Lockheed Martin (LMT) 10-K28 Jan 252024 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2024	Jan. 23, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-11437
Entity Registrant Name	LOCKHEED MARTIN CORPORATION
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-1893632
Entity Address, Address Line One	6801 Rockledge Drive,
Entity Address, City or Town	Bethesda,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20817
City Area Code	301
Local Phone Number	897-6000
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	LMT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 110.8
Entity Common Stock, Shares Outstanding		235,385,902
Documents Incorporated by Reference	Portions of Lockheed Martin Corporation’s 2025 Definitive Proxy Statement are incorporated by reference into Part III of this Form 10‑K. The 2025 Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Amendment Flag	false
Document Fiscal Period Focus	FY
Entity Central Index Key	0000936468
Document Fiscal Year Focus	2024

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Tysons, Virginia
Auditor Firm ID	42

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Earnings - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net sales
Total net sales	$ 71,043	$ 67,571	$ 65,984
Cost of sales
Impairment and severance charges	(87)	(92)	(100)
Other unallocated, net	1,043	1,233	1,012
Total cost of sales	(64,113)	(59,092)	(57,697)
Gross profit	6,930	8,479	8,287
Other income, net	83	28	61
Operating profit	7,013	8,507	8,348
Interest expense	(1,036)	(916)	(623)
Non-service FAS pension income (expense)	62	443	(971)
Other non-operating income (expense), net	181	64	(74)
Earnings before income taxes	6,220	8,098	6,680
Income tax expense	(884)	(1,178)	(948)
Net earnings	$ 5,336	$ 6,920	$ 5,732
Earnings per common share
Basic (in dollars per share)	$ 22.39	$ 27.65	$ 21.74
Diluted (in dollars per share)	$ 22.31	$ 27.55	$ 21.66
Products
Net sales
Total net sales	$ 59,277	$ 56,265	$ 55,466
Cost of sales
Total cost of sales	(54,852)	(50,206)	(49,357)
Services
Net sales
Total net sales	11,766	11,306	10,518
Cost of sales
Total cost of sales	$ (10,217)	$ (10,027)	$ (9,252)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 5,336	$ 6,920	$ 5,732
Postretirement benefit plans
Net actuarial gain (loss) recognized due to plan remeasurements, net of tax of $96 million in 2024, $181 million in 2023 and $518 million in 2022	340	(689)	1,873
Amortization of actuarial losses and prior service credits, net of tax of $21 million in 2024, $40 million in 2023 and $18 million in 2022	76	(149)	69
Pension settlement charge, net of tax of $314 million	0	0	1,156
Other, net, net of tax of $4 million in 2024, $6 million in 2023 and $2 million in 2022	(65)	58	(115)
Other comprehensive income, net of tax	351	(780)	2,983
Comprehensive income	$ 5,687	$ 6,140	$ 8,715

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net other comprehensive gain (loss) recognized during the period, tax	$ 96	$ 181	$ 518
Amounts reclassified from accumulated other comprehensive loss, tax	21	40	18
Pension settlement charge, tax			314
Other, net, tax	$ 4	$ 6	$ 2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 2,483	$ 1,442
Receivables, net	2,351	2,132
Contract assets	12,957	13,183
Inventories	3,474	3,132
Other current assets	584	632
Total current assets	21,849	20,521
Property, plant and equipment, net	8,726	8,370
Goodwill	11,067	10,799
Intangible assets, net	2,015	2,212
Deferred income taxes	3,557	2,953
Other noncurrent assets	8,403	7,601
Total assets	55,617	52,456
Current liabilities
Accounts payable	2,222	2,312
Salaries, benefits and payroll taxes	3,125	3,133
Contract liabilities	9,795	9,190
Current maturities of long-term debt	643	168
Other current liabilities	3,635	2,134
Total current liabilities	19,420	16,937
Long-term debt, net	19,627	17,291
Accrued pension liabilities	4,791	6,162
Other noncurrent liabilities	5,446	5,231
Total liabilities	49,284	45,621
Stockholders’ equity
Common stock, $1 par value per share	234	240
Additional paid-in capital	0	0
Retained earnings	14,551	15,398
Accumulated other comprehensive loss	(8,452)	(8,803)
Total stockholders’ equity	6,333	6,835
Total liabilities and equity	$ 55,617	$ 52,456

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating activities
Net earnings	$ 5,336	$ 6,920	$ 5,732
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	1,559	1,430	1,404
Stock-based compensation	277	265	238
Deferred income taxes	(588)	(498)	(757)
Pension settlement charge	0	0	1,470
Impairment and severance charges	87	92	100
Classified programs losses	1,965	45	0
Changes in:
Receivables, net	(219)	373	(542)
Contract assets	(109)	(865)	(1,739)
Inventories	(478)	(44)	(107)
Accounts payable	(93)	151	1,274
Contract liabilities	605	702	381
Income taxes	131	(133)	148
Qualified defined benefit pension plans	(992)	(378)	(412)
Other, net	(509)	(140)	612
Net cash provided by operating activities	6,972	7,920	7,802
Investing activities
Capital expenditures	(1,685)	(1,691)	(1,670)
Other, net	(107)	(3)	(119)
Net cash used for investing activities	(1,792)	(1,694)	(1,789)
Financing activities
Issuance of long-term debt, net of related costs	2,970	1,975	6,211
Repayments of long-term debt	(168)	(115)	(2,250)
Repurchases of common stock	(3,700)	(6,000)	(7,900)
Dividends paid	(3,059)	(3,056)	(3,016)
Other, net	(182)	(135)	(115)
Net cash used for financing activities	(4,139)	(7,331)	(7,070)
Net change in cash and cash equivalents	1,041	(1,105)	(1,057)
Cash and cash equivalents at beginning of year	1,442	2,547	3,604
Cash and cash equivalents at end of year	$ 2,483	$ 1,442	$ 2,547

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2021	$ 10,959	$ 271	$ 94	$ 21,600	$ (11,006)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	5,732			5,732
Other comprehensive (income) loss, net of tax	2,983				2,983
Repurchases of common stock	(7,900)	(18)	(503)	(7,379)
Dividends declared	(3,010)			(3,010)
Stock-based awards, ESOP activity and other	502	1	501
Ending balance at Dec. 31, 2022	9,266	254	92	16,943	(8,023)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	6,920			6,920
Other comprehensive (income) loss, net of tax	(780)				(780)
Repurchases of common stock	(6,000)	(15)	(571)	(5,414)
Dividends declared	(3,051)			(3,051)
Stock-based awards, ESOP activity and other	480	1	479
Ending balance at Dec. 31, 2023	6,835	240	0	15,398	(8,803)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	5,336			5,336
Other comprehensive (income) loss, net of tax	351				351
Repurchases of common stock	(3,700)	(8)	(565)	(3,127)
Dividends declared	(3,056)			(3,056)
Stock-based awards, ESOP activity and other	567	2	565
Ending balance at Dec. 31, 2024	$ 6,333	$ 234	$ 0	$ 14,551	$ (8,452)

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared, per share (in dollars per share)	$ 12.75	$ 12.15	$ 11.40

Organization and Significant Ac

Organization and Significant Accounting Policies	12 Months Ended
Organization and Significant Accounting Policies	Dec. 31, 2024
Accounting Policies [Abstract]
Organization and Significant Accounting Policies	Organization and Significant Accounting Policies Organization – We are a global aerospace and defense company principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. We also provide a broad range of management, engineering, technical, scientific, logistics, system integration and cybersecurity services. We serve both U.S. and international customers with products and services that have defense, civil and commercial applications, with our principal customers being agencies of the U.S. Government. As described in “Note 3 – Information on Business Segments”, we operate in four business segments: Aeronautics, MFC, RMS and Space. Basis of presentation – These consolidated financial statements include the accounts of subsidiaries we control and variable interest entities if we are the primary beneficiary. We eliminate intercompany balances and transactions in consolidation. We classify certain assets and liabilities as current utilizing the duration of the related contract or program as our operating cycle, which is generally longer than one year. This primarily impacts receivables, contract assets, inventories, and contract liabilities. We classify all other assets and liabilities based on whether the asset will be realized or the liability will be paid within one year. Additionally, certain prior year amounts in the consolidated statements of cash flows have been reclassified within operating activities to conform to the current year’s presentation. These reclassifications were not material and had no impact on total net cash provided by operating activities as previously reported. On October 30, 2024, we closed our acquisition of Terran Orbital Corporation (Terran Orbital) for a purchase consideration of $314 million. We accounted for this acquisition as a “step acquisition” (as defined in U.S. GAAP) and accordingly, $83 million of our previously held investments in Terran Orbital were included as part of the purchase consideration. The remaining purchase price of $231 million was paid with cash on hand (net of cash acquired). Terran Orbital became a wholly-owned subsidiary and operates within our Space business segment. The purchase consideration of $314 million was allocated to the estimated fair value of net tangible and intangible assets acquired, with any excess purchase price recorded as goodwill. As a result, we recorded goodwill of $298 million at our Space business segment. The final determination of the fair values of certain assets and liabilities will be completed within the measurement period of up to one year from the respective acquisition date. The financial results of Terran Orbital have been included within our operating results in the period post-acquisition. Use of estimates – We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). In doing so, we are required to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base these estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Our actual results may differ materially from these estimates. Significant estimates inherent in the preparation of our consolidated financial statements include, but are not limited to, accounting for sales and cost recognition; postretirement benefit plans; environmental liabilities and assets for the portion of environmental costs that are probable of future recovery; evaluation of goodwill, intangible assets, investments and other assets for impairment; income taxes including deferred income taxes; fair value measurements; and contingencies. Revenue Recognition – The majority of our net sales are generated from long-term contracts with the U.S. Government and international customers (including foreign military sales (FMS) contracted through the U.S. Government) for the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. For certain contracts that meet the foregoing requirements, primarily international direct commercial sale contracts, we are required to obtain certain regulatory approvals. In these cases, we recognize revenue when it is probable that we will receive regulatory approvals based upon all known facts and circumstances. We provide our products and services under fixed-price and cost-reimbursable contracts. Under fixed-price contracts, we agree to perform the specified work for a pre-determined price. To the extent our actual costs vary from the estimates upon which the price was negotiated, we will generate more or less profit or could incur a loss. Some fixed-price contracts have a performance-based component under which we may earn incentive payments or incur financial penalties based on our performance. Cost-reimbursable contracts provide for the payment of allowable costs incurred during performance of the contract plus a fee up to a ceiling based on the amount that has been funded. Typically, we enter into three types of cost-reimbursable contracts: cost-plus-award-fee, cost-plus-incentive-fee, and cost-plus-fixed-fee. Cost-plus-award-fee contracts provide for an award fee that varies within specified limits based on the customer’s assessment of our performance against a predetermined set of criteria, such as targets based on cost, quality, technical and schedule criteria. Cost-plus-incentive-fee contracts provide for reimbursement of costs plus a fee, which is adjusted by a formula based on the relationship of total allowable costs to total target costs (i.e., incentive based on cost) or reimbursement of costs plus an incentive to exceed stated performance targets (i.e., incentive based on performance). Cost-plus-fixed-fee contracts provide a fixed fee that is negotiated at the inception of the contract and does not vary with actual costs. We assess each contract at its inception to determine whether it should be combined with other contracts. When making this determination, we consider factors such as whether two or more contracts were negotiated and executed at or near the same time or were negotiated with an overall profit objective. If combined, we treat the combined contracts as a single contract for revenue recognition purposes. We evaluate the products or services promised in each contract at inception to determine whether the contract should be accounted for as having one or more performance obligations. The products and services in our contracts are typically not distinct from one another due to their complex relationships and the significant contract management functions required to perform under the contract. Accordingly, our contracts are typically accounted for as one performance obligation. In limited cases, our contracts have more than one distinct performance obligation, which occurs when we perform activities that are not highly complex or interrelated or involve different product lifecycles. Significant judgment is required in determining performance obligations, and these decisions could change the amount of revenue and profit recorded in a given period. We classify net sales as products or services on our consolidated statements of earnings based on the predominant attributes of the performance obligations. We determine the transaction price for each contract based on the consideration we expect to receive for the products or services being provided under the contract. For contracts where a portion of the price may vary (e.g., awards, incentive fees and claims), we estimate variable consideration at the most likely amount, which is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur. We analyze the risk of a significant revenue reversal and if necessary constrain the amount of variable consideration recognized in order to mitigate this risk. At the inception of a contract, we estimate the transaction price based on our current rights and do not contemplate future modifications (including unexercised options) or follow-on contracts until they become legally enforceable. Contracts are often subsequently modified to include changes in specifications, requirements or price, which may create new or change existing enforceable rights and obligations. Depending on the nature of the modification, we consider whether to account for the modification as an adjustment to the existing contract or as a separate contract. Generally, modifications to our contracts are not distinct from the existing contract due to the significant integration and interrelated tasks provided in the context of the contract. Therefore, such modifications are accounted for as if they were part of the existing contract and recognized as a cumulative adjustment to revenue. For contracts with multiple performance obligations, we allocate the transaction price to each performance obligation based on the estimated standalone selling price of the product or service underlying each performance obligation. The standalone selling price represents the amount we would sell the product or service to a customer on a standalone basis (i.e., not bundled with any other products or services). Our contracts with the U.S. Government, including FMS contracts, are subject to the FAR and the price is typically based on estimated or actual costs plus a reasonable profit margin. As a result of these regulations, the standalone selling price of products or services in our contracts with the U.S. Government and FMS contracts are typically equal to the selling price stated in the contract. For non-U.S. government contracts with multiple performance obligations, we evaluate whether the stated selling prices for the products or services represent their standalone selling prices. We primarily sell customized solutions unique to a customer’s specifications. When it is necessary to allocate the transaction price to multiple performance obligations, we typically use the expected cost plus a reasonable profit margin to estimate the standalone selling price of each product or service. We occasionally sell standard products or services with observable standalone sales transactions. In these situations, the observable standalone sales transactions are used to determine the standalone selling price. We recognize revenue as performance obligations are satisfied and the customer obtains control of the products and services. In determining when performance obligations are satisfied, we consider factors such as contract terms, payment terms and whether there is an alternative future use of the product or service. Substantially all of our revenue is recognized over time as we perform under the contract because control of the work in process transfers continuously to the customer. For most contracts with the U.S. Government and FMS contracts, this continuous transfer of control of the work in process to the customer is supported by clauses in the contract that give the customer ownership of work in process and allow the customer to unilaterally terminate the contract for convenience and pay us for costs incurred plus a reasonable profit. For most non-U.S. government contracts, primarily international direct commercial contracts, continuous transfer of control to our customer is supported because we deliver products that do not have an alternative use to us and if our customer were to terminate the contract for reasons other than our non-performance we would have the right to recover damages which would include, among other potential damages, the right to payment for our work performed to date plus a reasonable profit. For performance obligations to deliver products with continuous transfer of control to the customer, revenue is recognized based on the extent of progress towards completion of the performance obligation, generally using the percentage-of-completion cost-to-cost measure of progress for our contracts because it best depicts the transfer of control to the customer as we incur costs on our contracts. Under the percentage-of-completion cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs to complete the performance obligation(s). For performance obligations to provide services to the customer, revenue is recognized over time based on costs incurred or the right to invoice method (in situations where the value transferred matches our billing rights) as our customer receives and consumes the benefits. For performance obligations in which control does not continuously transfer to the customer, we recognize revenue at the point in time in which each performance obligation is fully satisfied. This coincides with the point in time the customer obtains control of the product or service, which typically occurs upon customer acceptance or receipt of the product or service, given that we maintain control of the product or service until that point. Backlog (i.e., unfulfilled or remaining performance obligations) represents the sales we expect to recognize for our products and services for which control has not yet transferred to the customer. It is converted into sales in future periods as work is performed or deliveries are made. For our cost-reimbursable and fixed-priced-incentive contracts, the estimated consideration we expect to receive pursuant to the terms of the contract may exceed the contractual award amount. The estimated consideration is determined at the outset of the contract and is continuously reviewed throughout the contract period. In determining the estimated consideration, we consider the risks related to the technical, schedule and cost impacts to complete the contract and an estimate of any variable consideration. Periodically, we review these risks and may increase or decrease backlog accordingly. As the risks on such contracts are successfully retired, the estimated consideration from customers may be reduced, resulting in a reduction of backlog without a corresponding recognition of sales. As of December 31, 2024, our ending backlog was $176.0 billion. We expect to recognize approximately 35% of our backlog over the next 12 months and approximately 60% over the next 24 months as revenue, with the remainder recognized thereafter. For arrangements with the U.S. Government and FMS contracts, we generally do not begin work on contracts until funding is appropriated by the customer. Billing timetables and payment terms on our contracts vary based on a number of factors, including the contract type. Typical payment terms under fixed-price contracts with the U.S. Government provide that the customer pays either performance-based payments (PBPs) based on the achievement of contract milestones or progress payments based on a percentage of costs we incur. Typical payment terms under cost-reimbursable contracts with the U.S Government provide for billing of allowable costs incurred plus applicable fee on a monthly or semi-monthly basis. For the majority of our international direct commercial contracts to deliver complex systems, we typically receive advance payments prior to commencement of work, as well as milestone payments that are paid in accordance with the terms of our contract as we perform. We recognize a liability for payments in excess of revenue recognized, which is presented as a contract liability on the balance sheet. The portion of payments retained by the customer until final contract settlement is not considered a significant financing component because the intent is to protect the customer from our failure to adequately complete some or all of the obligations under the contract. Payments received from customers in advance of revenue recognition are not considered to be significant financing components because they are used to meet working capital demands that can be higher in the early stages of a contract. For fixed-price and cost-reimbursable contracts, we present revenues recognized in excess of billings as contract assets on the balance sheet. Amounts billed and due from our customers under both contract types are classified as receivables on the balance sheet. Significant estimates and assumptions are made in estimating contract sales, costs, and profit. We estimate profit as the difference between estimated revenues and total estimated costs to complete the contract. At the outset of a long-term contract, we identify and monitor risks to the achievement of the technical, schedule and cost aspects of the contract, as well as our ability to earn variable consideration, and assess the effects of those risks on our estimates of sales and total costs to complete the contract. The estimates consider the technical requirements (e.g., a newly developed product versus a mature product), the schedule and associated tasks (e.g., the number and type of milestone events) and costs (e.g., material, labor, subcontractor, overhead, general and administrative and the estimated costs to fulfill our industrial cooperation agreements, sometimes referred to as offset or localization agreements, required under certain contracts with international customers). The initial profit booking rate of each contract considers risks surrounding the ability to achieve the technical requirements, schedule and costs in the initial estimated total costs to complete the contract. Profit booking rates may increase during the performance of the contract if we successfully retire risks related to technical, schedule and cost aspects of the contract, which decreases the estimated total costs to complete the contract or may increase the variable consideration we expect to receive on the contract. Conversely, our profit booking rates may decrease if the estimated total costs to complete the contract increase or our estimates of variable consideration we expect to receive decrease. All of the estimates are subject to change during the performance of the contract and may affect the profit booking rate. When estimates of total costs to be incurred on a contract exceed total estimates of the transaction price, a provision for the entire loss is determined at the contract level and is recorded in the period in which the loss is evident, which we refer to as a reach-forward loss. Comparability of our segment sales, operating profit and operating margin may be impacted favorably or unfavorably by changes in profit booking rates on our contracts. Increases in the profit booking rates, typically referred to as favorable profit booking rate adjustments, usually relate to revisions in the estimated total costs to fulfill the performance obligations that reflect improved conditions on a particular contract. Conversely, conditions on a particular contract may deteriorate, resulting in an increase in the estimated total costs to fulfill the performance obligations and a reduction in the profit booking rate and are typically referred to as unfavorable profit booking rate adjustments. Increases or decreases in profit booking rates are recognized in the period they are determined and reflect the inception-to-date effect of such changes. Segment operating profit and margin can be impacted favorably or unfavorably by, for example, certain items listed below, which may or may not impact sales. Favorable items include the positive resolution of contractual matters, cost recoveries on severance and restructuring, insurance recoveries and gains on sales of assets. Unfavorable items include the adverse resolution of contractual matters, supply chain disruptions, restructuring charges (except for significant severance actions, which are excluded from segment operating results), reserves for disputes, certain asset impairments, and losses on sales of certain assets. Our consolidated net profit booking rate adjustments increased net sales by $1.2 billion in 2024, $1.6 billion in 2023, and $2.0 billion in 2022. These adjustments decreased segment operating profit by approximately $180 million ($142 million, or $0.59 per share, after-tax) in 2024 and increased segment operating profit by approximately $1.6 billion ($1.3 billion, or $4.98 per share, after-tax) in 2023 and $1.8 billion ($1.4 billion, or $5.40 per share, after-tax) in 2022. Consolidated net profit booking rate adjustments during the year ended December 31, 2024 include losses of $555 million on a classified program at our Aeronautics business segment, reach-forward losses of $1.4 billion recognized on a classified program at our MFC business segment described below and $155 million of favorable profit rate adjustments following the resolution of a long-standing claim associated with a completed C-5 Galaxy aircraft contract at our Aeronautics business segment. Consolidated net profit booking rate adjustments during the year ended December 31, 2023 include a favorable profit adjustment of $65 million on an international surveillance and control program due to the positive resolution of a contractual matter at our RMS business segment, and a reach-forward loss of $100 million on the Canadian Maritime Helicopter Program (CMHP) as a result of increased costs and lower than planned revenues at our RMS business segment described below. We have various development programs for new and upgraded products, services, and related technologies which have complex design and technical challenges. This development work is inherently uncertain and subject to significant variability in estimates of the cost and time required to complete the work by us and our suppliers. Many of these programs have cost-type contracting arrangements (e.g., cost-reimbursable or cost-plus-fee). In such cases, the associated financial risks are primarily in reduced fees, lower profit rates, or program cancellation if cost, schedule, or technical performance issues arise. However, some of our existing development programs are contracted on a fixed-price basis or include cost-type contracting for the development phase with fixed-price production options and our customers continue to implement procurement strategies such as these that shift risk to contractors. Competitively bid programs with fixed-price development work or fixed-price production options increase the risk of a reach-forward loss upon contract award and during the period of contract performance. Due to the complex and often experimental nature of development programs, we may experience (and have experienced in the past) technical and quality issues during the development of new products or technologies for a variety of reasons. Our development programs are ongoing, and while we believe the cost and fee estimates incorporated in the financial statements are appropriate, the technical complexity of these programs and fixed-price contract structure creates financial risk as estimated completion costs may exceed the current contract value, which could trigger earnings charges, termination provisions, or other financially significant exposures. These programs have risk for reach-forward losses if our estimated costs exceed our estimated contract revenues, and such losses could be significant to our financial condition and operating results in any period that they are recognized. Any such losses are recognized in the period in which the loss is evident. We have experienced performance issues on an existing classified program at our Aeronautics business segment. The initial phase is on a fixed-price incentive fee contract with options for additional phases. Phases within the program involve highly complex design and systems integration and we have periodically recognized reach-forward losses. During 2024, we recognized $555 million of losses on this program, including $410 million recognized in the fourth quarter of 2024. During the fourth quarter of 2024, we again performed a comprehensive review of the program requirements, technical complexities, schedule, risks, and risk mitigation actions as a result of performance trends experienced in 2024 and in contemplation of near- term program milestones. Based on that review, we identified higher projected costs in engineering and integration activities that are necessary to achieve those forthcoming milestones. As of December 31, 2024, cumulative losses recognized to date on this program were approximately $825 million. We will continue to proactively manage the technical requirements and our performance, the remaining work and any future changes in scope or schedule, and estimated costs to complete the program, including future phases, and we may have to record additional losses that become evident in future periods if we experience further performance issues, increases in scope, or cost growth, which could be material to our financial results. We and our industry team will continue to incur advanced procurement costs (also referred to as pre-contract costs) to enhance our ability to achieve the schedule and certain milestones. We will monitor the recoverability of pre-contract costs, which could be impacted by our assessment of the customer’s decision regarding the funding of future phases of the program. We have contracted with the Canadian government for the CMHP at our RMS business segment that provides for design, development, and production of CH-148 aircraft (the Original Equipment contract), which is a military variant of the S-92 helicopter, and for logistical support to the fleet (the In Service Support contract) over an extended time period. The last of the 28 CH-148 aircraft is scheduled to be delivered in 2025. The program has experienced performance issues, including delays in the final aircraft deliveries from the original contract requirement, and the Royal Canadian Air Force’s flight hours have been significantly less than originally anticipated, which has impacted program revenues and the recovery of our costs under this program. We have incurred significant costs and recognized the related sales, of which about $955 million are currently included in contract assets on the balance sheet which could become at risk for future recovery. Such assets are recovered based on future flight hours, which are not entirely within our control and are dependent upon aircraft availability and performance and the availability of Canadian government resources. During 2024, we entered into a modification to the In Service Support contract to better align contract scope with the Canadian government’s needs. This modification mitigates but does not eliminate the risk related to future sales and recovery of our costs. We continue to engage in discussions with the Canadian government to potentially restructure certain contractual terms and conditions that may be beneficial to both parties. However, any restructuring discussions may be prolonged or unsuccessful and are dependent upon Canadian government resources and priorities and other factors outside of our control. Under the contract terms as modified, future sales and recovery of costs are dependent upon the Royal Canadian Air Force’s flight hours and program costs and performance. As of December 31, 2024, cumulative losses remained at approximately $100 million. Future performance issues or changes in our estimates may affect our ability to recover our costs, including recovery of the contract assets recognized on the balance sheet and our assessment of the reach-forward loss, which could be material to our operating results. We also have a number of contracts with Türkish industry for the Türkish Utility Helicopter Program (TUHP), which anticipates co-production with Türkish industry for production of T70 helicopters for use in Türkiye, as well as the related provision of Türkish goods and services under buy-back or offset obligations, to include the future sales of helicopters built in Türkiye for sale globally. In 2020, the U.S. Government imposed certain sanctions on Türkish entities and persons that have affected our ability to perform under the TUHP contracts, and we have provided force majeure notices under the affected contracts. We partially stopped work on TUHP effective October 5, 2024. We are currently in discussions with our customer regarding the path forward for the program in light of the continued impact of the sanctions on our ability to perform under the TUHP contracts and our decision to partially stop work. As of December 31, 2024, cumulative losses related to development work for the program remained insignificant and the program remains in a contract liability position on the balance sheet. The TUHP contracts may be negotiated to be restructured or terminated, either in whole or in part, and as a result, we could be at risk of recording significant reach-forward losses in future periods. Additionally, our customer and subcontractor have asserted that we do not have the contractual right to stop work. If we are unable to reach an agreement in the near term, we or our customer could elect to pursue other relief or remedies, which could result in a further reduction in sales, the imposition of penalties or assessment of damages, and increased unrecoverable costs, which could be material to our financial results. Our MFC business segment has been performing under a competitively bid classified contract, which includes a cost-reimbursable base contract for the initial phase of the program and multiple fixed-price options for additional phases. We previously disclosed that the options may be exercised over the next several years and if performed expect they would each be at a loss. During the first quarter of 2024, we concluded it was probable that the first option would be exercised and recognized a reach forward loss of approximately $100 million. During the fourth quarter of 2024, we again assessed the likelihood that additional options may be exercised and now believe it is probable that all options will be exercised based on performance to date, future requirements of the program, discussions with the customer and suppliers, and anticipated customer funding, among other factors, resulting in the recognition of additional reach-forward losses of approximately $1.31 billion. For the year ended December 31, 2024, MFC recognized losses of $1.41 billion for this program, bringing the cumulative losses recognized on the program to approximately $1.46 billion, including charges for pre-contract costs recognized in prior periods. As of December 31, 2024, $1.36 billion of the losses were accrued in other current liabilities in our consolidated balance sheet. Research and development and similar costs – We conduct research and development (R&D) activities using our own funds (referred to as company-funded or independent R&D (IR&D)) and under contractual arrangements with our customers (referred to as customer-funded R&D) to enhance existing products and services and to develop future technologies. R&D costs include basic research, applied research, concept formulation studies, design, development, and related test activities. Company-funded R&D costs are allocated to customer contracts as part of the general and administrative overhead costs and are generally recoverable to the extent allocable to our cost-reimbursable customer contracts with the U.S. Government. These costs also may be recoverable to the extent allocable to certain fixed-price incentive contracts with the U.S. Government. Customer-funded R&D costs are charged directly to the related customer contracts. Substantially all R&D costs are charged to cost of sales as incurred. Company-funded R&D costs charged to cost of sales totaled $1.6 billion, $1.5 billion and $1.7 billion in 2024, 2023 and 2022. Stock-based compensation – We issue stock-based compensation awards in the form of restricted stock units (RSUs) and performance stock units (PSUs) that generally vest three years from the grant date and are settled in shares. Compensation cost related to all stock-based awards is measured at the grant date based on the estimated fair value of the award. The grant date fair value of RSUs is equal t

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions): 2024 2023 2022 Weighted average common shares outstanding for basic computations 238.3 250.3 263.7 Weighted average dilutive effect of equity awards 0.9 0.9 0.9 Weighted average common shares outstanding for diluted computations 239.2 251.2 264.6 We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented. Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units (RSUs) and performance stock units (PSUs) based on the treasury stock method. There were no significant anti-dilutive equity awards for the years ended December 31, 2024, 2023 and 2022. Basic and diluted weighted average common shares outstanding decreased in 2024 compared to 2023 due to share repurchases.

