General Dynamics (GD) 10-Q24 Apr 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover

Cover	3 Months Ended
Cover	Mar. 31, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-3671
Entity Registrant Name	GENERAL DYNAMICS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-1673581
Entity Address, Address Line One	11011 Sunset Hills Road
Entity Address, City or Town	Reston,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20190
City Area Code	703
Local Phone Number	876-3000
Title of 12(b) Security	Common Stock
Trading Symbol	GD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	274,364,084
Entity Central Index Key	0000040533
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statement of Earni

Consolidated Statement of Earnings (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Revenue:
Total revenue	$ 10,731	$ 9,881
Operating costs and expenses:
General and administrative (G&A)	(627)	(586)
Operating costs and expenses, total	(9,695)	(8,943)
Operating earnings	1,036	938
Other, net	14	33
Interest, net	(82)	(91)
Earnings before income tax	968	880
Provision for income tax, net	(169)	(150)
Net earnings	$ 799	$ 730
Earnings per share
Basic (in dollars per share)	$ 2.92	$ 2.66
Diluted (in dollars per share)	$ 2.88	$ 2.64
Products
Revenue:
Total revenue	$ 6,134	$ 5,513
Operating costs and expenses:
Cost of sales	(5,189)	(4,641)
Services
Revenue:
Total revenue	4,597	4,368
Operating costs and expenses:
Cost of sales	$ (3,879)	$ (3,716)

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 799	$ 730
Changes in unrealized cash flow hedges	(42)	(7)
Foreign currency translation adjustments	(298)	91
Changes in retirement plans’ funded status	40	173
Other comprehensive (loss) income, pretax	(300)	257
Benefit (provision) for income tax, net	3	(35)
Other comprehensive (loss) income, net of tax	(297)	222
Comprehensive income	$ 502	$ 952

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and equivalents		$ 1,036	$ 1,913
Accounts receivable		3,119	3,004
Unbilled receivables		8,523	7,997
Inventories		9,589	8,578
Other current assets		1,929	2,123
Total current assets		24,196	23,615
Noncurrent assets:
Property, plant and equipment, net		6,192	6,198
Intangible assets, net		1,594	1,656
Goodwill	[1]	20,458	20,586
Other assets		2,806	2,755
Total noncurrent assets		31,050	31,195
Total assets		55,246	54,810
Current liabilities:
Short-term debt and current portion of long-term debt		507	507
Accounts payable		3,203	3,095
Customer advances and deposits		9,969	9,564
Other current liabilities		3,111	3,266
Total current liabilities		16,790	16,432
Noncurrent liabilities:
Long-term debt		8,752	8,754
Other liabilities		8,294	8,325
Commitments and contingencies (see Note J)
Total noncurrent liabilities		17,046	17,079
Shareholders’ equity:
Common stock		482	482
Surplus		3,820	3,760
Retained earnings		39,678	39,270
Treasury stock		(21,114)	(21,054)
Accumulated other comprehensive loss		(1,456)	(1,159)
Total shareholders’ equity		21,410	21,299
Total liabilities and shareholders’ equity		$ 55,246	$ 54,810

[1] Goodwill in the Technologies reporting unit was net of $1.8 billion of accumulated impairment losses.

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Cash flows from operating activities – continuing operations:
Net earnings	$ 799	$ 730
Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation of property, plant and equipment	152	149
Amortization of intangible and finance lease right-of-use assets	59	77
Equity-based compensation expense	34	38
Deferred income tax benefit	(39)	(91)
(Increase) decrease in assets, net of effects of business acquisitions:
Accounts receivable	(115)	72
Unbilled receivables	(519)	653
Inventories	(1,011)	(628)
Increase (decrease) in liabilities, net of effects of business acquisitions:
Accounts payable	100	(150)
Customer advances and deposits	384	553
Other, net	(122)	59
Net cash (used) provided by operating activities	(278)	1,462
Cash flows from investing activities:
Capital expenditures	(159)	(161)
Other, net	(23)	(29)
Net cash used by investing activities	(182)	(190)
Cash flows from financing activities:
Dividends paid	(361)	(345)
Purchases of common stock	(105)	(90)
Other, net	50	(40)
Net cash used by financing activities	(416)	(475)
Net cash used by discontinued operations	(1)	(1)
Net (decrease) increase in cash and equivalents	(877)	796
Cash and equivalents at beginning of period	1,913	1,242
Cash and equivalents at end of period	1,036	2,038
Supplemental cash flow information:
Income tax payments, net	(33)	(58)
Interest payments	$ (26)	$ (18)

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock, Par	Common Stock, Surplus	Retained Earnings	Treasury Stock, Common	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2022	$ 18,568	$ 482	$ 3,556	$ 37,403	$ (20,721)	$ (2,152)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	730			730
Cash dividends declared	(364)			(364)
Equity-based awards	21		6		15
Shares purchased	(90)				(90)
Other comprehensive income (loss)	222					222
Ending balance at Apr. 02, 2023	19,087	482	3,562	37,769	(20,796)	(1,930)
Beginning balance at Dec. 31, 2023	21,299	482	3,760	39,270	(21,054)	(1,159)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	799			799
Cash dividends declared	(391)			(391)
Equity-based awards	105		60		45
Shares purchased	(105)				(105)
Other comprehensive income (loss)	(297)					(297)
Ending balance at Mar. 31, 2024	$ 21,410	$ 482	$ 3,820	$ 39,678	$ (21,114)	$ (1,456)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services in business aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technology products and services. The following is a discussion of certain significant accounting policies, and further discussion is contained in other notes to these financial statements. 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 intercompany balances and transactions in the unaudited Consolidated Financial Statements. 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. The unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). These rules and regulations permit some of the information and footnote disclosures included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) to be condensed or omitted. Our fiscal quarters are typically 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 March 31, 2024, are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. 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 March 31, 2024, and April 2, 2023. 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, 2023. Property, Plant and Equipment, Net. Property, plant and equipment (PP&E) is carried at historical cost, net of accumulated depreciation. Net PP&E consisted of the following: March 31, 2024 December 31, 2023 PP&E $ 13,062 $ 13,000 Accumulated depreciation (6,870) (6,802) PP&E, net $ 6,192 $ 6,198 Recent Accounting Pronouncements. For a discussion of accounting standards that have been issued by the Financial Accounting Standards Board (FASB) but are not yet effective, refer to the Recent Accounting Pronouncements section in our Annual Report on Form 10-K for the year ended

