General Dynamics (GD) 10-Q 24 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover	6 Months Ended
	Jun. 30, 2024 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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	274,777,579
Entity Central Index Key	0000040533
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statement of Earni

Consolidated Statement of Earnings (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Revenue:
Total revenue	$ 11,976	$ 10,152	$ 22,707	$ 20,033
Operating costs and expenses:
General and administrative (G&A)	(644)	(605)	(1,271)	(1,191)
Operating costs and expenses, total	(10,820)	(9,190)	(20,515)	(18,133)
Operating earnings	1,156	962	2,192	1,900
Other, net	18	13	32	46
Interest, net	(84)	(89)	(166)	(180)
Earnings before income tax	1,090	886	2,058	1,766
Provision for income tax, net	(185)	(142)	(354)	(292)
Net earnings	$ 905	$ 744	$ 1,704	$ 1,474
Earnings per share
Basic (in dollars per share)	$ 3.30	$ 2.72	$ 6.22	$ 5.39
Diluted (in dollars per share)	$ 3.26	$ 2.70	$ 6.14	$ 5.34
Products
Revenue:
Total revenue	$ 7,160	$ 5,797	$ 13,294	$ 11,310
Operating costs and expenses:
Cost of sales	(6,127)	(4,915)	(11,315)	(9,556)
Services
Revenue:
Total revenue	4,816	4,355	9,413	8,723
Operating costs and expenses:
Cost of sales	$ (4,049)	$ (3,670)	$ (7,929)	$ (7,386)

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 905	$ 744	$ 1,704	$ 1,474
Changes in unrealized cash flow hedges	(20)	(12)	(62)	(19)
Foreign currency translation adjustments	3	100	(295)	191
Changes in retirement plans’ funded status	41	184	81	357
Other comprehensive income (loss), pretax	24	272	(276)	529
(Provision) benefit for income tax, net	(2)	(37)	1	(72)
Other comprehensive income (loss), net of tax	22	235	(275)	457
Comprehensive income	$ 927	$ 979	$ 1,429	$ 1,931

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and equivalents		$ 1,362	$ 1,913
Accounts receivable		3,152	3,004
Unbilled receivables		8,568	7,997
Inventories		9,686	8,578
Other current assets		1,544	2,123
Total current assets		24,312	23,615
Noncurrent assets:
Property, plant and equipment, net		6,276	6,198
Intangible assets, net		1,550	1,656
Goodwill	[1]	20,452	20,586
Other assets		2,852	2,755
Total noncurrent assets		31,130	31,195
Total assets		55,442	54,810
Current liabilities:
Short-term debt and current portion of long-term debt		2,004	507
Accounts payable		2,969	3,095
Customer advances and deposits		10,089	9,564
Other current liabilities		3,195	3,266
Total current liabilities		18,257	16,432
Noncurrent liabilities:
Long-term debt		7,257	8,754
Other liabilities		7,892	8,325
Commitments and contingencies (see Note J)
Total noncurrent liabilities		15,149	17,079
Shareholders’ equity:
Common stock		482	482
Surplus		3,925	3,760
Retained earnings		40,191	39,270
Treasury stock		(21,128)	(21,054)
Accumulated other comprehensive loss		(1,434)	(1,159)
Total shareholders’ equity		22,036	21,299
Total liabilities and shareholders’ equity		$ 55,442	$ 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	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Cash flows from operating activities – continuing operations:
Net earnings	$ 1,704	$ 1,474
Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation of property, plant and equipment	311	297
Amortization of intangible and finance lease right-of-use assets	117	136
Equity-based compensation expense	87	87
Deferred income tax benefit	(90)	(154)
(Increase) decrease in assets, net of effects of business acquisitions:
Accounts receivable	(158)	(159)
Unbilled receivables	(601)	513
Inventories	(1,152)	(1,264)
Increase (decrease) in liabilities, net of effects of business acquisitions:
Accounts payable	(125)	(33)
Customer advances and deposits	169	1,286
Other, net	274	10
Net cash provided by operating activities	536	2,193
Cash flows from investing activities:
Capital expenditures	(360)	(373)
Other, net	53	(31)
Net cash used by investing activities	(307)	(404)
Cash flows from financing activities:
Dividends paid	(750)	(705)
Purchases of common stock	(139)	(378)
Repayment of fixed-rate notes	0	750
Other, net	111	(42)
Net cash used by financing activities	(778)	(1,875)
Net cash used by discontinued operations	(2)	(2)
Net decrease in cash and equivalents	(551)	(88)
Cash and equivalents at beginning of period	1,913	1,242
Cash and equivalents at end of period	1,362	1,154
Supplemental cash flow information:
Income tax payments, net	48	(327)
Interest payments	$ (194)	$ (195)

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	1,474			1,474
Cash dividends declared	(723)			(723)
Equity-based awards	80		58		22
Shares purchased	(378)				(378)
Other comprehensive income (loss)	457					457
Ending balance at Jul. 02, 2023	19,478	482	3,614	38,154	(21,077)	(1,695)
Beginning balance at Apr. 02, 2023	19,087	482	3,562	37,769	(20,796)	(1,930)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	744			744
Cash dividends declared	(359)			(359)
Equity-based awards	59		52		7
Shares purchased	(288)				(288)
Other comprehensive income (loss)	235					235
Ending balance at Jul. 02, 2023	19,478	482	3,614	38,154	(21,077)	(1,695)
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	1,704			1,704
Cash dividends declared	(783)			(783)
Equity-based awards	230		165		65
Shares purchased	(139)				(139)
Other comprehensive income (loss)	(275)					(275)
Ending balance at Jun. 30, 2024	22,036	482	3,925	40,191	(21,128)	(1,434)
Beginning balance at Mar. 31, 2024	21,410	482	3,820	39,678	(21,114)	(1,456)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	905			905
Cash dividends declared	(392)			(392)
Equity-based awards	125		105		20
Shares purchased	(34)				(34)
Other comprehensive income (loss)	22					22
Ending balance at Jun. 30, 2024	$ 22,036	$ 482	$ 3,925	$ 40,191	$ (21,128)	$ (1,434)

