General Dynamics (GD) 10-Q 29 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jul. 05, 2015 - shares	Total
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 5, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	GD
Entity Registrant Name	GENERAL DYNAMICS CORPORATION
Entity Central Index Key	40,533
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	322,727,167

Consolidated Statements of Earn

Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Revenues:
Products	$ 5,138	$ 4,659	$ 10,070	$ 9,096
Services	2,744	2,815	5,596	5,643
Revenues	7,882	7,474	15,666	14,739
Operating costs and expenses:
Products	4,031	3,637	7,850	7,102
Services	2,303	2,402	4,738	4,837
General and administrative (G&A)	467	486	970	977
Operating costs and expenses, total	6,801	6,525	13,558	12,916
Operating earnings	1,081	949	2,108	1,823
Interest, net	(20)	(24)	(41)	(46)
Other, net		0	3	1
Earnings from continuing operations before income tax	1,061	925	2,070	1,778
Provision for income tax, net	309	279	602	536
Earnings from Continuing Operations	752	646	1,468	1,242
Discontinued operations, net of tax	0	(105)	0	(106)
Net earnings	$ 752	$ 541	$ 1,468	$ 1,136
Basic:
Continuing operations	$ 2.31	$ 1.92	$ 4.48	$ 3.66
Discontinued operations	0	(0.31)	0	(0.31)
Basic earnings per share	2.31	1.61	4.48	3.35
Diluted:
Continuing operations	2.27	1.88	4.41	3.60
Discontinued operations	0	(0.30)	0	(0.31)
Diluted earnings per share	$ 2.27	$ 1.58	$ 4.41	$ 3.29

Consolidated Statements of Ear3

Consolidated Statements of Earnings (Parentheticals) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 29, 2014	Jul. 05, 2015
Condensed Statements Of Earnings (Parenthetical) [Abstract]
Discontinued Operation, Tax Effect of Discontinued Operation	$ (38)	$ (39)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Net earnings	$ 752	$ 541	$ 1,468	$ 1,136
Losses on cash flow hedges	(1)	(13)	(384)	(9)
Unrealized (losses) gains on securities	(2)	3	0	6
Foreign currency translation adjustments	69	74	(35)	9
Change in retirement plans' funded status	91	55	188	116
Other comprehensive (loss) income, pretax	157	119	(231)	122
(Benefit) provision for income tax, net	33	20	(71)	41
Other comprehensive (loss) income, net of tax	124	99	(160)	81
Comprehensive income	$ 876	$ 640	$ 1,308	$ 1,217

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 05, 2015	Dec. 31, 2014
Current assets:
Cash and equivalents	$ 4,032	$ 4,388
Accounts receivable	3,595	4,050
Contracts in process	4,273	4,591
Inventories	3,359	3,221
Other current assets	514	1,157
Total current assets	15,773	17,407
Noncurrent assets:
Property, plant and equipment, net	3,329	3,329
Intangible assets, net	841	912
Goodwill	11,644	11,731	[1]
Other assets	2,067	1,976
Total noncurrent assets	17,881	17,948
Total assets	33,654	35,355
Current liabilities:
Short-term debt and current portion of long-term debt	2	501
Accounts payable	2,275	2,057
Customer advances and deposits	6,104	7,335
Other current liabilities	4,327	3,858
Total current liabilities	12,708	13,751
Noncurrent liabilities:
Long-term debt	3,411	3,410
Other liabilities	$ 6,259	$ 6,365
Commitments and contingencies (See Note L)
Total noncurrent liabilities	$ 9,670	$ 9,775
Shareholders' equity:
Common stock	482	482
Surplus	2,657	2,548
Retained earnings	22,143	21,127
Treasury stock	(10,914)	(9,396)
Accumulated other comprehensive loss	(3,092)	(2,932)
Total shareholders' equity	11,276	11,829
Total liabilities and shareholders' equity	$ 33,654	$ 35,355
[1]	Goodwill on December 31, 2014, in the Information Systems and Technology reporting unit is net of $1,994 of accumulated impairment losses.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		6 Months Ended
		Jul. 05, 2015	Jun. 29, 2014
Cash flows from operating activities - continuing operations:
Net earnings		$ 1,468	$ 1,136
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of property, plant and equipment		184	191
Amortization of intangible assets		59	61
Equity-based compensation expense		71	64
Excess tax benefit from stock-based compensation		(57)	(54)
Deferred income tax provision		21	64
Discontinued operations, net of tax		0	106
(Increase) decrease in assets, net of effects of business acquisitions:
Accounts receivable		455	(104)
Contracts in process		330	(130)
Inventories		(149)	(278)
Increase (decrease) in liabilities, net of effects of business acquisitions:
Accounts payable		222	270
Customer advances and deposits		(1,252)	25
Other, net		(4)	(57)
Net cash provided by operating activities	[1]	1,348	1,294
Cash flows from investing activities - continuing operations:
Maturities of held-to-maturity securities		500	0
Proceeds from sales of assets		259	3
Capital expenditures		(190)	(162)
Other, net		(18)	14
Net cash provided (used) by investing activities		551	(145)
Cash flows from financing activities - continuing operations:
Purchases of common stock		(1,565)	(2,691)
Repayments of fixed-rate notes		(500)	0
Dividends paid		(432)	(411)
Proceeds from stock option exercises		198	415
Other, net		60	54
Net cash used by financing activities		(2,239)	(2,633)
Net cash used (provided) by discontinued operations		(16)	24
Net increase (decrease) in cash and equivalents		(356)	(1,460)
Cash and equivalents at beginning of period		4,388	5,301
Cash and equivalents at end of period		4,032	3,841
Cash payments for:
Income taxes		530	281
Interest		$ 45	$ 44
[1]	* Continuing operations only

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) Statement - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance, at Dec. 31, 2013	$ 14,501	$ 482	$ 2,226	$ 19,428	$ (6,450)	$ (1,185)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,136	0	0	1,136	0	0
Cash dividends declared	(422)	0	0	(422)	0	0
Stock-based awards	514	0	189	0	325	0
Shares purchased	(2,691)	0	0	0	(2,691)	0
Other comprehensive loss	81	0	0	0	0	81
Balance, at Jun. 29, 2014	13,119	482	2,415	20,142	(8,816)	(1,104)
Balance, at Dec. 31, 2014	11,829	482	2,548	21,127	(9,396)	(2,932)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,468	0	0	1,468	0	0
Cash dividends declared	(452)	0	0	(452)	0	0
Stock-based awards	284	0	109	0	175	0
Shares purchased	(1,693)	0	0	0	(1,693)	0
Other comprehensive loss	(160)	0	0	0	0	(160)
Balance, at Jul. 05, 2015	$ 11,276	$ 482	$ 2,657	$ 22,143	$ (10,914)	$ (3,092)

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	6 Months Ended
	Jul. 05, 2015
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Consolidation and Classification. The unaudited Consolidated Financial Statements include the accounts of General Dynamics Corporation and our wholly owned and majority-owned subsidiaries. We eliminate all inter-company balances and transactions in the unaudited Consolidated Financial Statements. Consistent with defense industry practice, we classify assets and liabilities related to long-term production contracts as current, even though some of these amounts may not be realized within one year. Interim Financial Statements. The unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. These rules and regulations permit some of the information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) to be condensed or omitted. Our fiscal quarters are 13 weeks in length. Because our fiscal year ends on December 31, the number of days in our first and fourth quarters varies slightly from year to year. Operating results for the three- and six-month periods ended July 5, 2015 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . The unaudited Consolidated Financial Statements contain all adjustments that are of a normal recurring nature necessary for a fair presentation of our results of operations and financial condition for the three- and six-month periods ended July 5, 2015 , and June 29, 2014 . These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014 . Revenue Recognition. We account for revenues and earnings using the percentage-of-completion method. Under this method, contract costs and revenues are recognized as the work progresses, either as the products are produced or as services are rendered. We estimate the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognize that profit over the life of the contract. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the loss in the quarter it is identified. We review and update our contract-related estimates regularly. We recognize changes in estimated profit on contracts under the reallocation method. Under the reallocation method, the impact of a revision in estimate is recognized prospectively over the remaining contract term. The net increase in our operating earnings (and on a per-share basis) from the impact of revisions in contract estimates totaled favorable changes of $45 ( $0.09 ) and $108 ( $0.21 ) for the three- and six-month periods ended July 5, 2015 , and $62 ($0.12) and $100 ($0.19) for the three- and six-month periods ended June 29, 2014 , respectively. No revisions on any one contract were material to our unaudited Consolidated Financial Statements in the second quarter and first six months of 2015 or 2014. In the second quarter of 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers. ASU 2014-09 prescribes a single, common revenue standard that replaces most existing revenue recognition guidance in GAAP. The standard outlines a five-step model, whereby revenue is recognized as performance obligations within a contract are satisfied. The standard also requires new, expanded disclosures regarding revenue recognition. As written, ASU 2014-09 is effective in the first quarter of 2017 for public companies. However, in the second quarter of 2015, the FASB voted to approve a one-year deferral of the effective date of the standard, while permitting entities to elect to adopt one year earlier on the original effective date. The standard permits the use of either the retrospective or cumulative effect transition method. We have not yet selected a transition date or method nor have we determined the effect of the standard on our consolidated financial statements as the standard continues to undergo changes. The required adoption of the ASU will preclude our use of the reallocation method of recognizing revisions in estimated profit on contracts discussed above. As changes in estimated profit will be recognized in the period they are identified (cumulative catch-up method), rather than prospectively over the remaining contract term, we expect that the impact of revisions of contract estimates may be larger and potentially more variable from period to period. Anticipated losses on contracts will continue to be recognized in the quarter they are identified. Discontinued Operations. We completed the sale of our axle business in the Combat Systems group in January 2015. The 2014 financial statements have been restated to reflect the results of operations of this business in discontinued operations. Subsequent Events. We have evaluated material events and transactions that have occurred after July 5, 2015 , and concluded that none have occurred that require adjustment to or disclosure in the unaudited Consolidated Financial Statements.

Acquisitions, Intangible Assets

Acquisitions, Intangible Assets And Goodwill	6 Months Ended
	Jul. 05, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions, Intangible Assets And Goodwill	ACQUISITIONS, INTANGIBLE ASSETS AND GOODWILL We have not acquired any businesses in 2015 . In 2014 , our Information Systems and Technology group acquired a provider of IT support to U.S. special operations forces. The operating results of this acquisition have been included with our reported results since the closing date. The purchase price of this acquisition has been allocated to the estimated fair value of net tangible and intangible assets acquired, with any excess purchase price recorded as goodwill. The changes in the carrying amount of goodwill by reporting unit for the six months ended July 5, 2015 , were as follows: Aerospace Combat Systems Information Systems and Technology Marine Systems Total Goodwill December 31, 2014 (a) $ 2,555 $ 2,750 $ 6,137 $ 289 $ 11,731 Acquisitions/divestitures (b) — — (91 ) — (91 ) Other (c) 87 (67 ) (16 ) — 4 July 5, 2015 $ 2,642 $ 2,683 $ 6,030 $ 289 $ 11,644 (a) Goodwill on December 31, 2014, in the Information Systems and Technology reporting unit is net of $1,994 of accumulated impairment losses. (b) Includes adjustments during the purchase price allocation period for the acquisition discussed above and an allocation of goodwill associated with the sale of a commercial cybersecurity business in the second quarter of 2015 . (c) Consists primarily of adjustments for foreign currency translation. Intangible assets consisted of the following: Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount July 5, 2015 December 31, 2014 Contract and program intangible assets* $ 1,628 $ (1,169 ) $ 459 $ 1,652 $ (1,123 ) $ 529 Trade names and trademarks 475 (118 ) 357 462 (113 ) 349 Technology and software 120 (95 ) 25 130 (97 ) 33 Other intangible assets 154 (154 ) — 154 (153 ) 1 Total intangible assets $ 2,377 $ (1,536 ) $ 841 $ 2,398 $ (1,486 ) $ 912 * Consists of acquired backlog and probable follow-on work and related customer relationships. Amortization expense was $29 and $59 for the three- and six-month periods ended July 5, 2015 , and $31 and $61 for the three- and six-month periods ended June 29, 2014 . We expect to record amortization expense of $117 in 2015 .

