2018 Q2 Form 10-Q Financial Statement
#000113342118000038 Filed on July 25, 2018
Income Statement
Concept | 2018 Q2 | 2017 Q2 |
---|---|---|
Revenue | $7.119B | $6.473B |
YoY Change | 9.98% | 7.88% |
Cost Of Revenue | $1.863B | $1.877B |
YoY Change | -0.75% | -4.33% |
Gross Profit | $5.256B | $4.596B |
YoY Change | 14.36% | 13.82% |
Gross Profit Margin | 73.83% | 71.0% |
Selling, General & Admin | $739.0M | $686.0M |
YoY Change | 7.73% | 10.65% |
% of Gross Profit | 14.06% | 14.93% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $159.0M | $107.0M |
YoY Change | 48.6% | 0.94% |
% of Gross Profit | 3.03% | 2.33% |
Operating Expenses | $739.0M | $686.0M |
YoY Change | 7.73% | 10.65% |
Operating Profit | $817.0M | $864.0M |
YoY Change | -5.44% | 8.41% |
Interest Expense | -$144.0M | -$76.00M |
YoY Change | 89.47% | 2.7% |
% of Operating Profit | -17.63% | -8.8% |
Other Income/Expense, Net | $45.00M | $32.00M |
YoY Change | 40.63% | 357.14% |
Pretax Income | $976.0M | $812.0M |
YoY Change | 20.2% | 11.23% |
Income Tax | $187.0M | $257.0M |
% Of Pretax Income | 19.16% | 31.65% |
Net Earnings | $789.0M | $677.0M |
YoY Change | 16.54% | 30.95% |
Net Earnings / Revenue | 11.08% | 10.46% |
Basic Earnings Per Share | $4.52 | $3.88 |
Diluted Earnings Per Share | $4.50 | $3.86 |
COMMON SHARES | ||
Basic Shares Outstanding | 174.5M shares | 174.5M shares |
Diluted Shares Outstanding | 175.4M shares | 175.5M shares |
Balance Sheet
Concept | 2018 Q2 | 2017 Q2 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.903B | $1.383B |
YoY Change | 37.6% | 21.42% |
Cash & Equivalents | $1.539B | $1.383B |
Short-Term Investments | $364.0M | |
Other Short-Term Assets | $406.0M | $162.0M |
YoY Change | 150.62% | -12.9% |
Inventory | $690.0M | $1.039B |
Prepaid Expenses | ||
Receivables | $1.815B | $4.280B |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $9.722B | $6.864B |
YoY Change | 41.64% | 18.73% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $5.864B | $3.802B |
YoY Change | 54.23% | 15.25% |
Goodwill | $18.75B | $12.45B |
YoY Change | 50.54% | -0.08% |
Intangibles | $1.329B | |
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $1.537B | $1.309B |
YoY Change | 17.42% | 12.55% |
Total Long-Term Assets | $27.66B | $18.95B |
YoY Change | 45.95% | 3.55% |
TOTAL ASSETS | ||
Total Short-Term Assets | $9.722B | $6.864B |
Total Long-Term Assets | $27.66B | $18.95B |
Total Assets | $37.38B | $25.81B |
YoY Change | 44.8% | 7.19% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $1.824B | $1.385B |
YoY Change | 31.7% | 8.88% |
Accrued Expenses | $1.606B | $1.213B |
YoY Change | 32.4% | 9.08% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $249.0M | $0.00 |
YoY Change | ||
Long-Term Debt Due | $744.0M | $862.0M |
YoY Change | -13.69% | |
Total Short-Term Liabilities | $7.833B | $6.186B |
YoY Change | 26.62% | 21.32% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $14.39B | $6.219B |
YoY Change | 131.34% | -2.63% |
Other Long-Term Liabilities | $1.176B | $823.0M |
YoY Change | 42.89% | -3.52% |
Total Long-Term Liabilities | $1.176B | $823.0M |
YoY Change | 42.89% | -3.52% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $7.833B | $6.186B |
Total Long-Term Liabilities | $1.176B | $823.0M |
Total Liabilities | $29.15B | $19.89B |
YoY Change | 46.53% | 8.12% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $13.67B | $11.09B |
YoY Change | 23.29% | 4.26% |
Common Stock | $174.0M | $174.0M |
YoY Change | 0.0% | -2.79% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $8.226B | $6.036B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $37.38B | $25.81B |
YoY Change | 44.8% | 7.19% |
Cashflow Statement
Concept | 2018 Q2 | 2017 Q2 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $789.0M | $677.0M |
YoY Change | 16.54% | 30.95% |
Depreciation, Depletion And Amortization | $159.0M | $107.0M |
YoY Change | 48.6% | 0.94% |
Cash From Operating Activities | $875.0M | $507.0M |
YoY Change | 72.58% | -16.06% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$199.0M | -$217.0M |
YoY Change | -8.29% | 25.43% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | -$7.653B | $5.000M |
YoY Change | -153160.0% | 150.0% |
Cash From Investing Activities | -$7.852B | -$212.0M |
YoY Change | 3603.77% | 23.98% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -1.853B | -315.0M |
YoY Change | 488.25% | -44.83% |
NET CHANGE | ||
Cash From Operating Activities | 875.0M | 507.0M |
Cash From Investing Activities | -7.852B | -212.0M |
Cash From Financing Activities | -1.853B | -315.0M |
Net Change In Cash | -8.830B | -20.00M |
YoY Change | 44050.0% | -85.51% |
FREE CASH FLOW | ||
Cash From Operating Activities | $875.0M | $507.0M |
Capital Expenditures | -$199.0M | -$217.0M |
Free Cash Flow | $1.074B | $724.0M |
YoY Change | 48.34% | -6.82% |
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
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2018 | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2018-06-30 | ||
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
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CY2018Q3 | dei |
Entity Common Stock Shares Outstanding
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Entity Current Reporting Status
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Yes | ||
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Entity Filer Category
EntityFilerCategory
|
Large Accelerated Filer | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
NORTHROP GRUMMAN CORP /DE/ | ||
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Entity Voluntary Filers
EntityVoluntaryFilers
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No | ||
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Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
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Yes | ||
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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
