Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 22, 2019 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2019 | |
Document Transition Report | false | |
Entity File Number | 1-13699 | |
Entity Registrant Name | RAYTHEON CO/ | |
Entity Central Index Key | 0001047122 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 95-1778500 | |
Entity Address, Address Line One | 870 Winter Street | |
Entity Address, City or Town | Waltham | |
Entity Address, State or Province | MA | |
Entity Address, Postal Zip Code | 02451 | |
City Area Code | 781 | |
Local Phone Number | 522-3000 | |
Title of 12(b) Security | Common Stock, $0.01 par value | |
Trading Symbol | RTN | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 278,534,000 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 2,173,000,000 | $ 3,608,000,000 |
Receivables, net | 1,607,000,000 | 1,648,000,000 |
Contract assets | 6,130,000,000 | 5,594,000,000 |
Inventories | 932,000,000 | 758,000,000 |
Prepaid expenses and other current assets | 684,000,000 | 529,000,000 |
Total current assets | 11,526,000,000 | 12,137,000,000 |
Property, plant and equipment, net | 2,982,000,000 | 2,840,000,000 |
Operating lease right-of-use assets | 888,000,000 | 805,000,000 |
Goodwill | 14,882,000,000 | 14,864,000,000 |
Other assets, net | 1,908,000,000 | 2,024,000,000 |
Total assets | 32,186,000,000 | 32,670,000,000 |
Current liabilities | ||
Commercial paper and current portion of long-term debt | 800,000,000 | 300,000,000 |
Contract liabilities | 2,944,000,000 | 3,309,000,000 |
Accounts payable | 1,368,000,000 | 1,964,000,000 |
Accrued employee compensation | 1,361,000,000 | 1,509,000,000 |
Other current liabilities | 1,398,000,000 | 1,381,000,000 |
Total current liabilities | 7,871,000,000 | 8,463,000,000 |
Accrued retiree benefits and other long-term liabilities | 6,699,000,000 | 6,922,000,000 |
Long-term debt | 4,257,000,000 | 4,755,000,000 |
Operating lease liabilities | 720,000,000 | 647,000,000 |
Commitments and contingencies (Note 13) | ||
Redeemable noncontrolling interests | 435,000,000 | 411,000,000 |
Raytheon Company stockholders’ equity | ||
Common stock, par value, $0.01 per share, 1,450 shares authorized, 278 and 282 shares outstanding at June 30, 2019 and December 31, 2018, respectively | 3,000,000 | 3,000,000 |
Additional paid-in capital | 0 | 0 |
Accumulated other comprehensive loss | (8,182,000,000) | (8,618,000,000) |
Retained earnings | 20,383,000,000 | 20,087,000,000 |
Total Raytheon Company stockholders’ equity | 12,204,000,000 | 11,472,000,000 |
Noncontrolling interests in subsidiaries | 0 | 0 |
Total equity | 12,204,000,000 | 11,472,000,000 |
Total liabilities, redeemable noncontrolling interests and equity | $ 32,186,000,000 | $ 32,670,000,000 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 1,450 | 1,450 |
Common stock, shares outstanding | 278.4 | 282.1 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Net sales | ||||
Net sales | $ 7,159 | $ 6,625 | $ 13,888 | $ 12,892 |
Operating expenses | ||||
General and administrative expenses | 778 | 748 | 1,517 | 1,442 |
Total operating expenses | 5,983 | 5,525 | 11,599 | 10,751 |
Operating income | 1,176 | 1,100 | 2,289 | 2,141 |
Non-operating (income) expense, net | ||||
Retirement benefits non-service expense | 181 | 238 | 362 | 477 |
Interest expense | 45 | 46 | 89 | 93 |
Interest income | (7) | (8) | (20) | (15) |
Other (income) expense, net | (8) | (3) | (28) | 2 |
Total non-operating (income) expense, net | 211 | 273 | 403 | 557 |
Income from continuing operations before taxes | 965 | 827 | 1,886 | 1,584 |
Federal and foreign income taxes | 152 | 37 | 298 | 170 |
Income from continuing operations | 813 | 790 | 1,588 | 1,414 |
Income (loss) from discontinued operations, net of tax | 0 | 1 | 0 | 0 |
Net income | 813 | 791 | 1,588 | 1,414 |
Less: Net income (loss) attributable to noncontrolling interests in subsidiaries | (4) | (9) | (10) | (19) |
Net income attributable to Raytheon Company | $ 817 | $ 800 | $ 1,598 | $ 1,433 |
Basic earnings per share attributable to Raytheon Company common stockholders: | ||||
Income from continuing operations | $ 2.92 | $ 2.78 | $ 5.69 | $ 4.98 |
Income (loss) from discontinued operations, net of tax | 0 | 0 | 0 | 0 |
Net income | 2.92 | 2.78 | 5.69 | 4.98 |
Diluted earnings per share attributable to Raytheon Company common stockholders: | ||||
Income from continuing operations | 2.92 | 2.78 | 5.69 | 4.98 |
Income (loss) from discontinued operations, net of tax | 0 | 0 | 0 | 0 |
Net income | $ 2.92 | $ 2.78 | $ 5.69 | $ 4.97 |
Amounts attributable to Raytheon Company common stockholders: | ||||
Income from continuing operations | $ 817 | $ 799 | $ 1,598 | $ 1,433 |
Income (loss) from discontinued operations, net of tax | 0 | 1 | 0 | 0 |
Net income attributable to Raytheon Company | 817 | 800 | 1,598 | 1,433 |
Products [Member] | ||||
Net sales | ||||
Net sales | 5,994 | 5,507 | 11,556 | 10,761 |
Operating expenses | ||||
Cost of sales | 4,302 | 3,903 | 8,304 | 7,640 |
Services [Member] | ||||
Net sales | ||||
Net sales | 1,165 | 1,118 | 2,332 | 2,131 |
Operating expenses | ||||
Cost of sales | $ 903 | $ 874 | $ 1,778 | $ 1,669 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Net income | $ 813,000,000 | $ 791,000,000 | $ 1,588,000,000 | $ 1,414,000,000 |
Pension and other postretirement benefit plans, net: | ||||
Amortization of prior service cost | 2,000,000 | 2,000,000 | 3,000,000 | 3,000,000 |
Amortization of net actuarial loss | 274,000,000 | 346,000,000 | 550,000,000 | 693,000,000 |
Pension and other postretirement benefit plans, net | 276,000,000 | 348,000,000 | 553,000,000 | 696,000,000 |
Foreign exchange translation | (6,000,000) | (43,000,000) | 2,000,000 | (19,000,000) |
Cash flow hedges | 8,000,000 | 0 | (2,000,000) | (10,000,000) |
Unrealized gains (losses) on investments and other, net | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), before tax | 278,000,000 | 305,000,000 | 553,000,000 | 667,000,000 |
Income tax benefit (expense) related to items of other comprehensive income (loss) | (61,000,000) | (73,000,000) | (117,000,000) | (144,000,000) |
Other comprehensive income (loss), net of tax | 217,000,000 | 232,000,000 | 436,000,000 | 523,000,000 |
Reclassification of stranded tax effects | 0 | 0 | 0 | (1,451,000,000) |
Total comprehensive income (loss) | 1,030,000,000 | 1,023,000,000 | 2,024,000,000 | 486,000,000 |
Less: Comprehensive income (loss) attributable to noncontrolling interests in subsidiaries | (4,000,000) | (9,000,000) | (10,000,000) | (19,000,000) |
Comprehensive income attributable to Raytheon Company | $ 1,034,000,000 | $ 1,032,000,000 | $ 2,034,000,000 | $ 505,000,000 |
Consolidated Statements of Equi
Consolidated Statements of Equity (Unaudited) - USD ($) | Total | Common stock [Member] | Additional paid-in capital [Member] | Accumulated other comprehensive income (loss) [Member] | Retained earnings [Member] | Total Raytheon Company stockholders' equity [Member] | Noncontrolling interests in subsidiaries (1) [Member] | [1] |
Beginning Balance at Dec. 31, 2017 | $ 9,963,000,000 | $ 3,000,000 | $ 0 | $ (7,935,000,000) | $ 17,895,000,000 | $ 9,963,000,000 | $ 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to Raytheon Company | 1,433,000,000 | 1,433,000,000 | 1,433,000,000 | |||||
Net Income (loss) excluding redeemable noncontrolling interest | 1,433,000,000 | 0 | ||||||
Other comprehensive income (loss), net of tax | 523,000,000 | 523,000,000 | 523,000,000 | |||||
Reclassification of stranded tax effects | 0 | (1,451,000,000) | 1,451,000,000 | 0 | ||||
Adjustment of redeemable noncontrolling interests to redemption value | (19,000,000) | (19,000,000) | (19,000,000) | |||||
Dividends declared | (499,000,000) | 1,000,000 | (500,000,000) | (499,000,000) | ||||
Common stock plans activity | 97,000,000 | 97,000,000 | 97,000,000 | |||||
Share repurchases | (891,000,000) | (98,000,000) | (793,000,000) | (891,000,000) | ||||
Ending Balance at Jul. 01, 2018 | 10,607,000,000 | 3,000,000 | 0 | (8,863,000,000) | 19,467,000,000 | 10,607,000,000 | 0 | |
Beginning Balance at Apr. 01, 2018 | 10,237,000,000 | 3,000,000 | 0 | (9,095,000,000) | 19,329,000,000 | 10,237,000,000 | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to Raytheon Company | 800,000,000 | 800,000,000 | 800,000,000 | |||||
Net Income (loss) excluding redeemable noncontrolling interest | 800,000,000 | 0 | ||||||
Other comprehensive income (loss), net of tax | 232,000,000 | 232,000,000 | 232,000,000 | |||||
Adjustment of redeemable noncontrolling interests to redemption value | (30,000,000) | (30,000,000) | (30,000,000) | |||||
Dividends declared | (248,000,000) | 0 | (248,000,000) | (248,000,000) | ||||
Common stock plans activity | 35,000,000 | 35,000,000 | 35,000,000 | |||||
Share repurchases | (419,000,000) | (35,000,000) | (384,000,000) | (419,000,000) | ||||
Ending Balance at Jul. 01, 2018 | 10,607,000,000 | 3,000,000 | 0 | (8,863,000,000) | 19,467,000,000 | 10,607,000,000 | 0 | |
Beginning Balance at Dec. 31, 2018 | 11,472,000,000 | 3,000,000 | 0 | (8,618,000,000) | 20,087,000,000 | 11,472,000,000 | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to Raytheon Company | 1,598,000,000 | 1,598,000,000 | 1,598,000,000 | |||||
Net Income (loss) excluding redeemable noncontrolling interest | 1,598,000,000 | 0 | ||||||
Other comprehensive income (loss), net of tax | 436,000,000 | 436,000,000 | 436,000,000 | |||||
Adjustment of redeemable noncontrolling interests to redemption value | (2,000,000) | (2,000,000) | (2,000,000) | |||||
Dividends declared | (528,000,000) | 1,000,000 | (529,000,000) | (528,000,000) | ||||
Common stock plans activity | 94,000,000 | 94,000,000 | 94,000,000 | |||||
Share repurchases | (866,000,000) | (95,000,000) | (771,000,000) | (866,000,000) | ||||
Ending Balance at Jun. 30, 2019 | 12,204,000,000 | 3,000,000 | 0 | (8,182,000,000) | 20,383,000,000 | 12,204,000,000 | 0 | |
Beginning Balance at Mar. 31, 2019 | 11,708,000,000 | 3,000,000 | 0 | (8,399,000,000) | 20,104,000,000 | 11,708,000,000 | 0 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income attributable to Raytheon Company | 817,000,000 | 817,000,000 | 817,000,000 | |||||
Net Income (loss) excluding redeemable noncontrolling interest | 817,000,000 | 0 | ||||||
Other comprehensive income (loss), net of tax | 217,000,000 | 217,000,000 | 217,000,000 | |||||
Adjustment of redeemable noncontrolling interests to redemption value | (7,000,000) | (7,000,000) | (7,000,000) | |||||
Dividends declared | (264,000,000) | 0 | (264,000,000) | (264,000,000) | ||||
Common stock plans activity | 33,000,000 | 33,000,000 | 33,000,000 | |||||
Share repurchases | (300,000,000) | (33,000,000) | (267,000,000) | (300,000,000) | ||||
Ending Balance at Jun. 30, 2019 | $ 12,204,000,000 | $ 3,000,000 | $ 0 | $ (8,182,000,000) | $ 20,383,000,000 | $ 12,204,000,000 | $ 0 | |
[1] | Excludes redeemable noncontrolling interests which are not considered equity. See “Note 14: Redeemable Noncontrolling Interests” for additional information. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jul. 01, 2018 | |
Cash flows from operating activities | ||
Net income | $ 1,588,000,000 | $ 1,414,000,000 |
(Income) loss from discontinued operations, net of tax | 0 | 0 |
Income from continuing operations | 1,588,000,000 | 1,414,000,000 |
Adjustments to reconcile to net cash provided by (used in) operating activities from continuing operations, net of the effect of acquisitions and divestitures | ||
Depreciation and amortization | 291,000,000 | 274,000,000 |
Stock-based compensation | 91,000,000 | 101,000,000 |
Deferred income taxes | 3,000,000 | 8,000,000 |
Changes in assets and liabilities | ||
Receivables, net | 53,000,000 | 7,000,000 |
Contract assets and contract liabilities | (865,000,000) | (442,000,000) |
Inventories | (174,000,000) | (133,000,000) |
Prepaid expenses and other current assets | (17,000,000) | 62,000,000 |
Income taxes receivable/payable | (203,000,000) | 168,000,000 |
Accounts payable | (502,000,000) | (73,000,000) |
Accrued employee compensation | (157,000,000) | (98,000,000) |
Other current liabilities | 17,000,000 | (70,000,000) |
Accrued retiree benefits | 365,000,000 | 239,000,000 |
Other, net | (78,000,000) | (18,000,000) |
Net cash provided by (used in) operating activities from continuing operations | 412,000,000 | 1,439,000,000 |
Net cash provided by (used in) operating activities from discontinued operations | 0 | 1,000,000 |
Net cash provided by (used in) operating activities | 412,000,000 | 1,440,000,000 |
Cash flows from investing activities | ||
Additions to property, plant and equipment | (438,000,000) | (366,000,000) |
Additions to capitalized internal use software | (25,000,000) | (28,000,000) |
Maturities of short-term investments | 0 | 309,000,000 |
Payments for purchases of acquired companies, net of cash received | (8,000,000) | 0 |
Proceeds from sale of business, net of transaction costs | 0 | 11,000,000 |
Other | 2,000,000 | (3,000,000) |
Net cash provided by (used in) investing activities | (469,000,000) | (77,000,000) |
Cash flows from financing activities | ||
Dividends paid | (510,000,000) | (480,000,000) |
Net borrowings (payments) on commercial paper | 0 | 0 |
Other | (5,000,000) | (5,000,000) |
Net cash provided by (used in) financing activities | (1,381,000,000) | (1,376,000,000) |
Net increase (decrease) in cash, cash equivalents and restricted cash | (1,438,000,000) | (13,000,000) |
Cash, cash equivalents and restricted cash at beginning of the year | 3,624,000,000 | 3,115,000,000 |
Cash, cash equivalents and restricted cash at end of period | 2,186,000,000 | 3,102,000,000 |
Share Repurchase Program [Member] | ||
Cash flows from financing activities | ||
Repurchases of common stock | (800,000,000) | (800,000,000) |
Satisfy tax withholding [Member] | ||
Cash flows from financing activities | ||
Repurchases of common stock | $ (66,000,000) | $ (91,000,000) |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation We prepared the accompanying unaudited consolidated financial statements of Raytheon Company and all wholly-owned, majority-owned or otherwise controlled subsidiaries on the same basis as our annual audited financial statements. We condensed or omitted certain information and footnote disclosures normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Our quarterly financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2018 . As used in this report, the terms “we,” “us,” “our,” “Raytheon” and the “Company” mean Raytheon Company and its subsidiaries, unless the context indicates another meaning. In the opinion of management, our financial statements reflect all adjustments, which are of a normal recurring nature, necessary for presentation of financial statements for interim periods in accordance with U.S. GAAP and with the instructions to Form 10-Q in Article 10 of Securities and Exchange Commission (SEC) Regulation S-X. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of our financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates, and any such differences may be material to our financial statements. Effective January 1, 2019, we adopted the requirements of Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) using the modified retrospective approach as discussed below in “Note 3: Accounting Standards.” We reclassified certain balance sheet amounts to conform to our current period presentation. All amounts disclosed in this Form 10-Q reflect these changes. |
Proposed Merger with United Tec
Proposed Merger with United Technologies Corporation (UTC) | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Proposed Merger with United Technologies Corporation (UTC) | Proposed Merger with United Technologies Corporation (UTC) On June 9, 2019, Raytheon, United Technologies Corporation, a Delaware corporation (UTC), and Light Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of UTC (Merger Sub), entered into an Agreement and Plan of Merger (the Merger Agreement). The Merger Agreement provides for, among other things and subject to the satisfaction or waiver of specified conditions, the merger of Merger Sub with and into Raytheon (the Merger), with Raytheon surviving the Merger as a wholly-owned subsidiary of UTC. At the effective time of the Merger (the Effective Time), each share of common stock of Raytheon issued and outstanding immediately prior to the Effective Time (except for shares held by Raytheon as treasury stock) will be converted into the right to receive 2.3348 shares of common stock of UTC (and, if applicable, cash in lieu of fractional shares), less any applicable withholding taxes. At the Effective Time, Raytheon’s stockholders will hold approximately 43% , and UTC’s stockholders will hold approximately 57% , of the outstanding shares of common stock of UTC. The Merger Agreement also provides that, prior to the consummation of the Merger, UTC will complete the previously announced separation of its commercial businesses, Otis and Carrier, from its other businesses (the Separation), and the pro rata distributions to its stockholders of 100% of the common stock of the entity holding the Otis business and 100% of the common stock of the entity holding the Carrier business (the Distributions). The parties’ obligations to consummate the Separation, the Distributions and the Merger are subject to customary conditions, including the approval of the Merger by Raytheon’s stockholders, the approval of the issuance of shares of UTC Common Stock in connection with the Merger by UTC’s stockholders, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (HSR Act), and the receipt of other required regulatory approvals. In addition, the parties’ obligations to consummate the Merger are subject to the prior completion of the Separation and the Distributions. The Merger Agreement includes customary representations, warranties and covenants of Raytheon and UTC (generally excluding the Otis business and the Carrier business). Between the date of execution of the Merger Agreement and the Effective Time, each of Raytheon and UTC (generally with respect to its aerospace business) has agreed to use reasonable best efforts to conduct its businesses in all material respects in the ordinary course consistent with past practice and to comply with certain operating covenants. In addition, the Merger Agreement generally restricts certain actions by both Raytheon and UTC, including the incurrence or issuance of new debt in excess of $1 billion in the aggregate (unless used to refinance existing debt), acquisitions or divestitures in excess of $500 million in the aggregate, and repurchases or issuances of shares other than in accordance with our existing equity award programs. In addition, the Merger Agreement provides that, immediately prior to the consummation of the Merger, the adjusted net indebtedness of UTC’s aerospace business will not exceed an amount as provided for under the Merger Agreement. Subject to certain exceptions, each of Raytheon and UTC has agreed to use reasonable best efforts to cause the Merger to be completed. The Merger Agreement includes certain termination provisions for both UTC and Raytheon and provides that, in connection with a termination of the Merger Agreement under specified circumstances, Raytheon will be required to pay UTC a termination fee of $1.785 billion , or UTC will be required to pay Raytheon a termination fee of $2.365 billion . The Merger is expected to close in the first half of 2020, subject to and following completion by UTC of the Separation and Distributions. |
Accounting Standards
Accounting Standards | 6 Months Ended |
Jun. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Accounting Standards | Accounting Standards In February 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize a right-of-use asset and lease liability for most lease arrangements. Effective January 1, 2019, we adopted the requirements of the new lease standard using the modified retrospective approach, applying the new lease requirements at the beginning of the earliest period presented. In addition, we elected the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allows us to carry forward the historical lease classification. We did not elect the practical expedient to use hindsight in determining the lease term and in assessing impairment of right-of-use assets. The standard resulted in the recognition of operating lease right-of-use assets of $805 million and operating lease liabilities of $841 million , of which $194 million was classified as current and is included in other current liabilities in our consolidated balance sheet, as of December 31, 2018, with immaterial changes to other balance sheet accounts. The standard had no impact on our results of operations or cash flows. In addition, new disclosures are provided to enable users to assess the amount, timing and uncertainty of cash flows arising from leases. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement: Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820) , which eliminates the disclosure requirement of the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and modifies certain disclosure requirements related to Level 3 recurring and nonrecurring fair value measurements. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. Effective January 1, 2019, we elected to early adopt the requirements of the new standard on a prospective basis. The standard did not have an impact on our financial position, results of operations or liquidity. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-24): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. Effective January 1, 2019, we elected to early adopt the requirements of the new standard on a prospective basis. The standard did not have a material impact on our financial position, results of operations or liquidity. Other new pronouncements adopted and issued but not effective until after June 30, 2019 did not and are not expected to have a material impact on our financial position, results of operations or liquidity. |
Significant Accounting Policies