Information on Business Segment

Information on Business Segments	12 Months Ended
Information on Business Segments	Dec. 31, 2024
Segment Reporting [Abstract]
Information on Business Segments	Information on Business Segments Overview We operate in four business segments: Aeronautics, MFC, RMS and Space. We organize our business segments based on the nature of products and services offered. Following is a brief description of the activities of our business segments: • Aeronautics – Engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies. • Missiles and Fire Control – Provides air and missile defense systems; tactical missiles and precision strike weapon systems; logistics; fire control systems; mission operations support, readiness, engineering support and integration services; ground vehicles; and energy management solutions. • Rotary and Mission Systems – Designs, manufactures, services and supports various military and commercial helicopters, sea- and land-based missile defense systems, radar systems, laser systems, sea- and air-based mission and combat systems, command and control mission solutions, cyber solutions, simulation and training solutions, and services and supports surface ships. • Space – Engaged in the research and design, development, engineering and production of satellites, space transportation systems, and strategic, advanced strike, and defensive systems. Space provides network-enabled situational awareness and integrates complex space and ground global systems to help our customers gather, analyze and securely distribute critical intelligence data. Space is also responsible for various classified systems and services in support of vital national security systems. Operating profit for our Space business segment also includes our share of earnings for our 50% ownership interest in ULA, which provides expendable launch services to the U.S. Government and commercial customers. Our investment in ULA totaled $551 million and $567 million at December 31, 2024 and 2023. Selected Financial Data by Business Segment Net sales and operating profit of our business segments exclude intersegment sales, cost of sales and profit as these activities are eliminated in consolidation and thus are not included in management’s evaluation of performance of each segment. Our Chief Executive Officer (CEO) and Chief Operating Officer (COO) serve as our Chief Operating Decision Makers (CODMs) and are responsible for reviewing segment performance and making decisions regarding resource allocation. Our CODMs evaluate each segment’s performance based on metrics such as net sales, operating profit, and other key financial indicators, guiding strategic decisions to align with company-wide goals. Business segment operating profit includes our share of earnings or losses from equity method investees as the operating activities of the equity method investees are closely aligned with the operations of our business segments. Summary Operating Results Sales, cost of sales and operating profit for each of our business segments were as follows (in millions): 2024 2023 2022 Net sales Aeronautics $ 28,618 $ 27,474 $ 26,987 Missiles and Fire Control 12,682 11,253 11,317 Rotary and Mission Systems 17,264 16,239 16,148 Space 12,479 12,605 11,532 Total net sales $ 71,043 $ 67,571 $ 65,984 Cost of sales Aeronautics $ 26,093 $ 24,649 $ 24,110 Missiles and Fire Control 12,277 9,712 9,676 Rotary and Mission Systems 15,391 14,399 14,258 Space 11,308 11,473 10,565 Total cost of sales $ 65,069 $ 60,233 $ 58,609 Operating profit Aeronautics $ 2,523 $ 2,825 $ 2,867 Missiles and Fire Control 413 1,541 1,637 Rotary and Mission Systems 1,921 1,865 1,906 Space 1,226 1,158 1,057 Total business segment operating profit 6,083 7,389 7,467 Unallocated items FAS/CAS pension operating adjustment 1,624 1,660 1,709 Intangible asset amortization expense (247) (247) (248) Impairment and severance charges (a) (87) (92) (100) Other, net (360) (203) (480) Total unallocated, net 930 1,118 881 Total consolidated operating profit $ 7,013 $ 8,507 $ 8,348 (a) See “ Note 16 – Impairment and Severance Charges ” included in our Notes to Consolidated Financial Statements for additional information. Unallocated Items Business segment operating profit excludes the FAS/CAS pension operating adjustment discussed below, a portion of corporate costs not considered allowable or allocable to contracts with the U.S. Government under the applicable CAS or FAR, and other items not considered part of management’s evaluation of segment operating performance such as a portion of management and administration costs, legal fees and settlements, stock-based compensation expense, changes in the fair value of assets and liabilities for deferred compensation plans, retiree benefits, significant severance charges, significant asset impairments, gains or losses from divestitures, intangible asset amortization expense, and other miscellaneous corporate activities. Excluded items are included in the reconciling item “Unallocated items” between operating profit from our business segments and our consolidated operating profit. See “Note 1 – Organization and Significant Accounting Policies” (under the caption “Use of Estimates”) for a discussion related to certain factors that may impact the comparability of net sales and operating profit of our business segments. FAS/CAS Pension Operating Adjustment Our business segments’ results of operations include pension expense only as calculated under CAS, which we refer to as CAS pension cost. We recover CAS pension and other postretirement benefit plan cost through the pricing of our products and services on U.S. Government contracts and, therefore, recognize CAS pension cost in each of our business segments’ net sales and cost of sales. Our consolidated financial statements must present pension and other postretirement benefit plan income calculated in accordance with Financial Accounting Standards (FAS) requirements under U.S. GAAP. The operating portion of the total FAS/CAS pension adjustment represents the difference between the service cost component of FAS pension income (expense) and total CAS pension cost. The non-service FAS pension income components are included in non-service FAS pension income in our consolidated statements of earnings. As a result, to the extent that CAS pension cost exceeds the service cost component of FAS pension income (expense), we have a favorable FAS/CAS pension operating adjustment. Intersegment Sales Sales between our business segments are excluded from our consolidated and segment operating results as these activities are eliminated in consolidation. Intersegment sales for each of our business segments were as follows (in millions): 2024 2023 2022 Intersegment sales Aeronautics $ 377 $ 303 $ 249 Missiles and Fire Control 804 688 627 Rotary and Mission Systems 2,320 2,125 1,930 Space 392 358 381 Total intersegment sales $ 3,893 $ 3,474 $ 3,187 Disaggregation of Net Sales Net sales by products and services, contract type, customer category and geographic region for each of our business segments were as follows (in millions): 2024 Aeronautics MFC RMS Space Total Net sales Products $ 23,598 $ 11,275 $ 14,005 $ 10,399 $ 59,277 Services 5,020 1,407 3,259 2,080 11,766 Total net sales $ 28,618 $ 12,682 $ 17,264 $ 12,479 $ 71,043 Net sales by contract type Fixed-price $ 19,603 $ 8,774 $ 10,870 $ 3,481 $ 42,728 Cost-reimbursable 9,015 3,908 6,394 8,998 28,315 Total net sales $ 28,618 $ 12,682 $ 17,264 $ 12,479 $ 71,043 Net sales by customer U.S. Government $ 19,314 $ 9,043 $ 11,469 $ 12,218 $ 52,044 International (a) 9,182 3,629 5,463 241 18,515 U.S. commercial and other 122 10 332 20 484 Total net sales $ 28,618 $ 12,682 $ 17,264 $ 12,479 $ 71,043 Net sales by geographic region United States $ 19,436 $ 9,053 $ 11,801 $ 12,238 $ 52,528 Europe 5,071 1,327 1,243 75 7,716 Asia Pacific 2,763 763 2,556 159 6,241 Middle East 808 1,473 787 7 3,075 Other 540 66 877 — 1,483 Total net sales $ 28,618 $ 12,682 $ 17,264 $ 12,479 $ 71,043 2023 Aeronautics MFC RMS Space Total Net sales Products $ 22,758 $ 9,919 $ 12,913 $ 10,675 $ 56,265 Services 4,716 1,334 3,326 1,930 11,306 Total net sales $ 27,474 $ 11,253 $ 16,239 $ 12,605 $ 67,571 Net sales by contract type Fixed-price $ 18,664 $ 7,661 $ 10,403 $ 3,276 $ 40,004 Cost-reimbursable 8,810 3,592 5,836 9,329 27,567 Total net sales $ 27,474 $ 11,253 $ 16,239 $ 12,605 $ 67,571 Net sales by customer U.S. Government $ 18,311 $ 7,769 $ 10,961 $ 12,382 $ 49,423 International (a) 9,034 3,473 4,983 154 17,644 U.S. commercial and other 129 11 295 69 504 Total net sales $ 27,474 $ 11,253 $ 16,239 $ 12,605 $ 67,571 Net sales by geographic region United States $ 18,440 $ 7,780 $ 11,256 $ 12,451 $ 49,927 Europe 4,898 786 1,265 62 7,011 Asia Pacific 2,800 687 2,275 89 5,851 Middle East 987 1,844 721 2 3,554 Other 349 156 722 1 1,228 Total net sales $ 27,474 $ 11,253 $ 16,239 $ 12,605 $ 67,571 2022 Aeronautics MFC RMS Space Total Net sales Products $ 22,870 $ 10,048 $ 12,811 $ 9,737 $ 55,466 Services 4,117 1,269 3,337 1,795 10,518 Total net sales $ 26,987 $ 11,317 $ 16,148 $ 11,532 $ 65,984 Net sales by contract type Fixed-price $ 19,431 $ 8,014 $ 10,460 $ 3,064 $ 40,969 Cost-reimbursable 7,556 3,303 5,688 8,468 25,015 Total net sales $ 26,987 $ 11,317 $ 16,148 $ 11,532 $ 65,984 Net sales by customer U.S. Government $ 18,026 $ 7,814 $ 11,331 $ 11,344 $ 48,515 International (a) 8,811 3,496 4,470 154 16,931 U.S. commercial and other 150 7 347 34 538 Total net sales $ 26,987 $ 11,317 $ 16,148 $ 11,532 $ 65,984 Net sales by geographic region United States $ 18,176 $ 7,821 $ 11,678 $ 11,378 $ 49,053 Europe 4,303 1,020 857 87 6,267 Asia Pacific 2,970 461 1,994 54 5,479 Middle East 1,103 1,858 823 12 3,796 Other 435 157 796 1 1,389 Total net sales $ 26,987 $ 11,317 $ 16,148 $ 11,532 $ 65,984 (a) International sales include FMS contracted through the U.S. Government, direct commercial sales with international governments and commercial and other sales to international customers. Our Aeronautics business segment includes our largest program, the F-35 Lightning II Joint Strike Fighter, an international multi-role, multi-variant, stealth fighter aircraft. Net sales for the F-35 program represented approximately 26% of our consolidated net sales during both 2024 and 2023 and 27% during 2022. Capital Expenditures and PP&E Depreciation and Software Amortization 2024 2023 2022 Capital expenditures Aeronautics $ 593 $ 535 $ 461 Missiles and Fire Control 265 252 253 Rotary and Mission Systems 230 220 266 Space 366 455 391 Total business segment capital expenditures 1,454 1,462 1,371 Corporate activities 231 229 299 Total capital expenditures $ 1,685 $ 1,691 $ 1,670 PP&E depreciation and software amortization Aeronautics $ 452 $ 416 $ 383 Missiles and Fire Control 183 175 160 Rotary and Mission Systems 227 220 245 Space 270 221 201 Total business segment depreciation and amortization 1,132 1,032 989 Corporate activities (a) 427 398 415 Total depreciation and amortization $ 1,559 $ 1,430 $ 1,404 (a) Includes amortization of purchased intangibles. Assets Total assets for each of our business segments were as follows (in millions): 2024 2023 Assets Aeronautics $ 13,223 $ 13,167 Missiles and Fire Control 5,952 5,703 Rotary and Mission Systems 17,025 17,521 Space 7,388 6,560 Total business segment assets 43,588 42,951 Corporate assets (a) 12,029 9,505 Total assets $ 55,617 $ 52,456 (a) Corporate assets primarily include cash and cash equivalents, deferred income taxes, assets for the portion of environmental costs that are probable of future recovery, property, plant and equipment used in our corporate operations, assets held in a trust for deferred compensation plans, and other marketable investments.

Receivables, net, Contract Asse

Receivables, net, Contract Assets and Contract Liabilities	12 Months Ended
Receivables, net, Contract Assets and Contract Liabilities	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Receivables, net, Contract Assets and Contract Liabilities	Receivables, net, Contract Assets and Contract Liabilities Receivables, net, contract assets and contract liabilities were as follows (in millions): 2024 2023 Receivables, net $ 2,351 $ 2,132 Contract assets 12,957 13,183 Contract liabilities 9,795 9,190 Receivables, net consist of approximately $1.7 billion from the U.S. Government and $665 million from other governments and commercial customers as of December 31, 2024. Substantially all accounts receivable at December 31, 2024 are expected to be collected in 2025. We do not believe we have significant exposure to credit risk as the majority of our accounts receivable are due from the U.S. Government either as the ultimate customer or in connection with foreign military sales. Contract assets are net of progress payments and performance based payments from our customers as well as advance payments from non-U.S. government customers totaling approximately $55.6 billion and $50.5 billion as of December 31, 2024 and 2023. Contract assets decreased $226 million during 2024, primarily due to billings related to the satisfaction or partial satisfaction of performance obligations during 2024 exceeding the revenue recognized (primarily on the F-35 program at Aeronautics). There were no significant credit or impairment losses related to our contract assets during 2024 and 2023. We expect to bill our customers for the majority of the December 31, 2024 contract assets during 2025. Contract liabilities increased $605 million during 2024, primarily due to payments received in excess of revenue recognized on these performance obligations. During 2024, we recognized $5.9 billion of our contract liabilities at December 31, 2023 as revenue. During 2023, we recognized $5.1 billion of our contract liabilities at December 31, 2022 as revenue. During 2022, we recognized $4.8 billion of our contract liabilities at December 31, 2021 as revenue.

Inventories

Inventories	12 Months Ended
Inventories	Dec. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in millions): 2024 2023 Materials, spares and supplies $ 661 $ 606 Work-in-process 2,617 2,338 Finished goods 196 188 Total inventories $ 3,474 $ 3,132 Costs incurred to fulfill a contract in advance of the contract being awarded are included in inventories as work-in-process if we determine that those costs relate directly to a contract or to an anticipated contract that we can specifically identify and determine that the contract award is probable, the costs generate or enhance resources that will be used in satisfying performance obligations, and the costs are recoverable (referred to as pre-contract costs). These advanced procurement costs are generally incurred in order to enhance our ability to achieve schedule and certain customer milestones. Pre-contract costs that are initially capitalized in inventory are generally recognized as cost of sales consistent with the transfer of products and services to the customer upon the receipt of the anticipated contract. All other pre-contract costs, including start-up costs, are expensed as incurred. As of December 31, 2024 and 2023, $1.5 billion and $989 million of pre-contract costs were included in inventories. The increase in pre-contract costs as of December 31, 2024 is primarily driven by the classified contracts at our Aeronautics business segment and Sikorsky helicopter programs at our RMS business segment.

Property, Plant and Equipment,

Property, Plant and Equipment, net	12 Months Ended
Property, Plant and Equipment, net	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net consisted of the following (in millions): 2024 2023 Land $ 143 $ 144 Buildings 9,624 9,049 Machinery and equipment 10,399 9,908 Construction in progress 2,053 2,081 Total property, plant and equipment 22,219 21,182 Less: accumulated depreciation (13,493) (12,812) Total property, plant and equipment, net $ 8,726 $ 8,370 Depreciation expense related to plant and equipment was $967 million in 2024, $920 million in 2023 and $903 million in 2022.

Goodwill and Acquired Intangibl

Goodwill and Acquired Intangibles	12 Months Ended
Goodwill and Acquired Intangibles	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Acquired Intangibles	Goodwill and Acquired Intangibles Changes in the carrying amount of goodwill by business segment were as follows (in millions): Aeronautics MFC RMS Space Total Balance at December 31, 2022 $ 196 $ 2,083 $ 6,726 $ 1,775 $ 10,780 Other — 3 15 1 19 Balance at December 31, 2023 196 2,086 6,741 1,776 10,799 Acquisitions — — — 298 298 Other — (1) (29) — (30) Balance at December 31, 2024 $ 196 $ 2,085 $ 6,712 $ 2,074 $ 11,067 The gross carrying amounts and accumulated amortization of our acquired intangible assets consisted of the following (useful life in years, $ in millions): 2024 2023 Estimated Useful Lives Gross Accumulated Net Gross Accumulated Net Finite-Lived: Customer programs 3 - 20 $ 3,186 $ (2,128) $ 1,058 $ 3,186 $ (1,897) $ 1,289 Customer relationships 5 - 10 94 (91) 3 94 (84) 10 Other 5 - 10 156 (39) 117 72 (46) 26 Total finite-lived intangibles 3,436 (2,258) 1,178 3,352 (2,027) 1,325 Indefinite-Lived: Trademark 837 — 837 887 — 887 Total acquired intangibles $ 4,273 $ (2,258) $ 2,015 $ 4,239 $ (2,027) $ 2,212 Acquired finite-lived intangible assets are amortized to expense primarily on a straight-line basis over their estimated useful lives. Amortization expense for acquired finite-lived intangible assets was $247 million for both 2024 and 2023 and $248 million in 2022. Estimated future amortization expense is as follows: $241 million in 2025; $174 million in 2026; $173 million in 2027; $168 million in 2028; and $159 million in 2029.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2024
Leases [Abstract]
Leases	Leases We generally enter into operating lease agreements for facilities, land and equipment. Our ROU operating lease assets were $1.0 billion at December 31, 2024. Operating lease liabilities were $1.1 billion, of which $833 million were classified as noncurrent, at December 31, 2024. New ROU operating lease assets and liabilities entered into during 2024 were $248 million. The weighted average remaining lease term and discount rate for our operating leases were approximately 6.8 years and 3.5% at December 31, 2024. We recognized operating lease expense of $260 million, $273 million and $275 million in 2024, 2023 and 2022. In addition, we made cash payments of $258 million, $267 million and $269 million for operating leases in 2024, 2023 and 2022, which are included in cash flows from operating activities in our consolidated statement of cash flows. Future minimum lease commitments at December 31, 2024 were as follows (in millions): Total 2025 2026 2027 2028 2029 Thereafter Operating leases $ 1,295 $ 324 $ 213 $ 188 $ 153 $ 129 $ 288 Less: imputed interest 147 Total $ 1,148

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Provisions Federal and foreign income tax expense for continuing operations consisted of the following (in millions): 2024 2023 2022 Federal income tax expense (benefit): Current $ 1,352 $ 1,574 $ 1,618 Deferred (604) (503) (776) Total federal income tax expense 748 1,071 842 Foreign income tax expense: Current 120 102 87 Deferred 16 5 19 Total foreign income tax expense 136 107 106 Total federal and foreign income tax expense $ 884 $ 1,178 $ 948 Our total net state income tax expense was $121 million for 2024, $115 million for 2023, and $124 million for 2022. State income taxes are allowable costs in establishing prices for the products and services we sell to the U.S. Government. Therefore, state income tax expenses are included in our cost of sales, as general and administrative costs. As a result, the impact of certain transactions on our operating profit and of other matters presented in these consolidated financial statements is disclosed net of state income taxes. A reconciliation of the U.S. federal statutory income tax expense to actual income tax expense for continuing operations is as follows (in millions): 2024 2023 2022 Amount Rate Amount Rate Amount Rate Income tax expense at the U.S. federal statutory tax rate $ 1,306 21.0 % $ 1,701 21.0 % $ 1,403 21.0 % Foreign derived intangible income deduction (210) (3.4) (185) (2.3) (176) (2.6) Research and development tax credit (207) (3.3) (227) (2.8) (178) (2.7) Tax deductible dividends (69) (1.1) (69) (0.9) (67) (1.0) Excess tax benefits for stock-based payment awards (20) (0.3) (25) (0.3) (42) (0.6) Other, net (a) 84 1.3 (17) (0.2) 8 0.1 Income tax expense $ 884 14.2 % $ 1,178 14.5 % $ 948 14.2 % (a) Other, net includes foreign income tax expenses for all years. The rates for all periods benefited from tax deductions for foreign derived intangible income, research and development tax credits, dividends paid to our defined contribution plans with an employee stock ownership plan feature and employee equity awards. Uncertain Tax Positions The change in unrecognized tax benefits were as follows (in millions): 2024 2023 2022 Balance at January 1 $ 146 $ 1,622 $ 69 Additions based on tax positions related to the current year 78 50 1,572 Additions for tax positions of prior years 8 32 5 Reductions for tax positions of prior years (2) (1,526) (2) Settlements with tax authorities — (33) (23) Other, net (1) 1 1 Balance at December 31 $ 229 $ 146 $ 1,622 As of December 31, 2024, our liabilities associated with uncertain tax positions were $229 million compared to $146 million as of December 31, 2023. The increase in uncertain tax positions did not have a material impact to our effective tax rate and if these uncertain tax positions were to be recognized in future periods, the impact will not be material. As of December 31, 2022, our liabilities associated with uncertain tax positions were $1.6 billion. The decrease from 2022 to 2023 with a corresponding decrease to net deferred tax assets primarily resulted from our analysis of IRS Notice 2023-63 released on September 8, 2023 confirming that certain expenditures incurred in the performance of cost-type contracts are not subject to research and development capitalization. The reduction in uncertain tax positions did not have a material impact to our effective tax rate. Additionally, we recognize accrued interest and penalties related to unrecognized tax benefits as part of our income tax expense. For the years ended December 31, 2024, 2023 and 2022, our accrued interest and penalties related to unrecognized tax benefits were not material. Deferred Income Taxes The primary components of our federal and foreign deferred income tax assets and liabilities at December 31 were as follows (in millions): 2024 2023 Deferred tax assets related to: Pensions $ 1,184 $ 1,485 Accrued compensation and benefits 741 731 Contract accounting methods 949 508 Research and development expenditures 1,643 1,251 Domestic company operating losses (a) 83 — Foreign company operating losses and credits 6 19 Other (b) 522 487 Valuation allowance (41) (32) Deferred tax assets, net 5,087 4,449 Deferred tax liabilities related to: Goodwill and intangible assets 545 494 Property, plant and equipment 371 415 Other (b) 638 597 Deferred tax liabilities 1,554 1,506 Net deferred tax assets $ 3,533 $ 2,943 (a) Federal net operating losses obtained in the Terran Orbital transaction described above which do not expire. (b) Includes deferred tax assets and liabilities related to lease liability and ROU asset. We and our subsidiaries file federal income tax returns in the U.S. and income tax returns in various foreign jurisdictions. With few exceptions, the statute of limitations for these jurisdictions is no longer open for audit or examination for the years before 2016 with respect to various foreign jurisdictions and before 2018 for federal income taxes in the U.S. We withdrew from the IRS Compliance Assurance Process (CAP) program in 2022 starting with our 2021 tax return. Examinations of the years 2018 to 2021 remain under IRS review. We are also subject to taxation in various states and foreign jurisdictions including Australia, Canada, India, Italy, Japan, Poland, and the United Kingdom. We are under, or may be subject to, audit or examination and additional assessments by the relevant authorities. Our federal and foreign income tax payments, net of refunds, were $1.3 billion in 2024, $1.8 billion in 2023 and $1.6 billion in 2022.