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Amountofdecreaseincreasein Customer Advances
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Amountofincreasedecreasein Unbilled Receivables
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Pro Forma Adjustments Orbital At Kintercompanycostofsaleselimination
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Pro Forma Adjustments Orbital At Kintercompanycostofsaleselimination
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Surety Bond Outstanding
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Accounts Receivable Net Current
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Accounts Receivable Net Current
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Accrual For Environmental Loss Contingencies
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Accrual For Environmental Loss Contingencies
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|
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|
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|
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|
5474000000 | USD |
CY2017Q4 | us-gaap |
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|
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CY2018Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
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CY2017Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2018Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
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us-gaap |
Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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P12Y | ||
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Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
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44000000 | USD |
CY2018Q2 | us-gaap |
Additional Paid In Capital Common Stock
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CY2017Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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7000000 | USD | |
CY2018Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
24000000 | USD |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
28000000 | USD | |
CY2017Q4 | us-gaap |
Assets
Assets
|
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CY2018Q2 | us-gaap |
Assets
Assets
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CY2017Q4 | us-gaap |
Assets Current
AssetsCurrent
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16587000000 | USD |
CY2018Q2 | us-gaap |
Assets Current
AssetsCurrent
|
9722000000 | USD |
CY2017Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
3.28 | |
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
7.01 | ||
CY2018Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
|
4.53 | |
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Basic
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|
9.26 | ||
CY2017Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
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|
3.26 | |
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
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|
6.97 | ||
CY2018Q2 | us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
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|
4.51 | |
us-gaap |
Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
|
9.21 | ||
CY2018Q2 | us-gaap |
Business Acquisition Share Price
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|
134.50 | |
CY2017Q2 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
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|
572000000 | USD |
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
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1225000000 | USD | |
CY2018Q2 | us-gaap |
Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
|
791000000 | USD |
us-gaap |
Business Acquisitions Pro Forma Net Income Loss
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1615000000 | USD | |
CY2017Q2 | us-gaap |
Business Acquisitions Pro Forma Revenue
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7555000000 | USD |
us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
15039000000 | USD | |
CY2018Q2 | us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
8078000000 | USD |
us-gaap |
Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
|
16078000000 | USD | |
CY2018Q2 | us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
23000000 | USD |
us-gaap |
Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
|
29000000 | USD | |
CY2018Q2 | us-gaap |
Business Combination Consideration Transferred1
BusinessCombinationConsiderationTransferred1
|
7742000000 | USD |
CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2541000000 | USD |
CY2017Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1383000000 | USD |
CY2017Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
11225000000 | USD |
CY2018Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1539000000 | USD |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-1158000000 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-9686000000 | USD | |
CY2017Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2018Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
CY2016Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.90 | |
CY2017Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
1.00 | |
CY2018Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
1.10 | |
CY2018Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
1.20 | |
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
1.90 | ||
us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
2.30 | ||
CY2017Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
1 | |
CY2018Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
1 | |
CY2017Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
800000000 | shares |
CY2018Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
800000000 | shares |
