General Dynamics (GD) 10-Q 26 Apr 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Apr. 02, 2017shares
Document and Entity Information [Abstract]
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
Document Type	10-Q
Document Period End Date	Apr. 2, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding	301,685,448
Trading Symbol	GD

Consolidated Statements of Earn

Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Revenue:
Products	$ 4,467	$ 4,582
Services	2,974	2,894
Revenue, total	7,441	7,476
Operating costs and expenses:
Products	3,436	3,635
Services	2,489	2,456
General and administrative (G&A)	481	461
Operating costs and expenses, total	6,406	6,552
Operating earnings	1,035	924
Interest, net	(25)	(22)
Other, net	0	10
Earnings from continuing operations before income tax	1,010	912
Provision for income tax, net	247	258
Earnings from continuing operations	763	654
Discontinued operations, net of tax	0	(13)
Net earnings	$ 763	$ 641
Basic:
Continuing operations	$ 2.53	$ 2.12
Discontinued operations	0	(0.04)
Basic	2.53	2.08
Diluted:
Continuing operations	2.48	2.08
Discontinued operations	0	(0.04)
Diluted	$ 2.48	$ 2.04

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 763	$ 641
Gains on cash flow hedges	13	182
Unrealized gains (losses) on securities	5	(9)
Foreign currency translation adjustments	82	180
Change in retirement plans’ funded status	69	60
Other comprehensive income, pretax	169	413
Provision for income tax, net	44	69
Other comprehensive income, net of tax	125	344
Comprehensive income	$ 888	$ 985

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Apr. 02, 2017	Dec. 31, 2016		Apr. 03, 2016	Dec. 31, 2015
Current assets:
Cash and equivalents	$ 2,168	$ 2,334		$ 1,907	$ 2,785
Accounts receivable	3,483	3,399
Unbilled receivables	4,557	4,212
Inventories	5,822	5,817
Other current assets	584	772
Total current assets	16,614	16,534
Noncurrent assets:
Property, plant and equipment, net	3,412	3,477
Intangible assets, net	679	678
Goodwill	11,532	11,445	[1]
Other assets	974	1,038
Total noncurrent assets	16,597	16,638
Total assets	33,211	33,172
Current liabilities:
Short-term debt and current portion of long-term debt	901	900
Accounts payable	2,466	2,538
Customer advances and deposits	6,686	6,827
Other current liabilities	3,112	3,185
Total current liabilities	13,165	13,450
Noncurrent liabilities:
Long-term debt	2,988	2,988
Other liabilities	6,475	6,433
Commitments and contingencies
Total noncurrent liabilities	9,463	9,421
Shareholders’ equity:
Common stock	482	482
Surplus	2,762	2,819
Retained earnings	25,049	24,543
Treasury stock	(14,448)	(14,156)
Accumulated other comprehensive loss	(3,262)	(3,387)		(2,939)	(3,283)
Total shareholders’ equity	10,583	10,301		$ 10,192	$ 10,440
Total liabilities and shareholders’ equity	$ 33,211	$ 33,172
[1]	Goodwill on December 31, 2016, in the Information Systems and Technology reporting unit is net of $2 billion of accumulated impairment losses.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		3 Months Ended
		Apr. 02, 2017	Apr. 03, 2016
Cash flows from operating activities - continuing operations:
Net earnings		$ 763	$ 641
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation of property, plant and equipment		92	89
Amortization of intangible assets		19	27
Equity-based compensation expense		22	27
Deferred income tax provision (benefit)		45	(18)
Discontinued operations		0	13
(Increase) decrease in assets, net of effects of business acquisitions:
Accounts receivable		(84)	(210)
Unbilled receivables		(338)	(276)
Inventories		2	(221)
Increase (decrease) in liabilities, net of effects of business acquisitions:
Accounts payable		(72)	179
Customer advances and deposits		(95)	(18)
Income taxes payable		202	253
Other current liabilities		(76)	(52)
Other, net		53	46
Net cash provided by operating activities	[1]	533	480
Cash flows from investing activities:
Capital expenditures		(62)	(65)
Other, net		(23)	(53)
Net cash used by investing activities		(85)	(118)
Cash flows from financing activities:
Purchases of common stock		(354)	(1,026)
Dividends paid		(230)	(215)
Other, net		(22)	7
Net cash used by financing activities		(606)	(1,234)
Net cash used by discontinued operations		(8)	(6)
Net decrease in cash and equivalents		(166)	(878)
Cash and equivalents at beginning of period		2,334	2,785
Cash and equivalents at end of period		2,168	1,907
Cash payments for:
Total income tax (refunds) payments		(4)	21
Total interest payments		$ 20	$ 16
[1]	* Continuing operations only

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock, Par	Common Stock, Surplus	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2015	$ 10,440	$ 482	$ 2,730	$ 22,903	$ (12,392)	$ (3,283)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	641			641
Cash dividends declared	(234)			(234)
Equity-based awards	40		(5)		45
Shares purchased	(1,039)				(1,039)
Other comprehensive income	344					344
Ending balance at Apr. 03, 2016	10,192	482	2,725	23,310	(13,386)	(2,939)
New Accounting Pronouncement, Cumulative Effect of Change on Equity	(3)			(3)
Beginning balance at Dec. 31, 2016	10,301	482	2,819	24,543	(14,156)	(3,387)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	763			763
Cash dividends declared	(254)			(254)
Equity-based awards	6		(57)		63
Shares purchased	(355)				(355)
Other comprehensive income	125					125
Ending balance at Apr. 02, 2017	$ 10,583	$ 482	$ 2,762	$ 25,049	$ (14,448)	$ (3,262)

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Apr. 02, 2017
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. Some prior-year amounts have been reclassified among financial statement accounts or disclosures to conform to the current-year presentation. Consistent with industry practice, we classify assets and liabilities related to long-term contracts as current, even though some of these amounts may not be realized within one year. Further discussion of our significant accounting policies is contained in the other notes to these 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-month period ended April 2, 2017 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . 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-month periods ended April 2, 2017 , and April 3, 2016 . 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, 2016 . Accounting Standards Updates . Since the first quarter of 2016, we have adopted the following accounting standards issued by the Financial Accounting Standards Board (FASB) that have impacted our prior-period financial statements: • Accounting Standards Update (ASU) 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting • Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers • ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes See Note Q for further discussion of each of these accounting standards. We also adopted ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory, on January 1, 2017. We recognized the cumulative effect of this standard as a $3 decrease to retained earnings on the date of adoption. ASU 2016-16 requires recognition of the current and deferred income tax effects of an intra-entity asset transfer, other than inventory, when the transfer occurs, as opposed to former GAAP, which required companies to defer the income tax effects of intra-entity asset transfers until the asset was sold to an outside party. The income tax effects of intra-entity inventory transfers will continue to be deferred until the inventory is sold. There are several new accounting standards that have been issued by the FASB but are not yet effective, including ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. ASU 2017-07 requires the service cost component of net benefit cost to be reported separately from the other components of net benefit cost in the income statement. The ASU also allows only the service cost component of net benefit cost to be eligible for capitalization. We intend to adopt the standard on the effective date of January 1, 2018. We have not yet determined the effect of the ASU on our results of operations, financial condition or cash flows. For a discussion of other accounting standards that have been issued by the FASB but are not yet effective, refer to the Accounting Standards Updates section in our Annual Report on Form 10-K for the year ended December 31, 2016.

Revenue

Revenue	3 Months Ended
	Apr. 02, 2017
Revenue Recognition [Abstract]
Revenue	REVENUE The majority of our revenue is derived from long-term contracts and programs that can span several years. We account for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers, which we adopted on January 1, 2017, using the retrospective method. See Note Q for further discussion of the adoption, including the impact on our 2016 financial statements. Performance Obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which we forecast our expected costs of satisfying a performance obligation and then add an appropriate margin for that distinct good or service. Our performance obligations are satisfied over time as work progresses or at a point in time. Revenue from products and services transferred to customers over time accounted for 70 percent and 73 percent of our revenue for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively. Substantially all of our revenue in the defense groups is recognized over time. Typically, revenue is recognized over time using an input measure (e.g., costs incurred to date relative to total estimated costs at completion) to measure progress. Contract costs include labor, material, overhead and, when appropriate, G&A expenses. Revenue from goods and services transferred to customers at a single point in time accounted for 30 percent and 27 percent for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively. The majority of our revenue recognized at a point in time is for the manufacture of business-jet aircraft in our Aerospace group. Revenue on these contracts is recognized when the customer accepts the fully outfitted aircraft. On April 2, 2017 , we had $60.4 billion of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 30 percent of our remaining performance obligations as revenue in 2017, an additional 45 percent by 2019 and the balance thereafter. Contract Estimates. Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, 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. Contract estimates are based on various assumptions to project the outcome of future events that often span several years. These assumptions include labor productivity and availability; the complexity of the work to be performed; the cost and availability of materials; the performance of subcontractors; and the availability and timing of funding from the customer. The nature of our contracts gives rise to several types of variable consideration, including claims and award and incentive fees. We include in our contract estimates additional revenue for submitted contract modifications or claims against the customer when we believe we have an enforceable right to the modification or claim, the amount can be estimated reliably and its realization is probable. In evaluating these criteria, we consider the contractual/legal basis for the claim, the cause of any additional costs incurred, the reasonableness of those costs and the objective evidence available to support the claim. We include award or incentive fees in the estimated transaction price when there is a basis to reasonably estimate the amount of the fee. These estimates are based on historical award experience, anticipated performance and our best judgment at the time. Because of our certainty in estimating these amounts, they are included in the transaction price of our contracts and the associated remaining performance obligations. As a significant change in one or more of these estimates could affect the profitability of our contracts, we review and update our contract-related estimates regularly. We recognize adjustments in estimated profit on contracts under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the total loss in the quarter it is identified. The impact of adjustments in contract estimates on our operating earnings can be reflected in either operating costs and expenses or revenue. The aggregate impact of adjustments in contract estimates increased our revenue and operating earnings (and diluted earnings per share) by $72 and $50 ( $0.11 ) for the three-month period ended April 2, 2017 , and $68 and $58 ( $0.12 ) for the three-month period ended April 3, 2016 , respectively. No adjustment on any one contract was material to our unaudited Consolidated Financial Statements for the three-month periods ended April 2, 2017 , and April 3, 2016 . Revenue by Category. Our portfolio of products and services consists of over 10,000 active contracts. The following series of tables presents our revenue disaggregated by several categories. Revenue by major product line was as follows: Three Months Ended April 2, 2017 April 3, 2016 Aircraft manufacturing, outfitting and completions $ 1,629 $ 1,376 Aircraft services 435 401 Pre-owned aircraft 10 4 Total Aerospace 2,074 1,781 Wheeled combat vehicles 560 563 Weapons systems, armament and munitions 346 341 Tanks and tracked vehicles 247 192 Engineering and other services 134 149 Total Combat Systems 1,287 1,245 C4ISR* solutions 1,088 1,186 Information technology (IT) services 1,058 1,142 Total Information Systems and Technology 2,146 2,328 Nuclear-powered submarines 1,204 1,387 Surface combatants 247 273 Auxiliary and commercial ships 143 149 Repair and other services 340 313 Total Marine Systems 1,934 2,122 Total revenue $ 7,441 $ 7,476 * Command, control, communications, computers, intelligence, surveillance and reconnaissance. Revenue by contract type was as follows: Three Months Ended April 2, 2017 Aerospace Combat Systems Information Systems and Technology Marine Systems Total Revenue Fixed-price $ 1,902 $ 1,073 $ 930 $ 1,130 $ 5,035 Cost-reimbursement — 207 1,010 801 2,018 Time-and-materials 172 7 206 3 388 Total revenue $ 2,074 $ 1,287 $ 2,146 $ 1,934 $ 7,441 Three Months Ended April 3, 2016 Fixed-price $ 1,641 $ 1,024 $ 1,077 $ 1,321 $ 5,063 Cost-reimbursement — 216 1,049 800 2,065 Time-and-materials 140 5 202 1 348 Total revenue $ 1,781 $ 1,245 $ 2,328 $ 2,122 $ 7,476 Each of these contract types presents advantages and disadvantages. Typically, we assume more risk with fixed-price contracts. However, these types of contracts offer additional profits when we complete the work for less than originally estimated. Cost-reimbursement contracts generally subject us to lower risk. Accordingly, the associated base fees are usually lower than fees earned on fixed-price contracts. Under time-and-materials contracts, our profit may vary if actual labor-hour costs vary significantly from the negotiated rates. Also, because these contracts can provide little or no fee for managing material costs, the content mix can impact profitability. Revenue by customer was as follows: Three Months Ended April 2, 2017 Aerospace Combat Systems Information Systems and Technology Marine Systems Total Revenue U.S. government: Department of Defense (DoD) $ 40 $ 587 $ 1,175 $ 1,837 $ 3,639 Non-DoD — 24 665 — 689 Foreign Military Sales (FMS) 9 108 12 58 187 Total U.S. government 49 719 1,852 1,895 4,515 U.S. commercial 936 61 89 33 1,119 Non-U.S. government 5 502 176 4 687 Non-U.S. commercial 1,084 5 29 2 1,120 Total revenue $ 2,074 $ 1,287 $ 2,146 $ 1,934 $ 7,441 Three Months Ended April 3, 2016 U.S. government: DoD $ 46 $ 514 $ 1,306 $ 1,992 $ 3,858 Non-DoD — 20 718 2 740 FMS 45 75 12 37 169 Total U.S. government 91 609 2,036 2,031 4,767 U.S. commercial 973 55 87 85 1,200 Non-U.S. government 77 547 160 6 790 Non-U.S. commercial 640 34 45 — 719 Total revenue $ 1,781 $ 1,245 $ 2,328 $ 2,122 $ 7,476 Contract Balances. The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheet. In our defense groups, amounts are billed as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals (e.g., biweekly or monthly) or upon achievement of contractual milestones. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets. However, we sometimes receive advances or deposits from our customers, particularly on our international contracts, before revenue is recognized, resulting in contract liabilities. These assets and liabilities are reported on the Consolidated Balance Sheet on a contract-by-contract basis at the end of each reporting period. In our Aerospace group, we generally receive deposits from customers upon contract execution and upon achievement of contractual milestones. These deposits are liquidated when revenue is recognized. Changes in the contract asset and liability balances during the three-month period ended April 2, 2017 , were not materially impacted by any other factors. Revenue recognized for the three-month periods ended April 2, 2017 , and April 3, 2016 , that was included in the contract liability balance at the beginning of each year was $1.7 billion and $1.4 billion , respectively, and represented primarily revenue from the sale of business-jet aircraft.

Acquisitions and Divestitures,

Acquisitions and Divestitures, Goodwill, and Intangible Assets	3 Months Ended
	Apr. 02, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions and Divestitures, Goodwill, and Intangible Assets	ACQUISITIONS AND DIVESTITURES, GOODWILL, AND INTANGIBLE ASSETS Acquisitions and Divestitures In the first quarter of 2017 , we acquired a fixed-base-operations (FBO) facility in our Aerospace group. In 2016 , we acquired an aircraft management and charter services provider in our Aerospace group and a manufacturer of unmanned underwater vehicles (UUVs) in our Information Systems and Technology group. As the purchase prices of these acquisitions are not material, they are included in other investing activities in the unaudited Consolidated Statement of Cash Flows. The operating results of these acquisitions have been included with our reported results since the respective closing dates. The purchase prices of the acquisitions have been allocated to the estimated fair value of net tangible and intangible assets acquired, with any excess purchase price recorded as goodwill. We did not have any divestitures in 2017 or 2016. In 2015, we completed the sale of our axle business in our Combat Systems group. In the first quarter of 2016, we recognized in discontinued operations a final adjustment of $13 to the loss on the sale of this business. Goodwill The changes in the carrying amount of goodwill by reporting unit for the three -month period ended April 2, 2017 , were as follows: Aerospace Combat Systems Information Systems and Technology Marine Systems Total Goodwill December 31, 2016 (a) $ 2,537 $ 2,598 $ 6,013 $ 297 $ 11,445 Acquisitions (b) 33 — — — 33 Other (c) 35 15 4 — 54 April 2, 2017 $ 2,605 $ 2,613 $ 6,017 $ 297 $ 11,532 (a) Goodwill on December 31, 2016, in the Information Systems and Technology reporting unit is net of $2 billion of accumulated impairment losses. (b) Includes adjustments during the purchase price allocation period. (c) Consists primarily of adjustments for foreign currency translation. Intangible Assets Intangible assets consisted of the following: Gross Carrying Amount (a) Accumulated Amortization Net Carrying Amount Gross Carrying Amount (a) Accumulated Amortization Net Carrying Amount April 2, 2017 December 31, 2016 Contract and program intangible assets (b) $ 1,626 $ (1,273 ) $ 353 $ 1,633 $ (1,281 ) $ 352 Trade names and trademarks 455 (146 ) 309 446 (139 ) 307 Technology and software 120 (103 ) 17 121 (102 ) 19 Other intangible assets 154 (154 ) — 154 (154 ) — Total intangible assets $ 2,355 $ (1,676 ) $ 679 $ 2,354 $ (1,676 ) $ 678 (a) Change in gross carrying amounts consists primarily of adjustments for foreign currency translation and acquired intangible assets. (b) Consists of acquired backlog and probable follow-on work and associated customer relationships. Amortization expense was $19 and $27 for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 02, 2017
Earnings Per Share [Abstract]
Earnings 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 in 2017 and 2016 due to share repurchases. See Note K for further discussion of our share repurchases. Diluted EPS incorporates the additional shares issuable upon the assumed exercise of stock options and the release of restricted stock and restricted stock units (RSUs). Basic and diluted weighted average shares outstanding were as follows (in thousands): Three Months Ended April 2, 2017 April 3, 2016 (a) Basic weighted average shares outstanding 301,771 307,928 Dilutive effect of stock options and restricted stock/RSUs (b) 5,511 5,571 Diluted weighted average shares outstanding 307,282 313,499 (a) Prior-period information has been restated for the adoption of ASU 2016-09, which we adopted in the second quarter of 2016, resulting in an increased dilutive effect of stock options and restricted stock/RSUs. See Note Q for further discussion of our adoption of this accounting standard. (b) 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 681 and 2,948 for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively.