Revenue

Revenue	3 Months Ended
Revenue	Mar. 31, 2024
Revenue Recognition [Abstract]
Revenue	REVENUE 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 for revenue. A contract’s transaction price is allocated to each distinct performance obligation within that contract 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 is, therefore, not distinct. Some of our contracts have multiple performance obligations, most commonly due to the contract covering multiple phases of the product life cycle (development, production, maintenance and support). 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. Contract modifications are routine in the performance of our contracts. Contracts are often modified to account for changes in customer specifications or requirements. In most instances, contract modifications are for goods or services that are not distinct and, therefore, are accounted for as part of the existing contract. 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 80% and 81% of our revenue for the three-month periods ended March 31, 2024 and April 2, 2023, respectively. Substantially all of our revenue in the defense segments is recognized over time because control is transferred continuously to our customers. Typically, revenue is recognized over time using costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred costs represent work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, overhead and, when appropriate, G&A expenses. Revenue from goods and services transferred to customers at a point in time accounted for 20% and 19% of our revenue for the three-month periods ended March 31, 2024 and April 2, 2023, respectively. Most of our revenue recognized at a point in time is for the manufacture of business jet aircraft in our Aerospace segment. Revenue on these contracts is recognized when the customer obtains control of the asset, which is generally upon delivery and acceptance by the customer of the fully outfitted aircraft. On March 31, 2024, we had $93.7 billion of remaining performance obligations, which we refer to as total backlog. We expect to recognize approximately 65% of our remaining performance obligations as revenue by year-end 2025, an additional 25% by year-end 2027 and the balance thereafter. Contract Estimates. The majority of our revenue is derived from long-term contracts and programs that can span several years. Accounting for long-term contracts and programs involves the use of various techniques to estimate total contract revenue and costs. 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, award fees and incentive fees. We include in our contract estimates additional revenue for 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 fees 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 informed judgment at the time. 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 on a contract is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance are 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 period 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, operating earnings and diluted earnings per share as follows: Three Months Ended March 31, 2024 April 2, 2023 Revenue $ 57 $ 94 Operating earnings 36 77 Diluted earnings per share $ 0.10 $ 0.22 No adjustment on any one contract was material to the unaudited Consolidated Financial Statements for the three-month periods ended March 31, 2024, or April 2, 2023. We have large, long-term contracts with the U.S. Navy for Virginia-class submarines and an international customer for tracked vehicles in which our estimates for contract revenue include variable consideration from anticipated contract modifications. For both contracts, it is reasonably possible that the actual amount of variable consideration realized could be less than our estimate, which could have a material unfavorable impact on our results of operations. Revenue by Category. Our portfolio of products and services consists of more than 9,000 active contracts. The following series of tables presents our revenue disaggregated by several categories. Revenue by major products and services was as follows: Three Months Ended March 31, 2024 April 2, 2023 Aircraft manufacturing $ 1,261 $ 1,151 Aircraft services 823 741 Total Aerospace 2,084 1,892 Nuclear-powered submarines 2,406 2,037 Surface ships 652 681 Repair and other services 273 274 Total Marine Systems 3,331 2,992 Military vehicles 1,234 1,147 Weapons systems, armament and munitions 650 438 Engineering and other services 218 171 Total Combat Systems 2,102 1,756 Information technology (IT) services 2,164 2,169 C5ISR* solutions 1,050 1,072 Total Technologies 3,214 3,241 Total revenue $ 10,731 $ 9,881 * Command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance Revenue by contract type was as follows: Three Months Ended March 31, 2024 Aerospace Marine Systems Combat Systems Technologies Total Fixed-price $ 1,829 $ 1,571 $ 1,859 $ 1,360 $ 6,619 Cost-reimbursement — 1,759 230 1,351 3,340 Time-and-materials 255 1 13 503 772 Total revenue $ 2,084 $ 3,331 $ 2,102 $ 3,214 $ 10,731 Three Months Ended April 2, 2023 Fixed-price $ 1,632 $ 1,565 $ 1,528 $ 1,453 $ 6,178 Cost-reimbursement — 1,427 209 1,327 2,963 Time-and-materials 260 — 19 461 740 Total revenue $ 1,892 $ 2,992 $ 1,756 $ 3,241 $ 9,881 Our segments operate under fixed-price, cost-reimbursement and time-and-materials contracts. Our production contracts are primarily fixed-price. Under these contracts, we agree to perform a specific scope of work for a fixed amount. Contracts for research, engineering, repair and maintenance, and other services are typically cost-reimbursement or time-and-materials. Under cost-reimbursement contracts, the customer reimburses contract costs incurred and pays a fixed, incentive or award-based fee. The amount for an incentive or award fee is determined by our ability to achieve targets set in the contract, such as cost, quality, schedule and performance. Under time-and-materials contracts, the customer pays a fixed hourly rate for direct labor and generally reimburses us for the cost of materials. 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 rates vary significantly from the negotiated rates. Also, because these contracts may provide little or no fee for managing material costs, the content mix can impact profitability. Revenue by customer was as follows: Three Months Ended March 31, 2024 Aerospace Marine Systems Combat Systems Technologies Total U.S. government: Department of Defense (DoD) $ 51 $ 3,298 $ 1,172 $ 1,829 $ 6,350 Non-DoD — — 1 1,185 1,186 Foreign military sales (FMS) 11 31 258 11 311 Total U.S. government 62 3,329 1,431 3,025 7,847 U.S. commercial 1,218 1 53 44 1,316 Non-U.S. government 214 1 586 127 928 Non-U.S. commercial 590 — 32 18 640 Total revenue $ 2,084 $ 3,331 $ 2,102 $ 3,214 $ 10,731 Three Months Ended April 2, 2023 U.S. government: DoD $ 141 $ 2,949 $ 934 $ 1,873 $ 5,897 Non-DoD — 1 2 1,192 1,195 FMS 18 41 133 9 201 Total U.S. government 159 2,991 1,069 3,074 7,293 U.S. commercial 1,198 — 51 54 1,303 Non-U.S. government 108 1 619 100 828 Non-U.S. commercial 427 — 17 13 457 Total revenue $ 1,892 $ 2,992 $ 1,756 $ 3,241 $ 9,881 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 segments, 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 segment, 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 March 31, 2024, were not materially impacted by any other factors. Revenue recognized for the three-month periods ended March 31, 2024, and April 2, 2023, that was included in the contract liability balance at the beginning of each year was $1.7 billion. This revenue represented primarily the sale of business jet aircraft.

Earnings Per Share

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2024
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. 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 March 31, 2024 April 2, 2023 Basic weighted average shares outstanding 273,496 274,004 Dilutive effect of stock options and restricted stock/RSUs* 3,508 2,642 Diluted weighted average shares outstanding 277,004 276,646 * Excludes outstanding options to purchase shares of common stock that 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 426 and 2,131 for the three-month periods ended March 31, 2024 and April 2, 2023, respectively.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Net Deferred Tax Liability. Our deferred tax assets and liabilities are included in other noncurrent assets and liabilities on the Consolidated Balance Sheet. Our net deferred tax liability consisted of the following: March 31, 2024 December 31, 2023 Deferred tax asset $ 35 $ 28 Deferred tax liability (607) (655) Net deferred tax liability $ (572) $ (627) Tax Uncertainties. 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 2022. For tax years ending December 31, 2023, and December 31, 2024, the IRS placed us in the phase of CAP reserved for taxpayers whose risk of noncompliance does not warrant the continual use of IRS examination resources. 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% 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. Based on all known facts and circumstances and applicable tax law, we believe the total amount of any unrecognized tax benefits on March 31, 2024, was not material to our results of operations, financial condition or cash flows. 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. The Organization for Economic Co-operation and Development has issued “Pillar Two” model rules introducing a new global minimum tax of 15% on a country-by-country basis, with certain aspects intended to be effective on January 1, 2024, and other aspects on January 1, 2025. Although it is uncertain whether the U.S. will adopt any Pillar Two rules, some countries have enacted, introduced, or are considering implementing legislation. Because we generally do not have material operations in jurisdictions with tax rates lower than the proposed Pillar Two minimum, any legislation enacted consistent with the Pillar Two model rules is not expected to have a material effect on our results of operations, financial condition or cash flows.

Unbilled Receivables

Unbilled Receivables	3 Months Ended
Unbilled Receivables	Mar. 31, 2024
Contractors [Abstract]
Unbilled Receivables	UNBILLED RECEIVABLES Unbilled receivables represent revenue recognized on long-term contracts (contract costs and estimated profits) less associated advances and progress billings. These amounts will be billed in accordance with the agreed-upon contractual terms. Unbilled receivables consisted of the following: March 31, 2024 December 31, 2023 Unbilled revenue $ 42,264 $ 40,552 Advances and progress billings (33,741) (32,555) Net unbilled receivables $ 8,523 $ 7,997 On March 31, 2024, and December 31, 2023, net unbilled receivables included $1.2 billion associated with a large international tracked vehicle contract in our Combat Systems segment. The contract, signed in 2010, experienced an unbilled receivable build-up in 2021 and 2022. Based on ongoing discussions with the customer and continued successful program activity, the customer resumed payments on the contract in the first quarter of 2023.

Inventories

Inventories	3 Months Ended
Inventories	Mar. 31, 2024
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 in a production lot. Substantially all of our raw materials are valued on either the average cost or the first-in, first-out method. We record pre-owned aircraft acquired in connection with the sale of new aircraft at the lower of the trade-in value or the estimated net realizable value. Inventories consisted of the following: March 31, 2024 December 31, 2023 Work in process $ 6,453 $ 5,655 Raw materials 3,073 2,886 Finished goods 48 22 Pre-owned aircraft 15 15 Total inventories $ 9,589 $ 8,578 The increase in total inventories during the three-month period ended March 31, 2024, was due primarily to the ramp-up in production of new Gulfstream aircraft models, including the G700 that received certification from the U.S. Federal Aviation Administration on March 29, 2024, as well as increased production of in-service aircraft reflecting strong customer demand. Customer deposits associated with firm orders for these aircraft, which are reported in customer advances and deposits and other noncurrent liabilities on the Consolidated Balance Sheet, also increased.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill. The changes in the carrying amount of goodwill by reporting unit were as follows: Aerospace Marine Systems Combat Systems Technologies Total December 31, 2023 (a) $ 3,199 $ 297 $ 2,812 $ 14,278 $ 20,586 Acquisitions (b) — — 41 — 41 Other (c) (128) — (35) (6) (169) March 31, 2024 (a) $ 3,071 $ 297 $ 2,818 $ 14,272 $ 20,458 (a) Goodwill in the Technologies reporting unit was net of $1.8 billion of accumulated impairment losses. (b) Included adjustments during the purchase price allocation period. (c) Consisted 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 March 31, 2024 December 31, 2023 Contract and program intangible assets (b) $ 3,246 $ (1,901) $ 1,345 $ 3,256 $ (1,868) $ 1,388 Trade names and trademarks 510 (275) 235 542 (288) 254 Technology and software 65 (51) 14 65 (51) 14 Other intangible assets 64 (64) — 64 (64) — Total intangible assets $ 3,885 $ (2,291) $ 1,594 $ 3,927 $ (2,271) $ 1,656 (a) Changes in gross carrying amounts consisted primarily of foreign currency translation. (b) Consisted of acquired backlog and probable follow-on work and associated customer relationships. Amortization expense is included in operating costs and expenses in the Consolidated Statement of Earnings. Amortization expense for intangible assets was $45 and $53 for the three-month periods ended March 31, 2024 and April 2, 2023, respectively.

