basic Earnings Per Share | $2.78 | $2.29 |
Diluted Earnings Per Share | $2.75 | $2.26 |
COMMON SHARES | ||
Basic Shares Outstanding | 185.8M shares | 206.2M shares |
Diluted Shares Outstanding | 187.9M shares | 209.2M shares |
Balance Sheet
Concept | 2015 Q3 | 2014 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.292B | $3.402B |
YoY Change | -62.02% | -31.19% |
Cash & Equivalents | $1.292B | $3.402B |
Short-Term Investments | ||
Other Short-Term Assets | $199.0M | $290.0M |
YoY Change | -31.38% | 9.85% |
Inventory | $856.0M | $671.0M |
Prepaid Expenses | ||
Receivables | $3.268B | $3.233B |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $5.951B | $8.122B |
YoY Change | -26.73% | -15.32% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $3.005B | $2.845B |
YoY Change | 5.62% | 2.97% |
Goodwill | $12.46B | $12.46B |
YoY Change | -0.04% | 0.2% |
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $1.200B | $1.484B |
YoY Change | -19.14% | 10.83% |
Total Long-Term Assets | $18.02B | $16.92B |
YoY Change | 6.47% | -5.01% |
TOTAL ASSETS | ||
Total Short-Term Assets | $5.951B | $8.122B |
Total Long-Term Assets | $18.02B | $16.92B |
Total Assets | $23.97B | $25.04B |
YoY Change | -4.3% | -8.62% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.194B | $1.193B |
YoY Change | 0.08% | -2.29% |
Accrued Expenses | $1.208B | $1.225B |
YoY Change | -1.39% | 15.78% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $5.133B | $5.511B |
YoY Change | -6.86% | -4.36% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $6.417B | $5.926B |
YoY Change | 8.29% | -0.03% |
Other Long-Term Liabilities | $941.0M | $938.0M |
YoY Change | 0.32% | -4.77% |
Total Long-Term Liabilities | $941.0M | $938.0M |
YoY Change | 0.32% | -4.77% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $5.133B | $5.511B |
Total Long-Term Liabilities | $941.0M | $938.0M |
Total Liabilities | $18.27B | $15.15B |
YoY Change | 20.59% | -16.06% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $10.61B | $12.57B |
YoY Change | -15.56% | 3.05% |
Common Stock | $183.0M | $203.0M |
YoY Change | -9.85% | -88.08% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $5.697B | $9.893B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $23.97B | $25.04B |
YoY Change | -4.3% | -8.62% |
Cashflow Statement
Concept | 2015 Q3 | 2014 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $516.0M | $473.0M |
YoY Change | 9.09% | -4.83% |
Depreciation, Depletion And Amortization | $113.0M | $105.0M |
YoY Change | 7.62% | -12.5% |
Cash From Operating Activities | $557.0M | $933.0M |
YoY Change | -40.3% | -1.79% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$102.0M | -$109.0M |
YoY Change | -6.42% | 21.11% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $38.00M | $0.00 |
YoY Change | -100.0% | |
Cash From Investing Activities | -$64.00M | -$109.0M |
YoY Change | -41.28% | 25.29% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -1.108B | -898.0M |
YoY Change | 23.39% | 9.11% |
NET CHANGE | ||
Cash From Operating Activities | 557.0M | 933.0M |
Cash From Investing Activities | -64.00M | -109.0M |
Cash From Financing Activities | -1.108B | -898.0M |
Net Change In Cash | -615.0M | -74.00M |
YoY Change | 731.08% | -285.0% |
FREE CASH FLOW | ||
Cash From Operating Activities | $557.0M | $933.0M |
Capital Expenditures | -$102.0M | -$109.0M |
Free Cash Flow | $659.0M | $1.042B |
YoY Change | -36.76% | 0.19% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2015 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2015-09-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001133421 | ||
CY2015Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
182383040 | shares |
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
NORTHROP GRUMMAN CORP /DE/ | ||
dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | ||
dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
Yes | ||
CY2014Q4 | invest |
Derivative Notional Amount
DerivativeNotionalAmount
|
146000000 | USD |
CY2015Q3 | invest |
Derivative Notional Amount
DerivativeNotionalAmount
|
120000000 | USD |
CY2014Q4 | noc |
Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax And Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTaxAndAccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
|
1000000 | USD |
CY2015Q3 | noc |
Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax And Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTaxAndAccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
|
1000000 | USD |
CY2014Q2 | noc |
Increase Decreasein Stock Dividend Percentage
IncreaseDecreaseinStockDividendPercentage
|
0.15 | |
CY2015Q2 | noc |
Increase Decreasein Stock Dividend Percentage
IncreaseDecreaseinStockDividendPercentage
|
0.14 | |
CY2014Q3 | noc |
Other Comprehensive Incomelossotheradjustmentnetoftax
OtherComprehensiveIncomelossotheradjustmentnetoftax
|
3000000 | USD |
noc |
Other Comprehensive Incomelossotheradjustmentnetoftax
OtherComprehensiveIncomelossotheradjustmentnetoftax
|
3000000 | USD | |
CY2015Q3 | noc |
Other Comprehensive Incomelossotheradjustmentnetoftax
OtherComprehensiveIncomelossotheradjustmentnetoftax
|
1000000 | USD |
noc |
Other Comprehensive Incomelossotheradjustmentnetoftax
OtherComprehensiveIncomelossotheradjustmentnetoftax
|
0 | USD | |
CY2015Q3 | noc |
Standby Unused Letters Of Creditandbankguarantees
StandbyUnusedLettersOfCreditandbankguarantees
|
236000000 | USD |
CY2015Q3 | noc |
Surety Bond Outstanding
SuretyBondOutstanding
|
152000000 | USD |
CY2014Q4 | noc |
Unamortizedbenefitplancosts Tax Benefitexpense
UnamortizedbenefitplancostsTaxBenefitexpense
|
3395000000 | USD |
CY2015Q3 | noc |
Unamortizedbenefitplancosts Tax Benefitexpense
UnamortizedbenefitplancostsTaxBenefitexpense
|
3217000000 | USD |
CY2014Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1305000000 | USD |
CY2015Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1194000000 | USD |
CY2015Q3 | us-gaap |
Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
|
368000000 | USD |
CY2014Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4611000000 | USD |
CY2015Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4804000000 | USD |
CY2014Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
|
5316000000 | USD |
CY2015Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
|
5028000000 | USD |
CY2014Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
|
-41000000 | USD |
CY2015Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
|
-72000000 | USD |
CY2014Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-5356000000 | USD |
CY2015Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-5099000000 | USD |
CY2014Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
0 | USD |
CY2015Q3 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
0 | USD |
CY2014Q4 | us-gaap |
Assets
Assets
|
26572000000 | USD |
CY2015Q3 | us-gaap |
Assets
Assets
|
23966000000 | USD |
CY2014Q4 | us-gaap |
Assets Current
AssetsCurrent
|
8184000000 | USD |
CY2015Q3 | us-gaap |
Assets Current
AssetsCurrent
|
5951000000 | USD |
CY2013Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
5150000000 | USD |
CY2014Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3402000000 | USD |
CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3863000000 | USD |