Fair Value

Fair Value	3 Months Ended
	Apr. 02, 2017
Fair Value Disclosures [Abstract]
Fair Value	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 April 2, 2017 , or December 31, 2016 . Our financial instruments include cash and equivalents and other investments, accounts receivable and 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 unaudited Consolidated Balance Sheet approximate their fair value. The following tables present the fair values of our other financial assets and liabilities on April 2, 2017 , and December 31, 2016 , 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) (b) Financial Assets (Liabilities) (a) April 2, 2017 Available-for-sale securities $ 178 $ 178 $ 56 $ 122 Cash flow hedges (468 ) (468 ) — (468 ) Long-term debt, including current portion (3,925 ) (3,850 ) — (3,850 ) December 31, 2016 Available-for-sale securities $ 177 $ 177 $ 59 $ 118 Cash flow hedges (477 ) (477 ) — (477 ) Long-term debt, including current portion (3,924 ) (3,849 ) — (3,849 ) (a) We had no Level 3 financial instruments on April 2, 2017 , or December 31, 2016 . (b) 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.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 02, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Net Deferred Tax Asset. Our deferred tax assets and liabilities are included in other noncurrent assets and liabilities on the Consolidated Balance Sheet. Our net deferred tax asset consisted of the following: April 2, 2017 December 31, 2016 Deferred tax asset $ 487 $ 564 Deferred tax liability (187 ) (183 ) Net deferred tax asset $ 300 $ 381 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. The total amount of these tax liabilities on April 2, 2017 , was not material to our results of operations, financial condition or cash flows. We participate in the Internal Revenue Service (IRS) Compliance Assurance Process (CAP), a real-time audit of our consolidated federal corporate income tax return. The IRS has examined our consolidated federal income tax returns through 2015. 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 April 2, 2017 , 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 vary significantly over the next 12 months, producing, individually or in the aggregate, a material effect on our results of operations, financial condition or cash flows.

Unbilled Receivables

Unbilled Receivables	3 Months Ended
	Apr. 02, 2017
Contractors [Abstract]
Unbilled Receivables	UNBILLED RECEIVABLES Unbilled receivables represent revenue recognized on long-term contracts less associated advances and progress billings. These amounts will be billed in accordance with the agreed-upon contractual terms or upon shipment of products or rendering of services. Unbilled receivables consisted of the following: April 2, 2017 December 31, 2016 Unbilled revenue $ 25,979 $ 25,543 Advances and progress billings (21,422 ) (21,331 ) Net unbilled receivables $ 4,557 $ 4,212

Inventories

Inventories	3 Months Ended
	Apr. 02, 2017
Inventory Disclosure [Abstract]
Inventories	INVENTORIES The majority of our inventories are for business-jet aircraft. Our inventories 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. 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 consisted of the following: April 2, 2017 December 31, 2016 Work in process $ 3,775 $ 3,643 Raw materials 1,383 1,429 Finished goods 25 24 Pre-owned aircraft 40 22 Other contract costs 599 699 Total inventories $ 5,822 $ 5,817

Debt

Debt	3 Months Ended
	Apr. 02, 2017
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following: April 2, 2017 December 31, 2016 Fixed-rate notes due: Interest rate November 2017 1.000% $ 900 $ 900 July 2021 3.875% 500 500 November 2022 2.250% 1,000 1,000 August 2023 1.875% 500 500 August 2026 2.125% 500 500 November 2042 3.600% 500 500 Other Various 25 24 Total debt - principal 3,925 3,924 Less unamortized debt issuance costs and discounts 36 36 Total debt 3,889 3,888 Less current portion 901 900 Long-term debt $ 2,988 $ 2,988 Our fixed-rate notes are fully and unconditionally guaranteed by several of our 100 -percent-owned subsidiaries. See Note P for condensed consolidating financial statements. We have the option to redeem the notes prior to their maturity in whole or in part for the principal plus any accrued but unpaid interest and applicable make-whole amounts. Fixed-rate notes of $900 mature in November of 2017. As we approach the maturity date of this debt, we will determine whether to repay these notes with cash on hand or refinance the obligation. On April 2, 2017 , 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 for general corporate purposes and working capital needs. These credit facilities include a $1 billion multi-year facility expiring in July 2018 and a $1 billion multi-year facility expiring in November 2020 . These facilities are required by credit rating agencies to support our commercial paper issuances. We may renew or replace these credit facilities in whole or in part at or prior to their expiration dates. Our bank credit facilities are guaranteed by several of our 100 -percent-owned subsidiaries. We also have an effective shelf registration on file with the SEC that allows us to access the debt markets. Our financing arrangements contain a number of customary covenants and restrictions. We were in compliance with all covenants on April 2, 2017 .

Other Liabilities

Other Liabilities	3 Months Ended
	Apr. 02, 2017
Other Liabilities Disclosure [Abstract]
Other Liabilities	OTHER LIABILITIES A summary of significant other liabilities by balance sheet caption follows: April 2, 2017 December 31, 2016 Salaries and wages $ 639 $ 693 Fair value of cash flow hedges 502 521 Workers’ compensation 334 337 Retirement benefits 293 303 Other (a) 1,344 1,331 Total other current liabilities $ 3,112 $ 3,185 Retirement benefits $ 4,359 $ 4,393 Customer deposits on commercial contracts 765 719 Deferred income taxes 187 183 Other (b) 1,164 1,138 Total other liabilities $ 6,475 $ 6,433 (a) Consists primarily of dividends payable, taxes payable, environmental remediation reserves, warranty reserves, deferred revenue and supplier contributions in the Aerospace group, liabilities of discontinued operations, and insurance-related costs. (b) Consists primarily of warranty reserves, workers’ compensation liabilities and liabilities of discontinued operations.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Apr. 02, 2017
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS ’ EQUITY Share Repurchases. Our board of directors authorizes management’s repurchase of outstanding shares of our common stock on the open market from time to time. On March 1, 2017, the board of directors authorized management to repurchase up to 10 million additional shares of the company’s outstanding stock. In the three -month period ended April 2, 2017 , we repurchased 1.9 million of our outstanding shares for $355 . On April 2, 2017 , 13.5 million shares remained authorized by our board of directors for repurchase, approximately 4 percent of our total shares outstanding. We repurchased 7.8 million shares for $1 billion in the three -month period ended April 3, 2016 . Dividends per Share. Dividends declared per share were $0.84 and $0.76 for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively. Cash dividends paid were $230 and $215 for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively. Accumulated Other Comprehensive Loss. The changes, pretax and net of tax, in each component of accumulated other comprehensive loss (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 December 31, 2016 $ (345 ) $ 14 $ 69 $ (3,125 ) $ (3,387 ) Other comprehensive income, pretax 13 5 82 69 169 Provision for income tax, net 4 1 15 24 44 Other comprehensive income, net of tax 9 4 67 45 125 April 2, 2017 $ (336 ) $ 18 $ 136 $ (3,080 ) $ (3,262 ) December 31, 2015 $ (487 ) $ 20 $ 181 $ (2,997 ) $ (3,283 ) Other comprehensive income, pretax 182 (9 ) 180 60 413 Provision for income tax, net 45 (3 ) 5 22 69 Other comprehensive income, net of tax 137 (6 ) 175 38 344 April 3, 2016 $ (350 ) $ 14 $ 356 $ (2,959 ) $ (2,939 ) Amounts reclassified out of AOCL related primarily to changes in our retirement plans’ funded status and consisted of pretax recognized net actuarial losses of $85 and $83 for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively. This was offset partially by pretax amortization of prior service credit of $18 and $19 for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively. These AOCL components are included in our net periodic pension and other post-retirement benefit cost. See Note N for additional details.

Derivative Instruments And Hedg

Derivative Instruments And Hedging Activities	3 Months Ended
	Apr. 02, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments And Hedging Activities	DERIVATIVE FINANCIAL 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 had $6.2 billion in notional forward exchange contracts outstanding on April 2, 2017 , and $6.3 billion on December 31, 2016 . We do not use derivative financial instruments for trading or speculative purposes. We recognize derivative financial instruments on the Consolidated Balance Sheet at fair value. See Note E for additional details. 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 three -year average maturity of these instruments generally matches the duration of the activities that are at risk. We record changes in the fair value of derivative financial instruments in operating costs and expenses in the Consolidated Statement of Earnings or in other comprehensive loss (OCL) within the Consolidated Statement of Comprehensive Income depending on whether the derivative is designated and qualifies for hedge accounting. Gains and losses related to derivative financial instruments 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 Statement 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 Statement of Earnings for all derivative financial instruments, regardless of designation. Net gains and losses on derivative financial instruments recognized in earnings, including gains and losses related to hedge ineffectiveness, were not material to our results of operations for the three-month periods ended April 2, 2017 , and April 3, 2016 . Net gains and losses reclassified to earnings from OCL were not material to our results of operations for the three-month periods ended April 2, 2017 , and April 3, 2016 , 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 April 2, 2017 , or December 31, 2016 . 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 rising labor and commodity price risk, primarily on long-term, fixed-price contracts. To the extent possible, we include terms in our contracts that are designed to protect us from these risks. Some of the protective terms included in our contracts are considered derivative financial instruments 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 April 2, 2017 , we held $2.2 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 end-of-period exchange rates, and statements of earnings at 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 revenue and earnings resulting from the translation of these international operations’ results into U.S. dollars. The negative impact of translating our non-U.S. operations’ revenue into U.S. dollars was not material to our results of operations for the three-month periods ended April 2, 2017 , or April 3, 2016 . In addition, the effect of changes in foreign exchange rates on non-U.S. cash balances was not material for the three -month periods ended April 2, 2017 , and April 3, 2016 .

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Apr. 02, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES Litigation In 2015, Electric Boat Corporation, a subsidiary of General Dynamics Corporation, received a Civil Investigative Demand from the U.S. Department of Justice regarding an investigation of potential False Claims Act violations relating to alleged failures of Electric Boat’s quality system with respect to allegedly non-conforming parts purchased from a supplier. In 2016, Electric Boat was made aware that it is a defendant in a lawsuit related to this matter filed under seal in U.S. district court. Also in 2016, the Suspending and Debarring Official for the U.S. Department of the Navy issued a Show Cause Letter to Electric Boat requesting that Electric Boat respond to the official’s concerns regarding Electric Boat’s oversight and management with respect to its quality assurance systems for subcontractors and suppliers. Electric Boat responded to the Show Cause Letter and has been engaged in discussions with the U.S. government. Given the current status of these matters, we are unable to express a view regarding the ultimate outcome or, if the outcome is adverse, to estimate an amount or range of reasonably possible loss. Depending on the outcome of these matters, there could be a material impact on our results of operations, financial condition and cash flows. Additionally, various claims and legal proceedings incidental to the normal course of business are pending or threatened against us. These other 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 other 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 $1.1 billion on April 2, 2017 . 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 45 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 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 based generally on the number of months of warranty coverage remaining for the 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 Sheet. The changes in the carrying amount of warranty liabilities for the three-month periods ended April 2, 2017 , and April 3, 2016 , were as follows: Three Months Ended April 2, 2017 April 3, 2016 Beginning balance $ 474 $ 434 Warranty expense 35 23 Payments (21 ) (22 ) Adjustments — (1 ) Ending balance $ 488 $ 434

Retirement Plans

Retirement Plans	3 Months Ended
	Apr. 02, 2017
Compensation and Retirement Disclosure [Abstract]
Retirement Plans	RETIREMENT PLANS We provide defined-contribution benefits to eligible employees, as well as some remaining defined-benefit pension and other post-retirement benefits. Net periodic defined-benefit pension and other post-retirement benefit cost for the three-month periods ended April 2, 2017 , and April 3, 2016 , consisted of the following: Pension Benefits Other Post-retirement Benefits Three Months Ended April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Service cost $ 42 $ 44 $ 3 $ 3 Interest cost 113 114 8 8 Expected return on plan assets (169 ) (178 ) (8 ) (8 ) Recognized net actuarial loss (gain) 86 84 (1 ) (1 ) Amortization of prior service credit (17 ) (17 ) (1 ) (2 ) Net periodic benefit cost $ 55 $ 47 $ 1 $ — In 2017, we decreased the expected long-term rate of return on assets in our primary U.S. government and commercial pension plans by 75 basis points following an assessment of the historical and expected long-term returns of our various asset classes. 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 (CAS) and specific contractual terms. For some of these plans, the cumulative pension and other 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 other contract costs in inventory on the Consolidated Balance Sheet until the cost is allocable to contracts. See Note H for discussion of our deferred contract costs. For other plans, the amount allocated to contracts and included in revenue has exceeded the plans’ cumulative benefit cost. We have deferred recognition of these excess earnings, classifying these deferrals against the plan assets on the Consolidated Balance Sheet.