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following: March 31, 2024 December 31, 2023 Fixed-rate notes due: Interest rate: November 2024 2.375% $ 500 $ 500 April 2025 3.250% 750 750 May 2025 3.500% 750 750 June 2026 1.150% 500 500 August 2026 2.125% 500 500 April 2027 3.500% 750 750 November 2027 2.625% 500 500 May 2028 3.750% 1,000 1,000 April 2030 3.625% 1,000 1,000 June 2031 2.250% 500 500 April 2040 4.250% 750 750 June 2041 2.850% 500 500 November 2042 3.600% 500 500 April 2050 4.250% 750 750 Other Various 84 90 Total debt principal 9,334 9,340 Less unamortized debt issuance costs and discounts 75 79 Total debt 9,259 9,261 Less current portion 507 507 Long-term debt $ 8,752 $ 8,754 On March 31, 2024, we had no commercial paper outstanding, but we maintain the ability to access the commercial paper market in the future. Separately, we have a $4 billion committed bank credit facility for general corporate purposes and working capital needs and to support our commercial paper issuances. This credit facility expires in March 2027. We may renew or replace this credit facility in whole or in part at or prior to its expiration date. 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 and restrictions on March 31, 2024.

Other Liabilities

Other Liabilities	3 Months Ended
Other Liabilities	Mar. 31, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities	OTHER LIABILITIES A summary of significant other liabilities by balance sheet caption follows: March 31, 2024 December 31, 2023 Salaries and wages $ 959 $ 1,191 Dividends payable 390 362 Lease liabilities 324 325 Workers’ compensation 237 237 Other 1,201 1,151 Total other current liabilities $ 3,111 $ 3,266 Customer deposits on commercial contracts $ 2,564 $ 2,576 Retirement benefits 2,171 2,219 Lease liabilities 1,480 1,497 Other 2,079 2,033 Total other liabilities $ 8,294 $ 8,325

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
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 which had been 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 engaged in discussions with the U.S. government. In the third quarter of 2019, the Department of Justice declined to intervene in the qui tam action, noting that its investigation continues, and the court unsealed the relator’s complaint. In the fourth quarter of 2020, the relator filed a second amended complaint. In the third quarter of 2021, the court dismissed the relator’s complaint with prejudice. The relator appealed the dismissal of the complaint to the United States Court of Appeals. In the third quarter of 2023, the Court of Appeals affirmed dismissal of the relator’s complaint with prejudice. The relator thereafter filed a petition for rehearing with the Court of Appeals, which was not granted. The relator did not file a petition for a writ of certiorari with the United States Supreme Court prior to the filing deadline of February 21, 2024, thus concluding the relator’s qui tam action. On October 6, 2023, a putative class action lawsuit was filed in the United States District Court for the Eastern District of Virginia against General Dynamics Corporation, certain of its subsidiaries and various other companies alleging that they conspired, in violation of the Sherman Act, not to solicit naval architects and marine engineers from each other. The named plaintiffs purport to represent a class of individuals consisting of all naval architects and marine engineers employed by the shipyard and consultancy defendants, their predecessors, their subsidiaries and/or their related entities in the United States at any time since January 1, 2000. The plaintiffs allege that the conspiracy suppressed compensation paid to the putative class members, and the plaintiffs seek trebled monetary damages, attorneys’ fees, injunctive and other equitable relief. We are defending the matter. On April 19, 2024, the District Court dismissed the plaintiffs’ complaint. However, given the current status of this matter, 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 this matter, there could be a material impact on our results of operations, financial condition and cash flows. Additionally, various other 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 other 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 on 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 other 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 $1.8 billion on March 31, 2024. In addition, from time to time and in the ordinary course of business, we contractually guarantee the payment or performance of our subsidiaries arising under certain contracts. Aircraft Trade-ins. In connection with orders for new aircraft in contract backlog, some Gulfstream customers hold options to trade in aircraft as partial consideration in their new-aircraft transaction. These trade-in commitments are generally 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. Other trade-in commitments are structured to guarantee a predetermined trade-in value. These commitments present more risk in the event of an adverse change in market conditions. In either ca se, any excess of the preestablished trade-in price above the fair market value at the time the new aircraft is deli vered is treated as a reduction of revenue in the new-aircraft sales transaction. As of March 31, 2024, the estimated change in fair market values from the date of the commitments was not material. 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 March 31, 2024, and April 2, 2023, were as follows: Three Months Ended March 31, 2024 April 2, 2023 Beginning balance $ 597 $ 603 Warranty expense 23 16 Payments (24) (23) Adjustments 3 4 Ending balance $ 599 $ 600

Shareholders' Equity

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Mar. 31, 2024
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS ’ EQUITY Share Repurchases. In the three-month period ended March 31, 2024, we repurchased 0.4 million of our outstanding shares for $105. On March 31, 2024, 4.3 million shares remained authorized by our board of directors (Board) for repurchase, representing 1.6% of our total shares outstanding. We repurchased 0.4 million shares for $90 in the three-month period ended April 2, 2023. Dividends per Share. Our Board declared dividends per share of $1.42 and $1.32 for the three-month periods ended March 31, 2024 and April 2, 2023, respectively. We paid cash dividends of $361 and $345 for the three-month periods ended March 31, 2024 and April 2, 2023, 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: Changes in Unrealized Cash Flow Hedges Foreign Currency Translation Adjustments Changes in Retirement Plans’ Funded Status AOCL December 31, 2023 $ 11 $ 673 $ (1,843) $ (1,159) Other comprehensive loss, pretax (42) (298) 40 (300) Benefit for income tax, net 12 — (9) 3 Other comprehensive loss, net of tax (30) (298) 31 (297) March 31, 2024 $ (19) $ 375 $ (1,812) $ (1,456) December 31, 2022 $ 4 $ 260 $ (2,416) $ (2,152) Other comprehensive income, pretax (7) 91 173 257 Provision for income tax, net 1 — (36) (35) Other comprehensive income, net of tax (6) 91 137 222 April 2, 2023 $ (2) $ 351 $ (2,279) $ (1,930) Amounts reclassified out of AOCL related primarily to changes in our retirement plans’ funded status and included pretax recognized net actuarial losses and amortization of prior service credit. See Note O for these amounts, which are included in our net periodic pension and other post-retirement benefit cost (credit).

Segment Information

Segment Information	3 Months Ended
Segment Information	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION We have four operating segments: Aerospace, Marine Systems, Combat Systems and Technologies. We organize our segments in accordance with the nature of products and services offered. We measure each segment’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 segments. Summary financial information for each of our segments follows: Revenue (a) Operating Earnings Three Months Ended March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 Aerospace $ 2,084 $ 1,892 $ 255 $ 229 Marine Systems 3,331 2,992 232 211 Combat Systems 2,102 1,756 282 245 Technologies 3,214 3,241 295 299 Corporate (b) — — (28) (46) Total $ 10,731 $ 9,881 $ 1,036 $ 938 (a) See Note B for additional revenue information by segment. (b) Corporate operating costs consisted primarily of equity-based compensation expense.