CY2017Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
174085619 | shares |
CY2018Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
174254250 | shares |
CY2017Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
174085619 | shares |
CY2018Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
174254250 | shares |
CY2017Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
174000000 | USD |
CY2018Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
174000000 | USD |
CY2017Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
654000000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1409000000 | USD | |
CY2018Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
772000000 | USD |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1594000000 | USD | |
CY2017Q2 | us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
1.00 | |
us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
1.00 | ||
CY2018Q2 | us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
1.00 | |
us-gaap |
Concentration Risk Percentage1
ConcentrationRiskPercentage1
|
1.00 | ||
CY2017Q4 | us-gaap |
Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
|
1704000000 | USD |
CY2018Q2 | us-gaap |
Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
|
3561000000 | USD |
CY2017Q2 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
272000000 | USD |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
850000000 | USD | |
CY2018Q2 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
364000000 | USD |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
1100000000 | USD | |
CY2017Q2 | us-gaap |
Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
|
101000000 | USD |
us-gaap |
Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
|
246000000 | USD | |
CY2018Q2 | us-gaap |
Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
|
156000000 | USD |
us-gaap |
Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
|
289000000 | USD | |
CY2017Q2 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
3037000000 | USD |
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
6020000000 | USD | |
CY2018Q2 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
3694000000 | USD |
us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
6959000000 | USD | |
CY2017Q2 | us-gaap |
Cost Of Services
CostOfServices
|
1877000000 | USD |
us-gaap |
Cost Of Services
CostOfServices
|
3744000000 | USD | |
CY2018Q2 | us-gaap |
Cost Of Services
CostOfServices
|
1863000000 | USD |
us-gaap |
Cost Of Services
CostOfServices
|
3768000000 | USD | |
CY2017Q4 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
1761000000 | USD |
CY2018Q2 | us-gaap |
Customer Advances Current
CustomerAdvancesCurrent
|
1711000000 | USD |
CY2017Q4 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
15300000000 | USD |
CY2018Q2 | us-gaap |
Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
|
15100000000 | USD |
us-gaap |
Debt Instrument Covenant Compliance
DebtInstrumentCovenantCompliance
|
the company was in compliance with all covenants under its credit agreements. | ||
us-gaap |
Debt Instrument Term
DebtInstrumentTerm
|
P90D | ||
CY2018Q2 | us-gaap |
Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
|
115000000 | USD |
us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
-39000000 | USD | |
us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
-17000000 | USD | |
CY2017Q4 | us-gaap |
Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
|
447000000 | USD |
CY2018Q2 | us-gaap |
Deferred Tax Assets Liabilities Net Noncurrent
DeferredTaxAssetsLiabilitiesNetNoncurrent
|
179000000 | USD |
CY2017Q4 | us-gaap |
Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
|
-4700000000 | USD |
CY2018Q2 | us-gaap |
Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
|
-5600000000 | USD |
CY2017Q2 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
77000000 | USD |
us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
176000000 | USD | |
CY2018Q2 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
88000000 | USD |
us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
192000000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
213000000 | USD | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
281000000 | USD | |
CY2017Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
3.18 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
6.90 | ||
CY2018Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
3.95 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
8.19 | ||
CY2017Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
3.16 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
6.85 | ||
CY2018Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
3.93 | |
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
8.14 | ||
CY2017Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.317 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.247 | ||
CY2018Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.188 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.170 | ||
CY2017 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | ||
CY2017Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1382000000 | USD |
CY2018Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1451000000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
1781000000 | USD |
CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
1809000000 | USD |
CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
162000000 | USD |
CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
105000000 | USD |
CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
150000000 | USD |
CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
232000000 | USD |
CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
284000000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
1833000000 | USD |
CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
3138000000 | USD |
CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
52000000 | USD |