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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- and six-month periods ended June 30, 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- and six-month periods ended June 30, 2024, and July 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: June 30, 2024 December 31, 2023 PP&E $ 13,269 $ 13,000 Accumulated depreciation (6,993) (6,802) PP&E, net $ 6,276 $ 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	6 Months Ended
	Jun. 30, 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 75% and 77% of our revenue for the three- and six-month periods ended June 30, 2024, respectively, and 80% and 81% for the three- and six-month periods ended July 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 25% and 23% of our revenue for the three- and six-month periods ended June 30, 2024, respectively, and 20% and 19% for the three- and six-month periods ended July 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 June 30, 2024, we had $91.3 billion of remaining performance obligations, which we refer to as total backlog. We expect to recognize approximately 60% 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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Revenue $ 92 $ 58 $ 149 $ 152 Operating earnings 77 10 113 87 Diluted earnings per share $ 0.22 $ 0.03 $ 0.32 $ 0.25 No adjustment on any one contract was material to the unaudited Consolidated Financial Statements for the three- and six-month periods ended June 30, 2024, or July 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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Aircraft manufacturing $ 2,067 $ 1,216 $ 3,328 $ 2,367 Aircraft services 873 737 1,696 1,478 Total Aerospace 2,940 1,953 5,024 3,845 Nuclear-powered submarines 2,460 2,122 4,866 4,159 Surface ships 713 638 1,365 1,319 Repair and other services 280 299 553 573 Total Marine Systems 3,453 3,059 6,784 6,051 Military vehicles 1,321 1,280 2,555 2,427 Weapons systems, armament and munitions 725 473 1,375 911 Engineering and other services 242 171 460 342 Total Combat Systems 2,288 1,924 4,390 3,680 Information technology (IT) services 2,172 2,127 4,336 4,296 C5ISR* solutions 1,123 1,089 2,173 2,161 Total Technologies 3,295 3,216 6,509 6,457 Total revenue $ 11,976 $ 10,152 $ 22,707 $ 20,033 * Command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance Revenue by contract type was as follows: Three Months Ended June 30, 2024 Aerospace Marine Systems Combat Systems Technologies Total Fixed-price $ 2,693 $ 1,656 $ 2,028 $ 1,314 $ 7,691 Cost-reimbursement — 1,797 238 1,496 3,531 Time-and-materials 247 — 22 485 754 Total revenue $ 2,940 $ 3,453 $ 2,288 $ 3,295 $ 11,976 Three Months Ended July 2, 2023 Fixed-price $ 1,697 $ 1,609 $ 1,684 $ 1,374 $ 6,364 Cost-reimbursement — 1,449 222 1,383 3,054 Time-and-materials 256 1 18 459 734 Total revenue $ 1,953 $ 3,059 $ 1,924 $ 3,216 $ 10,152 Six Months Ended June 30, 2024 Aerospace Marine Systems Combat Systems Technologies Total Fixed-price $ 4,522 $ 3,227 $ 3,887 $ 2,674 $ 14,310 Cost-reimbursement — 3,556 468 2,847 6,871 Time-and-materials 502 1 35 988 1,526 Total revenue $ 5,024 $ 6,784 $ 4,390 $ 6,509 $ 22,707 Six Months Ended July 2, 2023 Fixed-price $ 3,329 $ 3,174 $ 3,212 $ 2,827 $ 12,542 Cost-reimbursement — 2,876 431 2,710 6,017 Time-and-materials 516 1 37 920 1,474 Total revenue $ 3,845 $ 6,051 $ 3,680 $ 6,457 $ 20,033 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 June 30, 2024 Aerospace Marine Systems Combat Systems Technologies Total U.S. government: Department of Defense (DoD) $ 53 $ 3,411 $ 1,296 $ 1,957 $ 6,717 Non-DoD — 1 4 1,163 1,168 Foreign military sales (FMS) 10 39 206 10 265 Total U.S. government 63 3,451 1,506 3,130 8,150 U.S. commercial 1,421 1 66 54 1,542 Non-U.S. government 481 1 673 101 1,256 Non-U.S. commercial 975 — 43 10 1,028 Total revenue $ 2,940 $ 3,453 $ 2,288 $ 3,295 $ 11,976 Three Months Ended July 2, 2023 U.S. government: DoD $ 54 $ 3,029 $ 941 $ 1,867 $ 5,891 Non-DoD — — 3 1,178 1,181 FMS 21 29 159 10 219 Total U.S. government 75 3,058 1,103 3,055 7,291 U.S. commercial 985 1 55 48 1,089 Non-U.S. government 142 — 733 92 967 Non-U.S. commercial 751 — 33 21 805 Total revenue $ 1,953 $ 3,059 $ 1,924 $ 3,216 $ 10,152 Six Months Ended June 30, 2024 Aerospace Marine Systems Combat Systems Technologies Total U.S. government: DoD $ 104 $ 6,709 $ 2,468 $ 3,786 $ 13,067 Non-DoD — 1 5 2,348 2,354 FMS 21 70 464 21 576 Total U.S. government 125 6,780 2,937 6,155 15,997 U.S. commercial 2,639 2 119 98 2,858 Non-U.S. government 695 2 1,259 228 2,184 Non-U.S. commercial 1,565 — 75 28 1,668 Total revenue $ 5,024 $ 6,784 $ 4,390 $ 6,509 $ 22,707 Six Months Ended July 2, 2023 U.S. government: DoD $ 195 $ 5,978 $ 1,875 $ 3,740 $ 11,788 Non-DoD — 1 5 2,370 2,376 FMS 39 70 292 19 420 Total U.S. government 234 6,049 2,172 6,129 14,584 U.S. commercial 2,183 1 106 102 2,392 Non-U.S. government 250 1 1,352 192 1,795 Non-U.S. commercial 1,178 — 50 34 1,262 Total revenue $ 3,845 $ 6,051 $ 3,680 $ 6,457 $ 20,033 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 six-month period ended June 30, 2024, were not materially impacted by any other factors. Revenue recognized for the three- and six-month periods ended June 30, 2024, and July 2, 2023, that was included in the contract liability balance at the beginning of each year was $1.7 billion and $3.4 billion, and $949 and $2.7 billion, respectively. This revenue represented primarily the sale of business jet aircraft.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Basic weighted average shares outstanding 274,122 273,137 273,809 273,570 Dilutive effect of stock options and restricted stock/RSUs* 3,600 1,950 3,553 2,266 Diluted weighted average shares outstanding 277,722 275,087 277,362 275,836 * Excludes unvested stock options, and vested stock options 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 1,261 and 833 for the three- and six-month periods ended June 30, 2024, and 4,468 and 3,925 for the three- and six-month periods ended July 2, 2023, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 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: June 30, 2024 December 31, 2023 Deferred tax asset $ 29 $ 28 Deferred tax liability (551) (655) Net deferred tax liability $ (522) $ (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 June 30, 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	6 Months Ended
	Jun. 30, 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: June 30, 2024 December 31, 2023 Unbilled revenue $ 41,313 $ 40,552 Advances and progress billings (32,745) (32,555) Net unbilled receivables $ 8,568 $ 7,997 On June 30, 2024, and December 31, 2023, net unbilled receivables included $1.3 billion and $1.2 billion, respectively, 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. The customer resumed payments on the contract in the first quarter of 2023.