Fair Value

Fair Value	3 Months Ended
Fair Value	Mar. 31, 2024
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. • 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 March 31, 2024, or December 31, 2023. Our financial instruments include cash and equivalents, accounts receivable and payable, marketable securities held in trust and other investments, short- and long-term debt, and derivative financial instruments. The carrying values of cash and equivalents and accounts receivable and payable on the Consolidated Balance Sheet approximate their fair value. The following tables present the fair values of our other financial assets and liabilities on March 31, 2024, and December 31, 2023, and the basis for determining their fair values: Carrying Fair Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets (Liabilities) March 31, 2024 Measured at fair value: Marketable securities held in trust: Cash and equivalents $ 2 $ 2 $ — $ 2 $ — Available-for-sale debt securities 134 134 — 134 — Commingled equity funds 49 49 49 — — Commingled fixed-income funds 6 6 6 — — Other investments 43 43 26 — 17 Cash flow hedge assets 58 58 — 58 — Cash flow hedge liabilities (65) (65) — (65) — Measured at amortized cost: Short- and long-term debt principal (9,334) (8,610) — (8,610) — December 31, 2023 Measured at fair value: Marketable securities held in trust: Cash and equivalents $ 21 $ 21 $ — $ 21 $ — Available-for-sale debt securities 115 115 — 115 — Commingled equity funds 49 49 49 — — Commingled fixed-income funds 6 6 6 — — Other investments 40 40 23 — 17 Cash flow hedge assets 109 109 — 109 — Cash flow hedge liabilities (61) (61) — (61) — Measured at amortized cost: Short- and long-term debt principal (9,340) (8,764) — (8,764) — Our Level 1 assets include commingled equity and fixed-income funds that are valued using a unit price or net asset value (NAV). These funds are actively traded and valued using quoted prices for identical securities from the market exchanges. The fair value of our Level 2 assets and liabilities, which consist primarily of fixed-income securities, cash flow hedges and our fixed-rate notes, is determined under a market approach using valuation models that incorporate observable inputs such as interest rates, bond yields and quoted prices for similar assets. Our Level 3 assets include direct private equity investments that are measured using inputs unobservable to a marketplace participant.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	3 Months Ended
Derivative Financial Instruments and Hedging Activities	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to market risk, primarily from foreign currency exchange rates, commodity prices and investments. We may use derivative financial instruments to hedge some of these risks as described below. We do not use derivative financial instruments for trading or speculative purposes. Foreign Currency Risk. Our foreign currency exchange rate risk relates to receipts from customers, payments to suppliers and intercompany 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 dollar-weighted one-year average maturity of these instruments generally matches the duration of the activities that are at risk. Commodity Price Risk. We are subject to 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 instru ments but are not accounted for separately, because they are clearly and closely related to the host contrac t. We have not entered into any material commodity hedging contracts but may do so as circumstances warrant. We do not believe that changes in 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 March 31, 2024, and December 31, 2023, we held $1 billion and $1.9 billion in cash and equivalents, respectively, but held no material marketable securities other than those held in trust to meet some of our obligations under workers’ compensation and non-qualified pension plans. On March 31, 2024, and December 31, 2023, we held marketable securities in trust of $191. These marketable securities are reflected at fair value on the Consolidated Balance Sheet in other current and noncurrent assets. See Note M for additional details. Hedging Activities. We had notional forward exchange contracts ou tstanding of $6.1 billion and $5.7 billion on March 31, 2024, and December 31, 2023, respectively. These derivative financial i nstruments are cash flow hedges, and are reflected at fair value on the Consolidated Balance Sheet in other current assets and liabilities. See Note M for additional details. Changes in fair value (gains and losses) related to derivative financial instruments that qualify as cash flow hedges are deferred in AOCL until the underlying transaction is reflected in earnings. Alternatively, gains and losses on derivative financial instruments that do not qualify for hedge accounting are recorded each period in earnings. All gains and losses from derivative financial instruments recognized in the Consolidated Statement of Earnings are presented in the same line item as the underlying transaction, generally operating costs and expenses. Net gains and losses recognized in earnings on derivative financial instruments that do not qualify for hedge accounting were not material to our results of operations for the three-month periods ended March 31, 2024, and April 2, 2023. Net gains and losses reclassified to earnings from AOCL related to qualified hedges were also not material to our results of operations for the three-month periods ended March 31, 2024, and April 2, 2023, 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 March 31, 2024, and December 31, 2023. Foreign Currency Financial Statement Transl ation. We translate foreign currency balance sheets from our international businesses’ functional currency (generally the respective local currency) to U.S. dollars at the end-of-period exchange rates, and statements of earnings at the average exchange rates for each period. The resulting foreign currency translation adjustments are a component of AOCL. 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 impact of translating our non-U.S. operations’ revenue and earnings into U.S. dollars was not material to our results of operations for the three-month periods ended March 31, 2024, and April 2, 2023. 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 March 31, 2024, and April 2, 2023.

Retirement Plans

Retirement Plans	3 Months Ended
Retirement Plans	Mar. 31, 2024
Retirement Benefits [Abstract]
Retirement Plans	RETIREMENT PLANS We provide retirement benefits to eligible employees through a variety of plans: • Defined contribution • Defined benefit ◦ Pension (qualified and non-qualified) ◦ Other post-retirement benefit For our defined benefit plans, net periodic benefit cost (credit) for the three-month periods ended March 31, 2024, and April 2, 2023, consisted of the following: Pension Benefits Other Post-retirement Benefits Three Months Ended March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 Service cost $ 19 $ 17 $ 1 $ 1 Interest cost 157 163 7 7 Expected return on plan assets (206) (207) (8) (8) Net actuarial loss (gain) 49 183 (8) (8) Prior service (credit) cost (2) (4) 1 1 Net periodic benefit cost (credit) $ 17 $ 152 $ (7) $ (7) Our contractual arrangements with the U.S. government provide for the recovery of pension and other post-retirement benefit costs related to employees working on government contracts. The amount allocated to U.S. government contracts is determined in accordance with the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS), which may result in a timing difference with the amount determined under GAAP. We defer this difference on the Consolidated Balance Sheet. At this time, cumulative benefit costs exceed the amount allocated to contracts, and the difference is reported in other current assets. To the extent there is a non-service component of net periodic benefit cost (credit) for our defined benefit plans, it is reported in other income (expense) in the Consolidated Statement of Earnings.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2024	Apr. 02, 2023
Pay vs Performance Disclosure
Net earnings	$ 799	$ 730

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2024
Accounting Policies [Abstract]
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 intercompany balances and transactions in the unaudited Consolidated Financial Statements. 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	The unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). These rules and regulations permit some of the information and footnote disclosures included in financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP) to be condensed or omitted. Our fiscal quarters are typically 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 March 31, 2024, are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. 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 March 31, 2024, and April 2, 2023. 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, 2023.
Recent Accounting Pronouncements	Recent Accounting Pronouncements. For a discussion of accounting standards that have been issued by the Financial Accounting Standards Board (FASB) but are not yet effective, refer to the Recent Accounting Pronouncements section in our Annual Report on Form 10-K for the year ended
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 for revenue. A contract’s transaction price is allocated to each distinct performance obligation within that contract 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 is, therefore, not distinct. Some of our contracts have multiple performance obligations, most commonly due to the contract covering multiple phases of the product life cycle (development, production, maintenance and support). 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. Contract modifications are routine in the performance of our contracts. Contracts are often modified to account for changes in customer specifications or requirements. In most instances, contract modifications are for goods or services that are not distinct and, therefore, are accounted for as part of the existing 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, award fees and incentive fees. We include in our contract estimates additional revenue for 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 fees 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 informed judgment at the time. 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 on a contract is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance are 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 period it is identified. Revenue by Category. Our portfolio of products and services consists of more than 9,000 active contracts. The following series of tables presents our revenue disaggregated by several categories. Our segments operate under fixed-price, cost-reimbursement and time-and-materials contracts. Our production contracts are primarily fixed-price. Under these contracts, we agree to perform a specific scope of work for a fixed amount. Contracts for research, engineering, repair and maintenance, and other services are typically cost-reimbursement or time-and-materials. Under cost-reimbursement contracts, the customer reimburses contract costs incurred and pays a fixed, incentive or award-based fee. The amount for an incentive or award fee is determined by our ability to achieve targets set in the contract, such as cost, quality, schedule and performance. Under time-and-materials contracts, the customer pays a fixed hourly rate for direct labor and generally reimburses us for the cost of materials. 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 rates vary significantly from the negotiated rates. Also, because these contracts may provide little or no fee for managing material costs, the content mix can impact profitability. Contract Balances.
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. 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).
Tax Uncertainties	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 2022. For tax years ending December 31, 2023, and December 31, 2024, the IRS placed us in the phase of CAP reserved for taxpayers whose risk of noncompliance does not warrant the continual use of IRS examination resources. 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% 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. Based on all known facts and circumstances and applicable tax law, we believe the total amount of any unrecognized tax benefits on March 31, 2024, was not material to our results of operations, financial condition or cash flows. 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. The Organization for Economic Co-operation and Development has issued “Pillar Two” model rules introducing a new global minimum tax of 15% on a country-by-country basis, with certain aspects intended to be effective on January 1, 2024, and other aspects on January 1, 2025. Although it is uncertain whether the U.S. will adopt any Pillar Two rules, some countries have enacted, introduced, or are considering implementing legislation. Because we generally do not have material operations in jurisdictions with tax rates lower than the proposed Pillar Two minimum, any legislation enacted consistent with the Pillar Two model rules is not expected to have a material effect on our results of operations, financial condition or cash flows.
Unbilled Receivables	Unbilled receivables represent revenue recognized on long-term contracts (contract costs and estimated profits) less associated advances and progress billings. These amounts will be billed in accordance with the agreed-upon contractual terms.
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 in a production lot. Substantially all of our raw materials are valued on either the average cost or 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.
Product Warranties	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.
Segment Information	We organize our segments in accordance with the nature of products and services offered. We measure each segment’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 segments.
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. • Level 3 – unobservable inputs significant to the fair value measurement. Our Level 1 assets include commingled equity and fixed-income funds that are valued using a unit price or net asset value (NAV). These funds are actively traded and valued using quoted prices for identical securities from the market exchanges. The fair value of our Level 2 assets and liabilities, which consist primarily of fixed-income securities, cash flow hedges and our fixed-rate notes, is determined under a market approach using valuation models that incorporate observable inputs such as interest rates, bond yields and quoted prices for similar assets. Our Level 3 assets include direct private equity investments that are measured using inputs unobservable to a marketplace participant.
Derivative Financial Instruments and Hedging Activities	We are exposed to market risk, primarily from foreign currency exchange rates, commodity prices and investments. We may use derivative financial instruments to hedge some of these risks as described below. We do not use derivative financial instruments for trading or speculative purposes. We are subject to 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 instru ments but are not accounted for separately, because they are clearly and closely related to the host contrac t. We have not entered into any material commodity hedging contracts but may do so as circumstances warrant. We do not believe that changes in commodity prices will have a material impact on our results of operations or cash flows. Our investment policy allows for purchases of fixed-income securities with an investment-grade rating and
Foreign Currency and Financial Statement Translation	We translate foreign currency balance sheets from our international businesses’ functional currency (generally the respective local currency) to U.S. dollars at the end-of-period exchange rates, and statements of earnings at the average exchange rates for each period. The resulting foreign currency translation adjustments are a component of AOCL. We do not hedge the fluctuation in reported revenue and earnings resulting from the translation of these international operations’ results into U.S. dollars
Retirement Plans	We provide retirement benefits to eligible employees through a variety of plans: • Defined contribution • Defined benefit ◦ Pension (qualified and non-qualified) ◦ Other post-retirement benefit Our contractual arrangements with the U.S. government provide for the recovery of pension and other post-retirement benefit costs related to employees working on government contracts. The amount allocated to U.S. government contracts is determined in accordance with the Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS), which may result in a timing difference with the amount determined under GAAP. We defer this difference on the Consolidated Balance Sheet. At this time, cumulative benefit costs exceed the amount allocated to contracts, and the difference is reported in other current assets. To the extent there is a non-service component of net periodic benefit cost (credit) for our defined benefit plans, it is reported in other income (expense) in the Consolidated Statement of Earnings.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
Summary of Significant Accounting Policies (Tables)	Mar. 31, 2024
Accounting Policies [Abstract]
Schedule of Property, Plant and Equipment, Net	Property, plant and equipment (PP&E) is carried at historical cost, net of accumulated depreciation. Net PP&E consisted of the following: March 31, 2024 December 31, 2023 PP&E $ 13,062 $ 13,000 Accumulated depreciation (6,870) (6,802) PP&E, net $ 6,192 $ 6,198