CY2018Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1329000000 | USD |
CY2017Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
686000000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1384000000 | USD | |
CY2018Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
739000000 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1450000000 | USD | |
CY2017Q4 | us-gaap |
Goodwill
Goodwill
|
12455000000 | USD |
CY2018Q2 | us-gaap |
Goodwill
Goodwill
|
18747000000 | USD |
us-gaap |
Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
|
6295000000 | USD | |
us-gaap |
Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
|
-3000000 | USD | |
CY2017Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
812000000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1600000000 | USD | |
CY2018Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
849000000 | USD |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1720000000 | USD | |
CY2017Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
257000000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
395000000 | USD | |
CY2018Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
160000000 | USD |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
292000000 | USD | |
us-gaap |
Income Tax Reconciliation Deductions Qualified Production Activities
IncomeTaxReconciliationDeductionsQualifiedProductionActivities
|
31000000 | USD | |
us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
47000000 | USD | |
us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
26000000 | USD | |
CY2018Q2 | us-gaap |
Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
|
22000000 | USD |
us-gaap |
Income Tax Reconciliation Tax Settlements
IncomeTaxReconciliationTaxSettlements
|
42000000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-172000000 | USD | |
us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-422000000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
509000000 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
145000000 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
90000000 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
186000000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
54000000 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
73000000 | USD | |
us-gaap |
Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
|
165000000 | USD | |
us-gaap |
Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
|
-127000000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
34000000 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-57000000 | USD | |
us-gaap |
Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
|
793000000 | USD | |
us-gaap |
Increase Decrease In Unbilled Receivables
IncreaseDecreaseInUnbilledReceivables
|
570000000 | USD | |
CY2017Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1000000 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1100000 | shares | |
CY2018Q2 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
900000 | shares |
us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
1000000 | shares | |
CY2017Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
52000000 | USD |
CY2018Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1329000000 | USD |
CY2017Q2 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
76000000 | USD |
us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
151000000 | USD | |
CY2018Q2 | us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
144000000 | USD |
us-gaap |
Interest And Debt Expense
InterestAndDebtExpense
|
287000000 | USD | |
CY2017Q4 | us-gaap |
Inventory Net
InventoryNet
|
398000000 | USD |
CY2018Q2 | us-gaap |
Inventory Net
InventoryNet
|
690000000 | USD |
CY2017Q2 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
65000000 | USD |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
154000000 | USD | |
CY2018Q2 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
81000000 | USD |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
173000000 | USD | |
CY2017Q4 | us-gaap |
Liabilities
Liabilities
|
27996000000 | USD |
CY2017Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
35128000000 | USD |
CY2018Q2 | us-gaap |
Liabilities
Liabilities
|
29151000000 | USD |
CY2018Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
37378000000 | USD |
CY2017Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7092000000 | USD |
CY2018Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
7833000000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
14399000000 | USD |
CY2018Q2 | us-gaap |
Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
|
14387000000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
867000000 | USD |
CY2018Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
744000000 | USD |
CY2017Q4 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
16000000000 | USD |
CY2018Q2 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
15100000000 | USD |
CY2017Q4 | us-gaap |
Marketable Securities
MarketableSecurities
|
353000000 | USD |
CY2018Q2 | us-gaap |
Marketable Securities
MarketableSecurities
|
364000000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-800000000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2165000000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-426000000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-8159000000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
68000000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
638000000 | USD | |
CY2017Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
555000000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1205000000 | USD | |
CY2018Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
689000000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
1428000000 | USD | |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
4 | segment | |
CY2017Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
873000000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1735000000 | USD | |