CY2015Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1292000000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-1748000000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-2571000000 | USD | |
CY2014Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2015Q3 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2013Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.61 | |
CY2014Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.70 | |
CY2015Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.80 | |
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
2.01 | ||
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
2.3 | ||
CY2014Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
1 | |
CY2015Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
1 | |
CY2014Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
800000000 | shares |
CY2015Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
800000000 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
198930240 | shares |
CY2015Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
182822662 | shares |
CY2014Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
198930240 | shares |
CY2015Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
182822622 | shares |
CY2014Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
199000000 | USD |
CY2015Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
183000000 | USD |
CY2014Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
481000000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1669000000 | USD | |
CY2015Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
598000000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1788000000 | USD | |
CY2014Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
2614000000 | USD |
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
7815000000 | USD | |
CY2015Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
2633000000 | USD |
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
7743000000 | USD | |
CY2014Q3 | us-gaap |
Cost Of Services
CostOfServices
|
2021000000 | USD |
us-gaap |
Cost Of Services
CostOfServices
|
5910000000 | USD | |
CY2015Q3 | us-gaap |
Cost Of Services
CostOfServices
|
1889000000 | USD |
us-gaap |
Cost Of Services
CostOfServices
|
5763000000 | USD | |
CY2014Q4 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
1713000000 | USD |
CY2015Q3 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
1299000000 | USD |
CY2015Q3 | us-gaap |
Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
|
75000000 | USD |
us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
76000000 | USD | |
us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
165000000 | USD | |
CY2014Q4 | us-gaap |
Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
|
404000000 | USD |
CY2015Q3 | us-gaap |
Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
|
336000000 | USD |
CY2014Q4 | us-gaap |
Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
|
1622000000 | USD |
CY2015Q3 | us-gaap |
Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
|
1352000000 | USD |
CY2014Q4 | us-gaap |
Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
|
5600000000 | USD |
CY2015Q3 | us-gaap |
Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
|
5300000000 | USD |
CY2014Q3 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
63000000 | USD |
us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
210000000 | USD | |
CY2015Q3 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
77000000 | USD |
us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
227000000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
322000000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
329000000 | USD | |
CY2014Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.29 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
7.39 | ||
CY2015Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
2.78 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
7.98 | ||
CY2014Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.26 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
7.28 | ||
CY2015Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
2.75 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
7.89 | ||
CY2014Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.318 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.301 | ||
CY2015Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.292 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.294 | ||
CY2014Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1441000000 | USD |
CY2015Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1208000000 | USD |
us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
75000000 | USD | |
us-gaap |
Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
|
111000000 | USD | |
CY2014Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
580000000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1712000000 | USD | |
CY2015Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
663000000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1939000000 | USD | |
CY2014Q4 | us-gaap |
Goodwill
Goodwill
|
12466000000 | USD |
CY2015Q3 | us-gaap |
Goodwill
Goodwill
|
12458000000 | USD |
CY2014Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
694000000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2236000000 | USD | |
CY2015Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
729000000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2169000000 | USD | |
CY2014Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
221000000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
673000000 | USD | |
CY2015Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
213000000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
638000000 | USD | |
CY2015Q3 | us-gaap |
Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
|
21000000 | USD |
us-gaap |
Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
|
59000000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-514000000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-958000000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
531000000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
463000000 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
201000000 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
403000000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-43000000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
130000000 | USD | |
us-gaap |
Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
|
5000000 | USD | |
us-gaap |
Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
|
-318000000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
30000000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-27000000 | USD | |
CY2014Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
3000000 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
3200000 | shares | |
CY2015Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2100000 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
2200000 | shares | |
CY2014Q3 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
69000000 | USD |
us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
208000000 | USD | |
CY2015Q3 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
75000000 | USD |
us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