Inventories

Inventories	6 Months Ended
	Jun. 30, 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: June 30, 2024 December 31, 2023 Work in process $ 6,317 $ 5,655 Raw materials 3,279 2,886 Finished goods 28 22 Pre-owned aircraft 62 15 Total inventories $ 9,686 $ 8,578 The increase in total inventories during the six-month period ended June 30, 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	6 Months Ended
	Jun. 30, 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) (122) — (44) (9) (175) June 30, 2024 (a) $ 3,077 $ 297 $ 2,809 $ 14,269 $ 20,452 (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 June 30, 2024 December 31, 2023 Contract and program intangible assets (b) $ 3,245 $ (1,939) $ 1,306 $ 3,256 $ (1,868) $ 1,388 Trade names and trademarks 511 (280) 231 542 (288) 254 Technology and software 65 (52) 13 65 (51) 14 Other intangible assets 63 (63) — 64 (64) — Total intangible assets $ 3,884 $ (2,334) $ 1,550 $ 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 $44 and $89 for the three- and six-month periods ended June 30, 2024 , and $47 and $100 for the three- and six-month periods ended July 2, 2023, respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	DEBT Debt consisted of the following: June 30, 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 83 90 Total debt principal 9,333 9,340 Less unamortized debt issuance costs and discounts 72 79 Total debt 9,261 9,261 Less current portion 2,004 507 Long-term debt $ 7,257 $ 8,754 On June 30, 2024, we had no commer cial 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 June 30, 2024.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities	OTHER LIABILITIES A summary of significant other liabilities by balance sheet caption follows: June 30, 2024 December 31, 2023 Salaries and wages $ 1,126 $ 1,191 Dividends payable 391 362 Lease liabilities 309 325 Workers’ compensation 241 237 Other 1,128 1,151 Total other current liabilities $ 3,195 $ 3,266 Customer deposits on commercial contracts $ 2,214 $ 2,576 Retirement benefits 2,124 2,219 Lease liabilities 1,549 1,497 Other 2,005 2,033 Total other liabilities $ 7,892 $ 8,325

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Litigation 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. Plaintiffs initiated an appeal of the dismissal of their complaint to the U.S. Court of Appeals for the Fourth Circuit on May 20, 2024. 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 June 30, 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 case, any excess of the preestablished trade-in price above the fair market value at the time the new aircraft is delivered is treated as a reduction of revenue in the new-aircraft sales transaction. As of June 30, 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 six-month periods ended June 30, 2024, and July 2, 2023, were as follows: Six Months Ended June 30, 2024 July 2, 2023 Beginning balance $ 597 $ 603 Warranty expense 57 35 Payments (53) (47) Adjustments 7 2 Ending balance $ 608 $ 593

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS ’ EQUITY Share Repurchases. In the six-month period ended June 30, 2024, we repurchased 0.5 million of our outstanding shares for $139. On June 30, 2024, 4.2 million shares remained authorized by our board of directors (Board) for repurchase, representing 1.5% of our total shares outstanding. We repurchased 1.8 million shares for $378 in the six-month period ended July 2, 2023. Dividends per Share. Our Board declared dividends per share of $1.42 and $2.84 for the three- and six-month periods ended June 30, 2024, and $1.32 and $2.64 for the three- and six-month periods ended July 2, 2023, respectively. We paid cash dividends of $389 and $750 for the three- and six-month periods ended June 30, 2024, and $360 and $705 for the three- and six-month periods ended July 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 (62) (295) 81 (276) Benefit for income tax, net 18 — (17) 1 Other comprehensive loss, net of tax (44) (295) 64 (275) June 30, 2024 $ (33) $ 378 $ (1,779) $ (1,434) December 31, 2022 $ 4 $ 260 $ (2,416) $ (2,152) Other comprehensive income, pretax (19) 191 357 529 Provision for income tax, net 4 — (76) (72) Other comprehensive income, net of tax (15) 191 281 457 July 2, 2023 $ (11) $ 451 $ (2,135) $ (1,695) 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	6 Months Ended
	Jun. 30, 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 June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Aerospace $ 2,940 $ 1,953 $ 319 $ 236 Marine Systems 3,453 3,059 245 235 Combat Systems 2,288 1,924 313 251 Technologies 3,295 3,216 320 283 Corporate (b) — — (41) (43) Total $ 11,976 $ 10,152 $ 1,156 $ 962 Six Months Ended Aerospace $ 5,024 $ 3,845 $ 574 $ 465 Marine Systems 6,784 6,051 477 446 Combat Systems 4,390 3,680 595 496 Technologies 6,509 6,457 615 582 Corporate (b) — — (69) (89) Total $ 22,707 $ 20,033 $ 2,192 $ 1,900 (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	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 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) June 30, 2024 Measured at fair value: Marketable securities held in trust: Cash and equivalents $ 2 $ 2 $ — $ 2 $ — Available-for-sale debt securities 132 132 — 132 — Commingled equity funds 49 49 49 — — Commingled fixed-income funds 6 6 6 — — Other investments 44 44 27 — 17 Cash flow hedge assets 43 43 — 43 — Cash flow hedge liabilities (64) (64) — (64) — Measured at amortized cost: Short- and long-term debt principal (9,333) (8,540) — (8,540) — 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	6 Months Ended
	Jun. 30, 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 c ontract. 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 June 30, 2024, and December 31, 2023, we held $1.4 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 June 30, 2024, and December 31, 2023, we held marketable securities in trust of $189 and $191, respectively. 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 $7.1 billion and $5.7 billion on June 30, 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- and six-month periods ended June 30, 2024, and July 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- and six-month periods ended June 30, 2024, and July 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 June 30, 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- and six-month periods ended June 30, 2024, and July 2, 2023. In addition, the effect of changes in foreign exchange rates on non-U.S. cash balances was not material for the six-month periods ended June 30, 2024, and July 2, 2023.