Earnings And Dividends Per Shar

Earnings And Dividends Per Share	6 Months Ended
	Jul. 05, 2015
Earnings Per Share [Abstract]
Earnings And Dividends Per Share	EARNINGS PER SHARE We compute basic earnings per share (EPS) using net earnings for the period and the weighted average number of common shares outstanding during the period. Basic weighted average shares outstanding have decreased throughout 2015 and 2014 due to share repurchases. See Note J for additional details of our share repurchases. Diluted EPS incorporates the additional shares issuable upon the assumed exercise of stock options and the release of restricted shares and restricted stock units (RSUs). Basic and diluted weighted average shares outstanding were as follows (in thousands): Three Months Ended Six Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Basic weighted average shares outstanding 326,153 336,692 327,653 339,462 Dilutive effect of stock options and restricted stock/RSUs* 5,273 6,093 5,396 5,905 Diluted weighted average shares outstanding 331,426 342,785 333,049 345,367 * Excludes outstanding options to purchase shares of common stock because these options had exercise prices in excess of the average market price of our common stock during the period and therefore the effect of including these options would be antidilutive. These options totaled 2,091 and 1,387 for the three- and six-month periods ended July 5, 2015 , and 4,491 and 2,922 for the three- and six-month periods ended June 29, 2014 , respectively.

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	6 Months Ended
	Jul. 05, 2015
Fair Value Disclosures [Abstract]
Fair Value Of Financial Instruments	FAIR VALUE Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between marketplace participants. Various valuation approaches can be used to determine fair value, each requiring different valuation inputs. The following hierarchy classifies the inputs used to determine fair value into three levels: • Level 1 – quoted prices in active markets for identical assets or liabilities; • Level 2 – inputs, other than quoted prices, observable by a marketplace participant either directly or indirectly; and • Level 3 – unobservable inputs significant to the fair value measurement. We did not have any significant non-financial assets or liabilities measured at fair value on July 5, 2015 , or December 31, 2014 , except for the assets of our axle business that were classified as held for sale on December 31, 2014, and were measured at fair value using Level 3 inputs. Our financial instruments include cash and equivalents, marketable securities and other investments; accounts receivable and accounts payable; short- and long-term debt; and derivative financial instruments. The carrying values of cash and equivalents, accounts receivable and payable and short-term debt on the Consolidated Balance Sheets approximate their fair value. The following tables present the fair values of our other financial assets and liabilities on July 5, 2015 , and December 31, 2014 , and the basis for determining their fair values: Carrying Value Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) (a) Financial assets (liabilities) (b) July 5, 2015 Available-for-sale securities $ 179 $ 179 $ 109 $ 70 Derivatives (638 ) (638 ) — (638 ) Long-term debt, including current portion (3,413 ) (3,357 ) — (3,357 ) December 31, 2014 Held-to-maturity marketable securities (c) $ 500 $ 500 $ 10 $ 490 Available-for-sale securities 188 188 123 65 Derivatives (276 ) (276 ) — (276 ) Long-term debt, including current portion (3,911 ) (3,911 ) — (3,911 ) (a) Determined under a market approach using valuation models that incorporate observable inputs such as interest rates, bond yields and quoted prices for similar assets and liabilities. (b) We had no Level 3 financial instruments on July 5, 2015 , or December 31, 2014 . (c) Included in other current assets on the December 31, 2014 , Consolidated Balance Sheet.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 05, 2015
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Net Deferred Tax Asset. Our net deferred tax asset was included on the Consolidated Balance Sheets in other assets and liabilities as follows: July 5, 2015 December 31, 2014 Current deferred tax asset $ 17 $ 16 Current deferred tax liability (771 ) (729 ) Noncurrent deferred tax asset 1,524 1,439 Noncurrent deferred tax liability (89 ) (82 ) Net deferred tax asset $ 681 $ 644 Tax Uncertainties. For all periods open to examination by tax authorities, we periodically assess our liabilities and contingencies based on the latest available information. Where we believe there is more than a 50 percent chance that our tax position will not be sustained, we record our best estimate of the resulting tax liability, including interest, in the Consolidated Financial Statements. We include any interest or penalties incurred in connection with income taxes as part of income tax expense. We participate in the Internal Revenue Service (IRS) Compliance Assurance Process, a real-time audit of our consolidated federal corporate income tax return. The IRS has examined our consolidated federal income tax returns through 2013 . We do not expect the resolution of tax matters for open years to have a material impact on our results of operations, financial condition, cash flows or effective tax rate. Based on all known facts and circumstances and current tax law, we believe the total amount of any unrecognized tax benefits on July 5, 2015 , is not material to our results of operations, financial condition or cash flows, and if recognized, would not have a material impact on our effective tax rate. In addition, there are no tax positions for which it is reasonably possible that the unrecognized tax benefits will significantly vary over the next 12 months, producing, individually or in the aggregate, a material effect on our results of operations, financial condition or cash flows.

Contracts In Process

Contracts In Process	6 Months Ended
	Jul. 05, 2015
Contractors [Abstract]
Contracts In Process	CONTRACTS IN PROCESS Contracts in process represent recoverable costs and, where applicable, accrued profit related to long-term contracts that have been inventoried until the customer is billed, and consisted of the following: July 5, 2015 December 31, 2014 Contract costs and estimated profits $ 7,505 $ 7,494 Other contract costs 1,040 1,064 8,545 8,558 Advances and progress payments (4,272 ) (3,967 ) Total contracts in process $ 4,273 $ 4,591 Contract costs consist primarily of labor, material, overhead and G&A expenses. Other contract costs represent amounts that are not currently allocable to government contracts, such as a portion of our estimated workers’ compensation obligations, other insurance-related assessments, pension and other post-retirement benefits and environmental expenses. These costs will become allocable to contracts generally after they are paid. We expect to recover these costs through ongoing business, including existing backlog and probable follow-on contracts. If the backlog in the future does not support the continued deferral of these costs, the profitability of our remaining contracts could be adversely affected.

Inventories

Inventories	6 Months Ended
	Jul. 05, 2015
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Our inventories represent primarily business-jet components and are stated at the lower of cost or net realizable value. Work-in-process represents largely labor, material and overhead costs associated with aircraft in the manufacturing process and is based primarily on the estimated average unit cost of the units in a production lot. Raw materials are valued primarily on the first-in, first-out method. We record pre-owned aircraft acquired in connection with the sale of new aircraft at the lower of the trade-in value or the estimated net realizable value. Inventories consisted of the following: July 5, 2015 December 31, 2014 Work in process $ 1,992 $ 1,828 Raw materials 1,325 1,290 Finished goods 23 28 Pre-owned aircraft 19 75 Total inventories $ 3,359 $ 3,221

Debt

Debt	6 Months Ended
	Jul. 05, 2015
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following: July 5, 2015 December 31, 2014 Fixed-rate notes due: Interest Rate January 2015 1.375% $ — $ 500 July 2016 2.250% 500 500 November 2017 1.000% 897 897 July 2021 3.875% 500 499 November 2022 2.250% 993 992 November 2042 3.600% 498 498 Other Various 25 25 Total debt 3,413 3,911 Less current portion 2 501 Long-term debt $ 3,411 $ 3,410 Our fixed-rate notes are fully and unconditionally guaranteed by several of our 100 -percent-owned subsidiaries (see Note O for condensed consolidating financial statements). We have the option to redeem the notes prior to their maturity in whole or part for the principal plus any accrued but unpaid interest and applicable make-whole amounts. In January 2015, we repaid $500 of fixed-rate notes on their scheduled maturity date. On July 5, 2015 , we had no commercial paper outstanding, but we maintain the ability to access the commercial paper market in the future. We have $2 billion in committed bank credit facilities that provide backup liquidity to our commercial paper program. These credit facilities include a $1 billion multi-year facility expiring in July 2016 and a $1 billion multi-year facility expiring in July 2018 . These facilities are required by rating agencies to support our commercial paper issuances. We may renew or replace, in whole or part, these credit facilities at or prior to their expiration dates. Our bank credit facilities are guaranteed by several of our 100 -percent-owned subsidiaries. In addition, we have approximately $230 in committed bank credit facilities to provide backup liquidity to our European businesses. Our financing arrangements contain a number of customary covenants and restrictions. We were in compliance with all covenants on July 5, 2015 .

Other Liabilities

Other Liabilities	6 Months Ended
	Jul. 05, 2015
Other Liabilities Disclosure [Abstract]
Other Liabilities	OTHER LIABILITIES A summary of significant other liabilities by balance sheet caption follows: July 5, 2015 December 31, 2014 Deferred income taxes $ 771 $ 729 Fair value of cash flow hedges 700 292 Salaries and wages 645 718 Workers' compensation 398 420 Retirement benefits 306 309 Other (a) 1,507 1,390 Total other current liabilities $ 4,327 $ 3,858 Retirement benefits $ 4,537 $ 4,596 Customer deposits on commercial contracts 580 617 Deferred income taxes 89 82 Other (b) 1,053 1,070 Total other liabilities $ 6,259 $ 6,365 (a) Consists primarily of dividends payable, taxes payable, environmental remediation reserves, warranty reserves, liabilities of discontinued operations and insurance-related costs. (b) Consists primarily of liabilities for warranty reserves and workers' compensation and liabilities of discontinued operations. The increase in the fair value of our cash flow hedge liabilities from December 31, 2014 , to July 5, 2015 , largely corresponds to the unrecognized losses on cash flow hedges deferred in accumulated other comprehensive loss (AOCL). These losses will be deferred in AOCL until the underlying transaction is reflected in earnings, at which time we believe the losses will be offset by corresponding gains in the remeasurement of the underlying transactions being hedged.

Shareholders' Equity Shareholde

Shareholders' Equity Shareholders' Equity	6 Months Ended
	Jul. 05, 2015
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS' EQUITY Share Repurchases. In 2015 , we repurchased approximately 12.1 million of our outstanding shares for $1.7 billion . As some of these shares did not settle until the third quarter of 2015 , an associated cash outflow of $128 will be reported as third quarter transactions. On June 4, 2015, the board of directors authorized management to repurchase 10 million shares of common stock on the open market in addition to the 10 million authorized in February 2015. On July 5, 2015 , 10.3 million shares remained authorized by our board of directors for repurchase, approximately 3 percent of our total shares outstanding. We repurchased 29 million shares for a total of $3.4 billion in 2014, including 25 million shares for a total of $2.7 billion in the first six months of 2014 . Dividends per Share. Dividends declared per share were $0.69 and $1.38 for the three- and six-month periods ended July 5, 2015 , and $0.62 and $1.24 for the three- and six-month periods ended June 29, 2014 , respectively. Cash dividends paid were $226 and $432 for the three- and six-month periods ended July 5, 2015 , and $213 and $411 for the three- and six-month periods ended June 29, 2014 , respectively. Accumulated Other Comprehensive Loss. The changes, pretax and net of tax, in each component of AOCL consisted of the following: Losses on Cash Flow Hedges Unrealized Gains on Securities Foreign Currency Translation Adjustments Changes in Retirement Plans’ Funded Status AOCL Balance, December 31, 2014 $ (173 ) $ 22 $ 541 $ (3,322 ) $ (2,932 ) Other comprehensive loss, pretax (384 ) — (35 ) 188 (231 ) Benefit for income tax, net (135 ) 1 (3 ) 66 (71 ) Other comprehensive loss, net of tax (249 ) (1 ) (32 ) 122 (160 ) Balance, July 5, 2015 $ (422 ) $ 21 $ 509 $ (3,200 ) $ (3,092 ) Gains on Cash Flow Hedges Unrealized Gains on Securities Foreign Currency Translation Adjustments Changes in Retirement Plans’ Funded Status AOCL Balance, December 31, 2013 $ 9 $ 15 $ 974 $ (2,183 ) $ (1,185 ) Other comprehensive income, pretax (9 ) 6 9 116 122 Provision for income tax, net (3 ) 2 1 41 41 Other comprehensive income, net of tax (6 ) 4 8 75 81 Balance, June 29, 2014 $ 3 $ 19 $ 982 $ (2,108 ) $ (1,104 ) Amounts reclassified out of AOCL related primarily to changes in retirement plans' funded status and consisted of pretax recognized net actuarial losses of $222 and $153 for the six-month periods ended July 5, 2015 , and June 29, 2014 , respectively. This was partially offset by pretax amortization of prior service credit of $36 and $35 for the six-month periods ended July 5, 2015 , and June 29, 2014 , respectively. These AOCL components are included in our net periodic pension and other post-retirement benefit cost. See Note M for additional details.