Significant Accounting Policies Update | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies Update | Significant Accounting Policies Update Our significant accounting policies are detailed in “Note 1: Summary of Significant Accounting Policies” within Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2018. Significant changes to our accounting policies as a result of adopting Topic 842 are discussed below: Leases — We determine if an arrangement is a lease or contains an embedded lease at inception. For lease agreements with both lease and nonlease components (e.g., common-area maintenance costs), we account for the nonlease components separately. Consideration is allocated to the lease and nonlease components based on the estimated standalone prices. All of our leases are operating leases. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. The current portion of operating lease liabilities is included in other current liabilities in our consolidated balance sheets. For the majority of our leases, the discount rate used to determine the present value of the lease payments is our incremental borrowing rate as of the lease commencement date, as the implicit rate is not readily determinable. The operating lease right-of-use assets also includes any initial direct costs and any lease payments made at or before the commencement date, and is reduced for any unrestricted incentives received at or before the commencement date. Some of our leases include options to extend or terminate the lease. We include these options in the recognition of our right-of-use assets and lease liabilities when it is reasonably certain that we will exercise the option. Very few of our leases include variable lease-related payments, such as escalation clauses based on consumer price index (CPI) rates, or residual guarantees. Variable payments that are based on an index or a rate are included in the recognition of our right-of-use assets and lease liabilities using the index or rate at lease commencement; however, changes to these lease payments due to rate or index updates are recorded as lease expense in the period incurred. Amounts probable of payment under residual guarantees are also included in the recognition of our right-of-use assets and lease liabilities. We have a companywide standard and disciplined quarterly Estimate at Completion (EAC) process in which management reviews the progress and execution of our performance obligations. As part of this process, management reviews information including, but not limited to, any outstanding key contract matters, progress towards completion and the related program schedule, identified risks and opportunities and the related changes in estimates of revenues and costs. The risks and opportunities include management’s judgment about the ability and cost to achieve the schedule (e.g., the number and type of milestone events), technical requirements (e.g., a newly-developed product versus a mature product) and other contract requirements. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), execution by our subcontractors, the availability and timing of funding from our customer, and overhead cost rates, among other variables. These estimates also include the estimated cost of satisfying our industrial cooperation agreements, sometimes in the form of either offset obligations or in-country industrial participation (ICIP) agreements, required under certain contracts. These obligations may or may not be distinct depending on their nature. Based on this analysis, any quarterly adjustments to net sales, cost of sales and the related impact to operating income are recognized as necessary in the period they become known. These adjustments may result from positive program performance, and may result in an increase in operating income during the performance of individual performance obligations, if we determine we will be successful in mitigating risks surrounding the technical, schedule and cost aspects of those performance obligations or realizing related opportunities. Likewise, these adjustments may result in a decrease in operating income if we determine we will not be successful in mitigating these risks or realizing related opportunities. Changes in estimates of net sales, cost of sales and the related impact to operating income are recognized quarterly on a cumulative catch-up basis, which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a performance obligation’s percentage of completion. A significant change in one or more of these estimates could affect the profitability of one or more of our performance obligations. When estimates of total costs to be incurred exceed total estimates of revenue to be earned on a performance obligation related to complex aerospace or defense equipment or related services, or product maintenance or separately priced extended warranty, a provision for the entire loss on the performance obligation is recognized in the period the loss is identified. Net EAC adjustments had the following impact on our operating results: Three Months Ended Six Months Ended (In millions, except per share amounts) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Operating income $ 123 $ 129 $ 246 $ 244 Income from continuing operations attributable to Raytheon Company 97 102 194 193 Diluted earnings per share (EPS) from continuing operations attributable to Raytheon Company $ 0.35 $ 0.35 $ 0.69 $ 0.67 In addition, net revenue recognized from our performance obligations satisfied in previous periods was $171 million and $162 million in the second quarters of 2019 and 2018 , respectively, and $329 million and $300 million in the first six months of 2019 and 2018 , respectively. This primarily relates to EAC adjustments that impacted revenue. |
Changes in Estimates under Perc
Changes in Estimates under Percentage of Completion Contract Accounting | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Changes in Estimates under Percentage of Completion Contract Accounting | Significant Accounting Policies Update Our significant accounting policies are detailed in “Note 1: Summary of Significant Accounting Policies” within Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2018. Significant changes to our accounting policies as a result of adopting Topic 842 are discussed below: Leases — We determine if an arrangement is a lease or contains an embedded lease at inception. For lease agreements with both lease and nonlease components (e.g., common-area maintenance costs), we account for the nonlease components separately. Consideration is allocated to the lease and nonlease components based on the estimated standalone prices. All of our leases are operating leases. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. The current portion of operating lease liabilities is included in other current liabilities in our consolidated balance sheets. For the majority of our leases, the discount rate used to determine the present value of the lease payments is our incremental borrowing rate as of the lease commencement date, as the implicit rate is not readily determinable. The operating lease right-of-use assets also includes any initial direct costs and any lease payments made at or before the commencement date, and is reduced for any unrestricted incentives received at or before the commencement date. Some of our leases include options to extend or terminate the lease. We include these options in the recognition of our right-of-use assets and lease liabilities when it is reasonably certain that we will exercise the option. Very few of our leases include variable lease-related payments, such as escalation clauses based on consumer price index (CPI) rates, or residual guarantees. Variable payments that are based on an index or a rate are included in the recognition of our right-of-use assets and lease liabilities using the index or rate at lease commencement; however, changes to these lease payments due to rate or index updates are recorded as lease expense in the period incurred. Amounts probable of payment under residual guarantees are also included in the recognition of our right-of-use assets and lease liabilities. We have a companywide standard and disciplined quarterly Estimate at Completion (EAC) process in which management reviews the progress and execution of our performance obligations. As part of this process, management reviews information including, but not limited to, any outstanding key contract matters, progress towards completion and the related program schedule, identified risks and opportunities and the related changes in estimates of revenues and costs. The risks and opportunities include management’s judgment about the ability and cost to achieve the schedule (e.g., the number and type of milestone events), technical requirements (e.g., a newly-developed product versus a mature product) and other contract requirements. Management must make assumptions and estimates regarding labor productivity and availability, the complexity of the work to be performed, the availability of materials, the length of time to complete the performance obligation (e.g., to estimate increases in wages and prices for materials and related support cost allocations), execution by our subcontractors, the availability and timing of funding from our customer, and overhead cost rates, among other variables. These estimates also include the estimated cost of satisfying our industrial cooperation agreements, sometimes in the form of either offset obligations or in-country industrial participation (ICIP) agreements, required under certain contracts. These obligations may or may not be distinct depending on their nature. Based on this analysis, any quarterly adjustments to net sales, cost of sales and the related impact to operating income are recognized as necessary in the period they become known. These adjustments may result from positive program performance, and may result in an increase in operating income during the performance of individual performance obligations, if we determine we will be successful in mitigating risks surrounding the technical, schedule and cost aspects of those performance obligations or realizing related opportunities. Likewise, these adjustments may result in a decrease in operating income if we determine we will not be successful in mitigating these risks or realizing related opportunities. Changes in estimates of net sales, cost of sales and the related impact to operating income are recognized quarterly on a cumulative catch-up basis, which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a performance obligation’s percentage of completion. A significant change in one or more of these estimates could affect the profitability of one or more of our performance obligations. When estimates of total costs to be incurred exceed total estimates of revenue to be earned on a performance obligation related to complex aerospace or defense equipment or related services, or product maintenance or separately priced extended warranty, a provision for the entire loss on the performance obligation is recognized in the period the loss is identified. Net EAC adjustments had the following impact on our operating results: Three Months Ended Six Months Ended (In millions, except per share amounts) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Operating income $ 123 $ 129 $ 246 $ 244 Income from continuing operations attributable to Raytheon Company 97 102 194 193 Diluted earnings per share (EPS) from continuing operations attributable to Raytheon Company $ 0.35 $ 0.35 $ 0.69 $ 0.67 In addition, net revenue recognized from our performance obligations satisfied in previous periods was $171 million and $162 million in the second quarters of 2019 and 2018 , respectively, and $329 million and $300 million in the first six months of 2019 and 2018 , respectively. This primarily relates to EAC adjustments that impacted revenue. |
Earnings per Share (EPS)
Earnings per Share (EPS) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings per Share (EPS) | Earnings Per Share (EPS) We compute basic and diluted EPS using actual income from continuing operations attributable to Raytheon Company common stockholders, income (loss) from discontinued operations attributable to Raytheon Company common stockholders and net income attributable to Raytheon Company, and our actual weighted-average shares outstanding rather than the numbers presented within our unaudited consolidated financial statements, which are rounded to the nearest million. As a result, it may not be possible to recalculate EPS as presented in our unaudited consolidated financial statements. Furthermore, it may not be possible to recalculate EPS attributable to Raytheon Company common stockholders by adjusting EPS from continuing operations by EPS from discontinued operations. We include all unvested stock awards that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in our basic EPS calculation as they are considered participating securities. As a result, we have included all of our outstanding unvested awards of restricted stock, as well as restricted stock units (RSUs) and Long-term Performance Plan (LTPP) awards that meet the retirement eligible criteria in our calculation of basic EPS. We disclose EPS for common stock and unvested stock-based payment awards, and separately disclose distributed and undistributed earnings. Distributed earnings represent common stock dividends and dividends earned on unvested awards of restricted stock and stock-based payment awards of retirement eligible employees. Undistributed earnings represent earnings that were available for distribution but were not distributed. Common stock and unvested stock-based payment awards earn dividends equally. As described in “Note 14: Redeemable Noncontrolling Interests,” we record redeemable noncontrolling interest related to Vista Equity Partners’ interest in Forcepoint. We reflect the redemption value adjustments related to this redeemable noncontrolling interest in both the basic and diluted EPS calculation for the portion of redemption value that is in excess of the fair value of noncontrolling interest. There was no impact to basic or diluted EPS in the second quarter or first six months of 2019 or 2018 related to the redemption value adjustments. EPS from continuing operations attributable to Raytheon Company common stockholders and unvested stock-based payment awards was as follows: Three Months Ended Six Months Ended Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Basic EPS attributable to Raytheon Company common stockholders: Distributed earnings $ 0.94 $ 0.86 $ 1.88 $ 1.73 Undistributed earnings 1.98 1.92 3.81 3.25 Total $ 2.92 $ 2.78 $ 5.69 $ 4.98 Diluted EPS attributable to Raytheon Company common stockholders: Distributed earnings $ 0.94 $ 0.86 $ 1.88 $ 1.73 Undistributed earnings 1.98 1.92 3.81 3.25 Total $ 2.92 $ 2.78 $ 5.69 $ 4.98 Income attributable to participating securities was as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Income from continuing operations attributable to participating securities $ 8 $ 8 $ 16 $ 15 Income (loss) from discontinued operations, net of tax attributable to participating securities — — — — Net income attributable to participating securities $ 8 $ 8 $ 16 $ 15 The weighted-average shares outstanding for basic and diluted EPS were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Shares for basic EPS (1) 279.7 287.3 280.8 287.9 Effect of dilutive securities 0.2 0.3 0.2 0.3 Shares for diluted EPS 279.9 287.6 281.0 288.2 (1) Includes 2.7 million and 2.9 million participating securities in the second quarters of 2019 and 2018 , respectively, and 2.7 million and 3.0 million participating securities in the first six months of 2019 and 2018 , respectively. |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories consisted of the following : (In millions) Jun 30, 2019 Dec 31, 2018 Materials and purchased parts $ 76 $ 75 Work in process 834 662 Finished goods 22 21 Total $ 932 $ 758 Precontract costs are costs incurred to fulfill a contract prior to contract award. Precontract costs, including general and administrative expenses that are specifically chargeable to the customer, are deferred in inventories if we determine that the costs are probable of recovery under a specific anticipated contract. All other precontract costs, including start-up costs, are expensed as incurred. Costs that are deferred are recognized as contract costs upon the receipt of the anticipated contract. We included deferred precontract costs of $298 million and $163 million in inventories as work in process at June 30, 2019 and December 31, 2018 , respectively. |
Contract Assets and Contract Li
Contract Assets and Contract Liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Contract with Customer, Asset and Liability [Abstract] | |
Contract Assets and Contract Liabilities | Contract Assets and Contract Liabilities Our contract assets consist of unbilled amounts typically resulting from sales under long-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer. Our contract liabilities consist of advance payments and billings in excess of costs incurred and deferred revenue. The noncurrent portion of deferred revenue is included in accrued retiree benefits and other long-term liabilities in our consolidated balance sheets. Net contract assets (liabilities) consisted of the following : (In millions, except percentages) Jun 30, 2019 Dec 31, 2018 $ Change % Change Contract assets $ 6,130 $ 5,594 $ 536 10 % Contract liabilities—current (2,944 ) (3,309 ) 365 11 % Contract liabilities—noncurrent (139 ) (150 ) 11 7 % Net contract assets (liabilities) $ 3,047 $ 2,135 $ 912 43 % The $912 million increase in our net contract assets (liabilities) from December 31, 2018 to June 30, 2019 was primarily due to a $536 million increase in our contract assets, principally due to contractual billing terms on U.S. government and foreign military sales contracts and the timing of approvals on direct commercial sales contracts for precision guided munitions to certain Middle Eastern customers. On May 24, 2019, the Administration announced an emergency certification authorizing the immediate export of 22 pending arms sales to Jordan, the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) , waiving the requirement of Congressional Notification of these arms sales. As a result, we were able to obtain the necessary regulatory approvals and licenses for contracts, which had approximately $1.2 billion of total contract value, and for which we have recognized approximately $950 million of sales for work performed to date and received approximately $350 million in advances as of June 30, 2019 . On a contract-by-contract basis, and excluding advances billed but not received, we had $600 million of net contract assets related to these contracts. For those contracts for which we have not yet obtained the regulatory approval and licenses and that are not subject to the emergency certification, we had approximately $1.1 billion of total contract value, recognized approximately $300 million of sales for work performed to date and received approximately $500 million in advances as of June 30, 2019 . On a contract-by-contract basis, and excluding advances billed but not received, we had $100 million and $300 million of net contract assets and net contract liabilities, respectively, related to the contracts pending approval. In the second quarter and first six months of 2019 , we recognized revenue of $496 million and $1,390 million , respectively, related to our contract liabilities at January 1, 2019 . In the second quarter and first six months of 2018 , we recognized revenue of $311 million and $963 million , respectively, related to our contract liabilities at January 1, 2018 . Impairment losses recognized on our receivables and contract assets were de minimis in the second quarters and first six months of 2019 and 2018 . |
Deferred Commissions
Deferred Commissions | 6 Months Ended |
Jun. 30, 2019 | |
Deferred Costs [Abstract] | |
Deferred Commissions | Deferred Commissions Our incremental direct costs of obtaining a contract, which consist of sales commissions primarily for our security software sales at Forcepoint, are deferred and amortized over the period of contract performance or a longer period, generally the estimated life of the customer relationship, if renewals are expected and the renewal commission is not commensurate with the initial commission. We classify deferred commissions as current or noncurrent based on the timing of when we expect to recognize the expense. The current and noncurrent portions of deferred commissions are included in prepaid expenses and other current assets, and other assets, net, respectively, in our consolidated balance sheets. At June 30, 2019 and December 31, 2018 , we had deferred commissions of $50 million and $55 million , respectively. Amortization expense related to deferred commissions was $9 million and $7 million in the second quarters of 2019 and 2018 , respectively, and $13 million and $15 million in the first six months of 2019 and 2018 , respectively. |
Acquisitions, Divestitures and
Acquisitions, Divestitures and Goodwill | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Acquisitions, Divestitures and Goodwill | Acquisitions, Divestitures and Goodwill In pursuing our business strategies, we acquire and make investments in certain businesses that meet strategic and financial criteria , and divest of certain non-core businesses, investments and assets when appropriate. We did no t have any divestitures in the first six months of 2019 . In 2013, we formed the Range Generation Next LLC (RGNext) joint venture with General Dynamics Information Technology (GDIT) through our Intelligence, Information and Services (IIS) segment, in which we held a 50% equity ownership that was accounted for using the equity method. On February 8, 2019, we amended and restated the RGNext joint venture agreement and acquired an additional 10% equity ownership in the joint venture, increasing our equity ownership to 60% and giving us control of the operations of RGNext. Effective as of February 8, 2019, we consolidate the results of RGNext in our consolidated financial statements and report its results in our IIS segment. We also remeasured our equity method investment in RGNext to fair value, which resulted in a non-cash gain of $21 million that was recorded in operating income through a reduction to cost of sales at our IIS segment; recognized redeemable noncontrolling interest for GDIT’s interest in RGNext at a fair value of $32 million ; and recognized $90 million of net assets, including cash acquired, at fair value. As part of our purchase price allocation, we recorded $19 million of goodwill, primarily related to the value of the existing workforce, and $34 million of intangible assets, primarily related to customer relationships with a weighted-average life of 7 years . Pro forma financial information and revenue from the date of acquisition has not been provided as it is not material. A rollforward of goodwill by segment was as follows: (In millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint (1) Total Balance at December 31, 2018 $ 1,704 $ 2,965 $ 4,154 $ 4,103 $ 1,938 $ 14,864 Acquisitions — 19 — — — 19 Effect of foreign exchange rates and other (1 ) — — — — (1 ) Balance at June 30, 2019 $ 1,703 $ 2,984 $ 4,154 $ 4,103 $ 1,938 $ 14,882 (1) At June 30, 2019 , Forcepoint’s fair value was estimated to exceed its net book value by approximately $900 million |
Derivative and Other Financial
Derivative and Other Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Summary of Derivative Instruments [Abstract] | |