CY2018Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
823000000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
1677000000 | USD | |
CY2017Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
445000000 | USD |
CY2018Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
406000000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1362000000 | USD |
CY2018Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1537000000 | USD |
CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-4000000 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
0 | USD | |
CY2018Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
0 | USD |
us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-2000000 | USD | |
CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
99000000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
204000000 | USD | |
CY2018Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
83000000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
166000000 | USD | |
CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-102000000 | USD |
us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-201000000 | USD | |
CY2018Q2 | us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-86000000 | USD |
us-gaap |
Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
|
-172000000 | USD | |
CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
100000000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
199000000 | USD | |
CY2018Q2 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
86000000 | USD |
us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
172000000 | USD | |
CY2017Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
2288000000 | USD |
CY2018Q2 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
2847000000 | USD |
CY2017Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
994000000 | USD |
CY2018Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1176000000 | USD |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
46000000 | USD | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
13000000 | USD | |
CY2017Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
32000000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
51000000 | USD | |
CY2018Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
45000000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
85000000 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-7000000 | USD | |
us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
-2000000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
367000000 | USD | |
us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
41000000 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
341000000 | USD | |
us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
407000000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
91000000 | USD | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
80000000 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
0 | USD | |
us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
7657000000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
433000000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
504000000 | USD | |
CY2017Q4 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
5511000000 | USD |
CY2018Q2 | us-gaap |
Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
|
5755000000 | USD |
CY2017Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
1 | |
CY2018Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
1 | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2018Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2018Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2018Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2018Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-1000000 | USD | |
us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
-22000000 | USD | |
us-gaap |
Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
|
0 | USD | |
us-gaap |
Proceeds From Repayments Of Commercial Paper
ProceedsFromRepaymentsOfCommercialPaper
|
249000000 | USD | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4225000000 | USD |
CY2018Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5864000000 | USD |
CY2017Q4 | us-gaap |
Recorded Third Party Environmental Recoveries Amount
RecordedThirdPartyEnvironmentalRecoveriesAmount
|
207000000 | USD |
CY2018Q2 | us-gaap |
Recorded Third Party Environmental Recoveries Amount
RecordedThirdPartyEnvironmentalRecoveriesAmount
|
236000000 | USD |
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
0 | USD | |
us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
314000000 | USD | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | USD | |
us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
1550000000 | USD | |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
11632000000 | USD |
CY2018Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
13669000000 | USD |
CY2018Q2 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
52200000000 | USD |
us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
|
We expect to recognize approximately 50 percent and 75 percent of our June 30, 2018 backlog as revenue over the next 12 and 24 months, respectively, with the remainder to be recognized thereafter. | ||
CY2017Q2 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
4037000000 | USD |
us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
8034000000 | USD | |
CY2018Q2 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
4790000000 | USD |
us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
9079000000 | USD | |
CY2017Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
6473000000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
12883000000 | USD | |
CY2018Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
7119000000 | USD |
us-gaap |
Sales Revenue Net
SalesRevenueNet
|
13854000000 | USD | |
CY2017Q2 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
2436000000 | USD |