Debt

Debt	12 Months Ended
Debt	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Our total debt consisted of the following (in millions): 2024 2023 Notes 4.95% due 2025 $ 500 $ 500 3.55% due 2026 1,000 1,000 5.10% due 2027 750 750 4.45% due 2028 500 500 4.50% due 2029 650 — 1.85% due 2030 400 400 4.70% due 2031 600 — 3.90% due 2032 800 800 5.25% due 2033 1,000 1,000 4.75% and 4.80% due 2034 1,450 850 3.60% due 2035 500 500 4.50% and 6.15% due 2036 1,054 1,054 4.07% due 2042 1,336 1,336 3.80% due 2045 1,000 1,000 4.70% due 2046 1,326 1,326 2.80% due 2050 750 750 4.09% due 2052 1,578 1,578 4.15% due 2053 850 850 5.70% due 2054 1,000 1,000 5.20% due 2055 1,050 650 4.30% due 2062 650 650 5.90% due 2063 750 750 5.20% due 2064 750 — Other notes with rates from 4.85% to 8.50%, due 2025 to 2041 1,313 1,479 Total debt 21,557 18,723 Less: unamortized discounts and issuance costs (1,287) (1,264) Total debt, net 20,270 17,459 Less: current portion (643) (168) Long-term debt, net $ 19,627 $ 17,291 Revolving Credit Facility On August 24, 2022, we entered into a new Revolving Credit Agreement (the Revolving Credit Agreement) with various banks. The Revolving Credit Agreement consists of a $3.0 billion five-year unsecured revolving credit facility, with the option to increase the credit facility by an additional amount of up to $500 million (for an aggregate amount of up to $3.5 billion), subject to the existing lender approval per the terms and conditions of the agreement. Effective August 23, 2024, we amended the Revolving Credit Agreement to extend the expiration date of the Revolving Credit Agreement from August 24, 2028 to August 24, 2029 and removed the existing financial maintenance covenant. The Revolving Credit Agreement is available for any of our lawful corporate purposes, including supporting commercial paper borrowings. Borrowings under the Revolving Credit Agreement are unsecured and bear interest at rates set forth in the Revolving Credit Agreement. The Revolving Credit Agreement contains customary representations, warranties and covenants, including covenants restricting ours and certain of our subsidiaries’ ability to encumber assets and our ability to merge or consolidate with another entity. There were no borrowings under the Revolving Credit Agreement at December 31, 2024 and 2023. As of December 31, 2024 and 2023, we were in compliance with all covenants contained in the Revolving Credit Agreement as well as in our debt agreements. Commercial Paper We have agreements in place with financial institutions to provide for the issuance of commercial paper. The outstanding balance of commercial paper can fluctuate daily and the amount outstanding during the period may be greater or less than the amount reported at the end of the period. There were no commercial paper borrowings outstanding as of December 31, 2024. We may, as conditions warrant, issue commercial paper backed by our revolving credit agreement to manage the timing of cash flows. Long Term Debt On December 11, 2024, we issued a total of $1.0 billion of senior unsecured notes, consisting of $600 million aggregate principal amount of 4.70% Notes due December 15, 2031 (the 2031 Notes) and $400 million aggregate principal amount of 5.20% Notes due February 15, 2055 (the 2055 Notes together with 2031 Notes, the Notes). The 2055 Notes were issued as additional notes under the indenture pursuant to the initial 2055 Notes and have the same terms as the initial 2055 Notes other than the date of issuance and the issue price. With the issuance of the 2055 Notes, the aggregate principal amount of outstanding 5.20% Notes due February 15, 2055 is $1,050 million. Net proceeds of $990 million were received from the offering after deducting pricing discounts and debt issuance costs, excluding accrued interest on the 2055 Notes. The pricing discounts and debt issuance costs are being amortized and recorded as interest expense over the term of the Notes. We will pay interest on the 2031 Notes semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2025. We will pay interest on the 2055 notes semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2025. We may, at our option, redeem the Notes of any series in whole or in part at any time and from time to time at a redemption price equal to the greater of 100% of the principal amount of the Notes to be redeemed or an applicable make-whole amount, plus accrued and unpaid interest to the date of redemption. The Notes rank equally in right of payment with all of our existing unsecured and unsubordinated indebtedness. On January 29, 2024, we issued a total of $2.0 billion of senior unsecured notes, consisting of $650 million aggregate principal amount of 4.50% Notes due 2029 (the 2029 Notes), $600 million aggregate principal amount of 4.80% Notes due 2034 (the 2034 Notes) and $750 million aggregate principal amount of 5.20% Notes due 2064 (the 2064 Notes and, together with the 2029 Notes and 2034 Notes, the Recent Notes). Net proceeds of $1.98 billion were received from the offering after deducting pricing discounts and debt issuance costs, which are being amortized and recorded as interest expense over the term of the Recent Notes. We pay interest on the Notes semi-annually in arrears on February 15 and August 15 of each year with the first payment made on August 15, 2024. We may, at our option, redeem the Recent Notes of any series in whole or in part at any time and from time to time at a redemption price equal to the greater of 100% of the principal amount of the Recent Notes to be redeemed or an applicable make-whole amount, plus accrued and unpaid interest to the date of redemption. The Recent Notes rank equally in right of payment with all of our existing unsecured and unsubordinated indebtedness. On May 25, 2023, we issued a total of $2.0 billion of senior unsecured notes, consisting of $500 million aggregate principal amount of 4.45% Notes due May 15, 2028 (the 2028 Notes), $850 million aggregate principal amount of 4.75% Notes due February 15, 2034 (the 2034 Notes) and $650 million aggregate principal amount of 5.20% Notes due February 15, 2055 (the initial 2055 Notes and, together with the 2028 Notes and 2034 Notes, the Earlier Notes) in a registered public offering. Net proceeds of $1,975 million were received from the offering after deducting pricing discounts and debt issuance costs, which are being amortized and recorded as interest expense over the term of the Earlier Notes. We paid interest on the 2028 Notes semi-annually in arrears on May 15 and November 15 with the first payment made on November 15, 2023. Additionally, we pay interest on the 2034 Notes and the initial 2055 Notes on February 15 and August 15 of each year with the first payment made on August 15, 2023. We may, at our option, redeem the Earlier Notes of any series in whole or in part at any time and from time to time at a redemption price equal to the greater of 100% of the principal amount of the Earlier Notes to be redeemed or an applicable make-whole amount, plus accrued and unpaid interest to the date of redemption. The Earlier Notes rank equally in right of payment with all of our existing unsecured and unsubordinated indebtedness. We made interest payments of approximately $950 million, $832 million and $573 million during the years ended December 31, 2024, 2023 and 2022.

Postretirement Benefit Plans

Postretirement Benefit Plans	12 Months Ended
Postretirement Benefit Plans	Dec. 31, 2024
Retirement Benefits [Abstract]
Postretirement Benefit Plans	Postretirement Benefit Plans Plan Descriptions Many of our employees and retirees participate in various postretirement benefit plans including defined benefit pension, retiree medical and life insurance, defined contribution retirement savings, and other postemployment plans. Substantially all of our postretirement benefit obligations relate to U.S. based defined benefit pension plans and retiree medical and life insurance plans. The majority of our U.S. defined benefit pension plans provide for benefits within limits imposed by federal tax law (referred to as qualified plans). However, certain of our U.S. defined benefit pension plans provide for benefits in excess of qualified plan limits imposed by federal tax law (referred to as nonqualified plans). Salaried employees hired after December 31, 2005 are not eligible to participate in our qualified defined benefit pension plans, but are eligible to participate in a qualified defined contribution plan and other retirement savings plans for which they may qualify. They also have the ability to participate in our retiree medical plans, but we do not subsidize the cost of their participation in those plans as we do with employees hired before January 1, 2006. Over the last few years, we have negotiated similar changes with various labor organizations such that new union represented employees do not participate in our defined benefit pension plans. Our defined benefit pension plans for salaried employees were fully frozen effective January 1, 2020, at which time such employees no longer earn additional benefits under the defined benefit pension plans and were transitioned to a defined contribution retirement savings plan. Qualified Defined Benefit Pension Plans and Retiree Medical and Life Insurance Plans FAS Income (Expense) The pretax FAS income (expense) related to our qualified defined benefit pension plans and retiree medical and life insurance plans included the following (in millions): Qualified Defined Retiree Medical and 2024 2023 2022 2024 2023 2022 Operating: Service cost $ (60) $ (65) $ (87) $ (5) $ (5) $ (9) Non-operating: Interest cost (1,398) (1,459) (1,289) (63) (68) (49) Expected return on plan assets 1,572 1,722 1,854 107 103 136 Amortization of net actuarial (losses) gains (259) (168) (425) 35 31 46 Amortization of prior service credits (costs) 147 348 359 (4) (10) (27) Settlement charge (a) — — (1,470) — — — Non-service FAS income (expense) 62 443 (971) 75 56 106 Total FAS income (expense) $ 2 $ 378 $ (1,058) $ 70 $ 51 $ 97 (a) During 2022, we recognized a settlement charge of $1.5 billion related to the accelerated recognition of actuarial losses for certain defined benefit pension plans that purchased group annuity contracts from an insurance company. We record the service cost component of FAS income (expense) for our qualified defined benefit pension plans and retiree medical and life insurance plans in the cost of sales accounts; the non-service components of our FAS income (expense) for our qualified defined benefit pension plans in the non-service FAS pension income (expense) account; and the non-service components of our FAS income (expense) for our retiree medical and life insurance plans as part of the other non-operating income (expense), net account on our consolidated statements of earnings. Funded Status The following table provides a reconciliation of benefit obligations, plan assets and net (unfunded) funded status of our qualified defined benefit pension plans and our retiree medical and life insurance plans (in millions): Qualified Defined Retiree Medical and 2024 2023 2024 2023 Change in benefit obligation Beginning balance (a) $ 28,959 $ 28,698 $ 1,328 $ 1,359 Service cost 60 65 5 5 Interest cost 1,398 1,459 63 68 Actuarial losses (gains) (b) (1,556) 731 (158) 27 Settlements (c) — (414) — — Plan amendments 2 6 — 1 Benefits paid (1,664) (1,586) (178) (192) Medicare Part D subsidy — — 2 1 Participants’ contributions — — 52 59 Ending balance (a) $ 27,199 $ 28,959 $ 1,114 $ 1,328 Change in plan assets Beginning balance at fair value $ 22,800 $ 23,228 $ 1,715 $ 1,656 Actual return on plan assets (d) 288 1,572 86 190 Settlements (c) — (414) — — Benefits paid (1,664) (1,586) (178) (192) Company contributions 990 — 1 1 Medicare Part D subsidy — — 2 1 Participants’ contributions — — 52 59 Ending balance at fair value $ 22,414 $ 22,800 $ 1,678 $ 1,715 (Unfunded) funded status of the plans $ (4,785) $ (6,159) $ 564 $ 387 (a) Benefit obligation balances represent the projected benefit obligation for our qualified defined benefit pension plans, which is approximately equal to accumulated benefit obligation, and accumulated benefit obligation for our retiree medical and life insurance plans. (b) Actuarial gains for our qualified defined benefit pension plans in 2024 primarily reflect an increase in the discount rate from 5.00% at December 31, 2023 to 5.625% at December 31, 2024, which decreased benefit obligations by approximately $1.8 billion offset by net losses of approximately $250 million due to changes in demographic data and assumptions. Actuarial gains for our retiree medical and life insurance plans in 2024 primarily reflect an increase in the discount rate from 5.00% at December 31, 2023 to 5.50% at December 31, 2024 and gains due to changes in demographic data and assumptions. Actuarial losses for our qualified defined benefit pension plans in 2023 primarily reflect a decrease in the discount rate from 5.25% at December 31, 2022 to 5.00% at December 31, 2023, which increased benefit obligations by approximately $765 million. Actuarial losses for our retiree medical and life insurance plans in 2023 reflect a decrease in the discount rate from 5.25% at December 31, 2022 to 5.00% at December 31, 2023. (c) Qualified defined benefit pension plans settlements in 2023 include $414 million in the form of lump-sum settlement payments to former employees who had not commenced receiving their vested benefit payments. The settlement payments had no impact on year 2023 FAS pension income. (d) Actual return on plan assets for our qualified defined benefit pension plans was approximately 1% in 2024 and 7% in 2023 versus the 6.50% long-term rate of return assumption. We are required to recognize the net funded status of each postretirement benefit plan on a standalone basis as either an asset or a liability on our consolidated balance sheet. The funded status is measured as the difference between the fair value of each plan’s assets and the benefit obligation. Each year we measure the fair value of each plan’s assets and benefit obligation on December 31, consistent with our fiscal year end. The fair value of each plan’s benefit obligation reflects assumptions in effect as of the measurement date as described below. For certain of our qualified defined benefit pension plans and retiree medical and life insurance plans the plan assets may exceed the benefit obligation, for which we recognize the net amount as an asset on our consolidated balance sheet. Conversely, for most of our qualified defined benefit pension plans the benefit obligation exceeds plan assets, for which we recognize the net amount as a liability on our consolidated balance sheet. The following table provides amounts recognized on our consolidated balance sheets related to our qualified defined benefit pension plans and our retiree medical and life insurance plans (in millions): Qualified Defined Retiree Medical and 2024 2023 2024 2023 Other noncurrent assets $ 6 $ 3 $ 564 $ 387 Accrued pension liabilities (4,791) (6,162) — — Net (unfunded) funded status of the plans $ (4,785) $ (6,159) $ 564 $ 387 Differences between the actual return and expected return on plan assets during the year, and changes in the benefit obligation for our qualified defined benefit pension plans and retiree medical and life insurance plans due to changes in the annual valuation assumptions, generate actuarial gains or losses. Additionally, the benefit obligation for our qualified defined benefit pension plans and retiree medical and life insurance plans may increase or decrease as a result of plan amendments that affect the benefits to plan participants related to service for periods prior to the effective date of the amendment, which generates prior service costs or credits. Actuarial gains or losses, and prior service costs or credits, are initially deferred in accumulated other comprehensive loss and subsequently amortized for each plan into income or (expense) on a straight-line basis either over the average remaining life expectancy of plan participants or over the average remaining service period of plan participants, subject to certain thresholds. The following table provides the amount of actuarial gains or losses, and prior service costs or credits, recognized in accumulated other comprehensive loss related to qualified defined benefit pension plans and retiree medical and life insurance plans at December 31 (in millions): Qualified Defined Retiree Medical and 2024 2023 2024 2023 Accumulated other comprehensive (loss) pre-tax related to: Net actuarial (losses) gains $ (10,469) $ (10,999) $ 518 $ 416 Prior service (costs) credits (164) (15) 2 (2) Total $ (10,633) $ (11,014) $ 520 $ 414 Estimated tax 2,255 2,339 (110) (87) Net amount recognized in accumulated other comprehensive (loss) $ (8,378) $ (8,675) $ 410 $ 327 The following table provides the changes recognized in accumulated other comprehensive loss, net of tax, for actuarial gains or losses and prior service costs or credits due to differences between the actual return and expected return on plan assets and changes in the fair value of the benefit obligation recognized in connection with our annual remeasurement and the amortization during the year for our qualified defined benefit pension plans, retiree medical and life insurance plans, and certain other plans (in millions): Incurred but Not Yet Recognition of 2024 2023 2022 2024 2023 2022 Actuarial gains and (losses) Qualified defined benefit pension plans $ 211 $ (698) $ 1,952 $ (204) $ (133) $ (1,490) Retiree medical and life insurance plans 108 47 (95) 28 25 36 Other plans 23 (33) 165 (12) (8) (39) 342 (684) 2,022 (188) (116) (1,493) Net prior service credit and (cost) Qualified defined benefit pension plans (2) (5) (146) 116 274 283 Retiree medical and life insurance plans — (1) (1) (3) (8) (22) Other plans — 1 (2) (1) (1) 7 (2) (5) (149) 112 265 268 Total $ 340 $ (689) $ 1,873 $ (76) $ 149 $ (1,225) Assumptions Used to Determine Benefit Obligations and FAS (Expense) Income We measure the fair value of each plan’s assets and benefit obligation on December 31, consistent with our fiscal year end. Benefit obligations as of the end of each year reflect assumptions in effect as of those dates. Expense is based on assumptions in effect at the end of the preceding year or from the most recent interim remeasurement. The assumptions used to determine the benefit obligations at December 31 of each year and FAS expense for each subsequent year were as follows: Qualified Defined Benefit Retiree Medical and 2024 2023 2022 2024 2023 2022 Weighted average discount rate 5.625 % 5.00 % 5.25 % 5.50 % 5.00 % 5.25 % Expected long-term rate of return on assets 6.50 % 6.50 % 6.50 % 6.50 % 6.50 % 6.50 % Health care trend rate assumed for next year 8.50 % 8.00 % 7.25 % Ultimate health care trend rate 4.50 % 4.50 % 4.50 % Year ultimate health care trend rate is reached 2041 2038 2034 The long-term rate of return assumption represents the expected long-term rate of earnings on the funds invested, or to be invested, to provide for the benefits included in the benefit obligations. That assumption is based on several factors including historical market index returns, the anticipated long-term allocation of plan assets, the historical return data for the trust funds, plan expenses and the potential to outperform market index returns. The actual investment return for our qualified defined benefit plans during 2024 was approximately 1%. Plan Assets Our wholly owned subsidiary, Lockheed Martin Investment Management Company (LMIMCo), has the fiduciary responsibility for making investment decisions related to the assets of our postretirement benefit plans. LMIMCo’s investment objectives for the assets of these plans are (1) to minimize the net present value of expected funding contributions; (2) to ensure there is a high probability that each plan meets or exceeds our actuarial long-term rate of return assumptions; and (3) to diversify assets to minimize the risk of large losses. The nature and duration of benefit obligations, along with assumptions concerning asset class returns and return correlations, are considered when determining an appropriate asset allocation to achieve the investment objectives. Investment policies and strategies governing the assets of the plans are designed to achieve investment objectives within prudent risk parameters. Risk management practices include the use of external investment managers; the maintenance of a portfolio diversified by asset class, investment approach and security holdings; and the maintenance of sufficient liquidity to meet benefit obligations as they come due. LMIMCo’s investment policies require that asset allocations of postretirement benefit plans be maintained within the following approximate ranges: Asset Class Asset Allocation Cash and cash equivalents 0-20% Global Equity 10-65% Fixed income 10-60% Alternative investments: Private equity funds 5-30% Real estate funds 0-20% Hedge funds 0-20% Commodities 0-10% The following table presents the fair value of the assets of our qualified defined benefit pension plans and retiree medical and life insurance plans by asset category and their level within the fair value hierarchy (see “Note 1 – Organization and Significant Accounting Policies - Investments” for definition of these levels), which we are required to disclose even though these assets are not separately recorded on our consolidated balance sheet. Certain investments are measured at their Net Asset Value (NAV) per share because such investments do not have readily determinable fair values and, therefore, are not required to be categorized in the fair value hierarchy. Assets measured at NAV have been included in the table below to permit reconciliation of the fair value hierarchy to amounts presented in the funded status table above. December 31, 2024 December 31, 2023 (in millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Investments measured at fair value Cash and cash equivalents (a) $ 2,425 $ 2,425 $ — $ — $ 1,789 $ 1,789 $ — $ — Equity (a) : U.S. equity securities 3,232 3,158 — 74 2,802 2,715 8 79 International equity securities 1,827 1,810 — 17 1,875 1,853 — 22 Commingled equity funds 382 170 212 — 423 163 260 — Fixed income (b) : Corporate debt securities 4,159 — 4,099 60 4,510 — 4,495 15 U.S. Government securities 2,483 — 2,483 — 2,376 — 2,376 — U.S. Government-sponsored enterprise securities 1,134 — 1,134 — 1,120 — 1,120 — Interest rate swaps, net (1,878) (1,878) (1,284) (1,284) Other fixed income investments (c) 2,050 60 882 1,108 1,949 63 725 1,161 Total $ 15,814 $ 7,623 $ 6,932 $ 1,259 $ 15,560 $ 6,583 $ 7,700 $ 1,277 Investments measured at NAV Other fixed income investments 552 826 Private equity funds 4,863 4,951 Real estate funds 3,088 3,267 Hedge funds 1,028 847 Total investments measured at NAV 9,531 9,891 Loan, net (d) (473) (497) (Payables) Receivables, net (780) (439) Total $ 24,092 $ 24,515 (a) Cash and cash equivalents and equity securities include derivative assets and liabilities with fair values that were not material as of December 31, 2024 and 2023. LMIMCo’s investment policies restrict the use of derivatives to either establish long or short exposures for purposes consistent with applicable investment mandate guidelines or to hedge risks to the extent of a plan’s current exposure to such risks. Most derivative transactions are settled on a daily basis. (b) Fixed income securities include (i) derivative exposure for the liability hedge, which constitutes most of the value in interest rate swaps, and (ii) other derivative exposure with fair values that were not material as of December 31, 2024 and 2023. (c) Level 3 investments include 1.0 billion at December 31, 2024 and $1.1 billion at December 31, 2023 related to buy-in contracts. (d) The Lockheed Martin Corporation Master Retirement Trust (MRT) obtained a loan from a third-party financial institution, collateralized by private equity investments, to invest in fixed income securities. Changes in the fair value of plan assets categorized as Level 3 during 2024 and 2023 were not significant. Cash equivalents are mostly comprised of short-term money-market instruments or short-term investment funds and are valued at cost, which approximates fair value. U.S. equity securities and international equity securities categorized as Level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year. For U.S. equity securities and international equity securities not traded on an active exchange, or if the closing price is not available, the trustee obtains indicative quotes from a pricing vendor, broker or investment manager. These securities are categorized as Level 2 if the custodian obtains corroborated quotes from a pricing vendor or categorized as Level 3 if the custodian obtains uncorroborated quotes from a broker or investment manager. Commingled equity funds categorized as Level 1 are traded on active national and international exchanges and are valued at their closing prices on the last trading day of the year. For commingled equity funds not traded on an active exchange, or if the closing price is not available, the trustee obtains indicative quotes from a pricing vendor, broker or investment manager. These securities are categorized as Level 2 if the custodian obtains corroborated quotes from a pricing vendor. Fixed income investments categorized as Level 1 are publicly exchange-traded. Fixed income investments, including interest rate swaps, categorized as Level 2 are valued by the trustee using pricing models that use verifiable observable market data (e.g., interest rates and yield curves observable at commonly quoted intervals and credit spreads), bids provided by brokers or dealers or quoted prices of securities with similar characteristics. Fixed income investments are categorized as Level 3 when valuations using observable inputs are unavailable. The trustee typically obtains pricing based on indicative quotes or bid evaluations from vendors, brokers or the investment manager. In addition, certain other fixed income investments categorized as Level 3 are valued using a discounted cash flow approach. Significant inputs include projected annuity payments and the discount rate applied to those payments. Certain fixed income funds are recorded using the NAV practical expedient. The NAV valuations are based on the underlying investments and typically redeemable within 90 days. The NAV is the total value of the fund divided by the number of the fund’s shares outstanding. Private equity funds consist of partnerships and similar vehicles and are recorded using the NAV practical expedient. The NAV valuations are based on valuation models of the underlying securities, which includes unobservable inputs that cannot be corroborated using verifiable observable market data. These funds typically have terms between eight Real estate funds consist of partnerships and similar vehicles and are recorded using the NAV practical expedient. The NAV valuations are based on valuation models and periodic appraisals. These funds typically have terms between eight Hedge funds generally consist of separate accounts and commingled funds and are recorded using the NAV practical expedient. The NAV valuations are based on the valuation of the underlying investments. Redemptions in hedge funds generally range from a minimum of one month to several months. Contributions and Expected Benefit Payments The required funding of our qualified defined benefit pension plans is determined in accordance with ERISA, as amended, and in a manner consistent with CAS and Internal Revenue Code rules. We made $990 million of cash contributions to our qualified defined benefit pension plans in 2024. There are no expected required contributions to our qualified defined benefit pension plans in 2025. The following table presents estimated future benefit payments as of December 31, 2024 (in millions): 2025 2026 2027 2028 2029 2030 – 2034 Qualified defined benefit pension plans $ 1,800 $ 1,860 $ 1,910 $ 1,960 $ 1,990 $ 9,990 Retiree medical and life insurance plans 110 110 110 100 100 440 We maintain various trusts to fund the obligations of our qualified defined benefit pension plans and retiree medical and life insurance plans. We expect the estimated future benefit payments will be paid using assets in the trusts established for the plans. Nonqualified Defined Benefit Pension Plans and Other Postemployment Plans We sponsor nonqualified defined benefit pension plans to provide benefits in excess of qualified plan limits imposed by federal tax law. The gross benefit obligation for these plans was $905 million and $1.0 billion as of December 31, 2024 and 2023, most of which was recorded in the other noncurrent liabilities account on our consolidated balance sheet. We have set aside certain assets totaling $658 million and $615 million as of December 31, 2024 and 2023 in a separate trust that we expect to use to pay the benefit obligations under our nonqualified defined benefit pension plans, most of which were recorded in the other noncurrent assets account on our consolidated balance sheet. We record the gross assets on our consolidated balance sheet, rather than netting such assets with the benefit obligation for our nonqualified defined benefit pension plans, because the assets held are diversified and legally the assets may be used to settle other obligations or claims (although that is not our intent). Actuarial losses and unrecognized prior service credits related to our nonqualified defined benefit pension plans that were recorded in accumulated other comprehensive loss, pretax, totaled $303 million and $347 million at December 31, 2024 and 2023. We recognized pretax pension expense of $62 million in 2024, $64 million in 2023 and $81 million in 2022 related to our nonqualified defined benefit pension plans. The assumptions used to determine the benefit obligations and FAS expense for our nonqualified defined benefit pension plans are similar to the assumptions for our qualified defined benefit pension plans described above. We also sponsor other postemployment and foreign benefit plans, which are accounted for similar to defined benefit pension plans. The benefit obligations, assets, expense, and amounts recorded in accumulated other comprehensive loss for other postemployment and foreign benefit plans were not material to our financial condition and results of operations. Defined Contribution Retirement Savings Plans We maintain a number of defined contribution retirement savings plans, most with 401(k) features, that cover substantially all of our employees. Under the provisions of these plans, employees can make contributions on a before-tax and after-tax basis to investment funds to save for retirement. For most plans, we make employer contributions to the employee accounts that comprise of a company non-elective contribution and a matching contribution. Company matching contributions are automatically invested in an Employee Stock Ownership Plan (ESOP) fund, which primarily invests in shares of our common stock. Plan participants can transfer from the ESOP fund into any investment option provided by the respective plan. Our contributions to defined contribution retirement savings plans were $1.2 billion in both 2024 and 2023. Our defined contribution retirement savings plans held 24.9 million and 26.6 million shares of our common stock at December 31, 2024 and 2023.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity At December 31, 2024 and 2023, our authorized capital was composed of 1.5 billion shares of common stock and 50 million shares of series preferred stock. Of the 235 million and 242 million shares of common stock issued and outstanding as of December 31, 2024 and December 31, 2023, 234 million and 240 million shares were considered outstanding for consolidated balance sheet presentation purposes; the remaining shares were held in a separate trust. No shares of preferred stock were issued and outstanding at December 31, 2024 or 2023. Repurchases of Common Stock During 2024, we repurchased 7.5 million shares of our common stock in open market purchases for $3.7 billion. During 2023, we repurchased 13.4 million shares of our common stock for $6.0 billion pursuant to accelerated share repurchase (ASR) agreements and open market purchases. We also retired an additional 1.5 million shares received for no additional consideration in the first quarter of 2023 upon final settlement of an ASR agreement executed in the fourth quarter of 2022. The total remaining authorization for future common stock repurchases under our share repurchase program was $9.3 billion as of December 31, 2024, which includes the $3.0 billion increase to our share repurchase program authorized by our Board of Directors in October 2024. As we repurchase our common shares, we reduce common stock for the $1 of par value of the shares repurchased, with the excess purchase price over par value recorded as a reduction of additional paid-in capital. If additional paid-in capital is reduced to zero, we record the remainder of the excess purchase price over par value as a reduction of retained earnings. Dividends We paid dividends totaling $3.1 billion ($12.75 per share) in 2024, $3.1 billion ($12.15 per share) in 2023 and $3.0 billion ($11.40 per share) in 2022. We paid quarterly dividends of $3.15 per share during each of the first three quarters of 2024 and $3.30 per share during the fourth quarter of 2024; $3.00 per share during each of the first three quarters of 2023 and $3.15 per share during the fourth quarter of 2023; and $2.80 per share during each of the first three quarters of 2022 and $3.00 per share during the fourth quarter of 2022. Accumulated Other Comprehensive Loss Changes in the balance of AOCL, net of taxes, consisted of the following (in millions): Postretirement Benefit Plans (a) Other, net AOCL Balance at December 31, 2021 $ (10,964) $ (42) $ (11,006) Other comprehensive income (loss) before reclassifications 1,873 (159) 1,714 Amounts reclassified from AOCL Pension settlement charge (b) 1,156 — 1,156 Recognition of net actuarial losses 337 — 337 Amortization of net prior service credits (268) — (268) Other — 44 44 Total reclassified from AOCL 1,225 44 1,269 Total other comprehensive income (loss) 3,098 (115) 2,983 Balance at December 31, 2022 (7,866) (157) (8,023) Other comprehensive (loss) income before reclassifications (689) 23 (666) Amounts reclassified from AOCL Recognition of net actuarial losses 116 — 116 Amortization of net prior service credits (265) — (265) Other — 35 35 Total reclassified from AOCL (149) 35 (114) Total other comprehensive (loss) income (838) 58 (780) Balance at December 31, 2023 (8,704) (99) (8,803) Other comprehensive income (loss) before reclassifications 340 (104) 236 Amounts reclassified from AOCL Recognition of net actuarial losses 188 — 188 Amortization of net prior service credits (112) — (112) Other — 39 39 Total reclassified from AOCL 76 39 115 Total other comprehensive income (loss) 416 (65) 351 Balance at December 31, 2024 $ (8,288) $ (164) $ (8,452) (a) AOCL related to postretirement benefit plans is shown net of tax benefits of $2.2 billion at December 31, 2024, $2.3 billion at December 31, 2023 and $2.1 billion at December 31, 2022. These tax benefits include amounts recognized on our income tax returns as current deductions and deferred income taxes, which will be recognized on our tax returns in future years. See “Note 9 – Income Taxes” and “Note 11 – Postretirement Benefit Plans” for more information on our income taxes and postretirement benefit plans. (b) During 2022, we recognized a noncash, non-operating pension settlement charge of $1.5 billion ($1.2 billion, or $4.33 per share, after-tax) related to the accelerated recognition of actuarial losses included in AOCL for certain defined benefit pension plans that purchased a group annuity contract from an insurance company (see “Note 11 – Postretirement Benefit Plans”).