Derivative Instruments And Hedg

Derivative Instruments And Hedging Activities	6 Months Ended
	Jul. 05, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments And Hedging Activities	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to market risk, primarily from foreign currency exchange rates, interest rates, commodity prices and investments. We may use derivative financial instruments to hedge some of these risks as described below. We do not use derivatives for trading or speculative purposes. Foreign Currency Risk and Hedging Activities. Our foreign currency exchange rate risk relates to receipts from customers, payments to suppliers and inter-company transactions denominated in foreign currencies. To the extent possible, we include terms in our contracts that are designed to protect us from this risk. Otherwise, we enter into derivative financial instruments, principally foreign currency forward purchase and sale contracts, designed to offset and minimize our risk. The two -year average maturity of these instruments matches the duration of the activities that are at risk. We had $8.9 billion in notional forward exchange contracts outstanding on July 5, 2015 , and $9.1 billion on December 31, 2014 . We recognize derivative financial instruments on the Consolidated Balance Sheets at fair value (see Note D). We record changes in the fair value of derivative financial instruments in operating costs and expenses in the Consolidated Statements of Earnings or in other comprehensive loss (OCL) within the Consolidated Statements of Comprehensive Income depending on whether the derivative is designated and qualifies for hedge accounting. Gains and losses related to derivatives that qualify as cash flow hedges are deferred in OCL until the underlying transaction is reflected in earnings. We adjust derivative financial instruments not designated as cash flow hedges to market value each period and record the gain or loss in the Consolidated Statements of Earnings. The gains and losses on these instruments generally offset losses and gains on the assets, liabilities and other transactions being hedged. Gains and losses resulting from hedge ineffectiveness are recognized in the Consolidated Statements of Earnings for all derivative financial instruments, regardless of designation. Net gains and losses recognized in earnings, including gains and losses related to hedge ineffectiveness, were not material to our results of operations for the three- and six-month periods ended July 5, 2015 , and June 29, 2014 . Net gains and losses reclassified to earnings from OCL were not material to our results of operations for the three- and six-month periods ended July 5, 2015 , and June 29, 2014 , and we do not expect the amount of these gains and losses that will be reclassified to earnings during the next 12 months to be material. We had no material derivative financial instruments designated as fair value or net investment hedges on July 5, 2015 , or December 31, 2014 . Interest Rate Risk. Our financial instruments subject to interest rate risk include fixed-rate long-term debt obligations and variable-rate commercial paper. However, the risk associated with these instruments is not material. Commodity Price Risk. We are subject to risk of rising labor and commodity prices, primarily on long-term fixed-price contracts. To the extent possible, we include terms in our contracts that are designed to protect us from this risk. Some of the protective terms included in our contracts are considered derivatives but are not accounted for separately because they are clearly and closely related to the host contract. We have not entered into any material commodity hedging contracts but may do so as circumstances warrant. We do not believe that changes in labor or commodity prices will have a material impact on our results of operations or cash flows. Investment Risk. Our investment policy allows for purchases of fixed-income securities with an investment-grade rating and a maximum maturity of up to five years . On July 5, 2015 , we held $4 billion in cash and equivalents, but held no marketable securities. Foreign Currency Financial Statement Translation. We translate foreign currency balance sheets from our international businesses' functional currency (generally the respective local currency) to U.S. dollars at the end-of-period exchange rates, and statements of earnings at the average exchange rates for each period. The resulting foreign currency translation adjustments are a component of OCL. We do not hedge the fluctuation in reported revenues and earnings resulting from the translation of these international operations' results into U.S. dollars. The impact of translating our non-U.S. operations’ revenues and earnings into U.S. dollars was not material to our results of operations for the three- and six-month periods ended July 5, 2015 , or June 29, 2014 . In addition, the effect of changes in foreign exchange rates on non-U.S. cash balances was not material in the first six months of either 2015 or 2014 .

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jul. 05, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES Litigation Various claims and other legal proceedings incidental to the normal course of business are pending or threatened against us. These matters relate to such issues as government investigations and claims, the protection of the environment, asbestos-related claims and employee-related matters. The nature of litigation is such that we cannot predict the outcome of these matters. However, based on information currently available, we believe any potential liabilities in these proceedings, individually or in the aggregate, will not have a material impact on our results of operations, financial condition or cash flows. Environmental We are subject to and affected by a variety of federal, state, local and foreign environmental laws and regulations. We are directly or indirectly involved in environmental investigations or remediation at some of our current and former facilities and third-party sites that we do not own but where we have been designated a Potentially Responsible Party (PRP) by the U.S. Environmental Protection Agency or a state environmental agency. Based on historical experience, we expect that a significant percentage of the total remediation and compliance costs associated with these facilities will continue to be allowable contract costs and, therefore, recoverable under U.S. government contracts. As required, we provide financial assurance for certain sites undergoing or subject to investigation or remediation. We accrue environmental costs when it is probable that a liability has been incurred and the amount can be reasonably estimated. Where applicable, we seek insurance recovery for costs related to environmental liabilities. We do not record insurance recoveries before collection is considered probable. Based on all known facts and analyses, we do not believe that our liability at any individual site, or in the aggregate, arising from such environmental conditions, will be material to our results of operations, financial condition or cash flows. We also do not believe that the range of reasonably possible additional loss beyond what has been recorded would be material to our results of operations, financial condition or cash flows. Other Government Contracts. As a government contractor, we are subject to U.S. government audits and investigations relating to our operations, including claims for fines, penalties, and compensatory and treble damages. We believe the outcome of such ongoing government audits and investigations will not have a material impact on our results of operations, financial condition or cash flows. In the performance of our contracts, we routinely request contract modifications that require additional funding from the customer. Most often, these requests are due to customer-directed changes in the scope of work. While we are entitled to recovery of these costs under our contracts, the administrative process with our customer may be protracted. Based upon the circumstances, we periodically file requests for equitable adjustment (REAs) that are sometimes converted into claims. In some cases, these requests are disputed by our customer. We believe our outstanding modifications, REAs and claims will be resolved without material impact to our results of operations, financial condition or cash flows. Letters of Credit and Guarantees. In the ordinary course of business, we have entered into letters of credit, bank guarantees, surety bonds and other similar arrangements with financial institutions and insurance carriers totaling approximately $975 on July 5, 2015 . In addition, from time to time and in the ordinary course of business, we contractually guarantee the payment or performance obligations of our subsidiaries arising under certain contracts. Aircraft Trade-ins. In connection with orders for new aircraft in funded contract backlog, our Aerospace group has outstanding options with some customers to trade in aircraft as partial consideration in their new-aircraft transaction. These trade-in commitments are structured to establish the fair market value of the trade-in aircraft at a date generally 120 or fewer days preceding delivery of the new aircraft to the customer. At that time, the customer is required to either exercise the option or allow its expiration. Any excess of the pre-established trade-in price above the fair market value at the time the new outfitted aircraft is delivered is treated as a reduction of revenue in the new-aircraft sales transaction. Product Warranties. We provide warranties to our customers associated with certain product sales. We record estimated warranty costs in the period in which the related products are delivered. The warranty liability recorded at each balance sheet date is generally based on the number of months of warranty coverage remaining for products delivered and the average historical monthly warranty payments. Warranty obligations incurred in connection with long-term production contracts are accounted for within the contract estimates at completion. Our other warranty obligations, primarily for business-jet aircraft, are included in other current and noncurrent liabilities on the Consolidated Balance Sheets. The changes in the carrying amount of warranty liabilities for the six-month periods ended July 5, 2015 , and June 29, 2014 , were as follows: Six Months Ended July 5, 2015 June 29, 2014 Beginning balance $ 428 $ 354 Warranty expense 68 62 Payments (58 ) (29 ) Ending balance $ 438 $ 387

Retirement Plans

Retirement Plans	6 Months Ended
	Jul. 05, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement Plans	RETIREMENT PLANS We provide defined-contribution benefits, as well as some remaining defined-benefit pension and other post-retirement benefits. Net periodic cost associated with our defined-benefit pension and other post-retirement benefit plans for the three- and six-month periods ended July 5, 2015 , and June 29, 2014 , consisted of the following: Pension Benefits Other Post-retirement Benefits Three Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Service cost $ 57 $ 48 $ 3 $ 3 Interest cost 133 133 11 13 Expected return on plan assets (174 ) (164 ) (8 ) (8 ) Recognized net actuarial loss 109 74 1 3 Amortization of prior service credit (17 ) (17 ) (1 ) (1 ) Net periodic cost $ 108 $ 74 $ 6 $ 10 Pension Benefits Other Post-retirement Benefits Six Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Service cost $ 114 $ 96 $ 6 $ 6 Interest cost 266 266 22 26 Expected return on plan assets (348 ) (328 ) (16 ) (16 ) Recognized net actuarial loss 219 148 3 5 Amortization of prior service credit (34 ) (34 ) (2 ) (1 ) Net periodic cost $ 217 $ 148 $ 13 $ 20 Our contractual arrangements with the U.S. government provide for the recovery of contributions to our pension and other post-retirement benefit plans covering employees working in our defense business groups. For non-funded plans, our government contracts allow us to recover claims paid. Following payment, these recoverable amounts are allocated to contracts and billed to the customer in accordance with the Cost Accounting Standards and specific contractual terms. For some of these plans, the cumulative pension and post-retirement benefit cost exceeds the amount currently allocable to contracts. To the extent recovery of the cost is considered probable based on our backlog and probable follow-on contracts, we defer the excess in contracts in process on the Consolidated Balance Sheets until the cost is allocable to contracts. See Note F for discussion of our deferred contract costs. For other plans, the amount allocated to contracts and included in revenues has exceeded the plans’ cumulative benefit cost. We have deferred recognition of these excess earnings to provide a better matching of revenues and expenses. These deferrals have been classified against the plan assets on the Consolidated Balance Sheets.