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 30, 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- and six-month periods ended June 30, 2024, and July 2, 2023, consisted of the following: Pension Benefits Other Post-retirement Benefits Three Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Service cost $ 18 $ 16 $ 1 $ 1 Interest cost 157 162 7 8 Expected return on plan assets (205) (208) (9) (8) Net actuarial loss (gain) 49 184 (8) (8) Prior service credit (1) (3) — — Net periodic benefit cost (credit) $ 18 $ 151 $ (9) $ (7) Six Months Ended Service cost $ 37 $ 33 $ 2 $ 2 Interest cost 314 325 14 15 Expected return on plan assets (411) (415) (17) (16) Net actuarial loss (gain) 98 367 (16) (16) Prior service (credit) cost (3) (7) 1 1 Net periodic benefit cost (credit) $ 35 $ 303 $ (16) $ (14) 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		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Pay vs Performance Disclosure
Net earnings	$ 905	$ 744	$ 1,704	$ 1,474

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 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- and six-month periods ended June 30, 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- and six-month periods ended June 30, 2024, and July 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	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 December 31, 2023. These standards are not expected to have a material impact on our results of operations, financial condition or cash flows.
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. 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. 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.
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 June 30, 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	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.
Commitments and Contingencies	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 June 30, 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.
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. 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 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 c ontract. 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.
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)	6 Months Ended
	Jun. 30, 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: June 30, 2024 December 31, 2023 PP&E $ 13,269 $ 13,000 Accumulated depreciation (6,993) (6,802) PP&E, net $ 6,276 $ 6,198

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Revenue $ 92 $ 58 $ 149 $ 152 Operating earnings 77 10 113 87 Diluted earnings per share $ 0.22 $ 0.03 $ 0.32 $ 0.25
Revenue by Major Product Line	Revenue by major products and services was as follows: Three Months Ended Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Aircraft manufacturing $ 2,067 $ 1,216 $ 3,328 $ 2,367 Aircraft services 873 737 1,696 1,478 Total Aerospace 2,940 1,953 5,024 3,845 Nuclear-powered submarines 2,460 2,122 4,866 4,159 Surface ships 713 638 1,365 1,319 Repair and other services 280 299 553 573 Total Marine Systems 3,453 3,059 6,784 6,051 Military vehicles 1,321 1,280 2,555 2,427 Weapons systems, armament and munitions 725 473 1,375 911 Engineering and other services 242 171 460 342 Total Combat Systems 2,288 1,924 4,390 3,680 Information technology (IT) services 2,172 2,127 4,336 4,296 C5ISR* solutions 1,123 1,089 2,173 2,161 Total Technologies 3,295 3,216 6,509 6,457 Total revenue $ 11,976 $ 10,152 $ 22,707 $ 20,033 * Command, control, communications, computers, cyber, intelligence, surveillance and reconnaissance
Revenue by Contract Type	Revenue by contract type was as follows: Three Months Ended June 30, 2024 Aerospace Marine Systems Combat Systems Technologies Total Fixed-price $ 2,693 $ 1,656 $ 2,028 $ 1,314 $ 7,691 Cost-reimbursement — 1,797 238 1,496 3,531 Time-and-materials 247 — 22 485 754 Total revenue $ 2,940 $ 3,453 $ 2,288 $ 3,295 $ 11,976 Three Months Ended July 2, 2023 Fixed-price $ 1,697 $ 1,609 $ 1,684 $ 1,374 $ 6,364 Cost-reimbursement — 1,449 222 1,383 3,054 Time-and-materials 256 1 18 459 734 Total revenue $ 1,953 $ 3,059 $ 1,924 $ 3,216 $ 10,152 Six Months Ended June 30, 2024 Aerospace Marine Systems Combat Systems Technologies Total Fixed-price $ 4,522 $ 3,227 $ 3,887 $ 2,674 $ 14,310 Cost-reimbursement — 3,556 468 2,847 6,871 Time-and-materials 502 1 35 988 1,526 Total revenue $ 5,024 $ 6,784 $ 4,390 $ 6,509 $ 22,707 Six Months Ended July 2, 2023 Fixed-price $ 3,329 $ 3,174 $ 3,212 $ 2,827 $ 12,542 Cost-reimbursement — 2,876 431 2,710 6,017 Time-and-materials 516 1 37 920 1,474 Total revenue $ 3,845 $ 6,051 $ 3,680 $ 6,457 $ 20,033
Revenue by Customer	Revenue by customer was as follows: Three Months Ended June 30, 2024 Aerospace Marine Systems Combat Systems Technologies Total U.S. government: Department of Defense (DoD) $ 53 $ 3,411 $ 1,296 $ 1,957 $ 6,717 Non-DoD — 1 4 1,163 1,168 Foreign military sales (FMS) 10 39 206 10 265 Total U.S. government 63 3,451 1,506 3,130 8,150 U.S. commercial 1,421 1 66 54 1,542 Non-U.S. government 481 1 673 101 1,256 Non-U.S. commercial 975 — 43 10 1,028 Total revenue $ 2,940 $ 3,453 $ 2,288 $ 3,295 $ 11,976 Three Months Ended July 2, 2023 U.S. government: DoD $ 54 $ 3,029 $ 941 $ 1,867 $ 5,891 Non-DoD — — 3 1,178 1,181 FMS 21 29 159 10 219 Total U.S. government 75 3,058 1,103 3,055 7,291 U.S. commercial 985 1 55 48 1,089 Non-U.S. government 142 — 733 92 967 Non-U.S. commercial 751 — 33 21 805 Total revenue $ 1,953 $ 3,059 $ 1,924 $ 3,216 $ 10,152 Six Months Ended June 30, 2024 Aerospace Marine Systems Combat Systems Technologies Total U.S. government: DoD $ 104 $ 6,709 $ 2,468 $ 3,786 $ 13,067 Non-DoD — 1 5 2,348 2,354 FMS 21 70 464 21 576 Total U.S. government 125 6,780 2,937 6,155 15,997 U.S. commercial 2,639 2 119 98 2,858 Non-U.S. government 695 2 1,259 228 2,184 Non-U.S. commercial 1,565 — 75 28 1,668 Total revenue $ 5,024 $ 6,784 $ 4,390 $ 6,509 $ 22,707 Six Months Ended July 2, 2023 U.S. government: DoD $ 195 $ 5,978 $ 1,875 $ 3,740 $ 11,788 Non-DoD — 1 5 2,370 2,376 FMS 39 70 292 19 420 Total U.S. government 234 6,049 2,172 6,129 14,584 U.S. commercial 2,183 1 106 102 2,392 Non-U.S. government 250 1 1,352 192 1,795 Non-U.S. commercial 1,178 — 50 34 1,262 Total revenue $ 3,845 $ 6,051 $ 3,680 $ 6,457 $ 20,033