Revenue (Tables)

Revenue (Tables)	3 Months Ended
Revenue (Tables)	Mar. 31, 2024
Revenue Recognition [Abstract]
Schedule of Impact of Adjustments in Contract Estimates	The aggregate impact of adjustments in contract estimates increased our revenue, operating earnings and diluted earnings per share as follows: Three Months Ended March 31, 2024 April 2, 2023 Revenue $ 57 $ 94 Operating earnings 36 77 Diluted earnings per share $ 0.10 $ 0.22
Revenue by Major Product Line	Revenue by major products and services was as follows: Three Months Ended March 31, 2024 April 2, 2023 Aircraft manufacturing $ 1,261 $ 1,151 Aircraft services 823 741 Total Aerospace 2,084 1,892 Nuclear-powered submarines 2,406 2,037 Surface ships 652 681 Repair and other services 273 274 Total Marine Systems 3,331 2,992 Military vehicles 1,234 1,147 Weapons systems, armament and munitions 650 438 Engineering and other services 218 171 Total Combat Systems 2,102 1,756 Information technology (IT) services 2,164 2,169 C5ISR* solutions 1,050 1,072 Total Technologies 3,214 3,241 Total revenue $ 10,731 $ 9,881 * Command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance
Revenue by Contract Type	Revenue by contract type was as follows: Three Months Ended March 31, 2024 Aerospace Marine Systems Combat Systems Technologies Total Fixed-price $ 1,829 $ 1,571 $ 1,859 $ 1,360 $ 6,619 Cost-reimbursement — 1,759 230 1,351 3,340 Time-and-materials 255 1 13 503 772 Total revenue $ 2,084 $ 3,331 $ 2,102 $ 3,214 $ 10,731 Three Months Ended April 2, 2023 Fixed-price $ 1,632 $ 1,565 $ 1,528 $ 1,453 $ 6,178 Cost-reimbursement — 1,427 209 1,327 2,963 Time-and-materials 260 — 19 461 740 Total revenue $ 1,892 $ 2,992 $ 1,756 $ 3,241 $ 9,881
Revenue by Customer	Revenue by customer was as follows: Three Months Ended March 31, 2024 Aerospace Marine Systems Combat Systems Technologies Total U.S. government: Department of Defense (DoD) $ 51 $ 3,298 $ 1,172 $ 1,829 $ 6,350 Non-DoD — — 1 1,185 1,186 Foreign military sales (FMS) 11 31 258 11 311 Total U.S. government 62 3,329 1,431 3,025 7,847 U.S. commercial 1,218 1 53 44 1,316 Non-U.S. government 214 1 586 127 928 Non-U.S. commercial 590 — 32 18 640 Total revenue $ 2,084 $ 3,331 $ 2,102 $ 3,214 $ 10,731 Three Months Ended April 2, 2023 U.S. government: DoD $ 141 $ 2,949 $ 934 $ 1,873 $ 5,897 Non-DoD — 1 2 1,192 1,195 FMS 18 41 133 9 201 Total U.S. government 159 2,991 1,069 3,074 7,293 U.S. commercial 1,198 — 51 54 1,303 Non-U.S. government 108 1 619 100 828 Non-U.S. commercial 427 — 17 13 457 Total revenue $ 1,892 $ 2,992 $ 1,756 $ 3,241 $ 9,881

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2024
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 March 31, 2024 April 2, 2023 Basic weighted average shares outstanding 273,496 274,004 Dilutive effect of stock options and restricted stock/RSUs* 3,508 2,642 Diluted weighted average shares outstanding 277,004 276,646 * Excludes outstanding options to purchase shares of common stock that 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 426 and 2,131 for the three-month periods ended March 31, 2024 and April 2, 2023, respectively.

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
Income Taxes (Tables)	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Net Deferred Tax Assets and Liabilities	Our net deferred tax liability consisted of the following: March 31, 2024 December 31, 2023 Deferred tax asset $ 35 $ 28 Deferred tax liability (607) (655) Net deferred tax liability $ (572) $ (627)

Unbilled Receivables (Tables)

Unbilled Receivables (Tables)	3 Months Ended
Unbilled Receivables (Tables)	Mar. 31, 2024
Contractors [Abstract]
Schedule of Unbilled Receivables	Unbilled receivables consisted of the following: March 31, 2024 December 31, 2023 Unbilled revenue $ 42,264 $ 40,552 Advances and progress billings (33,741) (32,555) Net unbilled receivables $ 8,523 $ 7,997

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: March 31, 2024 December 31, 2023 Work in process $ 6,453 $ 5,655 Raw materials 3,073 2,886 Finished goods 48 22 Pre-owned aircraft 15 15 Total inventories $ 9,589 $ 8,578

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill By Reporting Unit	The changes in the carrying amount of goodwill by reporting unit were as follows: Aerospace Marine Systems Combat Systems Technologies Total December 31, 2023 (a) $ 3,199 $ 297 $ 2,812 $ 14,278 $ 20,586 Acquisitions (b) — — 41 — 41 Other (c) (128) — (35) (6) (169) March 31, 2024 (a) $ 3,071 $ 297 $ 2,818 $ 14,272 $ 20,458 (a) Goodwill in the Technologies reporting unit was net of $1.8 billion of accumulated impairment losses. (b) Included adjustments during the purchase price allocation period. (c) Consisted 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 March 31, 2024 December 31, 2023 Contract and program intangible assets (b) $ 3,246 $ (1,901) $ 1,345 $ 3,256 $ (1,868) $ 1,388 Trade names and trademarks 510 (275) 235 542 (288) 254 Technology and software 65 (51) 14 65 (51) 14 Other intangible assets 64 (64) — 64 (64) — Total intangible assets $ 3,885 $ (2,291) $ 1,594 $ 3,927 $ (2,271) $ 1,656 (a) Changes in gross carrying amounts consisted primarily of foreign currency translation. (b)

Debt (Tables)