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
Stock-Based Compensation	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-Based Compensation Plans Under plans approved by our stockholders, we are authorized to grant key employees stock-based incentive awards, including options to purchase common stock, stock appreciation rights, RSUs, PSUs or other stock units. At December 31, 2024, inclusive of the shares reserved for outstanding RSUs and PSUs, we had approximately 7.7 million shares reserved for issuance under the plans. At December 31, 2024, we had no outstanding options to purchase common stock and have not issued stock options to employees since 2012. At December 31, 2024, approximately 5.3 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans. We issue new shares when restrictions on RSUs and PSUs have been satisfied. The minimum vesting period under our equity compensation plan for employees generally is one year, although most RSUs granted annually to executives and other key employees vest over three years. Award agreements may provide for vesting periods between one During 2024, 2023 and 2022, we recorded noncash stock-based compensation expense totaling $277 million, $265 million and $238 million, which is included as a component of other unallocated, net on our consolidated statements of earnings. The net impact to earnings for the respective years was $219 million, $209 million and $188 million. As of December 31, 2024, we had $235 million of unrecognized compensation cost related to nonvested awards, which is expected to be recognized over a weighted average period of 1.6 years. We received zero cash from the exercise of stock options during both 2024 and 2023 and $8 million during and 2022. In addition, our income tax liabilities for 2024, 2023 and 2022 were reduced by $67 million, $78 million and $124 million due to recognized tax benefits on stock-based compensation arrangements. Restricted Stock Units The following table summarizes activity related to nonvested RSUs: Number Weighted Average Nonvested at December 31, 2023 922 $ 409.17 Granted 613 428.43 Vested (505) 381.71 Forfeited (48) 435.75 Nonvested at December 31, 2024 982 $ 434.01 In 2024, we granted certain employees approximately 0.6 million RSUs with a weighted average grant-date fair value of $428.43 per RSU. The grant-date fair value of these RSUs is equal to the closing market price of our common stock on the grant date less a discount to reflect the delay in payment of dividend-equivalent cash payments that are made only upon vesting, which occurs at least one year from the grant date and most often occurs three years from the grant date. Performance Stock Units In 2024, we granted certain employees PSUs with an aggregate target award of approximately 0.1 million shares of our common stock. The PSUs generally vest three years from the grant date based on continuous service, with the number of shares earned (0% to 200% of the target award) depending upon the extent to which we achieve certain financial and market performance targets measured over the period from January 1, 2024 through December 31, 2026. About half of the PSUs were valued at a weighted average grant-date fair value of $426.70 per PSU in a manner similar to RSUs mentioned above as the financial targets are based on our operating results. The remaining PSUs were valued at a weighted-average grant-date fair value of $417.72 per PSU using a Monte Carlo model as the performance target is related to our total shareholder return relative to our peer group. We recognize the grant-date fair value of these awards, less estimated forfeitures, as compensation expense ratably over the vesting period.

Legal Proceedings, Commitments

Legal Proceedings, Commitments and Contingencies	12 Months Ended
Legal Proceedings, Commitments and Contingencies	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings, Commitments and Contingencies	Legal Proceedings, Commitments and Contingencies Legal Proceedings We are a party to litigation and other proceedings that arise in the ordinary course of our business, including matters arising under provisions relating to the protection of the environment, and are subject to contingencies related to certain businesses we previously owned. These types of matters could result in fines, penalties, cost reimbursements or contributions, compensatory or treble damages or non-monetary sanctions or relief. We believe the probability is remote that the outcome of each of these matters, including the legal proceedings described below, will have a material adverse effect on the company as a whole, notwithstanding that the unfavorable resolution of any matter may have a material effect on our net earnings and cash flows in the period in which it is recognized. Among the factors that we consider in this assessment are the nature of existing legal proceedings and claims, the asserted or possible damages or loss contingency (if estimable), the progress of the case, existing law and precedent, the opinions or views of legal counsel and other advisers, our experience in similar cases and the experience of other companies, the facts available to us at the time of assessment and how we intend to respond to the proceeding or claim. Our assessment of these factors may change over time as individual proceedings or claims progress. Although we cannot predict the outcome of legal or other proceedings with certainty, where there is at least a reasonable possibility that a loss may have been incurred, GAAP requires us to disclose an estimate of the reasonably possible loss or range of loss or make a statement that such an estimate cannot be made. We follow a thorough process in which we seek to estimate the reasonably possible loss or range of loss, and only if we are unable to make such an estimate do we conclude and disclose that an estimate cannot be made. Accordingly, unless otherwise indicated below in our discussion of legal proceedings, a reasonably possible loss or range of loss associated with any individual legal proceeding cannot be estimated. Lockheed Martin v. Metropolitan Transportation Authority On April 24, 2009, we filed a declaratory judgment action against the New York Metropolitan Transportation Authority and its Capital Construction Company (collectively, the MTA) asking the U.S. District Court for the Southern District of New York to find that the MTA is in material breach of our agreement based on the MTA’s failure to provide access to sites where work must be performed and the customer-furnished equipment necessary to complete the contract. The MTA filed an answer and counterclaim alleging that we breached the contract and subsequently terminated the contract for alleged default. The primary damages sought by the MTA are the costs to complete the contract and potential re-procurement costs. While we are unable to estimate the cost of another contractor to complete the contract and the costs of re-procurement, we note that our contract with the MTA had a total value of $323 million, of which $241 million was paid to us, and that the MTA is seeking damages of approximately $190 million. We dispute the MTA’s allegations and are defending against them. Additionally, following an investigation, our sureties on a performance bond related to this matter, who were represented by independent counsel, concluded that the MTA’s termination of the contract was improper. Finally, our declaratory judgment action was later amended to include claims for monetary damages against the MTA of approximately $95 million. This matter was taken under submission by the District Court in December 2014, after a five-week bench trial and the filing of post-trial pleadings by the parties. We continue to await a decision from the District Court. Although this matter relates to our former Information Systems & Global Solutions business (IS&GS), we retained responsibility for the litigation when we divested IS&GS in 2016. Environmental Matters We are involved in proceedings and potential proceedings relating to soil, sediment, surface water, and groundwater contamination, disposal of hazardous substances, and other environmental matters at several of our current or former facilities, facilities for which we may have contractual responsibility, and at third-party sites where we have been designated as a potentially responsible party (PRP). A substantial portion of environmental costs will be included in our net sales and cost of sales in future periods pursuant to U.S. Government regulations. At the time a liability is recorded for future environmental costs, we record assets for estimated future recovery considered probable through the pricing of products and services to agencies of the U.S. Government, regardless of the contract form (e.g., cost-reimbursable, fixed-price). We continually evaluate the recoverability of our assets for the portion of environmental costs that are probable of future recovery by assessing, among other factors, U.S. Government regulations, our U.S. Government business base and contract mix, and our history of receiving reimbursement of such costs. We include the portions of those environmental costs expected to be allocated to our non-U.S. Government contracts, or determined not to be recoverable under U.S. Government contracts, in our cost of sales at the time the liability is established or adjusted. At December 31, 2024 and 2023, the aggregate amount of liabilities recorded relative to environmental matters was $677 million and $680 million, most of which are recorded in other noncurrent liabilities $613 million at December 31, 2024 and 2023, most of which are recorded in other noncurrent assets on our consolidated balance sheets. See “Note 1 – Organization and Significant Accounting Policies” for more information. Environmental remediation activities usually span many years, which makes estimating liabilities a matter of judgment because of uncertainties with respect to assessing the extent of the contamination as well as such factors as changing remediation technologies and changing regulatory environmental standards. We are monitoring or investigating a number of former and present operating facilities for potential future remediation. We perform quarterly reviews of the status of our environmental remediation sites and the related liabilities and receivables. Additionally, in our quarterly reviews, we consider these and other factors in estimating the timing and amount of any future costs that may be required for remediation activities, and we record a liability when it is probable that a loss has occurred or will occur for a particular site and the loss can be reasonably estimated. The amount of liability recorded is based on our estimate of the costs to be incurred for remediation for that site. We do not discount the recorded liabilities, as the amount and timing of future cash payments are not fixed or cannot be reliably determined. We cannot reasonably determine the extent of our financial exposure in all cases as, although a loss may be probable or reasonably possible, in some cases it is not possible at this time to estimate the reasonably possible loss or range of loss. We project costs and recovery of costs over approximately 20 years. We also pursue claims for recovery of costs incurred or for contribution to site remediation costs against other PRPs, including the U.S. Government, and are conducting remediation activities under various consent decrees, orders, and agreements relating to soil, groundwater, sediment, or surface water contamination at certain sites of former or current operations. Under agreements related to certain sites in California, New York, United States Virgin Islands and Washington, the U.S. Government and/or a private party reimburses us an amount equal to a percentage, specific to each site, of expenditures for certain remediation activities in their capacity as PRPs under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). In addition to the proceedings and potential proceedings discussed above, potential new regulations concerning perchlorate and hexavalent chromium at the federal and state level could increase our cleanup costs. If substantially lower cleanup standards are adopted for perchlorate or hexavalent chromium, we expect a material increase in both our estimates for environmental liabilities and the related assets for the portion of costs that are probable of future recovery. The amount that would be allocable to our non-U.S. Government contracts or that is determined not to be recoverable under U.S. Government contracts would be expensed, which may have a material effect on our earnings in any particular interim reporting period. We also are evaluating the potential impact of new, existing, and contemplated requirements addressing a class of chemicals known generally as per- and polyfluoroalkyl substances (PFAS). PFAS are common and appear in products such as fire-fighting foams and stain- and stick-resistant products (e.g., Teflon, stain-resistant fabrics) and have been used in manufacturing processes. Regulations requiring very low PFAS contaminant levels in drinking water could eventually lead to increased cleanup costs at a number of our environmental remediation sites. Letters of Credit, Surety Bonds and Third-Party Guarantees We have entered into standby letters of credit and surety bonds issued on our behalf by financial institutions, and we have directly issued guarantees to third parties primarily relating to advances received from customers and the guarantee of future performance on certain contracts. Letters of credit and surety bonds generally are available for draw down in the event we do not perform. We had total outstanding letters of credit and surety bonds aggregating $2.7 billion and $2.9 billion at December 31, 2024 and December 31, 2023. Third-party guarantees do not include guarantees issued on behalf of subsidiaries and other consolidated entities. Additionally, we may guarantee the contractual performance of third parties such as joint venture partners. At December 31, 2024 and 2023, third-party guarantees totaled $351 million and $1.0 billion, of which approximately 30% and 75% related to guarantees of contractual performance of joint ventures to which we currently are or previously were a party. These amounts represent our estimate of the maximum amounts we would expect to incur upon the contractual non-performance of the joint venture, joint venture partners or divested businesses. Generally, we also have cross-indemnities in place that may enable us to recover amounts that may be paid on behalf of a joint venture partner. Third-party guarantees do not include guarantees issued on behalf of subsidiaries and other consolidated entities. In determining our exposures, we evaluate the reputation, performance on contractual obligations, technical capabilities and credit quality of our current and former joint venture partners and the transferee under novation agreements all of which include a guarantee as required by the FAR. At December 31, 2024 and 2023, there were no material amounts recorded in our financial statements related to third-party guarantees or novation agreements. Other Contingencies On April 22, 2024, the Armed Services Board of Contract Appeals (ASBCA) sustained our claim associated with a contract to modernize and install new engines in C-5 Galaxy aircraft. The ASBCA ruled that we are entitled to $132 million for impacts due to excessive “over and above” work performed under the contract plus interest on the amount since the date of our claim in October 2018. During the third quarter of 2024, the Department of Justice filed a notice of appeal of the ASBCA’s decision with the U.S. Court of Appeals for the Federal Circuit and, on the anticipated basis of the Government’s appeal, we recognized approximately $85 million of sales and operating profit. Subsequently, on December 18, 2024, the Government voluntarily dismissed its appeal of the ASBCA’s decision in the U.S. Court of Appeals for the Federal Circuit. Following the dismissal, in the fourth quarter of 2024, we recognized the remaining approximately $70 million of sales and operating profit and received payment of the full award of approximately $155 million, which includes accrued interest, resolving this matter in our favor. Independent of this matter and as a U.S. Government contractor, we are subject to various audits and investigations by the U.S. Government to determine whether our operations are being conducted in accordance with applicable regulatory requirements. U.S. Government investigations of us, whether relating to U.S. Government contracts or conducted for other reasons, could result in civil or criminal penalties and administrative sanctions, including reductions of the value of contracts, contract modifications or terminations, forfeiture of profits, suspension of payments, repayments, fines or penalties being imposed upon us, suspension, proposed debarment, debarment from eligibility for future U.S. Government contracting, or suspension of export privileges. Reductions of the value of contracts, contract modifications or terminations, forfeiture of profits, suspension of payments, repayments, fines and penalties could have a material impact on financial condition and results of operations in any particular reporting period, and suspension or debarment could have a material adverse effect on us because of our dependence on contracts with the U.S. Government. U.S. Government investigations often take years to complete and many result in no adverse action against us. We also provide products and services to customers outside of the United States, which are subject to U.S. and foreign laws and regulations and foreign procurement policies and practices. Our compliance with local regulations or applicable U.S. Government regulations also may be audited or investigated. Additionally, in the normal course of business, 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 is generally based 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.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following (in millions): December 31, 2024 December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets Mutual funds $ 1,072 $ 1,072 $ — $ — $ 1,025 $ 1,025 $ — $ — U.S. Government securities 116 — 116 — 119 — 119 — Other securities 645 342 303 — 679 333 301 45 Derivatives 9 — 9 — 32 — 32 — Liabilities Derivatives 196 — 196 — 200 — 200 — Substantially all assets measured at fair value, other than derivatives, represent assets held in a trust to fund certain of our non-qualified deferred compensation plan and are recorded in other noncurrent assets on our consolidated balance sheets. As of both December 31, 2024 and 2023, the fair value of our assets held in the trust totaled $1.8 billion. Net gains on these securities were $170 million and $240 million in 2024 and 2023. Gains and losses on these investments are included in other unallocated, net within cost of sales on our consolidated statements of earnings in order to align the classification of changes in the market value of investments held for the plan with changes in the value of the corresponding plan liabilities. The fair values of mutual funds and certain other securities are determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. The fair values of U.S. Government and certain other securities are determined using pricing models that use observable inputs (e.g., interest rates and yield curves observable at commonly quoted intervals), bids provided by brokers or dealers or quoted prices of securities with similar characteristics. The fair values of derivative instruments, which consist of foreign currency forward contracts, including embedded derivatives, and interest rate swap contracts, are primarily determined based on the present value of future cash flows using model-derived valuations that use observable inputs such as interest rates, credit spreads and foreign currency exchange rates. We use derivative instruments principally to reduce our exposure to market risks from changes in foreign currency exchange rates and interest rates. We transact business globally and are subject to risks associated with changing foreign currency exchange rates. We do not enter into or hold derivative instruments for speculative trading purposes. These contracts hedge forecasted foreign currency transactions in order to minimize fluctuations in our earnings and cash flows associated with changes in foreign currency exchange rates. We designate foreign currency hedges as cash flow hedges. We enter into foreign currency hedges such as forward and option contracts that change in value as foreign currency exchange rates change. Our most significant foreign currency exposures relate to the British pound sterling, the euro, the Canadian dollar, the Australian dollar, the Norwegian kroner and the Polish zloty. We also are exposed to the impact of interest rate changes primarily through our borrowing activities. For fixed rate borrowings, we may use variable interest rate swaps, effectively converting fixed rate borrowings to variable rate borrowings in order to hedge changes in the fair value of the debt. These swaps are designated as fair value hedges. For variable rate borrowings, we may use fixed interest rate swaps, effectively converting variable rate borrowings to fixed rate borrowings in order to minimize the impact of interest rate changes on earnings. These swaps are designated as cash flow hedges. We also may enter into derivative instruments that are not designated as hedges and do not qualify for hedge accounting, which are intended to minimize certain economic exposures. The aggregate notional amount of our outstanding interest rate swaps was $1.3 billion at both December 31, 2024 and 2023. The aggregate notional amount of our outstanding foreign currency hedges at December 31, 2024 and 2023 was $7.5 billion and $6.5 billion. The fair values of our outstanding interest rate swaps and foreign currency hedges at December 31, 2024 and 2023 were not significant. Derivative instruments did not have a material impact on net earnings and comprehensive income during the years ended December 31, 2024 and 2023. The impact of derivative instruments on our consolidated statements of cash flows is included in net cash provided by operating activities. Substantially all of our derivatives are designated for hedge accounting. See “Note 1 – Organization and Significant Accounting Policies - Derivative financial instruments.” We also make investments in early-stage companies that we believe are advancing or developing new technologies applicable to our business. Investments that have quoted market prices in active markets (Level 1) are recorded at fair value and reflected in other securities while certain investments are categorized as Level 3 when valuations using observable inputs are unavailable. See “Note 1 – Organization and Significant Accounting Policies - Investments.” In addition to the financial instruments listed in the table above, we hold other financial instruments, including cash and cash equivalents, receivables, accounts payable and debt. The carrying amounts for cash and cash equivalents, receivables and accounts payable approximated their fair values. The estimated fair value of our outstanding debt was $20.2 billion and $18.5 billion at December 31, 2024 and 2023. The outstanding principal amount of debt, including short-term and long-term debt, was $21.6 billion and $18.7 billion at December 31, 2024 and 2023, excluding $1.3 billion of unamortized discounts and issuance costs at both December 31, 2024 and 2023. The estimated fair values of our outstanding debt were determined based on the present value of future cash flows using model-derived valuations that use observable inputs such as interest rates and credit spreads (Level 2).

Impairment and Severance Charge

Impairment and Severance Charges	12 Months Ended
Impairment and Severance Charges	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Impairment and Severance Charges	Impairment and Severance Charges During 2024, we recorded charges totaling $87 million ($69 million, or $0.29 per share, after-tax) for trademark and fixed asset impairments as well as severance costs resulting from the strategic review of our Sikorsky business during the second quarter of 2024 due, in part, to the impacts of the U.S. Army announcement to cancel the Future Attack Reconnaissance Aircraft (FARA) program at the conclusion of fiscal year 2024, for which our Sikorsky business was competing. During 2023, we recorded severance and other charges of $92 million ($73 million, or $0.30 per share, after-tax) associated with s everance costs for the planned reduction of certain positions across the corporation and asset impairment charges . Upon separation, terminated employees received lump-sum severance payments primarily based on years of service, the majority of which have been paid. This action resulted from a review of our business segments and corporate functions and is intended to improve the efficiency of our operations. During 2022, we recorded severance and other charges totaling $100 million ($79 million, or $0.31 per share, after-tax) related to actions at our RMS business segment, which include severance costs for reduction of positions and asset impairment charges. After a strategic review of RMS, these actions improved the efficiency of our operations and better aligned the organization and cost structure with changing economic conditions and changes in program lifecycles. We generally can recover a portion of severance costs through the pricing of our products and services to the U.S. Government and other customers in future periods, which will be included in our operating results.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net earnings	$ 5,336	$ 6,920	$ 5,732

Insider Trading Arrangements

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

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	We believe cybersecurity is critical to advancing our 21st Century Security vision and enabling our digital transformation efforts. As an aerospace and defense company, we face a multitude of cybersecurity threats that range from attacks common to most industries, such as ransomware and denial-of-service, to attacks from more advanced and persistent, highly organized adversaries, including nation state actors, some of which target the defense industrial base and other critical infrastructure sectors. Our customers, suppliers, subcontractors and joint venture partners face similar cybersecurity threats, and a cybersecurity incident impacting us or any of these entities could materially adversely affect our operations, performance and results of operations. These cybersecurity threats and related risks make it imperative that we strive to be a leader in the information security field, and we expend considerable resources on cybersecurity. Our corporate information security organization has implemented a governance structure and processes to assess, identify, manage and report cybersecurity risks. We also have a corporate-wide counterintelligence and insider threat detection program to proactively identify external and internal threats and mitigate those threats in a timely manner. As a defense contractor, we must comply with extensive regulations, including requirements imposed by the Defense Federal Acquisition Regulation Supplement (DFARS) related to adequately safeguarding controlled unclassified information (CUI) and reporting cybersecurity incidents to the DoD. We have implemented cybersecurity policies and frameworks based on industry and governmental standards to align closely with DoD requirements, instructions and guidance. Moreover, we continue to work with the DoD on assessing cybersecurity risk and on policies and practices aimed at mitigating these risks. For example, we have worked in collaboration with the other members of the defense industrial base to support DoD’s development of the Cybersecurity Maturity Model Certification (CMMC) program, DoD’s program to ensure members of the defense industrial base meet cybersecurity requirements for handling CUI and federal contract information. We believe we are well positioned to meet the requirements of the CMMC and are preparing for certification. In addition to following DoD guidance and implementing pre-existing third party frameworks, we have developed our own practices and frameworks, which we believe enhance our ability to identify and manage cybersecurity risks. For example, we use a proactive risk management strategy that we developed and implemented called the Intelligence Driven Defense ® model that seeks to identify and prevent cybersecurity incidents by understanding the nature of adversaries and using this information to minimize the impact of an attack. Third parties also play a role in our cybersecurity. We engage third-party services to conduct evaluations of our security controls, whether through penetration testing, independent audits or consulting on best practices to address new challenges. These evaluations include testing both the design and operational effectiveness of security controls. We also share and receive threat intelligence with our defense industrial base peers, government agencies, information sharing and analysis centers and cybersecurity associations. We rely heavily on our supply chain to deliver our products and services to our customers, and a cybersecurity incident at a supplier, subcontractor, joint venture partner, or service provider could materially adversely impact us. We assess third party cybersecurity controls through a cybersecurity questionnaire and include security and privacy addendums to our contracts where applicable. We also contractually flow cybersecurity regulatory requirements to our subcontractors as required by the DFARS and other government agency specific requirements. These contractual flow downs include the requirement that our subcontractors implement certain security controls, and that our subcontractors self-report the status of their implementation of these controls to the U.S. Government. These government contracting regulations may create challenges for our supply chain and increase costs. We also require that our subcontractors report cybersecurity incidents to us so that we can assess the impact of the incident on us. For select suppliers, we engage third-party cybersecurity monitoring and alerting services, and seek to work directly with those suppliers to address potential deficiencies identified. We also make available cybersecurity education and awareness materials and briefings to our suppliers.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Assessing, identifying and managing cybersecurity related risks are integrated into our overall enterprise risk management (ERM) process. Cybersecurity related risks are included in the risk universe that the ERM function evaluates to assess top risks to the enterprise on an annual basis. To the extent the ERM process identifies a heightened cybersecurity related risk, risk owners are assigned to develop risk mitigation plans, which are then tracked to completion.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board of Directors oversees management’s processes for identifying and mitigating risks, including cybersecurity risks, to help align our risk exposure with our strategic objectives. Senior leadership, including our Chief Information Security Officer (CISO), regularly briefs the Board of Directors on our cybersecurity and information security posture and the Board of Directors is apprised of cybersecurity incidents deemed to have a moderate or higher business impact, even if immaterial to us. The Classified Business and Security Committee of the Board of Directors is briefed by senior leadership, as appropriate, on the cybersecurity of classified programs and the security of our classified business supply chain. Other than oversight of classified business cybersecurity, the full Board retains oversight of cybersecurity because of its importance to Lockheed Martin and the heightened risk in the aerospace and defense industry. In the event of an incident, we intend to follow our detailed incident response playbook, which outlines the steps to be followed from incident detection to mitigation, recovery and notification, including notifying functional areas (e.g., legal), as well as senior leadership, the Board, and regulators, as appropriate.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our corporate information security organization, led by our CISO, is responsible for our overall information security strategy, policy, security engineering, operations and cyber threat detection and response.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Board of Directors oversees management’s processes for identifying and mitigating risks, including cybersecurity risks, to help align our risk exposure with our strategic objectives. Senior leadership, including our Chief Information Security Officer (CISO), regularly briefs the Board of Directors on our cybersecurity and information security posture and the Board of Directors is apprised of cybersecurity incidents deemed to have a moderate or higher business impact, even if immaterial to us. The Classified Business and Security Committee of the Board of Directors is briefed by senior leadership, as appropriate, on the cybersecurity of classified programs and the security of our classified business supply chain. Other than oversight of classified business cybersecurity, the full Board retains oversight of cybersecurity because of its importance to Lockheed Martin and the heightened risk in the aerospace and defense industry. In the event of an incident, we intend to follow our detailed incident response playbook, which outlines the steps to be followed from incident detection to mitigation, recovery and notification, including notifying functional areas (e.g., legal), as well as senior leadership, the Board, and regulators, as appropriate. Our corporate information security organization, led by our CISO, is responsible for our overall information security strategy, policy, security engineering, operations and cyber threat detection and response. The current CISO has extensive information technology and program management experience, and has served many years in our corporate information security organization. The corporate information security organization manages and continually enhances a robust enterprise security structure with the ultimate goal of preventing cybersecurity incidents to the extent feasible, while simultaneously increasing our system resilience in an effort to minimize the business impact should an incident occur. Central to this organization is our computer incident response team (CIRT), which is responsible for the protection, detection and response capabilities used in the defense of Lockheed Martin’s data and enterprise computing networks. Employees outside of our corporate information security organization also have a role in our cybersecurity defenses and they are immersed in a corporate culture supportive of security, which we believe improves our cybersecurity. Assessing, identifying and managing cybersecurity related risks are integrated into our overall enterprise risk management (ERM) process. Cybersecurity related risks are included in the risk universe that the ERM function evaluates to assess top risks to the enterprise on an annual basis. To the extent the ERM process identifies a heightened cybersecurity related risk, risk owners are assigned to develop risk mitigation plans, which are then tracked to completion. The ERM process’s annual risk assessment and relevant mitigations are presented to the Board of Directors.
Cybersecurity Risk Role of Management [Text Block]	Senior leadership, including our Chief Information Security Officer (CISO), regularly briefs the Board of Directors on our cybersecurity and information security posture and the Board of Directors is apprised of cybersecurity incidents deemed to have a moderate or higher business impact, even if immaterial to us. The Classified Business and Security Committee of the Board of Directors is briefed by senior leadership, as appropriate, on the cybersecurity of classified programs and the security of our classified business supply chain. Other than oversight of classified business cybersecurity, the full Board retains oversight of cybersecurity because of its importance to Lockheed Martin and the heightened risk in the aerospace and defense industry. In the event of an incident, we intend to follow our detailed incident response playbook, which outlines the steps to be followed from incident detection to mitigation, recovery and notification, including notifying functional areas (e.g., legal), as well as senior leadership, the Board, and regulators, as appropriate. Our corporate information security organization, led by our CISO, is responsible for our overall information security strategy, policy, security engineering, operations and cyber threat detection and response. The current CISO has extensive information technology and program management experience, and has served many years in our corporate information security organization. The corporate information security organization manages and continually enhances a robust enterprise security structure with the ultimate goal of preventing cybersecurity incidents to the extent feasible, while simultaneously increasing our system resilience in an effort to minimize the business impact should an incident occur. Central to this organization is our computer incident response team (CIRT), which is responsible for the protection, detection and response capabilities used in the defense of Lockheed Martin’s data and enterprise computing networks. Employees outside of our corporate information security organization also have a role in our cybersecurity defenses and they are immersed in a corporate culture supportive of security, which we believe improves our cybersecurity. Assessing, identifying and managing cybersecurity related risks are integrated into our overall enterprise risk management (ERM) process. Cybersecurity related risks are included in the risk universe that the ERM function evaluates to assess top risks to the enterprise on an annual basis. To the extent the ERM process identifies a heightened cybersecurity related risk, risk owners are assigned to develop risk mitigation plans, which are then tracked to completion. The ERM process’s annual risk assessment and relevant mitigations are presented to the Board of Directors.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our corporate information security organization, led by our CISO, is responsible for our overall information security strategy, policy, security engineering, operations and cyber threat detection and response.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The current CISO has extensive information technology and program management experience, and has served many years in our corporate information security organization.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	In the event of an incident, we intend to follow our detailed incident response playbook, which outlines the steps to be followed from incident detection to mitigation, recovery and notification, including notifying functional areas (e.g., legal), as well as senior leadership, the Board, and regulators, as appropriate. Our corporate information security organization, led by our CISO, is responsible for our overall information security strategy, policy, security engineering, operations and cyber threat detection and response. The current CISO has extensive information technology and program management experience, and has served many years in our corporate information security organization. The corporate information security organization manages and continually enhances a robust enterprise security structure with the ultimate goal of preventing cybersecurity incidents to the extent feasible, while simultaneously increasing our system resilience in an effort to minimize the business impact should an incident occur. Central to this organization is our computer incident response team (CIRT), which is responsible for the protection, detection and response capabilities used in the defense of Lockheed Martin’s data and enterprise computing networks. Employees outside of our corporate information security organization also have a role in our cybersecurity defenses and they are immersed in a corporate culture supportive of security, which we believe improves our cybersecurity. Assessing, identifying and managing cybersecurity related risks are integrated into our overall enterprise risk management (ERM) process. Cybersecurity related risks are included in the risk universe that the ERM function evaluates to assess top risks to the enterprise on an annual basis. To the extent the ERM process identifies a heightened cybersecurity related risk, risk owners are assigned to develop risk mitigation plans, which are then tracked to completion. The ERM process’s annual risk assessment and relevant mitigations are presented to the Board of Directors.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Organization and Significant _2