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Basic weighted average shares outstanding 274,122 273,137 273,809 273,570 Dilutive effect of stock options and restricted stock/RSUs* 3,600 1,950 3,553 2,266 Diluted weighted average shares outstanding 277,722 275,087 277,362 275,836 * Excludes unvested stock options, and vested stock options 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 1,261 and 833 for the three- and six-month periods ended June 30, 2024, and 4,468 and 3,925 for the three- and six-month periods ended July 2, 2023, respectively.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Net Deferred Tax Assets and Liabilities	Our net deferred tax liability consisted of the following: June 30, 2024 December 31, 2023 Deferred tax asset $ 29 $ 28 Deferred tax liability (551) (655) Net deferred tax liability $ (522) $ (627)

Unbilled Receivables (Tables)

Unbilled Receivables (Tables)	6 Months Ended
	Jun. 30, 2024
Contractors [Abstract]
Schedule of Unbilled Receivables	Unbilled receivables consisted of the following: June 30, 2024 December 31, 2023 Unbilled revenue $ 41,313 $ 40,552 Advances and progress billings (32,745) (32,555) Net unbilled receivables $ 8,568 $ 7,997

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: June 30, 2024 December 31, 2023 Work in process $ 6,317 $ 5,655 Raw materials 3,279 2,886 Finished goods 28 22 Pre-owned aircraft 62 15 Total inventories $ 9,686 $ 8,578

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 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) (122) — (44) (9) (175) June 30, 2024 (a) $ 3,077 $ 297 $ 2,809 $ 14,269 $ 20,452 (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 June 30, 2024 December 31, 2023 Contract and program intangible assets (b) $ 3,245 $ (1,939) $ 1,306 $ 3,256 $ (1,868) $ 1,388 Trade names and trademarks 511 (280) 231 542 (288) 254 Technology and software 65 (52) 13 65 (51) 14 Other intangible assets 63 (63) — 64 (64) — Total intangible assets $ 3,884 $ (2,334) $ 1,550 $ 3,927 $ (2,271) $ 1,656 (a) Changes in gross carrying amounts consisted primarily of foreign currency translation. (b)

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: June 30, 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 83 90 Total debt principal 9,333 9,340 Less unamortized debt issuance costs and discounts 72 79 Total debt 9,261 9,261 Less current portion 2,004 507 Long-term debt $ 7,257 $ 8,754

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 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: June 30, 2024 December 31, 2023 Salaries and wages $ 1,126 $ 1,191 Dividends payable 391 362 Lease liabilities 309 325 Workers’ compensation 241 237 Other 1,128 1,151 Total other current liabilities $ 3,195 $ 3,266 Customer deposits on commercial contracts $ 2,214 $ 2,576 Retirement benefits 2,124 2,219 Lease liabilities 1,549 1,497 Other 2,005 2,033 Total other liabilities $ 7,892 $ 8,325

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 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 six-month periods ended June 30, 2024, and July 2, 2023, were as follows: Six Months Ended June 30, 2024 July 2, 2023 Beginning balance $ 597 $ 603 Warranty expense 57 35 Payments (53) (47) Adjustments 7 2 Ending balance $ 608 $ 593

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 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 (62) (295) 81 (276) Benefit for income tax, net 18 — (17) 1 Other comprehensive loss, net of tax (44) (295) 64 (275) June 30, 2024 $ (33) $ 378 $ (1,779) $ (1,434) December 31, 2022 $ 4 $ 260 $ (2,416) $ (2,152) Other comprehensive income, pretax (19) 191 357 529 Provision for income tax, net 4 — (76) (72) Other comprehensive income, net of tax (15) 191 281 457 July 2, 2023 $ (11) $ 451 $ (2,135) $ (1,695)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Aerospace $ 2,940 $ 1,953 $ 319 $ 236 Marine Systems 3,453 3,059 245 235 Combat Systems 2,288 1,924 313 251 Technologies 3,295 3,216 320 283 Corporate (b) — — (41) (43) Total $ 11,976 $ 10,152 $ 1,156 $ 962 Six Months Ended Aerospace $ 5,024 $ 3,845 $ 574 $ 465 Marine Systems 6,784 6,051 477 446 Combat Systems 4,390 3,680 595 496 Technologies 6,509 6,457 615 582 Corporate (b) — — (69) (89) Total $ 22,707 $ 20,033 $ 2,192 $ 1,900 (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)	6 Months Ended
	Jun. 30, 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 June 30, 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) June 30, 2024 Measured at fair value: Marketable securities held in trust: Cash and equivalents $ 2 $ 2 $ — $ 2 $ — Available-for-sale debt securities 132 132 — 132 — Commingled equity funds 49 49 49 — — Commingled fixed-income funds 6 6 6 — — Other investments 44 44 27 — 17 Cash flow hedge assets 43 43 — 43 — Cash flow hedge liabilities (64) (64) — (64) — Measured at amortized cost: Short- and long-term debt principal (9,333) (8,540) — (8,540) — 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)	6 Months Ended
	Jun. 30, 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- and six-month periods ended June 30, 2024, and July 2, 2023, consisted of the following: Pension Benefits Other Post-retirement Benefits Three Months Ended June 30, 2024 July 2, 2023 June 30, 2024 July 2, 2023 Service cost $ 18 $ 16 $ 1 $ 1 Interest cost 157 162 7 8 Expected return on plan assets (205) (208) (9) (8) Net actuarial loss (gain) 49 184 (8) (8) Prior service credit (1) (3) — — Net periodic benefit cost (credit) $ 18 $ 151 $ (9) $ (7) Six Months Ended Service cost $ 37 $ 33 $ 2 $ 2 Interest cost 314 325 14 15 Expected return on plan assets (411) (415) (17) (16) Net actuarial loss (gain) 98 367 (16) (16) Prior service (credit) cost (3) (7) 1 1 Net periodic benefit cost (credit) $ 35 $ 303 $ (16) $ (14)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Jun. 30, 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	Jun. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
PP&E	$ 13,269	$ 13,000
Accumulated depreciation	(6,993)	(6,802)
PP&E, net	$ 6,276	$ 6,198