Derivative and Other Financial Instruments | Derivatives and Other Financial Instruments Derivatives —Our primary market exposures are to foreign exchange rates and interest rates, and we use certain derivative financial instruments to help manage these exposures. We execute these instruments with financial institutions that we judge to be credit-worthy. The majority of our foreign currency forward contracts are denominated in currencies of major industrial countries. We do not hold or issue derivative financial instruments for trading or speculative purposes. We use foreign currency forward contracts to fix the functional currency value of specific commitments, payments and receipts denominated in foreign currencies. The aggregate notional amount of our outstanding foreign currency forward contracts was $1,737 million and $1,772 million at June 30, 2019 and December 31, 2018 , respectively. The net notional exposure of these contracts was $757 million and $840 million at June 30, 2019 and December 31, 2018 , respectively. We may also enter into and designate treasury rate lock contracts as cash flow hedges to reduce variability in cash flows due to changes in interest payments attributable to increases or decreases in the benchmark interest rate during the period leading up to the probable issuance of long-term debt. Cash flows associated with these instruments are presented in the same category as the cash flows from the hedged item. In May 2019, we entered into treasury rate lock contracts with a notional amount of $375 million , which will mature in the fourth quarter of 2019, in anticipation of the probable issuance of debt. These treasury rate lock contracts were designated as cash flow hedges and are included in the assessment of effectiveness. There were no treasury rate lock contracts outstanding at December 31, 2018 . The fair value of asset derivatives included in other assets, net and liability derivatives included in other current liabilities in our consolidated balance sheets related to foreign currency forward contracts and treasury rate lock contracts were as follows: (In millions) Jun 30, 2019 Dec 31, 2018 Asset derivatives related to foreign currency forward contracts $ 26 $ 26 Liability derivatives related to foreign currency forward contracts 30 34 Liability derivatives related to treasury rate lock contracts 7 — The fair value of these derivatives is Level 2 in the fair value hierarchy because they are determined based on a market approach utilizing externally quoted foreign currency forward rates and treasury rates for similar contracts. Our foreign currency forward contracts and treasury rate lock contracts contain offset or netting provisions to mitigate credit risk in the event of counterparty default, including payment default and cross default. We measure and record the impact of counterparty credit risk into our valuation and at June 30, 2019 and December 31, 2018 , the fair value of our counterparty default exposure was less than $1 million and was spread across numerous highly rated counterparties. Other Financial Instruments — We hold financial instruments, including cash and cash equivalents, commercial paper and long-term debt. The carrying amounts for cash and cash equivalents and commercial paper approximated their fair values. The carrying value of long-term debt was recorded at amortized cost. The estimated fair value of long-term debt was determined based on quoted prices in inactive markets, which falls within Level 2 of the fair value hierarchy. The carrying value and estimated fair value of long-term debt were as follows: (In millions) Jun 30, 2019 Dec 31, 2018 Carrying value of long-term debt (1) $ 4,757 $ 4,755 Fair value of long-term debt (2) 5,256 5,063 (1) Carrying value of long-term debt at June 30, 2019 includes current portion of long-term debt carrying value of $500 million . (2) Fair value of long-term debt at June 30, 2019 includes current portion of long-term debt fair value of $507 million . At June 30, 2019 , short-term commercial paper borrowings outstanding were $300 million , which had a weighted-average interest rate and original maturity period of 2.502% and 12 days , respectively. At December 31, 2018 , short-term commercial paper borrowings outstanding were $300 million , which had a weighted-average interest rate and original maturity period of 2.954% and 16 days , respectively. The commercial paper notes outstanding have original maturities of not more than 90 days from the date of issuance. Supplemental Cash Flow Information— Cash and cash equivalents reported within our consolidated balance sheets excludes restricted cash of $13 million and $16 million at June 30, 2019 and December 31, 2018 , respectively, which for purposes of our consolidated statements of cash flows, is included in cash, cash equivalents and restricted cash. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases | Leases We enter into operating leases primarily for: real estate, including for manufacturing, engineering, research, administration, sales and warehousing facilities; information technology (IT) equipment; and other equipment. At June 30, 2019 and December 31, 2018 , we did no t have any finance leases. Approximately 90% of our future lease commitments, and related lease liability, relate to our real estate leases. Some of our leases also include options to extend the lease or terminate the lease. A small portion of our leases include variable escalation clauses, which are typically based on CPI rates, or other variable lease-related payments. The components of lease expense were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Operating lease cost $ 60 $ 58 $ 113 $ 116 Variable lease cost (1) — — — — Sublease income (1 ) (2 ) (1 ) (2 ) Total lease cost $ 59 $ 56 $ 112 $ 114 (1) Variable lease cost was expense of less than $1 million in the second quarters and first six months of 2019 and 2018 . Gains and losses on sale and leaseback transactions were de minimis in the second quarters and first six months of 2019 and 2018 . At June 30, 2019 , our future lease payments under non-cancellable leases were as follows: (In millions) 2019 (excluding the six months ended June 30, 2019) $ 118 2020 212 2021 190 2022 145 2023 103 Thereafter 286 Total future lease payments (1) 1,054 Imputed interest (127 ) Total lease liabilities $ 927 (1) Total future lease payments excluded $20 million of future lease payments related to leases that were signed but had not yet commenced as of June 30, 2019 . Our lease liabilities recognized in our consolidated balance sheet at June 30, 2019 were as follows: (In millions) Operating lease liabilities—current $ 207 Operating lease liabilities—noncurrent 720 Total lease liabilities $ 927 The weighted-average remaining lease term related to our operating leases was 8 years and 7 years as of June 30, 2019 and December 31, 2018 , respectively. The weighted-average discount rate related to our operating leases was 3.1% as of June 30, 2019 and December 31, 2018 . Other information related to leases was as follows: Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Cash paid for amounts included in the measurement of operating lease liabilities $ 122 $ 124 Right-of-use assets obtained in exchange for new operating lease obligations 173 106 There were no material restrictions or covenants imposed by our leases at June 30, 2019 or December 31, 2018 . In addition, we do not have any related party leases and our sublease transactions are de minimis. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Environmental Matters — We are involved in various stages of investigation and cleanup related to remediation of various environmental sites. Our estimate of the liability of total environmental remediation costs includes the use of a discount rate and takes into account that a portion of these costs is eligible for future recovery through the pricing of our products and services to the U.S. government. We regularly assess the probability of recovery of these costs, which requires us to make assumptions about the extent of cost recovery under our contracts and the amount of future contract activity. We consider such recovery probable based on government contracting regulations and our long history of receiving reimbursement for such costs, and accordingly have recorded the estimated future recovery of these costs from the U.S. government within prepaid expenses and other current assets in our consolidated balance sheets. Our estimates regarding remediation costs to be incurred were as follows: (In millions, except percentages) Jun 30, 2019 Dec 31, 2018 Total remediation costs—undiscounted $ 193 $ 193 Weighted-average discount rate 5.1 % 5.1 % Total remediation costs—discounted $ 131 $ 128 Recoverable portion 86 82 We also lease certain government-owned properties and generally are not liable for remediation of preexisting environmental contamination at these sites. As a result, we generally do not provide for these costs in our consolidated financial statements. Due to the complexity of environmental laws and regulations, the varying costs and effectiveness of alternative cleanup methods and technologies, the uncertainty of insurance coverage, and the unresolved extent of our responsibility, it is difficult to determine the ultimate outcome of environmental matters. However, we do not expect any additional liability to have a material adverse effect on our financial position, results of operations or liquidity. Financing Arrangements and Other— We issue guarantees, and banks and surety companies issue, on our behalf, letters of credit and surety bonds, to meet various bid, performance, warranty, retention and advance payment obligations for us or our affiliates. These instruments expire on various dates through 2028. Additional guarantees of project performance for which there is no stated value also remain outstanding. The stated values outstanding consisted of the following : (In millions) Jun 30, 2019 Dec 31, 2018 Guarantees $ 222 $ 201 Letters of credit 2,260 2,503 Surety bonds 74 166 All guarantees at June 30, 2019 and December 31, 2018 related to our joint venture in Thales-Raytheon Systems Air and Missile Defense Command and Control S.A.S. (TRS AMDC2). We provide these guarantees, as well as letters of credit, to TRS AMDC2 and other affiliates to assist these entities in obtaining financing on more favorable terms, making bids on contracts and performing their contractual obligations. While we expect these entities to satisfy their loans and meet their project performance and other contractual obligations, their failure to do so may result in a future obligation to us. We periodically evaluate the risk of these entities failing to meet their obligations described above. At June 30, 2019 , we believe the risk that these entities will not be able to meet their obligations is minimal for the foreseeable future based on their current financial condition. All obligations were current at June 30, 2019 . We had an estimated liability of $2 million and $3 million at June 30, 2019 and December 31, 2018 , respectively, related to these guarantees. As discussed in “Note 14: Redeemable Noncontrolling Interests,” under the joint venture agreement between Raytheon Company and Vista Equity Partners, Raytheon may be required to purchase Vista Equity Partners’ interest in Forcepoint. We have entered into industrial cooperation agreements, sometimes in the form of either offset agreements or in-country industrial participation (ICIP) agreements, as a condition to obtaining orders for our products and services from certain customers in foreign countries. At June 30, 2019 , the aggregate amount of our offset agreements, both agreed to and anticipated to be agreed to, had an outstanding notional value of approximately $9.6 billion . These agreements are designed to return economic value to the foreign country by requiring us to engage in activities supporting local defense or commercial industries, promoting a balance of trade, developing in-country technology capabilities or addressing other local development priorities. Offset agreements may be satisfied through activities that do not require a direct cash payment, including transferring technology, providing manufacturing, training and other consulting support to in-country projects, and the purchase by third parties (e.g., our vendors) of supplies from in-country vendors. These agreements may also be satisfied through our use of cash for activities such as subcontracting with local partners, purchasing supplies from in-country vendors, providing financial support for in-country projects and making investments in local ventures. Such activities may also vary by country depending upon requirements as dictated by their governments. We typically do not commit to offset agreements until orders for our products or services are definitive. The amounts ultimately applied against our offset agreements are based on negotiations with the customers and typically require cash outlays that represent only a fraction of the notional value in the offset agreements. Offset programs usually extend over several or more years and may provide for penalties in the event we fail to perform in accordance with offset requirements. Historically, we have not been required to pay any penalties of significance. As a U.S. government contractor, we are subject to many levels of audit and investigation by the U.S. government relating to our contract performance and compliance with applicable rules and regulations. Agencies that oversee contract performance include: the Defense Contract Audit Agency (DCAA); the Defense Contract Management Agency (DCMA); the Inspectors General of the U.S. Department of Defense (DoD) and other departments and agencies; the Government Accountability Office (GAO); the Department of Justice (DOJ); and Congressional Committees. Other areas of our business operations may also be subject to audit and investigation by these and/or other agencies. From time to time, agencies investigate or conduct audits to determine whether our operations are being conducted in accordance with applicable requirements. Such investigations and audits may be initiated due to a number of reasons, including as a result of a whistleblower complaint. Such investigations and audits could result in administrative, civil or criminal liabilities, including repayments, fines or penalties being imposed upon us, the suspension of government export licenses or the suspension or debarment from future U.S. government contracting. U.S. government investigations often take years to complete and many result in no adverse action against us. Our final allowable incurred costs for each year are also subject to audit and have, from time to time, resulted in disputes between us and the U.S. government, with litigation resulting at the Court of Federal Claims (COFC) or the Armed Services Board of Contract Appeals (ASBCA) or their related courts of appeals. In addition, the DOJ has, from time to time, convened grand juries to investigate possible irregularities by us. We also provide products and services to customers outside of the U.S., and those sales are subject to local government laws, regulations and procurement policies and practices. Our compliance with such local government regulations or any applicable U.S. government regulations (e.g., the Foreign Corrupt Practices Act (FCPA) and International Traffic in Arms Regulations (ITAR)) may also be investigated or audited. Other than as specifically disclosed herein, we do not expect these audits, investigations or disputes to have a material effect on our financial position, results of operations or liquidity, either individually or in the aggregate. In addition, various other claims and legal proceedings generally incidental to the normal course of business are pending or threatened against, or initiated by, us. We do not expect any of these proceedings to result in any additional liability or gains that would materially affect our financial position, results of operations or liquidity. In connection with certain of our legal matters, we may be entitled to insurance recovery for qualified legal costs or other incurred costs. We do not expect any insurance recovery to have a material impact on the financial exposure that could result from these matters. |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interests | 6 Months Ended |
Jun. 30, 2019 | |
Noncontrolling Interest [Abstract] | |
Redeemable Noncontrolling Interests | Redeemable Noncontrolling Interests Forcepoint is a cybersecurity joint venture company with Vista Equity Partners. The joint venture agreement between Raytheon and Vista Equity Partners provides Vista Equity Partners with certain rights to require Forcepoint to pursue an initial public offering at any time after four years and three months following the closing date of May 29, 2015, or pursue a sale of the company at any time after five years following the closing date. In either of these events, Raytheon has the option to purchase all, but not less than all, of Vista Equity Partners’ interest in Forcepoint for cash at a price equal to fair value as determined under the joint venture agreement. Additionally, Vista Equity Partners has the ability to liquidate its ownership through a put option. The put option allows Vista Equity Partners to require Raytheon to purchase all, but not less than all, of Vista Equity Partners’ interest in Forcepoint for cash at a price equal to fair value as determined under the joint venture agreement. Lastly, Raytheon has the option to purchase all, but not less than all, of Vista Equity Partners’ interest in Forcepoint at a price equal to fair value as determined under the joint venture agreement. The joint venture agreement provides for the process under which the parties would determine the fair value of the interest and could result in a payment by Raytheon shortly after the exercise of Vista Equity Partners’ put option or Raytheon’s purchase option; however, the ultimate timing will depend on the actions of the parties and other factors. The estimate of fair value for purposes of presenting the redeemable noncontrolling interest in our consolidated balance sheets could differ from the parties’ determination of fair value for the interest under the joint venture agreement. Vista Equity Partners’ adjusted equity interest in the Forcepoint joint venture was 19.5% at June 30, 2019 . Vista Equity Partners’ interest in Forcepoint is presented as redeemable noncontrolling interest, outside of stockholders’ equity, in our consolidated balance sheets. The redeemable noncontrolling interest is recognized at the greater of the estimated redemption value as of the balance sheet date, which was $401 million at June 30, 2019 , or the carrying value, defined as the initial value adjusted for Vista Equity Partners’ share of the cumulative impact of net income (loss), other changes in accumulated other comprehensive income (loss) and additional contributions, which was $269 million at June 30, 2019 . Adjustments to the redemption value over the period from the date of acquisition to the redemption date are immediately recorded to retained earnings. As discussed in “Note 10: Acquisitions, Divestitures and Goodwill,” in February 2019, we amended and restated the RGNext joint venture agreement and acquired an additional 10% equity ownership in the joint venture, increasing our equity ownership to 60% and giving us control of the operations, with GDIT obtaining only protective rights. As a result, we now consolidate the results of RGNext in our consolidated financial statements. The amendment to the RGNext joint venture agreement provides GDIT with the ability to liquidate its ownership and receive an amount equal to its contributed capital (the redemption value). As such, GDIT’s interest in RGNext is presented as redeemable noncontrolling interest, outside of stockholders’ equity, in our consolidated balance sheets, and is recorded at the greater of its carrying value or the redemption value. A rollforward of redeemable noncontrolling interests was as follows: (In millions) Forcepoint RGNext Total Balance at March 31, 2019 $ 399 $ 33 $ 432 Net income (loss) (5 ) 1 (4 ) Other comprehensive income (loss), net of tax (1) — — — Adjustment of noncontrolling interests to redemption value 7 — 7 Balance at June 30, 2019 $ 401 $ 34 $ 435 Balance at December 31, 2018 $ 411 $ — $ 411 RGNext initial recognition — 32 32 Net income (loss) (12 ) 2 (10 ) Other comprehensive income (loss), net of tax (1) — — — Adjustment of noncontrolling interests to redemption value 2 — 2 Balance at June 30, 2019 $ 401 $ 34 $ 435 Balance at April 1, 2018 $ 492 $ — $ 492 Net income (loss) (9 ) — (9 ) Other comprehensive income (loss), net of tax (1 ) — (1 ) Adjustment of noncontrolling interests to redemption value 30 — 30 Balance at July 1, 2018 $ 512 $ — $ 512 Balance at December 31, 2017 $ 512 $ — $ 512 Net income (loss) (19 ) — (19 ) Other comprehensive income (loss), net of tax (1) — — — Adjustment of noncontrolling interests to redemption value 19 — 19 Balance at July 1, 2018 $ 512 $ — $ 512 (1) Other comprehensive income (loss), net of tax, related to Forcepoint was a loss of less than $1 million and income of less than $1 million for the second quarter and first six months of 2019 , respectively, and a loss of less than $1 million for the first six months of 2018 |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2019 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | Stockholders’ Equity The changes in shares of our common stock outstanding were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Beginning balance 280.1 287.2 282.1 288.4 Stock plans activity — — 1.1 1.0 Share repurchases (1.7 ) (2.0 ) (4.8 ) (4.2 ) Ending balance 278.4 285.2 278.4 285.2 From time to time, our Board of Directors authorizes the repurchase of shares of our common stock. In November 2015, our Board authorized the repurchase of up to $2.0 billion of our outstanding common stock. In November 2017, our Board also authorized the repurchase of up to an additional $2.0 billion of our outstanding common stock. At June 30, 2019 , we had approximately $0.7 billion available under the 2017 repurchase program. H owever, the merger agreement restricts us from repurchasing shares other than to satisfy tax withholding obligations. For more information refer to “Note 2: Proposed Merger with United Technologies Corporation (UTC) .” Share repurchases also include shares surrendered by employees to satisfy tax withholding obligations in connection with restricted stock, RSUs and LTPP awards issued to employees. Our share repurchases were as follows: Three Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 $ Shares $ Shares Shares repurchased under our share repurchase programs $ 300 1.7 $ 400 1.9 Shares repurchased to satisfy tax withholding obligations — — 19 0.1 Total share repurchases $ 300 1.7 $ 419 2.0 Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 $ Shares $ Shares Shares repurchased under our share repurchase programs $ 800 4.4 $ 800 3.8 Shares repurchased to satisfy tax withholding obligations 66 0.4 91 0.4 Total share repurchases $ 866 4.8 $ 891 4.2 In March 2019 , our Board of Directors authorized an 8.6% increase to our annual dividend payout rate from $3.47 to $3.77 per share. Our Board of Directors also declared dividends of $0.9425 and $1.885 per share during the second quarter and first six months of 2019 , respectively, compared to dividends of $0.8675 and $1.735 per share during the second quarter and first six months of 2018 , respectively. Dividends are subject to quarterly approval by our Board of Directors. Stock-based Compensation Plans On May 30, 2019 our stockholders approved the Raytheon 2019 Stock Plan. The 2019 Stock Plan provides for stock-based awards to be issued as restricted stock, RSUs, stock grants, stock options or stock appreciation rights, including awards based on performance criteria. The plan authorizes the issuance of 2.7 million shares in addition to shares remaining available for awards under the Raytheon 2010 Stock Plan as of December 31, 2018. The total maximum number of shares originally authorized for issuance under the 2019 Stock Plan, the 2010 Stock Plan and other prior Raytheon plans is 44.5 million . The 2019 Stock Plan provides that awards to our officers, employees and consultants are generally granted by the Management Development and Compensation Committee (MDCC) of our Board of Directors and are compensatory in nature, while awards to our non-employee directors are granted by the Board’s Governance and Nominating Committee. At June 30, 2019 , there were 7.9 million shares available for new awards and 2.9 million shares outstanding under the 2019 Stock Plan, the 2010 Stock Plan and other prior Raytheon plans. Restricted Stock and RSUs— During the first six months of 2019 , we granted 0.1 million combined shares of restricted stock and RSUs with a weighted-average grant-date fair value of $179.87 per share , calculated under the intrinsic value method. These awards generally vest in equal installments on each of the second, third and fourth anniversary dates of the award’s grant date. LTPP— During the first six months of 2019 , we granted RSUs subject to the 2019–2021 LTPP with an aggregate target award of 0.1 million units and a weighted-average grant-date fair value of $175.93 per share. The performance goals for the 2019–2021 LTPP awards are independent of each other and based on three metrics, as defined in the LTPP award agreements: return on invested capital (ROIC), weighted at 50% ; total shareholder return (TSR) relative to a peer group, weighted at 25% ; and cumulative free cash flow from continuing operations (CFCF), weighted at 25% . The ultimate award, which is determined at the end of the three-year cycle, can range from zero to 200% of the target award and includes dividend equivalents, which are not included in the aggregate target award numbers. The grant-date fair value is based upon the value determined under the intrinsic value method for the CFCF and ROIC portions of the award and the Monte Carlo simulation method for the TSR portion of the award. Forcepoint Plans— Forcepoint unit appreciation rights and profits interests vest over a specified period of time and settlement is subject to a liquidity event defined as either a change in control or an initial public offering of the joint venture. In certain limited circumstances other vesting conditions may apply. The impact attributable to these other vesting conditions was income of $2 million and expense of $3 million in the second quarters of 2019 and 2018 , respectively, and income of $4 million and expense of $4 million in the first six months of 2019 and 2018 , respectively. At June 30, 2019 , there were 174 thousand combined units and/or profits interests authorized for award under these plans. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) includes gains and losses associated with pension and other postretirement benefit (PRB) plans , foreign exchange translation adjustments, gains and losses on derivative instruments qualified as cash flow hedges included in the assessment of effectiveness, and unrealized gains (losses) on available-for-sale investments . The computation of other comprehensive income (loss) and its components are presented in the consolidated statements of comprehensive income. A rollforward of accumulated other comprehensive income (loss) was as follows: Pension and PRB plans, net (1) Foreign exchange translation Cash flow hedges (2) Unrealized gains (losses) on investments and other, net (3) Total (In millions) Balance at December 31, 2018 $ (8,483 ) $ (131 ) $ (2 ) $ (2 ) $ (8,618 ) Before tax amount 553 2 (2 ) — 553 Tax (expense) or benefit (116 ) — (1 ) — (117 ) Net of tax amount 437 2 (3 ) — 436 Balance at June 30, 2019 $ (8,046 ) $ (129 ) $ (5 ) $ (2 ) $ (8,182 ) Balance at December 31, 2017 $ (7,843 ) $ (95 ) $ 6 $ (3 ) $ (7,935 ) Before tax amount 696 (19 ) (10 ) — 667 Tax (expense) or benefit (146 ) — 2 — (144 ) Net of tax amount 550 (19 ) (8 ) — 523 Reclassification of stranded tax effects (1,452 ) — 1 — (1,451 ) Balance at July 1, 2018 $ (8,745 ) $ (114 ) $ (1 ) $ (3 ) $ (8,863 ) (1) Pension and PRB plans, net is shown net of cumulative tax benefits of $2,139 million and $2,255 million at June 30, 2019 and December 31, 2018 , respectively. (2) Cash flow hedges are shown net of cumulative tax benefits of zero and $1 million at June 30, 2019 and December 31, 2018 , respectively. (3) Unrealized gains (losses) on investments and other, net are shown net of cumulative tax expense of $1 million at June 30, 2019 and December 31, 2018 . In the first quarter of 2018, we reclassified the stranded tax effects related to the enactment of the Tax Cuts and Jobs Act of 2017 (2017 Act) from accumulated other comprehensive loss (AOCL) to retained earnings in accordance with ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . These stranded tax effects related to the deferred tax amounts at December 31, 2017 recorded through other comprehensive income prior to the enactment date using the prior 35% statutory tax rate that remained in other comprehensive income despite the fact that the related deferred tax assets and liabilities were remeasured to reflect the newly enacted tax rate of 21%. Other material amounts reclassified out of AOCL related to the amortization of net actuarial loss associated with our pension plans were $546 million and $688 million before tax in the first six months of 2019 and 2018 , respectively. This component of AOCL is included in the calculation of net periodic pension expense (income). See “Note 16: Pension and Other Employee Benefits” for additional details. We expect $2 million net of tax of net unrealized losses on our cash flow hedges at June 30, 2019 to be reclassified into earnings at then-current values over the next 12 months as the underlying hedged transactions occur. |
Pension and Other Employee Bene
Pension and Other Employee Benefits | 6 Months Ended |
Jun. 30, 2019 | |
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract] | |
Pension and Other Employee Benefits | Pension and Other Employee Benefits We have pension plans covering the majority of our employees hired prior to January 1, 2007, including certain employees in foreign countries (Pension Benefits). Our primary pension obligations relate to our domestic Internal Revenue Service (IRS) qualified pension plans. In addition, we provide certain health care and life insurance benefits to retired employees and to eligible employees upon retirement through PRB plans. We also sponsor nonqualified defined benefit and defined contribution plans to provide benefits in excess of qualified plan limits. We have set aside certain assets in a separate trust, which we expect to be used to pay for trust obligations. The fair value of marketable securities held in trust, which are considered Level 1 assets under the fair value hierarchy, consisted of the following : (In millions) Jun 30, 2019 Dec 31, 2018 Marketable securities held in trust $ 686 $ 642 Included in marketable securities held in trust in the table above was $429 million and $420 million at June 30, 2019 and December 31, 2018 , respectively, related to the nonqualified defined contribution plans. The liabilities related to the nonqualified defined contribution plans were $438 million and $431 million at June 30, 2019 and December 31, 2018 , respectively. The components of net periodic pension expense (income) were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Operating expense Service cost $ 104 $ 128 $ 209 $ 255 Non-operating expense Interest cost 261 252 522 505 Expected return on plan assets (360 ) (363 ) (719 ) (726 ) Amortization of prior service cost 2 2 3 3 Amortization of net actuarial loss 273 344 546 688 Total pension non-service expense 176 235 352 470 Net periodic pension expense (income) $ 280 $ 363 $ 561 $ 725 Net periodic pension expense (income) includes income of $1 million and $2 million from foreign Pension Benefits plans in the second quarters of 2019 and 2018 , respectively, and income of $2 million and $4 million in the first six months of 2019 and 2018 , respectively. Net periodic PRB expense was $5 million in both the second quarters of 2019 and 2018 , and $11 million and $10 million in the first six months of 2019 and 2018 , respectively. Long-term pension and PRB liabilities consisted of the following: (In millions) Jun 30, 2019 Dec 31, 2018 Long-term pension liabilities $ 5,922 $ 6,111 Long-term PRB liabilities 352 354 Total long-term pension and PRB liabilities $ 6,274 $ 6,465 We made the following contributions to our pension and PRB plans: Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Required pension contributions $ 196 $ 488 PRB contributions 11 9 Total $ 207 $ 497 We did no t make any discretionary contributions to our pension plans during the first six months of 2019 or 2018 ; however, we periodically evaluate whether to make discretionary contributions. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Income Taxes Paid, Net [Abstract] | |
Income Taxes | Income Taxes We are subject to income taxes in the U.S. and numerous foreign jurisdictions. With the exception of one matter related to the 2015 tax year, all IRS examinations related to originally filed returns are closed through the 2016 tax year. No amount related to the 2015 matter is reflected in unrecognized tax benefits as of June 30, 2019 . In 2018 we amended tax returns for tax years 2014–2016 to reflect refund claims related to increased Research and Development tax credits (R&D tax credits), which will be subject to audit. We are also under audit by multiple state and foreign tax authorities. In the second quarter of 2018, we determined we would make a $1.25 billion contribution to our pension plans in the third quarter of 2018, and as a result recorded a net tax benefit of $95 million in the second quarter of 2018. This was primarily due to the remeasurement of the related deferred tax asset balance at the 2017 tax rate of 35% versus the 2018 tax rate of 21% since the discretionary contribution was deductible on our 2017 tax return. This decreased our effective tax rate by 11.5% and 6.0% in the second quarter and first six months of 2018 , respectively. The balance of our unrecognized tax benefits, exclusive of interest, was $203 million and $92 million at June 30, 2019 and December 31, 2018 , respectively, the majority of which would affect our earnings if recognized. The increase in the balance of our unrecognized tax benefits during the first six months of 2019 is related to positions we expect to take on amended state tax returns. We accrue interest and penalties related to unrecognized tax benefits in tax expense. Interest and penalties recognized during the second quarter and first six months of 2019 and 2018 and accrued as of June 30, 2019 and December 31, 2018 were de minimis. |
Business Segment Reporting
Business Segment Reporting | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Business Segment Reporting | Business Segment Reporting Our reportable segments, organized based on capabilities and technologies, are: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint. Segment total net sales and operating income include intersegment sales and profit generally recorded at cost-plus a specified fee, which may differ from what the selling entity would be able to obtain on sales to external customers. Eliminations include intersegment sales and profit eliminations. Corporate operating income includes expenses that represent unallocated costs and certain other corporate costs not considered part of management’s evaluation of reportable segment operating performance. Acquisition Accounting Adjustments include the adjustments to record acquired deferred revenue at fair value as part of our purchase price allocation process and the amortization of acquired intangible assets related to historical acquisitions. Segment financial results were as follows: Three Months Ended Six Months Ended Total Net Sales (in millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Integrated Defense Systems $ 1,641 $ 1,514 $ 3,191 $ 3,003 Intelligence, Information and Services 1,777 1,687 3,554 3,269 Missile Systems 2,210 2,051 4,216 3,899 Space and Airborne Systems 1,817 1,605 3,470 3,173 Forcepoint 156 148 314 289 Eliminations (442 ) (376 ) (856 ) (733 ) Total business segment sales 7,159 6,629 13,889 12,900 Acquisition Accounting Adjustments — (4 ) (1 ) (8 ) Total $ 7,159 $ 6,625 $ 13,888 $ 12,892 Three Months Ended Six Months Ended Intersegment Sales (in millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Integrated Defense Systems $ 22 $ 15 $ 43 $ 30 Intelligence, Information and Services 183 167 351 329 Missile Systems 58 42 101 77 Space and Airborne Systems 173 148 346 287 Forcepoint 6 4 15 10 Total $ 442 $ 376 $ 856 $ 733 Three Months Ended Six Months Ended Operating Income (in millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Integrated Defense Systems $ 264 $ 262 $ 522 $ 535 Intelligence, Information and Services 161 128 348 245 Missile Systems 253 231 443 443 Space and Airborne Systems 229 206 441 399 Forcepoint (3 ) (8 ) (12 ) (15 ) Eliminations (46 ) (41 ) (93 ) (81 ) Total business segment operating income 858 778 1,649 1,526 Acquisition Accounting Adjustments (27 ) (34 ) (55 ) (67 ) FAS/CAS Operating Adjustment 363 353 729 707 Corporate (18 ) 3 (34 ) (25 ) Total $ 1,176 $ 1,100 $ 2,289 $ 2,141 Three Months Ended Six Months Ended Intersegment Operating Income (in millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Integrated Defense Systems $ 2 $ 1 $ 4 $ 3 Intelligence, Information and Services 18 17 35 34 Missile Systems 5 4 9 7 Space and Airborne Systems 17 15 34 29 Forcepoint 4 4 11 8 Total $ 46 $ 41 $ 93 $ 81 The FAS/CAS Operating Adjustment, which is reported as a separate line in our segment results above, represents the difference between the service cost component of our pension and PRB expense or income under Financial Accounting Standards (FAS) in accordance with U.S. GAAP and our pension and PRB expense under U.S. government Cost Accounting Standards (CAS). The results of each segment only include pension and PRB expense under CAS that we generally recover through the pricing of our products and services to the U.S. government. The pension and PRB components of the FAS/CAS Operating Adjustment were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 FAS/CAS Pension Operating Adjustment $ 361 $ 350 $ 723 $ 701 FAS/CAS PRB Operating Adjustment 2 3 6 6 FAS/CAS Operating Adjustment $ 363 $ 353 $ 729 $ 707 Total assets for each of our business segments were as follows: Total Assets (in millions) Jun 30, 2019 Dec 31, 2018 (2) Integrated Defense Systems (1) $ 4,965 $ 4,826 Intelligence, Information and Services (1) 4,372 4,238 Missile Systems (1) 8,769 8,229 Space and Airborne Systems (1) 6,897 6,740 Forcepoint (1) 2,422 2,529 Corporate 4,761 6,108 Total $ 32,186 $ 32,670 (1) Total assets includes intangible assets. Related amortization expense is included in Acquisition Accounting Adjustments. (2) Amounts have been recast to reflect the adoption of ASU 2016-02, Leases (Topic 842) . Operating lease right-of-use assets are all recorded at Corporate. We disaggregate our revenue from contracts with customers by geographic location, customer-type and contract-type for each of our segments, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. See details in the tables below. Three Months Ended June 30, 2019 Disaggregation of Total Net Sales (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Other Total United States Sales to the U.S. government (1) Fixed-price contracts $ 206 $ 224 $ 715 $ 632 $ 40 $ — $ 1,817 Cost-type contracts 466 1,132 794 713 4 — 3,109 Direct commercial sales and other U.S. sales Fixed-price contracts 1 31 8 32 45 — 117 Cost-type contracts — 5 — — — — 5 Asia/Pacific Foreign military sales through the U.S. government Fixed-price contracts 45 61 128 36 — — 270 Cost-type contracts 16 9 7 8 — — 40 Direct commercial sales and other foreign sales (1) Fixed-price contracts 187 48 49 58 16 — 358 Cost-type contracts 19 — 1 — — — 20 Middle East and North Africa Foreign military sales through the U.S. government Fixed-price contracts 171 6 191 83 — — 451 Cost-type contracts 52 5 4 22 — — 83 Direct commercial sales and other foreign sales (1) Fixed-price contracts 262 9 150 1 8 — 430 Cost-type contracts — — 18 — — — 18 All other (principally Europe) Foreign military sales through the U.S. government Fixed-price contracts 132 — 37 20 — — 189 Cost-type contracts 12 — 10 2 — — 24 Direct commercial sales and other foreign sales (1) Fixed-price contracts 47 53 40 37 37 — 214 Cost-type contracts 3 11 — — — — 14 Total net sales 1,619 1,594 2,152 1,644 150 — 7,159 Intersegment sales 22 183 58 173 6 (442 ) — Acquisition Accounting Adjustments — — — — — — — Reconciliation to business segment sales $ 1,641 $ 1,777 $ 2,210 $ 1,817 $ 156 $ (442 ) $ 7,159 (1) Excludes foreign military sales through the U.S. government. Three Months Ended June 30, 2019 Total Net Sales by Geographic Area (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total United States $ 673 $ 1,392 $ 1,517 $ 1,377 $ 89 $ 5,048 Asia/Pacific 267 118 185 102 16 688 Middle East and North Africa 485 20 363 106 8 982 All other (principally Europe) 194 64 87 59 37 441 Total net sales $ 1,619 $ 1,594 $ 2,152 $ 1,644 $ 150 $ 7,159 Three Months Ended June 30, 2019 Total Net Sales by Major Customer (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Sales to the U.S. government (1) $ 672 $ 1,356 $ 1,509 $ 1,345 $ 44 $ 4,926 U.S. direct commercial sales and other U.S. sales 1 36 8 32 45 122 Foreign military sales through the U.S. government 428 81 377 171 — 1,057 Foreign direct commercial sales and other foreign sales (1) 518 121 258 96 61 1,054 Total net sales $ 1,619 $ 1,594 $ 2,152 $ 1,644 $ 150 $ 7,159 (1) Excludes foreign military sales through the U.S. government. Three Months Ended June 30, 2019 Total Net Sales by Contract-Type (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Fixed-price contracts $ 1,051 $ 432 $ 1,318 $ 899 $ 146 $ 3,846 Cost-type contracts 568 1,162 834 745 4 3,313 Total net sales $ 1,619 $ 1,594 $ 2,152 $ 1,644 $ 150 $ 7,159 Three Months Ended July 1, 2018 Disaggregation of Total Net Sales (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Other Total United States Sales to the U.S. government (1) Fixed-price contracts $ 198 $ 250 $ 651 $ 525 $ 21 $ — $ 1,645 Cost-type contracts 411 1,043 685 642 4 — 2,785 Direct commercial sales and other U.S. sales Fixed-price contracts 2 29 10 31 51 — 123 Cost-type contracts — 6 1 1 — — 8 Asia/Pacific Foreign military sales through the U.S. government Fixed-price contracts 50 51 113 37 — — 251 Cost-type contracts 22 11 21 5 — — 59 Direct commercial sales and other foreign sales (1) Fixed-price contracts 191 53 44 51 17 — 356 Cost-type contracts 42 — — — — — 42 Middle East and North Africa Foreign military sales through the U.S. government Fixed-price contracts 243 6 126 64 — — 439 Cost-type contracts 38 1 7 17 — — 63 Direct commercial sales and other foreign sales (1) Fixed-price contracts 227 4 240 35 8 — 514 Cost-type contracts — — — — — — — All other (principally Europe) Foreign military sales through the U.S. government Fixed-price contracts 28 — 32 12 — — 72 Cost-type contracts 7 — 20 1 — — 28 Direct commercial sales and other foreign sales (1) Fixed-price contracts 37 58 58 36 39 — 228 Cost-type contracts 3 8 1 — — — 12 Total net sales 1,499 1,520 2,009 1,457 140 — 6,625 Intersegment sales 15 167 42 148 4 (376 ) — Acquisition Accounting Adjustments — — — — 4 (4 ) — Reconciliation to business segment sales $ 1,514 $ 1,687 $ 2,051 $ 1,605 $ 148 $ (380 ) $ 6,625 (1) Excludes foreign military sales through the U.S. government. Three Months Ended July 1, 2018 Total Net Sales by Geographic Area (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total United States $ 611 $ 1,328 $ 1,347 $ 1,199 $ 76 $ 4,561 Asia/Pacific 305 115 178 93 17 708 Middle East and North Africa 508 11 373 116 8 1,016 All other (principally Europe) 75 66 111 49 39 340 Total net sales $ 1,499 $ 1,520 $ 2,009 $ 1,457 $ 140 $ 6,625 Three Months Ended July 1, 2018 Total Net Sales by Major Customer (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Sales to the U.S. government (1) $ 609 $ 1,293 $ 1,336 $ 1,167 $ 25 $ 4,430 U.S. direct commercial sales and other U.S. sales 2 35 11 32 51 131 Foreign military sales through the U.S. government 388 69 319 136 — 912 Foreign direct commercial sales and other foreign sales (1) 500 123 343 122 64 1,152 Total net sales $ 1,499 $ 1,520 $ 2,009 $ 1,457 $ 140 $ 6,625 (1) Excludes foreign military sales through the U.S. government. Three Months Ended July 1, 2018 Total Net Sales by Contract-Type (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Fixed-price contracts $ 976 $ 451 $ 1,274 $ 791 $ 136 $ 3,628 Cost-type contracts 523 1,069 735 666 4 2,997 Total net sales $ 1,499 $ 1,520 $ 2,009 $ 1,457 $ 140 $ 6,625 Six Months Ended June 30, 2019 Disaggregation of Total Net Sales (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Other Total United States Sales to the U.S. government (1) Fixed-price contracts $ 427 $ 449 $ 1,423 $ 1,181 $ 76 $ — $ 3,556 Cost-type contracts 891 2,283 1,492 1,372 8 — 6,046 Direct commercial sales and other U.S. sales Fixed-price contracts 2 64 16 58 89 — 229 Cost-type contracts — 9 — 1 1 — 11 Asia/Pacific Foreign military sales through the U.S. government Fixed-price contracts 85 134 251 68 — — 538 Cost-type contracts 34 20 23 16 — — 93 Direct commercial sales and other foreign sales (1) Fixed-price contracts 355 89 81 106 32 — 663 Cost-type contracts 36 — 1 — — — 37 Middle East and North Africa Foreign military sales through the U.S. government Fixed-price contracts 439 9 307 157 — — 912 Cost-type contracts 100 10 9 42 — — 161 Direct commercial sales and other foreign sales (1) Fixed-price contracts 458 16 295 19 16 — 804 Cost-type contracts — — 37 — — — 37 All other (principally Europe) Foreign military sales through the U.S. government Fixed-price contracts 212 1 71 36 — — 320 Cost-type contracts 23 — 26 2 — — 51 Direct commercial sales and other foreign sales (1) Fixed-price contracts 81 102 82 66 76 — 407 Cost-type contracts 5 17 1 — — — 23 Total net sales 3,148 3,203 4,115 3,124 298 — 13,888 Intersegment sales 43 351 101 346 15 (856 ) — Acquisition Accounting Adjustments — — — — 1 (1 ) — Reconciliation to business segment sales $ 3,191 $ 3,554 $ 4,216 $ 3,470 $ 314 $ (857 ) $ 13,888 (1) Excludes foreign military sales through the U.S. government. Six Months Ended June 30, 2019 Total Net Sales by Geographic Area (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total United States $ 1,320 $ 2,805 $ 2,931 $ 2,612 $ 174 $ 9,842 Asia/Pacific 510 243 356 190 32 1,331 Middle East and North Africa 997 35 648 218 16 1,914 All other (principally Europe) 321 120 180 104 76 801 Total net sales $ 3,148 $ 3,203 $ 4,115 $ 3,124 $ 298 $ 13,888 Six Months Ended June 30, 2019 Total Net Sales by Major Customer (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Sales to the U.S. government (1) $ 1,318 $ 2,732 $ 2,915 $ 2,553 $ 84 $ 9,602 U.S. direct commercial sales and other U.S. sales 2 73 16 59 90 240 Foreign military sales through the U.S. government 893 174 687 321 — 2,075 Foreign direct commercial sales and other foreign sales (1) 935 224 497 191 124 1,971 Total net sales $ 3,148 $ 3,203 $ 4,115 $ 3,124 $ 298 $ 13,888 (1) Excludes foreign military sales through the U.S. government. Six Months Ended June 30, 2019 Total Net Sales by Contract-Type (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Fixed-price contracts $ 2,059 $ 864 $ 2,526 $ 1,691 $ 289 $ 7,429 Cost-type contracts 1,089 2,339 1,589 1,433 9 6,459 Total net sales $ 3,148 $ 3,203 $ 4,115 $ 3,124 $ 298 $ 13,888 Six Months Ended July 1, 2018 Disaggregation of Total Net Sales (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Other Total United States Sales to the U.S. government (1) Fixed-price contracts $ 425 $ 502 $ 1,234 $ 1,070 $ 42 $ — $ 3,273 Cost-type contracts 813 1,999 1,313 1,286 7 — 5,418 Direct commercial sales and other U.S. sales Fixed-price contracts 4 56 23 57 100 — 240 Cost-type contracts 1 9 — 1 — — 11 Asia/Pacific Foreign military sales through the U.S. government Fixed-price contracts 80 102 209 66 — — 457 Cost-type contracts 47 25 39 6 — — 117 Direct commercial sales and other foreign sales (1) Fixed-price contracts 337 97 87 101 32 — 654 Cost-type contracts 69 — 1 — — — 70 Middle East and North Africa Foreign military sales through the U.S. government Fixed-price contracts 438 10 206 118 — — 772 Cost-type contracts 70 1 14 32 — — 117 Direct commercial sales and other foreign sales (1) Fixed-price contracts 574 9 470 56 15 — 1,124 Cost-type contracts — — — — — — — All other (principally Europe) Foreign military sales through the U.S. government Fixed-price contracts 25 — 58 22 — — 105 Cost-type contracts 15 — 44 2 — — 61 Direct commercial sales and other foreign sales (1) Fixed-price contracts 70 110 123 69 75 — 447 Cost-type contracts 5 20 1 — — — 26 Total net sales 2,973 2,940 3,822 2,886 271 — 12,892 Intersegment sales 30 329 77 287 10 (733 ) — Acquisition Accounting Adjustments — — — — 8 (8 ) — Reconciliation to business segment sales $ 3,003 $ 3,269 $ 3,899 $ 3,173 $ 289 $ (741 ) $ 12,892 (1) Excludes foreign military sales through the U.S. government. Six Months Ended July 1, 2018 Total Net Sales by Geographic Area (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total United States $ 1,243 $ 2,566 $ 2,570 $ 2,414 $ 149 $ 8,942 Asia/Pacific 533 224 336 173 32 1,298 Middle East and North Africa 1,082 20 690 206 15 2,013 All other (principally Europe) 115 130 226 93 75 639 Total net sales $ 2,973 $ 2,940 $ 3,822 $ 2,886 $ 271 $ 12,892 Six Months Ended July 1, 2018 Total Net Sales by Major Customer (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Sales to the U.S. government (1) $ 1,238 $ 2,501 $ 2,547 $ 2,356 $ 49 $ 8,691 U.S. direct commercial sales and other U.S. sales 5 65 23 58 100 251 Foreign military sales through the U.S. government 675 138 570 246 — 1,629 Foreign direct commercial sales and other foreign sales (1) 1,055 236 682 226 122 2,321 Total net sales $ 2,973 $ 2,940 $ 3,822 $ 2,886 $ 271 $ 12,892 (1) Excludes foreign military sales through the U.S. government. Six Months Ended July 1, 2018 Total Net Sales by Contract-Type (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Fixed-price contracts $ 1,953 $ 886 $ 2,410 $ 1,559 $ 264 $ 7,072 Cost-type contracts 1,020 2,054 1,412 1,327 7 5,820 Total net sales $ 2,973 $ 2,940 $ 3,822 $ 2,886 $ 271 $ 12,892 |