Organization and Significant Accounting Policies (Policies)	12 Months Ended
Organization and Significant Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Organization	Organization – We are a global aerospace and defense company principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. We also provide a broad range of management, engineering, technical, scientific, logistics, system integration and cybersecurity services. We serve both U.S. and international customers with products and services that have defense, civil and commercial applications, with our principal customers being agencies of the U.S. Government. As described in “Note 3 – Information on Business Segments”, we operate in four business segments: Aeronautics, MFC, RMS and Space.
Basis of presentation	Basis of presentation – These consolidated financial statements include the accounts of subsidiaries we control and variable interest entities if we are the primary beneficiary. We eliminate intercompany balances and transactions in consolidation. We classify certain assets and liabilities as current utilizing the duration of the related contract or program as our operating cycle, which is generally longer than one year. This primarily impacts receivables, contract assets, inventories, and contract liabilities. We classify all other assets and liabilities based on whether the asset will be realized or the liability will be paid within one year. Additionally, certain prior year amounts in the consolidated statements of cash flows have been reclassified within operating activities to conform to the current year’s presentation. These reclassifications were not material and had no impact on total net cash provided by operating activities as previously reported.
Use of estimates	Use of estimates – We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). In doing so, we are required to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base these estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Our actual results may differ materially from these estimates. Significant estimates inherent in the preparation of our consolidated financial statements include, but are not limited to, accounting for sales and cost recognition; postretirement benefit plans; environmental liabilities and assets for the portion of environmental costs that are probable of future recovery; evaluation of goodwill, intangible assets, investments and other assets for impairment; income taxes including deferred income taxes; fair value measurements; and contingencies.
Revenue Recognition, Contract assets and Contract liabilities	Revenue Recognition – The majority of our net sales are generated from long-term contracts with the U.S. Government and international customers (including foreign military sales (FMS) contracted through the U.S. Government) for the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. For certain contracts that meet the foregoing requirements, primarily international direct commercial sale contracts, we are required to obtain certain regulatory approvals. In these cases, we recognize revenue when it is probable that we will receive regulatory approvals based upon all known facts and circumstances. We provide our products and services under fixed-price and cost-reimbursable contracts. Under fixed-price contracts, we agree to perform the specified work for a pre-determined price. To the extent our actual costs vary from the estimates upon which the price was negotiated, we will generate more or less profit or could incur a loss. Some fixed-price contracts have a performance-based component under which we may earn incentive payments or incur financial penalties based on our performance. Cost-reimbursable contracts provide for the payment of allowable costs incurred during performance of the contract plus a fee up to a ceiling based on the amount that has been funded. Typically, we enter into three types of cost-reimbursable contracts: cost-plus-award-fee, cost-plus-incentive-fee, and cost-plus-fixed-fee. Cost-plus-award-fee contracts provide for an award fee that varies within specified limits based on the customer’s assessment of our performance against a predetermined set of criteria, such as targets based on cost, quality, technical and schedule criteria. Cost-plus-incentive-fee contracts provide for reimbursement of costs plus a fee, which is adjusted by a formula based on the relationship of total allowable costs to total target costs (i.e., incentive based on cost) or reimbursement of costs plus an incentive to exceed stated performance targets (i.e., incentive based on performance). Cost-plus-fixed-fee contracts provide a fixed fee that is negotiated at the inception of the contract and does not vary with actual costs. We assess each contract at its inception to determine whether it should be combined with other contracts. When making this determination, we consider factors such as whether two or more contracts were negotiated and executed at or near the same time or were negotiated with an overall profit objective. If combined, we treat the combined contracts as a single contract for revenue recognition purposes. We evaluate the products or services promised in each contract at inception to determine whether the contract should be accounted for as having one or more performance obligations. The products and services in our contracts are typically not distinct from one another due to their complex relationships and the significant contract management functions required to perform under the contract. Accordingly, our contracts are typically accounted for as one performance obligation. In limited cases, our contracts have more than one distinct performance obligation, which occurs when we perform activities that are not highly complex or interrelated or involve different product lifecycles. Significant judgment is required in determining performance obligations, and these decisions could change the amount of revenue and profit recorded in a given period. We classify net sales as products or services on our consolidated statements of earnings based on the predominant attributes of the performance obligations. We determine the transaction price for each contract based on the consideration we expect to receive for the products or services being provided under the contract. For contracts where a portion of the price may vary (e.g., awards, incentive fees and claims), we estimate variable consideration at the most likely amount, which is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur. We analyze the risk of a significant revenue reversal and if necessary constrain the amount of variable consideration recognized in order to mitigate this risk. At the inception of a contract, we estimate the transaction price based on our current rights and do not contemplate future modifications (including unexercised options) or follow-on contracts until they become legally enforceable. Contracts are often subsequently modified to include changes in specifications, requirements or price, which may create new or change existing enforceable rights and obligations. Depending on the nature of the modification, we consider whether to account for the modification as an adjustment to the existing contract or as a separate contract. Generally, modifications to our contracts are not distinct from the existing contract due to the significant integration and interrelated tasks provided in the context of the contract. Therefore, such modifications are accounted for as if they were part of the existing contract and recognized as a cumulative adjustment to revenue. For contracts with multiple performance obligations, we allocate the transaction price to each performance obligation based on the estimated standalone selling price of the product or service underlying each performance obligation. The standalone selling price represents the amount we would sell the product or service to a customer on a standalone basis (i.e., not bundled with any other products or services). Our contracts with the U.S. Government, including FMS contracts, are subject to the FAR and the price is typically based on estimated or actual costs plus a reasonable profit margin. As a result of these regulations, the standalone selling price of products or services in our contracts with the U.S. Government and FMS contracts are typically equal to the selling price stated in the contract. For non-U.S. government contracts with multiple performance obligations, we evaluate whether the stated selling prices for the products or services represent their standalone selling prices. We primarily sell customized solutions unique to a customer’s specifications. When it is necessary to allocate the transaction price to multiple performance obligations, we typically use the expected cost plus a reasonable profit margin to estimate the standalone selling price of each product or service. We occasionally sell standard products or services with observable standalone sales transactions. In these situations, the observable standalone sales transactions are used to determine the standalone selling price. We recognize revenue as performance obligations are satisfied and the customer obtains control of the products and services. In determining when performance obligations are satisfied, we consider factors such as contract terms, payment terms and whether there is an alternative future use of the product or service. Substantially all of our revenue is recognized over time as we perform under the contract because control of the work in process transfers continuously to the customer. For most contracts with the U.S. Government and FMS contracts, this continuous transfer of control of the work in process to the customer is supported by clauses in the contract that give the customer ownership of work in process and allow the customer to unilaterally terminate the contract for convenience and pay us for costs incurred plus a reasonable profit. For most non-U.S. government contracts, primarily international direct commercial contracts, continuous transfer of control to our customer is supported because we deliver products that do not have an alternative use to us and if our customer were to terminate the contract for reasons other than our non-performance we would have the right to recover damages which would include, among other potential damages, the right to payment for our work performed to date plus a reasonable profit. For performance obligations to deliver products with continuous transfer of control to the customer, revenue is recognized based on the extent of progress towards completion of the performance obligation, generally using the percentage-of-completion cost-to-cost measure of progress for our contracts because it best depicts the transfer of control to the customer as we incur costs on our contracts. Under the percentage-of-completion cost-to-cost measure of progress, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs to complete the performance obligation(s). For performance obligations to provide services to the customer, revenue is recognized over time based on costs incurred or the right to invoice method (in situations where the value transferred matches our billing rights) as our customer receives and consumes the benefits. For performance obligations in which control does not continuously transfer to the customer, we recognize revenue at the point in time in which each performance obligation is fully satisfied. This coincides with the point in time the customer obtains control of the product or service, which typically occurs upon customer acceptance or receipt of the product or service, given that we maintain control of the product or service until that point. For arrangements with the U.S. Government and FMS contracts, we generally do not begin work on contracts until funding is appropriated by the customer. Billing timetables and payment terms on our contracts vary based on a number of factors, including the contract type. Typical payment terms under fixed-price contracts with the U.S. Government provide that the customer pays either performance-based payments (PBPs) based on the achievement of contract milestones or progress payments based on a percentage of costs we incur. Typical payment terms under cost-reimbursable contracts with the U.S Government provide for billing of allowable costs incurred plus applicable fee on a monthly or semi-monthly basis. For the majority of our international direct commercial contracts to deliver complex systems, we typically receive advance payments prior to commencement of work, as well as milestone payments that are paid in accordance with the terms of our contract as we perform. We recognize a liability for payments in excess of revenue recognized, which is presented as a contract liability on the balance sheet. The portion of payments retained by the customer until final contract settlement is not considered a significant financing component because the intent is to protect the customer from our failure to adequately complete some or all of the obligations under the contract. Payments received from customers in advance of revenue recognition are not considered to be significant financing components because they are used to meet working capital demands that can be higher in the early stages of a contract. For fixed-price and cost-reimbursable contracts, we present revenues recognized in excess of billings as contract assets on the balance sheet. Amounts billed and due from our customers under both contract types are classified as receivables on the balance sheet. Significant estimates and assumptions are made in estimating contract sales, costs, and profit. We estimate profit as the difference between estimated revenues and total estimated costs to complete the contract. At the outset of a long-term contract, we identify and monitor risks to the achievement of the technical, schedule and cost aspects of the contract, as well as our ability to earn variable consideration, and assess the effects of those risks on our estimates of sales and total costs to complete the contract. The estimates consider the technical requirements (e.g., a newly developed product versus a mature product), the schedule and associated tasks (e.g., the number and type of milestone events) and costs (e.g., material, labor, subcontractor, overhead, general and administrative and the estimated costs to fulfill our industrial cooperation agreements, sometimes referred to as offset or localization agreements, required under certain contracts with international customers). The initial profit booking rate of each contract considers risks surrounding the ability to achieve the technical requirements, schedule and costs in the initial estimated total costs to complete the contract. Profit booking rates may increase during the performance of the contract if we successfully retire risks related to technical, schedule and cost aspects of the contract, which decreases the estimated total costs to complete the contract or may increase the variable consideration we expect to receive on the contract. Conversely, our profit booking rates may decrease if the estimated total costs to complete the contract increase or our estimates of variable consideration we expect to receive decrease. All of the estimates are subject to change during the performance of the contract and may affect the profit booking rate. When estimates of total costs to be incurred on a contract exceed total estimates of the transaction price, a provision for the entire loss is determined at the contract level and is recorded in the period in which the loss is evident, which we refer to as a reach-forward loss. Comparability of our segment sales, operating profit and operating margin may be impacted favorably or unfavorably by changes in profit booking rates on our contracts. Increases in the profit booking rates, typically referred to as favorable profit booking rate adjustments, usually relate to revisions in the estimated total costs to fulfill the performance obligations that reflect improved conditions on a particular contract. Conversely, conditions on a particular contract may deteriorate, resulting in an increase in the estimated total costs to fulfill the performance obligations and a reduction in the profit booking rate and are typically referred to as unfavorable profit booking rate adjustments. Increases or decreases in profit booking rates are recognized in the period they are determined and reflect the inception-to-date effect of such changes. Segment operating profit and margin can be impacted favorably or unfavorably by, for example, certain items listed below, which may or may not impact sales. Favorable items include the positive resolution of contractual matters, cost recoveries on severance and restructuring, insurance recoveries and gains on sales of assets. Unfavorable items include the adverse resolution of contractual matters, supply chain disruptions, restructuring charges (except for significant severance actions, which are excluded from segment operating results), reserves for disputes, certain asset impairments, and losses on sales of certain assets. Our consolidated net profit booking rate adjustments increased net sales by $1.2 billion in 2024, $1.6 billion in 2023, and $2.0 billion in 2022. These adjustments decreased segment operating profit by approximately $180 million ($142 million, or $0.59 per share, after-tax) in 2024 and increased segment operating profit by approximately $1.6 billion ($1.3 billion, or $4.98 per share, after-tax) in 2023 and $1.8 billion ($1.4 billion, or $5.40 per share, after-tax) in 2022. Consolidated net profit booking rate adjustments during the year ended December 31, 2024 include losses of $555 million on a classified program at our Aeronautics business segment, reach-forward losses of $1.4 billion recognized on a classified program at our MFC business segment described below and $155 million of favorable profit rate adjustments following the resolution of a long-standing claim associated with a completed C-5 Galaxy aircraft contract at our Aeronautics business segment. Consolidated net profit booking rate adjustments during the year ended December 31, 2023 include a favorable profit adjustment of $65 million on an international surveillance and control program due to the positive resolution of a contractual matter at our RMS business segment, and a reach-forward loss of $100 million on the Canadian Maritime Helicopter Program (CMHP) as a result of increased costs and lower than planned revenues at our RMS business segment described below. We have various development programs for new and upgraded products, services, and related technologies which have complex design and technical challenges. This development work is inherently uncertain and subject to significant variability in estimates of the cost and time required to complete the work by us and our suppliers. Many of these programs have cost-type contracting arrangements (e.g., cost-reimbursable or cost-plus-fee). In such cases, the associated financial risks are primarily in reduced fees, lower profit rates, or program cancellation if cost, schedule, or technical performance issues arise. However, some of our existing development programs are contracted on a fixed-price basis or include cost-type contracting for the development phase with fixed-price production options and our customers continue to implement procurement strategies such as these that shift risk to contractors. Competitively bid programs with fixed-price development work or fixed-price production options increase the risk of a reach-forward loss upon contract award and during the period of contract performance. Due to the complex and often experimental nature of development programs, we may experience (and have experienced in the past) technical and quality issues during the development of new products or technologies for a variety of reasons. Our development programs are ongoing, and while we believe the cost and fee estimates incorporated in the financial statements are appropriate, the technical complexity of these programs and fixed-price contract structure creates financial risk as estimated completion costs may exceed the current contract value, which could trigger earnings charges, termination provisions, or other financially significant exposures. These programs have risk for reach-forward losses if our estimated costs exceed our estimated contract revenues, and such losses could be significant to our financial condition and operating results in any period that they are recognized. Any such losses are recognized in the period in which the loss is evident. Contract assets – Contract assets include unbilled amounts typically resulting from sales under contracts when the percentage-of-completion cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer. Contract assets are recorded at the net amount expected to be billed and collected. Contract assets are classified as current based on our contract operating cycle and include amounts that may be billed and collected beyond one year due to the long-cycle nature of our contracts. Contract liabilities – Contract liabilities include advance payments and billings in excess of revenue recognized. Contract liabilities are classified as current based on our contract operating cycle and reported on a contract-by-contract basis, net of revenue recognized, at the end of each reporting period.
Research and development and similar costs	Research and development and similar costs – We conduct research and development (R&D) activities using our own funds (referred to as company-funded or independent R&D (IR&D)) and under contractual arrangements with our customers
Stock-based compensation	Stock-based compensation – We issue stock-based compensation awards in the form of restricted stock units (RSUs) and performance stock units (PSUs) that generally vest three years from the grant date and are settled in shares. Compensation cost related to all stock-based awards is measured at the grant date based on the estimated fair value of the award. The grant date fair value of RSUs is equal to the closing market price of our common stock on the grant date less a discount to reflect the delay in payment of dividend-equivalent cash payments that are made only upon vesting. The grant date fair value of PSUs is measured in a manner similar to RSUs for awards that vest based on service and performance conditions or using a Monte Carlo model for awards that vest based on service and market conditions. For all RSUs, we recognize the grant date fair value, less estimated forfeitures, as compensation expense ratably over the requisite service period, which is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period. For PSUs that vest based on service and performance conditions, we recognize the grant date fair value, less estimated forfeitures, as compensation expense ratably over the vesting period based on the number of awards expected to ultimately vest. For PSUs that vest based on service and market conditions, we recognize the grant date fair value, less estimated forfeitures, as compensation expense ratably over the vesting period. At each reporting date, estimated forfeitures for all stock-based compensation awards and the number of PSUs expected to vest based on service and performance conditions is adjusted.
Income taxes	Income taxes – We calculate our provision for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized based on the future tax consequences attributable to temporary differences that exist between the financial statement carrying amount of assets and liabilities and their respective tax bases, as well as from operating loss and tax credit carry-forwards. The provision for income taxes differs from the amounts currently receivable or payable because certain items of income and expense are recognized in different periods for financial reporting purposes than for income tax purposes. We measure deferred tax assets and liabilities using enacted tax rates that will apply in the years in which we expect the temporary differences to be recovered or paid. We periodically assess our tax exposures related to periods that are open to examination. Based on the latest available information, we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the Internal Revenue Service (IRS) or other taxing authorities. If we cannot reach a more-likely-than-not determination, no benefit is recorded. If we determine that the tax position is more likely than not to be sustained, we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled. We record interest and penalties related to income taxes as a component of income tax expense on our consolidated statements of earnings. In accordance with the regulations that govern cost accounting requirements for government contracts, current state and local income and franchise taxes are generally considered allowable and allocable costs and, consistent with industry practice, are recorded in operating costs and expenses. We generally recognize changes in deferred state taxes and unrecognized state tax benefits in unallocated corporate expenses.
Cash and cash equivalents	Cash and cash equivalents – Cash equivalents include highly liquid instruments with original maturities of 90 days or less.
Receivables	Receivables
Inventories	Inventories – We record inventories at the lower of cost or estimated net realizable value. The majority of our inventory represents work-in-process for contracts where control has not yet passed to the customer. Work-in-process primarily consists of labor, material, subcontractor, and overhead costs. In addition, costs incurred to fulfill a contract in advance of the contract being awarded are recorded in inventories as work-in-process if we determine that those costs relate directly to a contract or to an anticipated contract that we can specifically identify and contract award is probable, the costs generate or enhance resources that will be used in satisfying performance obligations, and the costs are recoverable (referred to as pre-contract costs). Pre-contract costs that are initially capitalized in inventory are generally recognized as cost of sales consistent with the transfer of products and services to the customer upon the receipt of the anticipated contract. All other pre-contract costs, including start-up costs, are expensed as incurred. We determine the costs of other inventories such as materials, spares and supplies by using the first-in first-out or average cost methods. If events or changes in circumstances indicate that pre-contract costs are no longer recoverable or the utility of our inventories have diminished through damage, deterioration, obsolescence, changes in price or other causes, a loss is recognized in the period in which it occurs.
Property, plant and equipment	Property, plant and equipment – Property, plant and equipment are initially recorded at cost. The cost of plant and equipment are depreciated generally using accelerated methods during the first half of the estimated useful lives of the assets and the straight-line method thereafter. The estimated useful lives of our plant and equipment generally range from 10 to 40 years for buildings and five We review the carrying amounts of long-lived assets for impairment if events or changes in the facts and circumstances indicate that their carrying amounts may not be recoverable. We assess impairment by comparing the estimated undiscounted future cash flows of the related asset grouping to its carrying amount. If an asset is determined to be impaired, we recognize an impairment charge in the current period for the difference between the fair value of the asset and its carrying amount.
Capitalized software	Capitalized software two
Investments	Investments – We hold a portfolio of marketable securities to fund our non-qualified employee benefit plans. A portion of these securities are held in common/collective trust funds and are measured at fair value using Net Asset Value (NAV) per share as a practical expedient. Marketable securities accounted for as trading are recorded at fair value on a recurring basis and are included in other noncurrent asset s on our consolidated balance sheets. Gains and losses on these investments are included in other unallocated, net within cost of sales on our consolidated statements of earnings. We make investments in companies that we believe are advancing or developing new technologies applicable to our business. These investments are primarily in early-stage companies and may be in the form of common or preferred stock, warrants, convertible debt
Equity method investments	Equity method investments
Goodwill and Intangible Assets	Goodwill and Intangible Assets – We perform an impairment test of our goodwill at least annually in the fourth quarter or more frequently whenever events or changes in circumstances indicate the carrying value of goodwill may be impaired. We may use both a qualitative and quantitative approaches when testing goodwill for impairment. For selected reporting units where we use the qualitative approach, we perform a qualitative evaluation of events and circumstances impacting the reporting unit to determine the likelihood of goodwill impairment. Based on that qualitative evaluation, if we determine it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, no further evaluation is necessary. Otherwise, we perform a quantitative impairment test. We perform quantitative tests for most reporting units at least once every three years. However, for certain reporting units we may perform a quantitative impairment test every year. To perform the quantitative impairment test we compare the fair value of a reporting unit to its carrying value, including goodwill. If the fair value of a reporting unit exceeds its carrying value, goodwill of the reporting unit is not impaired. If the carrying value of the reporting unit, including goodwill, exceeds its fair value, a goodwill impairment loss is recognized in an amount equal to that excess. We generally estimate the fair value of each reporting unit using a combination of a discounted cash flow (DCF) analysis and market-based valuation methodologies such as comparable public company trading values and values observed in recent business acquisitions. three
Acquired intangible assets	Acquired intangible assets deemed to have indefinite lives are not amortized, but are subject to annual impairment testing or more frequently if events or change in circumstance indicate that it is more likely than not that the asset is impaired. We perform an impairment test of finite-lived intangibles whenever events or changes in circumstances indicate their carrying value may be impaired.
Leases	Leases – We evaluate whether our contractual arrangements contain leases at the inception of such arrangements. Specifically, we consider whether we can control the underlying asset and have the right to obtain substantially all of the economic benefits or outputs from the asset. Substantially all of our leases are long-term operating leases with fixed payment terms. We do not have significant financing leases. Our right-of-use (ROU) operating lease assets represent our right to use an underlying asset for the lease term, and our operating lease liabilities represent our obligation to make lease payments. ROU operating lease assets are recorded in other noncurrent assets other current liabilities other noncurrent liabilities Both the ROU operating lease asset and liability are recognized as of the lease commencement date at the present value of the lease payments over the lease term. Most of our leases do not provide an implicit rate that can readily be determined. Therefore, we use a discount rate based on our incremental borrowing rate, which is determined using our credit rating and information available as of the commencement date. ROU operating lease assets include lease payments made at or before the lease commencement date, net of any lease incentives. Our operating lease agreements may include options to extend the lease term or terminate it early. We include options to extend or terminate leases in the ROU operating lease asset and liability when it is reasonably certain we will exercise these options. Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales on our consolidated statement of earnings. We have operating lease arrangements with lease and non-lease components. The non-lease components in our arrangements are not significant when compared to the lease components. For all operating leases, we account for the lease and non-lease components as a single component. Additionally, for certain equipment leases, we apply a portfolio approach to recognize operating lease ROU assets and liabilities. We evaluate ROU assets for impairment consistent with our property, plant and equipment policy.
Postretirement benefit plans and Postemployment plans	Postretirement benefit plans – Many of our employees and retirees participate in defined benefit pension plans, retiree medical and life insurance plans, and other postemployment plans (collectively, postretirement benefit plans). Obligation amounts we record related to our postretirement benefit plans are computed based on service to date, using actuarial valuations that are based in part on certain key economic assumptions we make, including the discount rate, the expected long-term rate of return on plan assets and other actuarial assumptions including participant longevity (also known as mortality) and health care cost trend rates, each as appropriate based on the nature of the plans. A market-related value of our plan assets, determined using actual asset gains or losses over the prior three year period, is used to calculate the amount of deferred asset gains or losses to be amortized. These asset gains or losses, along with those resulting from adjustments to our benefit obligation, will be amortized to expense using the corridor method, where gains and losses are recognized over a period of years to the extent they exceed 10% of the greater of plan assets or benefit obligations. We recognize on a plan-by-plan basis the funded status of our postretirement benefit plans as either an asset recorded within other noncurrent assets or a liability recorded within noncurrent liabilities on our consolidated balance sheets. The GAAP funded status is measured as the difference between the fair value of the plan’s assets and the benefit obligation of the plan. The funded status under the Employee Retirement Income Security Act of 1974 (ERISA), as amended, is calculated on a different basis than under GAAP. Postemployment plans – We record a liability for postemployment benefits, such as severance or job training, typically when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated.
Environmental matters	Environmental matters – We record a liability for environmental matters when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of liability recorded is based on our estimate of the costs to be incurred for remediation at a particular site. We do not discount the recorded liabilities, as the amount and timing of future cash payments are not fixed or cannot be reliably determined. Our environmental liabilities are recorded on our consolidated balance sheets within other liabilities, both current and noncurrent. We expect to include a substantial portion of environmental costs in our net sales and cost of sales in future periods pursuant to U.S. Government regulation. At the time a liability is recorded for future environmental costs, we record assets for estimated future recovery considered probable through the pricing of products and services to agencies of the U.S. Government, regardless of the contract form (e.g., cost-reimbursable, fixed-price). We continually evaluate the recoverability of our assets for the portion of environmental costs that are probable of future recovery by assessing, among other factors, U.S. Government regulations, our U.S. Government business base and contract mix, our history of receiving reimbursement of such costs, and efforts by some U.S. Government representatives to limit such reimbursement. We include the portions of those environmental costs expected to be allocated to our non-U.S. government contracts, or determined not to be recoverable under U.S. Government contracts, in our cost of sales at the time the liability is established or adjusted. Our assets for the portion of environmental costs that are probable of future recovery are recorded on our consolidated balance sheets within other assets, both current and noncurrent. We project costs and recovery of costs over approximately 20 years.
Derivative financial instruments	Derivative financial instruments – Derivatives are recorded at their fair value and included in other current and noncurrent assets liabilities
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires an entity to disclose the amounts of purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption. It also requires an entity to include certain amounts that are already required to be disclosed under current GAAP in the same disclosure. Additionally, it requires an entity to disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, and to disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. An entity may apply the amendments prospectively for reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. While this ASU will impact only our disclosures and not our financial condition and results of operations, we are currently evaluating when we will adopt the ASU. In March 2024, the SEC issued a final rule under SEC Release Nos. 33-11275 and 34-99678, The Enhancement and Standardization of Climate-Related Disclosures for Investors, that would require us to provide climate-related disclosures in our annual reports and registration statements beginning with our annual report for the year ending December 31, 2025. The rule would require disclosure of material climate-related risks, our governance and risk management of climate-related risks and any material climate-related targets or goals, greenhouse gas emissions as well as disclosure of the financial statement effects, such as costs and losses resulting from severe weather events and other natural conditions. In April 2024, the SEC released an order staying this final rule pending judicial review of all the petitions challenging the rule. We are in the process of analyzing the impact of the rule and related litigation on our disclosures. In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker (CODM). The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. We adopted the new standard effective December 31, 2024. As a result, we have enhanced our segment disclosures to include the presentation of cost of sales by segment and the disclosure of our CODMs. The adoption of this ASU affects only our disclosures, with no impacts to our financial condition and results of operations. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. ASU No. 2023-09 requires a public business entity (PBE) to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. For PBEs, the new standard is effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity may apply the amendments in this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods, or may apply the amendments retrospectively by providing the revised disclosures for all periods presented. We will adopt this ASU prospectively for the period ending December 31, 2025, and it will impact only our disclosures with no impacts to our financial condition and results of operations.
Earnings per share computation	We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented. Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units (RSUs) and performance stock units (PSUs) based on the treasury stock method.
Acquired finite lived intangible assets	Acquired finite-lived intangible assets are amortized to expense primarily on a straight-line basis over their estimated useful lives.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Weighted Average Shares Outstanding Used to Compute Earnings Per Common Share	The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions): 2024 2023 2022 Weighted average common shares outstanding for basic computations 238.3 250.3 263.7 Weighted average dilutive effect of equity awards 0.9 0.9 0.9 Weighted average common shares outstanding for diluted computations 239.2 251.2 264.6