Business Group Information

Business Group Information	3 Months Ended
	Apr. 02, 2017
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. 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: Revenue Operating Earnings Three Months Ended April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Aerospace $ 2,074 $ 1,781 $ 443 $ 332 Combat Systems 1,287 1,245 205 187 Information Systems and Technology 2,146 2,328 236 237 Marine Systems 1,934 2,122 161 184 Corporate* — — (10 ) (16 ) Total $ 7,441 $ 7,476 $ 1,035 $ 924 * Corporate operating results consist primarily of stock option expense.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	3 Months Ended
	Apr. 02, 2017
Consolidating Financial Statements [Abstract]
Condensed Consolidating Financial Statements	CONDENSED CONSOLIDATING FINANCIAL STATEMENTS The fixed-rate notes described in Note I are fully and unconditionally guaranteed on an unsecured, joint and several basis by several 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 April 2, 2017 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Revenue $ — $ 6,544 $ 897 $ — $ 7,441 Cost of sales (3 ) 5,241 687 — 5,925 G&A 11 394 76 — 481 Operating earnings (8 ) 909 134 — 1,035 Interest, net (24 ) — (1 ) — (25 ) Earnings before income tax (32 ) 909 133 — 1,010 Provision for income tax, net (67 ) 293 21 — 247 Equity in net earnings of subsidiaries 728 — — (728 ) — Net earnings $ 763 $ 616 $ 112 $ (728 ) $ 763 Comprehensive income $ 888 $ 617 $ 207 $ (824 ) $ 888 Three Months Ended April 3, 2016 Revenue $ — $ 6,599 $ 877 $ — $ 7,476 Cost of sales 4 5,391 696 — 6,091 G&A 11 379 71 — 461 Operating earnings (15 ) 829 110 — 924 Interest, net (23 ) — 1 — (22 ) Other, net 10 — — — 10 Earnings before income tax (28 ) 829 111 — 912 Provision for income tax, net (28 ) 262 24 — 258 Discontinued operations (13 ) — — — (13 ) Equity in net earnings of subsidiaries 654 — — (654 ) — Net earnings $ 641 $ 567 $ 87 $ (654 ) $ 641 Comprehensive income $ 985 $ 565 $ 400 $ (965 ) $ 985 CONDENSED CONSOLIDATING BALANCE SHEET (UNAUDITED) April 2, 2017 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated ASSETS Current assets: Cash and equivalents $ 1,051 $ — $ 1,117 $ — $ 2,168 Accounts receivable — 1,156 2,327 — 3,483 Unbilled receivables — 2,563 1,994 — 4,557 Inventories 238 5,485 99 — 5,822 Other current assets 142 195 247 — 584 Total current assets 1,431 9,399 5,784 — 16,614 Noncurrent assets: Property, plant and equipment, net 131 2,854 427 — 3,412 Intangible assets, net — 255 424 — 679 Goodwill — 8,052 3,480 — 11,532 Other assets 577 244 153 — 974 Investment in subsidiaries 41,618 — — (41,618 ) — Total noncurrent assets 42,326 11,405 4,484 (41,618 ) 16,597 Total assets $ 43,757 $ 20,804 $ 10,268 $ (41,618 ) $ 33,211 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 898 $ 3 $ — $ — $ 901 Customer advances and deposits — 4,053 2,633 — 6,686 Other current liabilities 599 3,406 1,573 — 5,578 Total current liabilities 1,497 7,462 4,206 — 13,165 Noncurrent liabilities: Long-term debt 2,966 22 — — 2,988 Other liabilities 2,398 3,475 602 — 6,475 Total noncurrent liabilities 5,364 3,497 602 — 9,463 Intercompany 26,313 (26,259 ) (54 ) — — Shareholders’ equity: Common stock 482 6 2,354 (2,360 ) 482 Other shareholders’ equity 10,101 36,098 3,160 (39,258 ) 10,101 Total shareholders’ equity 10,583 36,104 5,514 (41,618 ) 10,583 Total liabilities and shareholders’ equity $ 43,757 $ 20,804 $ 10,268 $ (41,618 ) $ 33,211 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated ASSETS Current assets: Cash and equivalents $ 1,254 $ — $ 1,080 $ — $ 2,334 Accounts receivable — 1,155 2,244 — 3,399 Unbilled receivables — 2,235 1,977 — 4,212 Inventories 304 5,417 96 — 5,817 Other current assets 330 204 238 — 772 Total current assets 1,888 9,011 5,635 — 16,534 Noncurrent assets: Property, plant and equipment, net 130 2,933 414 — 3,477 Intangible assets, net — 265 413 — 678 Goodwill — 8,050 3,395 — 11,445 Other assets 640 232 166 — 1,038 Investment in subsidiaries 41,956 — — (41,956 ) — Total noncurrent assets 42,726 11,480 4,388 (41,956 ) 16,638 Total assets $ 44,614 $ 20,491 $ 10,023 $ (41,956 ) $ 33,172 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 898 $ 2 $ — $ — $ 900 Customer advances and deposits — 4,339 2,488 — 6,827 Other current liabilities 564 3,465 1,694 — 5,723 Total current liabilities 1,462 7,806 4,182 — 13,450 Noncurrent liabilities: Long-term debt 2,966 22 — — 2,988 Other liabilities 3,520 2,330 583 — 6,433 Total noncurrent liabilities 6,486 2,352 583 — 9,421 Intercompany 26,365 (25,827 ) (538 ) — — Shareholders’ equity: Common stock 482 6 2,354 (2,360 ) 482 Other shareholders’ equity 9,819 36,154 3,442 (39,596 ) 9,819 Total shareholders’ equity 10,301 36,160 5,796 (41,956 ) 10,301 Total liabilities and shareholders’ equity $ 44,614 $ 20,491 $ 10,023 $ (41,956 ) $ 33,172 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (UNAUDITED) Three Months Ended April 2, 2017 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Net cash provided by operating activities* $ (9 ) $ 442 $ 100 $ — $ 533 Cash flows from investing activities: Capital expenditures (3 ) (42 ) (17 ) — (62 ) Other, net (1 ) 29 (51 ) — (23 ) Net cash used by investing activities (4 ) (13 ) (68 ) — (85 ) Cash flows from financing activities: Purchases of common stock (354 ) — — — (354 ) Dividends paid (230 ) — — — (230 ) Other, net (21 ) (1 ) — — (22 ) Net cash used by financing activities (605 ) (1 ) — — (606 ) Net cash used by discontinued operations (8 ) — — — (8 ) Cash sweep/funding by parent 423 (428 ) 5 — — Net decrease in cash and equivalents (203 ) — 37 — (166 ) Cash and equivalents at beginning of period 1,254 — 1,080 — 2,334 Cash and equivalents at end of period $ 1,051 $ — $ 1,117 $ — $ 2,168 Three Months Ended April 3, 2016 Net cash provided by operating activities* $ 102 $ 314 $ 64 $ — $ 480 Cash flows from investing activities: Capital expenditures (1 ) (58 ) (6 ) — (65 ) Other, net 6 (21 ) (38 ) — (53 ) Net cash used by investing activities 5 (79 ) (44 ) — (118 ) Cash flows from financing activities: Purchases of common stock (1,026 ) — — — (1,026 ) Dividends paid (215 ) — — — (215 ) Other, net 7 — — — 7 Net cash used by financing activities (1,234 ) — — — (1,234 ) Net cash used by discontinued operations (6 ) — — — (6 ) Cash sweep/funding by parent 387 (235 ) (152 ) — — Net decrease in cash and equivalents (746 ) — (132 ) — (878 ) Cash and equivalents at beginning of period 1,732 — 1,053 — 2,785 Cash and equivalents at end of period $ 986 $ — $ 921 $ — $ 1,907 * Continuing operations only.

Prior-Period Financial Statemen

Prior-Period Financial Statements	3 Months Ended
	Apr. 02, 2017
Accounting Changes and Error Corrections [Abstract]
Prior-Period Financial Statements	PRIOR-PERIOD FINANCIAL STATEMENTS Our prior-period financial statements were restated for the adoption of three ASUs that are discussed below. ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. We adopted ASU 2016-09 in the second quarter of 2016. ASU 2016-09 impacted several aspects of our accounting for share-based payment transactions. The ASU requires that excess tax benefits and tax deficiencies (the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes) be recognized as income tax expense or benefit in the Consolidated Statement of Earnings. Previously, these amounts were recognized directly to shareholders’ equity. While this area of the ASU permits only prospective adoption, because we adopted the standard in the second quarter of 2016, we were required to restate the first-quarter 2016 financial statements to reflect the adoption as of the beginning of the year. In the Consolidated Statement of Cash Flows, the excess tax benefit from equity-based compensation, previously classified as a financing activity, is now classified as an operating activity. Additionally, cash paid when directly withholding shares on an employee’s behalf for tax withholding purposes is classified as a financing activity. These areas were adopted retrospectively. ASC Topic 606. We adopted ASC Topic 606 on January 1, 2017, using the retrospective method. The adoption of ASC Topic 606 had two primary impacts on our Consolidated Financial Statements. The impact of adjustments on profit recorded to date is now recognized in the period identified (cumulative catch-up method), rather than prospectively over the remaining contract term. For our contracts for the manufacture of business-jet aircraft, we now recognize revenue at a single point in time when control is transferred to the customer, generally when the customer accepts the fully outfitted aircraft. Prior to the adoption of ASC Topic 606, we recognized revenue for these contracts at two contractual milestones: when green aircraft were completed and accepted by the customer and when the customer accepted final delivery of the fully outfitted aircraft. The cumulative effect of the adoption was recognized as a decrease to retained earnings of $372 on January 1, 2015. We applied the standard's practical expedient that permits the omission of prior-period information about our remaining performance obligations. No other practical expedients were applied. ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. We adopted ASU 2015-17 on January 1, 2017, using the retrospective method. ASU 2015-17 requires that deferred tax assets and liabilities be classified as noncurrent on the Consolidated Balance Sheet. The adoption of ASU 2015-17 resulted in reclassifications among accounts on the Consolidated Balance Sheet, but had no other impacts on our results of operations, financial condition or cash flows. The following tables summarize the effects of adopting these accounting standards on our unaudited Consolidated Financial Statements. CONSOLIDATED STATEMENT OF EARNINGS (UNAUDITED) Three Months Ended Effect of the Adoption of Three Months Ended April 3, 2016 ASU ASC ASU April 3, 2016 (Dollars in millions, except per-share amounts) As Reported 2016-09 Topic 606 2015-17 As Adjusted Revenue: Products $ 4,864 $ — $ (282 ) $ — $ 4,582 Services 2,860 — 34 — 2,894 7,724 — (248 ) — 7,476 Operating costs and expenses: Products 3,784 — (149 ) — 3,635 Services 2,427 — 29 — 2,456 G&A 460 — 1 — 461 6,671 — (119 ) — 6,552 Operating earnings 1,053 — (129 ) — 924 Interest, net (22 ) — — — (22 ) Other, net 10 — — — 10 Earnings from continuing operations before income tax 1,041 — (129 ) — 912 Provision for income tax, net 311 (15 ) (38 ) — 258 Earnings from continuing operations 730 15 (91 ) — 654 Discontinued operations (13 ) — — — (13 ) Net earnings $ 717 $ 15 $ (91 ) $ — $ 641 Earnings per share Basic: Continuing operations $ 2.37 $ 0.05 $ (0.30 ) $ — $ 2.12 Discontinued operations (0.04 ) — — — (0.04 ) Net earnings $ 2.33 $ 0.05 $ (0.30 ) $ — $ 2.08 Diluted: Continuing operations $ 2.34 $ 0.03 $ (0.29 ) $ — $ 2.08 Discontinued operations (0.04 ) — — — (0.04 ) Net earnings $ 2.30 $ 0.03 $ (0.29 ) $ — $ 2.04 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended Effect of the Adoption of Three Months Ended April 3, 2016 ASU ASC ASU April 3, 2016 (Dollars in millions) As Reported 2016-09 Topic 606 2015-17 As Adjusted Net earnings $ 717 $ 15 $ (91 ) $ — $ 641 Gains on cash flow hedges 182 — — — 182 Unrealized losses on securities (9 ) — — — (9 ) Foreign currency translation adjustments 181 — (1 ) — 180 Change in retirement plans’ funded status 60 — — — 60 Other comprehensive income, pretax 414 — (1 ) — 413 Provision for income tax, net 69 — — — 69 Other comprehensive income, net of tax 345 — (1 ) — 344 Comprehensive income $ 1,062 $ 15 $ (92 ) $ — $ 985 CONSOLIDATED BALANCE SHEET (UNAUDITED) Effect of the Adoption of December 31, 2016 ASU ASC ASU December 31, 2016 (Dollars in millions) As Reported 2016-09 Topic 606 2015-17* As Adjusted ASSETS Current assets: Cash and equivalents $ 2,334 $ — $ — $ — $ 2,334 Accounts receivable 3,611 — (212 ) — 3,399 Unbilled receivables 5,282 — (1,070 ) — 4,212 Inventories 3,523 — 2,294 — 5,817 Other current assets 697 — 90 (15 ) 772 Total current assets 15,447 — 1,102 (15 ) 16,534 Noncurrent assets: Property, plant and equipment, net 3,467 — 10 — 3,477 Intangible assets, net 678 — — — 678 Goodwill 11,445 — — — 11,445 Other assets 1,835 — — (797 ) 1,038 Total noncurrent assets 17,425 — 10 (797 ) 16,638 Total assets $ 32,872 $ — $ 1,112 $ (812 ) $ 33,172 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 900 $ — $ — $ — $ 900 Accounts payable 2,538 — — — 2,538 Customer advances and deposits 4,939 — 1,888 — 6,827 Other current liabilities 4,469 — (361 ) (923 ) 3,185 Total current liabilities 12,846 — 1,527 (923 ) 13,450 Noncurrent liabilities: Long-term debt 2,988 — — — 2,988 Other liabilities 6,062 — 260 111 6,433 Commitments and contingencies (see Note M) Total noncurrent liabilities 9,050 — 260 111 9,421 Shareholders’ equity: Common stock 482 — — — 482 Surplus 2,819 — — — 2,819 Retained earnings 25,227 — (684 ) — 24,543 Treasury stock (14,156 ) — — — (14,156 ) Accumulated other comprehensive loss (3,396 ) — 9 — (3,387 ) Total shareholders’ equity 10,976 — (675 ) — 10,301 Total liabilities and shareholders’ equity $ 32,872 $ — $ 1,112 $ (812 ) $ 33,172 * The effect of the adoption of ASU 2015-17 includes the reclassification of current deferred tax assets and liabilities of $10 and $335 , respectively, which are included as effects of adopting ASC Topic 606. CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) Three Months Ended Effect of the Adoption of Three Months Ended April 3, 2016 ASU ASC ASU April 3, 2016 (Dollars in millions) As Reported 2016-09 Topic 606 2015-17 As Adjusted Cash flows from operating activities - continuing operations: Net earnings $ 717 $ 15 $ (91 ) $ — $ 641 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation of property, plant and equipment 90 — (1 ) — 89 Amortization of intangible assets 27 — — — 27 Equity-based compensation expense 27 — — — 27 Excess tax benefit from equity-based compensation (15 ) 15 — — — Deferred income tax provision 20 — (38 ) — (18 ) Discontinued operations 13 — — — 13 (Increase) decrease in assets, net of effects of business acquisitions: Accounts receivable (195 ) — (15 ) — (210 ) Unbilled receivables (337 ) — 61 — (276 ) Inventories (133 ) — (88 ) — (221 ) Increase (decrease) in liabilities, net of effects of business acquisitions: Accounts payable 179 — — — 179 Customer advances and deposits (209 ) — 191 — (18 ) Income taxes payable 268 (15 ) — — 253 Other current liabilities (70 ) 26 (8 ) — (52 ) Other, net 57 — (11 ) — 46 Net cash provided by operating activities 439 41 — — 480 Cash flows from investing activities: Capital expenditures (65 ) — — — (65 ) Other, net (53 ) — — — (53 ) Net cash used by investing activities (118 ) — — — (118 ) Cash flows from financing activities: Purchases of common stock (1,026 ) — — — (1,026 ) Dividends paid (215 ) — — — (215 ) Other, net 48 (41 ) — — 7 Net cash used by financing activities (1,193 ) (41 ) — — (1,234 ) Net cash used by discontinued operations (6 ) — — — (6 ) Net decrease in cash and equivalents (878 ) — — — (878 ) Cash and equivalents at beginning of period 2,785 — — — 2,785 Cash and equivalents at end of period $ 1,907 $ — $ — $ — $ 1,907 CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (UNAUDITED) Common Stock Retained Treasury Accumulated Other Comprehensive Total Shareholders’ (Dollars in millions) Par Surplus Earnings Stock Loss Equity December 31, 2015 - as reported $ 482 $ 2,730 $ 23,204 $ (12,392 ) $ (3,286 ) $ 10,738 Cumulative-effect adjustment of ASC Topic 606 on January 1, 2016 — — (301 ) — 3 (298 ) December 31, 2015 - as adjusted 482 2,730 22,903 (12,392 ) (3,283 ) 10,440 First quarter 2016 - as reported — 10 483 (994 ) 345 (156 ) Effect of the adoption of ASU 2016-09 — (15 ) 15 — — — Effect of the adoption of ASC Topic 606 — — (91 ) — (1 ) (92 ) Effect of the adoption of ASU 2015-17 — — — — — — April 3, 2016 - as adjusted $ 482 $ 2,725 $ 23,310 $ (13,386 ) $ (2,939 ) $ 10,192