Remaining Performance Obligatio
Remaining Performance Obligations | 6 Months Ended |
Jun. 30, 2019 | |
Revenue, Performance Obligation [Abstract] | |
Remaining Performance Obligations | Remaining Performance Obligations Remaining performance obligations represents the transaction price of firm orders for which work has not been performed and excludes unexercised contract options and potential orders under ordering-type contracts (e.g., indefinite-delivery, indefinite-quantity (IDIQ)). As of June 30, 2019 , the aggregate amount of the transaction price allocated to remaining performance obligations was $43,131 million . We expect to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter. Recent events have caused increased attention on U.S. defense sales to KSA. KSA represents less than 5% of our sales and $2.4 billion of our remaining performance obligations at June 30, 2019 . Although we currently do not expect to be prevented from doing business in KSA, if government action impairs our ability to fulfill our contractual obligations or otherwise to continue to do business in KSA, it would have a material adverse effect on our financial results. |
Significant Accounting Polici_2
Significant Accounting Policies Update (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Leases [Policy Text Block] | Leases — We determine if an arrangement is a lease or contains an embedded lease at inception. For lease agreements with both lease and nonlease components (e.g., common-area maintenance costs), we account for the nonlease components separately. Consideration is allocated to the lease and nonlease components based on the estimated standalone prices. All of our leases are operating leases. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. The current portion of operating lease liabilities is included in other current liabilities in our consolidated balance sheets. For the majority of our leases, the discount rate used to determine the present value of the lease payments is our incremental borrowing rate as of the lease commencement date, as the implicit rate is not readily determinable. The operating lease right-of-use assets also includes any initial direct costs and any lease payments made at or before the commencement date, and is reduced for any unrestricted incentives received at or before the commencement date. Some of our leases include options to extend or terminate the lease. We include these options in the recognition of our right-of-use assets and lease liabilities when it is reasonably certain that we will exercise the option. Very few of our leases include variable lease-related payments, such as escalation clauses based on consumer price index (CPI) rates, or residual guarantees. Variable payments that are based on an index or a rate are included in the recognition of our right-of-use assets and lease liabilities using the index or rate at lease commencement; however, changes to these lease payments due to rate or index updates are recorded as lease expense in the period incurred. Amounts probable of payment under residual guarantees are also included in the recognition of our right-of-use assets and lease liabilities. |
Changes in Estimates under Pe_2
Changes in Estimates under Percentage of Completion Contract Accounting (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Net EAC Adjustments | Net EAC adjustments had the following impact on our operating results: Three Months Ended Six Months Ended (In millions, except per share amounts) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Operating income $ 123 $ 129 $ 246 $ 244 Income from continuing operations attributable to Raytheon Company 97 102 194 193 Diluted earnings per share (EPS) from continuing operations attributable to Raytheon Company $ 0.35 $ 0.35 $ 0.69 $ 0.67 |
Earnings per Share (EPS) (Table
Earnings per Share (EPS) (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
EPS from Continuing Operations | EPS from continuing operations attributable to Raytheon Company common stockholders and unvested stock-based payment awards was as follows: Three Months Ended Six Months Ended Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Basic EPS attributable to Raytheon Company common stockholders: Distributed earnings $ 0.94 $ 0.86 $ 1.88 $ 1.73 Undistributed earnings 1.98 1.92 3.81 3.25 Total $ 2.92 $ 2.78 $ 5.69 $ 4.98 Diluted EPS attributable to Raytheon Company common stockholders: Distributed earnings $ 0.94 $ 0.86 $ 1.88 $ 1.73 Undistributed earnings 1.98 1.92 3.81 3.25 Total $ 2.92 $ 2.78 $ 5.69 $ 4.98 |
Income Attributable to Participating Securities | Income attributable to participating securities was as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Income from continuing operations attributable to participating securities $ 8 $ 8 $ 16 $ 15 Income (loss) from discontinued operations, net of tax attributable to participating securities — — — — Net income attributable to participating securities $ 8 $ 8 $ 16 $ 15 |
Weighted-Average Shares Outstanding for Basic and Diluted EPS | The weighted-average shares outstanding for basic and diluted EPS were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Shares for basic EPS (1) 279.7 287.3 280.8 287.9 Effect of dilutive securities 0.2 0.3 0.2 0.3 Shares for diluted EPS 279.9 287.6 281.0 288.2 (1) Includes 2.7 million and 2.9 million participating securities in the second quarters of 2019 and 2018 , respectively, and 2.7 million and 3.0 million participating securities in the first six months of 2019 and 2018 , respectively. |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventories | Inventories consisted of the following : (In millions) Jun 30, 2019 Dec 31, 2018 Materials and purchased parts $ 76 $ 75 Work in process 834 662 Finished goods 22 21 Total $ 932 $ 758 |
Contract Assets and Contract _2
Contract Assets and Contract Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Contract with Customer, Asset and Liability [Abstract] | |
Net Contract Assets (Liabilities) | Net contract assets (liabilities) consisted of the following : (In millions, except percentages) Jun 30, 2019 Dec 31, 2018 $ Change % Change Contract assets $ 6,130 $ 5,594 $ 536 10 % Contract liabilities—current (2,944 ) (3,309 ) 365 11 % Contract liabilities—noncurrent (139 ) (150 ) 11 7 % Net contract assets (liabilities) $ 3,047 $ 2,135 $ 912 43 % |
Acquisitions, Divestitures an_2
Acquisitions, Divestitures and Goodwill (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Rollforward of Goodwill by Segment | A rollforward of goodwill by segment was as follows: (In millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint (1) Total Balance at December 31, 2018 $ 1,704 $ 2,965 $ 4,154 $ 4,103 $ 1,938 $ 14,864 Acquisitions — 19 — — — 19 Effect of foreign exchange rates and other (1 ) — — — — (1 ) Balance at June 30, 2019 $ 1,703 $ 2,984 $ 4,154 $ 4,103 $ 1,938 $ 14,882 (1) At June 30, 2019 , Forcepoint’s fair value was estimated to exceed its net book value by approximately $900 million |
Derivative and Other Financia_2
Derivative and Other Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Summary of Derivative Instruments [Abstract] | |
Schedule of Derivative Assets and Liabilities | The fair value of asset derivatives included in other assets, net and liability derivatives included in other current liabilities in our consolidated balance sheets related to foreign currency forward contracts and treasury rate lock contracts were as follows: (In millions) Jun 30, 2019 Dec 31, 2018 Asset derivatives related to foreign currency forward contracts $ 26 $ 26 Liability derivatives related to foreign currency forward contracts 30 34 Liability derivatives related to treasury rate lock contracts 7 — |
Schedule of Long-term Debt Details | The carrying value and estimated fair value of long-term debt were as follows: (In millions) Jun 30, 2019 Dec 31, 2018 Carrying value of long-term debt (1) $ 4,757 $ 4,755 Fair value of long-term debt (2) 5,256 5,063 (1) Carrying value of long-term debt at June 30, 2019 includes current portion of long-term debt carrying value of $500 million . (2) Fair value of long-term debt at June 30, 2019 includes current portion of long-term debt fair value of $507 million . |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Components of lease expense | The components of lease expense were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Operating lease cost $ 60 $ 58 $ 113 $ 116 Variable lease cost (1) — — — — Sublease income (1 ) (2 ) (1 ) (2 ) Total lease cost $ 59 $ 56 $ 112 $ 114 (1) Variable lease cost was expense of less than $1 million in the second quarters and first six months of 2019 and 2018 . |
Future lease payments | At June 30, 2019 , our future lease payments under non-cancellable leases were as follows: (In millions) 2019 (excluding the six months ended June 30, 2019) $ 118 2020 212 2021 190 2022 145 2023 103 Thereafter 286 Total future lease payments (1) 1,054 Imputed interest (127 ) Total lease liabilities $ 927 (1) Total future lease payments excluded $20 million of future lease payments related to leases that were signed but had not yet commenced as of June 30, 2019 . |
Operating lease payments recognized in statement of financial position | Our lease liabilities recognized in our consolidated balance sheet at June 30, 2019 were as follows: (In millions) Operating lease liabilities—current $ 207 Operating lease liabilities—noncurrent 720 Total lease liabilities $ 927 |
Other information related to operating leases | Other information related to leases was as follows: Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Cash paid for amounts included in the measurement of operating lease liabilities $ 122 $ 124 Right-of-use assets obtained in exchange for new operating lease obligations 173 106 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Estimates of Total Remediation Costs | Our estimates regarding remediation costs to be incurred were as follows: (In millions, except percentages) Jun 30, 2019 Dec 31, 2018 Total remediation costs—undiscounted $ 193 $ 193 Weighted-average discount rate 5.1 % 5.1 % Total remediation costs—discounted $ 131 $ 128 Recoverable portion 86 82 |
Stated Values Outstanding | The stated values outstanding consisted of the following : (In millions) Jun 30, 2019 Dec 31, 2018 Guarantees $ 222 $ 201 Letters of credit 2,260 2,503 Surety bonds 74 166 |
Redeemable Noncontrolling Int_2
Redeemable Noncontrolling Interests (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Noncontrolling Interest [Line Items] | |
Redeemable Noncontrolling Interests Rollforward | A rollforward of redeemable noncontrolling interests was as follows: (In millions) Forcepoint RGNext Total Balance at March 31, 2019 $ 399 $ 33 $ 432 Net income (loss) (5 ) 1 (4 ) Other comprehensive income (loss), net of tax (1) — — — Adjustment of noncontrolling interests to redemption value 7 — 7 Balance at June 30, 2019 $ 401 $ 34 $ 435 Balance at December 31, 2018 $ 411 $ — $ 411 RGNext initial recognition — 32 32 Net income (loss) (12 ) 2 (10 ) Other comprehensive income (loss), net of tax (1) — — — Adjustment of noncontrolling interests to redemption value 2 — 2 Balance at June 30, 2019 $ 401 $ 34 $ 435 Balance at April 1, 2018 $ 492 $ — $ 492 Net income (loss) (9 ) — (9 ) Other comprehensive income (loss), net of tax (1 ) — (1 ) Adjustment of noncontrolling interests to redemption value 30 — 30 Balance at July 1, 2018 $ 512 $ — $ 512 Balance at December 31, 2017 $ 512 $ — $ 512 Net income (loss) (19 ) — (19 ) Other comprehensive income (loss), net of tax (1) — — — Adjustment of noncontrolling interests to redemption value 19 — 19 Balance at July 1, 2018 $ 512 $ — $ 512 (1) Other comprehensive income (loss), net of tax, related to Forcepoint was a loss of less than $1 million and income of less than $1 million for the second quarter and first six months of 2019 , respectively, and a loss of less than $1 million for the first six months of 2018 . |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Changes in Shares of Common Stock Outstanding | The changes in shares of our common stock outstanding were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Beginning balance 280.1 287.2 282.1 288.4 Stock plans activity — — 1.1 1.0 Share repurchases (1.7 ) (2.0 ) (4.8 ) (4.2 ) Ending balance 278.4 285.2 278.4 285.2 |
Repurchases of Common Stock | Our share repurchases were as follows: Three Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 $ Shares $ Shares Shares repurchased under our share repurchase programs $ 300 1.7 $ 400 1.9 Shares repurchased to satisfy tax withholding obligations — — 19 0.1 Total share repurchases $ 300 1.7 $ 419 2.0 Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 $ Shares $ Shares Shares repurchased under our share repurchase programs $ 800 4.4 $ 800 3.8 Shares repurchased to satisfy tax withholding obligations 66 0.4 91 0.4 Total share repurchases $ 866 4.8 $ 891 4.2 |
Schedule of Accumulated Other Comprehensive Income (Loss) | A rollforward of accumulated other comprehensive income (loss) was as follows: Pension and PRB plans, net (1) Foreign exchange translation Cash flow hedges (2) Unrealized gains (losses) on investments and other, net (3) Total (In millions) Balance at December 31, 2018 $ (8,483 ) $ (131 ) $ (2 ) $ (2 ) $ (8,618 ) Before tax amount 553 2 (2 ) — 553 Tax (expense) or benefit (116 ) — (1 ) — (117 ) Net of tax amount 437 2 (3 ) — 436 Balance at June 30, 2019 $ (8,046 ) $ (129 ) $ (5 ) $ (2 ) $ (8,182 ) Balance at December 31, 2017 $ (7,843 ) $ (95 ) $ 6 $ (3 ) $ (7,935 ) Before tax amount 696 (19 ) (10 ) — 667 Tax (expense) or benefit (146 ) — 2 — (144 ) Net of tax amount 550 (19 ) (8 ) — 523 Reclassification of stranded tax effects (1,452 ) — 1 — (1,451 ) Balance at July 1, 2018 $ (8,745 ) $ (114 ) $ (1 ) $ (3 ) $ (8,863 ) (1) Pension and PRB plans, net is shown net of cumulative tax benefits of $2,139 million and $2,255 million at June 30, 2019 and December 31, 2018 , respectively. (2) Cash flow hedges are shown net of cumulative tax benefits of zero and $1 million at June 30, 2019 and December 31, 2018 , respectively. (3) Unrealized gains (losses) on investments and other, net are shown net of cumulative tax expense of $1 million at June 30, 2019 and December 31, 2018 . |
Pension and Other Employee Be_2
Pension and Other Employee Benefits (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table [Line Items] | |
Marketable Securities | The fair value of marketable securities held in trust, which are considered Level 1 assets under the fair value hierarchy, consisted of the following : (In millions) Jun 30, 2019 Dec 31, 2018 Marketable securities held in trust $ 686 $ 642 |
Schedule of Pension and PRB Liabilities | Long-term pension and PRB liabilities consisted of the following: (In millions) Jun 30, 2019 Dec 31, 2018 Long-term pension liabilities $ 5,922 $ 6,111 Long-term PRB liabilities 352 354 Total long-term pension and PRB liabilities $ 6,274 $ 6,465 |
Schedule of Pension and PRB Contributions | We made the following contributions to our pension and PRB plans: Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Required pension contributions $ 196 $ 488 PRB contributions 11 9 Total $ 207 $ 497 |
Pension Plan [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table [Line Items] | |
Components of Net Periodic Pension Expense | The components of net periodic pension expense (income) were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Operating expense Service cost $ 104 $ 128 $ 209 $ 255 Non-operating expense Interest cost 261 252 522 505 Expected return on plan assets (360 ) (363 ) (719 ) (726 ) Amortization of prior service cost 2 2 3 3 Amortization of net actuarial loss 273 344 546 688 Total pension non-service expense 176 235 352 470 Net periodic pension expense (income) $ 280 $ 363 $ 561 $ 725 |
Business Segment Reporting (Tab
Business Segment Reporting (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Operating Performance | Segment financial results were as follows: Three Months Ended Six Months Ended Total Net Sales (in millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Integrated Defense Systems $ 1,641 $ 1,514 $ 3,191 $ 3,003 Intelligence, Information and Services 1,777 1,687 3,554 3,269 Missile Systems 2,210 2,051 4,216 3,899 Space and Airborne Systems 1,817 1,605 3,470 3,173 Forcepoint 156 148 314 289 Eliminations (442 ) (376 ) (856 ) (733 ) Total business segment sales 7,159 6,629 13,889 12,900 Acquisition Accounting Adjustments — (4 ) (1 ) (8 ) Total $ 7,159 $ 6,625 $ 13,888 $ 12,892 Three Months Ended Six Months Ended Intersegment Sales (in millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Integrated Defense Systems $ 22 $ 15 $ 43 $ 30 Intelligence, Information and Services 183 167 351 329 Missile Systems 58 42 101 77 Space and Airborne Systems 173 148 346 287 Forcepoint 6 4 15 10 Total $ 442 $ 376 $ 856 $ 733 Three Months Ended Six Months Ended Operating Income (in millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Integrated Defense Systems $ 264 $ 262 $ 522 $ 535 Intelligence, Information and Services 161 128 348 245 Missile Systems 253 231 443 443 Space and Airborne Systems 229 206 441 399 Forcepoint (3 ) (8 ) (12 ) (15 ) Eliminations (46 ) (41 ) (93 ) (81 ) Total business segment operating income 858 778 1,649 1,526 Acquisition Accounting Adjustments (27 ) (34 ) (55 ) (67 ) FAS/CAS Operating Adjustment 363 353 729 707 Corporate (18 ) 3 (34 ) (25 ) Total $ 1,176 $ 1,100 $ 2,289 $ 2,141 Three Months Ended Six Months Ended Intersegment Operating Income (in millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 Integrated Defense Systems $ 2 $ 1 $ 4 $ 3 Intelligence, Information and Services 18 17 35 34 Missile Systems 5 4 9 7 Space and Airborne Systems 17 15 34 29 Forcepoint 4 4 11 8 Total $ 46 $ 41 $ 93 $ 81 |
Components of FASCAS Operating Adjustment | The pension and PRB components of the FAS/CAS Operating Adjustment were as follows: Three Months Ended Six Months Ended (In millions) Jun 30, 2019 Jul 1, 2018 Jun 30, 2019 Jul 1, 2018 FAS/CAS Pension Operating Adjustment $ 361 $ 350 $ 723 $ 701 FAS/CAS PRB Operating Adjustment 2 3 6 6 FAS/CAS Operating Adjustment $ 363 $ 353 $ 729 $ 707 |
Total Assets | Total assets for each of our business segments were as follows: Total Assets (in millions) Jun 30, 2019 Dec 31, 2018 (2) Integrated Defense Systems (1) $ 4,965 $ 4,826 Intelligence, Information and Services (1) 4,372 4,238 Missile Systems (1) 8,769 8,229 Space and Airborne Systems (1) 6,897 6,740 Forcepoint (1) 2,422 2,529 Corporate 4,761 6,108 Total $ 32,186 $ 32,670 (1) Total assets includes intangible assets. Related amortization expense is included in Acquisition Accounting Adjustments. (2) Amounts have been recast to reflect the adoption of ASU 2016-02, Leases (Topic 842) . Operating lease right-of-use assets are all recorded at Corporate. |