Information on Business Segme_2

Information on Business Segments (Tables)	12 Months Ended
Information on Business Segments (Tables)	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule Of Financial Information For Each Business Segment	Sales, cost of sales and operating profit for each of our business segments were as follows (in millions): 2024 2023 2022 Net sales Aeronautics $ 28,618 $ 27,474 $ 26,987 Missiles and Fire Control 12,682 11,253 11,317 Rotary and Mission Systems 17,264 16,239 16,148 Space 12,479 12,605 11,532 Total net sales $ 71,043 $ 67,571 $ 65,984 Cost of sales Aeronautics $ 26,093 $ 24,649 $ 24,110 Missiles and Fire Control 12,277 9,712 9,676 Rotary and Mission Systems 15,391 14,399 14,258 Space 11,308 11,473 10,565 Total cost of sales $ 65,069 $ 60,233 $ 58,609 Operating profit Aeronautics $ 2,523 $ 2,825 $ 2,867 Missiles and Fire Control 413 1,541 1,637 Rotary and Mission Systems 1,921 1,865 1,906 Space 1,226 1,158 1,057 Total business segment operating profit 6,083 7,389 7,467 Unallocated items FAS/CAS pension operating adjustment 1,624 1,660 1,709 Intangible asset amortization expense (247) (247) (248) Impairment and severance charges (a) (87) (92) (100) Other, net (360) (203) (480) Total unallocated, net 930 1,118 881 Total consolidated operating profit $ 7,013 $ 8,507 $ 8,348 (a) See “ Note 16 – Impairment and Severance Charges ” included in our Notes to Consolidated Financial Statements for additional information. Sales between our business segments are excluded from our consolidated and segment operating results as these activities are eliminated in consolidation. Intersegment sales for each of our business segments were as follows (in millions): 2024 2023 2022 Intersegment sales Aeronautics $ 377 $ 303 $ 249 Missiles and Fire Control 804 688 627 Rotary and Mission Systems 2,320 2,125 1,930 Space 392 358 381 Total intersegment sales $ 3,893 $ 3,474 $ 3,187 Net sales by products and services, contract type, customer category and geographic region for each of our business segments were as follows (in millions): 2024 Aeronautics MFC RMS Space Total Net sales Products $ 23,598 $ 11,275 $ 14,005 $ 10,399 $ 59,277 Services 5,020 1,407 3,259 2,080 11,766 Total net sales $ 28,618 $ 12,682 $ 17,264 $ 12,479 $ 71,043 Net sales by contract type Fixed-price $ 19,603 $ 8,774 $ 10,870 $ 3,481 $ 42,728 Cost-reimbursable 9,015 3,908 6,394 8,998 28,315 Total net sales $ 28,618 $ 12,682 $ 17,264 $ 12,479 $ 71,043 Net sales by customer U.S. Government $ 19,314 $ 9,043 $ 11,469 $ 12,218 $ 52,044 International (a) 9,182 3,629 5,463 241 18,515 U.S. commercial and other 122 10 332 20 484 Total net sales $ 28,618 $ 12,682 $ 17,264 $ 12,479 $ 71,043 Net sales by geographic region United States $ 19,436 $ 9,053 $ 11,801 $ 12,238 $ 52,528 Europe 5,071 1,327 1,243 75 7,716 Asia Pacific 2,763 763 2,556 159 6,241 Middle East 808 1,473 787 7 3,075 Other 540 66 877 — 1,483 Total net sales $ 28,618 $ 12,682 $ 17,264 $ 12,479 $ 71,043 2023 Aeronautics MFC RMS Space Total Net sales Products $ 22,758 $ 9,919 $ 12,913 $ 10,675 $ 56,265 Services 4,716 1,334 3,326 1,930 11,306 Total net sales $ 27,474 $ 11,253 $ 16,239 $ 12,605 $ 67,571 Net sales by contract type Fixed-price $ 18,664 $ 7,661 $ 10,403 $ 3,276 $ 40,004 Cost-reimbursable 8,810 3,592 5,836 9,329 27,567 Total net sales $ 27,474 $ 11,253 $ 16,239 $ 12,605 $ 67,571 Net sales by customer U.S. Government $ 18,311 $ 7,769 $ 10,961 $ 12,382 $ 49,423 International (a) 9,034 3,473 4,983 154 17,644 U.S. commercial and other 129 11 295 69 504 Total net sales $ 27,474 $ 11,253 $ 16,239 $ 12,605 $ 67,571 Net sales by geographic region United States $ 18,440 $ 7,780 $ 11,256 $ 12,451 $ 49,927 Europe 4,898 786 1,265 62 7,011 Asia Pacific 2,800 687 2,275 89 5,851 Middle East 987 1,844 721 2 3,554 Other 349 156 722 1 1,228 Total net sales $ 27,474 $ 11,253 $ 16,239 $ 12,605 $ 67,571 2022 Aeronautics MFC RMS Space Total Net sales Products $ 22,870 $ 10,048 $ 12,811 $ 9,737 $ 55,466 Services 4,117 1,269 3,337 1,795 10,518 Total net sales $ 26,987 $ 11,317 $ 16,148 $ 11,532 $ 65,984 Net sales by contract type Fixed-price $ 19,431 $ 8,014 $ 10,460 $ 3,064 $ 40,969 Cost-reimbursable 7,556 3,303 5,688 8,468 25,015 Total net sales $ 26,987 $ 11,317 $ 16,148 $ 11,532 $ 65,984 Net sales by customer U.S. Government $ 18,026 $ 7,814 $ 11,331 $ 11,344 $ 48,515 International (a) 8,811 3,496 4,470 154 16,931 U.S. commercial and other 150 7 347 34 538 Total net sales $ 26,987 $ 11,317 $ 16,148 $ 11,532 $ 65,984 Net sales by geographic region United States $ 18,176 $ 7,821 $ 11,678 $ 11,378 $ 49,053 Europe 4,303 1,020 857 87 6,267 Asia Pacific 2,970 461 1,994 54 5,479 Middle East 1,103 1,858 823 12 3,796 Other 435 157 796 1 1,389 Total net sales $ 26,987 $ 11,317 $ 16,148 $ 11,532 $ 65,984 (a) International sales include FMS contracted through the U.S. Government, direct commercial sales with international governments and commercial and other sales to international customers. 2024 2023 2022 Capital expenditures Aeronautics $ 593 $ 535 $ 461 Missiles and Fire Control 265 252 253 Rotary and Mission Systems 230 220 266 Space 366 455 391 Total business segment capital expenditures 1,454 1,462 1,371 Corporate activities 231 229 299 Total capital expenditures $ 1,685 $ 1,691 $ 1,670 PP&E depreciation and software amortization Aeronautics $ 452 $ 416 $ 383 Missiles and Fire Control 183 175 160 Rotary and Mission Systems 227 220 245 Space 270 221 201 Total business segment depreciation and amortization 1,132 1,032 989 Corporate activities (a) 427 398 415 Total depreciation and amortization $ 1,559 $ 1,430 $ 1,404 (a) Includes amortization of purchased intangibles. Total assets for each of our business segments were as follows (in millions): 2024 2023 Assets Aeronautics $ 13,223 $ 13,167 Missiles and Fire Control 5,952 5,703 Rotary and Mission Systems 17,025 17,521 Space 7,388 6,560 Total business segment assets 43,588 42,951 Corporate assets (a) 12,029 9,505 Total assets $ 55,617 $ 52,456 (a) Corporate assets primarily include cash and cash equivalents, deferred income taxes, assets for the portion of environmental costs that are probable of future recovery, property, plant and equipment used in our corporate operations, assets held in a trust for deferred compensation plans, and other marketable investments.

Receivables, net, Contract As_2

Receivables, net, Contract Assets and Contract Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Receivables, Net, Contract Assets and Contract Liabilities	Receivables, net, contract assets and contract liabilities were as follows (in millions): 2024 2023 Receivables, net $ 2,351 $ 2,132 Contract assets 12,957 13,183 Contract liabilities 9,795 9,190

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Dec. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in millions): 2024 2023 Materials, spares and supplies $ 661 $ 606 Work-in-process 2,617 2,338 Finished goods 196 188 Total inventories $ 3,474 $ 3,132

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	12 Months Ended
Property, Plant and Equipment, net (Tables)	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, net consisted of the following (in millions): 2024 2023 Land $ 143 $ 144 Buildings 9,624 9,049 Machinery and equipment 10,399 9,908 Construction in progress 2,053 2,081 Total property, plant and equipment 22,219 21,182 Less: accumulated depreciation (13,493) (12,812) Total property, plant and equipment, net $ 8,726 $ 8,370

Goodwill and Acquired Intangi_2

Goodwill and Acquired Intangibles (Tables)	12 Months Ended
Goodwill and Acquired Intangibles (Tables)	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill by Segment	Changes in the carrying amount of goodwill by business segment were as follows (in millions): Aeronautics MFC RMS Space Total Balance at December 31, 2022 $ 196 $ 2,083 $ 6,726 $ 1,775 $ 10,780 Other — 3 15 1 19 Balance at December 31, 2023 196 2,086 6,741 1,776 10,799 Acquisitions — — — 298 298 Other — (1) (29) — (30) Balance at December 31, 2024 $ 196 $ 2,085 $ 6,712 $ 2,074 $ 11,067
Schedule of Gross Carrying Amounts and Accumulated Amortization of Acquired Intangible Assets	The gross carrying amounts and accumulated amortization of our acquired intangible assets consisted of the following (useful life in years, $ in millions): 2024 2023 Estimated Useful Lives Gross Accumulated Net Gross Accumulated Net Finite-Lived: Customer programs 3 - 20 $ 3,186 $ (2,128) $ 1,058 $ 3,186 $ (1,897) $ 1,289 Customer relationships 5 - 10 94 (91) 3 94 (84) 10 Other 5 - 10 156 (39) 117 72 (46) 26 Total finite-lived intangibles 3,436 (2,258) 1,178 3,352 (2,027) 1,325 Indefinite-Lived: Trademark 837 — 837 887 — 887 Total acquired intangibles $ 4,273 $ (2,258) $ 2,015 $ 4,239 $ (2,027) $ 2,212

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2024
Leases [Abstract]
Schedule of Future Minimum Lease Commitments	Future minimum lease commitments at December 31, 2024 were as follows (in millions): Total 2025 2026 2027 2028 2029 Thereafter Operating leases $ 1,295 $ 324 $ 213 $ 188 $ 153 $ 129 $ 288 Less: imputed interest 147 Total $ 1,148

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Provision for Federal & Foreign Income Tax Expense	Federal and foreign income tax expense for continuing operations consisted of the following (in millions): 2024 2023 2022 Federal income tax expense (benefit): Current $ 1,352 $ 1,574 $ 1,618 Deferred (604) (503) (776) Total federal income tax expense 748 1,071 842 Foreign income tax expense: Current 120 102 87 Deferred 16 5 19 Total foreign income tax expense 136 107 106 Total federal and foreign income tax expense $ 884 $ 1,178 $ 948
Schedule of Reconciliation of Income Tax Expense Computed Using U.S. Statutory Federal Tax Rate to Actual Income Tax Expense	A reconciliation of the U.S. federal statutory income tax expense to actual income tax expense for continuing operations is as follows (in millions): 2024 2023 2022 Amount Rate Amount Rate Amount Rate Income tax expense at the U.S. federal statutory tax rate $ 1,306 21.0 % $ 1,701 21.0 % $ 1,403 21.0 % Foreign derived intangible income deduction (210) (3.4) (185) (2.3) (176) (2.6) Research and development tax credit (207) (3.3) (227) (2.8) (178) (2.7) Tax deductible dividends (69) (1.1) (69) (0.9) (67) (1.0) Excess tax benefits for stock-based payment awards (20) (0.3) (25) (0.3) (42) (0.6) Other, net (a) 84 1.3 (17) (0.2) 8 0.1 Income tax expense $ 884 14.2 % $ 1,178 14.5 % $ 948 14.2 % (a) Other, net includes foreign income tax expenses for all years.
Schedule of Unrecognized Tax Benefits Roll Forward	The change in unrecognized tax benefits were as follows (in millions): 2024 2023 2022 Balance at January 1 $ 146 $ 1,622 $ 69 Additions based on tax positions related to the current year 78 50 1,572 Additions for tax positions of prior years 8 32 5 Reductions for tax positions of prior years (2) (1,526) (2) Settlements with tax authorities — (33) (23) Other, net (1) 1 1 Balance at December 31 $ 229 $ 146 $ 1,622
Schedule of Components of Federal and Foreign Deferred Tax Assets and Liabilities	The primary components of our federal and foreign deferred income tax assets and liabilities at December 31 were as follows (in millions): 2024 2023 Deferred tax assets related to: Pensions $ 1,184 $ 1,485 Accrued compensation and benefits 741 731 Contract accounting methods 949 508 Research and development expenditures 1,643 1,251 Domestic company operating losses (a) 83 — Foreign company operating losses and credits 6 19 Other (b) 522 487 Valuation allowance (41) (32) Deferred tax assets, net 5,087 4,449 Deferred tax liabilities related to: Goodwill and intangible assets 545 494 Property, plant and equipment 371 415 Other (b) 638 597 Deferred tax liabilities 1,554 1,506 Net deferred tax assets $ 3,533 $ 2,943 (a) Federal net operating losses obtained in the Terran Orbital transaction described above which do not expire. (b) Includes deferred tax assets and liabilities related to lease liability and ROU asset.

Debt (Tables)

Debt (Tables)	12 Months Ended
Debt (Tables)	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Our total debt consisted of the following (in millions): 2024 2023 Notes 4.95% due 2025 $ 500 $ 500 3.55% due 2026 1,000 1,000 5.10% due 2027 750 750 4.45% due 2028 500 500 4.50% due 2029 650 — 1.85% due 2030 400 400 4.70% due 2031 600 — 3.90% due 2032 800 800 5.25% due 2033 1,000 1,000 4.75% and 4.80% due 2034 1,450 850 3.60% due 2035 500 500 4.50% and 6.15% due 2036 1,054 1,054 4.07% due 2042 1,336 1,336 3.80% due 2045 1,000 1,000 4.70% due 2046 1,326 1,326 2.80% due 2050 750 750 4.09% due 2052 1,578 1,578 4.15% due 2053 850 850 5.70% due 2054 1,000 1,000 5.20% due 2055 1,050 650 4.30% due 2062 650 650 5.90% due 2063 750 750 5.20% due 2064 750 — Other notes with rates from 4.85% to 8.50%, due 2025 to 2041 1,313 1,479 Total debt 21,557 18,723 Less: unamortized discounts and issuance costs (1,287) (1,264) Total debt, net 20,270 17,459 Less: current portion (643) (168) Long-term debt, net $ 19,627 $ 17,291

Postretirement Benefit Plans (T

Postretirement Benefit Plans (Tables)	12 Months Ended
Postretirement Benefit Plans (Tables)	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Costs	The pretax FAS income (expense) related to our qualified defined benefit pension plans and retiree medical and life insurance plans included the following (in millions): Qualified Defined Retiree Medical and 2024 2023 2022 2024 2023 2022 Operating: Service cost $ (60) $ (65) $ (87) $ (5) $ (5) $ (9) Non-operating: Interest cost (1,398) (1,459) (1,289) (63) (68) (49) Expected return on plan assets 1,572 1,722 1,854 107 103 136 Amortization of net actuarial (losses) gains (259) (168) (425) 35 31 46 Amortization of prior service credits (costs) 147 348 359 (4) (10) (27) Settlement charge (a) — — (1,470) — — — Non-service FAS income (expense) 62 443 (971) 75 56 106 Total FAS income (expense) $ 2 $ 378 $ (1,058) $ 70 $ 51 $ 97 (a) During 2022, we recognized a settlement charge of $1.5 billion related to the accelerated recognition of actuarial losses for certain defined benefit pension plans that purchased group annuity contracts from an insurance company.
Schedule of Reconciliation of Benefit Obligations, Plan Assets, and Unfunded or Funded Status	The following table provides a reconciliation of benefit obligations, plan assets and net (unfunded) funded status of our qualified defined benefit pension plans and our retiree medical and life insurance plans (in millions): Qualified Defined Retiree Medical and 2024 2023 2024 2023 Change in benefit obligation Beginning balance (a) $ 28,959 $ 28,698 $ 1,328 $ 1,359 Service cost 60 65 5 5 Interest cost 1,398 1,459 63 68 Actuarial losses (gains) (b) (1,556) 731 (158) 27 Settlements (c) — (414) — — Plan amendments 2 6 — 1 Benefits paid (1,664) (1,586) (178) (192) Medicare Part D subsidy — — 2 1 Participants’ contributions — — 52 59 Ending balance (a) $ 27,199 $ 28,959 $ 1,114 $ 1,328 Change in plan assets Beginning balance at fair value $ 22,800 $ 23,228 $ 1,715 $ 1,656 Actual return on plan assets (d) 288 1,572 86 190 Settlements (c) — (414) — — Benefits paid (1,664) (1,586) (178) (192) Company contributions 990 — 1 1 Medicare Part D subsidy — — 2 1 Participants’ contributions — — 52 59 Ending balance at fair value $ 22,414 $ 22,800 $ 1,678 $ 1,715 (Unfunded) funded status of the plans $ (4,785) $ (6,159) $ 564 $ 387 (a) Benefit obligation balances represent the projected benefit obligation for our qualified defined benefit pension plans, which is approximately equal to accumulated benefit obligation, and accumulated benefit obligation for our retiree medical and life insurance plans. (b) Actuarial gains for our qualified defined benefit pension plans in 2024 primarily reflect an increase in the discount rate from 5.00% at December 31, 2023 to 5.625% at December 31, 2024, which decreased benefit obligations by approximately $1.8 billion offset by net losses of approximately $250 million due to changes in demographic data and assumptions. Actuarial gains for our retiree medical and life insurance plans in 2024 primarily reflect an increase in the discount rate from 5.00% at December 31, 2023 to 5.50% at December 31, 2024 and gains due to changes in demographic data and assumptions. Actuarial losses for our qualified defined benefit pension plans in 2023 primarily reflect a decrease in the discount rate from 5.25% at December 31, 2022 to 5.00% at December 31, 2023, which increased benefit obligations by approximately $765 million. Actuarial losses for our retiree medical and life insurance plans in 2023 reflect a decrease in the discount rate from 5.25% at December 31, 2022 to 5.00% at December 31, 2023. (c) Qualified defined benefit pension plans settlements in 2023 include $414 million in the form of lump-sum settlement payments to former employees who had not commenced receiving their vested benefit payments. The settlement payments had no impact on year 2023 FAS pension income. (d) Actual return on plan assets for our qualified defined benefit pension plans was approximately 1% in 2024 and 7% in 2023 versus the 6.50% long-term rate of return assumption.
Schedule of Amounts Recognized on Balance Sheets Related to Qualified Defined Benefit Pension Plans and Retiree Medical and Life Insurance Plans	The following table provides amounts recognized on our consolidated balance sheets related to our qualified defined benefit pension plans and our retiree medical and life insurance plans (in millions): Qualified Defined Retiree Medical and 2024 2023 2024 2023 Other noncurrent assets $ 6 $ 3 $ 564 $ 387 Accrued pension liabilities (4,791) (6,162) — — Net (unfunded) funded status of the plans $ (4,785) $ (6,159) $ 564 $ 387
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) Related to Postretirement Benefit Plans, Net of Tax	The following table provides the amount of actuarial gains or losses, and prior service costs or credits, recognized in accumulated other comprehensive loss related to qualified defined benefit pension plans and retiree medical and life insurance plans at December 31 (in millions): Qualified Defined Retiree Medical and 2024 2023 2024 2023 Accumulated other comprehensive (loss) pre-tax related to: Net actuarial (losses) gains $ (10,469) $ (10,999) $ 518 $ 416 Prior service (costs) credits (164) (15) 2 (2) Total $ (10,633) $ (11,014) $ 520 $ 414 Estimated tax 2,255 2,339 (110) (87) Net amount recognized in accumulated other comprehensive (loss) $ (8,378) $ (8,675) $ 410 $ 327 The following table provides the changes recognized in accumulated other comprehensive loss, net of tax, for actuarial gains or losses and prior service costs or credits due to differences between the actual return and expected return on plan assets and changes in the fair value of the benefit obligation recognized in connection with our annual remeasurement and the amortization during the year for our qualified defined benefit pension plans, retiree medical and life insurance plans, and certain other plans (in millions): Incurred but Not Yet Recognition of 2024 2023 2022 2024 2023 2022 Actuarial gains and (losses) Qualified defined benefit pension plans $ 211 $ (698) $ 1,952 $ (204) $ (133) $ (1,490) Retiree medical and life insurance plans 108 47 (95) 28 25 36 Other plans 23 (33) 165 (12) (8) (39) 342 (684) 2,022 (188) (116) (1,493) Net prior service credit and (cost) Qualified defined benefit pension plans (2) (5) (146) 116 274 283 Retiree medical and life insurance plans — (1) (1) (3) (8) (22) Other plans — 1 (2) (1) (1) 7 (2) (5) (149) 112 265 268 Total $ 340 $ (689) $ 1,873 $ (76) $ 149 $ (1,225)
Schedule of Actuarial Assumptions Used to Determine Net Periodic Benefit Cost	The assumptions used to determine the benefit obligations at December 31 of each year and FAS expense for each subsequent year were as follows: Qualified Defined Benefit Retiree Medical and 2024 2023 2022 2024 2023 2022 Weighted average discount rate 5.625 % 5.00 % 5.25 % 5.50 % 5.00 % 5.25 % Expected long-term rate of return on assets 6.50 % 6.50 % 6.50 % 6.50 % 6.50 % 6.50 % Health care trend rate assumed for next year 8.50 % 8.00 % 7.25 % Ultimate health care trend rate 4.50 % 4.50 % 4.50 % Year ultimate health care trend rate is reached 2041 2038 2034
Schedule of Allocation of Plan Assets	LMIMCo’s investment policies require that asset allocations of postretirement benefit plans be maintained within the following approximate ranges: Asset Class Asset Allocation Cash and cash equivalents 0-20% Global Equity 10-65% Fixed income 10-60% Alternative investments: Private equity funds 5-30% Real estate funds 0-20% Hedge funds 0-20% Commodities 0-10% The following table presents the fair value of the assets of our qualified defined benefit pension plans and retiree medical and life insurance plans by asset category and their level within the fair value hierarchy (see “Note 1 – Organization and Significant Accounting Policies - Investments” for definition of these levels), which we are required to disclose even though these assets are not separately recorded on our consolidated balance sheet. Certain investments are measured at their Net Asset Value (NAV) per share because such investments do not have readily determinable fair values and, therefore, are not required to be categorized in the fair value hierarchy. Assets measured at NAV have been included in the table below to permit reconciliation of the fair value hierarchy to amounts presented in the funded status table above. December 31, 2024 December 31, 2023 (in millions) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Investments measured at fair value Cash and cash equivalents (a) $ 2,425 $ 2,425 $ — $ — $ 1,789 $ 1,789 $ — $ — Equity (a) : U.S. equity securities 3,232 3,158 — 74 2,802 2,715 8 79 International equity securities 1,827 1,810 — 17 1,875 1,853 — 22 Commingled equity funds 382 170 212 — 423 163 260 — Fixed income (b) : Corporate debt securities 4,159 — 4,099 60 4,510 — 4,495 15 U.S. Government securities 2,483 — 2,483 — 2,376 — 2,376 — U.S. Government-sponsored enterprise securities 1,134 — 1,134 — 1,120 — 1,120 — Interest rate swaps, net (1,878) (1,878) (1,284) (1,284) Other fixed income investments (c) 2,050 60 882 1,108 1,949 63 725 1,161 Total $ 15,814 $ 7,623 $ 6,932 $ 1,259 $ 15,560 $ 6,583 $ 7,700 $ 1,277 Investments measured at NAV Other fixed income investments 552 826 Private equity funds 4,863 4,951 Real estate funds 3,088 3,267 Hedge funds 1,028 847 Total investments measured at NAV 9,531 9,891 Loan, net (d) (473) (497) (Payables) Receivables, net (780) (439) Total $ 24,092 $ 24,515 (a) Cash and cash equivalents and equity securities include derivative assets and liabilities with fair values that were not material as of December 31, 2024 and 2023. LMIMCo’s investment policies restrict the use of derivatives to either establish long or short exposures for purposes consistent with applicable investment mandate guidelines or to hedge risks to the extent of a plan’s current exposure to such risks. Most derivative transactions are settled on a daily basis. (b) Fixed income securities include (i) derivative exposure for the liability hedge, which constitutes most of the value in interest rate swaps, and (ii) other derivative exposure with fair values that were not material as of December 31, 2024 and 2023. (c) Level 3 investments include 1.0 billion at December 31, 2024 and $1.1 billion at December 31, 2023 related to buy-in contracts. (d) The Lockheed Martin Corporation Master Retirement Trust (MRT) obtained a loan from a third-party financial institution, collateralized by private equity investments, to invest in fixed income securities.
Schedule of Estimated Future Benefit Payments	The following table presents estimated future benefit payments as of December 31, 2024 (in millions): 2025 2026 2027 2028 2029 2030 – 2034 Qualified defined benefit pension plans $ 1,800 $ 1,860 $ 1,910 $ 1,960 $ 1,990 $ 9,990 Retiree medical and life insurance plans 110 110 110 100 100 440

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
Stockholders' Equity (Tables)	Dec. 31, 2024
Equity [Abstract]
Schedule of Changes in Balance of Accumulated Other Comprehensive Loss, Net of Income Taxes	Changes in the balance of AOCL, net of taxes, consisted of the following (in millions): Postretirement Benefit Plans (a) Other, net AOCL Balance at December 31, 2021 $ (10,964) $ (42) $ (11,006) Other comprehensive income (loss) before reclassifications 1,873 (159) 1,714 Amounts reclassified from AOCL Pension settlement charge (b) 1,156 — 1,156 Recognition of net actuarial losses 337 — 337 Amortization of net prior service credits (268) — (268) Other — 44 44 Total reclassified from AOCL 1,225 44 1,269 Total other comprehensive income (loss) 3,098 (115) 2,983 Balance at December 31, 2022 (7,866) (157) (8,023) Other comprehensive (loss) income before reclassifications (689) 23 (666) Amounts reclassified from AOCL Recognition of net actuarial losses 116 — 116 Amortization of net prior service credits (265) — (265) Other — 35 35 Total reclassified from AOCL (149) 35 (114) Total other comprehensive (loss) income (838) 58 (780) Balance at December 31, 2023 (8,704) (99) (8,803) Other comprehensive income (loss) before reclassifications 340 (104) 236 Amounts reclassified from AOCL Recognition of net actuarial losses 188 — 188 Amortization of net prior service credits (112) — (112) Other — 39 39 Total reclassified from AOCL 76 39 115 Total other comprehensive income (loss) 416 (65) 351 Balance at December 31, 2024 $ (8,288) $ (164) $ (8,452) (a) AOCL related to postretirement benefit plans is shown net of tax benefits of $2.2 billion at December 31, 2024, $2.3 billion at December 31, 2023 and $2.1 billion at December 31, 2022. These tax benefits include amounts recognized on our income tax returns as current deductions and deferred income taxes, which will be recognized on our tax returns in future years. See “Note 9 – Income Taxes” and “Note 11 – Postretirement Benefit Plans” for more information on our income taxes and postretirement benefit plans. (b) During 2022, we recognized a noncash, non-operating pension settlement charge of $1.5 billion ($1.2 billion, or $4.33 per share, after-tax) related to the accelerated recognition of actuarial losses included in AOCL for certain defined benefit pension plans that purchased a group annuity contract from an insurance company (see “Note 11 – Postretirement Benefit Plans”).