Debt (Tables)	3 Months Ended
Debt (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: March 31, 2024 December 31, 2023 Fixed-rate notes due: Interest rate: November 2024 2.375% $ 500 $ 500 April 2025 3.250% 750 750 May 2025 3.500% 750 750 June 2026 1.150% 500 500 August 2026 2.125% 500 500 April 2027 3.500% 750 750 November 2027 2.625% 500 500 May 2028 3.750% 1,000 1,000 April 2030 3.625% 1,000 1,000 June 2031 2.250% 500 500 April 2040 4.250% 750 750 June 2041 2.850% 500 500 November 2042 3.600% 500 500 April 2050 4.250% 750 750 Other Various 84 90 Total debt principal 9,334 9,340 Less unamortized debt issuance costs and discounts 75 79 Total debt 9,259 9,261 Less current portion 507 507 Long-term debt $ 8,752 $ 8,754

Other Liabilities (Tables)

Other Liabilities (Tables)	3 Months Ended
Other Liabilities (Tables)	Mar. 31, 2024
Other Liabilities Disclosure [Abstract]
Summary of Significant Other Liabilities by Balance Sheet Caption	A summary of significant other liabilities by balance sheet caption follows: March 31, 2024 December 31, 2023 Salaries and wages $ 959 $ 1,191 Dividends payable 390 362 Lease liabilities 324 325 Workers’ compensation 237 237 Other 1,201 1,151 Total other current liabilities $ 3,111 $ 3,266 Customer deposits on commercial contracts $ 2,564 $ 2,576 Retirement benefits 2,171 2,219 Lease liabilities 1,480 1,497 Other 2,079 2,033 Total other liabilities $ 8,294 $ 8,325

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2024
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 March 31, 2024, and April 2, 2023, were as follows: Three Months Ended March 31, 2024 April 2, 2023 Beginning balance $ 597 $ 603 Warranty expense 23 16 Payments (24) (23) Adjustments 3 4 Ending balance $ 599 $ 600

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
Shareholders' Equity (Tables)	Mar. 31, 2024
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: Changes in Unrealized Cash Flow Hedges Foreign Currency Translation Adjustments Changes in Retirement Plans’ Funded Status AOCL December 31, 2023 $ 11 $ 673 $ (1,843) $ (1,159) Other comprehensive loss, pretax (42) (298) 40 (300) Benefit for income tax, net 12 — (9) 3 Other comprehensive loss, net of tax (30) (298) 31 (297) March 31, 2024 $ (19) $ 375 $ (1,812) $ (1,456) December 31, 2022 $ 4 $ 260 $ (2,416) $ (2,152) Other comprehensive income, pretax (7) 91 173 257 Provision for income tax, net 1 — (36) (35) Other comprehensive income, net of tax (6) 91 137 222 April 2, 2023 $ (2) $ 351 $ (2,279) $ (1,930)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Summary of Financial Information for Each of Our Segments	Summary financial information for each of our segments follows: Revenue (a) Operating Earnings Three Months Ended March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 Aerospace $ 2,084 $ 1,892 $ 255 $ 229 Marine Systems 3,331 2,992 232 211 Combat Systems 2,102 1,756 282 245 Technologies 3,214 3,241 295 299 Corporate (b) — — (28) (46) Total $ 10,731 $ 9,881 $ 1,036 $ 938 (a) See Note B for additional revenue information by segment. (b) Corporate operating costs consisted primarily of equity-based compensation expense.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
Fair Value (Tables)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Values of Other Financial Assets and Liabilities	The following tables present the fair values of our other financial assets and liabilities on March 31, 2024, and December 31, 2023, and the basis for determining their fair values: Carrying Fair Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets (Liabilities) March 31, 2024 Measured at fair value: Marketable securities held in trust: Cash and equivalents $ 2 $ 2 $ — $ 2 $ — Available-for-sale debt securities 134 134 — 134 — Commingled equity funds 49 49 49 — — Commingled fixed-income funds 6 6 6 — — Other investments 43 43 26 — 17 Cash flow hedge assets 58 58 — 58 — Cash flow hedge liabilities (65) (65) — (65) — Measured at amortized cost: Short- and long-term debt principal (9,334) (8,610) — (8,610) — December 31, 2023 Measured at fair value: Marketable securities held in trust: Cash and equivalents $ 21 $ 21 $ — $ 21 $ — Available-for-sale debt securities 115 115 — 115 — Commingled equity funds 49 49 49 — — Commingled fixed-income funds 6 6 6 — — Other investments 40 40 23 — 17 Cash flow hedge assets 109 109 — 109 — Cash flow hedge liabilities (61) (61) — (61) — Measured at amortized cost: Short- and long-term debt principal (9,340) (8,764) — (8,764) —

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
Retirement Plans (Tables)	Mar. 31, 2024
Retirement Benefits [Abstract]
Net Periodic Defined-Benefit Pension and Other Post-Retirement Benefit Cost	For our defined benefit plans, net periodic benefit cost (credit) for the three-month periods ended March 31, 2024, and April 2, 2023, consisted of the following: Pension Benefits Other Post-retirement Benefits Three Months Ended March 31, 2024 April 2, 2023 March 31, 2024 April 2, 2023 Service cost $ 19 $ 17 $ 1 $ 1 Interest cost 157 163 7 7 Expected return on plan assets (206) (207) (8) (8) Net actuarial loss (gain) 49 183 (8) (8) Prior service (credit) cost (2) (4) 1 1 Net periodic benefit cost (credit) $ 17 $ 152 $ (7) $ (7)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Length of fiscal quarters, weeks	91 days

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
PP&E	$ 13,062	$ 13,000
Accumulated depreciation	(6,870)	(6,802)
PP&E, net	$ 6,192	$ 6,198

Revenue - Additional Informatio

Revenue - Additional Information (Details) contract in Thousands, $ in Billions	3 Months Ended
	Mar. 31, 2024 USD ($) contract	Apr. 02, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Number of active contracts \| contract	9
Revenue recognized in contract liability balance \| $	$ 1.7	$ 1.7
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue, percentage from products and services transferred to customers	80%	81%
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue, percentage from products and services transferred to customers	20%	19%

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations to be Recognized as Revenue (Details) $ in Billions	Mar. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligations	$ 93.7
Revenue, remaining performance obligation percentage	65%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year 9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation percentage	25%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years

Revenue - Impact of Adjustments

Revenue - Impact of Adjustments in Contract Estimates (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Change in Accounting Estimate [Line Items]
Total revenue	$ 10,731	$ 9,881
Operating Earnings	1,036	938
Contracts Accounted for under Percentage of Completion
Change in Accounting Estimate [Line Items]
Total revenue	57	94
Operating Earnings	$ 36	$ 77
Diluted earnings per share (in dollars per share)	$ 0.10	$ 0.22

Revenue - Revenue by Products a

Revenue - Revenue by Products and Services (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Apr. 02, 2023
Revenue [Line Items]
Total revenue		$ 10,731	$ 9,881
Aerospace
Revenue [Line Items]
Total revenue		2,084	1,892
Aerospace \| Aircraft manufacturing
Revenue [Line Items]
Total revenue		1,261	1,151
Aerospace \| Aircraft services
Revenue [Line Items]
Total revenue		823	741
Marine Systems
Revenue [Line Items]
Total revenue		3,331	2,992
Marine Systems \| Nuclear-powered submarines
Revenue [Line Items]
Total revenue		2,406	2,037
Marine Systems \| Surface ships
Revenue [Line Items]
Total revenue		652	681
Marine Systems \| Repair and other services
Revenue [Line Items]
Total revenue		273	274
Combat Systems
Revenue [Line Items]
Total revenue		2,102	1,756
Combat Systems \| Military vehicles
Revenue [Line Items]
Total revenue		1,234	1,147
Combat Systems \| Weapons systems, armament and munitions
Revenue [Line Items]
Total revenue		650	438
Combat Systems \| Engineering and other services
Revenue [Line Items]
Total revenue		218	171
Technologies
Revenue [Line Items]
Total revenue		3,214	3,241
Technologies \| Information technology (IT) services
Revenue [Line Items]
Total revenue		2,164	2,169
Technologies \| C5ISR* solutions
Revenue [Line Items]
Total revenue	[1]	$ 1,050	$ 1,072