Revenue - Additional Informatio

Revenue - Additional Information (Details) contract in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jul. 02, 2023 USD ($)	Jun. 30, 2024 USD ($) contract	Jul. 02, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Number of active contracts | contract			9
Revenue recognized in contract liability balance | $	$ 1,700	$ 949	$ 3,400	$ 2,700
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue, percentage from products and services transferred to customers	75%	80%	77%	81%
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue, percentage from products and services transferred to customers	25%	20%	23%	19%

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations to be Recognized as Revenue (Details) $ in Billions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligations	$ 91.3
Revenue, remaining performance obligation percentage	60%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year 6 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		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Change in Accounting Estimate [Line Items]
Total revenue	$ 11,976	$ 10,152	$ 22,707	$ 20,033
Operating Earnings	1,156	962	2,192	1,900
Contracts Accounted for under Percentage of Completion
Change in Accounting Estimate [Line Items]
Total revenue	92	58	149	152
Operating Earnings	$ 77	$ 10	$ 113	$ 87
Diluted earnings per share (in dollars per share)	$ 0.22	$ 0.03	$ 0.32	$ 0.25

Revenue - Revenue by Products a

Revenue - Revenue by Products and Services (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Revenue [Line Items]
Total revenue		$ 11,976	$ 10,152	$ 22,707	$ 20,033
Aerospace
Revenue [Line Items]
Total revenue		2,940	1,953	5,024	3,845
Aerospace | Aircraft manufacturing
Revenue [Line Items]
Total revenue		2,067	1,216	3,328	2,367
Aerospace | Aircraft services
Revenue [Line Items]
Total revenue		873	737	1,696	1,478
Marine Systems
Revenue [Line Items]
Total revenue		3,453	3,059	6,784	6,051
Marine Systems | Nuclear-powered submarines
Revenue [Line Items]
Total revenue		2,460	2,122	4,866	4,159
Marine Systems | Surface ships
Revenue [Line Items]
Total revenue		713	638	1,365	1,319
Marine Systems | Repair and other services
Revenue [Line Items]
Total revenue		280	299	553	573
Combat Systems
Revenue [Line Items]
Total revenue		2,288	1,924	4,390	3,680
Combat Systems | Military vehicles
Revenue [Line Items]
Total revenue		1,321	1,280	2,555	2,427
Combat Systems | Weapons systems, armament and munitions
Revenue [Line Items]
Total revenue		725	473	1,375	911
Combat Systems | Engineering and other services
Revenue [Line Items]
Total revenue		242	171	460	342
Technologies
Revenue [Line Items]
Total revenue		3,295	3,216	6,509	6,457
Technologies | Information technology (IT) services
Revenue [Line Items]
Total revenue		2,172	2,127	4,336	4,296
Technologies | C5ISR* solutions
Revenue [Line Items]
Total revenue	[1]	$ 1,123	$ 1,089	$ 2,173	$ 2,161
[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		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Revenue [Line Items]
Total revenue	$ 11,976	$ 10,152	$ 22,707	$ 20,033
Fixed-price
Revenue [Line Items]
Total revenue	7,691	6,364	14,310	12,542
Cost-reimbursement
Revenue [Line Items]
Total revenue	3,531	3,054	6,871	6,017
Time-and-materials
Revenue [Line Items]
Total revenue	754	734	1,526	1,474
Aerospace
Revenue [Line Items]
Total revenue	2,940	1,953	5,024	3,845
Aerospace | Fixed-price
Revenue [Line Items]
Total revenue	2,693	1,697	4,522	3,329
Aerospace | Cost-reimbursement
Revenue [Line Items]
Total revenue	0	0	0	0
Aerospace | Time-and-materials
Revenue [Line Items]
Total revenue	247	256	502	516
Marine Systems
Revenue [Line Items]
Total revenue	3,453	3,059	6,784	6,051
Marine Systems | Fixed-price
Revenue [Line Items]
Total revenue	1,656	1,609	3,227	3,174
Marine Systems | Cost-reimbursement
Revenue [Line Items]
Total revenue	1,797	1,449	3,556	2,876
Marine Systems | Time-and-materials
Revenue [Line Items]
Total revenue	0	1	1	1
Combat Systems
Revenue [Line Items]
Total revenue	2,288	1,924	4,390	3,680
Combat Systems | Fixed-price
Revenue [Line Items]
Total revenue	2,028	1,684	3,887	3,212
Combat Systems | Cost-reimbursement
Revenue [Line Items]
Total revenue	238	222	468	431
Combat Systems | Time-and-materials
Revenue [Line Items]
Total revenue	22	18	35	37
Technologies
Revenue [Line Items]
Total revenue	3,295	3,216	6,509	6,457
Technologies | Fixed-price
Revenue [Line Items]
Total revenue	1,314	1,374	2,674	2,827
Technologies | Cost-reimbursement
Revenue [Line Items]
Total revenue	1,496	1,383	2,847	2,710
Technologies | Time-and-materials
Revenue [Line Items]
Total revenue	$ 485	$ 459	$ 988	$ 920