Summary Of Significant Accoun24

Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 02, 2017
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. Some prior-year amounts have been reclassified among financial statement accounts or disclosures to conform to the current-year presentation. Consistent with industry practice, we classify assets and liabilities related to long-term 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-month period ended April 2, 2017 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 . 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-month periods ended April 2, 2017 , and April 3, 2016 . 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, 2016 .
Accounting Standards Updates	Accounting Standards Updates . Since the first quarter of 2016, we have adopted the following accounting standards issued by the Financial Accounting Standards Board (FASB) that have impacted our prior-period financial statements: • Accounting Standards Update (ASU) 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting • Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers • ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes See Note Q for further discussion of each of these accounting standards. We also adopted ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory, on January 1, 2017. We recognized the cumulative effect of this standard as a $3 decrease to retained earnings on the date of adoption. ASU 2016-16 requires recognition of the current and deferred income tax effects of an intra-entity asset transfer, other than inventory, when the transfer occurs, as opposed to former GAAP, which required companies to defer the income tax effects of intra-entity asset transfers until the asset was sold to an outside party. The income tax effects of intra-entity inventory transfers will continue to be deferred until the inventory is sold. There are several new accounting standards that have been issued by the FASB but are not yet effective, including ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. ASU 2017-07 requires the service cost component of net benefit cost to be reported separately from the other components of net benefit cost in the income statement. The ASU also allows only the service cost component of net benefit cost to be eligible for capitalization. We intend to adopt the standard on the effective date of January 1, 2018. We have not yet determined the effect of the ASU on our results of operations, financial condition or cash flows. For a discussion of other accounting standards that have been issued by the FASB but are not yet effective, refer to the Accounting Standards Updates section in our Annual Report on Form 10-K for the year ended December 31, 2016. ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. We adopted ASU 2016-09 in the second quarter of 2016. ASU 2016-09 impacted several aspects of our accounting for share-based payment transactions. The ASU requires that excess tax benefits and tax deficiencies (the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes) be recognized as income tax expense or benefit in the Consolidated Statement of Earnings. Previously, these amounts were recognized directly to shareholders’ equity. While this area of the ASU permits only prospective adoption, because we adopted the standard in the second quarter of 2016, we were required to restate the first-quarter 2016 financial statements to reflect the adoption as of the beginning of the year. In the Consolidated Statement of Cash Flows, the excess tax benefit from equity-based compensation, previously classified as a financing activity, is now classified as an operating activity. Additionally, cash paid when directly withholding shares on an employee’s behalf for tax withholding purposes is classified as a financing activity. These areas were adopted retrospectively. ASC Topic 606. We adopted ASC Topic 606 on January 1, 2017, using the retrospective method. The adoption of ASC Topic 606 had two primary impacts on our Consolidated Financial Statements. The impact of adjustments on profit recorded to date is now recognized in the period identified (cumulative catch-up method), rather than prospectively over the remaining contract term. For our contracts for the manufacture of business-jet aircraft, we now recognize revenue at a single point in time when control is transferred to the customer, generally when the customer accepts the fully outfitted aircraft. Prior to the adoption of ASC Topic 606, we recognized revenue for these contracts at two contractual milestones: when green aircraft were completed and accepted by the customer and when the customer accepted final delivery of the fully outfitted aircraft. The cumulative effect of the adoption was recognized as a decrease to retained earnings of $372 on January 1, 2015. We applied the standard's practical expedient that permits the omission of prior-period information about our remaining performance obligations. No other practical expedients were applied. ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes. We adopted ASU 2015-17 on January 1, 2017, using the retrospective method. ASU 2015-17 requires that deferred tax assets and liabilities be classified as noncurrent on the Consolidated Balance Sheet. The adoption of ASU 2015-17 resulted in reclassifications among accounts on the Consolidated Balance Sheet, but had no other impacts on our results of operations, financial condition or cash flows.
Revenue Recognition	The majority of our revenue is derived from long-term contracts and programs that can span several years. We account for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers, which we adopted on January 1, 2017, using the retrospective method. See Note Q for further discussion of the adoption, including the impact on our 2016 financial statements. Performance Obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which we forecast our expected costs of satisfying a performance obligation and then add an appropriate margin for that distinct good or service. Our performance obligations are satisfied over time as work progresses or at a point in time. Revenue from products and services transferred to customers over time accounted for 70 percent and 73 percent of our revenue for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively. Substantially all of our revenue in the defense groups is recognized over time. Typically, revenue is recognized over time using an input measure (e.g., costs incurred to date relative to total estimated costs at completion) to measure progress. Contract costs include labor, material, overhead and, when appropriate, G&A expenses. Revenue from goods and services transferred to customers at a single point in time accounted for 30 percent and 27 percent for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively. The majority of our revenue recognized at a point in time is for the manufacture of business-jet aircraft in our Aerospace group. Revenue on these contracts is recognized when the customer accepts the fully outfitted aircraft. On April 2, 2017 , we had $60.4 billion of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 30 percent of our remaining performance obligations as revenue in 2017, an additional 45 percent by 2019 and the balance thereafter. Contract Estimates. Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. For long-term contracts, 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. Contract estimates are based on various assumptions to project the outcome of future events that often span several years. These assumptions include labor productivity and availability; the complexity of the work to be performed; the cost and availability of materials; the performance of subcontractors; and the availability and timing of funding from the customer. The nature of our contracts gives rise to several types of variable consideration, including claims and award and incentive fees. We include in our contract estimates additional revenue for submitted contract modifications or claims against the customer when we believe we have an enforceable right to the modification or claim, the amount can be estimated reliably and its realization is probable. In evaluating these criteria, we consider the contractual/legal basis for the claim, the cause of any additional costs incurred, the reasonableness of those costs and the objective evidence available to support the claim. We include award or incentive fees in the estimated transaction price when there is a basis to reasonably estimate the amount of the fee. These estimates are based on historical award experience, anticipated performance and our best judgment at the time. Because of our certainty in estimating these amounts, they are included in the transaction price of our contracts and the associated remaining performance obligations. As a significant change in one or more of these estimates could affect the profitability of our contracts, we review and update our contract-related estimates regularly. We recognize adjustments in estimated profit on contracts under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the total loss in the quarter it is identified. The impact of adjustments in contract estimates on our operating earnings can be reflected in either operating costs and expenses or revenue. The aggregate impact of adjustments in contract estimates increased our revenue and operating earnings (and diluted earnings per share) by $72 and $50 ( $0.11 ) for the three-month period ended April 2, 2017 , and $68 and $58 ( $0.12 ) for the three-month period ended April 3, 2016 , respectively. No adjustment on any one contract was material to our unaudited Consolidated Financial Statements for the three-month periods ended April 2, 2017 , and April 3, 2016 .

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Apr. 02, 2017
Revenue Recognition [Abstract]
Revenue by Major Product Line	Revenue by major product line was as follows: Three Months Ended April 2, 2017 April 3, 2016 Aircraft manufacturing, outfitting and completions $ 1,629 $ 1,376 Aircraft services 435 401 Pre-owned aircraft 10 4 Total Aerospace 2,074 1,781 Wheeled combat vehicles 560 563 Weapons systems, armament and munitions 346 341 Tanks and tracked vehicles 247 192 Engineering and other services 134 149 Total Combat Systems 1,287 1,245 C4ISR* solutions 1,088 1,186 Information technology (IT) services 1,058 1,142 Total Information Systems and Technology 2,146 2,328 Nuclear-powered submarines 1,204 1,387 Surface combatants 247 273 Auxiliary and commercial ships 143 149 Repair and other services 340 313 Total Marine Systems 1,934 2,122 Total revenue $ 7,441 $ 7,476 * Command, control, communications, computers, intelligence, surveillance and reconnaissance.
Revenue by Customer	Revenue by customer was as follows: Three Months Ended April 2, 2017 Aerospace Combat Systems Information Systems and Technology Marine Systems Total Revenue U.S. government: Department of Defense (DoD) $ 40 $ 587 $ 1,175 $ 1,837 $ 3,639 Non-DoD — 24 665 — 689 Foreign Military Sales (FMS) 9 108 12 58 187 Total U.S. government 49 719 1,852 1,895 4,515 U.S. commercial 936 61 89 33 1,119 Non-U.S. government 5 502 176 4 687 Non-U.S. commercial 1,084 5 29 2 1,120 Total revenue $ 2,074 $ 1,287 $ 2,146 $ 1,934 $ 7,441 Three Months Ended April 3, 2016 U.S. government: DoD $ 46 $ 514 $ 1,306 $ 1,992 $ 3,858 Non-DoD — 20 718 2 740 FMS 45 75 12 37 169 Total U.S. government 91 609 2,036 2,031 4,767 U.S. commercial 973 55 87 85 1,200 Non-U.S. government 77 547 160 6 790 Non-U.S. commercial 640 34 45 — 719 Total revenue $ 1,781 $ 1,245 $ 2,328 $ 2,122 $ 7,476
Revenue by Contract Type	Revenue by contract type was as follows: Three Months Ended April 2, 2017 Aerospace Combat Systems Information Systems and Technology Marine Systems Total Revenue Fixed-price $ 1,902 $ 1,073 $ 930 $ 1,130 $ 5,035 Cost-reimbursement — 207 1,010 801 2,018 Time-and-materials 172 7 206 3 388 Total revenue $ 2,074 $ 1,287 $ 2,146 $ 1,934 $ 7,441 Three Months Ended April 3, 2016 Fixed-price $ 1,641 $ 1,024 $ 1,077 $ 1,321 $ 5,063 Cost-reimbursement — 216 1,049 800 2,065 Time-and-materials 140 5 202 1 348 Total revenue $ 1,781 $ 1,245 $ 2,328 $ 2,122 $ 7,476

Acquisitions and Divestitures26

Acquisitions and Divestitures, Goodwill, and Intangible Assets (Tables)	3 Months Ended
	Apr. 02, 2017
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 three -month period ended April 2, 2017 , were as follows: Aerospace Combat Systems Information Systems and Technology Marine Systems Total Goodwill December 31, 2016 (a) $ 2,537 $ 2,598 $ 6,013 $ 297 $ 11,445 Acquisitions (b) 33 — — — 33 Other (c) 35 15 4 — 54 April 2, 2017 $ 2,605 $ 2,613 $ 6,017 $ 297 $ 11,532 (a) Goodwill on December 31, 2016, in the Information Systems and Technology reporting unit is net of $2 billion of accumulated impairment losses. (b) Includes adjustments during the purchase price allocation period. (c) Consists primarily of adjustments for foreign currency translation.
Intangible Assets	Intangible assets consisted of the following: Gross Carrying Amount (a) Accumulated Amortization Net Carrying Amount Gross Carrying Amount (a) Accumulated Amortization Net Carrying Amount April 2, 2017 December 31, 2016 Contract and program intangible assets (b) $ 1,626 $ (1,273 ) $ 353 $ 1,633 $ (1,281 ) $ 352 Trade names and trademarks 455 (146 ) 309 446 (139 ) 307 Technology and software 120 (103 ) 17 121 (102 ) 19 Other intangible assets 154 (154 ) — 154 (154 ) — Total intangible assets $ 2,355 $ (1,676 ) $ 679 $ 2,354 $ (1,676 ) $ 678 (a) Change in gross carrying amounts consists primarily of adjustments for foreign currency translation and acquired intangible assets. (b) Consists of acquired backlog and probable follow-on work and associated customer relationships.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 02, 2017
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 April 2, 2017 April 3, 2016 (a) Basic weighted average shares outstanding 301,771 307,928 Dilutive effect of stock options and restricted stock/RSUs (b) 5,511 5,571 Diluted weighted average shares outstanding 307,282 313,499 (a) Prior-period information has been restated for the adoption of ASU 2016-09, which we adopted in the second quarter of 2016, resulting in an increased dilutive effect of stock options and restricted stock/RSUs. See Note Q for further discussion of our adoption of this accounting standard. (b) 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 681 and 2,948 for the three-month periods ended April 2, 2017 , and April 3, 2016 , respectively.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Apr. 02, 2017
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 April 2, 2017 , and December 31, 2016 , 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) (b) Financial Assets (Liabilities) (a) April 2, 2017 Available-for-sale securities $ 178 $ 178 $ 56 $ 122 Cash flow hedges (468 ) (468 ) — (468 ) Long-term debt, including current portion (3,925 ) (3,850 ) — (3,850 ) December 31, 2016 Available-for-sale securities $ 177 $ 177 $ 59 $ 118 Cash flow hedges (477 ) (477 ) — (477 ) Long-term debt, including current portion (3,924 ) (3,849 ) — (3,849 ) (a) We had no Level 3 financial instruments on April 2, 2017 , or December 31, 2016 . (b) 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.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Apr. 02, 2017
Income Tax Disclosure [Abstract]
Deferred Tax Assets and Liabilities	Our net deferred tax asset consisted of the following: April 2, 2017 December 31, 2016 Deferred tax asset $ 487 $ 564 Deferred tax liability (187 ) (183 ) Net deferred tax asset $ 300 $ 381

Unbilled Receivables (Tables)

Unbilled Receivables (Tables)	3 Months Ended
	Apr. 02, 2017
Contractors [Abstract]
Schedule of Unbilled Receivables	Unbilled receivables consisted of the following: April 2, 2017 December 31, 2016 Unbilled revenue $ 25,979 $ 25,543 Advances and progress billings (21,422 ) (21,331 ) Net unbilled receivables $ 4,557 $ 4,212

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 02, 2017
Inventory Disclosure [Abstract]
Schedule Of Inventories	Inventories consisted of the following: April 2, 2017 December 31, 2016 Work in process $ 3,775 $ 3,643 Raw materials 1,383 1,429 Finished goods 25 24 Pre-owned aircraft 40 22 Other contract costs 599 699 Total inventories $ 5,822 $ 5,817

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 02, 2017
Debt Disclosure [Abstract]
Schedule Of Debt	Debt consisted of the following: April 2, 2017 December 31, 2016 Fixed-rate notes due: Interest rate November 2017 1.000% $ 900 $ 900 July 2021 3.875% 500 500 November 2022 2.250% 1,000 1,000 August 2023 1.875% 500 500 August 2026 2.125% 500 500 November 2042 3.600% 500 500 Other Various 25 24 Total debt - principal 3,925 3,924 Less unamortized debt issuance costs and discounts 36 36 Total debt 3,889 3,888 Less current portion 901 900 Long-term debt $ 2,988 $ 2,988

Other Liabilities (Tables)

Other Liabilities (Tables)	3 Months Ended
	Apr. 02, 2017
Other Liabilities Disclosure [Abstract]
Summary Of Significant Other Liabilities By Balance Sheet Caption	A summary of significant other liabilities by balance sheet caption follows: April 2, 2017 December 31, 2016 Salaries and wages $ 639 $ 693 Fair value of cash flow hedges 502 521 Workers’ compensation 334 337 Retirement benefits 293 303 Other (a) 1,344 1,331 Total other current liabilities $ 3,112 $ 3,185 Retirement benefits $ 4,359 $ 4,393 Customer deposits on commercial contracts 765 719 Deferred income taxes 187 183 Other (b) 1,164 1,138 Total other liabilities $ 6,475 $ 6,433 (a) Consists primarily of dividends payable, taxes payable, environmental remediation reserves, warranty reserves, deferred revenue and supplier contributions in the Aerospace group, liabilities of discontinued operations, and insurance-related costs. (b) Consists primarily of warranty reserves, workers’ compensation liabilities and liabilities of discontinued operations.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Apr. 02, 2017
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes, pretax and net of tax, in each component of accumulated other comprehensive loss (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 December 31, 2016 $ (345 ) $ 14 $ 69 $ (3,125 ) $ (3,387 ) Other comprehensive income, pretax 13 5 82 69 169 Provision for income tax, net 4 1 15 24 44 Other comprehensive income, net of tax 9 4 67 45 125 April 2, 2017 $ (336 ) $ 18 $ 136 $ (3,080 ) $ (3,262 ) December 31, 2015 $ (487 ) $ 20 $ 181 $ (2,997 ) $ (3,283 ) Other comprehensive income, pretax 182 (9 ) 180 60 413 Provision for income tax, net 45 (3 ) 5 22 69 Other comprehensive income, net of tax 137 (6 ) 175 38 344 April 3, 2016 $ (350 ) $ 14 $ 356 $ (2,959 ) $ (2,939 )

Commitments And Contingencies (

Commitments And Contingencies (Tables)	3 Months Ended
	Apr. 02, 2017
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 three-month periods ended April 2, 2017 , and April 3, 2016 , were as follows: Three Months Ended April 2, 2017 April 3, 2016 Beginning balance $ 474 $ 434 Warranty expense 35 23 Payments (21 ) (22 ) Adjustments — (1 ) Ending balance $ 488 $ 434

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Apr. 02, 2017
Compensation and Retirement Disclosure [Abstract]
Net Periodic Defined-Benefit Pension And Other Post-Retirement Benefit Cost	Net periodic defined-benefit pension and other post-retirement benefit cost for the three-month periods ended April 2, 2017 , and April 3, 2016 , consisted of the following: Pension Benefits Other Post-retirement Benefits Three Months Ended April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Service cost $ 42 $ 44 $ 3 $ 3 Interest cost 113 114 8 8 Expected return on plan assets (169 ) (178 ) (8 ) (8 ) Recognized net actuarial loss (gain) 86 84 (1 ) (1 ) Amortization of prior service credit (17 ) (17 ) (1 ) (2 ) Net periodic benefit cost $ 55 $ 47 $ 1 $ —

Business Group Information (Tab

Business Group Information (Tables)	3 Months Ended
	Apr. 02, 2017
Segment Reporting [Abstract]
Summary Of Financial Information For Each Of Our Business Groups	Summary financial information for each of our business groups follows: Revenue Operating Earnings Three Months Ended April 2, 2017 April 3, 2016 April 2, 2017 April 3, 2016 Aerospace $ 2,074 $ 1,781 $ 443 $ 332 Combat Systems 1,287 1,245 205 187 Information Systems and Technology 2,146 2,328 236 237 Marine Systems 1,934 2,122 161 184 Corporate* — — (10 ) (16 ) Total $ 7,441 $ 7,476 $ 1,035 $ 924 * Corporate operating results consist primarily of stock option expense.