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
Stock-Based Compensation (Tables)	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Based Compensation Activity Related to Nonvested RSUs	The following table summarizes activity related to nonvested RSUs: Number Weighted Average Nonvested at December 31, 2023 922 $ 409.17 Granted 613 428.43 Vested (505) 381.71 Forfeited (48) 435.75 Nonvested at December 31, 2024 982 $ 434.01

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following (in millions): December 31, 2024 December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets Mutual funds $ 1,072 $ 1,072 $ — $ — $ 1,025 $ 1,025 $ — $ — U.S. Government securities 116 — 116 — 119 — 119 — Other securities 645 342 303 — 679 333 301 45 Derivatives 9 — 9 — 32 — 32 — Liabilities Derivatives 196 — 196 — 200 — 200 —

Organization and Significant _3

Organization and Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Millions		3 Months Ended		12 Months Ended
	Oct. 30, 2024 USD ($)	Dec. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($) segment contract $ / shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($) $ / shares
Accounting Policies [Abstract]
Number of business segments \| segment				4
Number of contract types \| contract				3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Ending backlog		$ 176,000		$ 176,000
Significant Accounting Policies [Line Items]
Goodwill		11,067		11,067	$ 10,799	$ 10,780
Performance obligation satisfied in previous period				1,200	1,600	2,000
Contract liabilities		9,795		9,795	9,190
Independent research and development costs charged to cost of sales				$ 1,600	1,500	1,700
Number of years over which equity awards vest				1 year
Capitalized internal-use software, net		1,900		$ 1,900	1,400
Capitalized internal-use software accumulated amortization		3,100		3,100	2,800
Capitalized internal-use software amortization				346	263	253
Carrying amount of investments held in Lockheed martin venture fund		600		600	581
Realized (loss) gain reflected in other non-operating income				22	(64)	(114)
Realized (loss) gain recognized for changes in fair value, net of tax				$ 17	$ (48)	$ (86)
Realized (loss) gain, net of tax, amount per share ( in dollars per share) \| $ / shares				$ 0.07	$ (0.19)	$ (0.33)
Equity method investments		$ 654		$ 654	$ 701
Net earnings from equity method investments				$ 56	40	$ 114
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		Other noncurrent assets		Other noncurrent assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]		Other current liabilities		Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]		Other noncurrent liabilities		Other noncurrent liabilities
Environmental costs eligible for future recovery				20 years
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other current assets, Other noncurrent assets		Other current assets, Other noncurrent assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other current liabilities, Other noncurrent liabilities		Other current liabilities, Other noncurrent liabilities
Canadian Government
Significant Accounting Policies [Line Items]
Contract asset		$ 955		$ 955
Minimum
Significant Accounting Policies [Line Items]
Number of years over which equity awards vest				1 year
Acquired finite-lived intangible assets are amortized		3 years		3 years
Minimum \| Buildings
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated life		10 years		10 years
Minimum \| Machinery and equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated life		5 years		5 years
Minimum \| Capitalized Software
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated life		2 years		2 years
Maximum
Significant Accounting Policies [Line Items]
Number of years over which equity awards vest				3 years
Acquired finite-lived intangible assets are amortized		20 years		20 years
Maximum \| Buildings
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated life		40 years		40 years
Maximum \| Machinery and equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated life		15 years		15 years
Maximum \| Capitalized Software
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated life		15 years		15 years
Restricted Stock Units and Performance Stock Units
Significant Accounting Policies [Line Items]
Number of years over which equity awards vest				3 years
Aeronautics
Significant Accounting Policies [Line Items]
Goodwill		$ 196		$ 196	196	196
MFC
Significant Accounting Policies [Line Items]
Goodwill		2,085		2,085	2,086	2,083
Reach-forward loss			$ 100	1,400
Operating profit favorable profit adjustments				155
Cumulative losses on development		1,460		1,460
Additional operating profit reach-forward loss		1,310		1,310
Additional options of potential loss				1,410
Contract liabilities		1,360		1,360
Space
Significant Accounting Policies [Line Items]
Net earnings from equity method investments				45	20	100
Classified Fixed-Price Incentive Fee Contract
Significant Accounting Policies [Line Items]
Reach-forward loss		410		555
Cumulative losses on development		825		825
Classified Fixed-Price Incentive Fee Contract \| Aeronautics
Significant Accounting Policies [Line Items]
Reach-forward loss				555
Canadian Maritime Helicopter Program
Significant Accounting Policies [Line Items]
Reach-forward loss					100
Operating profit favorable profit adjustments					65
Contracts Accounted for under Percentage of Completion
Significant Accounting Policies [Line Items]
Increase (decrease) in operating profit due to profit rate adjustments				(180)	1,600	1,800
Increase (decrease) in net earnings due to profit rate adjustments				$ (142)	$ 1,300	$ 1,400
Increase (decrease) in diluted earnings per common share due to profit rate adjustments (in dollars per share) \| $ / shares				$ 0.59	$ 4.98	$ 5.40
Cumulative losses on development		$ 100		$ 100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Period One
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage		35%		35%
Expected time of satisfaction		12 months		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Period Two
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage		60%		60%
Expected time of satisfaction		24 months		24 months
Terran Orbital
Significant Accounting Policies [Line Items]
Total transaction value	$ 314
Purchase price	83
Net of cash acquired	231
Goodwill	$ 298

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Weighted Average Shares Outstanding Used to Compute Earnings Per Common Share (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Weighted average common shares outstanding for basic computations (in shares)	238.3	250.3	263.7
Weighted average dilutive effect of equity awards (in shares)	0.9	0.9	0.9
Weighted average common shares outstanding for diluted computations (in shares)	239.2	251.2	264.6

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Significant anti-dilutive equity awards (in shares)	0	0	0

Information on Business Segme_3

Information on Business Segments - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022
Segment Reporting Information [Line Items]
Number of business segments \| segment	4
Equity method investments	$ 654	$ 701
United Launch Alliance
Segment Reporting Information [Line Items]
Percentage of ownership interest in affiliated entity	50%
Equity method investments	$ 551	$ 567
Aeronautics \| F-35 Program \| Net Sales \| Product Concentration Risk
Segment Reporting Information [Line Items]
Net sales for the F-35 program representing total consolidated net sales (as a percent)	26%	26%	27%

Information on Business Segme_4

Information on Business Segments - Summary of Financial Information for Each Business Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net sales
Total net sales	$ 71,043	$ 67,571	$ 65,984
Cost of sales
Total cost of sales	64,113	59,092	57,697
Operating profit
Total business segment operating profit	7,013	8,507	8,348
Unallocated items
Intangible asset amortization expense	(247)	(247)	(248)
Severance and restructuring	(87)	(92)	(100)
Operating Segments
Net sales
Total net sales	71,043	67,571	65,984
Cost of sales
Total cost of sales	65,069	60,233	58,609
Operating profit
Total business segment operating profit	6,083	7,389	7,467
Unallocated items
Unallocated items
FAS/CAS pension operating adjustment	1,624	1,660	1,709
Intangible asset amortization expense	(247)	(247)	(248)
Severance and restructuring	(87)	(92)	(100)
Other, net	(360)	(203)	(480)
Total unallocated, net	930	1,118	881
Intersegment sales
Net sales
Total net sales	3,893	3,474	3,187
Aeronautics
Net sales
Total net sales	28,618	27,474	26,987
Aeronautics \| Operating Segments
Net sales
Total net sales	28,618	27,474	26,987
Cost of sales
Total cost of sales	26,093	24,649	24,110
Operating profit
Total business segment operating profit	2,523	2,825	2,867
Aeronautics \| Intersegment sales
Net sales
Total net sales	377	303	249
Missiles and Fire Control
Net sales
Total net sales	12,682	11,253	11,317
Missiles and Fire Control \| Operating Segments
Net sales
Total net sales	12,682	11,253	11,317
Cost of sales
Total cost of sales	12,277	9,712	9,676
Operating profit
Total business segment operating profit	413	1,541	1,637
Missiles and Fire Control \| Intersegment sales
Net sales
Total net sales	804	688	627
Rotary and Mission Systems
Net sales
Total net sales	17,264	16,239	16,148
Rotary and Mission Systems \| Operating Segments
Net sales
Total net sales	17,264	16,239	16,148
Cost of sales
Total cost of sales	15,391	14,399	14,258
Operating profit
Total business segment operating profit	1,921	1,865	1,906
Rotary and Mission Systems \| Intersegment sales
Net sales
Total net sales	2,320	2,125	1,930
Space
Net sales
Total net sales	12,479	12,605	11,532
Space \| Operating Segments
Net sales
Total net sales	12,479	12,605	11,532
Cost of sales
Total cost of sales	11,308	11,473	10,565
Operating profit
Total business segment operating profit	1,226	1,158	1,057
Space \| Intersegment sales
Net sales
Total net sales	$ 392	$ 358	$ 381

Information on Business Segme_5

Information on Business Segments - Income Statement Information For Each Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total net sales	$ 71,043	$ 67,571	$ 65,984
Aeronautics
Segment Reporting Information [Line Items]
Total net sales	28,618	27,474	26,987
MFC
Segment Reporting Information [Line Items]
Total net sales	12,682	11,253	11,317
RMS
Segment Reporting Information [Line Items]
Total net sales	17,264	16,239	16,148
Space
Segment Reporting Information [Line Items]
Total net sales	12,479	12,605	11,532
United States
Segment Reporting Information [Line Items]
Total net sales	52,528	49,927	49,053
United States \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	19,436	18,440	18,176
United States \| MFC
Segment Reporting Information [Line Items]
Total net sales	9,053	7,780	7,821
United States \| RMS
Segment Reporting Information [Line Items]
Total net sales	11,801	11,256	11,678
United States \| Space
Segment Reporting Information [Line Items]
Total net sales	12,238	12,451	11,378
Europe
Segment Reporting Information [Line Items]
Total net sales	7,716	7,011	6,267
Europe \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	5,071	4,898	4,303
Europe \| MFC
Segment Reporting Information [Line Items]
Total net sales	1,327	786	1,020
Europe \| RMS
Segment Reporting Information [Line Items]
Total net sales	1,243	1,265	857
Europe \| Space
Segment Reporting Information [Line Items]
Total net sales	75	62	87
Asia Pacific
Segment Reporting Information [Line Items]
Total net sales	6,241	5,851	5,479
Asia Pacific \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	2,763	2,800	2,970
Asia Pacific \| MFC
Segment Reporting Information [Line Items]
Total net sales	763	687	461
Asia Pacific \| RMS
Segment Reporting Information [Line Items]
Total net sales	2,556	2,275	1,994
Asia Pacific \| Space
Segment Reporting Information [Line Items]
Total net sales	159	89	54
Middle East
Segment Reporting Information [Line Items]
Total net sales	3,075	3,554	3,796
Middle East \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	808	987	1,103
Middle East \| MFC
Segment Reporting Information [Line Items]
Total net sales	1,473	1,844	1,858
Middle East \| RMS
Segment Reporting Information [Line Items]
Total net sales	787	721	823
Middle East \| Space
Segment Reporting Information [Line Items]
Total net sales	7	2	12
Other
Segment Reporting Information [Line Items]
Total net sales	1,483	1,228	1,389
Other \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	540	349	435
Other \| MFC
Segment Reporting Information [Line Items]
Total net sales	66	156	157
Other \| RMS
Segment Reporting Information [Line Items]
Total net sales	877	722	796
Other \| Space
Segment Reporting Information [Line Items]
Total net sales	0	1	1
U.S. Government
Segment Reporting Information [Line Items]
Total net sales	52,044	49,423	48,515
U.S. Government \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	19,314	18,311	18,026
U.S. Government \| MFC
Segment Reporting Information [Line Items]
Total net sales	9,043	7,769	7,814
U.S. Government \| RMS
Segment Reporting Information [Line Items]
Total net sales	11,469	10,961	11,331
U.S. Government \| Space
Segment Reporting Information [Line Items]
Total net sales	12,218	12,382	11,344
International
Segment Reporting Information [Line Items]
Total net sales	18,515	17,644	16,931
International \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	9,182	9,034	8,811
International \| MFC
Segment Reporting Information [Line Items]
Total net sales	3,629	3,473	3,496
International \| RMS
Segment Reporting Information [Line Items]
Total net sales	5,463	4,983	4,470
International \| Space
Segment Reporting Information [Line Items]
Total net sales	241	154	154
U.S. commercial and other
Segment Reporting Information [Line Items]
Total net sales	484	504	538
U.S. commercial and other \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	122	129	150
U.S. commercial and other \| MFC
Segment Reporting Information [Line Items]
Total net sales	10	11	7
U.S. commercial and other \| RMS
Segment Reporting Information [Line Items]
Total net sales	332	295	347
U.S. commercial and other \| Space
Segment Reporting Information [Line Items]
Total net sales	20	69	34
Fixed-price
Segment Reporting Information [Line Items]
Total net sales	42,728	40,004	40,969
Fixed-price \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	19,603	18,664	19,431
Fixed-price \| MFC
Segment Reporting Information [Line Items]
Total net sales	8,774	7,661	8,014
Fixed-price \| RMS
Segment Reporting Information [Line Items]
Total net sales	10,870	10,403	10,460
Fixed-price \| Space
Segment Reporting Information [Line Items]
Total net sales	3,481	3,276	3,064
Cost-reimbursable
Segment Reporting Information [Line Items]
Total net sales	28,315	27,567	25,015
Cost-reimbursable \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	9,015	8,810	7,556
Cost-reimbursable \| MFC
Segment Reporting Information [Line Items]
Total net sales	3,908	3,592	3,303
Cost-reimbursable \| RMS
Segment Reporting Information [Line Items]
Total net sales	6,394	5,836	5,688
Cost-reimbursable \| Space
Segment Reporting Information [Line Items]
Total net sales	8,998	9,329	8,468
Products
Segment Reporting Information [Line Items]
Total net sales	59,277	56,265	55,466
Products \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	23,598	22,758	22,870
Products \| MFC
Segment Reporting Information [Line Items]
Total net sales	11,275	9,919	10,048
Products \| RMS
Segment Reporting Information [Line Items]
Total net sales	14,005	12,913	12,811
Products \| Space
Segment Reporting Information [Line Items]
Total net sales	10,399	10,675	9,737
Services
Segment Reporting Information [Line Items]
Total net sales	11,766	11,306	10,518
Services \| Aeronautics
Segment Reporting Information [Line Items]
Total net sales	5,020	4,716	4,117
Services \| MFC
Segment Reporting Information [Line Items]
Total net sales	1,407	1,334	1,269
Services \| RMS
Segment Reporting Information [Line Items]
Total net sales	3,259	3,326	3,337
Services \| Space
Segment Reporting Information [Line Items]
Total net sales	$ 2,080	$ 1,930	$ 1,795

Information on Business Segme_6

Information on Business Segments - Summary of Financial Information for Each Business Segment, Intersegment Sale, Depreciation and Capital Expenditures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Capital expenditures	$ 1,685	$ 1,691	$ 1,670
PP&E depreciation and software amortization	1,559	1,430	1,404
Operating Segments
Segment Reporting Information [Line Items]
Capital expenditures	1,454	1,462	1,371
PP&E depreciation and software amortization	1,132	1,032	989
Operating Segments \| Aeronautics
Segment Reporting Information [Line Items]
Capital expenditures	593	535	461
PP&E depreciation and software amortization	452	416	383
Operating Segments \| Missiles and Fire Control
Segment Reporting Information [Line Items]
Capital expenditures	265	252	253
PP&E depreciation and software amortization	183	175	160
Operating Segments \| Rotary and Mission Systems
Segment Reporting Information [Line Items]
Capital expenditures	230	220	266
PP&E depreciation and software amortization	227	220	245
Operating Segments \| Space
Segment Reporting Information [Line Items]
Capital expenditures	366	455	391
PP&E depreciation and software amortization	270	221	201
Corporate assets
Segment Reporting Information [Line Items]
Capital expenditures	231	229	299
PP&E depreciation and software amortization	$ 427	$ 398	$ 415

Information on Business Segme_7

Information on Business Segments - Total Assets and Customer Advances and Amounts In Excess Of Costs Incurred For Each Business Segment (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Assets	$ 55,617	$ 52,456
Operating Segments
Segment Reporting Information [Line Items]
Assets	43,588	42,951
Operating Segments \| Aeronautics
Segment Reporting Information [Line Items]
Assets	13,223	13,167
Operating Segments \| Missiles and Fire Control
Segment Reporting Information [Line Items]
Assets	5,952	5,703
Operating Segments \| Rotary and Mission Systems
Segment Reporting Information [Line Items]
Assets	17,025	17,521
Operating Segments \| Space
Segment Reporting Information [Line Items]
Assets	7,388	6,560
Corporate assets
Segment Reporting Information [Line Items]
Assets	$ 12,029	$ 9,505

Receivables, net, Contract As_3

Receivables, net, Contract Assets and Contract Liabilities - Schedule of Receivables and Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Receivables, net	$ 2,351	$ 2,132
Contract assets	12,957	13,183
Contract liabilities	$ 9,795	$ 9,190

Receivables, net, Contract As_4

Receivables, net, Contract Assets and Contract Liabilities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
U.S. government receivables	$ 1,700,000,000
Receivables from other governments and commercial customers	2,351,000,000	$ 2,132,000,000
Contract assets, progress payments	55,600,000,000	50,500,000,000
Decrease in contract assets	226,000,000
Impairment loss	0	0
Increase in contract liability	605,000,000	702,000,000	$ 381,000,000
Liability, revenue recognized	5,900,000,000	$ 5,100,000,000	$ 4,800,000,000
Other Governments and Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables from other governments and commercial customers	$ 665,000,000

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Materials, spares and supplies	$ 661	$ 606
Work-in-process	2,617	2,338
Finished goods	196	188
Total inventories	$ 3,474	$ 3,132

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Capitalized contract cost	$ 1,500	$ 989

Property, Plant and Equipment_3

Property, Plant and Equipment, net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 22,219	$ 21,182
Less: accumulated depreciation	(13,493)	(12,812)
Total property, plant and equipment, net	8,726	8,370
Depreciation	967	920	$ 903
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	143	144
Buildings
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	9,624	9,049
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	10,399	9,908
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 2,053	$ 2,081

Goodwill and Acquired Intangi_3

Goodwill and Acquired Intangibles - Changes in the Carrying Amount of Goodwill by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 10,799	$ 10,780
Other	(30)	19
Acquisitions	298
Goodwill, ending balance	11,067	10,799
Aeronautics
Goodwill [Roll Forward]
Goodwill, beginning balance	196	196
Other	0	0
Acquisitions	0
Goodwill, ending balance	196	196
MFC
Goodwill [Roll Forward]
Goodwill, beginning balance	2,086	2,083
Other	(1)	3
Acquisitions	0
Goodwill, ending balance	2,085	2,086
RMS
Goodwill [Roll Forward]
Goodwill, beginning balance	6,741	6,726
Other	(29)	15
Acquisitions	0
Goodwill, ending balance	6,712	6,741
Space Systems
Goodwill [Roll Forward]
Goodwill, beginning balance	1,776	1,775
Other	0	1
Acquisitions	298
Goodwill, ending balance	$ 2,074	$ 1,776

Goodwill and Acquired Intangi_4

Goodwill and Acquired Intangibles - Acquired Intangible Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Finite-lived, gross carrying amount	$ 3,436	$ 3,352
Finite-lived, accumulated amortization	(2,258)	(2,027)
Finite-lived, net carrying amount	1,178	1,325
Indefinite-lived, carrying amount	837	887
Intangible assets, gross (excluding goodwill), total	4,273	4,239
Total acquired intangibles, net carrying amount	$ 2,015	2,212
Minimum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized	20 years
Customer programs
Finite-Lived Intangible Assets [Line Items]
Finite-lived, gross carrying amount	$ 3,186	3,186
Finite-lived, accumulated amortization	(2,128)	(1,897)
Finite-lived, net carrying amount	$ 1,058	1,289
Customer programs \| Minimum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized	3 years
Customer programs \| Maximum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized	20 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived, gross carrying amount	$ 94	94
Finite-lived, accumulated amortization	(91)	(84)
Finite-lived, net carrying amount	$ 3	10
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized	5 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized	10 years
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived, gross carrying amount	$ 156	72
Finite-lived, accumulated amortization	(39)	(46)
Finite-lived, net carrying amount	$ 117	$ 26
Other \| Minimum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized	5 years
Other \| Maximum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized	10 years

Goodwill and Acquired Intangi_5

Goodwill and Acquired Intangibles - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of purchased intangibles	$ 247	$ 247	$ 248
Amortization of finite lived intangible assets in 2025	241
Amortization of finite lived intangible assets in 2026	174
Amortization of finite lived intangible assets in 2027	173
Amortization of finite lived intangible assets in 2028	168
Amortization of finite lived intangible assets in 2029	$ 159

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease, right-of-use asset	$ 1,000
Operating lease, liability	1,148
Operating lease, liability, noncurrent	833
New ROU operating lease assets and liabilities entered into	$ 248
Weighted average remaining lease term	6 years 9 months 18 days
Weighted average discount rate	3.50%
Operating lease cost	$ 260	$ 273	$ 275
Cash payments	$ 258	$ 267	$ 269

Leases - Future Minimum Lease C

Leases - Future Minimum Lease Commitments (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
Total	$ 1,295
2025	324
2026	213
2027	188
2028	153
2029	129
Thereafter	288
Less: imputed interest	147
Total	$ 1,148

Income Taxes - Provision for Fe

Income Taxes - Provision for Federal & Foreign Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Federal income tax expense (benefit):
Current	$ 1,352	$ 1,574	$ 1,618
Deferred	(604)	(503)	(776)
Total federal income tax expense	748	1,071	842
Foreign income tax expense:
Current	120	102	87
Deferred	16	5	19
Total foreign income tax expense	136	107	106
Total federal and foreign income tax expense	$ 884	$ 1,178	$ 948

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Total net state income tax expense	$ 121	$ 115	$ 124
Unrecognized tax benefits	229	146	1,622	$ 69
Federal and foreign income tax payments made, net of refunds received	$ 1,300	$ 1,800	$ 1,600

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Expense Computed Using U.S. Statutory Federal Tax Rate to Actual Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Amount
Income tax expense at the U.S. federal statutory tax rate	$ 1,306	$ 1,701	$ 1,403
Foreign derived intangible income deduction	(210)	(185)	(176)
Research and development tax credit	(207)	(227)	(178)
Tax deductible dividends	(69)	(69)	(67)
Excess tax benefits for stock-based payment awards	(20)	(25)	(42)
Other, net (a)	84	(17)	8
Total federal and foreign income tax expense	$ 884	$ 1,178	$ 948
Rate
Income tax expense at the U.S. federal statutory tax rate	21%	21%	21%
Foreign derived intangible income deduction	(3.40%)	(2.30%)	(2.60%)
Research and development tax credit	(3.30%)	(2.80%)	(2.70%)
Tax deductible dividends	(1.10%)	(0.90%)	(1.00%)
Excess tax benefits for stock-based payment awards	(0.30%)	(0.30%)	(0.60%)
Other, net (a)	1.30%	(0.20%)	0.10%
Income tax expense	14.20%	14.50%	14.20%

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Balance at January 1	$ 146	$ 1,622	$ 69
Additions based on tax positions related to the current year	78	50	1,572
Additions for tax positions of prior years	8	32	5
Reductions for tax positions of prior years	(2)	(1,526)	(2)
Settlements with tax authorities	0	(33)	(23)
Other, net	(1)	1	1
Balance at December 31	$ 229	$ 146	$ 1,622

Income Taxes - Components of Fe

Income Taxes - Components of Federal and Foreign Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets related to:
Pensions	$ 1,184	$ 1,485
Accrued compensation and benefits	741	731
Contract accounting methods	949	508
Research and development expenditures	1,643	1,251
Domestic company operating losses	83	0
Foreign company operating losses and credits	6	19
Other	522	487
Valuation allowance	(41)	(32)
Deferred tax assets, net	5,087	4,449
Deferred tax liabilities related to:
Goodwill and intangible assets	545	494
Property, plant and equipment	371	415
Other	638	597
Deferred tax liabilities	1,554	1,506
Net deferred tax assets	$ 3,533	$ 2,943

Debt - Long Term Debt (Details)