Business Group Information

Business Group Information	6 Months Ended
	Jul. 05, 2015
Segment Reporting [Abstract]
Business Group Information	BUSINESS GROUP INFORMATION We operate in four business groups: Aerospace, Combat Systems, Information Systems and Technology and Marine Systems. We organize our business groups in accordance with the nature of products and services offered. These business groups derive their revenues from business aviation; combat vehicles, weapons systems and munitions; communication and information technology systems and solutions; and military and commercial shipbuilding and services, respectively. We measure each group’s profitability based on operating earnings. As a result, we do not allocate net interest, other income and expense items, and income taxes to our business groups. Summary financial information for each of our business groups follows: Revenues Operating Earnings Three Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Aerospace $ 2,258 $ 1,995 $ 439 $ 384 Combat Systems 1,408 1,465 226 220 Information Systems and Technology 2,215 2,163 237 188 Marine Systems 2,001 1,851 187 174 Corporate* — — (8 ) (17 ) $ 7,882 $ 7,474 $ 1,081 $ 949 Revenues Operating Earnings Six Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Aerospace $ 4,366 $ 4,120 $ 870 $ 788 Combat Systems 2,771 2,723 430 359 Information Systems and Technology 4,585 4,444 454 371 Marine Systems 3,944 3,452 375 340 Corporate* — — (21 ) (35 ) $ 15,666 $ 14,739 $ 2,108 $ 1,823 *Corporate operating results consist primarily of stock option expense.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	6 Months Ended
	Jul. 05, 2015
Consolidating Financial Statements [Abstract]
Condensed Consolidating Financial Statements	CONDENSED CONSOLIDATING FINANCIAL STATEMENTS The fixed-rate notes described in Note H are fully and unconditionally guaranteed on an unsecured, joint and several basis by certain of our 100 -percent-owned subsidiaries (the guarantors). The following condensed consolidating financial statements illustrate the composition of the parent, the guarantors on a combined basis (each guarantor together with its majority-owned subsidiaries) and all other subsidiaries on a combined basis. CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (UNAUDITED) Three Months Ended July 5, 2015 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Revenues $ — $ 6,883 $ 999 $ — $ 7,882 Cost of sales (4 ) 5,574 764 — 6,334 G&A 12 381 74 — 467 Operating earnings (8 ) 928 161 — 1,081 Interest, net (20 ) (2 ) 2 — (20 ) Earnings before income tax (28 ) 926 163 — 1,061 Provision for income tax, net (16 ) 298 27 — 309 Equity in net earnings of subsidiaries 764 — — (764 ) — Net earnings $ 752 $ 628 $ 136 $ (764 ) $ 752 Comprehensive income $ 876 $ 631 $ 198 $ (829 ) $ 876 Three Months Ended June 29, 2014 Revenues $ — $ 6,437 $ 1,037 $ — $ 7,474 Cost of sales 3 5,231 805 — 6,039 G&A 14 401 71 — 486 Operating earnings (17 ) 805 161 — 949 Interest, net (25 ) — 1 — (24 ) Other, net (2 ) 4 (2 ) — — Earnings before income tax (44 ) 809 160 — 925 Provision for income tax, net (14 ) 270 23 — 279 Discontinued operations, net of tax (105 ) — — — (105 ) Equity in net earnings of subsidiaries 676 — — (676 ) — Net earnings $ 541 $ 539 $ 137 $ (676 ) $ 541 Comprehensive income $ 640 $ 540 $ 200 $ (740 ) $ 640 CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (UNAUDITED) Six Months Ended July 5, 2015 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Revenues $ — $ 13,651 $ 2,015 $ — $ 15,666 Cost of sales (3 ) 11,036 1,555 — 12,588 G&A 24 797 149 — 970 Operating earnings (21 ) 1,818 311 — 2,108 Interest, net (43 ) (1 ) 3 — (41 ) Other, net 1 2 — — 3 Earnings before income tax (63 ) 1,819 314 — 2,070 Provision for income tax, net (41 ) 588 55 — 602 Equity in net earnings of subsidiaries 1,490 — — (1,490 ) — Net earnings $ 1,468 $ 1,231 $ 259 $ (1,490 ) $ 1,468 Comprehensive income $ 1,308 $ 1,237 $ (26 ) $ (1,211 ) $ 1,308 Six Months Ended June 29, 2014 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Revenues $ — $ 12,830 $ 1,909 $ — $ 14,739 Cost of sales 9 10,429 1,501 — 11,939 G&A 28 769 180 — 977 Operating earnings (37 ) 1,632 228 — 1,823 Interest, net (47 ) — 1 — (46 ) Other, net (2 ) 4 (1 ) — 1 Earnings before income tax (86 ) 1,636 228 — 1,778 Provision for income tax, net (23 ) 520 39 — 536 Discontinued operations, net of tax (106 ) — — — (106 ) Equity in net earnings of subsidiaries 1,305 — — (1,305 ) — Net earnings $ 1,136 $ 1,116 $ 189 $ (1,305 ) $ 1,136 Comprehensive income $ 1,217 $ 1,111 $ 205 $ (1,316 ) $ 1,217 CONDENSED CONSOLIDATING BALANCE SHEETS (UNAUDITED) July 5, 2015 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated ASSETS Current assets: Cash and equivalents $ 2,296 $ — $ 1,736 $ — $ 4,032 Accounts receivable — 1,260 2,335 — 3,595 Contracts in process 534 2,703 1,036 — 4,273 Inventories Work in process — 1,980 12 — 1,992 Raw materials — 1,292 33 — 1,325 Finished goods — 15 8 — 23 Pre-owned aircraft — 19 — — 19 Other current assets 135 206 173 — 514 Total current assets 2,965 7,475 5,333 — 15,773 Noncurrent assets: Property, plant and equipment 150 6,186 1,105 — 7,441 Accumulated depreciation of PP&E (56 ) (3,367 ) (689 ) — (4,112 ) Intangible assets — 1,444 933 — 2,377 Accumulated amortization of intangible assets — (1,079 ) (457 ) — (1,536 ) Goodwill — 8,026 3,618 — 11,644 Other assets 1,586 239 242 — 2,067 Investment in subsidiaries 38,516 — — (38,516 ) — Total noncurrent assets 40,196 11,449 4,752 (38,516 ) 17,881 Total assets $ 43,161 $ 18,924 $ 10,085 $ (38,516 ) $ 33,654 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term debt $ — $ 2 $ — $ — $ 2 Customer advances and deposits — 3,222 2,882 — 6,104 Other current liabilities 1,407 3,499 1,696 — 6,602 Total current liabilities 1,407 6,723 4,578 — 12,708 Noncurrent liabilities: Long-term debt 3,387 24 — — 3,411 Other liabilities 3,414 2,353 492 — 6,259 Total noncurrent liabilities 6,801 2,377 492 — 9,670 Intercompany 23,677 (23,051 ) (626 ) — — Shareholders' equity: Common stock 482 6 2,043 (2,049 ) 482 Other shareholders' equity 10,794 32,869 3,598 (36,467 ) 10,794 Total shareholders' equity 11,276 32,875 5,641 (38,516 ) 11,276 Total liabilities and shareholders' equity $ 43,161 $ 18,924 $ 10,085 $ (38,516 ) $ 33,654 CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2014 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated ASSETS Current assets: Cash and equivalents $ 2,536 $ — $ 1,852 $ — $ 4,388 Accounts receivable — 1,379 2,671 — 4,050 Contracts in process 542 2,966 1,083 — 4,591 Inventories Work in process — 1,818 10 — 1,828 Raw materials — 1,260 30 — 1,290 Finished goods — 20 8 — 28 Pre-owned aircraft — 75 — — 75 Other current assets 781 215 161 — 1,157 Total current assets 3,859 7,733 5,815 — 17,407 Noncurrent assets: Property, plant and equipment 148 6,035 1,109 — 7,292 Accumulated depreciation of PP&E (52 ) (3,246 ) (665 ) — (3,963 ) Intangible assets — 1,484 914 — 2,398 Accumulated amortization of intangible assets — (1,042 ) (444 ) — (1,486 ) Goodwill — 8,095 3,636 — 11,731 Other assets 1,479 213 284 — 1,976 Investment in subsidiaries 37,449 — — (37,449 ) — Total noncurrent assets 39,024 11,539 4,834 (37,449 ) 17,948 Total assets $ 42,883 $ 19,272 $ 10,649 $ (37,449 ) $ 35,355 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term debt $ 500 $ 1 $ — $ — $ 501 Customer advances and deposits — 3,529 3,806 — 7,335 Other current liabilities 1,298 3,511 1,106 — 5,915 Total current liabilities 1,798 7,041 4,912 — 13,751 Noncurrent liabilities: Long-term debt 3,386 24 — — 3,410 Other liabilities 3,514 2,369 482 — 6,365 Total noncurrent liabilities 6,900 2,393 482 — 9,775 Intercompany 22,356 (22,557 ) 201 — — Shareholders' equity: Common stock 482 6 2,043 (2,049 ) 482 Other shareholders' equity 11,347 32,389 3,011 (35,400 ) 11,347 Total shareholders' equity 11,829 32,395 5,054 (37,449 ) 11,829 Total liabilities and shareholders' equity $ 42,883 $ 19,272 $ 10,649 $ (37,449 ) $ 35,355 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED) Six Months Ended July 5, 2015 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Net cash provided by operating activities* $ 18 $ 1,133 $ 197 $ — $ 1,348 Cash flows from investing activities: Maturities of held-to-maturity securities 500 — — — 500 Proceeds from sales of assets 162 97 — — 259 Capital expenditures (2 ) (180 ) (8 ) — (190 ) Other, net 2 (20 ) — — (18 ) Net cash provided by investing activities 662 (103 ) (8 ) — 551 Cash flows from financing activities: Purchases of common stock (1,565 ) — — — (1,565 ) Repayment of fixed-rate notes (500 ) — — — (500 ) Dividends paid (432 ) — — — (432 ) Proceeds from stock option exercises 198 — — — 198 Other, net 57 3 — — 60 Net cash used by financing activities (2,242 ) 3 — — (2,239 ) Net cash used by discontinued operations (16 ) — — — (16 ) Cash sweep/funding by parent 1,338 (1,033 ) (305 ) — — Net increase in cash and equivalents (240 ) — (116 ) — (356 ) Cash and equivalents at beginning of period 2,536 — 1,852 — 4,388 Cash and equivalents at end of period $ 2,296 $ — $ 1,736 $ — $ 4,032 Six Months Ended June 29, 2014 Net cash provided by operating activities* $ 187 $ 1,197 $ (90 ) $ — $ 1,294 Net cash used by investing activities 1 (132 ) (14 ) — (145 ) Cash flows from financing activities: Purchases of common stock (2,691 ) — — — (2,691 ) Proceeds from stock option exercises 415 — — — 415 Dividends paid (411 ) — — — (411 ) Other, net 54 — — — 54 Net cash used by financing activities (2,633 ) — — — (2,633 ) Net cash provided by discontinued operations 24 — — — 24 Cash sweep/funding by parent 1,124 (1,065 ) (59 ) — — Net decrease in cash and equivalents (1,297 ) — (163 ) — (1,460 ) Cash and equivalents at beginning of period 4,179 — 1,122 — 5,301 Cash and equivalents at end of period $ 2,882 $ — $ 959 $ — $ 3,841 * Continuing operations only

Summary Of Significant Accoun23

Summary Of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 05, 2015
Accounting Policies [Abstract]
Basis of Consolidation and Classification	Basis of Consolidation and Classification. The unaudited Consolidated Financial Statements include the accounts of General Dynamics Corporation and our wholly owned and majority-owned subsidiaries. We eliminate all inter-company balances and transactions in the unaudited Consolidated Financial Statements. Consistent with defense industry practice, we classify assets and liabilities related to long-term production contracts as current, even though some of these amounts may not be realized within one year.
Interim Financial Statements	Interim Financial Statements. The unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. These rules and regulations permit some of the information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) to be condensed or omitted. Our fiscal quarters are 13 weeks in length. Because our fiscal year ends on December 31, the number of days in our first and fourth quarters varies slightly from year to year. Operating results for the three- and six-month periods ended July 5, 2015 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . The unaudited Consolidated Financial Statements contain all adjustments that are of a normal recurring nature necessary for a fair presentation of our results of operations and financial condition for the three- and six-month periods ended July 5, 2015 , and June 29, 2014 . These unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014 .
Revenue Recognition	Revenue Recognition. We account for revenues and earnings using the percentage-of-completion method. Under this method, contract costs and revenues are recognized as the work progresses, either as the products are produced or as services are rendered. We estimate the profit on a contract as the difference between the total estimated revenue and expected costs to complete a contract and recognize that profit over the life of the contract. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the loss in the quarter it is identified. We review and update our contract-related estimates regularly. We recognize changes in estimated profit on contracts under the reallocation method. Under the reallocation method, the impact of a revision in estimate is recognized prospectively over the remaining contract term. The net increase in our operating earnings (and on a per-share basis) from the impact of revisions in contract estimates totaled favorable changes of $45 ( $0.09 ) and $108 ( $0.21 ) for the three- and six-month periods ended July 5, 2015 , and $62 ($0.12) and $100 ($0.19) for the three- and six-month periods ended June 29, 2014 , respectively. No revisions on any one contract were material to our unaudited Consolidated Financial Statements in the second quarter and first six months of 2015 or 2014. In the second quarter of 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers. ASU 2014-09 prescribes a single, common revenue standard that replaces most existing revenue recognition guidance in GAAP. The standard outlines a five-step model, whereby revenue is recognized as performance obligations within a contract are satisfied. The standard also requires new, expanded disclosures regarding revenue recognition. As written, ASU 2014-09 is effective in the first quarter of 2017 for public companies. However, in the second quarter of 2015, the FASB voted to approve a one-year deferral of the effective date of the standard, while permitting entities to elect to adopt one year earlier on the original effective date. The standard permits the use of either the retrospective or cumulative effect transition method. We have not yet selected a transition date or method nor have we determined the effect of the standard on our consolidated financial statements as the standard continues to undergo changes. The required adoption of the ASU will preclude our use of the reallocation method of recognizing revisions in estimated profit on contracts discussed above. As changes in estimated profit will be recognized in the period they are identified (cumulative catch-up method), rather than prospectively over the remaining contract term, we expect that the impact of revisions of contract estimates may be larger and potentially more variable from period to period. Anticipated losses on contracts will continue to be recognized in the quarter they are identified.
Discontinued Operations	Discontinued Operations. We completed the sale of our axle business in the Combat Systems group in January 2015. The 2014 financial statements have been restated to reflect the results of operations of this business in discontinued operations.
Subsequent Events	Subsequent Events. We have evaluated material events and transactions that have occurred after July 5, 2015 , and concluded that none have occurred that require adjustment to or disclosure in the unaudited Consolidated Financial Statements.