Revenue - Revenue by Customer (

Revenue - Revenue by Customer (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Revenue [Line Items]
Total revenue	$ 11,976	$ 10,152	$ 22,707	$ 20,033
U.S. Government - DoD
Revenue [Line Items]
Total revenue	6,717	5,891	13,067	11,788
U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	1,168	1,181	2,354	2,376
U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	265	219	576	420
Total U.S. government
Revenue [Line Items]
Total revenue	8,150	7,291	15,997	14,584
U.S. commercial
Revenue [Line Items]
Total revenue	1,542	1,089	2,858	2,392
Non-U.S. government
Revenue [Line Items]
Total revenue	1,256	967	2,184	1,795
Non-U.S. commercial
Revenue [Line Items]
Total revenue	1,028	805	1,668	1,262
Aerospace
Revenue [Line Items]
Total revenue	2,940	1,953	5,024	3,845
Aerospace | U.S. Government - DoD
Revenue [Line Items]
Total revenue	53	54	104	195
Aerospace | U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	0	0	0	0
Aerospace | U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	10	21	21	39
Aerospace | Total U.S. government
Revenue [Line Items]
Total revenue	63	75	125	234
Aerospace | U.S. commercial
Revenue [Line Items]
Total revenue	1,421	985	2,639	2,183
Aerospace | Non-U.S. government
Revenue [Line Items]
Total revenue	481	142	695	250
Aerospace | Non-U.S. commercial
Revenue [Line Items]
Total revenue	975	751	1,565	1,178
Marine Systems
Revenue [Line Items]
Total revenue	3,453	3,059	6,784	6,051
Marine Systems | U.S. Government - DoD
Revenue [Line Items]
Total revenue	3,411	3,029	6,709	5,978
Marine Systems | U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	1	0	1	1
Marine Systems | U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	39	29	70	70
Marine Systems | Total U.S. government
Revenue [Line Items]
Total revenue	3,451	3,058	6,780	6,049
Marine Systems | U.S. commercial
Revenue [Line Items]
Total revenue	1	1	2	1
Marine Systems | Non-U.S. government
Revenue [Line Items]
Total revenue	1	0	2	1
Marine Systems | Non-U.S. commercial
Revenue [Line Items]
Total revenue	0	0	0	0
Combat Systems
Revenue [Line Items]
Total revenue	2,288	1,924	4,390	3,680
Combat Systems | U.S. Government - DoD
Revenue [Line Items]
Total revenue	1,296	941	2,468	1,875
Combat Systems | U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	4	3	5	5
Combat Systems | U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	206	159	464	292
Combat Systems | Total U.S. government
Revenue [Line Items]
Total revenue	1,506	1,103	2,937	2,172
Combat Systems | U.S. commercial
Revenue [Line Items]
Total revenue	66	55	119	106
Combat Systems | Non-U.S. government
Revenue [Line Items]
Total revenue	673	733	1,259	1,352
Combat Systems | Non-U.S. commercial
Revenue [Line Items]
Total revenue	43	33	75	50
Technologies
Revenue [Line Items]
Total revenue	3,295	3,216	6,509	6,457
Technologies | U.S. Government - DoD
Revenue [Line Items]
Total revenue	1,957	1,867	3,786	3,740
Technologies | U.S. Government - Non-DoD
Revenue [Line Items]
Total revenue	1,163	1,178	2,348	2,370
Technologies | U.S. Government - Foreign Military Sales (FMS)
Revenue [Line Items]
Total revenue	10	10	21	19
Technologies | Total U.S. government
Revenue [Line Items]
Total revenue	3,130	3,055	6,155	6,129
Technologies | U.S. commercial
Revenue [Line Items]
Total revenue	54	48	98	102
Technologies | Non-U.S. government
Revenue [Line Items]
Total revenue	101	92	228	192
Technologies | Non-U.S. commercial
Revenue [Line Items]
Total revenue	$ 10	$ 21	$ 28	$ 34

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic weighted average shares outstanding (shares)		274,122	273,137	273,809	273,570
Dilutive effect of stock options and restricted stock/RSUs (shares)	[1]	3,600	1,950	3,553	2,266
Diluted weighted average shares outstanding (shares)		277,722	275,087	277,362	275,836
Stock/RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (shares)		1,261	4,468	833	3,925
[1]Excludes unvested stock options, and vested stock options 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 1,261 and 833 for the three- and six-month periods ended June 30, 2024, and 4,468 and 3,925 for the three- and six-month periods ended July 2, 2023, respectively.

Income Taxes - Net Deferred Tax

Income Taxes - Net Deferred Tax Liability (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 29	$ 28
Deferred tax liability	(551)	(655)
Net deferred tax liability	$ (522)	$ (627)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	Jun. 30, 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	Jun. 30, 2024	Dec. 31, 2023
Contractors [Abstract]
Unbilled revenue	$ 41,313	$ 40,552
Advances and progress billings	(32,745)	(32,555)
Net unbilled receivables	$ 8,568	$ 7,997

Unbilled Receivables - Addition

Unbilled Receivables - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Contracts In Process [Line Items]
Net unbilled receivables	$ 8,568	$ 7,997
Combat Systems | Large International Contract
Contracts In Process [Line Items]
Net unbilled receivables	$ 1,300	$ 1,200

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Work in process	$ 6,317	$ 5,655
Raw materials	3,279	2,886
Finished goods	28	22
Pre-owned aircraft	62	15
Total inventories	$ 9,686	$ 8,578

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes In Carrying Amount of Goodwill by Reporting Unit (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 20,586	[1]
Acquisitions	41
Other	(175)	[2]
Goodwill, end of period	20,452	[1]
Aerospace
Goodwill [Roll Forward]
Goodwill, beginning of period	3,199	[1]
Acquisitions	0
Other	(122)	[2]
Goodwill, end of period	3,077	[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	(44)	[2]
Goodwill, end of period	2,809	[1]
Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period	14,278	[1]
Acquisitions	0
Other	(9)	[2]
Goodwill, end of period	14,269	[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		Jun. 30, 2024	Dec. 31, 2023
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	$ 3,884	$ 3,927
Accumulated Amortization		(2,334)	(2,271)
Intangible assets, net		1,550	1,656
Contract and program intangible assets
Intangible Assets [Line Items]
Gross Carrying Amount	[1],[2]	3,245	3,256
Accumulated Amortization	[2]	(1,939)	(1,868)
Intangible assets, net		1,306	1,388
Trade names and trademarks
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	511	542
Accumulated Amortization		(280)	(288)
Intangible assets, net		231	254
Technology and software
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	65	65
Accumulated Amortization		(52)	(51)
Intangible assets, net		13	14
Other intangible assets
Intangible Assets [Line Items]
Gross Carrying Amount	[1]	63	64
Accumulated Amortization		(63)	(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		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense of intangibles	$ 44	$ 47	$ 89	$ 100