Condensed Consolidating Finan38

Condensed Consolidating Financial Statements (Tables)	3 Months Ended
	Apr. 02, 2017
Consolidating Financial Statements [Abstract]
Condensed Consolidating Statements of Earnings (Unaudited)	CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (UNAUDITED) Three Months Ended April 2, 2017 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Revenue $ — $ 6,544 $ 897 $ — $ 7,441 Cost of sales (3 ) 5,241 687 — 5,925 G&A 11 394 76 — 481 Operating earnings (8 ) 909 134 — 1,035 Interest, net (24 ) — (1 ) — (25 ) Earnings before income tax (32 ) 909 133 — 1,010 Provision for income tax, net (67 ) 293 21 — 247 Equity in net earnings of subsidiaries 728 — — (728 ) — Net earnings $ 763 $ 616 $ 112 $ (728 ) $ 763 Comprehensive income $ 888 $ 617 $ 207 $ (824 ) $ 888 Three Months Ended April 3, 2016 Revenue $ — $ 6,599 $ 877 $ — $ 7,476 Cost of sales 4 5,391 696 — 6,091 G&A 11 379 71 — 461 Operating earnings (15 ) 829 110 — 924 Interest, net (23 ) — 1 — (22 ) Other, net 10 — — — 10 Earnings before income tax (28 ) 829 111 — 912 Provision for income tax, net (28 ) 262 24 — 258 Discontinued operations (13 ) — — — (13 ) Equity in net earnings of subsidiaries 654 — — (654 ) — Net earnings $ 641 $ 567 $ 87 $ (654 ) $ 641 Comprehensive income $ 985 $ 565 $ 400 $ (965 ) $ 985
Condensed Consolidating Balance Sheet (Unaudited)	April 2, 2017 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated ASSETS Current assets: Cash and equivalents $ 1,051 $ — $ 1,117 $ — $ 2,168 Accounts receivable — 1,156 2,327 — 3,483 Unbilled receivables — 2,563 1,994 — 4,557 Inventories 238 5,485 99 — 5,822 Other current assets 142 195 247 — 584 Total current assets 1,431 9,399 5,784 — 16,614 Noncurrent assets: Property, plant and equipment, net 131 2,854 427 — 3,412 Intangible assets, net — 255 424 — 679 Goodwill — 8,052 3,480 — 11,532 Other assets 577 244 153 — 974 Investment in subsidiaries 41,618 — — (41,618 ) — Total noncurrent assets 42,326 11,405 4,484 (41,618 ) 16,597 Total assets $ 43,757 $ 20,804 $ 10,268 $ (41,618 ) $ 33,211 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 898 $ 3 $ — $ — $ 901 Customer advances and deposits — 4,053 2,633 — 6,686 Other current liabilities 599 3,406 1,573 — 5,578 Total current liabilities 1,497 7,462 4,206 — 13,165 Noncurrent liabilities: Long-term debt 2,966 22 — — 2,988 Other liabilities 2,398 3,475 602 — 6,475 Total noncurrent liabilities 5,364 3,497 602 — 9,463 Intercompany 26,313 (26,259 ) (54 ) — — Shareholders’ equity: Common stock 482 6 2,354 (2,360 ) 482 Other shareholders’ equity 10,101 36,098 3,160 (39,258 ) 10,101 Total shareholders’ equity 10,583 36,104 5,514 (41,618 ) 10,583 Total liabilities and shareholders’ equity $ 43,757 $ 20,804 $ 10,268 $ (41,618 ) $ 33,211 December 31, 2016 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated ASSETS Current assets: Cash and equivalents $ 1,254 $ — $ 1,080 $ — $ 2,334 Accounts receivable — 1,155 2,244 — 3,399 Unbilled receivables — 2,235 1,977 — 4,212 Inventories 304 5,417 96 — 5,817 Other current assets 330 204 238 — 772 Total current assets 1,888 9,011 5,635 — 16,534 Noncurrent assets: Property, plant and equipment, net 130 2,933 414 — 3,477 Intangible assets, net — 265 413 — 678 Goodwill — 8,050 3,395 — 11,445 Other assets 640 232 166 — 1,038 Investment in subsidiaries 41,956 — — (41,956 ) — Total noncurrent assets 42,726 11,480 4,388 (41,956 ) 16,638 Total assets $ 44,614 $ 20,491 $ 10,023 $ (41,956 ) $ 33,172 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 898 $ 2 $ — $ — $ 900 Customer advances and deposits — 4,339 2,488 — 6,827 Other current liabilities 564 3,465 1,694 — 5,723 Total current liabilities 1,462 7,806 4,182 — 13,450 Noncurrent liabilities: Long-term debt 2,966 22 — — 2,988 Other liabilities 3,520 2,330 583 — 6,433 Total noncurrent liabilities 6,486 2,352 583 — 9,421 Intercompany 26,365 (25,827 ) (538 ) — — Shareholders’ equity: Common stock 482 6 2,354 (2,360 ) 482 Other shareholders’ equity 9,819 36,154 3,442 (39,596 ) 9,819 Total shareholders’ equity 10,301 36,160 5,796 (41,956 ) 10,301 Total liabilities and shareholders’ equity $ 44,614 $ 20,491 $ 10,023 $ (41,956 ) $ 33,172
Condensed Consolidating Statements of Cash Flows (Unaudited)	Three Months Ended April 2, 2017 Parent Guarantors on a Combined Basis Other Subsidiaries on a Combined Basis Consolidating Adjustments Total Consolidated Net cash provided by operating activities* $ (9 ) $ 442 $ 100 $ — $ 533 Cash flows from investing activities: Capital expenditures (3 ) (42 ) (17 ) — (62 ) Other, net (1 ) 29 (51 ) — (23 ) Net cash used by investing activities (4 ) (13 ) (68 ) — (85 ) Cash flows from financing activities: Purchases of common stock (354 ) — — — (354 ) Dividends paid (230 ) — — — (230 ) Other, net (21 ) (1 ) — — (22 ) Net cash used by financing activities (605 ) (1 ) — — (606 ) Net cash used by discontinued operations (8 ) — — — (8 ) Cash sweep/funding by parent 423 (428 ) 5 — — Net decrease in cash and equivalents (203 ) — 37 — (166 ) Cash and equivalents at beginning of period 1,254 — 1,080 — 2,334 Cash and equivalents at end of period $ 1,051 $ — $ 1,117 $ — $ 2,168 Three Months Ended April 3, 2016 Net cash provided by operating activities* $ 102 $ 314 $ 64 $ — $ 480 Cash flows from investing activities: Capital expenditures (1 ) (58 ) (6 ) — (65 ) Other, net 6 (21 ) (38 ) — (53 ) Net cash used by investing activities 5 (79 ) (44 ) — (118 ) Cash flows from financing activities: Purchases of common stock (1,026 ) — — — (1,026 ) Dividends paid (215 ) — — — (215 ) Other, net 7 — — — 7 Net cash used by financing activities (1,234 ) — — — (1,234 ) Net cash used by discontinued operations (6 ) — — — (6 ) Cash sweep/funding by parent 387 (235 ) (152 ) — — Net decrease in cash and equivalents (746 ) — (132 ) — (878 ) Cash and equivalents at beginning of period 1,732 — 1,053 — 2,785 Cash and equivalents at end of period $ 986 $ — $ 921 $ — $ 1,907

Prior-Period Financial Statem39

Prior-Period Financial Statements (Tables)	3 Months Ended
	Apr. 02, 2017
Accounting Changes and Error Corrections [Abstract]
Prior-Period Financial Statements	CONSOLIDATED STATEMENT OF EARNINGS (UNAUDITED) Three Months Ended Effect of the Adoption of Three Months Ended April 3, 2016 ASU ASC ASU April 3, 2016 (Dollars in millions, except per-share amounts) As Reported 2016-09 Topic 606 2015-17 As Adjusted Revenue: Products $ 4,864 $ — $ (282 ) $ — $ 4,582 Services 2,860 — 34 — 2,894 7,724 — (248 ) — 7,476 Operating costs and expenses: Products 3,784 — (149 ) — 3,635 Services 2,427 — 29 — 2,456 G&A 460 — 1 — 461 6,671 — (119 ) — 6,552 Operating earnings 1,053 — (129 ) — 924 Interest, net (22 ) — — — (22 ) Other, net 10 — — — 10 Earnings from continuing operations before income tax 1,041 — (129 ) — 912 Provision for income tax, net 311 (15 ) (38 ) — 258 Earnings from continuing operations 730 15 (91 ) — 654 Discontinued operations (13 ) — — — (13 ) Net earnings $ 717 $ 15 $ (91 ) $ — $ 641 Earnings per share Basic: Continuing operations $ 2.37 $ 0.05 $ (0.30 ) $ — $ 2.12 Discontinued operations (0.04 ) — — — (0.04 ) Net earnings $ 2.33 $ 0.05 $ (0.30 ) $ — $ 2.08 Diluted: Continuing operations $ 2.34 $ 0.03 $ (0.29 ) $ — $ 2.08 Discontinued operations (0.04 ) — — — (0.04 ) Net earnings $ 2.30 $ 0.03 $ (0.29 ) $ — $ 2.04 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended Effect of the Adoption of Three Months Ended April 3, 2016 ASU ASC ASU April 3, 2016 (Dollars in millions) As Reported 2016-09 Topic 606 2015-17 As Adjusted Net earnings $ 717 $ 15 $ (91 ) $ — $ 641 Gains on cash flow hedges 182 — — — 182 Unrealized losses on securities (9 ) — — — (9 ) Foreign currency translation adjustments 181 — (1 ) — 180 Change in retirement plans’ funded status 60 — — — 60 Other comprehensive income, pretax 414 — (1 ) — 413 Provision for income tax, net 69 — — — 69 Other comprehensive income, net of tax 345 — (1 ) — 344 Comprehensive income $ 1,062 $ 15 $ (92 ) $ — $ 985 CONSOLIDATED BALANCE SHEET (UNAUDITED) Effect of the Adoption of December 31, 2016 ASU ASC ASU December 31, 2016 (Dollars in millions) As Reported 2016-09 Topic 606 2015-17* As Adjusted ASSETS Current assets: Cash and equivalents $ 2,334 $ — $ — $ — $ 2,334 Accounts receivable 3,611 — (212 ) — 3,399 Unbilled receivables 5,282 — (1,070 ) — 4,212 Inventories 3,523 — 2,294 — 5,817 Other current assets 697 — 90 (15 ) 772 Total current assets 15,447 — 1,102 (15 ) 16,534 Noncurrent assets: Property, plant and equipment, net 3,467 — 10 — 3,477 Intangible assets, net 678 — — — 678 Goodwill 11,445 — — — 11,445 Other assets 1,835 — — (797 ) 1,038 Total noncurrent assets 17,425 — 10 (797 ) 16,638 Total assets $ 32,872 $ — $ 1,112 $ (812 ) $ 33,172 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Short-term debt and current portion of long-term debt $ 900 $ — $ — $ — $ 900 Accounts payable 2,538 — — — 2,538 Customer advances and deposits 4,939 — 1,888 — 6,827 Other current liabilities 4,469 — (361 ) (923 ) 3,185 Total current liabilities 12,846 — 1,527 (923 ) 13,450 Noncurrent liabilities: Long-term debt 2,988 — — — 2,988 Other liabilities 6,062 — 260 111 6,433 Commitments and contingencies (see Note M) Total noncurrent liabilities 9,050 — 260 111 9,421 Shareholders’ equity: Common stock 482 — — — 482 Surplus 2,819 — — — 2,819 Retained earnings 25,227 — (684 ) — 24,543 Treasury stock (14,156 ) — — — (14,156 ) Accumulated other comprehensive loss (3,396 ) — 9 — (3,387 ) Total shareholders’ equity 10,976 — (675 ) — 10,301 Total liabilities and shareholders’ equity $ 32,872 $ — $ 1,112 $ (812 ) $ 33,172 * The effect of the adoption of ASU 2015-17 includes the reclassification of current deferred tax assets and liabilities of $10 and $335 , respectively, which are included as effects of adopting ASC Topic 606. CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) Three Months Ended Effect of the Adoption of Three Months Ended April 3, 2016 ASU ASC ASU April 3, 2016 (Dollars in millions) As Reported 2016-09 Topic 606 2015-17 As Adjusted Cash flows from operating activities - continuing operations: Net earnings $ 717 $ 15 $ (91 ) $ — $ 641 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation of property, plant and equipment 90 — (1 ) — 89 Amortization of intangible assets 27 — — — 27 Equity-based compensation expense 27 — — — 27 Excess tax benefit from equity-based compensation (15 ) 15 — — — Deferred income tax provision 20 — (38 ) — (18 ) Discontinued operations 13 — — — 13 (Increase) decrease in assets, net of effects of business acquisitions: Accounts receivable (195 ) — (15 ) — (210 ) Unbilled receivables (337 ) — 61 — (276 ) Inventories (133 ) — (88 ) — (221 ) Increase (decrease) in liabilities, net of effects of business acquisitions: Accounts payable 179 — — — 179 Customer advances and deposits (209 ) — 191 — (18 ) Income taxes payable 268 (15 ) — — 253 Other current liabilities (70 ) 26 (8 ) — (52 ) Other, net 57 — (11 ) — 46 Net cash provided by operating activities 439 41 — — 480 Cash flows from investing activities: Capital expenditures (65 ) — — — (65 ) Other, net (53 ) — — — (53 ) Net cash used by investing activities (118 ) — — — (118 ) Cash flows from financing activities: Purchases of common stock (1,026 ) — — — (1,026 ) Dividends paid (215 ) — — — (215 ) Other, net 48 (41 ) — — 7 Net cash used by financing activities (1,193 ) (41 ) — — (1,234 ) Net cash used by discontinued operations (6 ) — — — (6 ) Net decrease in cash and equivalents (878 ) — — — (878 ) Cash and equivalents at beginning of period 2,785 — — — 2,785 Cash and equivalents at end of period $ 1,907 $ — $ — $ — $ 1,907 CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (UNAUDITED) Common Stock Retained Treasury Accumulated Other Comprehensive Total Shareholders’ (Dollars in millions) Par Surplus Earnings Stock Loss Equity December 31, 2015 - as reported $ 482 $ 2,730 $ 23,204 $ (12,392 ) $ (3,286 ) $ 10,738 Cumulative-effect adjustment of ASC Topic 606 on January 1, 2016 — — (301 ) — 3 (298 ) December 31, 2015 - as adjusted 482 2,730 22,903 (12,392 ) (3,283 ) 10,440 First quarter 2016 - as reported — 10 483 (994 ) 345 (156 ) Effect of the adoption of ASU 2016-09 — (15 ) 15 — — — Effect of the adoption of ASC Topic 606 — — (91 ) — (1 ) (92 ) Effect of the adoption of ASU 2015-17 — — — — — — April 3, 2016 - as adjusted $ 482 $ 2,725 $ 23,310 $ (13,386 ) $ (2,939 ) $ 10,192

Summary Of Significant Accoun40

Summary Of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Jan. 01, 2017	Dec. 31, 2016
New Accounting Pronouncements
New Accounting Pronouncement, Cumulative Effect of Change on Equity			$ 3
Length of fiscal quarters, weeks	91 days
Accounting Standards Update 2016-16
New Accounting Pronouncements
New Accounting Pronouncement, Cumulative Effect of Change on Equity		$ 3

Revenue (Details)

Revenue (Details) $ / shares in Units, contract in Thousands, $ in Millions	3 Months Ended		12 Months Ended
	Apr. 02, 2017USD ($)contract$ / shares	Apr. 03, 2016USD ($)$ / shares	Dec. 31, 2016USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Operating earnings	$ 1,035	$ 924
Diluted | $ / shares	$ 2.48	$ 2.04
Unbilled revenue	$ 25,979		$ 25,543
Number of active contracts | contract	10
Revenue recognized in contract liability balance	$ 1,700	$ 1,400
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Operating earnings	$ 50	$ 58
Diluted | $ / shares	$ 0.11	$ 0.12
Unbilled revenue	$ 72	$ 68
Transferred over Time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, Percentage from Products and Services Transferred to Customers	70.00%	73.00%
Transferred at Point in Time
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, Percentage from Products and Services Transferred to Customers	30.00%	27.00%

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations to be Recognized as Revenue (Details) $ in Billions	Apr. 02, 2017USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Amount of remaining performance obligations to be recognized as revenue by period	$ 60.4
2,017
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Percentage Recognized	30.00%
2018-2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Percentage Recognized	45.00%