Acquisitions, Intangible Asse24

Acquisitions, Intangible Assets And Goodwill (Tables)	6 Months Ended
	Jul. 05, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Changes In The Carrying Amount Of Goodwill By Reporting Unit	The changes in the carrying amount of goodwill by reporting unit for the six months ended July 5, 2015 , were as follows: Aerospace Combat Systems Information Systems and Technology Marine Systems Total Goodwill December 31, 2014 (a) $ 2,555 $ 2,750 $ 6,137 $ 289 $ 11,731 Acquisitions/divestitures (b) — — (91 ) — (91 ) Other (c) 87 (67 ) (16 ) — 4 July 5, 2015 $ 2,642 $ 2,683 $ 6,030 $ 289 $ 11,644 (a) Goodwill on December 31, 2014, in the Information Systems and Technology reporting unit is net of $1,994 of accumulated impairment losses. (b) Includes adjustments during the purchase price allocation period for the acquisition discussed above and an allocation of goodwill associated with the sale of a commercial cybersecurity business in the second quarter of 2015 . (c) Consists primarily of adjustments for foreign currency translation
Intangible assets	Intangible assets consisted of the following: Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount July 5, 2015 December 31, 2014 Contract and program intangible assets* $ 1,628 $ (1,169 ) $ 459 $ 1,652 $ (1,123 ) $ 529 Trade names and trademarks 475 (118 ) 357 462 (113 ) 349 Technology and software 120 (95 ) 25 130 (97 ) 33 Other intangible assets 154 (154 ) — 154 (153 ) 1 Total intangible assets $ 2,377 $ (1,536 ) $ 841 $ 2,398 $ (1,486 ) $ 912 * Consists of acquired backlog and probable follow-on work and related customer relationships.

Earnings And Dividends Per Sh25

Earnings And Dividends Per Share (Tables)	6 Months Ended
	Jul. 05, 2015
Earnings Per Share [Abstract]
Basic and diluted weighted average shares outstanding	Basic and diluted weighted average shares outstanding were as follows (in thousands): Three Months Ended Six Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Basic weighted average shares outstanding 326,153 336,692 327,653 339,462 Dilutive effect of stock options and restricted stock/RSUs* 5,273 6,093 5,396 5,905 Diluted weighted average shares outstanding 331,426 342,785 333,049 345,367 * Excludes outstanding options to purchase shares of common stock because these options had exercise prices in excess of the average market price of our common stock during the period and therefore the effect of including these options would be antidilutive. These options totaled 2,091 and 1,387 for the three- and six-month periods ended July 5, 2015 , and 4,491 and 2,922 for the three- and six-month periods ended June 29, 2014 , respectively.

Fair Value Of Financial Instr26

Fair Value Of Financial Instruments (Tables)	6 Months Ended
	Jul. 05, 2015
Fair Value Disclosures [Abstract]
Carrying And Fair Values Of Other Financial Assets And Liabilities	The following tables present the fair values of our other financial assets and liabilities on July 5, 2015 , and December 31, 2014 , and the basis for determining their fair values: Carrying Value Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) (a) Financial assets (liabilities) (b) July 5, 2015 Available-for-sale securities $ 179 $ 179 $ 109 $ 70 Derivatives (638 ) (638 ) — (638 ) Long-term debt, including current portion (3,413 ) (3,357 ) — (3,357 ) December 31, 2014 Held-to-maturity marketable securities (c) $ 500 $ 500 $ 10 $ 490 Available-for-sale securities 188 188 123 65 Derivatives (276 ) (276 ) — (276 ) Long-term debt, including current portion (3,911 ) (3,911 ) — (3,911 ) (a) Determined under a market approach using valuation models that incorporate observable inputs such as interest rates, bond yields and quoted prices for similar assets and liabilities. (b) We had no Level 3 financial instruments on July 5, 2015 , or December 31, 2014 . (c) Included in other current assets on the December 31, 2014 , Consolidated Balance Sheet.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jul. 05, 2015
Income Tax Disclosure [Abstract]
Deferred Tax Assets and Liabilities	Net Deferred Tax Asset. Our net deferred tax asset was included on the Consolidated Balance Sheets in other assets and liabilities as follows: July 5, 2015 December 31, 2014 Current deferred tax asset $ 17 $ 16 Current deferred tax liability (771 ) (729 ) Noncurrent deferred tax asset 1,524 1,439 Noncurrent deferred tax liability (89 ) (82 ) Net deferred tax asset $ 681 $ 644

Contracts In Process (Tables)

Contracts In Process (Tables)	6 Months Ended
	Jul. 05, 2015
Contractors [Abstract]
Schedule Of Contracts In Process	Contracts in process represent recoverable costs and, where applicable, accrued profit related to long-term contracts that have been inventoried until the customer is billed, and consisted of the following: July 5, 2015 December 31, 2014 Contract costs and estimated profits $ 7,505 $ 7,494 Other contract costs 1,040 1,064 8,545 8,558 Advances and progress payments (4,272 ) (3,967 ) Total contracts in process $ 4,273 $ 4,591

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 05, 2015
Inventory Disclosure [Abstract]
Schedule Of Inventories	Inventories consisted of the following: July 5, 2015 December 31, 2014 Work in process $ 1,992 $ 1,828 Raw materials 1,325 1,290 Finished goods 23 28 Pre-owned aircraft 19 75 Total inventories $ 3,359 $ 3,221

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 05, 2015
Debt Disclosure [Abstract]
Schedule Of Debt	Debt consisted of the following: July 5, 2015 December 31, 2014 Fixed-rate notes due: Interest Rate January 2015 1.375% $ — $ 500 July 2016 2.250% 500 500 November 2017 1.000% 897 897 July 2021 3.875% 500 499 November 2022 2.250% 993 992 November 2042 3.600% 498 498 Other Various 25 25 Total debt 3,413 3,911 Less current portion 2 501 Long-term debt $ 3,411 $ 3,410

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jul. 05, 2015
Other Liabilities Disclosure [Abstract]
Summary Of Significant Other Liabilities By Balance Sheet Caption	A summary of significant other liabilities by balance sheet caption follows: July 5, 2015 December 31, 2014 Deferred income taxes $ 771 $ 729 Fair value of cash flow hedges 700 292 Salaries and wages 645 718 Workers' compensation 398 420 Retirement benefits 306 309 Other (a) 1,507 1,390 Total other current liabilities $ 4,327 $ 3,858 Retirement benefits $ 4,537 $ 4,596 Customer deposits on commercial contracts 580 617 Deferred income taxes 89 82 Other (b) 1,053 1,070 Total other liabilities $ 6,259 $ 6,365 (a) Consists primarily of dividends payable, taxes payable, environmental remediation reserves, warranty reserves, liabilities of discontinued operations and insurance-related costs. (b) Consists primarily of liabilities for warranty reserves and workers' compensation and liabilities of discontinued operations.

Shareholders' Equity Sharehol32

Shareholders' Equity Shareholders' Equity (Tables)	6 Months Ended
	Jul. 05, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes, pretax and net of tax, in each component of AOCL consisted of the following: Losses on Cash Flow Hedges Unrealized Gains on Securities Foreign Currency Translation Adjustments Changes in Retirement Plans’ Funded Status AOCL Balance, December 31, 2014 $ (173 ) $ 22 $ 541 $ (3,322 ) $ (2,932 ) Other comprehensive loss, pretax (384 ) — (35 ) 188 (231 ) Benefit for income tax, net (135 ) 1 (3 ) 66 (71 ) Other comprehensive loss, net of tax (249 ) (1 ) (32 ) 122 (160 ) Balance, July 5, 2015 $ (422 ) $ 21 $ 509 $ (3,200 ) $ (3,092 ) Gains on Cash Flow Hedges Unrealized Gains on Securities Foreign Currency Translation Adjustments Changes in Retirement Plans’ Funded Status AOCL Balance, December 31, 2013 $ 9 $ 15 $ 974 $ (2,183 ) $ (1,185 ) Other comprehensive income, pretax (9 ) 6 9 116 122 Provision for income tax, net (3 ) 2 1 41 41 Other comprehensive income, net of tax (6 ) 4 8 75 81 Balance, June 29, 2014 $ 3 $ 19 $ 982 $ (2,108 ) $ (1,104 )

Commitments And Contingencies (

Commitments And Contingencies (Tables)	6 Months Ended
	Jul. 05, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule Of Changes In Carrying Amount Of Warranty Liabilities	The changes in the carrying amount of warranty liabilities for the six-month periods ended July 5, 2015 , and June 29, 2014 , were as follows: Six Months Ended July 5, 2015 June 29, 2014 Beginning balance $ 428 $ 354 Warranty expense 68 62 Payments (58 ) (29 ) Ending balance $ 438 $ 387

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jul. 05, 2015
Compensation and Retirement Disclosure [Abstract]
Net Periodic Cost Associated With Defined-Benefit Pension And Other Post-Retirement Benefit Plans	Net periodic cost associated with our defined-benefit pension and other post-retirement benefit plans for the three- and six-month periods ended July 5, 2015 , and June 29, 2014 , consisted of the following: Pension Benefits Other Post-retirement Benefits Three Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Service cost $ 57 $ 48 $ 3 $ 3 Interest cost 133 133 11 13 Expected return on plan assets (174 ) (164 ) (8 ) (8 ) Recognized net actuarial loss 109 74 1 3 Amortization of prior service credit (17 ) (17 ) (1 ) (1 ) Net periodic cost $ 108 $ 74 $ 6 $ 10 Pension Benefits Other Post-retirement Benefits Six Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Service cost $ 114 $ 96 $ 6 $ 6 Interest cost 266 266 22 26 Expected return on plan assets (348 ) (328 ) (16 ) (16 ) Recognized net actuarial loss 219 148 3 5 Amortization of prior service credit (34 ) (34 ) (2 ) (1 ) Net periodic cost $ 217 $ 148 $ 13 $ 20

Business Group Information (Tab

Business Group Information (Tables)	6 Months Ended
	Jul. 05, 2015
Segment Reporting [Abstract]
Summary Of Financial Information For Each Of Our Business Groups	Summary financial information for each of our business groups follows: Revenues Operating Earnings Three Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Aerospace $ 2,258 $ 1,995 $ 439 $ 384 Combat Systems 1,408 1,465 226 220 Information Systems and Technology 2,215 2,163 237 188 Marine Systems 2,001 1,851 187 174 Corporate* — — (8 ) (17 ) $ 7,882 $ 7,474 $ 1,081 $ 949 Revenues Operating Earnings Six Months Ended July 5, 2015 June 29, 2014 July 5, 2015 June 29, 2014 Aerospace $ 4,366 $ 4,120 $ 870 $ 788 Combat Systems 2,771 2,723 430 359 Information Systems and Technology 4,585 4,444 454 371 Marine Systems 3,944 3,452 375 340 Corporate* — — (21 ) (35 ) $ 15,666 $ 14,739 $ 2,108 $ 1,823 *Corporate operating results consist primarily of stock option expense.