Disaggregation of Revenue | We disaggregate our revenue from contracts with customers by geographic location, customer-type and contract-type for each of our segments, as we believe it best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. See details in the tables below. Three Months Ended June 30, 2019 Disaggregation of Total Net Sales (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Other Total United States Sales to the U.S. government (1) Fixed-price contracts $ 206 $ 224 $ 715 $ 632 $ 40 $ — $ 1,817 Cost-type contracts 466 1,132 794 713 4 — 3,109 Direct commercial sales and other U.S. sales Fixed-price contracts 1 31 8 32 45 — 117 Cost-type contracts — 5 — — — — 5 Asia/Pacific Foreign military sales through the U.S. government Fixed-price contracts 45 61 128 36 — — 270 Cost-type contracts 16 9 7 8 — — 40 Direct commercial sales and other foreign sales (1) Fixed-price contracts 187 48 49 58 16 — 358 Cost-type contracts 19 — 1 — — — 20 Middle East and North Africa Foreign military sales through the U.S. government Fixed-price contracts 171 6 191 83 — — 451 Cost-type contracts 52 5 4 22 — — 83 Direct commercial sales and other foreign sales (1) Fixed-price contracts 262 9 150 1 8 — 430 Cost-type contracts — — 18 — — — 18 All other (principally Europe) Foreign military sales through the U.S. government Fixed-price contracts 132 — 37 20 — — 189 Cost-type contracts 12 — 10 2 — — 24 Direct commercial sales and other foreign sales (1) Fixed-price contracts 47 53 40 37 37 — 214 Cost-type contracts 3 11 — — — — 14 Total net sales 1,619 1,594 2,152 1,644 150 — 7,159 Intersegment sales 22 183 58 173 6 (442 ) — Acquisition Accounting Adjustments — — — — — — — Reconciliation to business segment sales $ 1,641 $ 1,777 $ 2,210 $ 1,817 $ 156 $ (442 ) $ 7,159 (1) Excludes foreign military sales through the U.S. government. Three Months Ended June 30, 2019 Total Net Sales by Geographic Area (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total United States $ 673 $ 1,392 $ 1,517 $ 1,377 $ 89 $ 5,048 Asia/Pacific 267 118 185 102 16 688 Middle East and North Africa 485 20 363 106 8 982 All other (principally Europe) 194 64 87 59 37 441 Total net sales $ 1,619 $ 1,594 $ 2,152 $ 1,644 $ 150 $ 7,159 Three Months Ended June 30, 2019 Total Net Sales by Major Customer (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Sales to the U.S. government (1) $ 672 $ 1,356 $ 1,509 $ 1,345 $ 44 $ 4,926 U.S. direct commercial sales and other U.S. sales 1 36 8 32 45 122 Foreign military sales through the U.S. government 428 81 377 171 — 1,057 Foreign direct commercial sales and other foreign sales (1) 518 121 258 96 61 1,054 Total net sales $ 1,619 $ 1,594 $ 2,152 $ 1,644 $ 150 $ 7,159 (1) Excludes foreign military sales through the U.S. government. Three Months Ended June 30, 2019 Total Net Sales by Contract-Type (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Fixed-price contracts $ 1,051 $ 432 $ 1,318 $ 899 $ 146 $ 3,846 Cost-type contracts 568 1,162 834 745 4 3,313 Total net sales $ 1,619 $ 1,594 $ 2,152 $ 1,644 $ 150 $ 7,159 Three Months Ended July 1, 2018 Disaggregation of Total Net Sales (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Other Total United States Sales to the U.S. government (1) Fixed-price contracts $ 198 $ 250 $ 651 $ 525 $ 21 $ — $ 1,645 Cost-type contracts 411 1,043 685 642 4 — 2,785 Direct commercial sales and other U.S. sales Fixed-price contracts 2 29 10 31 51 — 123 Cost-type contracts — 6 1 1 — — 8 Asia/Pacific Foreign military sales through the U.S. government Fixed-price contracts 50 51 113 37 — — 251 Cost-type contracts 22 11 21 5 — — 59 Direct commercial sales and other foreign sales (1) Fixed-price contracts 191 53 44 51 17 — 356 Cost-type contracts 42 — — — — — 42 Middle East and North Africa Foreign military sales through the U.S. government Fixed-price contracts 243 6 126 64 — — 439 Cost-type contracts 38 1 7 17 — — 63 Direct commercial sales and other foreign sales (1) Fixed-price contracts 227 4 240 35 8 — 514 Cost-type contracts — — — — — — — All other (principally Europe) Foreign military sales through the U.S. government Fixed-price contracts 28 — 32 12 — — 72 Cost-type contracts 7 — 20 1 — — 28 Direct commercial sales and other foreign sales (1) Fixed-price contracts 37 58 58 36 39 — 228 Cost-type contracts 3 8 1 — — — 12 Total net sales 1,499 1,520 2,009 1,457 140 — 6,625 Intersegment sales 15 167 42 148 4 (376 ) — Acquisition Accounting Adjustments — — — — 4 (4 ) — Reconciliation to business segment sales $ 1,514 $ 1,687 $ 2,051 $ 1,605 $ 148 $ (380 ) $ 6,625 (1) Excludes foreign military sales through the U.S. government. Three Months Ended July 1, 2018 Total Net Sales by Geographic Area (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total United States $ 611 $ 1,328 $ 1,347 $ 1,199 $ 76 $ 4,561 Asia/Pacific 305 115 178 93 17 708 Middle East and North Africa 508 11 373 116 8 1,016 All other (principally Europe) 75 66 111 49 39 340 Total net sales $ 1,499 $ 1,520 $ 2,009 $ 1,457 $ 140 $ 6,625 Three Months Ended July 1, 2018 Total Net Sales by Major Customer (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Sales to the U.S. government (1) $ 609 $ 1,293 $ 1,336 $ 1,167 $ 25 $ 4,430 U.S. direct commercial sales and other U.S. sales 2 35 11 32 51 131 Foreign military sales through the U.S. government 388 69 319 136 — 912 Foreign direct commercial sales and other foreign sales (1) 500 123 343 122 64 1,152 Total net sales $ 1,499 $ 1,520 $ 2,009 $ 1,457 $ 140 $ 6,625 (1) Excludes foreign military sales through the U.S. government. Three Months Ended July 1, 2018 Total Net Sales by Contract-Type (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Fixed-price contracts $ 976 $ 451 $ 1,274 $ 791 $ 136 $ 3,628 Cost-type contracts 523 1,069 735 666 4 2,997 Total net sales $ 1,499 $ 1,520 $ 2,009 $ 1,457 $ 140 $ 6,625 Six Months Ended June 30, 2019 Disaggregation of Total Net Sales (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Other Total United States Sales to the U.S. government (1) Fixed-price contracts $ 427 $ 449 $ 1,423 $ 1,181 $ 76 $ — $ 3,556 Cost-type contracts 891 2,283 1,492 1,372 8 — 6,046 Direct commercial sales and other U.S. sales Fixed-price contracts 2 64 16 58 89 — 229 Cost-type contracts — 9 — 1 1 — 11 Asia/Pacific Foreign military sales through the U.S. government Fixed-price contracts 85 134 251 68 — — 538 Cost-type contracts 34 20 23 16 — — 93 Direct commercial sales and other foreign sales (1) Fixed-price contracts 355 89 81 106 32 — 663 Cost-type contracts 36 — 1 — — — 37 Middle East and North Africa Foreign military sales through the U.S. government Fixed-price contracts 439 9 307 157 — — 912 Cost-type contracts 100 10 9 42 — — 161 Direct commercial sales and other foreign sales (1) Fixed-price contracts 458 16 295 19 16 — 804 Cost-type contracts — — 37 — — — 37 All other (principally Europe) Foreign military sales through the U.S. government Fixed-price contracts 212 1 71 36 — — 320 Cost-type contracts 23 — 26 2 — — 51 Direct commercial sales and other foreign sales (1) Fixed-price contracts 81 102 82 66 76 — 407 Cost-type contracts 5 17 1 — — — 23 Total net sales 3,148 3,203 4,115 3,124 298 — 13,888 Intersegment sales 43 351 101 346 15 (856 ) — Acquisition Accounting Adjustments — — — — 1 (1 ) — Reconciliation to business segment sales $ 3,191 $ 3,554 $ 4,216 $ 3,470 $ 314 $ (857 ) $ 13,888 (1) Excludes foreign military sales through the U.S. government. Six Months Ended June 30, 2019 Total Net Sales by Geographic Area (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total United States $ 1,320 $ 2,805 $ 2,931 $ 2,612 $ 174 $ 9,842 Asia/Pacific 510 243 356 190 32 1,331 Middle East and North Africa 997 35 648 218 16 1,914 All other (principally Europe) 321 120 180 104 76 801 Total net sales $ 3,148 $ 3,203 $ 4,115 $ 3,124 $ 298 $ 13,888 Six Months Ended June 30, 2019 Total Net Sales by Major Customer (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Sales to the U.S. government (1) $ 1,318 $ 2,732 $ 2,915 $ 2,553 $ 84 $ 9,602 U.S. direct commercial sales and other U.S. sales 2 73 16 59 90 240 Foreign military sales through the U.S. government 893 174 687 321 — 2,075 Foreign direct commercial sales and other foreign sales (1) 935 224 497 191 124 1,971 Total net sales $ 3,148 $ 3,203 $ 4,115 $ 3,124 $ 298 $ 13,888 (1) Excludes foreign military sales through the U.S. government. Six Months Ended June 30, 2019 Total Net Sales by Contract-Type (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Fixed-price contracts $ 2,059 $ 864 $ 2,526 $ 1,691 $ 289 $ 7,429 Cost-type contracts 1,089 2,339 1,589 1,433 9 6,459 Total net sales $ 3,148 $ 3,203 $ 4,115 $ 3,124 $ 298 $ 13,888 Six Months Ended July 1, 2018 Disaggregation of Total Net Sales (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Other Total United States Sales to the U.S. government (1) Fixed-price contracts $ 425 $ 502 $ 1,234 $ 1,070 $ 42 $ — $ 3,273 Cost-type contracts 813 1,999 1,313 1,286 7 — 5,418 Direct commercial sales and other U.S. sales Fixed-price contracts 4 56 23 57 100 — 240 Cost-type contracts 1 9 — 1 — — 11 Asia/Pacific Foreign military sales through the U.S. government Fixed-price contracts 80 102 209 66 — — 457 Cost-type contracts 47 25 39 6 — — 117 Direct commercial sales and other foreign sales (1) Fixed-price contracts 337 97 87 101 32 — 654 Cost-type contracts 69 — 1 — — — 70 Middle East and North Africa Foreign military sales through the U.S. government Fixed-price contracts 438 10 206 118 — — 772 Cost-type contracts 70 1 14 32 — — 117 Direct commercial sales and other foreign sales (1) Fixed-price contracts 574 9 470 56 15 — 1,124 Cost-type contracts — — — — — — — All other (principally Europe) Foreign military sales through the U.S. government Fixed-price contracts 25 — 58 22 — — 105 Cost-type contracts 15 — 44 2 — — 61 Direct commercial sales and other foreign sales (1) Fixed-price contracts 70 110 123 69 75 — 447 Cost-type contracts 5 20 1 — — — 26 Total net sales 2,973 2,940 3,822 2,886 271 — 12,892 Intersegment sales 30 329 77 287 10 (733 ) — Acquisition Accounting Adjustments — — — — 8 (8 ) — Reconciliation to business segment sales $ 3,003 $ 3,269 $ 3,899 $ 3,173 $ 289 $ (741 ) $ 12,892 (1) Excludes foreign military sales through the U.S. government. Six Months Ended July 1, 2018 Total Net Sales by Geographic Area (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total United States $ 1,243 $ 2,566 $ 2,570 $ 2,414 $ 149 $ 8,942 Asia/Pacific 533 224 336 173 32 1,298 Middle East and North Africa 1,082 20 690 206 15 2,013 All other (principally Europe) 115 130 226 93 75 639 Total net sales $ 2,973 $ 2,940 $ 3,822 $ 2,886 $ 271 $ 12,892 Six Months Ended July 1, 2018 Total Net Sales by Major Customer (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Sales to the U.S. government (1) $ 1,238 $ 2,501 $ 2,547 $ 2,356 $ 49 $ 8,691 U.S. direct commercial sales and other U.S. sales 5 65 23 58 100 251 Foreign military sales through the U.S. government 675 138 570 246 — 1,629 Foreign direct commercial sales and other foreign sales (1) 1,055 236 682 226 122 2,321 Total net sales $ 2,973 $ 2,940 $ 3,822 $ 2,886 $ 271 $ 12,892 (1) Excludes foreign military sales through the U.S. government. Six Months Ended July 1, 2018 Total Net Sales by Contract-Type (in millions) Integrated Defense Systems Intelligence, Information and Services Missile Systems Space and Airborne Systems Forcepoint Total Fixed-price contracts $ 1,953 $ 886 $ 2,410 $ 1,559 $ 264 $ 7,072 Cost-type contracts 1,020 2,054 1,412 1,327 7 5,820 Total net sales $ 2,973 $ 2,940 $ 3,822 $ 2,886 $ 271 $ 12,892 |
Proposed Merger with United T_2
Proposed Merger with United Technologies Corporation (UTC) (Narrative) (Details) $ in Millions | Jun. 30, 2019USD ($)shares |
Business Combinations [Abstract] | |
Agreed Upon Number Shares of Common Stock of UTC which each share of Raytheon Common Stock will be Converted Into | shares | 2.3348 |
Estimated percent of UTC's outstanding shares of common stock to be held by Raytheon stockholders | 43.00% |
Estimated percent of UTC's outstanding shares of common stock to be held by UTC stockholders | 57.00% |
Percent of the common stock of the entity holding the Otis business to be distributed to UTC stockholders after the separation | 100.00% |
Percent of the common stock of the entity holding the Carrier business to be distributed to UTC stockholders after the separation | 100.00% |
Maximum allowed incurrence or issuance of new debt under the Merger Agreement | $ 1,000 |
Maximum allowed acquisitions or divestitures in aggregate under the Merger Agreement | 500 |
Termination fee payable to UTC by Raytheon under specified circumstances | 1,785 |
Termination fee payable to Raytheon by UTC under specified circumstances | $ 2,365 |
Accounting Standards (Narrative
Accounting Standards (Narrative) (Details) - ASU 2016-02 [Member] $ in Millions | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Assets, Total [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 805 |
Liabilities, Total [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | (841) |
Other Current Liabilities [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ (194) |
Changes in Estimates under Pe_3
Changes in Estimates under Percentage of Completion Contract Accounting (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Accounting Policies [Abstract] | ||||
Performance Obligation Satisfied in Previous Period | $ 171 | $ 162 | $ 329 | $ 300 |
Changes in Estimates under Pe_4
Changes in Estimates under Percentage of Completion Contract Accounting (Net EAC adjustments) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Change in Accounting Estimate [Line Items] | ||||
Operating income | $ 1,176 | $ 1,100 | $ 2,289 | $ 2,141 |
Income from continuing operations attributable to Raytheon Company | $ 817 | $ 799 | $ 1,598 | $ 1,433 |
Diluted earnings per share (EPS) from continuing operations attributable to Raytheon Company | $ 2.92 | $ 2.78 | $ 5.69 | $ 4.98 |
Contracts Accounted for under Percentage of Completion [Member] | ||||
Change in Accounting Estimate [Line Items] | ||||
Operating income | $ 123 | $ 129 | $ 246 | $ 244 |
Income from continuing operations attributable to Raytheon Company | $ 97 | $ 102 | $ 194 | $ 193 |
Diluted earnings per share (EPS) from continuing operations attributable to Raytheon Company | $ 0.35 | $ 0.35 | $ 0.69 | $ 0.67 |
Earnings per Share (EPS) (Narra
Earnings per Share (EPS) (Narrative) (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Earnings Per Share | ||||
Favorable (unfavorable) impact to EPS, Basic | $ 2.92 | $ 2.78 | $ 5.69 | $ 4.98 |
Favorable (unfavorable) impact to EPS, Diluted | 2.92 | 2.78 | 5.69 | 4.97 |
Redemption Value Adjustment in Excess of Fair Value [Member] | ||||
Earnings Per Share | ||||
Favorable (unfavorable) impact to EPS, Basic | 0 | 0 | 0 | 0 |
Favorable (unfavorable) impact to EPS, Diluted | $ 0 | $ 0 | $ 0 | $ 0 |
Earnings per Share (EPS) (EPS f
Earnings per Share (EPS) (EPS from Continuing Operations) (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Basic EPS attributable to Raytheon Company common stockholders: | ||||
Distributed earnings | $ 0.94 | $ 0.86 | $ 1.88 | $ 1.73 |
Undistributed earnings | 1.98 | 1.92 | 3.81 | 3.25 |
Total | 2.92 | 2.78 | 5.69 | 4.98 |
Diluted EPS attributable to Raytheon Company common stockholders: | ||||
Distributed earnings | 0.94 | 0.86 | 1.88 | 1.73 |
Undistributed earnings | 1.98 | 1.92 | 3.81 | 3.25 |
Total | $ 2.92 | $ 2.78 | $ 5.69 | $ 4.98 |
Earnings per Share (EPS) (Incom
Earnings per Share (EPS) (Income from participating securities) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Earnings Per Share | ||||
Net income (loss) attributable to participating securities | $ 8 | $ 8 | $ 16 | $ 15 |
Continuing Operations [Member] | ||||
Earnings Per Share | ||||
Net income (loss) attributable to participating securities | 8 | 8 | 16 | 15 |
Discontinued Operations [Member] | ||||
Earnings Per Share | ||||
Net income (loss) attributable to participating securities | $ 0 | $ 0 | $ 0 | $ 0 |
Earnings per Share (EPS) (Weigh
Earnings per Share (EPS) (Weighted-Average Shares) (Details) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Earnings Per Share [Abstract] | ||||
Shares for basic EPS(1) | 279.7 | 287.3 | 280.8 | 287.9 |
Effect of dilutive securities | 0.2 | 0.3 | 0.2 | 0.3 |
Shares for diluted EPS | 279.9 | 287.6 | 281 | 288.2 |
Shares for basic EPS, Participating Securities | 2.7 | 2.9 | 2.7 | 3 |
Inventories (Narrative) (Detail
Inventories (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Deferred precontract costs, work in process inventories | $ 298 | $ 163 |
Inventories (Schedule of Invent
Inventories (Schedule of Inventories) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Materials and purchased parts | $ 76 | $ 75 |
Work in process | 834 | 662 |
Finished goods | 22 | 21 |
Total | $ 932 | $ 758 |
Contract Assets and Contract _3
Contract Assets and Contract Liabilities (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Contract with Customer, Asset and Liability [Abstract] | ||||
Change in net contract assets (liabilities) | $ 912 | |||
Change in contract assets | 536 | |||
Total contract value related to precision guided munitions to certain Middle Eastern customers with U.S. government approval | $ 1,200 | 1,200 | ||
Sales recognized for work performed to date related to precision guided munitions to certain Middle Eastern customers with U.S. government approval | 950 | 950 | ||
Advances received to date on contracts related to precision guided munitions to certain Middle Eastern customers with U.S. government approval | 350 | 350 | ||
Net contract assets related to precision guided munitions to certain Middle Eastern customers with U.S. government approval | 600 | 600 | ||
Total contract value related to precision guided munitions to certain Middle Eastern customers pending U.S. government approval | 1,100 | 1,100 | ||
Sales recognized for work performed to date related to precision guided munitions to certain Middle Eastern customers pending U.S. government approval | 300 | 300 | ||
Advances received to date on contracts related to precision guided munitions to certain Middle Eastern customers pending U.S. government approval | 500 | 500 | ||
Net contract assets related to precision guided munitions to certain Middle Eastern customers pending U.S. government approval | 100 | 100 | ||
Net contract liabilities related to precision guided munitions to certain Middle Eastern customers pending U.S. government approval | 300 | 300 | ||
Revenue recognized on contract liabilities | $ 496 | $ 311 | $ 1,390 | $ 963 |
Contract Assets and Liabilities
Contract Assets and Liabilities (Net Contract Assets (Liabilities)) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Contract with Customer, Asset and Liability [Abstract] | ||
Contract assets | $ 6,130 | $ 5,594 |
Change in contract assets | $ 536 | |
Percent change in contract assets | 10.00% | |
Contract liabilities—current | $ (2,944) | (3,309) |
Change in contract liabilities, current | $ 365 | |
Percent change in contract liabilities, current | 11.00% | |
Contract liabilities—noncurrent | $ (139) | (150) |
Change in contract liabilities, noncurrent | $ 11 | |
Percent change in contract liabilities, noncurrent | 7.00% | |
Net contract assets (liabilities) | $ 3,047 | $ 2,135 |
Change in net contract assets (liabilities) | $ 912 | |
Percent change in net contract assets (liabilities) | 43.00% |
Deferred Commissions (Narrative
Deferred Commissions (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | Dec. 31, 2018 | |
Deferred Costs [Abstract] | |||||
Deferred Commission | $ 50 | $ 50 | $ 55 | ||
Amortization of Deferred Commissions | $ 9 | $ 7 | $ 13 | $ 15 |
Acquisitions, Divestitures an_3
Acquisitions, Divestitures and Goodwill (Narrative) (Details) $ in Millions | 6 Months Ended | |
Jun. 30, 2019USD ($) | Dec. 31, 2013 | |
Business Acquisition [Line Items] | ||
Number of Business Divestitures | 0 | |
Goodwill acquired during the period | $ 19 | |
RGNext [Member] | ||
Business Acquisition [Line Items] | ||
Noncontrolling Interest, Raytheon Ownership Percentage | 60.00% | 50.00% |
Noncontrolling Interest, Ownership Percentage Acquired by Raytheon | 10.00% | |
Remeasurement gain | $ 21 | |
Redeemable Noncontrolling Interest, Equity, Fair Value | 32 | |
Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 90 | |
Goodwill acquired during the period | 19 | |
Finite-lived Intangible Assets Acquired | $ 34 | |
Finite-lived Intangible Assets Acquired, Weighted Average Useful Life | 7 years |
Acquisitions, Divestitures an_4
Acquisitions, Divestitures and Goodwill (Rollforward of Goodwill by Segments) (Details) | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Goodwill [Roll Forward] | |
Beginning balance | $ 14,864,000,000 |
Acquisitions | 19,000,000 |
Effect of foreign exchange rates and other | (1,000,000) |
Ending balance | 14,882,000,000 |
Forcepoint estimated fair value in excess of book value | 900,000,000 |
Integrated Defense Systems | |
Goodwill [Roll Forward] | |
Beginning balance | 1,704,000,000 |
Acquisitions | 0 |
Effect of foreign exchange rates and other | (1,000,000) |
Ending balance | 1,703,000,000 |
Intelligence, Information and Services | |
Goodwill [Roll Forward] | |
Beginning balance | 2,965,000,000 |
Acquisitions | 19,000,000 |
Effect of foreign exchange rates and other | 0 |
Ending balance | 2,984,000,000 |
Missile Systems | |
Goodwill [Roll Forward] | |
Beginning balance | 4,154,000,000 |
Acquisitions | 0 |
Effect of foreign exchange rates and other | 0 |
Ending balance | 4,154,000,000 |
Space and Airborne Systems | |
Goodwill [Roll Forward] | |
Beginning balance | 4,103,000,000 |
Acquisitions | 0 |
Effect of foreign exchange rates and other | 0 |
Ending balance | 4,103,000,000 |
Forcepoint | |
Goodwill [Roll Forward] | |
Beginning balance | 1,938,000,000 |
Acquisitions | 0 |
Effect of foreign exchange rates and other | 0 |
Ending balance | $ 1,938,000,000 |
Derivative and Other Financia_3
Derivative and Other Financial Instruments (Narrative) (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Derivative and Other Financial Instruments | ||
Commercial paper | $ 300,000,000 | $ 300,000,000 |
Commercial paper, weighted-average interest rate | 2.502% | 2.954% |
Commercial paper, weighted-average original maturity period | 12 days | 16 days |
Commercial paper, maximum original maturity period | 90 days | |
Restricted Cash and Cash Equivalents | $ 13,000,000 | $ 16,000,000 |
Maximum [Member] | ||
Derivative and Other Financial Instruments | ||
Foreign currency forward contracts, off-set or netting provisions, fair value of counterparty default exposure | 1,000,000 | 1,000,000 |
Foreign Exchange Forward [Member] | ||
Derivative and Other Financial Instruments | ||
Notional amount | 1,737,000,000 | 1,772,000,000 |
Foreign Currency Forward Contracts Net Notional Exposure | 757,000,000 | 840,000,000 |
Treasury Lock [Member] | ||
Derivative and Other Financial Instruments | ||
Notional amount | $ 375,000,000 | $ 0 |
Derivative and Other Financia_4
Derivative and Other Financial Instruments (Schedule of Derivative Assets and Liabilities) (Details) - Fair Value, Inputs, Level 2 [Member] - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Derivatives, Fair Value [Line Items] | ||
Asset derivatives related to foreign currency forward contracts | $ 26,000,000 | $ 26,000,000 |
Liability derivatives related to foreign currency forward contracts | 30,000,000 | 34,000,000 |
Liability derivatives related to treasury rate lock contracts | $ 7,000,000 | $ 0 |
Derivative and Other Financia_5
Derivative and Other Financial Instruments (Schedule of Long Term Debt Details) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Debt Instrument [Line Items] | ||
Carrying value of long-term debt(1) | $ 4,757 | $ 4,755 |
Fair value of long-term debt(2) | 5,256 | $ 5,063 |
Carrying value of long-term debt, current | 500 | |
Commercial paper and current portion of long-term debt [Member] | ||
Debt Instrument [Line Items] | ||
Fair value of long-term debt(2) | $ 507 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
Finance Lease, Liability | $ 0 | $ 0 |
Percent of future lease commitments related to real estate leases | 90.00% | |
Operating Lease, Weighted Average Remaining Lease Term | 8 years | 7 years |
Operating Lease, Weighted Average Discount Rate, Percent | 3.10% | 3.10% |
Leases (Components of lease exp
Leases (Components of lease expense) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Lessee, Lease, Description [Line Items] | ||||
Operating lease cost | $ 60 | $ 58 | $ 113 | $ 116 |
Variable lease cost(1) | 0 | 0 | 0 | 0 |
Sublease income | (1) | (2) | (1) | (2) |
Total lease cost | 59 | 56 | 112 | 114 |
Maximum [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Variable lease cost(1) | $ 1 | $ 1 | $ 1 | $ 1 |
Leases (Future lease payments)
Leases (Future lease payments) (Details) $ in Millions | Jun. 30, 2019USD ($) |
Leases [Abstract] | |
2019 (excluding the six months ended June 30, 2019) | $ 118 |
2020 | 212 |
2021 | 190 |
2022 | 145 |
2023 | 103 |
Thereafter | 286 |
Total future lease payments(1) | 1,054 |
Imputed interest | (127) |
Total lease liabilities | 927 |
Lessee, Operating Lease, Lease Not Yet Commenced, Amount | $ 20 |
Leases (Operating lease liabili
Leases (Operating lease liabilities recognized on balance sheet) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
Operating lease liabilities—current | $ 207 | |
Operating lease liabilities—noncurrent | 720 | $ 647 |
Total lease liabilities | $ 927 |
Leases (Other information relat
Leases (Other information related to operating leases) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jul. 01, 2018 | |
Leases [Abstract] | ||
Cash paid for amounts included in the measurement of operating lease liabilities | $ 122 | $ 124 |
Right-of-use assets obtained in exchange for new operating lease obligations | $ 173 | $ 106 |
Commitments and Contingencies_2
Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Commitments and Contingencies [Line Items] | ||
Notional value of offset agreements with certain customers in foreign countries | $ 9,600 | |