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt principal	$ 9,333	$ 9,340
Less unamortized debt issuance costs and discounts	72	79
Total debt	9,261	9,261
Less current portion	2,004	507
Long-term debt	$ 7,257	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	$ 83	$ 90

Debt - Additional Information (

Debt - Additional Information (Details)	Jun. 30, 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	Jun. 30, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Salaries and wages	$ 1,126	$ 1,191
Dividends payable	391	362
Lease liabilities	309	325
Workers’ compensation	241	237
Other	1,128	1,151
Total other current liabilities	3,195	3,266
Customer deposits on commercial contracts	2,214	2,576
Retirement benefits	2,124	2,219
Lease liabilities	1,549	1,497
Other	2,005	2,033
Total other liabilities	$ 7,892	$ 8,325

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Other Commitments [Line Items]
Letters of credit and guarantees	$ 1,800
Adjustments	$ 7	$ 2
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	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance	$ 597	$ 603
Warranty expense	57	35
Payments	(53)	(47)
Adjustments	7	2
Ending balance	$ 608	$ 593

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Equity [Abstract]
Stock repurchased during the period (shares)			0.5	1.8
Stock repurchased during the period, value			$ 139	$ 378
Remaining number of shares authorized to be repurchased (shares)	4.2		4.2
Shares remaining to be repurchased as a percent of total shares outstanding	1.50%		1.50%
Dividends declared per share	$ 1.42	$ 1.32	$ 2.84	$ 2.64
Dividends paid in cash	$ 389	$ 360	$ 750	$ 705

Shareholders' Equity - Changes

Shareholders' Equity - Changes in AOCI (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	$ (1,159)
Ending Balance	(1,434)
Changes in Unrealized Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	11	$ 4
Other comprehensive loss, pretax	(62)	(19)
Benefit for income tax, net	18	4
Other comprehensive income, net of tax	(44)	(15)
Ending Balance	(33)	(11)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	673	260
Other comprehensive loss, pretax	(295)	191
Benefit for income tax, net	0	0
Other comprehensive income, net of tax	(295)	191
Ending Balance	378	451
Changes in Retirement Plans’ Funded Status
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(1,843)	(2,416)
Other comprehensive loss, pretax	81	357
Benefit for income tax, net	(17)	(76)
Other comprehensive income, net of tax	64	281
Ending Balance	(1,779)	(2,135)
AOCL
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance	(1,159)	(2,152)
Other comprehensive loss, pretax	(276)	529
Benefit for income tax, net	1	(72)
Other comprehensive income, net of tax	(275)	457
Ending Balance	$ (1,434)	$ (1,695)

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 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				6 Months Ended
	Jun. 30, 2024		Jul. 02, 2023		Jun. 30, 2024	Jul. 02, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 11,976		$ 10,152		$ 22,707	$ 20,033
Operating Earnings	1,156		962		2,192	1,900
Aerospace
Segment Reporting Information [Line Items]
Total revenue	2,940		1,953		5,024	3,845
Marine Systems
Segment Reporting Information [Line Items]
Total revenue	3,453		3,059		6,784	6,051
Combat Systems
Segment Reporting Information [Line Items]
Total revenue	2,288		1,924		4,390	3,680
Technologies
Segment Reporting Information [Line Items]
Total revenue	3,295		3,216		6,509	6,457
Operating Segments | Aerospace
Segment Reporting Information [Line Items]
Total revenue	2,940		1,953		5,024	3,845
Operating Earnings	319		236		574	465
Operating Segments | Marine Systems
Segment Reporting Information [Line Items]
Total revenue	3,453		3,059		6,784	6,051
Operating Earnings	245		235		477	446
Operating Segments | Combat Systems
Segment Reporting Information [Line Items]
Total revenue	2,288		1,924		4,390	3,680
Operating Earnings	313		251		595	496
Operating Segments | Technologies
Segment Reporting Information [Line Items]
Total revenue	3,295		3,216		6,509	6,457
Operating Earnings	320		283		615	582
Corporate
Segment Reporting Information [Line Items]
Total revenue	0	[1]	0	[1]	0	0
Operating Earnings	$ (41)	[1]	$ (43)	[1]	$ (69)	$ (89)
[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	Jun. 30, 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	27	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	132	115
Other investments	0	0
Cash flow hedge assets	43	109
Cash flow hedge liabilities	(64)	(61)
Short- and long-term debt principal	(8,540)	(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	132	115
Commingled equity funds	49	49
Commingled fixed-income funds	6	6
Other investments	44	40
Cash flow hedge assets	43	109
Cash flow hedge liabilities	(64)	(61)
Short- and long-term debt principal	(9,333)	(9,340)
Fair Value
Marketable securities held in trust:
Cash and equivalents	2	21
Available-for-sale debt securities	132	115
Commingled equity funds	49	49
Commingled fixed-income funds	6	6
Other investments	44	40
Cash flow hedge assets	43	109
Cash flow hedge liabilities	(64)	(61)
Short- and long-term debt principal	(8,540)	(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	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Average maturity of foreign currency forward contracts, in years	1 year
Cash and equivalents	$ 1,362	$ 1,913
Marketable securities held in trust	191	189
Notional forward foreign exchange contracts outstanding	$ 7,100	$ 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		6 Months Ended
	Jun. 30, 2024	Jul. 02, 2023	Jun. 30, 2024	Jul. 02, 2023
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 18	$ 16	$ 37	$ 33
Interest cost	157	162	314	325
Expected return on plan assets	(205)	(208)	(411)	(415)
Net actuarial loss (gain)	49	184	98	367
Prior service credit	(1)	(3)	(3)	(7)
Net periodic benefit cost (credit)	18	151	35	303
Other Post-retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1	2	2
Interest cost	7	8	14	15
Expected return on plan assets	(9)	(8)	(17)	(16)
Net actuarial loss (gain)	(8)	(8)	(16)	(16)
Prior service credit	0	0	1	1
Net periodic benefit cost (credit)	$ (9)	$ (7)	$ (16)	$ (14)