Condensed Consolidating Finan36

Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jul. 05, 2015
Consolidating Financial Statements [Abstract]
Condensed Consolidating Statements of Earnings (Unaudited)	CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (UNAUDITED) Three Months Ended July 5, 2015 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Revenues $ — $ 6,883 $ 999 $ — $ 7,882 Cost of sales (4 ) 5,574 764 — 6,334 G&A 12 381 74 — 467 Operating earnings (8 ) 928 161 — 1,081 Interest, net (20 ) (2 ) 2 — (20 ) Earnings before income tax (28 ) 926 163 — 1,061 Provision for income tax, net (16 ) 298 27 — 309 Equity in net earnings of subsidiaries 764 — — (764 ) — Net earnings $ 752 $ 628 $ 136 $ (764 ) $ 752 Comprehensive income $ 876 $ 631 $ 198 $ (829 ) $ 876 Three Months Ended June 29, 2014 Revenues $ — $ 6,437 $ 1,037 $ — $ 7,474 Cost of sales 3 5,231 805 — 6,039 G&A 14 401 71 — 486 Operating earnings (17 ) 805 161 — 949 Interest, net (25 ) — 1 — (24 ) Other, net (2 ) 4 (2 ) — — Earnings before income tax (44 ) 809 160 — 925 Provision for income tax, net (14 ) 270 23 — 279 Discontinued operations, net of tax (105 ) — — — (105 ) Equity in net earnings of subsidiaries 676 — — (676 ) — Net earnings $ 541 $ 539 $ 137 $ (676 ) $ 541 Comprehensive income $ 640 $ 540 $ 200 $ (740 ) $ 640 CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (UNAUDITED) Six Months Ended July 5, 2015 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Revenues $ — $ 13,651 $ 2,015 $ — $ 15,666 Cost of sales (3 ) 11,036 1,555 — 12,588 G&A 24 797 149 — 970 Operating earnings (21 ) 1,818 311 — 2,108 Interest, net (43 ) (1 ) 3 — (41 ) Other, net 1 2 — — 3 Earnings before income tax (63 ) 1,819 314 — 2,070 Provision for income tax, net (41 ) 588 55 — 602 Equity in net earnings of subsidiaries 1,490 — — (1,490 ) — Net earnings $ 1,468 $ 1,231 $ 259 $ (1,490 ) $ 1,468 Comprehensive income $ 1,308 $ 1,237 $ (26 ) $ (1,211 ) $ 1,308 Six Months Ended June 29, 2014 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Revenues $ — $ 12,830 $ 1,909 $ — $ 14,739 Cost of sales 9 10,429 1,501 — 11,939 G&A 28 769 180 — 977 Operating earnings (37 ) 1,632 228 — 1,823 Interest, net (47 ) — 1 — (46 ) Other, net (2 ) 4 (1 ) — 1 Earnings before income tax (86 ) 1,636 228 — 1,778 Provision for income tax, net (23 ) 520 39 — 536 Discontinued operations, net of tax (106 ) — — — (106 ) Equity in net earnings of subsidiaries 1,305 — — (1,305 ) — Net earnings $ 1,136 $ 1,116 $ 189 $ (1,305 ) $ 1,136 Comprehensive income $ 1,217 $ 1,111 $ 205 $ (1,316 ) $ 1,217
Condensed Consolidating Balance Sheet	July 5, 2015 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated ASSETS Current assets: Cash and equivalents $ 2,296 $ — $ 1,736 $ — $ 4,032 Accounts receivable — 1,260 2,335 — 3,595 Contracts in process 534 2,703 1,036 — 4,273 Inventories Work in process — 1,980 12 — 1,992 Raw materials — 1,292 33 — 1,325 Finished goods — 15 8 — 23 Pre-owned aircraft — 19 — — 19 Other current assets 135 206 173 — 514 Total current assets 2,965 7,475 5,333 — 15,773 Noncurrent assets: Property, plant and equipment 150 6,186 1,105 — 7,441 Accumulated depreciation of PP&E (56 ) (3,367 ) (689 ) — (4,112 ) Intangible assets — 1,444 933 — 2,377 Accumulated amortization of intangible assets — (1,079 ) (457 ) — (1,536 ) Goodwill — 8,026 3,618 — 11,644 Other assets 1,586 239 242 — 2,067 Investment in subsidiaries 38,516 — — (38,516 ) — Total noncurrent assets 40,196 11,449 4,752 (38,516 ) 17,881 Total assets $ 43,161 $ 18,924 $ 10,085 $ (38,516 ) $ 33,654 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term debt $ — $ 2 $ — $ — $ 2 Customer advances and deposits — 3,222 2,882 — 6,104 Other current liabilities 1,407 3,499 1,696 — 6,602 Total current liabilities 1,407 6,723 4,578 — 12,708 Noncurrent liabilities: Long-term debt 3,387 24 — — 3,411 Other liabilities 3,414 2,353 492 — 6,259 Total noncurrent liabilities 6,801 2,377 492 — 9,670 Intercompany 23,677 (23,051 ) (626 ) — — Shareholders' equity: Common stock 482 6 2,043 (2,049 ) 482 Other shareholders' equity 10,794 32,869 3,598 (36,467 ) 10,794 Total shareholders' equity 11,276 32,875 5,641 (38,516 ) 11,276 Total liabilities and shareholders' equity $ 43,161 $ 18,924 $ 10,085 $ (38,516 ) $ 33,654 December 31, 2014 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated ASSETS Current assets: Cash and equivalents $ 2,536 $ — $ 1,852 $ — $ 4,388 Accounts receivable — 1,379 2,671 — 4,050 Contracts in process 542 2,966 1,083 — 4,591 Inventories Work in process — 1,818 10 — 1,828 Raw materials — 1,260 30 — 1,290 Finished goods — 20 8 — 28 Pre-owned aircraft — 75 — — 75 Other current assets 781 215 161 — 1,157 Total current assets 3,859 7,733 5,815 — 17,407 Noncurrent assets: Property, plant and equipment 148 6,035 1,109 — 7,292 Accumulated depreciation of PP&E (52 ) (3,246 ) (665 ) — (3,963 ) Intangible assets — 1,484 914 — 2,398 Accumulated amortization of intangible assets — (1,042 ) (444 ) — (1,486 ) Goodwill — 8,095 3,636 — 11,731 Other assets 1,479 213 284 — 1,976 Investment in subsidiaries 37,449 — — (37,449 ) — Total noncurrent assets 39,024 11,539 4,834 (37,449 ) 17,948 Total assets $ 42,883 $ 19,272 $ 10,649 $ (37,449 ) $ 35,355 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term debt $ 500 $ 1 $ — $ — $ 501 Customer advances and deposits — 3,529 3,806 — 7,335 Other current liabilities 1,298 3,511 1,106 — 5,915 Total current liabilities 1,798 7,041 4,912 — 13,751 Noncurrent liabilities: Long-term debt 3,386 24 — — 3,410 Other liabilities 3,514 2,369 482 — 6,365 Total noncurrent liabilities 6,900 2,393 482 — 9,775 Intercompany 22,356 (22,557 ) 201 — — Shareholders' equity: Common stock 482 6 2,043 (2,049 ) 482 Other shareholders' equity 11,347 32,389 3,011 (35,400 ) 11,347 Total shareholders' equity 11,829 32,395 5,054 (37,449 ) 11,829 Total liabilities and shareholders' equity $ 42,883 $ 19,272 $ 10,649 $ (37,449 ) $ 35,355
Condensed Consolidating Statements of Cash Flows (Unaudited)	Six Months Ended July 5, 2015 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Net cash provided by operating activities* $ 18 $ 1,133 $ 197 $ — $ 1,348 Cash flows from investing activities: Maturities of held-to-maturity securities 500 — — — 500 Proceeds from sales of assets 162 97 — — 259 Capital expenditures (2 ) (180 ) (8 ) — (190 ) Other, net 2 (20 ) — — (18 ) Net cash provided by investing activities 662 (103 ) (8 ) — 551 Cash flows from financing activities: Purchases of common stock (1,565 ) — — — (1,565 ) Repayment of fixed-rate notes (500 ) — — — (500 ) Dividends paid (432 ) — — — (432 ) Proceeds from stock option exercises 198 — — — 198 Other, net 57 3 — — 60 Net cash used by financing activities (2,242 ) 3 — — (2,239 ) Net cash used by discontinued operations (16 ) — — — (16 ) Cash sweep/funding by parent 1,338 (1,033 ) (305 ) — — Net increase in cash and equivalents (240 ) — (116 ) — (356 ) Cash and equivalents at beginning of period 2,536 — 1,852 — 4,388 Cash and equivalents at end of period $ 2,296 $ — $ 1,736 $ — $ 4,032 Six Months Ended June 29, 2014 Net cash provided by operating activities* $ 187 $ 1,197 $ (90 ) $ — $ 1,294 Net cash used by investing activities 1 (132 ) (14 ) — (145 ) Cash flows from financing activities: Purchases of common stock (2,691 ) — — — (2,691 ) Proceeds from stock option exercises 415 — — — 415 Dividends paid (411 ) — — — (411 ) Other, net 54 — — — 54 Net cash used by financing activities (2,633 ) — — — (2,633 ) Net cash provided by discontinued operations 24 — — — 24 Cash sweep/funding by parent 1,124 (1,065 ) (59 ) — — Net decrease in cash and equivalents (1,297 ) — (163 ) — (1,460 ) Cash and equivalents at beginning of period 4,179 — 1,122 — 5,301 Cash and equivalents at end of period $ 2,882 $ — $ 959 $ — $ 3,841

Summary Of Significant Accoun37

Summary Of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Accounting Policies [Abstract]
Length of fiscal quarters, weeks			91 days
Net increase in operating earnings from the quarterly impact of revisions in contract	$ 45	$ 62	$ 108	$ 100
Net increase in operating earnings per share from the quarterly impact of revisions in contract	$ 0.09	$ 0.12	$ 0.21	$ 0.19

Acquisitions, Intangible Asse38

Acquisitions, Intangible Assets And Goodwill - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 05, 2015USD ($)	Jun. 29, 2014USD ($)	Jul. 05, 2015USD ($)	Jun. 29, 2014USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Number of Businesses Acquired			0
Amortization expense	$ 29	$ 31	$ 59	$ 61
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 117		$ 117

Intangible Assets (Detail)

Intangible Assets (Detail) - USD ($) $ in Millions		Jul. 05, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 2,377	$ 2,398
Accumulated Amortization		(1,536)	(1,486)
Net Carrying Amount		841	912
Contract and Program Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	[1]	1,628	1,652
Accumulated Amortization	[1]	(1,169)	(1,123)
Net Carrying Amount	[1]	459	529
Tradenames and Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		475	462
Accumulated Amortization		(118)	(113)
Net Carrying Amount		357	349
Technology and Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		120	130
Accumulated Amortization		(95)	(97)
Net Carrying Amount		25	33
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		154	154
Accumulated Amortization		(154)	(153)
Net Carrying Amount		$ 0	$ 1
[1]	Consists of acquired backlog and probable follow-on work and related customer relationships.

Changes In Amount Of Goodwill (

Changes In Amount Of Goodwill (Detail) - USD ($) $ in Millions		6 Months Ended
		Jul. 05, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	$ 11,731
Acquisitions/business sales	[2]	(91)
Other	[3]	4
Goodwill, end of period		11,644
Aerospace
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	2,555
Acquisitions/business sales	[2]	0
Other	[3]	87
Goodwill, end of period		2,642
Combat Systems
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	2,750
Acquisitions/business sales	[2]	0
Other	[3]	(67)
Goodwill, end of period		2,683
Marine Systems
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	289
Acquisitions/business sales	[2]	0
Other	[3]	0
Goodwill, end of period		289
Information Systems and Technology
Goodwill [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss			$ 1,994
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	6,137
Acquisitions/business sales	[2]	(91)
Other	[3]	(16)
Goodwill, end of period		$ 6,030
[1]	Goodwill on December 31, 2014, in the Information Systems and Technology reporting unit is net of $1,994 of accumulated impairment losses.
[2]	Includes adjustments during the purchase price allocation period for the acquisition discussed above and an allocation of goodwill associated with the sale of a commercial cybersecurity business in the second quarter of 2015.
[3]	Consists primarily of adjustments for foreign currency translation

Earning Per Share (Detail)

Earning Per Share (Detail) - shares shares in Thousands		3 Months Ended		6 Months Ended
		Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Earnings Per Share [Abstract]
Basic weighted average shares outstanding		326,153	336,692	327,653	339,462
Dilutive effect of other securities	[1]	5,273	6,093	5,396	5,905
Diluted weighted average shares outstanding		331,426	342,785	333,049	345,367
[1]	Excludes outstanding options to purchase shares of common stock because these options had exercise prices in excess of the average market price of our common stock during the period and therefore the effect of including these options would be antidilutive. These options totaled 2,091 and 1,387 for the three- and six-month periods ended July 5, 2015, and 4,491 and 2,922 for the three- and six-month periods ended June 29, 2014, respectively.

Earnings And Dividends Per Sh42

Earnings And Dividends Per Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Stock Options and Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,091	4,491	1,387	2,922

Fair Value Of Assets And Liabil

Fair Value Of Assets And Liabilities (Detail) - USD ($) $ in Millions		Jul. 05, 2015		Dec. 31, 2014
Financial assets (liabilities)
Long-term debt, including current portion		$ (3,413)		$ (3,911)
Fair Value, Inputs, Level 1
Financial assets (liabilities)
Available-for-sale Securities		109	[1]	123	[2]
Derivatives		0	[1]	0	[2]
Long-term debt, including current portion		0	[1]	0	[2]
Held-to-maturity Securities, Fair Value	[2]			10
Fair Value, Inputs, Level 2
Financial assets (liabilities)
Available-for-sale Securities	[3]	70	[1]	65	[2]
Derivatives	[3]	(638)	[1]	(276)	[2]
Long-term debt, including current portion	[3]	(3,357)	[1]	(3,911)	[2]
Held-to-maturity Securities, Fair Value	[2],[3]			490
Carrying (Reported) Amount, Fair Value Disclosure
Financial assets (liabilities)
Available-for-sale Securities		179	[1]	188	[2]
Derivatives		(638)	[1]	(276)	[2]
Long-term debt, including current portion		(3,413)	[1]	(3,911)	[2]
Held-to-maturity Securities, Fair Value	[2]			500
Estimate of Fair Value, Fair Value Disclosure
Financial assets (liabilities)
Available-for-sale Securities		179	[1]	188	[2]
Derivatives		(638)	[1]	(276)	[2]
Long-term debt, including current portion		$ (3,357)	[1]	(3,911)	[2]
Held-to-maturity Securities, Fair Value	[2]			$ 500
[1]	We had no Level 3 financial instruments on July 5, 2015, or December 31, 2014.
[2]	Included in other current assets on the December 31, 2014, Consolidated Balance Sheet.
[3]	Determined under a market approach using valuation models that incorporate observable inputs such as interest rates, bond yields and quoted prices for similar assets and liabilities.