Revenue - Revenue by Customer (

Revenue - Revenue by Customer (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Revenue [Line Items]
Revenues	$ 7,441	$ 7,476
Aerospace
Revenue [Line Items]
Revenues	2,074	1,781
Combat Systems
Revenue [Line Items]
Revenues	1,287	1,245
Information Systems and Technology
Revenue [Line Items]
Revenues	2,146	2,328
Marine Systems
Revenue [Line Items]
Revenues	1,934	2,122
U.S. Government - Department of Defense
Revenue [Line Items]
Revenues	3,639	3,858
U.S. Government - Department of Defense | Aerospace
Revenue [Line Items]
Revenues	40	46
U.S. Government - Department of Defense | Combat Systems
Revenue [Line Items]
Revenues	587	514
U.S. Government - Department of Defense | Information Systems and Technology
Revenue [Line Items]
Revenues	1,175	1,306
U.S. Government - Department of Defense | Marine Systems
Revenue [Line Items]
Revenues	1,837	1,992
U.S. Government - Non Department of Defense
Revenue [Line Items]
Revenues	689	740
U.S. Government - Non Department of Defense | Aerospace
Revenue [Line Items]
Revenues	0	0
U.S. Government - Non Department of Defense | Combat Systems
Revenue [Line Items]
Revenues	24	20
U.S. Government - Non Department of Defense | Information Systems and Technology
Revenue [Line Items]
Revenues	665	718
U.S. Government - Non Department of Defense | Marine Systems
Revenue [Line Items]
Revenues	0	2
U.S. Government - Foreign Military Sales
Revenue [Line Items]
Revenues	187	169
U.S. Government - Foreign Military Sales | Aerospace
Revenue [Line Items]
Revenues	9	45
U.S. Government - Foreign Military Sales | Combat Systems
Revenue [Line Items]
Revenues	108	75
U.S. Government - Foreign Military Sales | Information Systems and Technology
Revenue [Line Items]
Revenues	12	12
U.S. Government - Foreign Military Sales | Marine Systems
Revenue [Line Items]
Revenues	58	37
U.S. Government
Revenue [Line Items]
Revenues	4,515	4,767
U.S. Government | Aerospace
Revenue [Line Items]
Revenues	49	91
U.S. Government | Combat Systems
Revenue [Line Items]
Revenues	719	609
U.S. Government | Information Systems and Technology
Revenue [Line Items]
Revenues	1,852	2,036
U.S. Government | Marine Systems
Revenue [Line Items]
Revenues	1,895	2,031
U.S. Commercial
Revenue [Line Items]
Revenues	1,119	1,200
U.S. Commercial | Aerospace
Revenue [Line Items]
Revenues	936	973
U.S. Commercial | Combat Systems
Revenue [Line Items]
Revenues	61	55
U.S. Commercial | Information Systems and Technology
Revenue [Line Items]
Revenues	89	87
U.S. Commercial | Marine Systems
Revenue [Line Items]
Revenues	33	85
Non U S Government
Revenue [Line Items]
Revenues	687	790
Non U S Government | Aerospace
Revenue [Line Items]
Revenues	5	77
Non U S Government | Combat Systems
Revenue [Line Items]
Revenues	502	547
Non U S Government | Information Systems and Technology
Revenue [Line Items]
Revenues	176	160
Non U S Government | Marine Systems
Revenue [Line Items]
Revenues	4	6
Non - U.S. Commercial
Revenue [Line Items]
Revenues	1,120	719
Non - U.S. Commercial | Aerospace
Revenue [Line Items]
Revenues	1,084	640
Non - U.S. Commercial | Combat Systems
Revenue [Line Items]
Revenues	5	34
Non - U.S. Commercial | Information Systems and Technology
Revenue [Line Items]
Revenues	29	45
Non - U.S. Commercial | Marine Systems
Revenue [Line Items]
Revenues	$ 2	$ 0

Revenue - Revenue by Product Li

Revenue - Revenue by Product Line (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Revenue [Line Items]
Revenues	$ 7,441	$ 7,476
Aerospace
Revenue [Line Items]
Revenues	2,074	1,781
Aerospace | Aircraft Manufacturing, Outfitting and Completions
Revenue [Line Items]
Revenues	1,629	1,376
Aerospace | Aircraft Services
Revenue [Line Items]
Revenues	435	401
Aerospace | Pre-Owned Aircraft
Revenue [Line Items]
Revenues	10	4
Combat Systems
Revenue [Line Items]
Revenues	1,287	1,245
Combat Systems | Wheeled Combat Vehicles
Revenue [Line Items]
Revenues	560	563
Combat Systems | Weapons Systems and Munitions
Revenue [Line Items]
Revenues	346	341
Combat Systems | Tanks and Tracked Vehicles
Revenue [Line Items]
Revenues	247	192
Combat Systems | Engineering and Other Services
Revenue [Line Items]
Revenues	134	149
Information Systems and Technology
Revenue [Line Items]
Revenues	2,146	2,328
Information Systems and Technology | Information Technology Services
Revenue [Line Items]
Revenues	1,058	1,142
Information Systems and Technology | C4ISR Solutions
Revenue [Line Items]
Revenues	1,088	1,186
Marine Systems
Revenue [Line Items]
Revenues	1,934	2,122
Marine Systems | Nuclear - Powered Submarines
Revenue [Line Items]
Revenues	1,204	1,387
Marine Systems | Surface Combatants
Revenue [Line Items]
Revenues	247	273
Marine Systems | Auxiliary and Commercial Ships
Revenue [Line Items]
Revenues	143	149
Marine Systems | Repair and Other Services
Revenue [Line Items]
Revenues	$ 340	$ 313

Revenue - Revenue by Contract T

Revenue - Revenue by Contract Type (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Revenue [Line Items]
Reimbursement Revenue	$ 2,018	$ 2,065
Revenues	7,441	7,476
Aerospace
Revenue [Line Items]
Reimbursement Revenue	0	0
Revenues	2,074	1,781
Combat Systems
Revenue [Line Items]
Reimbursement Revenue	207	216
Revenues	1,287	1,245
Information Systems and Technology
Revenue [Line Items]
Reimbursement Revenue	1,010	1,049
Revenues	2,146	2,328
Marine Systems
Revenue [Line Items]
Reimbursement Revenue	801	800
Revenues	1,934	2,122
Fixed-price Contract
Revenue [Line Items]
Revenues	5,035	5,063
Fixed-price Contract | Aerospace
Revenue [Line Items]
Revenues	1,902	1,641
Fixed-price Contract | Combat Systems
Revenue [Line Items]
Revenues	1,073	1,024
Fixed-price Contract | Information Systems and Technology
Revenue [Line Items]
Revenues	930	1,077
Fixed-price Contract | Marine Systems
Revenue [Line Items]
Revenues	1,130	1,321
Time-and-materials Contract
Revenue [Line Items]
Revenues	388	348
Time-and-materials Contract | Aerospace
Revenue [Line Items]
Revenues	172	140
Time-and-materials Contract | Combat Systems
Revenue [Line Items]
Revenues	7	5
Time-and-materials Contract | Information Systems and Technology
Revenue [Line Items]
Revenues	206	202
Time-and-materials Contract | Marine Systems
Revenue [Line Items]
Revenues	$ 3	$ 1

Acquisitions and Divestitures46

Acquisitions and Divestitures, Goodwill, and Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Goodwill and Intangible Assets Disclosure
Amortization expense	$ 19	$ 27
Sale of Axle Business | Discontinued Operations, Disposed of by Sale
Goodwill and Intangible Assets Disclosure
Final adjustment to loss in discontinued operations		$ 13

Acquisitions and Divestitures47

Acquisitions and Divestitures, Goodwill, and Intangible Assets Changes In Amount Of Goodwill (Detail) - USD ($) $ in Millions		3 Months Ended
		Apr. 02, 2017	Dec. 31, 2015
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	$ 11,445
Acquisitions	[2]	33
Other	[3]	54
Goodwill, end of period		11,532
Aerospace
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	2,537
Acquisitions	[2]	33
Other	[3]	35
Goodwill, end of period		2,605
Combat Systems
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	2,598
Acquisitions	[2]	0
Other	[3]	15
Goodwill, end of period		2,613
Information Systems and Technology
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	6,013
Acquisitions	[2]	0
Other	[3]	4
Goodwill, end of period		6,017
Accumulated impairment loss			$ 2,000
Marine Systems
Goodwill [Roll Forward]
Goodwill, beginning of period	[1]	297
Acquisitions	[2]	0
Other	[3]	0
Goodwill, end of period		$ 297
[1]	Goodwill on December 31, 2016, in the Information Systems and Technology reporting unit is net of $2 billion of accumulated impairment losses.
[2]	Includes adjustments during the purchase price allocation period.
[3]	Consists primarily of adjustments for foreign currency translation.

Acquisitions and Divestitures48

Acquisitions and Divestitures, Goodwill, and Intangible Assets Intangible Assets (Detail) - USD ($) $ in Millions		Apr. 02, 2017	Dec. 31, 2016
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	$ 2,355	$ 2,354
Accumulated Amortization		(1,676)	(1,676)
Net Carrying Amount		679	678
Contract and Program Intangible Assets
Intangible Assets [Line Items]
Gross Carrying Amount	[1],[2]	1,626	1,633
Accumulated Amortization	[2]	(1,273)	(1,281)
Net Carrying Amount	[2]	353	352
Trade Names and Trademarks
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	455	446
Accumulated Amortization		(146)	(139)
Net Carrying Amount		309	307
Technology and Software
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	120	121
Accumulated Amortization		(103)	(102)
Net Carrying Amount		17	19
Other Intangible Assets
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	154	154
Accumulated Amortization		(154)	(154)
Net Carrying Amount		$ 0	$ 0
[1]	Change in gross carrying amounts consists primarily of adjustments for foreign currency translation and acquired intangible assets.
[2]	Consists of acquired backlog and probable follow-on work and associated customer relationships.

Earnings Per Share (Detail)

Earnings Per Share (Detail) - shares shares in Thousands		3 Months Ended
		Apr. 02, 2017	Apr. 03, 2016	[1]
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (shares)		301,771	307,928
Dilutive effect of stock options and restricted stock/RSUs (shares)	[2]	5,511	5,571
Diluted weighted average shares outstanding (shares)		307,282	313,499
[1]	Prior-period information has been restated for the adoption of ASU 2016-09, which we adopted in the second quarter of 2016, resulting in an increased dilutive effect of stock options and restricted stock/RSUs. See Note Q for further discussion of our adoption of this accounting standard.
[2]	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 681 and 2,948 for the three-month periods ended April 2, 2017, and April 3, 2016, respectively.

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Stock Options and Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (shares)	681	2,948

Fair Value (Detail)

Fair Value (Detail) - USD ($) $ in Millions		Apr. 02, 2017	Dec. 31, 2016
Financial assets (liabilities)
Long-term debt, including current portion		$ (3,925)	$ (3,924)
Carrying Value
Financial assets (liabilities)
Available-for-sale securities	[1]	178	177
Cash flow hedges	[1]	(468)	(477)
Long-term debt, including current portion	[1]	(3,925)	(3,924)
Fair Value
Financial assets (liabilities)
Available-for-sale securities	[1]	178	177
Cash flow hedges	[1]	(468)	(477)
Long-term debt, including current portion	[1]	(3,850)	(3,849)
Fair Value, Inputs, Level 1
Financial assets (liabilities)
Available-for-sale securities	[1]	56	59
Cash flow hedges	[1]	0	0
Long-term debt, including current portion	[1]	0	0
Fair Value, Inputs, Level 2
Financial assets (liabilities)
Available-for-sale securities	[1],[2]	122	118
Cash flow hedges	[1],[2]	(468)	(477)
Long-term debt, including current portion	[1],[2]	(3,850)	(3,849)
Fair Value, Inputs, Level 3
Financial assets (liabilities)
Available-for-sale securities		0	0
Cash flow hedges		0	0
Long-term debt, including current portion		$ 0	$ 0
[1]	We had no Level 3 financial instruments on April 2, 2017, or December 31, 2016.
[2]	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.

Income Taxes Deferred Tax (Deta

Income Taxes Deferred Tax (Detail) - USD ($) $ in Millions	Apr. 02, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 487	$ 564
Deferred tax liability	(187)	(183)
Net deferred tax asset	$ 300	$ 381

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	Apr. 02, 2017USD ($)
Income Tax Disclosure [Abstract]
Possible chance of tax position sustained, percentage	50.00%
Amount of unrecorded benefit	$ 0

Unbilled Receivables (Detail)

Unbilled Receivables (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Apr. 02, 2017	Dec. 31, 2016
Contractors [Abstract]
Unbilled revenue	$ 25,979	$ 25,543
Advances and progress payments	(21,422)	(21,331)
Unbilled receivables	$ 4,557	$ 4,212

Inventory (Detail)

Inventory (Detail) - USD ($) $ in Millions	Apr. 02, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Work in process	$ 3,775	$ 3,643
Raw materials	1,383	1,429
Finished goods	25	24
Pre-owned aircraft	40	22
Other contract costs	599	699
Total inventories	$ 5,822	$ 5,817

Debt (Detail)

Debt (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total debt - principal	$ 3,925	$ 3,924
Less unamortized debt issuance costs and discounts	36	36
Total debt	3,889	3,888
Less current portion	901	900
Long-term debt	2,988	2,988
Fixed Rate Notes Due November 2017
Debt Instrument [Line Items]
Total debt - principal	$ 900	900
Interest Rate	1.00%
Fixed-Rate Notes Due July 2021
Debt Instrument [Line Items]
Total debt - principal	$ 500	500
Interest Rate	3.875%
Fixed Rate Notes Due November 2022
Debt Instrument [Line Items]
Total debt - principal	$ 1,000	1,000
Interest Rate	2.25%
Fixed Rate Notes Due August 2023
Debt Instrument [Line Items]
Total debt - principal	$ 500	500
Interest Rate	1.875%
Fixed Rate Notes Due August 2026
Debt Instrument [Line Items]
Total debt - principal	$ 500	500
Interest Rate	2.125%
Fixed Rate Notes Due November 2042
Debt Instrument [Line Items]
Total debt - principal	$ 500	500
Interest Rate	3.60%
Other Debt Securities
Debt Instrument [Line Items]
Total debt - principal	$ 25	$ 24
Other Interest rate	Various

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Millions	3 Months Ended
	Apr. 02, 2017USD ($)
Debt Instrument [Line Items]
Percentage of owned subsidiaries guaranteed	100.00%
Commercial paper	$ 0
Commercial Paper
Debt Instrument [Line Items]
Percentage of owned subsidiaries guaranteed	100.00%
Borrowing capacity	$ 2,000
Commercial Paper | Multi-Year Facility Expiring July 2018
Debt Instrument [Line Items]
Borrowing capacity	1,000
Commercial Paper | Multi-year Facility Expiring November 2020
Debt Instrument [Line Items]
Borrowing capacity	$ 1,000

Liabilities Balance (Detail)

Liabilities Balance (Detail) - USD ($) $ in Millions		Apr. 02, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Salaries and wages		$ 639	$ 693
Fair value of cash flow hedges		502	521
Workers' compensation		334	337
Retirement benefits		293	303
Other	[1]	1,344	1,331
Total other current liabilities		3,112	3,185
Retirement benefits		4,359	4,393
Customer deposits on commercial contracts		765	719
Deferred income taxes		187	183
Other	[2]	1,164	1,138
Total other liabilities		$ 6,475	$ 6,433
[1]	Consists primarily of dividends payable, taxes payable, environmental remediation reserves, warranty reserves, deferred revenue and supplier contributions in the Aerospace group, liabilities of discontinued operations, and insurance-related costs.
[2]	Consists primarily of warranty reserves, workers’ compensation liabilities and liabilities of discontinued operations.