us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
4849000000 | USD | |
CY2018Q2 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
2329000000 | USD |
us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
4775000000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
42000000 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
53000000 | USD | |
CY2018Q2 | us-gaap |
Shares Outstanding
SharesOutstanding
|
57562152 | shares |
CY2018Q2 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
249000000 | USD |
CY2018Q2 | us-gaap |
Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
|
0.0246 | Rate |
CY2017Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
6036000000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7132000000 | USD |
CY2018Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
8227000000 | USD |
CY2017Q4 | us-gaap |
Unbilled Receivables Current
UnbilledReceivablesCurrent
|
3465000000 | USD |
CY2018Q2 | us-gaap |
Unbilled Receivables Current
UnbilledReceivablesCurrent
|
5272000000 | USD |
CY2018Q2 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
|
150000000 | USD |
CY2018Q2 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
|
50000000 | USD |
CY2017Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
175500000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
175800000 | shares | |
CY2018Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
175400000 | shares |
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
175400000 | shares | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
174500000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
174700000 | shares | |
CY2018Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
174500000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
174400000 | 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 February 25, 2016, the FASB issued ASU No. 2016-02, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases (Topic 842)</font><font style="font-family:inherit;font-size:10pt;">. ASU 2016-02 supersedes existing lease guidance, including ASC 840 - </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Leases</font><font style="font-family:inherit;font-size:10pt;">. Among other things, ASU 2016-02 requires recognition of a right-of-use asset and liability for future lease payments for contracts that meet the definition of a lease and requires disclosure of certain information about leasing arrangements. ASU 2016-02 will be effective January 1, 2019, although early adoption is permitted, and may be adopted using a modified retrospective transition method that applies the new lease requirements at the beginning of the earliest period presented in the financial statements. The FASB has proposed a change that would allow a company to elect an optional transition method that applies the new lease requirements through a cumulative-effect adjustment in the period of adoption. We expect to adopt the standard on January 1, 2019 using the proposed optional transition method if finalized in its current form.</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">As a result of the Merger, we are currently reevaluating the expected impact of ASU 2016-02 on the company’s consolidated financial position and financial statement disclosures. We do not expect ASU 2016-02 to have a material impact on our annual results of operations and/or cash flows.</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. Similarly, Innovation Systems uses a “fiscal” calendar by closing its books on a Sunday near these quarter-end dates and will continue this practice until its business processes are aligned with the company’s. The Friday and Sunday closing dates noted herein are both labeled as June 30, consistent with our calendar convention described above. This practice is only used at interim periods within a reporting year.</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 U.S. government for the production of goods, the provision of services, or a combination of both. The company classifies sales as product or service based on the predominant attributes of each contract. </font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under ASC Topic 606, the company recognizes revenue for each separately identifiable performance obligation in a contract representing a promise to transfer a distinct good or service to a customer. In most cases, goods and services provided under the company’s contracts are accounted for as single performance obligations due to the complex and integrated nature of our products and services. These contracts generally require significant integration of a group of goods and/or services to deliver a combined output. In some contracts, the company provides multiple distinct goods or services to a customer, most commonly when a contract covers multiple phases of the product lifecycle (development, production, maintenance and/or support). In those cases, the company accounts for the distinct contract deliverables as separate performance obligations and allocates the transaction price to each performance obligation based on its relative standalone selling price, which is generally estimated using the cost plus a reasonable margin approach of ASC Topic 606. Warranties are provided on certain contracts, but do not typically provide for services beyond standard assurances and are therefore not within the scope of ASC Topic 606. Likewise, our accounting for costs to obtain or fulfill a contract was not significantly impacted by the adoption of ASC Topic 606 as these costs are not material.</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A contract modification exists when the parties to a contract approve a change in the scope or price of a contract. Contracts are often modified for changes in contract specifications or requirements. Most of the company’s contract modifications are for goods or services that are not distinct in the context of the contract and are therefore accounted for as part of the original performance obligation through a cumulative estimate-at-completion (EAC) adjustment.