226000000 | USD | |
CY2014Q4 | us-gaap |
Inventory Net
InventoryNet
|
742000000 | USD |
CY2015Q3 | us-gaap |
Inventory Net
InventoryNet
|
856000000 | USD |
CY2014Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
84000000 | USD |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
229000000 | USD | |
CY2015Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
75000000 | USD |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
232000000 | USD | |
CY2014Q4 | us-gaap |
Liabilities
Liabilities
|
19337000000 | USD |
CY2015Q3 | us-gaap |
Liabilities
Liabilities
|
18269000000 | USD |
CY2014Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
26572000000 | USD |
CY2015Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
23966000000 | USD |
CY2014Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
5892000000 | USD |
CY2015Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
5133000000 | USD |
CY2014Q4 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
5925000000 | USD |
CY2015Q3 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
6417000000 | USD |
CY2015Q3 | us-gaap |
Loss Contingency Range Of Possible Loss Maximum
LossContingencyRangeOfPossibleLossMaximum
|
794000000 | USD |
CY2015Q3 | us-gaap |
Loss Contingency Range Of Possible Loss Minimum
LossContingencyRangeOfPossibleLossMinimum
|
351000000 | USD |
CY2014Q4 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
336000000 | USD |
CY2015Q3 | us-gaap |
Marketable Securities Noncurrent
MarketableSecuritiesNoncurrent
|
300000000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2494000000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2802000000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-357000000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-298000000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1103000000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
529000000 | USD | |
CY2014Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
473000000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1563000000 | USD | |
CY2015Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
516000000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1531000000 | USD | |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
4 | segment | |
CY2014Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
769000000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2434000000 | USD | |
CY2015Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
794000000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
2387000000 | USD | |
CY2014Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
369000000 | USD |
CY2015Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
199000000 | USD |
CY2014Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1309000000 | USD |
CY2015Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1200000000 | USD |
CY2014Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-26000000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-24000000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-15000000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-31000000 | USD | |
CY2014Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
8000000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
106000000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
82000000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
257000000 | USD | |
CY2014Q3 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-31000000 | USD |
us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-127000000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-96000000 | USD |
us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-288000000 | USD | |
CY2014Q3 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
35000000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
108000000 | USD | |
CY2015Q3 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
96000000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
288000000 | USD | |
CY2014Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
1433000000 | USD |
CY2015Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
1432000000 | USD |
CY2014Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
965000000 | USD |
CY2015Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
941000000 | USD |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
50000000 | USD | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
16000000 | USD | |
CY2014Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-6000000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
10000000 | USD | |
CY2015Q3 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
10000000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
8000000 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
72000000 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-36000000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
2058000000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
2864000000 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
423000000 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
458000000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
285000000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
334000000 | USD | |
CY2014Q4 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
6555000000 | USD |
CY2015Q3 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
5778000000 | USD |
CY2014Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
1 | |
CY2015Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
1 | |
CY2014Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2015Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2014Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2015Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2014Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2015Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2014Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2015Q3 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
0 | USD | |
us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
600000000 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-13000000 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-80000000 | USD | |
CY2014Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2991000000 | USD |
CY2015Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3005000000 | USD |
CY2014Q4 | us-gaap |
Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
|
2806000000 | USD |
CY2015Q3 | us-gaap |
Receivables Long Term Contracts Or Programs
ReceivablesLongTermContractsOrPrograms
|
3268000000 | USD |
CY2014Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
12392000000 | USD |
CY2015Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
10613000000 | USD |
CY2014Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
3494000000 | USD |
us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
10466000000 | USD | |
CY2015Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
3615000000 | USD |
us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
10553000000 | USD | |
CY2014Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
5984000000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
17871000000 | USD | |
CY2015Q3 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
5979000000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