[1] Command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance

Revenue - Revenue by Contract T

Revenue - Revenue by Contract Type (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Revenue [Line Items]
Total revenue	$ 10,731	$ 9,881
Fixed-price
Revenue [Line Items]
Total revenue	6,619	6,178
Cost-reimbursement
Revenue [Line Items]
Total revenue	3,340	2,963
Time-and-materials
Revenue [Line Items]
Total revenue	772	740
Aerospace
Revenue [Line Items]
Total revenue	2,084	1,892
Aerospace \| Fixed-price
Revenue [Line Items]
Total revenue	1,829	1,632
Aerospace \| Cost-reimbursement
Revenue [Line Items]
Total revenue	0	0
Aerospace \| Time-and-materials
Revenue [Line Items]
Total revenue	255	260
Marine Systems
Revenue [Line Items]
Total revenue	3,331	2,992
Marine Systems \| Fixed-price
Revenue [Line Items]
Total revenue	1,571	1,565
Marine Systems \| Cost-reimbursement
Revenue [Line Items]
Total revenue	1,759	1,427
Marine Systems \| Time-and-materials
Revenue [Line Items]
Total revenue	1	0
Combat Systems
Revenue [Line Items]
Total revenue	2,102	1,756
Combat Systems \| Fixed-price
Revenue [Line Items]
Total revenue	1,859	1,528
Combat Systems \| Cost-reimbursement
Revenue [Line Items]
Total revenue	230	209
Combat Systems \| Time-and-materials
Revenue [Line Items]
Total revenue	13	19
Technologies
Revenue [Line Items]
Total revenue	3,214	3,241
Technologies \| Fixed-price
Revenue [Line Items]
Total revenue	1,360	1,453
Technologies \| Cost-reimbursement
Revenue [Line Items]
Total revenue	1,351	1,327
Technologies \| Time-and-materials
Revenue [Line Items]
Total revenue	$ 503	$ 461

Revenue - Revenue by Customer (

Revenue - Revenue by Customer (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Revenue [Line Items]
Total revenue	$ 10,731	$ 9,881
U.S. Government - DoD
Revenue [Line Items]
Total revenue	6,350	5,897
U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	1,186	1,195
U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	311	201
Total U.S. government
Revenue [Line Items]
Total revenue	7,847	7,293
U.S. commercial
Revenue [Line Items]
Total revenue	1,316	1,303
Non-U.S. government
Revenue [Line Items]
Total revenue	928	828
Non-U.S. commercial
Revenue [Line Items]
Total revenue	640	457
Aerospace
Revenue [Line Items]
Total revenue	2,084	1,892
Aerospace \| U.S. Government - DoD
Revenue [Line Items]
Total revenue	51	141
Aerospace \| U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	0	0
Aerospace \| U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	11	18
Aerospace \| Total U.S. government
Revenue [Line Items]
Total revenue	62	159
Aerospace \| U.S. commercial
Revenue [Line Items]
Total revenue	1,218	1,198
Aerospace \| Non-U.S. government
Revenue [Line Items]
Total revenue	214	108
Aerospace \| Non-U.S. commercial
Revenue [Line Items]
Total revenue	590	427
Marine Systems
Revenue [Line Items]
Total revenue	3,331	2,992
Marine Systems \| U.S. Government - DoD
Revenue [Line Items]
Total revenue	3,298	2,949
Marine Systems \| U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	0	1
Marine Systems \| U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	31	41
Marine Systems \| Total U.S. government
Revenue [Line Items]
Total revenue	3,329	2,991
Marine Systems \| U.S. commercial
Revenue [Line Items]
Total revenue	1	0
Marine Systems \| Non-U.S. government
Revenue [Line Items]
Total revenue	1	1
Marine Systems \| Non-U.S. commercial
Revenue [Line Items]
Total revenue	0	0
Combat Systems
Revenue [Line Items]
Total revenue	2,102	1,756
Combat Systems \| U.S. Government - DoD
Revenue [Line Items]
Total revenue	1,172	934
Combat Systems \| U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	1	2
Combat Systems \| U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	258	133
Combat Systems \| Total U.S. government
Revenue [Line Items]
Total revenue	1,431	1,069
Combat Systems \| U.S. commercial
Revenue [Line Items]
Total revenue	53	51
Combat Systems \| Non-U.S. government
Revenue [Line Items]
Total revenue	586	619
Combat Systems \| Non-U.S. commercial
Revenue [Line Items]
Total revenue	32	17
Technologies
Revenue [Line Items]
Total revenue	3,214	3,241
Technologies \| U.S. Government - DoD
Revenue [Line Items]
Total revenue	1,829	1,873
Technologies \| U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	1,185	1,192
Technologies \| U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	11	9
Technologies \| Total U.S. government
Revenue [Line Items]
Total revenue	3,025	3,074
Technologies \| U.S. commercial
Revenue [Line Items]
Total revenue	44	54
Technologies \| Non-U.S. government
Revenue [Line Items]
Total revenue	127	100
Technologies \| Non-U.S. commercial
Revenue [Line Items]
Total revenue	$ 18	$ 13

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands		3 Months Ended
Earnings Per Share (Details) - shares shares in Thousands		Mar. 31, 2024	Apr. 02, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic weighted average shares outstanding (shares)		273,496	274,004
Dilutive effect of stock options and restricted stock/RSUs (shares)	[1]	3,508	2,642
Diluted weighted average shares outstanding (shares)		277,004	276,646
Stock/RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (shares)		426	2,131

[1]Excludes outstanding options to purchase shares of common stock that 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 426 and 2,131 for the three-month periods ended March 31, 2024 and April 2, 2023, respectively.

Income Taxes - Net Deferred Tax

Income Taxes - Net Deferred Tax Liability (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 35	$ 28
Deferred tax liability	(607)	(655)
Net deferred tax liability	$ (572)	$ (627)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	Mar. 31, 2024 USD ($)
Income Tax Disclosure [Abstract]
Amount of unrecorded tax benefit that will vary significantly over the next 12 months	$ 0

Unbilled Receivables (Details)

Unbilled Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Contractors [Abstract]
Unbilled revenue	$ 42,264	$ 40,552
Advances and progress billings	(33,741)	(32,555)
Net unbilled receivables	$ 8,523	$ 7,997

Unbilled Receivables - Addition

Unbilled Receivables - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Contracts In Process [Line Items]
Net unbilled receivables	$ 8,523	$ 7,997
Combat Systems \| Large International Contract
Contracts In Process [Line Items]
Net unbilled receivables	$ 1,200	$ 1,200

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Work in process	$ 6,453	$ 5,655
Raw materials	3,073	2,886
Finished goods	48	22
Pre-owned aircraft	15	15
Total inventories	$ 9,589	$ 8,578

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes In Carrying Amount of Goodwill by Reporting Unit (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 20,586	[1]
Acquisitions	41
Other	(169)	[2]
Goodwill, end of period	20,458	[1]
Aerospace
Goodwill [Roll Forward]
Goodwill, beginning of period	3,199	[1]
Acquisitions	0
Other	(128)	[2]
Goodwill, end of period	3,071	[1]
Marine Systems
Goodwill [Roll Forward]
Goodwill, beginning of period	297	[1]
Acquisitions	0
Other	0	[2]
Goodwill, end of period	297	[1]
Combat Systems
Goodwill [Roll Forward]
Goodwill, beginning of period	2,812	[1]
Acquisitions	41
Other	(35)	[2]
Goodwill, end of period	2,818	[1]
Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period	14,278	[1]
Acquisitions	0
Other	(6)	[2]
Goodwill, end of period	14,272	[1]
Accumulated impairment losses	$ 1,800

[1] Goodwill in the Technologies reporting unit was net of $1.8 billion of accumulated impairment losses. Consisted primarily of adjustments for foreign currency translation.

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions		Mar. 31, 2024	Dec. 31, 2023
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	$ 3,885	$ 3,927
Accumulated Amortization		(2,291)	(2,271)
Intangible assets, net		1,594	1,656
Contract and program intangible assets
Intangible Assets [Line Items]
Gross Carrying Amount	[1],[2]	3,246	3,256
Accumulated Amortization	[2]	(1,901)	(1,868)
Intangible assets, net		1,345	1,388
Trade names and trademarks
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	510	542
Accumulated Amortization		(275)	(288)
Intangible assets, net		235	254
Technology and software
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	65	65
Accumulated Amortization		(51)	(51)
Intangible assets, net		14	14
Other intangible assets
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	64	64
Accumulated Amortization		(64)	(64)
Intangible assets, net		$ 0	$ 0

[1] Changes in gross carrying amounts consisted primarily of foreign currency translation.