Thales- Raytheon Systems Air and Missile Defense Command and Control S.A.S. (TRS AMDC2) [Member] | ||
Commitments and Contingencies [Line Items] | ||
Estimated liability related to guarantees | $ 2 | $ 3 |
Commitments and Contingencies_3
Commitments and Contingencies (Estimates of Total Remediation Costs) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Environmental Remediation Obligations [Abstract] | ||
Total remediation costs—undiscounted | $ 193 | $ 193 |
Weighted-average discount rate | 5.10% | 5.10% |
Total remediation costs—discounted | $ 131 | $ 128 |
Recoverable portion | $ 86 | $ 82 |
Commitments and Contingencies_4
Commitments and Contingencies (Stated Values Outstanding) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Commitments and Contingencies Disclosure [Abstract] | ||
Guarantees | $ 222 | $ 201 |
Letters of credit | 2,260 | 2,503 |
Surety bonds | $ 74 | $ 166 |
Redeemable Noncontrolling Int_3
Redeemable Noncontrolling Interests (Narrative) (Details) - USD ($) | 6 Months Ended | ||||||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jul. 01, 2018 | Apr. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2013 | |
Noncontrolling Interest [Line Items] | |||||||
Estimated Redemption Value | $ 435,000,000 | $ 432,000,000 | $ 411,000,000 | $ 512,000,000 | $ 492,000,000 | $ 512,000,000 | |
RGNext [Member] | |||||||
Noncontrolling Interest [Line Items] | |||||||
Estimated Redemption Value | $ 34,000,000 | 33,000,000 | 0 | 0 | 0 | 0 | |
Noncontrolling Interest, Ownership Percentage Acquired by Raytheon | 10.00% | ||||||
Noncontrolling Interest, Raytheon Ownership Percentage | 60.00% | 50.00% | |||||
Forcepoint | |||||||
Noncontrolling Interest [Line Items] | |||||||
Vista Equity Partners' Adjusted Equity Interest | 19.50% | ||||||
Estimated Redemption Value | $ 401,000,000 | $ 399,000,000 | $ 411,000,000 | $ 512,000,000 | $ 492,000,000 | $ 512,000,000 | |
Redeemable Noncontrolling Interest, Carrying Value | $ 269,000,000 |
Redeemable Noncontrolling Int_4
Redeemable Noncontrolling Interests (Redeemable Noncontrolling Interests Rollforward) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Noncontrolling Interest [Line Items] | ||||
Beginning balance | $ 432,000,000 | $ 492,000,000 | $ 411,000,000 | $ 512,000,000 |
RGNext initial recognition | 32,000,000 | |||
Net income (loss) | (4,000,000) | (9,000,000) | (10,000,000) | (19,000,000) |
Other comprehensive income (loss), net of tax(1) | 0 | (1,000,000) | 0 | 0 |
Adjustment of noncontrolling interests to redemption value | 7,000,000 | 30,000,000 | 2,000,000 | 19,000,000 |
Ending balance | 435,000,000 | 512,000,000 | 435,000,000 | 512,000,000 |
Forcepoint | ||||
Noncontrolling Interest [Line Items] | ||||
Beginning balance | 399,000,000 | 492,000,000 | 411,000,000 | 512,000,000 |
RGNext initial recognition | 0 | |||
Net income (loss) | (5,000,000) | (9,000,000) | (12,000,000) | (19,000,000) |
Other comprehensive income (loss), net of tax(1) | 0 | (1,000,000) | 0 | 0 |
Adjustment of noncontrolling interests to redemption value | 7,000,000 | 30,000,000 | 2,000,000 | 19,000,000 |
Ending balance | 401,000,000 | 512,000,000 | 401,000,000 | 512,000,000 |
Forcepoint | Maximum [Member] | ||||
Noncontrolling Interest [Line Items] | ||||
Other comprehensive income (loss), net of tax(1) | (1,000,000) | 1,000,000 | (1,000,000) | |
RGNext [Member] | ||||
Noncontrolling Interest [Line Items] | ||||
Beginning balance | 33,000,000 | 0 | 0 | 0 |
RGNext initial recognition | 32,000,000 | |||
Net income (loss) | 1,000,000 | 0 | 2,000,000 | 0 |
Other comprehensive income (loss), net of tax(1) | 0 | 0 | 0 | 0 |
Adjustment of noncontrolling interests to redemption value | 0 | 0 | 0 | 0 |
Ending balance | $ 34,000,000 | $ 0 | $ 34,000,000 | $ 0 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 36 Months Ended | |||||
Mar. 31, 2019 | Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2021 | Nov. 30, 2017 | Nov. 30, 2015 | |
Stockholders' Equity [Line Items] | ||||||||||
Stock repurchase program, outstanding common stock available | $ 700 | $ 700 | ||||||||
Increase in annual dividend payout rate | 8.60% | |||||||||
Dividends declared per share | $ 0.9425 | $ 0.8675 | $ 1.885 | $ 1.735 | $ 3.47 | |||||
Shares authorized under stock plans | 44,500 | 44,500 | ||||||||
Shares available for new awards | 7,900 | 7,900 | ||||||||
Shares outstanding | 2,900 | 2,900 | ||||||||
Amortization of net actuarial loss | $ 274 | $ 346 | $ 550 | $ 693 | ||||||
Cash Flow Hedge Loss to be Reclassified into earnings within Twelve Months | $ 2 | $ 2 | ||||||||
Forcepoint | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Shares authorized under stock plans | 174 | 174 | ||||||||
Expense (income) attributable to vesting conditions | $ (2) | $ 3 | $ (4) | 4 | ||||||
Restricted Stock [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Units granted in period | 100 | |||||||||
Weighted Average Grant Date Fair Value | $ 179.87 | |||||||||
Long-Term Performance Plan [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Units granted in period | 100 | |||||||||
Weighted Average Grant Date Fair Value | $ 175.93 | |||||||||
Forecast [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Dividends declared per share | $ 3.77 | |||||||||
Forecast [Member] | Long-Term Performance Plan [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Performance goals, return on invested capital, weighted | 50.00% | |||||||||
Performance goals, total shareholder return, weighted | 25.00% | |||||||||
Performance goals, cumulative free cash flow, weighted | 25.00% | |||||||||
Forecast [Member] | Upper Limit | Long-Term Performance Plan [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Target award | 200.00% | |||||||||
Forecast [Member] | Lower Limit | Long-Term Performance Plan [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Target award | 0.00% | |||||||||
November Two Thousand Fifteen Board of Directors Authorization [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Stock repurchase program, authorized amount | $ 2,000 | |||||||||
November Two Thousand Seventeen Board of Directors Authorization [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Stock repurchase program, authorized amount | $ 2,000 | |||||||||
Pension Plan [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Amortization of net actuarial loss | $ 546 | $ 688 | ||||||||
Raytheon Company 2019 Stock Plan [Member] | ||||||||||
Stockholders' Equity [Line Items] | ||||||||||
Shares authorized under stock plans | 2,700 | 2,700 |
Stockholders' Equity (Changes i
Stockholders' Equity (Changes in Shares of Common Stock Outstanding) (Details) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Common Stock Outstanding [Roll Forward] | ||||
Beginning balance | 280.1 | 287.2 | 282.1 | 288.4 |
Stock plans activity | 0 | 0 | 1.1 | 1 |
Share repurchases | (1.7) | (2) | (4.8) | (4.2) |
Ending balance | 278.4 | 285.2 | 278.4 | 285.2 |
Stockholders' Equity (Repurchas
Stockholders' Equity (Repurchases of Common Stock) (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Stockholders' Equity | ||||
Total shares repurchased | $ 300 | $ 419 | $ 866 | $ 891 |
Total shares repurchased | 1.7 | 2 | 4.8 | 4.2 |
Share Repurchase Program [Member] | ||||
Stockholders' Equity | ||||
Total shares repurchased | $ 300 | $ 400 | $ 800 | $ 800 |
Total shares repurchased | 1.7 | 1.9 | 4.4 | 3.8 |
Satisfy tax withholding [Member] | ||||
Stockholders' Equity | ||||
Total shares repurchased | $ 0 | $ 19 | $ 66 | $ 91 |
Total shares repurchased | 0 | 0.1 | 0.4 | 0.4 |
Stockholders' Equity (Accumulat
Stockholders' Equity (Accumulated Other Comprehensive Income) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | Dec. 31, 2018 | |
Stockholders' Equity | |||||
Accumulated Other Comprehensive Income (Loss), Pension and PRB plans, net, beginning balance | $ (8,483,000,000) | $ (7,843,000,000) | |||
Pension and PRB plans, net, Before tax amount | $ 276,000,000 | $ 348,000,000 | 553,000,000 | 696,000,000 | |
Pension and PRB plans, net, Tax (expense) or benefit | (116,000,000) | (146,000,000) | |||
Pension and PRB plans, net, Net of tax amount | 437,000,000 | 550,000,000 | |||
Pension and PRB plan, net, Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings | (1,452,000,000) | ||||
Accumulated Other Comprehensive Income (Loss), Pension and PRB plans, net, ending balance | (8,046,000,000) | (8,745,000,000) | (8,046,000,000) | (8,745,000,000) | |
Accumulated Other Comprehensive Income (Loss), Foreign exchange translation, beginning balance | (131,000,000) | (95,000,000) | |||
Foreign exchange translation, Before tax amount | (6,000,000) | (43,000,000) | 2,000,000 | (19,000,000) | |
Foreign exchange translation, Tax (expense) or benefit | 0 | 0 | |||
Foreign exchange translation, Net of tax amount | 2,000,000 | (19,000,000) | |||
Foreign exchange translation, Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings | 0 | ||||
Accumulated Other Comprehensive Income (Loss), Foreign exchange translation, ending balance | (129,000,000) | (114,000,000) | (129,000,000) | (114,000,000) | |
Accumulated Other Comprehensive Income (Loss), Cash flow hedges, beginning balance | (2,000,000) | 6,000,000 | |||
Cash flow hedges, before tax amount | 8,000,000 | 0 | (2,000,000) | (10,000,000) | |
Cash flow hedges, tax (expense) or benefit | (1,000,000) | 2,000,000 | |||
Cash flow hedges, net of tax amount | (3,000,000) | (8,000,000) | |||
Cash flow hedges, Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings | 1,000,000 | ||||
Accumulated Other Comprehensive Income (Loss), Cash flow hedges, ending balance | (5,000,000) | (1,000,000) | (5,000,000) | (1,000,000) | |
Accumulated Other Comprehensive Income (Loss), Unrealized gains (losses) on investments, and other, net, beginning balance | (2,000,000) | (3,000,000) | |||
Unrealized gains (losses) on investments and other, net, Before tax amount | 0 | 0 | 0 | 0 | |
Unrealized gains (losses) on investments and other, net, Tax (expense) or benefit | 0 | 0 | |||
Unrealized gains (losses) on investments and other, net, Net of tax amount | 0 | 0 | |||
Unrealized gains (losses) on investments and other, net, Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings | 0 | ||||
Accumulated Other Comprehensive Income (Loss), Unrealized gains (losses) on investments, and other, net, ending balance | (2,000,000) | (3,000,000) | (2,000,000) | (3,000,000) | |
Accumulated Other Comprehensive Income (Loss), Net of Tax, beginning balance | (8,618,000,000) | (7,935,000,000) | |||
Other comprehensive income (loss), before tax amount | 278,000,000 | 305,000,000 | 553,000,000 | 667,000,000 | |
Other comprehensive income (Loss), tax (expense) or benefit | (61,000,000) | (73,000,000) | (117,000,000) | (144,000,000) | |
Other comprehensive income (loss), net of tax | 217,000,000 | 232,000,000 | 436,000,000 | 523,000,000 | |
Reclassification of stranded tax effects | 0 | 0 | 0 | (1,451,000,000) | |
Accumulated Other Comprehensive Income (Loss), Net of Tax, ending balance | (8,182,000,000) | $ (8,863,000,000) | (8,182,000,000) | $ (8,863,000,000) | |
Pension and PRB plans cumulative tax benefit (expense) | 2,139,000,000 | 2,139,000,000 | $ 2,255,000,000 | ||
Cash flow hedges cumulative tax benefit (expense) | 0 | 0 | 1,000,000 | ||
Unrealized gains (losses) on investments and other, net cumulative tax benefit (expense) | $ (1,000,000) | $ (1,000,000) | $ (1,000,000) |
Pension and Other Employee Be_3
Pension and Other Employee Benefits (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Sep. 30, 2018 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | Dec. 31, 2018 | |
Pension and Other Postretirement Benefit [Line Items] | ||||||
Discretionary pension contributions | $ 1,250,000,000 | $ 0 | $ 0 | |||
Fair Value, Inputs, Level 1 [Member] | ||||||
Pension and Other Postretirement Benefit [Line Items] | ||||||
Marketable securities held in trust | $ 686,000,000 | 686,000,000 | $ 642,000,000 | |||
Foreign Plan [Member] | ||||||
Pension and Other Postretirement Benefit [Line Items] | ||||||
Net periodic pension expense (income) | (1,000,000) | $ (2,000,000) | (2,000,000) | (4,000,000) | ||
Nonqualified Plan, Defined Contribution [Member] | ||||||
Pension and Other Postretirement Benefit [Line Items] | ||||||
Liabilities related to nonqualified defined contribution plan | 438,000,000 | 438,000,000 | 431,000,000 | |||
Nonqualified Plan, Defined Contribution [Member] | Fair Value, Inputs, Level 1 [Member] | ||||||
Pension and Other Postretirement Benefit [Line Items] | ||||||
Marketable securities held in trust | 429,000,000 | 429,000,000 | $ 420,000,000 | |||
PRB Plan [Member] | ||||||
Pension and Other Postretirement Benefit [Line Items] | ||||||
Net periodic pension expense (income) | $ 5,000,000 | $ 5,000,000 | $ 11,000,000 | $ 10,000,000 |
Pension and Other Employee Be_4
Pension and Other Employee Benefits (Schedule of Marketable Securities) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Inputs, Level 1 [Member] | ||
Marketable Securities [Line Items] | ||
Marketable securities held in trust | $ 686 | $ 642 |
Pension and Other Employee Be_5
Pension and Other Employee Benefits (Schedule of Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Non-operating expense | ||||
Total pension non-service expense | $ 181 | $ 238 | $ 362 | $ 477 |
Pension Plan [Member] | ||||
Operating expense | ||||
Service cost | 104 | 128 | 209 | 255 |
Non-operating expense | ||||
Interest cost | 261 | 252 | 522 | 505 |
Expected return on plan assets | (360) | (363) | (719) | (726) |
Amortization of prior service cost | 2 | 2 | 3 | 3 |
Amortization of net actuarial loss | 273 | 344 | 546 | 688 |
Total pension non-service expense | 176 | 235 | 352 | 470 |
Net periodic pension expense (income) | $ 280 | $ 363 | $ 561 | $ 725 |
Pension and Other Employee Be_6
Pension and Other Employee Benefits (Schedule of Liabilities) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table [Line Items] | ||
Defined Benefit Plan, Long-term Liabilities | $ 6,274 | $ 6,465 |
Pension Plan [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table [Line Items] | ||
Defined Benefit Plan, Long-term Liabilities | 5,922 | 6,111 |
PRB Plan, Defined Benefit [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table [Line Items] | ||
Defined Benefit Plan, Long-term Liabilities | $ 352 | $ 354 |
Pension and Other Employee Be_7
Pension and Other Employee Benefits (Schedule of Contributions) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jul. 01, 2018 | |
Payment for Pension and Other Postretirement Benefits [Abstract] | ||
Required pension contributions | $ 196 | $ 488 |
PRB contributions | 11 | 9 |
Total pension and PRB contributions | $ 207 | $ 497 |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2018 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | Dec. 31, 2018 | |
Income Taxes [Line Items] | |||||
Discretionary pension contributions | $ 1,250,000,000 | $ 0 | $ 0 | ||
Effective Income Tax Rate Reconciliation, Benefit Related to Discretionary Pension Contribution, Amount | $ 95,000,000 | ||||
Effective Income Tax Rate Reconciliation, Benefit Related to Discretionary Pension Contribution, Percent | 11.50% | 6.00% | |||
Unrecognized Tax Benefits | $ 203,000,000 | $ 92,000,000 |
Business Segment Reporting (Seg
Business Segment Reporting (Segment Results) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Segment Reporting Information [Line Items] | ||||
Sales, Net | $ 7,159,000,000 | $ 6,625,000,000 | $ 13,888,000,000 | $ 12,892,000,000 |
Operating income | 1,176,000,000 | 1,100,000,000 | 2,289,000,000 | 2,141,000,000 |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 7,159,000,000 | 6,629,000,000 | 13,889,000,000 | 12,900,000,000 |
Operating income | 858,000,000 | 778,000,000 | 1,649,000,000 | 1,526,000,000 |
Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | (442,000,000) | (376,000,000) | (856,000,000) | (733,000,000) |
Operating income | (46,000,000) | (41,000,000) | (93,000,000) | (81,000,000) |
Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | (442,000,000) | (380,000,000) | (857,000,000) | (741,000,000) |
Corporate [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 0 | 0 | 0 | 0 |
Operating income | (18,000,000) | 3,000,000 | (34,000,000) | (25,000,000) |
Integrated Defense Systems | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 1,619,000,000 | 1,499,000,000 | 3,148,000,000 | 2,973,000,000 |
Integrated Defense Systems | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 1,641,000,000 | 1,514,000,000 | 3,191,000,000 | 3,003,000,000 |
Operating income | 264,000,000 | 262,000,000 | 522,000,000 | 535,000,000 |
Integrated Defense Systems | Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | (22,000,000) | (15,000,000) | (43,000,000) | (30,000,000) |
Operating income | (2,000,000) | (1,000,000) | (4,000,000) | (3,000,000) |
Integrated Defense Systems | Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 0 | 0 | 0 | 0 |
Intelligence, Information and Services | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 1,594,000,000 | 1,520,000,000 | 3,203,000,000 | 2,940,000,000 |
Intelligence, Information and Services | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 1,777,000,000 | 1,687,000,000 | 3,554,000,000 | 3,269,000,000 |
Operating income | 161,000,000 | 128,000,000 | 348,000,000 | 245,000,000 |
Intelligence, Information and Services | Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | (183,000,000) | (167,000,000) | (351,000,000) | (329,000,000) |
Operating income | (18,000,000) | (17,000,000) | (35,000,000) | (34,000,000) |
Intelligence, Information and Services | Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 0 | 0 | 0 | 0 |
Missile Systems | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 2,152,000,000 | 2,009,000,000 | 4,115,000,000 | 3,822,000,000 |
Missile Systems | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 2,210,000,000 | 2,051,000,000 | 4,216,000,000 | 3,899,000,000 |
Operating income | 253,000,000 | 231,000,000 | 443,000,000 | 443,000,000 |
Missile Systems | Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | (58,000,000) | (42,000,000) | (101,000,000) | (77,000,000) |
Operating income | (5,000,000) | (4,000,000) | (9,000,000) | (7,000,000) |
Missile Systems | Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 0 | 0 | 0 | 0 |
Space and Airborne Systems | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 1,644,000,000 | 1,457,000,000 | 3,124,000,000 | 2,886,000,000 |
Space and Airborne Systems | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 1,817,000,000 | 1,605,000,000 | 3,470,000,000 | 3,173,000,000 |
Operating income | 229,000,000 | 206,000,000 | 441,000,000 | 399,000,000 |
Space and Airborne Systems | Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | (173,000,000) | (148,000,000) | (346,000,000) | (287,000,000) |
Operating income | (17,000,000) | (15,000,000) | (34,000,000) | (29,000,000) |
Space and Airborne Systems | Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 0 | 0 | 0 | 0 |
Forcepoint | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 150,000,000 | 140,000,000 | 298,000,000 | 271,000,000 |
Forcepoint | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 156,000,000 | 148,000,000 | 314,000,000 | 289,000,000 |
Operating income | (3,000,000) | (8,000,000) | (12,000,000) | (15,000,000) |
Forcepoint | Intersegment Eliminations [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | (6,000,000) | (4,000,000) | (15,000,000) | (10,000,000) |
Operating income | (4,000,000) | (4,000,000) | (11,000,000) | (8,000,000) |
Forcepoint | Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 0 | (4,000,000) | (1,000,000) | (8,000,000) |
Acquisition Accounting Adjustments | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 0 | 0 | 0 | 0 |
Acquisition Accounting Adjustments | Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Sales, Net | 0 | (4,000,000) | (1,000,000) | (8,000,000) |
Operating income | (27,000,000) | (34,000,000) | (55,000,000) | (67,000,000) |
FAS CAS Operating Adjustment | Segment Reconciling Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income | $ 363,000,000 | $ 353,000,000 | $ 729,000,000 | $ 707,000,000 |
Business Segment Reporting (Com
Business Segment Reporting (Components of FAS/CAS Operating Adjustment) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Operating income | $ 1,176 | $ 1,100 | $ 2,289 | $ 2,141 |
FAS CAS Operating Adjustment | Segment Reconciling Items [Member] | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Operating income | 363 | 353 | 729 | 707 |
FAS/CAS Pension Operating Adjustment | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Operating income | 361 | 350 | 723 | 701 |
FAS/CAS PRB Operating Adjustment | ||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||||
Operating income | $ 2 | $ 3 | $ 6 | $ 6 |
Business Segment Reporting (Tot
Business Segment Reporting (Total Assets) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Segment Reporting Information [Line Items] | ||
Total assets | $ 32,186 | $ 32,670 |
Operating Segments [Member] | Integrated Defense Systems | ||
Segment Reporting Information [Line Items] | ||
Total assets | 4,965 | 4,826 |
Operating Segments [Member] | Intelligence, Information and Services | ||
Segment Reporting Information [Line Items] | ||
Total assets | 4,372 | 4,238 |
Operating Segments [Member] | Missile Systems | ||
Segment Reporting Information [Line Items] | ||
Total assets | 8,769 | 8,229 |
Operating Segments [Member] | Space and Airborne Systems | ||
Segment Reporting Information [Line Items] | ||
Total assets | 6,897 | 6,740 |
Operating Segments [Member] | Forcepoint | ||
Segment Reporting Information [Line Items] | ||
Total assets | 2,422 | 2,529 |
Corporate [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | $ 4,761 | $ 6,108 |
Business Segment Reporting (Dis
Business Segment Reporting (Disaggregation of Revenue) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jul. 01, 2018 | Jun. 30, 2019 | Jul. 01, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 7,159,000,000 | $ 6,625,000,000 | $ 13,888,000,000 | $ 12,892,000,000 |
Corporate [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 7,159,000,000 | 6,629,000,000 | 13,889,000,000 | 12,900,000,000 |
Intersegment Eliminations [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | (442,000,000) | (376,000,000) | (856,000,000) | (733,000,000) |
Segment Reconciling Items [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | (442,000,000) | (380,000,000) | (857,000,000) | (741,000,000) |
Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 3,846,000,000 | 3,628,000,000 | 7,429,000,000 | 7,072,000,000 |
Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 3,313,000,000 | 2,997,000,000 | 6,459,000,000 | 5,820,000,000 |
US Government Sales Excluding Foreign Military Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 4,926,000,000 | 4,430,000,000 | 9,602,000,000 | 8,691,000,000 |
U.S. Direct Commercial Sales and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 122,000,000 | 131,000,000 | 240,000,000 | 251,000,000 |
Foreign Military Sales through U.S. Government [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,057,000,000 | 912,000,000 | 2,075,000,000 | 1,629,000,000 |
Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,054,000,000 | 1,152,000,000 | 1,971,000,000 | 2,321,000,000 |
United States [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 5,048,000,000 | 4,561,000,000 | 9,842,000,000 | 8,942,000,000 |
United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,817,000,000 | 1,645,000,000 | 3,556,000,000 | 3,273,000,000 |