Deferred Tax (Detail)

Deferred Tax (Detail) - USD ($) $ in Millions	Jul. 05, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Current deferred tax asset	$ 17	$ 16
Current deferred tax liability	(771)	(729)
Noncurrent deferred tax asset	1,524	1,439
Noncurrent deferred tax liability	(89)	(82)
Net deferred tax asset	$ 681	$ 644

Income Tax - Additional Informa

Income Tax - Additional Information (Detail) - Jul. 05, 2015 - USD ($)	Total
Income Tax Disclosure [Abstract]
Possible chance of tax position sustained, percentage	50.00%
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0

Cost Of Contracts (Detail)

Cost Of Contracts (Detail) - USD ($) $ in Millions	Jul. 05, 2015	Dec. 31, 2014
Contractors [Abstract]
Contract costs and estimated profits	$ 7,505	$ 7,494
Other contract costs	1,040	1,064
Costs in excess of billings on uncompleted contracts or programs, total	8,545	8,558
Advances and progress payments	(4,272)	(3,967)
Total contracts in process	$ 4,273	$ 4,591

Inventory (Detail)

Inventory (Detail) - USD ($) $ in Millions	Jul. 05, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Work in process	$ 1,992	$ 1,828
Raw materials	1,325	1,290
Finished goods	23	28
Pre-owned aircraft	19	75
Total inventories	$ 3,359	$ 3,221

Debt (Detail)

Debt (Detail) - USD ($) $ in Millions	6 Months Ended
	Jul. 05, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Commercial Paper	$ 0
Total debt	3,413	$ 3,911
Debt, Current	2	501
Long-term debt	3,411	3,410
Fixed-Rate Notes Due January 2015
Debt Instrument [Line Items]
Total debt	$ 0	500
Interest Rate	1.375%
Fixed-Rate Notes Due July 2016
Debt Instrument [Line Items]
Total debt	$ 500	500
Interest Rate	2.25%
Fixed Rate Notes Due November 2017
Debt Instrument [Line Items]
Total debt	$ 897	897
Interest Rate	1.00%
Fixed-Rate Notes Due July 2021
Debt Instrument [Line Items]
Total debt	$ 500	499
Interest Rate	3.875%
Fixed Rate Notes Due November 2022
Debt Instrument [Line Items]
Total debt	$ 993	992
Interest Rate	2.25%
Fixed Rate Notes Due November 2042
Debt Instrument [Line Items]
Total debt	$ 498	498
Interest Rate	3.60%
Other Debt Securities
Debt Instrument [Line Items]
Other	Various
Total debt	$ 25	$ 25

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014
Debt Outstanding [Line Items]
Percentage of owned subsidiaries guaranteed	100.00%
Repayments of Long-term Debt	$ 500	$ 0
European Businesses [Member]
Debt Outstanding [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 230
Commercial Paper
Debt Outstanding [Line Items]
Percentage of owned subsidiaries guaranteed	100.00%
Line of Credit Facility, Remaining Borrowing Capacity	$ 2,000
Commercial Paper | Multi-Year Facility Expiring July 2018
Debt Outstanding [Line Items]
Line of credit facility, expiration date	2018-07
Line of Credit Facility, Remaining Borrowing Capacity	$ 1,000
Commercial Paper | Multi-Year Facility, Expiring July 2016
Debt Outstanding [Line Items]
Line of credit facility, expiration date	2016-07
Line of Credit Facility, Remaining Borrowing Capacity	$ 1,000

Liabilities Balance (Detail)

Liabilities Balance (Detail) - USD ($) $ in Millions		Jul. 05, 2015	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Deferred income taxes		$ 771	$ 729
Fair value of cash flow hedges		700	292
Salaries and wages		645	718
Workers' compensation		398	420
Retirement benefits		306	309
Other	[1]	1,507	1,390
Total other current liabilities		4,327	3,858
Retirement benefits		4,537	4,596
Customer deposits on commercial contracts		580	617
Deferred income taxes		89	82
Other	[2]	1,053	1,070
Total other liabilities		$ 6,259	$ 6,365
[1]	Consists primarily of dividends payable, taxes payable, environmental remediation reserves, warranty reserves, liabilities of discontinued operations and insurance-related costs.
[2]	Consists primarily of liabilities for warranty reserves and workers' compensation and liabilities of discontinued operations.

Shareholders' Equity Sharehol51

Shareholders' Equity Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Oct. 04, 2015	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014	Dec. 31, 2014	Jun. 04, 2015	Feb. 09, 2015
Class of Stock [Line Items]
Stock Repurchased During Period, Shares				12.1	25	29
Stock Repurchased During Period, Value				$ 1,700	$ 2,700	$ 3,400
Stock Repurchase Program, Number of Shares Authorized to be Repurchased							10	10
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased		10.3		10.3
Stock Repurchase Program, Authorized Shares Remaining for Repurchase, Percentage Of Total Shares Outstanding		3.00%		3.00%
Recognized net actuarial loss (before tax)				$ 222	153
Amortization of prior service credit (before tax)				$ (36)	$ 35
Common Stock, Dividends, Per Share, Declared		$ 0.69	$ 0.62	$ 1.38	$ 1.24
Dividends paid in cash		$ 226	$ 213	$ 432	$ 411
Subsequent Event [Member]
Class of Stock [Line Items]
Stock Repurchased During Period, Value	$ 128

Shareholders' Equity - Changes

Shareholders' Equity - Changes in AOCI (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	$ (2,932)	$ (1,185)
Other comprehensive income (loss) before tax	(231)	122
Provision (benefit) for income tax, net	(71)	41
Other comprehensive income (loss) net of tax	(160)	81
Balance	(3,092)	(1,104)
Gains (Losses) on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(173)	9
Other comprehensive income (loss) before tax	(384)	(9)
Provision (benefit) for income tax, net	(135)	(3)
Other comprehensive income (loss) net of tax	(249)	(6)
Balance	(422)	3
Unrealized Gains on Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	22	15
Other comprehensive income (loss) before tax	0	6
Provision (benefit) for income tax, net	1	2
Other comprehensive income (loss) net of tax	(1)	4
Balance	21	19
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	541	974
Other comprehensive income (loss) before tax	(35)	9
Provision (benefit) for income tax, net	(3)	1
Other comprehensive income (loss) net of tax	(32)	8
Balance	509	982
Changes in Retirement Plans’ Funded Status
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(3,322)	(2,183)
Other comprehensive income (loss) before tax	188	116
Provision (benefit) for income tax, net	66	41
Other comprehensive income (loss) net of tax	122	75
Balance	$ (3,200)	$ (2,108)

Derivative Instruments And He53

Derivative Instruments And Hedging Activity - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jul. 05, 2015	Dec. 31, 2014	Jun. 29, 2014	Dec. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Fair Value Hedges, Net	$ 0	$ 0
Average maturity of foreign currency forward contracts, in years	2 years
Cash and equivalents	$ 4,032	4,388	$ 3,841	$ 5,301
Notional forward foreign exchange contracts outstanding	8,900	9,100
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value, Net	$ 0	$ 0
Maximum
Derivative Instruments, Gain (Loss) [Line Items]
Maturity of fixed-income securities, in years	5 years

Commitments and Contingency - A

Commitments and Contingency - Additional Information (Detail) - Jul. 05, 2015 - USD ($) $ in Millions	Total
Commitments and Contingencies [Line Items]
Letters of credit and guarantees	$ 975
Maximum
Commitments and Contingencies [Line Items]
Period preceding delivery of aircraft to customer fair market value of trade-in aircraft is established, days, maximum	120 days

Product Guarantee (Detail)

Product Guarantee (Detail) - USD ($) $ in Millions	6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 428	$ 354
Warranty expense	68	62
Payments	(58)	(29)
Ending balance	$ 438	$ 387

Benefits Plans (Detail)

Benefits Plans (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 57	$ 48	$ 114	$ 96
Interest cost	133	133	266	266
Expected return on plan assets	(174)	(164)	(348)	(328)
Recognized net actuarial loss	109	74	219	148
Amortization of prior service (credit) cost	(17)	(17)	(34)	(34)
Net periodic cost	108	74	217	148
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3	6	6
Interest cost	11	13	22	26
Expected return on plan assets	(8)	(8)	(16)	(16)
Recognized net actuarial loss	1	3	3	5
Amortization of prior service (credit) cost	(1)	(1)	(2)	(1)
Net periodic cost	$ 6	$ 10	$ 13	$ 20

Business Group Information - Ad

Business Group Information - Additional Information (Detail)	6 Months Ended
	Jul. 05, 2015Segment
Disclosure Business Group Information Additional Information [Abstract]
Number of operating business groups	4

Segment Reporting Information (

Segment Reporting Information (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Segment Reporting Information [Line Items]
Revenues		$ 7,882	$ 7,474	$ 15,666	$ 14,739
Operating Earnings		1,081	949	2,108	1,823
Aerospace
Segment Reporting Information [Line Items]
Revenues		2,258	1,995	4,366	4,120
Operating Earnings		439	384	870	788
Combat Systems
Segment Reporting Information [Line Items]
Revenues		1,408	1,465	2,771	2,723
Operating Earnings		226	220	430	359
Marine Systems
Segment Reporting Information [Line Items]
Revenues		2,001	1,851	3,944	3,452
Operating Earnings		187	174	375	340
Information Systems and Technology
Segment Reporting Information [Line Items]
Revenues		2,215	2,163	4,585	4,444
Operating Earnings		237	188	454	371
Corporate
Segment Reporting Information [Line Items]
Revenues	[1]	0	0	0	0
Operating Earnings	[1]	$ (8)	$ (17)	$ (21)	$ (35)
[1]	*Corporate operating results consist primarily of stock option expense.

Condensed Consolidating Finan59

Condensed Consolidating Financial Statements Narrative (Details)	6 Months Ended
	Jul. 05, 2015
Consolidating Financial Statements [Abstract]
Percentage of owned subsidiaries (the guarantors)	100.00%

Condensed Consolidating Stateme

Condensed Consolidating Statements Of Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Condensed Consolidating Financial Information [Line Items]
Revenues	$ 7,882	$ 7,474	$ 15,666	$ 14,739
Cost of sales	6,334	6,039	12,588	11,939
G&A	467	486	970	977
Operating earnings	1,081	949	2,108	1,823
Interest, net	(20)	(24)	(41)	(46)
Other, net		0	3	1
Earnings before income taxes	1,061	925	2,070	1,778
Provision for income tax, net	309	279	602	536
Discontinued operations, net of tax	0	(105)	0	(106)
Equity in net earnings of subsidiaries	0	0	0	0
Net earnings	752	541	1,468	1,136
Comprehensive income	876	640	1,308	1,217
Parent Company [Member]
Condensed Consolidating Financial Information [Line Items]
Revenues	0	0	0	0
Cost of sales	(4)	3	(3)	9
G&A	12	14	24	28
Operating earnings	(8)	(17)	(21)	(37)
Interest, net	(20)	(25)	(43)	(47)
Other, net		(2)	1	(2)
Earnings before income taxes	(28)	(44)	(63)	(86)
Provision for income tax, net	(16)	(14)	(41)	(23)
Discontinued operations, net of tax		(105)		(106)
Equity in net earnings of subsidiaries	764	676	1,490	1,305
Net earnings	752	541	1,468	1,136
Comprehensive income	876	640	1,308	1,217
Guarantor Subsidiaries [Member]
Condensed Consolidating Financial Information [Line Items]
Revenues	6,883	6,437	13,651	12,830
Cost of sales	5,574	5,231	11,036	10,429
G&A	381	401	797	769
Operating earnings	928	805	1,818	1,632
Interest, net	(2)	0	(1)	0
Other, net		4	2	4
Earnings before income taxes	926	809	1,819	1,636
Provision for income tax, net	298	270	588	520
Discontinued operations, net of tax		0		0
Equity in net earnings of subsidiaries	0	0	0	0
Net earnings	628	539	1,231	1,116
Comprehensive income	631	540	1,237	1,111
Non-Guarantor Subsidiaries [Member]
Condensed Consolidating Financial Information [Line Items]
Revenues	999	1,037	2,015	1,909
Cost of sales	764	805	1,555	1,501
G&A	74	71	149	180
Operating earnings	161	161	311	228
Interest, net	2	1	3	1
Other, net		(2)	0	(1)
Earnings before income taxes	163	160	314	228
Provision for income tax, net	27	23	55	39
Discontinued operations, net of tax		0		0
Equity in net earnings of subsidiaries	0	0	0	0
Net earnings	136	137	259	189
Comprehensive income	198	200	(26)	205
Consolidating Adjustments [Member]
Condensed Consolidating Financial Information [Line Items]
Revenues	0	0	0	0
Cost of sales	0	0	0	0
G&A	0	0	0	0
Operating earnings	0	0	0	0
Interest, net	0	0	0	0
Other, net		0	0	0
Earnings before income taxes	0	0	0	0
Provision for income tax, net	0	0	0	0
Discontinued operations, net of tax		0		0
Equity in net earnings of subsidiaries	(764)	(676)	(1,490)	(1,305)
Net earnings	(764)	(676)	(1,490)	(1,305)
Comprehensive income	$ (829)	$ (740)	$ (1,211)	$ (1,316)