</font></div><div style="line-height:120%;padding-bottom:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The company recognizes revenue as control is transferred to the customer, either over time or at a point in time. In general, our U.S. government contracts contain termination for convenience clauses that generally entitle the customer to goods produced and/or in-process. Similarly, our non-U.S. government contracts generally contain contractual termination clauses or entitle the company to payment for work performed to date for goods and services that do not have an alternative use. As control is effectively transferred as we perform on our contracts and we are typically entitled to cost plus a reasonable margin for work in process if the contract is terminated for convenience, we generally recognize revenue over time on a cost-to-cost basis (cost incurred relative to total cost estimated at completion) as the company believes this represents the most appropriate measurement towards satisfaction of its performance obligations. Revenue for contracts in which the control of goods produced does not transfer until delivery to the customer is recognized at a point in time (i.e. typically upon delivery).</font></div></div><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;">Use of the cost-to-cost method requires us to make reasonably dependable estimates regarding the revenue and cost associated with the design, manufacture and delivery of our products and services. The company estimates profit on these contracts as the difference between total estimated sales and total estimated cost at completion and recognizes that profit as costs are incurred. Significant judgment is used to estimate total revenue and cost at completion. </font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Contract sales may include estimates of variable consideration, including cost or performance incentives (such as award and incentive fees), contract claims and requests for equitable adjustment (REAs). Variable consideration is included in total estimated sales to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. We estimate variable consideration at the most likely amount to which we expect to be entitled.</font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize changes in estimated contract sales or costs and the resulting changes in contract profit on a cumulative basis. Cumulative EAC adjustments represent the cumulative effect of the changes on current and prior periods; sales and operating margins in future periods are recognized as if the revised estimates had been used since contract inception. If it is determined that a loss is expected to result on an individual performance obligation, the entire amount of the estimable future loss, including an allocation of general and administrative (G&A) costs, is charged against income in the period the loss is identified. Each loss provision is first offset against costs included in unbilled accounts receivable or inventoried costs; remaining amounts are reflected in other current 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 EAC adjustments on a single contract could have a material effect on the company’s financial statements.</font></div></div><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;">For each of the company’s contracts, the timing of revenue recognition, customer billings, and cash collections results in a net contract asset or liability at the end of each reporting period. Fixed-price contracts are typically billed to the customer either using progress payments, whereby amounts are billed monthly as costs are incurred or work is completed, or performance based payments, which are based upon the achievement of specific, measurable events or accomplishments defined and valued at contract inception. Cost-type contracts are typically billed to the customer on a monthly or semi-monthly basis.</font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Contract assets consist of unbilled receivables, primarily related to long-term contracts where revenue recognized under the cost-to-cost method exceeds amounts billed to customers. Unbilled receivables are classified as current assets and, in accordance with industry practice, include amounts that may be billed and collected beyond one year due to the long-cycle nature of many of our contracts. Accumulated contract costs in unbilled receivables include direct production costs, factory and engineering overhead, production tooling costs, and allowable G&A. Unbilled receivables also include certain estimates of variable consideration described above. These contract assets are not considered a significant financing component of the company’s contracts as the payment terms are intended to protect the customer in the event the company does not perform on its obligations under the contract.</font></div><div style="line-height:120%;padding-bottom:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Contract liabilities include advance payments and billings in excess of revenue recognized. Certain customers make advance payments prior to the satisfaction of the company’s obligations on the contract. These amounts are recorded as contract liabilities until such obligations are satisfied, either over time as costs are incurred or at a point in time when deliveries are made. Contract liabilities are not a significant financing component as they are generally utilized to pay for contract costs within a one-year period or are used to ensure the customer meets contractual requirements.</font></div></div> | ||
us-gaap |
Use Of Estimates
UseOfEstimates
|
<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;">Preparation of the financial statements 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> |