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016	Mar. 01, 2017
Class of Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			10
Stock repurchased during the period, shares	1.9	7.8
Stock repurchased during the period, value	$ 355	$ 1,000
Remaining number of shares authorized to be repurchased, shares	13.5
Shares remaining to be repurchased as a percent of total shares outstanding	4.00%
Recognized net actuarial loss (before tax)	$ 85	83
Amortization of prior service credit (before tax)	18	19
Purchases of common stock	$ 354	$ 1,026
Dividends declared per share	$ 0.84	$ 0.76
Dividends paid in cash	$ 230	$ 215

Shareholders' Equity - Changes

Shareholders' Equity - Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Period Start	$ (3,387)	$ (3,283)
Other comprehensive income (loss) pretax	169	413
Provision (benefit) for income tax, net	44	69
Other comprehensive income (loss) net of tax	125	344
Balance, Period End	(3,262)	(2,939)
Losses on Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Period Start	(345)	(487)
Other comprehensive income (loss) pretax	13	182
Provision (benefit) for income tax, net	4	45
Other comprehensive income (loss) net of tax	9	137
Balance, Period End	(336)	(350)
Unrealized Gains on Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Period Start	14	20
Other comprehensive income (loss) pretax	5	(9)
Provision (benefit) for income tax, net	1	(3)
Other comprehensive income (loss) net of tax	4	(6)
Balance, Period End	18	14
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Period Start	69	181
Other comprehensive income (loss) pretax	82	180
Provision (benefit) for income tax, net	15	5
Other comprehensive income (loss) net of tax	67	175
Balance, Period End	136	356
Changes in Retirement Plans’ Funded Status
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, Period Start	(3,125)	(2,997)
Other comprehensive income (loss) pretax	69	60
Provision (benefit) for income tax, net	24	22
Other comprehensive income (loss) net of tax	45	38
Balance, Period End	$ (3,080)	$ (2,959)

Derivative Instruments And He61

Derivative Instruments And Hedging Activities - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Dec. 31, 2016	Apr. 03, 2016	Dec. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Notional forward foreign exchange contracts outstanding	$ 6,200	$ 6,300
Average maturity of foreign currency forward contracts, in years	3 years
Fair value hedges	$ 0	0
Net investment hedges	0	0
Cash and equivalents	$ 2,168	$ 2,334	$ 1,907	$ 2,785
Maximum
Derivative Instruments, Gain (Loss) [Line Items]
Maturity of fixed-income securities, in years	5 years

Commitments And Contingencies -

Commitments And Contingencies - Additional Information (Detail) $ in Billions	3 Months Ended
	Apr. 02, 2017USD ($)
Other Commitments [Line Items]
Letters of credit and guarantees	$ 1.1
Maximum
Other Commitments [Line Items]
Period preceding delivery of aircraft to customer fair market value of trade-in aircraft is established, days, maximum	45 days

Commitments And Contingencies P

Commitments And Contingencies Product Guarantee (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 474	$ 434
Warranty expense	35	23
Payments	(21)	(22)
Adjustments	0	(1)
Ending balance	$ 488	$ 434

Retirement Plans Benefits Plans

Retirement Plans Benefits Plans (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Pension Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 42	$ 44
Interest cost	113	114
Expected return on plan assets	(169)	(178)
Recognized net actuarial loss (gain)	86	84
Amortization of prior service credit	(17)	(17)
Net periodic benefit cost	55	47
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Service cost	3	3
Interest cost	8	8
Expected return on plan assets	(8)	(8)
Recognized net actuarial loss (gain)	(1)	(1)
Amortization of prior service credit	(1)	(2)
Net periodic benefit cost	$ 1	$ 0

Business Group Information - Ad

Business Group Information - Additional Information (Detail)	3 Months Ended
	Apr. 02, 2017Segment
Disclosure Business Group Information Additional Information [Abstract]
Number of operating business groups (segment)	4

Segment Reporting Information (

Segment Reporting Information (Detail) - USD ($) $ in Millions		3 Months Ended
		Apr. 02, 2017	Apr. 03, 2016
Segment Reporting Information [Line Items]
Revenues		$ 7,441	$ 7,476
Operating earnings		1,035	924
Aerospace
Segment Reporting Information [Line Items]
Revenues		2,074	1,781
Operating earnings		443	332
Combat Systems
Segment Reporting Information [Line Items]
Revenues		1,287	1,245
Operating earnings		205	187
Information Systems and Technology
Segment Reporting Information [Line Items]
Revenues		2,146	2,328
Operating earnings		236	237
Marine Systems
Segment Reporting Information [Line Items]
Revenues		1,934	2,122
Operating earnings		161	184
Corporate
Segment Reporting Information [Line Items]
Revenues	[1]	0	0
Operating earnings	[1]	$ (10)	$ (16)
[1]	* Corporate operating results consist primarily of stock option expense.

Condensed Consolidating Finan67

Condensed Consolidating Financial Statements Narrative (Details)	3 Months Ended
	Apr. 02, 2017
Consolidating Financial Statements [Abstract]
Percentage of owned subsidiaries (the guarantors)	100.00%

Condensed Consolidating Finan68

Condensed Consolidating Financial Statements Condensed Consolidating Statements Of Earnings (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
Revenue:
Revenues	$ 7,441	$ 7,476
Operating costs and expenses:
Cost of sales	5,925	6,091
General and administrative (G&A)	481	461
Operating earnings	1,035	924
Interest, net	(25)	(22)
Other, net	0	10
Earnings before income tax	1,010	912
Provision for income tax, net	247	258
Discontinued operations, net of tax	0	(13)
Equity in net earnings of subsidiaries	0	0
Net earnings	763	641
Comprehensive income	888	985
Consolidating Adjustments
Revenue:
Revenues	0	0
Operating costs and expenses:
Cost of sales	0	0
General and administrative (G&A)	0	0
Operating earnings	0	0
Interest, net	0	0
Other, net		0
Earnings before income tax	0	0
Provision for income tax, net	0	0
Discontinued operations, net of tax		0
Equity in net earnings of subsidiaries	(728)	(654)
Net earnings	(728)	(654)
Comprehensive income	(824)	(965)
Parent Company
Revenue:
Revenues	0	0
Operating costs and expenses:
Cost of sales	(3)	4
General and administrative (G&A)	11	11
Operating earnings	(8)	(15)
Interest, net	(24)	(23)
Other, net		10
Earnings before income tax	(32)	(28)
Provision for income tax, net	(67)	(28)
Discontinued operations, net of tax		(13)
Equity in net earnings of subsidiaries	728	654
Net earnings	763	641
Comprehensive income	888	985
Guarantor Subsidiaries
Revenue:
Revenues	6,544	6,599
Operating costs and expenses:
Cost of sales	5,241	5,391
General and administrative (G&A)	394	379
Operating earnings	909	829
Interest, net	0	0
Other, net		0
Earnings before income tax	909	829
Provision for income tax, net	293	262
Discontinued operations, net of tax		0
Equity in net earnings of subsidiaries	0	0
Net earnings	616	567
Comprehensive income	617	565
Non-Guarantor Subsidiaries
Revenue:
Revenues	897	877
Operating costs and expenses:
Cost of sales	687	696
General and administrative (G&A)	76	71
Operating earnings	134	110
Interest, net	(1)	1
Other, net		0
Earnings before income tax	133	111
Provision for income tax, net	21	24
Discontinued operations, net of tax		0
Equity in net earnings of subsidiaries	0	0
Net earnings	112	87
Comprehensive income	$ 207	$ 400

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Millions	Apr. 02, 2017	Dec. 31, 2016		Apr. 03, 2016	Dec. 31, 2015
Current assets:
Cash and equivalents	$ 2,168	$ 2,334		$ 1,907	$ 2,785
Accounts receivable	3,483	3,399
Unbilled receivables	4,557	4,212
Inventories	5,822	5,817
Other current assets	584	772
Total current assets	16,614	16,534
Noncurrent assets:
Property, plant and equipment	3,412	3,477
Intangible assets	679	678
Goodwill	11,532	11,445	[1]
Other assets	974	1,038
Investment in subsidiaries	0	0
Total noncurrent assets	16,597	16,638
Total assets	33,211	33,172
Current liabilities:
Short-term debt	901	900
Customer advances and deposits	6,686	6,827
Other current liabilities	5,578	5,723
Total current liabilities	13,165	13,450
Noncurrent liabilities:
Long-term debt	2,988	2,988
Other liabilities	6,475	6,433
Total noncurrent liabilities	9,463	9,421
Intercompany	0	0
Shareholders’ equity:
Common stock	482	482
Other shareholders' equity	10,101	9,819
Total shareholders’ equity	10,583	10,301		10,192	10,440
Total liabilities and shareholders’ equity	33,211	33,172
Consolidating Adjustments
Current assets:
Cash and equivalents	0	0		0
Accounts receivable	0	0
Unbilled receivables	0	0
Inventories	0	0
Other current assets	0	0
Total current assets	0	0
Noncurrent assets:
Property, plant and equipment	0	0
Intangible assets	0	0
Goodwill	0	0
Other assets	0	0
Investment in subsidiaries	(41,618)	(41,956)
Total noncurrent assets	(41,618)	(41,956)
Total assets	(41,618)	(41,956)
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	(2,360)	(2,360)
Other shareholders' equity	(39,258)	(39,596)
Total shareholders’ equity	(41,618)	(41,956)
Total liabilities and shareholders’ equity	(41,618)	(41,956)
Parent Company
Current assets:
Cash and equivalents	1,051	1,254		986	1,732
Accounts receivable	0	0
Unbilled receivables	0	0
Inventories	238	304
Other current assets	142	330
Total current assets	1,431	1,888
Noncurrent assets:
Property, plant and equipment	131	130
Intangible assets	0	0
Goodwill	0	0
Other assets	577	640
Investment in subsidiaries	41,618	41,956
Total noncurrent assets	42,326	42,726
Total assets	43,757	44,614
Current liabilities:
Short-term debt	898	898
Customer advances and deposits	0	0
Other current liabilities	599	564
Total current liabilities	1,497	1,462
Noncurrent liabilities:
Long-term debt	2,966	2,966
Other liabilities	2,398	3,520
Total noncurrent liabilities	5,364	6,486
Intercompany	26,313	26,365
Shareholders’ equity:
Common stock	482	482
Other shareholders' equity	10,101	9,819
Total shareholders’ equity	10,583	10,301
Total liabilities and shareholders’ equity	43,757	44,614
Guarantor Subsidiaries
Current assets:
Cash and equivalents	0	0		0
Accounts receivable	1,156	1,155
Unbilled receivables	2,563	2,235
Inventories	5,485	5,417
Other current assets	195	204
Total current assets	9,399	9,011
Noncurrent assets:
Property, plant and equipment	2,854	2,933
Intangible assets	255	265
Goodwill	8,052	8,050
Other assets	244	232
Investment in subsidiaries	0	0
Total noncurrent assets	11,405	11,480
Total assets	20,804	20,491
Current liabilities:
Short-term debt	3	2
Customer advances and deposits	4,053	4,339
Other current liabilities	3,406	3,465
Total current liabilities	7,462	7,806
Noncurrent liabilities:
Long-term debt	22	22
Other liabilities	3,475	2,330
Total noncurrent liabilities	3,497	2,352
Intercompany	(26,259)	(25,827)
Shareholders’ equity:
Common stock	6	6
Other shareholders' equity	36,098	36,154
Total shareholders’ equity	36,104	36,160
Total liabilities and shareholders’ equity	20,804	20,491
Non-Guarantor Subsidiaries
Current assets:
Cash and equivalents	1,117	1,080		$ 921	$ 1,053
Accounts receivable	2,327	2,244
Unbilled receivables	1,994	1,977
Inventories	99	96
Other current assets	247	238
Total current assets	5,784	5,635
Noncurrent assets:
Property, plant and equipment	427	414
Intangible assets	424	413
Goodwill	3,480	3,395
Other assets	153	166
Investment in subsidiaries	0	0
Total noncurrent assets	4,484	4,388
Total assets	10,268	10,023
Current liabilities:
Short-term debt	0	0
Customer advances and deposits	2,633	2,488
Other current liabilities	1,573	1,694
Total current liabilities	4,206	4,182
Noncurrent liabilities:
Long-term debt	0	0
Other liabilities	602	583
Total noncurrent liabilities	602	583
Intercompany	(54)	(538)
Shareholders’ equity:
Common stock	2,354	2,354
Other shareholders' equity	3,160	3,442
Total shareholders’ equity	5,514	5,796
Total liabilities and shareholders’ equity	$ 10,268	$ 10,023
[1]	Goodwill on December 31, 2016, in the Information Systems and Technology reporting unit is net of $2 billion of accumulated impairment losses.

Condensed Consolidating Stateme

Condensed Consolidating Statements Of Cash Flows (Detail) - USD ($) $ in Millions		3 Months Ended
		Apr. 02, 2017	Apr. 03, 2016
Condensed Financial Statements [Line Items]
Net cash provided by operating activities	[1]	$ 533	$ 480
Cash flows from investing activities:
Capital expenditures		(62)	(65)
Other, net		(23)	(53)
Net cash used by investing activities		(85)	(118)
Cash flows from financing activities:
Purchases of common stock		(354)	(1,026)
Dividends paid		(230)	(215)
Other, net		(22)	7
Net cash used by financing activities		(606)	(1,234)
Net cash used by discontinued operations		(8)	(6)
Cash sweep/funding by parent		0	0
Net increase (decrease) in cash and equivalents		(166)	(878)
Cash and equivalents at beginning of period		2,334	2,785
Cash and equivalents at end of period		2,168	1,907
Consolidating Adjustments
Condensed Financial Statements [Line Items]
Net cash provided by operating activities	[1]	0	0
Cash flows from investing activities:
Capital expenditures		0	0
Other, net		0	0
Net cash used by investing activities		0	0
Cash flows from financing activities:
Purchases of common stock		0	0
Dividends paid		0	0
Other, net		0	0
Net cash used by financing activities		0	0
Net cash used 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
Cash and equivalents at end of period		0	0
Parent Company
Condensed Financial Statements [Line Items]
Net cash provided by operating activities	[1]	(9)	102
Cash flows from investing activities:
Capital expenditures		(3)	(1)
Other, net		(1)	6
Net cash used by investing activities		(4)	5
Cash flows from financing activities:
Purchases of common stock		(354)	(1,026)
Dividends paid		(230)	(215)
Other, net		(21)	7
Net cash used by financing activities		(605)	(1,234)
Net cash used by discontinued operations		(8)	(6)
Cash sweep/funding by parent		423	387
Net increase (decrease) in cash and equivalents		(203)	(746)
Cash and equivalents at beginning of period		1,254	1,732
Cash and equivalents at end of period		1,051	986
Guarantor Subsidiaries
Condensed Financial Statements [Line Items]
Net cash provided by operating activities	[1]	442	314
Cash flows from investing activities:
Capital expenditures		(42)	(58)
Other, net		29	(21)
Net cash used by investing activities		(13)	(79)
Cash flows from financing activities:
Purchases of common stock		0	0
Dividends paid		0	0
Other, net		(1)	0
Net cash used by financing activities		(1)	0
Net cash used by discontinued operations		0	0
Cash sweep/funding by parent		(428)	(235)
Net increase (decrease) in cash and equivalents		0	0
Cash and equivalents at beginning of period		0
Cash and equivalents at end of period		0	0
Non-Guarantor Subsidiaries
Condensed Financial Statements [Line Items]
Net cash provided by operating activities	[1]	100	64
Cash flows from investing activities:
Capital expenditures		(17)	(6)
Other, net		(51)	(38)
Net cash used by investing activities		(68)	(44)
Cash flows from financing activities:
Purchases of common stock		0	0
Dividends paid		0	0
Other, net		0	0
Net cash used by financing activities		0	0
Net cash used by discontinued operations		0	0
Cash sweep/funding by parent		5	(152)
Net increase (decrease) in cash and equivalents		37	(132)
Cash and equivalents at beginning of period		1,080	1,053
Cash and equivalents at end of period		$ 1,117	$ 921
[1]	* Continuing operations only

Prior-Period Financial Statem71

Prior-Period Financial Statements - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2016	Jan. 01, 2015
New Accounting Pronouncements
New Accounting Pronouncement, Cumulative Effect of Change on Equity	$ (3)
Accounting Standards Update 2014-09
New Accounting Pronouncements
New Accounting Pronouncement, Cumulative Effect of Change on Equity		$ (372)