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Millions	Jul. 05, 2015	Dec. 31, 2014		Jun. 29, 2014	Dec. 31, 2013
Current assets:
Cash and equivalents	$ 4,032	$ 4,388		$ 3,841	$ 5,301
Accounts receivable	3,595	4,050
Contracts in process	4,273	4,591
Inventories
Work in process	1,992	1,828
Raw materials	1,325	1,290
Finished goods	23	28
Pre-owned aircraft	19	75
Other current assets	514	1,157
Total current assets	15,773	17,407
Noncurrent assets:
Property, plant and equipment	7,441	7,292
Accumulated depreciation of PP&E	(4,112)	(3,963)
Intangible assets	2,377	2,398
Accumulated amortization of intangible assets	(1,536)	(1,486)
Goodwill	11,644	11,731	[1]
Other assets	2,067	1,976
Investment in subsidiaries	0	0
Total noncurrent assets	17,881	17,948
Total assets	33,654	35,355
Current liabilities:
Short-term debt	2	501
Customer advances and deposits	6,104	7,335
Other current liabilities	6,602	5,915
Total current liabilities	12,708	13,751
Noncurrent liabilities:
Long-term debt	3,411	3,410
Other liabilities	6,259	6,365
Total noncurrent liabilities	9,670	9,775
Intercompany	0	0
Shareholders' equity:
Common stock	482	482
Other shareholders' equity	10,794	11,347
Total shareholders' equity	11,276	11,829		13,119	14,501
Total liabilities and shareholders' equity	33,654	35,355
Parent Company [Member]
Current assets:
Cash and equivalents	2,296	2,536		2,882	4,179
Accounts receivable	0	0
Contracts in process	534	542
Inventories
Work in process	0	0
Raw materials	0	0
Finished goods	0	0
Pre-owned aircraft	0	0
Other current assets	135	781
Total current assets	2,965	3,859
Noncurrent assets:
Property, plant and equipment	150	148
Accumulated depreciation of PP&E	(56)	(52)
Intangible assets	0	0
Accumulated amortization of intangible assets	0	0
Goodwill	0	0
Other assets	1,586	1,479
Investment in subsidiaries	38,516	37,449
Total noncurrent assets	40,196	39,024
Total assets	43,161	42,883
Current liabilities:
Short-term debt	0	500
Customer advances and deposits	0	0
Other current liabilities	1,407	1,298
Total current liabilities	1,407	1,798
Noncurrent liabilities:
Long-term debt	3,387	3,386
Other liabilities	3,414	3,514
Total noncurrent liabilities	6,801	6,900
Intercompany	23,677	22,356
Shareholders' equity:
Common stock	482	482
Other shareholders' equity	10,794	11,347
Total shareholders' equity	11,276	11,829
Total liabilities and shareholders' equity	43,161	42,883
Guarantor Subsidiaries [Member]
Current assets:
Cash and equivalents	0	0		0	0
Accounts receivable	1,260	1,379
Contracts in process	2,703	2,966
Inventories
Work in process	1,980	1,818
Raw materials	1,292	1,260
Finished goods	15	20
Pre-owned aircraft	19	75
Other current assets	206	215
Total current assets	7,475	7,733
Noncurrent assets:
Property, plant and equipment	6,186	6,035
Accumulated depreciation of PP&E	(3,367)	(3,246)
Intangible assets	1,444	1,484
Accumulated amortization of intangible assets	(1,079)	(1,042)
Goodwill	8,026	8,095
Other assets	239	213
Investment in subsidiaries	0	0
Total noncurrent assets	11,449	11,539
Total assets	18,924	19,272
Current liabilities:
Short-term debt	2	1
Customer advances and deposits	3,222	3,529
Other current liabilities	3,499	3,511
Total current liabilities	6,723	7,041
Noncurrent liabilities:
Long-term debt	24	24
Other liabilities	2,353	2,369
Total noncurrent liabilities	2,377	2,393
Intercompany	(23,051)	(22,557)
Shareholders' equity:
Common stock	6	6
Other shareholders' equity	32,869	32,389
Total shareholders' equity	32,875	32,395
Total liabilities and shareholders' equity	18,924	19,272
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and equivalents	1,736	1,852		959	1,122
Accounts receivable	2,335	2,671
Contracts in process	1,036	1,083
Inventories
Work in process	12	10
Raw materials	33	30
Finished goods	8	8
Pre-owned aircraft	0	0
Other current assets	173	161
Total current assets	5,333	5,815
Noncurrent assets:
Property, plant and equipment	1,105	1,109
Accumulated depreciation of PP&E	(689)	(665)
Intangible assets	933	914
Accumulated amortization of intangible assets	(457)	(444)
Goodwill	3,618	3,636
Other assets	242	284
Investment in subsidiaries	0	0
Total noncurrent assets	4,752	4,834
Total assets	10,085	10,649
Current liabilities:
Short-term debt	0	0
Customer advances and deposits	2,882	3,806
Other current liabilities	1,696	1,106
Total current liabilities	4,578	4,912
Noncurrent liabilities:
Long-term debt	0	0
Other liabilities	492	482
Total noncurrent liabilities	492	482
Intercompany	(626)	201
Shareholders' equity:
Common stock	2,043	2,043
Other shareholders' equity	3,598	3,011
Total shareholders' equity	5,641	5,054
Total liabilities and shareholders' equity	10,085	10,649
Consolidating Adjustments [Member]
Current assets:
Cash and equivalents	0	0		$ 0	$ 0
Accounts receivable	0	0
Contracts in process	0	0
Inventories
Work in process	0	0
Raw materials	0	0
Finished goods	0	0
Pre-owned aircraft	0	0
Other current assets	0	0
Total current assets	0	0
Noncurrent assets:
Property, plant and equipment	0	0
Accumulated depreciation of PP&E	0	0
Intangible assets	0	0
Accumulated amortization of intangible assets	0	0
Goodwill	0	0
Other assets	0	0
Investment in subsidiaries	(38,516)	(37,449)
Total noncurrent assets	(38,516)	(37,449)
Total assets	(38,516)	(37,449)
Current liabilities:
Short-term debt	0	0
Customer advances and deposits	0	0
Other current liabilities	0	0
Total current liabilities	0	0
Noncurrent liabilities:
Long-term debt	0	0
Other liabilities	0	0
Total noncurrent liabilities	0	0
Intercompany	0	0
Shareholders' equity:
Common stock	(2,049)	(2,049)
Other shareholders' equity	(36,467)	(35,400)
Total shareholders' equity	(38,516)	(37,449)
Total liabilities and shareholders' equity	$ (38,516)	$ (37,449)
[1]	Goodwill on December 31, 2014, in the Information Systems and Technology reporting unit is net of $1,994 of accumulated impairment losses.

Condensed Consolidating State62

Condensed Consolidating Statements Of Cash Flows (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jul. 05, 2015	Jun. 29, 2014	Jul. 05, 2015	Jun. 29, 2014
Condensed Consolidating Financial Information [Line Items]
Net cash provided by operating activities	[1]			$ 1,348	$ 1,294
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities				500	0
Cash flows from investing activities - continuing operations:
Capital expenditures				(190)	(162)
Proceeds from sales of assets				259	3
Other, net				(18)
Net cash used by investing activities				551	(145)
Cash flows from financing activities - continuing operations:
Purchases of common stock				(1,565)	(2,691)
Repayments of fixed-rate notes				(500)	0
Dividends paid		$ (226)	$ (213)	(432)	(411)
Proceeds from option exercises				198	415
Other, net				60	54
Net cash used by financing activities				(2,239)	(2,633)
Net cash (used) provided by discontinued operations				(16)	24
Cash sweep/funding by parent				0	0
Net increase (decrease) in cash and equivalents				(356)	(1,460)
Cash and equivalents at beginning of period				4,388	5,301
Cash and equivalents at end of period		4,032	3,841	4,032	3,841
Parent Company [Member]
Condensed Consolidating Financial Information [Line Items]
Net cash provided by operating activities	[1]			18	187
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities				500
Cash flows from investing activities - continuing operations:
Capital expenditures				(2)
Proceeds from sales of assets				162
Other, net				2
Net cash used by investing activities				662	1
Cash flows from financing activities - continuing operations:
Purchases of common stock				(1,565)	(2,691)
Repayments of fixed-rate notes				(500)
Dividends paid				(432)	(411)
Proceeds from option exercises				198	415
Other, net				57	54
Net cash used by financing activities				(2,242)	(2,633)
Net cash (used) provided by discontinued operations				(16)	24
Cash sweep/funding by parent				1,338	1,124
Net increase (decrease) in cash and equivalents				(240)	(1,297)
Cash and equivalents at beginning of period				2,536	4,179
Cash and equivalents at end of period		2,296	2,882	2,296	2,882
Guarantor Subsidiaries [Member]
Condensed Consolidating Financial Information [Line Items]
Net cash provided by operating activities	[1]			1,133	1,197
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities				0
Cash flows from investing activities - continuing operations:
Capital expenditures				(180)
Proceeds from sales of assets				97
Other, net				(20)
Net cash used by investing activities				(103)	(132)
Cash flows from financing activities - continuing operations:
Purchases of common stock				0	0
Repayments of fixed-rate notes				0
Dividends paid				0	0
Proceeds from option exercises				0	0
Other, net				3	0
Net cash used by financing activities				3	0
Net cash (used) provided by discontinued operations				0	0
Cash sweep/funding by parent				(1,033)	(1,065)
Net increase (decrease) in cash and equivalents				0	0
Cash and equivalents at beginning of period				0	0
Cash and equivalents at end of period		0	0	0	0
Non-Guarantor Subsidiaries [Member]
Condensed Consolidating Financial Information [Line Items]
Net cash provided by operating activities	[1]			197	(90)
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities				0
Cash flows from investing activities - continuing operations:
Capital expenditures				(8)
Proceeds from sales of assets				0
Other, net				0
Net cash used by investing activities				(8)	(14)
Cash flows from financing activities - continuing operations:
Purchases of common stock				0	0
Repayments of fixed-rate notes				0
Dividends paid				0	0
Proceeds from option exercises				0	0
Other, net				0	0
Net cash used by financing activities				0	0
Net cash (used) provided by discontinued operations				0	0
Cash sweep/funding by parent				(305)	(59)
Net increase (decrease) in cash and equivalents				(116)	(163)
Cash and equivalents at beginning of period				1,852	1,122
Cash and equivalents at end of period		1,736	959	1,736	959
Consolidating Adjustments [Member]
Condensed Consolidating Financial Information [Line Items]
Net cash provided by operating activities	[1]			0	0
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities				0
Cash flows from investing activities - continuing operations:
Capital expenditures				0
Proceeds from sales of assets				0
Other, net				0
Net cash used by investing activities				0	0
Cash flows from financing activities - continuing operations:
Purchases of common stock				0	0
Repayments of fixed-rate notes				0
Dividends paid				0	0
Proceeds from option exercises				0	0
Other, net				0	0
Net cash used by financing activities				0	0
Net cash (used) provided by discontinued operations				0	0
Cash sweep/funding by parent				0	0
Net increase (decrease) in cash and equivalents				0	0
Cash and equivalents at beginning of period				0	0
Cash and equivalents at end of period		$ 0	$ 0	$ 0	$ 0
[1]	* Continuing operations only