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangibles	$ 45	$ 53

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	3 Months Ended
Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt principal	$ 9,334	$ 9,340
Less unamortized debt issuance costs and discounts	75	79
Total debt	9,259	9,261
Less current portion	507	507
Long-term debt	$ 8,752	8,754
Fixed Rate Notes Due November 2024
Debt Instrument [Line Items]
Interest rate:	2.375%
Long term debt	$ 500	500
Fixed Rate Notes Due April 2025
Debt Instrument [Line Items]
Interest rate:	3.25%
Long term debt	$ 750	750
Fixed Rate Notes Due May 2025
Debt Instrument [Line Items]
Interest rate:	3.50%
Long term debt	$ 750	750
Fixed Rate Notes Due June 2026
Debt Instrument [Line Items]
Interest rate:	1.15%
Long term debt	$ 500	500
Fixed Rate Notes Due August 2026
Debt Instrument [Line Items]
Interest rate:	2.125%
Long term debt	$ 500	500
Fixed Rate Notes Due April 2027
Debt Instrument [Line Items]
Interest rate:	3.50%
Long term debt	$ 750	750
Fixed Rate Notes Due November 2027
Debt Instrument [Line Items]
Interest rate:	2.625%
Long term debt	$ 500	500
Fixed Rate Notes Due May 2028
Debt Instrument [Line Items]
Interest rate:	3.75%
Long term debt	$ 1,000	1,000
Fixed Rate Notes Due April 2030
Debt Instrument [Line Items]
Interest rate:	3.625%
Long term debt	$ 1,000	1,000
Fixed Rate Notes Due June 2031
Debt Instrument [Line Items]
Interest rate:	2.25%
Long term debt	$ 500	500
Fixed Rate Notes Due April 2040
Debt Instrument [Line Items]
Interest rate:	4.25%
Long term debt	$ 750	750
Fixed Rate Notes Due June 2041
Debt Instrument [Line Items]
Interest rate:	2.85%
Long term debt	$ 500	500
Fixed Rate Notes Due November 2042
Debt Instrument [Line Items]
Interest rate:	3.60%
Long term debt	$ 500	500
Fixed Rate Notes Due April 2050
Debt Instrument [Line Items]
Interest rate:	4.25%
Long term debt	$ 750	750
Other
Debt Instrument [Line Items]
Other Interest rate	Various
Long term debt	$ 84	$ 90

Debt - Additional Information (

Debt - Additional Information (Details)	Mar. 31, 2024 USD ($)
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 4,000,000,000
Commercial paper
Debt Instrument [Line Items]
Commercial paper outstanding	$ 0

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Salaries and wages	$ 959	$ 1,191
Dividends payable	390	362
Lease liabilities	324	325
Workers’ compensation	237	237
Other	1,201	1,151
Total other current liabilities	3,111	3,266
Customer deposits on commercial contracts	2,564	2,576
Retirement benefits	2,171	2,219
Lease liabilities	1,480	1,497
Other	2,079	2,033
Total other liabilities	$ 8,294	$ 8,325

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Billions	3 Months Ended
	Mar. 31, 2024 USD ($)
Other Commitments [Line Items]
Letters of credit and guarantees	$ 1.8
Aerospace \| 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_2

Commitments and Contingencies - Product Guarantee (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 597	$ 603
Warranty expense	23	16
Payments	(24)	(23)
Adjustments	3	4
Ending balance	$ 599	$ 600

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Equity [Abstract]
Stock repurchased during the period (shares)	0.4	0.4
Stock repurchased during the period, value	$ 105	$ 90
Remaining number of shares authorized to be repurchased (shares)	4.3
Shares remaining to be repurchased as a percent of total shares outstanding	1.60%
Dividends declared per share	$ 1.42	$ 1.32
Dividends paid in cash	$ 361	$ 345

Shareholders' Equity - Changes

Shareholders' Equity - Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	$ (1,159)
Ending Balance	(1,456)
Changes in Unrealized Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	11	$ 4
Other comprehensive loss, pretax	(42)	(7)
Benefit for income tax, net	12	1
Other comprehensive income, net of tax	(30)	(6)
Ending Balance	(19)	(2)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	673	260
Other comprehensive loss, pretax	(298)	91
Benefit for income tax, net	0	0
Other comprehensive income, net of tax	(298)	91
Ending Balance	375	351
Changes in Retirement Plans’ Funded Status
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(1,843)	(2,416)
Other comprehensive loss, pretax	40	173
Benefit for income tax, net	(9)	(36)
Other comprehensive income, net of tax	31	137
Ending Balance	(1,812)	(2,279)
AOCL
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(1,159)	(2,152)
Other comprehensive loss, pretax	(300)	257
Benefit for income tax, net	3	(35)
Other comprehensive income, net of tax	(297)	222
Ending Balance	$ (1,456)	$ (1,930)

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
Segment Information - Additional Information (Details)	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	4

Segment Information - Summary o

Segment Information - Summary of Financial Information (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Apr. 02, 2023
Segment Reporting Information [Line Items]
Total revenue		$ 10,731	$ 9,881
Operating Earnings		1,036	938
Aerospace
Segment Reporting Information [Line Items]
Total revenue		2,084	1,892
Marine Systems
Segment Reporting Information [Line Items]
Total revenue		3,331	2,992
Combat Systems
Segment Reporting Information [Line Items]
Total revenue		2,102	1,756
Technologies
Segment Reporting Information [Line Items]
Total revenue		3,214	3,241
Operating Segments \| Aerospace
Segment Reporting Information [Line Items]
Total revenue		2,084	1,892
Operating Earnings		255	229
Operating Segments \| Marine Systems
Segment Reporting Information [Line Items]
Total revenue		3,331	2,992
Operating Earnings		232	211
Operating Segments \| Combat Systems
Segment Reporting Information [Line Items]
Total revenue		2,102	1,756
Operating Earnings		282	245
Operating Segments \| Technologies
Segment Reporting Information [Line Items]
Total revenue		3,214	3,241
Operating Earnings		295	299
Corporate
Segment Reporting Information [Line Items]
Total revenue	[1]	0	0
Operating Earnings	[1]	$ (28)	$ (46)

[1] (a) See Note B for additional revenue information by segment. (b) Corporate operating costs consisted primarily of equity-based compensation expense.

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Quoted Prices in Active Markets for Identical Assets (Level 1)
Marketable securities held in trust:
Cash and equivalents	$ 0	$ 0
Available-for-sale debt securities	0	0
Other investments	26	23
Cash flow hedge assets	0	0
Cash flow hedge liabilities	0	0
Short- and long-term debt principal	0	0
Significant Other Observable Inputs (Level 2)
Marketable securities held in trust:
Cash and equivalents	2	21
Available-for-sale debt securities	134	115
Other investments	0	0
Cash flow hedge assets	58	109
Cash flow hedge liabilities	(65)	(61)
Short- and long-term debt principal	(8,610)	(8,764)
Significant Unobservable Inputs (Level 3)
Marketable securities held in trust:
Cash and equivalents	0	0
Available-for-sale debt securities	0	0
Other investments	17	17
Cash flow hedge assets	0	0
Cash flow hedge liabilities	0	0
Short- and long-term debt principal	0	0
Carrying Value
Marketable securities held in trust:
Cash and equivalents	2	21
Available-for-sale debt securities	134	115
Commingled equity funds	49	49
Commingled fixed-income funds	6	6
Other investments	43	40
Cash flow hedge assets	58	109
Cash flow hedge liabilities	(65)	(61)
Short- and long-term debt principal	(9,334)	(9,340)
Fair Value
Marketable securities held in trust:
Cash and equivalents	2	21
Available-for-sale debt securities	134	115
Commingled equity funds	49	49
Commingled fixed-income funds	6	6
Other investments	43	40
Cash flow hedge assets	58	109
Cash flow hedge liabilities	(65)	(61)
Short- and long-term debt principal	(8,610)	(8,764)
Fair Value \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Marketable securities held in trust:
Commingled equity funds	49	49
Commingled fixed-income funds	6	6
Fair Value \| Significant Other Observable Inputs (Level 2)
Marketable securities held in trust:
Commingled equity funds	0	0
Commingled fixed-income funds	0	0
Fair Value \| Significant Unobservable Inputs (Level 3)
Marketable securities held in trust:
Commingled equity funds	0	0
Commingled fixed-income funds	$ 0	$ 0

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Average maturity of foreign currency forward contracts, in years	1 year
Cash and equivalents	$ 1,036	$ 1,913
Marketable securities held in trust	191	191
Notional forward foreign exchange contracts outstanding	$ 6,100	$ 5,700
Maximum
Derivative Instruments, Gain (Loss) [Line Items]
Maturity of fixed-income securities, in years	5 years

Retirement Plans (Details)

Retirement Plans (Details) - USD ($) $ in Millions	3 Months Ended
Retirement Plans (Details) - USD ($) $ in Millions	Mar. 31, 2024	Apr. 02, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 19	$ 17
Interest cost	157	163
Expected return on plan assets	(206)	(207)
Net actuarial loss (gain)	49	183
Prior service (credit) cost	(2)	(4)
Net periodic benefit cost (credit)	17	152
Other Post-retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1
Interest cost	7	7
Expected return on plan assets	(8)	(8)
Net actuarial loss (gain)	(8)	(8)
Prior service (credit) cost	1	1
Net periodic benefit cost (credit)	$ (7)	$ (7)