17832000000 | USD | |
CY2014Q3 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
2490000000 | USD |
us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
7405000000 | USD | |
CY2015Q3 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
2364000000 | USD |
us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
7279000000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
93000000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
70000000 | USD | |
CY2014Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9893000000 | USD |
CY2014Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7235000000 | USD |
CY2015Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5697000000 | USD |
us-gaap |
Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
|
51000000 | USD | |
CY2014Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
209200000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
214800000 | shares | |
CY2015Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
187900000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
194000000 | shares | |
CY2014Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
206200000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
211600000 | shares | |
CY2015Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
185800000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
191800000 | shares | |
us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue from Contracts with Customers</font><font style="font-family:inherit;font-size:10pt;">.</font><font style="font-family:inherit;font-size:10pt;"> ASU 2014-09 supersedes existing revenue recognition guidance, including Accounting Standards Codification (ASC) No. 605-35,</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition - Construction-Type and Production-Type Contracts.</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">ASU 2014-09 outlines a single set of comprehensive principles for recognizing revenue under U.S. GAAP. Among other things, it requires companies to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time. These concepts, as well as other aspects of ASU 2014-09, may change the method and/or timing of revenue recognition for certain of our contracts.</font><font style="font-family:inherit;font-size:10pt;"> On July 9, 2015, the FASB approved a one year deferral of the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017. ASU 2014-09 may be applied either retrospectively or through the use of a modified-retrospective method. We are currently evaluating both methods of adoption as well as the effect ASU 2014-09 will have on the company’s consolidated financial position, annual results of operations and cash flows.</font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font></div></div> | ||
us-gaap |
Fiscal Period
FiscalPeriod
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The quarterly information is labeled using a calendar convention; that is, first quarter is consistently labeled as ending on March 31, second quarter as ending on June 30 and third quarter as ending on September 30. It is the company's long-standing practice to establish actual interim closing dates using a “fiscal” calendar, in which we close our books on a Friday near these quarter-end dates in order to normalize the potentially disruptive effects of quarterly closings on business processes. This practice is only used at interim periods within a reporting year.</font></div></div> | ||
us-gaap |
Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Guarantees of Subsidiary Performance Obligations</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">From time to time in the ordinary course of business, the company guarantees obligations of its subsidiaries under certain contracts. Generally, the company is liable under such an arrangement only if its subsidiary is unable to perform under its contract. Historically, the company has not incurred any substantial liabilities resulting from these guarantees.</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, the company’s subsidiaries may enter into joint ventures, teaming and other business arrangements (collectively, Business Arrangements) to support our products and services in domestic and international markets. The company generally strives to limit its exposure under these arrangements to its subsidiary’s investment in the Business Arrangements or to the extent of such subsidiary’s obligations under the applicable contract. In some cases, however, we may be required to guarantee performance by the Business Arrangements and, in such cases, the company generally strives to obtain cross-indemnification from the other members of the Business Arrangements.</font></div></div> | ||
us-gaap |
Revenue Recognition Long Term Contracts
RevenueRecognitionLongTermContracts
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The majority of our sales are derived from long-term contracts with the United States (U.S.) Government for the production of goods, the provision of services, or in some cases, a combination of both. In accounting for these contracts, we utilize either the cost-to-cost or the units-of-delivery method of percentage-of-completion accounting, with cost-to-cost being the predominant method. The company estimates profit on contracts as the difference between total estimated sales and total estimated cost at completion and recognizes that profit either as costs are incurred (cost-to-cost) or as units are delivered (units-of-delivery). The company classifies sales as product or service depending upon the predominant attributes of the contract.</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize changes in estimated contract sales, costs or profits using the cumulative catch-up method of accounting. This method recognizes, in the current period, the cumulative effect of the changes on current and prior periods; sales and profit in future periods of contract performance are recognized as if the revised estimates had been used since contract inception. If it is determined that a loss will result from the performance of a contract, the entire amount of the estimable future loss is charged against income in the period the loss is identified. Loss provisions are first offset against any costs that are included in unbilled accounts receivable or inventoried costs, and any remaining amount is reflected in liabilities.</font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant changes in estimates on a single contract could have a material effect on the company's unaudited condensed consolidated financial position or results of operations. Where such changes occur, we generally disclose the nature, underlying conditions and financial impact of the change.</font></div></div> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Accounting Estimates</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (GAAP). The preparation thereof requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingencies at the date of the financial statements, as well as the reported amounts of sales and expenses during the reporting period. Estimates have been prepared using the most current and best available information; however, actual results could differ materially from those estimates.</font></div></div> |