Prior-Period Financial Statem72

Prior-Period Financial Statements - Consolidated Statement of Earnings (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
New Accounting Pronouncements
Products	$ 4,467	$ 4,582
Services	2,974	2,894
Revenues	7,441	7,476
Products	3,436	3,635
Services	2,489	2,456
General and administrative (G&A)	481	461
Operating costs and expenses, total	6,406	6,552
Operating earnings	1,035	924
Interest, net	(25)	(22)
Other, net	0	10
Earnings from continuing operations before income tax	1,010	912
Provision for income tax, net	247	258
Earnings from continuing operations	763	654
Discontinued operations, net of tax	0	(13)
Net earnings	$ 763	$ 641
Continuing operations	$ 2.53	$ 2.12
Discontinued operations	0	(0.04)
Basic	2.53	2.08
Continuing operations	2.48	2.08
Discontinued operations	0	(0.04)
Diluted	$ 2.48	$ 2.04
Previously Reported
New Accounting Pronouncements
Products		$ 4,864
Services		2,860
Revenues		7,724
Products		3,784
Services		2,427
General and administrative (G&A)		460
Operating costs and expenses, total		6,671
Operating earnings		1,053
Interest, net		(22)
Other, net		10
Earnings from continuing operations before income tax		1,041
Provision for income tax, net		311
Earnings from continuing operations		730
Discontinued operations, net of tax		(13)
Net earnings		$ 717
Continuing operations		$ 2.37
Discontinued operations		(0.04)
Basic		2.33
Continuing operations		2.34
Discontinued operations		(0.04)
Diluted		$ 2.30
Restatement Adjustment | Accounting Standards Update 2016-09
New Accounting Pronouncements
Products		$ 0
Services		0
Revenues		0
Products		0
Services		0
General and administrative (G&A)		0
Operating costs and expenses, total		0
Operating earnings		0
Interest, net		0
Other, net		0
Earnings from continuing operations before income tax		0
Provision for income tax, net		(15)
Earnings from continuing operations		15
Discontinued operations, net of tax		0
Net earnings		$ 15
Continuing operations		$ 0.05
Discontinued operations		0
Basic		0.05
Continuing operations		0.03
Discontinued operations		0
Diluted		$ 0.03
Restatement Adjustment | Accounting Standards Update 2014-09
New Accounting Pronouncements
Products		$ (282)
Services		34
Revenues		(248)
Products		(149)
Services		29
General and administrative (G&A)		1
Operating costs and expenses, total		(119)
Operating earnings		(129)
Interest, net		0
Other, net		0
Earnings from continuing operations before income tax		(129)
Provision for income tax, net		(38)
Earnings from continuing operations		(91)
Discontinued operations, net of tax		0
Net earnings		$ (91)
Continuing operations		$ (0.30)
Discontinued operations		0
Basic		(0.30)
Continuing operations		(0.29)
Discontinued operations		0
Diluted		$ (0.29)
Restatement Adjustment | Accounting Standards Update 2015-17
New Accounting Pronouncements
Products		$ 0
Services		0
Revenues		0
Products		0
Services		0
General and administrative (G&A)		0
Operating costs and expenses, total		0
Operating earnings		0
Interest, net		0
Other, net		0
Earnings from continuing operations before income tax		0
Provision for income tax, net		0
Earnings from continuing operations		0
Discontinued operations, net of tax		0
Net earnings		$ 0
Continuing operations		$ 0
Discontinued operations		0
Basic		0
Continuing operations		0
Discontinued operations		0
Diluted		$ 0

Prior-Period Financial Statem73

Prior-Period Financial Statements - Consolidated Statement of Comprehensive Income (Unaudited) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2017	Apr. 03, 2016
New Accounting Pronouncements
Net earnings	$ 763	$ 641
Gains on cash flow hedges	13	182
Unrealized gains (losses) on securities	5	(9)
Foreign currency translation adjustments	82	180
Change in retirement plans' funded status	69	60
Other comprehensive income, pretax	169	413
Provision for income tax, net	44	69
Other comprehensive income	125	344
Comprehensive income	$ 888	985
Previously Reported
New Accounting Pronouncements
Net earnings		717
Gains on cash flow hedges		182
Unrealized gains (losses) on securities		(9)
Foreign currency translation adjustments		181
Change in retirement plans' funded status		60
Other comprehensive income, pretax		414
Provision for income tax, net		69
Other comprehensive income		345
Comprehensive income		1,062
Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Net earnings		15
Gains on cash flow hedges		0
Unrealized gains (losses) on securities		0
Foreign currency translation adjustments		0
Change in retirement plans' funded status		0
Other comprehensive income, pretax		0
Provision for income tax, net		0
Other comprehensive income		0
Comprehensive income		15
Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Net earnings		(91)
Gains on cash flow hedges		0
Unrealized gains (losses) on securities		0
Foreign currency translation adjustments		(1)
Change in retirement plans' funded status		0
Other comprehensive income, pretax		(1)
Provision for income tax, net		0
Other comprehensive income		(1)
Comprehensive income		(92)
Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Net earnings		0
Gains on cash flow hedges		0
Unrealized gains (losses) on securities		0
Foreign currency translation adjustments		0
Change in retirement plans' funded status		0
Other comprehensive income, pretax		0
Provision for income tax, net		0
Other comprehensive income		0
Comprehensive income		$ 0

Prior-Period Financial Statem74

Prior-Period Financial Statements - Consolidated Balance Sheet (Unaudited) (Details) - USD ($) $ in Millions	Apr. 02, 2017	Dec. 31, 2016		Apr. 03, 2016	Dec. 31, 2015
New Accounting Pronouncements
Cash and equivalents	$ 2,168	$ 2,334		$ 1,907	$ 2,785
Accounts receivable	3,483	3,399
Unbilled receivables	4,557	4,212
Inventories	5,822	5,817
Other current assets	584	772
Total current assets	16,614	16,534
Property, plant and equipment, net	3,412	3,477
Intangible assets, net	679	678
Goodwill	11,532	11,445	[1]
Other assets	974	1,038
Total noncurrent assets	16,597	16,638
Total assets	33,211	33,172
Less current portion	901	900
Accounts payable	2,466	2,538
Customer advances and deposits	6,686	6,827
Other current liabilities	3,112	3,185
Total current liabilities	13,165	13,450
Long-term debt	2,988	2,988
Other liabilities	6,475	6,433
Commitments and contingencies
Total noncurrent liabilities	9,463	9,421
Common stock	482	482
Surplus	2,762	2,819
Retained earnings	25,049	24,543
Treasury stock	(14,448)	(14,156)
Accumulated other comprehensive loss	(3,262)	(3,387)		(2,939)	(3,283)
Total shareholders’ equity	10,583	10,301		10,192	10,440
Total liabilities and shareholders’ equity	33,211	33,172
Noncurrent deferred tax liabilities	$ 187	183
Previously Reported
New Accounting Pronouncements
Cash and equivalents		2,334		1,907	2,785
Accounts receivable		3,611
Unbilled receivables		5,282
Inventories		3,523
Other current assets		697
Total current assets		15,447
Property, plant and equipment, net		3,467
Intangible assets, net		678
Goodwill		11,445
Other assets		1,835
Total noncurrent assets		17,425
Total assets		32,872
Less current portion		900
Accounts payable		2,538
Customer advances and deposits		4,939
Other current liabilities		4,469
Total current liabilities		12,846
Long-term debt		2,988
Other liabilities		6,062
Total noncurrent liabilities		9,050
Common stock		482
Surplus		2,819
Retained earnings		25,227
Treasury stock		(14,156)
Accumulated other comprehensive loss		(3,396)
Total shareholders’ equity		10,976		(156)	10,738
Total liabilities and shareholders’ equity		32,872
Accounting Standards Update 2015-17
New Accounting Pronouncements
Current deferred tax assets		10
Noncurrent deferred tax assets		10
Current deferred tax liabilities		335
Noncurrent deferred tax liabilities		335
Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Cash and equivalents		0		0	0
Accounts receivable		0
Unbilled receivables		0
Inventories		0
Other current assets		(15)
Total current assets		(15)
Property, plant and equipment, net		0
Intangible assets, net		0
Goodwill		0
Other assets		(797)
Total noncurrent assets		(797)
Total assets		(812)
Less current portion		0
Accounts payable		0
Customer advances and deposits		0
Other current liabilities		(923)
Total current liabilities		(923)
Long-term debt		0
Other liabilities		111
Total noncurrent liabilities		111
Common stock		0
Surplus		0
Retained earnings		0
Treasury stock		0
Accumulated other comprehensive loss		0
Total shareholders’ equity		0		0
Total liabilities and shareholders’ equity		(812)
Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Cash and equivalents		0		0	0
Accounts receivable		0
Unbilled receivables		0
Inventories		0
Other current assets		0
Total current assets		0
Property, plant and equipment, net		0
Intangible assets, net		0
Goodwill		0
Other assets		0
Total noncurrent assets		0
Total assets		0
Less current portion		0
Accounts payable		0
Customer advances and deposits		0
Other current liabilities		0
Total current liabilities		0
Long-term debt		0
Other liabilities		0
Total noncurrent liabilities		0
Common stock		0
Surplus		0
Retained earnings		0
Treasury stock		0
Accumulated other comprehensive loss		0
Total shareholders’ equity		0		0
Total liabilities and shareholders’ equity		0
Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Cash and equivalents		0		0	$ 0
Accounts receivable		(212)
Unbilled receivables		(1,070)
Inventories		2,294
Other current assets		90
Total current assets		1,102
Property, plant and equipment, net		10
Intangible assets, net		0
Goodwill		0
Other assets		0
Total noncurrent assets		10
Total assets		1,112
Less current portion		0
Accounts payable		0
Customer advances and deposits		1,888
Other current liabilities		(361)
Total current liabilities		1,527
Long-term debt		0
Other liabilities		260
Commitments and contingencies
Total noncurrent liabilities		260
Common stock		0
Surplus		0
Retained earnings		(684)
Treasury stock		0
Accumulated other comprehensive loss		9
Total shareholders’ equity		(675)		$ (92)
Total liabilities and shareholders’ equity		$ 1,112
[1]	Goodwill on December 31, 2016, in the Information Systems and Technology reporting unit is net of $2 billion of accumulated impairment losses.

Prior-Period Financial Statem75

Prior-Period Financial Statements - Consolidated Statement of Cash Flows (Unaudited) (Details) - USD ($) $ in Millions		3 Months Ended
		Apr. 02, 2017	Apr. 03, 2016
New Accounting Pronouncements
Net earnings		$ 763	$ 641
Depreciation of property, plant and equipment		92	89
Amortization of intangible assets		19	27
Equity-based compensation expense		22	27
Excess tax benefit from equity-based compensation			0
Deferred income tax provision (benefit)		45	(18)
Discontinued operations		0	13
Accounts receivable		(84)	(210)
Unbilled receivables		(338)	(276)
Inventories		2	(221)
Accounts payable		(72)	179
Customer advances and deposits		(95)	(18)
Income taxes payable		202	253
Other current liabilities		(76)	(52)
Other, net		53	46
Net cash provided by operating activities	[1]	533	480
Capital expenditures		(62)	(65)
Other, net		(23)	(53)
Net cash used by investing activities		(85)	(118)
Purchases of common stock		(354)	(1,026)
Dividends paid		(230)	(215)
Other, net		(22)	7
Net cash used by financing activities		(606)	(1,234)
Net cash used by discontinued operations		(8)	(6)
Net decrease in cash and equivalents		(166)	(878)
Cash and equivalents at beginning of period		2,334	2,785
Cash and equivalents at end of period		2,168	1,907
Previously Reported
New Accounting Pronouncements
Net earnings			717
Depreciation of property, plant and equipment			90
Amortization of intangible assets			27
Equity-based compensation expense			27
Excess tax benefit from equity-based compensation			(15)
Deferred income tax provision (benefit)			20
Discontinued operations			13
Accounts receivable			(195)
Unbilled receivables			(337)
Inventories			(133)
Accounts payable			179
Customer advances and deposits			(209)
Income taxes payable			268
Other current liabilities			(70)
Other, net			57
Net cash provided by operating activities			439
Capital expenditures			(65)
Other, net			(53)
Net cash used by investing activities			(118)
Purchases of common stock			(1,026)
Dividends paid			(215)
Other, net			48
Net cash used by financing activities			(1,193)
Net cash used by discontinued operations			(6)
Net decrease in cash and equivalents			(878)
Cash and equivalents at beginning of period		2,334	2,785
Cash and equivalents at end of period			1,907
Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Net earnings			15
Depreciation of property, plant and equipment			0
Amortization of intangible assets			0
Equity-based compensation expense			0
Excess tax benefit from equity-based compensation			15
Deferred income tax provision (benefit)			0
Discontinued operations			0
Accounts receivable			0
Unbilled receivables			0
Inventories			0
Accounts payable			0
Customer advances and deposits			0
Income taxes payable			(15)
Other current liabilities			26
Other, net			0
Net cash provided by operating activities			41
Capital expenditures			0
Other, net			0
Net cash used by investing activities			0
Purchases of common stock			0
Dividends paid			0
Other, net			(41)
Net cash used by financing activities			(41)
Net cash used by discontinued operations			0
Net decrease in cash and equivalents			0
Cash and equivalents at beginning of period		0	0
Cash and equivalents at end of period			0
Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Net earnings			(91)
Depreciation of property, plant and equipment			(1)
Amortization of intangible assets			0
Equity-based compensation expense			0
Excess tax benefit from equity-based compensation			0
Deferred income tax provision (benefit)			(38)
Discontinued operations			0
Accounts receivable			(15)
Unbilled receivables			61
Inventories			(88)
Accounts payable			0
Customer advances and deposits			191
Income taxes payable			0
Other current liabilities			(8)
Other, net			(11)
Net cash provided by operating activities			0
Capital expenditures			0
Other, net			0
Net cash used by investing activities			0
Purchases of common stock			0
Dividends paid			0
Other, net			0
Net cash used by financing activities			0
Net cash used by discontinued operations			0
Net decrease in cash and equivalents			0
Cash and equivalents at beginning of period		0	0
Cash and equivalents at end of period			0
Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Net earnings			0
Depreciation of property, plant and equipment			0
Amortization of intangible assets			0
Equity-based compensation expense			0
Excess tax benefit from equity-based compensation			0
Deferred income tax provision (benefit)			0
Discontinued operations			0
Accounts receivable			0
Unbilled receivables			0
Inventories			0
Accounts payable			0
Customer advances and deposits			0
Income taxes payable			0
Other current liabilities			0
Other, net			0
Net cash provided by operating activities			0
Capital expenditures			0
Other, net			0
Net cash used by investing activities			0
Purchases of common stock			0
Dividends paid			0
Other, net			0
Net cash used by financing activities			0
Net cash used by discontinued operations			0
Net decrease in cash and equivalents			0
Cash and equivalents at beginning of period		$ 0	0
Cash and equivalents at end of period			$ 0
[1]	* Continuing operations only

Prior-Period Financial Statem76

Prior-Period Financial Statements - Consolidated Statement of Shareholders' Equity (Unaudited) (Details) - USD ($) $ in Millions	Apr. 02, 2017	Dec. 31, 2016	Apr. 03, 2016	Dec. 31, 2015
New Accounting Pronouncements
Total shareholders’ equity	$ 10,583	$ 10,301	$ 10,192	$ 10,440
Cumulative-effect adjustment of ASC Topic 606 on January 1, 2016				(298)
Total shareholders' equity				10,440
Previously Reported
New Accounting Pronouncements
Total shareholders’ equity		10,976	(156)	10,738
Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity		0	0
Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity		(675)	(92)
Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity		0	0
Common Stock, Par
New Accounting Pronouncements
Total shareholders’ equity	482	482	482	482
Total shareholders' equity				482
Common Stock, Par | Previously Reported
New Accounting Pronouncements
Total shareholders’ equity			0
Common Stock, Par | Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Common Stock, Par | Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Common Stock, Par | Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Common Stock, Surplus
New Accounting Pronouncements
Total shareholders’ equity	2,762	2,819	2,725	2,730
Total shareholders' equity				2,730
Common Stock, Surplus | Previously Reported
New Accounting Pronouncements
Total shareholders’ equity			10
Common Stock, Surplus | Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			(15)
Common Stock, Surplus | Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Common Stock, Surplus | Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Retained Earnings
New Accounting Pronouncements
Total shareholders’ equity	25,049	24,543	23,310	22,903
Cumulative-effect adjustment of ASC Topic 606 on January 1, 2016				(301)
Total shareholders' equity				22,903
Retained Earnings | Previously Reported
New Accounting Pronouncements
Total shareholders’ equity			483	23,204
Retained Earnings | Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			15
Retained Earnings | Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			(91)
Retained Earnings | Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Treasury Stock
New Accounting Pronouncements
Total shareholders’ equity	(14,448)	(14,156)	(13,386)	(12,392)
Total shareholders' equity				(12,392)
Treasury Stock | Previously Reported
New Accounting Pronouncements
Total shareholders’ equity			(994)
Treasury Stock | Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Treasury Stock | Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Treasury Stock | Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Accumulated Other Comprehensive Loss
New Accounting Pronouncements
Total shareholders’ equity	$ (3,262)	$ (3,387)	(2,939)	(3,283)
Cumulative-effect adjustment of ASC Topic 606 on January 1, 2016				3
Total shareholders' equity				(3,283)
Accumulated Other Comprehensive Loss | Previously Reported
New Accounting Pronouncements
Total shareholders’ equity			345	$ (3,286)
Accumulated Other Comprehensive Loss | Accounting Standards Update 2016-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			0
Accumulated Other Comprehensive Loss | Accounting Standards Update 2014-09 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			(1)
Accumulated Other Comprehensive Loss | Accounting Standards Update 2015-17 | Restatement Adjustment
New Accounting Pronouncements
Total shareholders’ equity			$ 0