United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 3,109,000,000 | 2,785,000,000 | 6,046,000,000 | 5,418,000,000 |
United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 117,000,000 | 123,000,000 | 229,000,000 | 240,000,000 |
United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 5,000,000 | 8,000,000 | 11,000,000 | 11,000,000 |
Asia Pacific [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 688,000,000 | 708,000,000 | 1,331,000,000 | 1,298,000,000 |
Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 270,000,000 | 251,000,000 | 538,000,000 | 457,000,000 |
Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 40,000,000 | 59,000,000 | 93,000,000 | 117,000,000 |
Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 358,000,000 | 356,000,000 | 663,000,000 | 654,000,000 |
Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 20,000,000 | 42,000,000 | 37,000,000 | 70,000,000 |
Middle East And North Africa [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 982,000,000 | 1,016,000,000 | 1,914,000,000 | 2,013,000,000 |
Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 451,000,000 | 439,000,000 | 912,000,000 | 772,000,000 |
Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 83,000,000 | 63,000,000 | 161,000,000 | 117,000,000 |
Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 430,000,000 | 514,000,000 | 804,000,000 | 1,124,000,000 |
Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 18,000,000 | 0 | 37,000,000 | 0 |
All Other Principally Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 441,000,000 | 340,000,000 | 801,000,000 | 639,000,000 |
All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 189,000,000 | 72,000,000 | 320,000,000 | 105,000,000 |
All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 24,000,000 | 28,000,000 | 51,000,000 | 61,000,000 |
All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 214,000,000 | 228,000,000 | 407,000,000 | 447,000,000 |
All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 14,000,000 | 12,000,000 | 23,000,000 | 26,000,000 |
Integrated Defense Systems | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,619,000,000 | 1,499,000,000 | 3,148,000,000 | 2,973,000,000 |
Integrated Defense Systems | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,641,000,000 | 1,514,000,000 | 3,191,000,000 | 3,003,000,000 |
Integrated Defense Systems | Intersegment Eliminations [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | (22,000,000) | (15,000,000) | (43,000,000) | (30,000,000) |
Integrated Defense Systems | Segment Reconciling Items [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Integrated Defense Systems | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,051,000,000 | 976,000,000 | 2,059,000,000 | 1,953,000,000 |
Integrated Defense Systems | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 568,000,000 | 523,000,000 | 1,089,000,000 | 1,020,000,000 |
Integrated Defense Systems | US Government Sales Excluding Foreign Military Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 672,000,000 | 609,000,000 | 1,318,000,000 | 1,238,000,000 |
Integrated Defense Systems | U.S. Direct Commercial Sales and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,000,000 | 2,000,000 | 2,000,000 | 5,000,000 |
Integrated Defense Systems | Foreign Military Sales through U.S. Government [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 428,000,000 | 388,000,000 | 893,000,000 | 675,000,000 |
Integrated Defense Systems | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 518,000,000 | 500,000,000 | 935,000,000 | 1,055,000,000 |
Integrated Defense Systems | United States [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 673,000,000 | 611,000,000 | 1,320,000,000 | 1,243,000,000 |
Integrated Defense Systems | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 206,000,000 | 198,000,000 | 427,000,000 | 425,000,000 |
Integrated Defense Systems | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 466,000,000 | 411,000,000 | 891,000,000 | 813,000,000 |
Integrated Defense Systems | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,000,000 | 2,000,000 | 2,000,000 | 4,000,000 |
Integrated Defense Systems | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 1,000,000 |
Integrated Defense Systems | Asia Pacific [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 267,000,000 | 305,000,000 | 510,000,000 | 533,000,000 |
Integrated Defense Systems | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 45,000,000 | 50,000,000 | 85,000,000 | 80,000,000 |
Integrated Defense Systems | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 16,000,000 | 22,000,000 | 34,000,000 | 47,000,000 |
Integrated Defense Systems | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 187,000,000 | 191,000,000 | 355,000,000 | 337,000,000 |
Integrated Defense Systems | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 19,000,000 | 42,000,000 | 36,000,000 | 69,000,000 |
Integrated Defense Systems | Middle East And North Africa [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 485,000,000 | 508,000,000 | 997,000,000 | 1,082,000,000 |
Integrated Defense Systems | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 171,000,000 | 243,000,000 | 439,000,000 | 438,000,000 |
Integrated Defense Systems | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 52,000,000 | 38,000,000 | 100,000,000 | 70,000,000 |
Integrated Defense Systems | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 262,000,000 | 227,000,000 | 458,000,000 | 574,000,000 |
Integrated Defense Systems | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Integrated Defense Systems | All Other Principally Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 194,000,000 | 75,000,000 | 321,000,000 | 115,000,000 |
Integrated Defense Systems | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 132,000,000 | 28,000,000 | 212,000,000 | 25,000,000 |
Integrated Defense Systems | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 12,000,000 | 7,000,000 | 23,000,000 | 15,000,000 |
Integrated Defense Systems | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 47,000,000 | 37,000,000 | 81,000,000 | 70,000,000 |
Integrated Defense Systems | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 3,000,000 | 3,000,000 | 5,000,000 | 5,000,000 |
Intelligence, Information and Services | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,594,000,000 | 1,520,000,000 | 3,203,000,000 | 2,940,000,000 |
Intelligence, Information and Services | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,777,000,000 | 1,687,000,000 | 3,554,000,000 | 3,269,000,000 |
Intelligence, Information and Services | Intersegment Eliminations [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | (183,000,000) | (167,000,000) | (351,000,000) | (329,000,000) |
Intelligence, Information and Services | Segment Reconciling Items [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Intelligence, Information and Services | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 432,000,000 | 451,000,000 | 864,000,000 | 886,000,000 |
Intelligence, Information and Services | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,162,000,000 | 1,069,000,000 | 2,339,000,000 | 2,054,000,000 |
Intelligence, Information and Services | US Government Sales Excluding Foreign Military Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,356,000,000 | 1,293,000,000 | 2,732,000,000 | 2,501,000,000 |
Intelligence, Information and Services | U.S. Direct Commercial Sales and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 36,000,000 | 35,000,000 | 73,000,000 | 65,000,000 |
Intelligence, Information and Services | Foreign Military Sales through U.S. Government [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 81,000,000 | 69,000,000 | 174,000,000 | 138,000,000 |
Intelligence, Information and Services | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 121,000,000 | 123,000,000 | 224,000,000 | 236,000,000 |
Intelligence, Information and Services | United States [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,392,000,000 | 1,328,000,000 | 2,805,000,000 | 2,566,000,000 |
Intelligence, Information and Services | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 224,000,000 | 250,000,000 | 449,000,000 | 502,000,000 |
Intelligence, Information and Services | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,132,000,000 | 1,043,000,000 | 2,283,000,000 | 1,999,000,000 |
Intelligence, Information and Services | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 31,000,000 | 29,000,000 | 64,000,000 | 56,000,000 |
Intelligence, Information and Services | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 5,000,000 | 6,000,000 | 9,000,000 | 9,000,000 |
Intelligence, Information and Services | Asia Pacific [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 118,000,000 | 115,000,000 | 243,000,000 | 224,000,000 |
Intelligence, Information and Services | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 61,000,000 | 51,000,000 | 134,000,000 | 102,000,000 |
Intelligence, Information and Services | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 9,000,000 | 11,000,000 | 20,000,000 | 25,000,000 |
Intelligence, Information and Services | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 48,000,000 | 53,000,000 | 89,000,000 | 97,000,000 |
Intelligence, Information and Services | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Intelligence, Information and Services | Middle East And North Africa [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 20,000,000 | 11,000,000 | 35,000,000 | 20,000,000 |
Intelligence, Information and Services | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 6,000,000 | 6,000,000 | 9,000,000 | 10,000,000 |
Intelligence, Information and Services | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 5,000,000 | 1,000,000 | 10,000,000 | 1,000,000 |
Intelligence, Information and Services | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 9,000,000 | 4,000,000 | 16,000,000 | 9,000,000 |
Intelligence, Information and Services | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Intelligence, Information and Services | All Other Principally Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 64,000,000 | 66,000,000 | 120,000,000 | 130,000,000 |
Intelligence, Information and Services | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 1,000,000 | 0 |
Intelligence, Information and Services | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Intelligence, Information and Services | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 53,000,000 | 58,000,000 | 102,000,000 | 110,000,000 |
Intelligence, Information and Services | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 11,000,000 | 8,000,000 | 17,000,000 | 20,000,000 |
Missile Systems | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 2,152,000,000 | 2,009,000,000 | 4,115,000,000 | 3,822,000,000 |
Missile Systems | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 2,210,000,000 | 2,051,000,000 | 4,216,000,000 | 3,899,000,000 |
Missile Systems | Intersegment Eliminations [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | (58,000,000) | (42,000,000) | (101,000,000) | (77,000,000) |
Missile Systems | Segment Reconciling Items [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Missile Systems | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,318,000,000 | 1,274,000,000 | 2,526,000,000 | 2,410,000,000 |
Missile Systems | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 834,000,000 | 735,000,000 | 1,589,000,000 | 1,412,000,000 |
Missile Systems | US Government Sales Excluding Foreign Military Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,509,000,000 | 1,336,000,000 | 2,915,000,000 | 2,547,000,000 |
Missile Systems | U.S. Direct Commercial Sales and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 8,000,000 | 11,000,000 | 16,000,000 | 23,000,000 |
Missile Systems | Foreign Military Sales through U.S. Government [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 377,000,000 | 319,000,000 | 687,000,000 | 570,000,000 |
Missile Systems | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 258,000,000 | 343,000,000 | 497,000,000 | 682,000,000 |
Missile Systems | United States [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,517,000,000 | 1,347,000,000 | 2,931,000,000 | 2,570,000,000 |
Missile Systems | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 715,000,000 | 651,000,000 | 1,423,000,000 | 1,234,000,000 |
Missile Systems | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 794,000,000 | 685,000,000 | 1,492,000,000 | 1,313,000,000 |
Missile Systems | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 8,000,000 | 10,000,000 | 16,000,000 | 23,000,000 |
Missile Systems | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 1,000,000 | 0 | 0 |
Missile Systems | Asia Pacific [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 185,000,000 | 178,000,000 | 356,000,000 | 336,000,000 |
Missile Systems | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 128,000,000 | 113,000,000 | 251,000,000 | 209,000,000 |
Missile Systems | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 7,000,000 | 21,000,000 | 23,000,000 | 39,000,000 |
Missile Systems | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 49,000,000 | 44,000,000 | 81,000,000 | 87,000,000 |
Missile Systems | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,000,000 | 0 | 1,000,000 | 1,000,000 |
Missile Systems | Middle East And North Africa [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 363,000,000 | 373,000,000 | 648,000,000 | 690,000,000 |
Missile Systems | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 191,000,000 | 126,000,000 | 307,000,000 | 206,000,000 |
Missile Systems | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 4,000,000 | 7,000,000 | 9,000,000 | 14,000,000 |
Missile Systems | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 150,000,000 | 240,000,000 | 295,000,000 | 470,000,000 |
Missile Systems | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 18,000,000 | 0 | 37,000,000 | 0 |
Missile Systems | All Other Principally Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 87,000,000 | 111,000,000 | 180,000,000 | 226,000,000 |
Missile Systems | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 37,000,000 | 32,000,000 | 71,000,000 | 58,000,000 |
Missile Systems | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 10,000,000 | 20,000,000 | 26,000,000 | 44,000,000 |
Missile Systems | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 40,000,000 | 58,000,000 | 82,000,000 | 123,000,000 |
Missile Systems | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 1,000,000 | 1,000,000 | 1,000,000 |
Space and Airborne Systems | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,644,000,000 | 1,457,000,000 | 3,124,000,000 | 2,886,000,000 |
Space and Airborne Systems | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,817,000,000 | 1,605,000,000 | 3,470,000,000 | 3,173,000,000 |
Space and Airborne Systems | Intersegment Eliminations [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | (173,000,000) | (148,000,000) | (346,000,000) | (287,000,000) |
Space and Airborne Systems | Segment Reconciling Items [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Space and Airborne Systems | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 899,000,000 | 791,000,000 | 1,691,000,000 | 1,559,000,000 |
Space and Airborne Systems | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 745,000,000 | 666,000,000 | 1,433,000,000 | 1,327,000,000 |
Space and Airborne Systems | US Government Sales Excluding Foreign Military Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,345,000,000 | 1,167,000,000 | 2,553,000,000 | 2,356,000,000 |
Space and Airborne Systems | U.S. Direct Commercial Sales and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 32,000,000 | 32,000,000 | 59,000,000 | 58,000,000 |
Space and Airborne Systems | Foreign Military Sales through U.S. Government [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 171,000,000 | 136,000,000 | 321,000,000 | 246,000,000 |
Space and Airborne Systems | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 96,000,000 | 122,000,000 | 191,000,000 | 226,000,000 |
Space and Airborne Systems | United States [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,377,000,000 | 1,199,000,000 | 2,612,000,000 | 2,414,000,000 |
Space and Airborne Systems | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 632,000,000 | 525,000,000 | 1,181,000,000 | 1,070,000,000 |
Space and Airborne Systems | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 713,000,000 | 642,000,000 | 1,372,000,000 | 1,286,000,000 |
Space and Airborne Systems | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 32,000,000 | 31,000,000 | 58,000,000 | 57,000,000 |
Space and Airborne Systems | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 1,000,000 | 1,000,000 | 1,000,000 |
Space and Airborne Systems | Asia Pacific [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 102,000,000 | 93,000,000 | 190,000,000 | 173,000,000 |
Space and Airborne Systems | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 36,000,000 | 37,000,000 | 68,000,000 | 66,000,000 |
Space and Airborne Systems | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 8,000,000 | 5,000,000 | 16,000,000 | 6,000,000 |
Space and Airborne Systems | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 58,000,000 | 51,000,000 | 106,000,000 | 101,000,000 |
Space and Airborne Systems | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Space and Airborne Systems | Middle East And North Africa [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 106,000,000 | 116,000,000 | 218,000,000 | 206,000,000 |
Space and Airborne Systems | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 83,000,000 | 64,000,000 | 157,000,000 | 118,000,000 |
Space and Airborne Systems | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 22,000,000 | 17,000,000 | 42,000,000 | 32,000,000 |
Space and Airborne Systems | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 1,000,000 | 35,000,000 | 19,000,000 | 56,000,000 |
Space and Airborne Systems | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Space and Airborne Systems | All Other Principally Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 59,000,000 | 49,000,000 | 104,000,000 | 93,000,000 |
Space and Airborne Systems | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 20,000,000 | 12,000,000 | 36,000,000 | 22,000,000 |
Space and Airborne Systems | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 2,000,000 | 1,000,000 | 2,000,000 | 2,000,000 |
Space and Airborne Systems | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 37,000,000 | 36,000,000 | 66,000,000 | 69,000,000 |
Space and Airborne Systems | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 150,000,000 | 140,000,000 | 298,000,000 | 271,000,000 |
Forcepoint | Operating Segments [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 156,000,000 | 148,000,000 | 314,000,000 | 289,000,000 |
Forcepoint | Intersegment Eliminations [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | (6,000,000) | (4,000,000) | (15,000,000) | (10,000,000) |
Forcepoint | Segment Reconciling Items [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | (4,000,000) | (1,000,000) | (8,000,000) |
Forcepoint | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 146,000,000 | 136,000,000 | 289,000,000 | 264,000,000 |
Forcepoint | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 4,000,000 | 4,000,000 | 9,000,000 | 7,000,000 |
Forcepoint | US Government Sales Excluding Foreign Military Sales [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 44,000,000 | 25,000,000 | 84,000,000 | 49,000,000 |
Forcepoint | U.S. Direct Commercial Sales and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 45,000,000 | 51,000,000 | 90,000,000 | 100,000,000 |
Forcepoint | Foreign Military Sales through U.S. Government [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 61,000,000 | 64,000,000 | 124,000,000 | 122,000,000 |
Forcepoint | United States [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 89,000,000 | 76,000,000 | 174,000,000 | 149,000,000 |
Forcepoint | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 40,000,000 | 21,000,000 | 76,000,000 | 42,000,000 |
Forcepoint | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 4,000,000 | 4,000,000 | 8,000,000 | 7,000,000 |
Forcepoint | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 45,000,000 | 51,000,000 | 89,000,000 | 100,000,000 |
Forcepoint | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 1,000,000 | 0 |
Forcepoint | Asia Pacific [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 16,000,000 | 17,000,000 | 32,000,000 | 32,000,000 |
Forcepoint | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 16,000,000 | 17,000,000 | 32,000,000 | 32,000,000 |
Forcepoint | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | Middle East And North Africa [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 8,000,000 | 8,000,000 | 16,000,000 | 15,000,000 |
Forcepoint | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 8,000,000 | 8,000,000 | 16,000,000 | 15,000,000 |
Forcepoint | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | All Other Principally Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 37,000,000 | 39,000,000 | 76,000,000 | 75,000,000 |
Forcepoint | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Forcepoint | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 37,000,000 | 39,000,000 | 76,000,000 | 75,000,000 |
Forcepoint | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Acquisition Accounting Adjustments | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Acquisition Accounting Adjustments | Segment Reconciling Items [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | (4,000,000) | (1,000,000) | (8,000,000) |
Operating Segments [Member] | Intersegment Eliminations [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | United States [Member] | US Government Sales Excluding Foreign Military Sales [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | United States [Member] | U.S. Direct Commercial Sales and Other [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | Asia Pacific [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | Asia Pacific [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | Middle East And North Africa [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | Middle East And North Africa [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | All Other Principally Europe [Member] | Foreign Military Sales through U.S. Government [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Fixed-price [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Corporate [Member] | All Other Principally Europe [Member] | Foreign direct commercial sales, excluding Foreign Military Sales through U.S. Gov [Member] | Cost-type [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Net sales | $ 0 | $ 0 | $ 0 | $ 0 |
Remaining Performance Obligat_2
Remaining Performance Obligations (Narrative) (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Revenue, Remaining Performance Obligation [Line Items] | |
Remaining Performance Obligation | $ 43,131 |
Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation | We expect to recognize revenue on approximately half and three-quarters of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter. |
SAUDI ARABIA | |
Revenue, Remaining Performance Obligation [Line Items] | |
Remaining Performance Obligation | $ 2,400 |
Maximum [Member] | SAUDI ARABIA | |
Revenue, Remaining Performance Obligation [Line Items] | |
Kingdom of Saudi Arabia net sales, as a percent of total net sales | 5.00% |