Debt - Long Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 21,557	$ 18,723
Less: unamortized discounts and issuance costs	(1,287)	(1,264)
Total debt, net	20,270	17,459
Less: current portion	(643)	(168)
Long-term debt, net	$ 19,627	17,291
4.95% due 2025
Debt Instrument [Line Items]
Interest rate	4.95%
Total debt	$ 500	500
3.55% due 2026
Debt Instrument [Line Items]
Interest rate	3.55%
Total debt	$ 1,000	1,000
5.10% due 2027
Debt Instrument [Line Items]
Interest rate	5.10%
Total debt	$ 750	750
4.45% due 2028
Debt Instrument [Line Items]
Interest rate	4.45%
Total debt	$ 500	500
4.50% due 2029
Debt Instrument [Line Items]
Interest rate	4.50%
Total debt	$ 650	0
1.85% due 2030
Debt Instrument [Line Items]
Interest rate	1.85%
Total debt	$ 400	400
4.70% due 2031
Debt Instrument [Line Items]
Interest rate	4.70%
Total debt	$ 600	0
3.90% due 2032
Debt Instrument [Line Items]
Interest rate	3.90%
Total debt	$ 800	800
5.25% due 2033
Debt Instrument [Line Items]
Interest rate	5.25%
Total debt	$ 1,000	1,000
4.75% and 4.80% due 2034
Debt Instrument [Line Items]
Total debt	$ 1,450	850
4.75% and 4.80% due 2034 \| Minimum
Debt Instrument [Line Items]
Interest rate	4.75%
4.75% and 4.80% due 2034 \| Maximum
Debt Instrument [Line Items]
Interest rate	4.80%
3.60% due 2035
Debt Instrument [Line Items]
Interest rate	3.60%
Total debt	$ 500	500
4.50% and 6.15% due 2036
Debt Instrument [Line Items]
Total debt	$ 1,054	1,054
4.50% and 6.15% due 2036 \| Minimum
Debt Instrument [Line Items]
Interest rate	4.50%
4.50% and 6.15% due 2036 \| Maximum
Debt Instrument [Line Items]
Interest rate	6.15%
4.07% due 2042
Debt Instrument [Line Items]
Interest rate	4.07%
Total debt	$ 1,336	1,336
3.80% due 2045
Debt Instrument [Line Items]
Interest rate	3.80%
Total debt	$ 1,000	1,000
4.70% due 2046
Debt Instrument [Line Items]
Interest rate	4.70%
Total debt	$ 1,326	1,326
2.80% due 2050
Debt Instrument [Line Items]
Interest rate	2.80%
Total debt	$ 750	750
4.09% due 2052
Debt Instrument [Line Items]
Interest rate	4.09%
Total debt	$ 1,578	1,578
4.15% due 2053
Debt Instrument [Line Items]
Interest rate	4.15%
Total debt	$ 850	850
5.70% due 2054
Debt Instrument [Line Items]
Interest rate	5.70%
Total debt	$ 1,000	1,000
5.20% due 2055
Debt Instrument [Line Items]
Interest rate	5.20%
Total debt	$ 1,050	650
4.30% due 2062
Debt Instrument [Line Items]
Interest rate	4.30%
Total debt	$ 650	650
5.90% due 2063
Debt Instrument [Line Items]
Interest rate	5.90%
Total debt	$ 750	750
5.20% due 2064
Debt Instrument [Line Items]
Interest rate	5.20%
Total debt	$ 750	0
Other notes with rates from 4.85% to 8.50%, due 2025 to 2041
Debt Instrument [Line Items]
Total debt	$ 1,313	$ 1,479
Other notes with rates from 4.85% to 8.50%, due 2025 to 2041 \| Minimum
Debt Instrument [Line Items]
Interest rate	4.85%
Other notes with rates from 4.85% to 8.50%, due 2025 to 2041 \| Maximum
Debt Instrument [Line Items]
Interest rate	8.50%

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)					12 Months Ended
Debt - Additional Information (Details) - USD ($)	Dec. 11, 2024	Jan. 29, 2024	May 25, 2023	Aug. 24, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Commercial paper borrowings					$ 0
Issuance of long-term debt, net of related costs					2,970,000,000	$ 1,975,000,000	$ 6,211,000,000
Interest payments excluding capitalized interest					$ 950,000,000	832,000,000	$ 573,000,000
Senior Notes
Debt Instrument [Line Items]
Amount of issued debt	$ 1,000,000,000	$ 2,000,000,000	$ 2,000,000,000
Issuance of long-term debt, net of related costs	$ 990,000,000	$ 1,980,000,000	$ 1,975,000,000
Debt instrument, redemption price, percentage	100%	100%	100%
4.70% due 2031
Debt Instrument [Line Items]
Interest rate					4.70%
4.70% due 2031 \| Senior Notes
Debt Instrument [Line Items]
Amount of issued debt	$ 600,000,000
Interest rate	4.70%
5.20% due 2055
Debt Instrument [Line Items]
Interest rate					5.20%
5.20% due 2055 \| Senior Notes
Debt Instrument [Line Items]
Amount of issued debt	$ 400,000,000		$ 650,000,000		$ 1,050,000,000
Interest rate	5.20%		5.20%		5.20%
4.50% due 2029
Debt Instrument [Line Items]
Interest rate					4.50%
4.50% due 2029 \| Senior Notes
Debt Instrument [Line Items]
Amount of issued debt		$ 650,000,000
Interest rate		4.50%
4.80% due 2034 \| Senior Notes
Debt Instrument [Line Items]
Amount of issued debt		$ 600,000,000
Interest rate		4.80%
5.20% due 2064
Debt Instrument [Line Items]
Interest rate					5.20%
5.20% due 2064 \| Senior Notes
Debt Instrument [Line Items]
Amount of issued debt		$ 750,000,000
Interest rate		5.20%
4.45% due 2028
Debt Instrument [Line Items]
Interest rate					4.45%
4.45% due 2028 \| Senior Notes
Debt Instrument [Line Items]
Amount of issued debt			$ 500,000,000
Interest rate			4.45%
4.75% due 2034 \| Senior Notes
Debt Instrument [Line Items]
Amount of issued debt			$ 850,000,000
Interest rate			4.75%
Revolving Credit Facility \| Five Year Revolving Credit Facility \| Unsecured Debt
Debt Instrument [Line Items]
Line of credit facility				$ 3,000,000,000
Debt instrument, term				5 years
Line of credit facility, accordion feature, increase limit				$ 500,000,000
Line of credit facility, accordion feature, higher borrowing capacity option				$ 3,500,000,000
Line of credit facility, amount outstanding					$ 0	$ 0

Postretirement Benefit Plans -

Postretirement Benefit Plans - Schedule of Net Periodic Benefit Costs (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Pension settlement charge	$ 0	$ 0	$ (1,470)
Pension settlement charge	0	0	1,470
Qualified Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	(60)	(65)	(87)
Interest cost	(1,398)	(1,459)	(1,289)
Expected return on plan assets	1,572	1,722	1,854
Amortization of net actuarial (losses) gains	(259)	(168)	(425)
Amortization of prior service credits (costs)	147	348	359
Pension settlement charge	0	0	(1,470)
Non-service FAS income (expense)	62	443	(971)
Total FAS income (expense)	2	378	(1,058)
Pension settlement charge	0	0	1,470
Retiree Medical and Life Insurance Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	(5)	(5)	(9)
Interest cost	(63)	(68)	(49)
Expected return on plan assets	107	103	136
Amortization of net actuarial (losses) gains	35	31	46
Amortization of prior service credits (costs)	(4)	(10)	(27)
Pension settlement charge	0	0	0
Non-service FAS income (expense)	75	56	106
Total FAS income (expense)	70	51	97
Pension settlement charge	$ 0	$ 0	$ 0

Postretirement Benefit Plans _2

Postretirement Benefit Plans - Reconciliation of Benefit Obligations, Plan Assets, and Unfunded or Funded Status (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in plan assets
Beginning balance at fair value	$ 24,515
Settlements		$ (414)
Ending balance at fair value	24,092	24,515
Increased (decrease) in benefit obligation		765
Settlement payments		414
Qualified Defined Benefit Pension Plans
Change in benefit obligation
Beginning balance	28,959	28,698
Service cost	60	65	$ 87
Interest cost	1,398	1,459	1,289
Actuarial losses (gains)	(1,556)	731
Settlements	0	(414)
Plan amendments	2	6
Benefits paid	(1,664)	(1,586)
Medicare Part D subsidy	0	0
Participants’ contributions	0	0
Ending balance	27,199	28,959	28,698
Change in plan assets
Beginning balance at fair value	22,800	23,228
Actual return on plan assets	288	1,572
Settlements	0	(414)
Benefits paid	(1,664)	(1,586)
Company contributions	990	0
Medicare Part D subsidy	0	0
Participants’ contributions	0	0
Ending balance at fair value	22,414	22,800	$ 23,228
Net (unfunded) funded status of the plans	$ (4,785)	$ (6,159)
Weighted average discount rate	5.625%	5%	5.25%
Increased (decrease) in benefit obligation	$ (1,800)
Net losses due to changes in demographic data and assumptions	250
Settlement payments	$ 0	$ 414
Actual return on plan assets (percent)	1%
Retiree Medical and Life Insurance Plans
Change in benefit obligation
Beginning balance	$ 1,328	1,359
Service cost	5	5	$ 9
Interest cost	63	68	49
Actuarial losses (gains)	(158)	27
Settlements	0	0
Plan amendments	0	1
Benefits paid	(178)	(192)
Medicare Part D subsidy	2	1
Participants’ contributions	52	59
Ending balance	1,114	1,328	1,359
Change in plan assets
Beginning balance at fair value	1,715	1,656
Actual return on plan assets	86	190
Settlements	0	0
Benefits paid	(178)	(192)
Company contributions	1	1
Medicare Part D subsidy	2	1
Participants’ contributions	52	59
Ending balance at fair value	1,678	1,715	$ 1,656
Net (unfunded) funded status of the plans	$ 564	$ 387
Weighted average discount rate	5.50%	5%	5.25%
Settlement payments	$ 0	$ 0
Actual return on plan assets (percent)	1%	7%
Long-term rate of return assumption (percent)		6.50%

Postretirement Benefit Plans _3

Postretirement Benefit Plans - Amounts Recognized on Balance Sheets Related to Qualified Defined Benefit Pension Plans and Retiree Medical and Life Insurance Plans (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Accrued pension liabilities	$ (4,791)	$ (6,162)
Qualified Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Other noncurrent assets	6	3
Accrued pension liabilities	(4,791)	(6,162)
Net (unfunded) funded status of the plans	(4,785)	(6,159)
Retiree Medical and Life Insurance Plans
Defined Benefit Plan Disclosure [Line Items]
Other noncurrent assets	564	387
Accrued pension liabilities	0	0
Net (unfunded) funded status of the plans	$ 564	$ 387

Postretirement Benefit Plans _4

Postretirement Benefit Plans - Accumulated Other Comprehensive Income (Loss) Related to Qualified Defined Benefit Pension and Retiree Medical and Life Insurance Plans (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Qualified Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (losses) gains	$ (10,469)	$ (10,999)
Prior service (costs) credits	(164)	(15)
Total	(10,633)	(11,014)
Estimated tax	2,255	2,339
Net amount recognized in accumulated other comprehensive (loss)	(8,378)	(8,675)
Retiree Medical and Life Insurance Plans
Defined Benefit Plan Disclosure [Line Items]
Net actuarial (losses) gains	518	416
Prior service (costs) credits	2	(2)
Total	520	414
Estimated tax	(110)	(87)
Net amount recognized in accumulated other comprehensive (loss)	$ 410	$ 327

Postretirement Benefit Plans _5

Postretirement Benefit Plans - Amounts Recognized in Other Comprehensive Income (Loss) Related to Postretirement Benefit Plans, Net of Tax (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Actuarial gains and (losses) - Incurred but Not Yet Recognized in Net Periodic Benefit Cost	$ 342	$ (684)	$ 2,022
Net prior service credit and (cost) - Incurred but Not Yet Recognized in Net Periodic Benefit Cost	(2)	(5)	(149)
Incurred but Not Yet Recognized in FAS Expense	340	(689)	1,873
Actuarial gains and (losses) - Recognition of Previously Deferred Amounts	(188)	(116)	(1,493)
Net prior service credit and (cost) - Recognition of Previously Deferred Amounts	112	265	268
Recognition of Previously Deferred Amounts	(76)	149	(1,225)
Qualified defined benefit pension plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Actuarial gains and (losses) - Incurred but Not Yet Recognized in Net Periodic Benefit Cost	211	(698)	1,952
Net prior service credit and (cost) - Incurred but Not Yet Recognized in Net Periodic Benefit Cost	(2)	(5)	(146)
Actuarial gains and (losses) - Recognition of Previously Deferred Amounts	(204)	(133)	(1,490)
Net prior service credit and (cost) - Recognition of Previously Deferred Amounts	116	274	283
Retiree medical and life insurance plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Actuarial gains and (losses) - Incurred but Not Yet Recognized in Net Periodic Benefit Cost	108	47	(95)
Net prior service credit and (cost) - Incurred but Not Yet Recognized in Net Periodic Benefit Cost	0	(1)	(1)
Actuarial gains and (losses) - Recognition of Previously Deferred Amounts	28	25	36
Net prior service credit and (cost) - Recognition of Previously Deferred Amounts	(3)	(8)	(22)
Other plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Actuarial gains and (losses) - Incurred but Not Yet Recognized in Net Periodic Benefit Cost	23	(33)	165
Net prior service credit and (cost) - Incurred but Not Yet Recognized in Net Periodic Benefit Cost	0	1	(2)
Actuarial gains and (losses) - Recognition of Previously Deferred Amounts	(12)	(8)	(39)
Net prior service credit and (cost) - Recognition of Previously Deferred Amounts	$ (1)	$ (1)	$ 7

Postretirement Benefit Plans _6

Postretirement Benefit Plans - Actuarial Assumptions Used to Determine Net Periodic Benefit Cost (Detail)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Qualified Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	5.625%	5%	5.25%
Expected long-term rate of return on assets	6.50%	6.50%	6.50%
Retiree Medical and Life Insurance Plans
Defined Benefit Plan Disclosure [Line Items]
Weighted average discount rate	5.50%	5%	5.25%
Expected long-term rate of return on assets	6.50%	6.50%	6.50%
Health care trend rate assumed for next year	8.50%	8%	7.25%
Ultimate health care trend rate	4.50%	4.50%	4.50%

Postretirement Benefit Plans _7

Postretirement Benefit Plans - Asset Allocations of Postretirement Benefit Plans (Detail)	Dec. 31, 2024
Minimum \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	0%
Minimum \| Global Equity
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	10%
Minimum \| Fixed income
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	10%
Minimum \| Private equity funds
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	500%
Minimum \| Real estate funds
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	0%
Minimum \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	0%
Minimum \| Commodities
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	0%
Maximum \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	20%
Maximum \| Global Equity
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	65%
Maximum \| Fixed income
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	60%
Maximum \| Private equity funds
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	30%
Maximum \| Real estate funds
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	20%
Maximum \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	20%
Maximum \| Commodities
Defined Benefit Plan Disclosure [Line Items]
Asset Allocation Ranges	10%

Postretirement Benefit Plans _8

Postretirement Benefit Plans - Qualified Defined Benefit Pension Plans and Retiree Medical and Life Insurance Plans by Asset Category (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	$ 24,092	$ 24,515
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	2,425	1,789
U.S. equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	3,232	2,802
International equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	1,827	1,875
Commingled equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	382	423
Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	4,159	4,510
U.S. Government securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	2,483	2,376
U.S. Government-sponsored enterprise securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	1,134	1,120
Interest rate swaps, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	(1,878)	(1,284)
Other fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	2,050	1,949
Other fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	552	826
Private equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	4,863	4,951
Real estate funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	3,088	3,267
Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	1,028	847
Loan, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	(473)	(497)
(Payables) Receivables, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	(780)	(439)
Level 1, 2 and 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	15,814	15,560
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	7,623	6,583
Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	2,425	1,789
Level 1 \| U.S. equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	3,158	2,715
Level 1 \| International equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	1,810	1,853
Level 1 \| Commingled equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	170	163
Level 1 \| Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 1 \| U.S. Government securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 1 \| U.S. Government-sponsored enterprise securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 1 \| Interest rate swaps, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Level 1 \| Other fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	60	63
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	6,932	7,700
Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 2 \| U.S. equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	8
Level 2 \| International equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 2 \| Commingled equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	212	260
Level 2 \| Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	4,099	4,495
Level 2 \| U.S. Government securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	2,483	2,376
Level 2 \| U.S. Government-sponsored enterprise securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	1,134	1,120
Level 2 \| Interest rate swaps, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	(1,878)	(1,284)
Level 2 \| Other fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	882	725
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	1,259	1,277
Level 3 \| Buy-In Contract
Defined Benefit Plan Disclosure [Line Items]
Plan with benefit obligations equal to plan assets	1,000	1,100
Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 3 \| U.S. equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	74	79
Level 3 \| International equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	17	22
Level 3 \| Commingled equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 3 \| Corporate debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	60	15
Level 3 \| U.S. Government securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 3 \| U.S. Government-sponsored enterprise securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	0	0
Level 3 \| Interest rate swaps, net
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year
Level 3 \| Other fixed income investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	1,108	1,161
NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at end of year	$ 9,531	$ 9,891

Postretirement Benefit Plans _9

Postretirement Benefit Plans - Additional Information (Detail) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Assets set aside expected to be used to pay obligations of defined benefit pension plans and retiree medical and life insurance plans	$ 24,092,000,000	$ 24,515,000,000
Contributions made to defined contribution plans	$ 1,200,000,000	$ 1,200,000,000
Shares of our stock held in defined contribution plans we sponsor (in shares)	24.9	26.6
Nonqualified Defined Benefit Pension Plans and Other Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Gross benefit obligation	$ 905,000,000	$ 1,000,000,000
Assets set aside expected to be used to pay obligations of defined benefit pension plans and retiree medical and life insurance plans	658,000,000	615,000,000
Net actuarial (losses) gains	(303,000,000)	(347,000,000)
Benefit plan expense	62,000,000	64,000,000	$ 81,000,000
Qualified Defined Benefit Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Cash contributions	990,000,000
Expected required contributions to our qualified defined benefit pension plans in next fiscal year	0
Gross benefit obligation	27,199,000,000	28,959,000,000	28,698,000,000
Assets set aside expected to be used to pay obligations of defined benefit pension plans and retiree medical and life insurance plans	22,414,000,000	22,800,000,000	$ 23,228,000,000
Net actuarial (losses) gains	10,469,000,000	10,999,000,000
Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Assets set aside expected to be used to pay obligations of defined benefit pension plans and retiree medical and life insurance plans	$ 1,028,000,000	$ 847,000,000
Minimum \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value, investments, entities that calculate net asset value per share, investment redemption, notice period	1 month
Commingled equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value, investments, entities that calculate net asset value per share, investment redemption, notice period	90 days
Private equity funds \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Fair value, investments, entities that calculate net asset value per share, investment redemption, notice period	8 years
Private equity funds \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Fair value, investments, entities that calculate net asset value per share, investment redemption, notice period	12 years
Real estate funds \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Fair value, investments, entities that calculate net asset value per share, investment redemption, notice period	8 years
Real estate funds \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Fair value, investments, entities that calculate net asset value per share, investment redemption, notice period	10 years

Postretirement Benefit Plans_10

Postretirement Benefit Plans - Estimated Future Benefit Payments (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Qualified Defined Benefit Pension Plans
Expected Future Benefit Payment [Abstract]
2025	$ 1,800
2026	1,860
2027	1,910
2028	1,960
2029	1,990
2030 – 2034	9,990
Retiree Medical and Life Insurance Plans
Expected Future Benefit Payment [Abstract]
2025	110
2026	110
2027	110
2028	100
2029	100
2030 – 2034	$ 440

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2024	Sep. 29, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 24, 2023	Jun. 25, 2023	Mar. 26, 2023	Dec. 31, 2022	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Shareholders Equity [Line Items]
Common stock, shares authorized (in shares)	1,500,000,000				1,500,000,000								1,500,000,000	1,500,000,000
Preferred stock, shares authorized (in shares)	50,000,000				50,000,000								50,000,000	50,000,000
Common stock, shares issued and outstanding (in shares)	235,000,000				242,000,000								235,000,000	242,000,000
Common stock, shares outstanding (in shares)	234,000,000				240,000,000								234,000,000	240,000,000
Preferred stock, shares issued (in shares)	0				0								0	0
Preferred stock, shares outstanding (in shares)	0				0								0	0
Cash paid for repurchases of common stock													$ 3,700,000,000	$ 6,000,000,000	$ 7,900,000,000
Common stock, par value (in dollars per share)	$ 1				$ 1								$ 1	$ 1
Dividends paid													$ 3,059,000,000	$ 3,056,000,000	$ 3,016,000,000
Common stock dividends per share paid (in dollars per share)	$ 3.30	$ 3.15	$ 3.15	$ 3.15	$ 3.15	$ 3	$ 3	$ 3	$ 3	$ 2.80	$ 2.80	$ 2.80	$ 12.75	$ 12.15	$ 11.40
Accelerated Share Repurchase Agreement
Shareholders Equity [Line Items]
Stock repurchased (in shares)													7,500,000	13,400,000
Cash paid for repurchases of common stock								$ 0					$ 3,700,000,000	$ 6,000,000,000
Stock repurchased and retired during period, shares (in shares)								1,500,000
Remaining amount authorized (in shares)	$ 9,300,000,000												9,300,000,000
Stock repurchase program, authorized amount, increase amount	$ 3,000,000,000												$ 3,000,000,000
Common stock, par value (in dollars per share)	$ 1												$ 1

Stockholders' Equity - Changes

Stockholders' Equity - Changes in Balance of Accumulated Other Comprehensive Loss, Net of Income Taxes (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive (loss) income before reclassifications	$ 236	$ (666)	$ 1,714
Amounts reclassified from AOCL
Amounts reclassified from AOCL	115	(114)	1,269
Other comprehensive income, net of tax	351	(780)	2,983
Non-cash, non-operating pension settlement charge			1,500
Non-cash, non-operating pension settlement charge, after tax			$ 1,200
Non-cash, non-operating pension settlement charge, per share, after tax (in dollars per share)			$ 4.33
Postretirement Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(8,704)	(7,866)	$ (10,964)
Other comprehensive (loss) income before reclassifications	340	(689)	1,873
Amounts reclassified from AOCL
Amounts reclassified from AOCL	76	(149)	1,225
Other comprehensive income, net of tax	416	(838)	3,098
Ending balance	(8,288)	(8,704)	(7,866)
AOCI related to postretirement benefit plans, tax benefit	2,200	2,300	2,100
Other, net
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(99)	(157)	(42)
Other comprehensive (loss) income before reclassifications	(104)	23	(159)
Amounts reclassified from AOCL
Amounts reclassified from AOCL	39	35	44
Other comprehensive income, net of tax	(65)	58	(115)
Ending balance	(164)	(99)	(157)
AOCL
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(8,803)	(8,023)	(11,006)
Amounts reclassified from AOCL
Other comprehensive income, net of tax	351	(780)	2,983
Ending balance	(8,452)	(8,803)	(8,023)
Recognition of settlement loss
Amounts reclassified from AOCL
Amounts reclassified from AOCL			1,156
Recognition of net actuarial losses
Amounts reclassified from AOCL
Amounts reclassified from AOCL	188	116	337
Amortization of net prior service credits
Amounts reclassified from AOCL
Amounts reclassified from AOCL	(112)	(265)	(268)
Other
Amounts reclassified from AOCL
Amounts reclassified from AOCL	$ 39	$ 35	$ 44

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	7,700
Shares reserved for issuance (in shares)	5,300
Number of years over which equity awards vest	1 year
Number of years over which equity awards expire	10 years
Share-based compensation, net of tax	$ 219	$ 209	$ 188
Unrecognized compensation cost	$ 235
Period over which unrecognized compensation costs are expected to be recognized (years)	1 year 7 months 6 days
Realized tax benefits from stock-based compensation activities	$ 67	78	124
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years over which equity awards vest	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years over which equity awards vest	3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years over which equity awards vest	3 years
Number of stock, granted (in shares)	613
Average grant date fair value per unit (in dollars per share)	$ 428.43
Restricted Stock Units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years over which equity awards vest	1 year
Restricted Stock Units (RSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years over which equity awards vest	3 years
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from exercise of stock options	$ 0	0	8
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years over which equity awards vest	3 years
Number of stock, granted (in shares)	100
Performance Stock Units (PSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of shares that can be earned from stock awards, as a percentage of the target award	0%
Performance Stock Units (PSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of shares that can be earned from stock awards, as a percentage of the target award	200%
Performance Stock Units (PSUs) \| Remaining Half Of PSUs Granted In Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average grant date fair value per unit (in dollars per share)	$ 426.70
Performance Stock Units (PSUs) \| Remaining PSUs Granted In Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average grant date fair value per unit (in dollars per share)	$ 417.72
Unallocated items
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intangible asset amortization expense	$ 277	$ 265	$ 238

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Based Compensation Activity Related to Nonvested RSUs (Detail) - Restricted Stock Units (RSUs) shares in Thousands	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Number of RSUs
Nonvested, beginning balance (in shares) \| shares	922
Granted (in shares) \| shares	613
Vested (in shares) \| shares	(505)
Forfeited (in shares) \| shares	(48)
Nonvested, ending balance (in shares) \| shares	982
Weighted Average Grant-Date Fair Value Per Share
Nonvested beginning balance (in dollars per share) \| $ / shares	$ 409.17
Granted (in dollars per share) \| $ / shares	428.43
Vested (in dollars per share) \| $ / shares	381.71
Forfeited (in dollars per share) \| $ / shares	435.75
Nonvested ending balance (in dollars per share) \| $ / shares	$ 434.01

Legal Proceedings, Commitment_2

Legal Proceedings, Commitments and Contingencies (Detail) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
	Apr. 24, 2009	Dec. 31, 2024	Sep. 29, 2024	Dec. 31, 2024	Dec. 31, 2023	Apr. 22, 2024
Loss Contingencies [Line Items]
Liabilities recorded relative to environmental matters		$ 677		$ 677	$ 680
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]		Other noncurrent liabilities		Other noncurrent liabilities	Other noncurrent liabilities
Environmental costs eligible for future recovery		$ 619		$ 619	$ 613
Environmental costs eligible for future recovery				20 years
Outstanding letters of credit, surety bonds, and third-party guarantees		2,700		$ 2,700	2,900
Third-party guarantees		351		$ 351	$ 1,000
Guarantees of contractual performance of joint ventures (as percent)				30%	75%
N.Y. Metropolitan Transportation Authority
Loss Contingencies [Line Items]
Contract value	$ 323
Contract payments received to date	241
Damages sought by plaintiff	190
Claims for monetary damages against the plaintiff	$ 95
Armed Services Board of Contract Appeals \| Pending Litigation
Loss Contingencies [Line Items]
Current estimated losses						$ 132
Sales and operating profit recognized		70	$ 85
Loss contingency, receivable		$ 155

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured and Recorded at Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets
Derivatives	$ 9	$ 32
Liabilities
Derivatives	196	200
Mutual funds
Assets
Fair value of investments measured on recurring basis	1,072	1,025
U.S. Government securities
Assets
Fair value of investments measured on recurring basis	116	119
Other securities
Assets
Fair value of investments measured on recurring basis	645	679
Level 1
Assets
Derivatives	0	0
Liabilities
Derivatives	0	0
Level 1 \| Mutual funds
Assets
Fair value of investments measured on recurring basis	1,072	1,025
Level 1 \| U.S. Government securities
Assets
Fair value of investments measured on recurring basis	0	0
Level 1 \| Other securities
Assets
Fair value of investments measured on recurring basis	342	333
Level 2
Assets
Derivatives	9	32
Liabilities
Derivatives	196	200
Level 2 \| Mutual funds
Assets
Fair value of investments measured on recurring basis	0	0
Level 2 \| U.S. Government securities
Assets
Fair value of investments measured on recurring basis	116	119
Level 2 \| Other securities
Assets
Fair value of investments measured on recurring basis	303	301
Level 3
Assets
Derivatives	0	0
Liabilities
Derivatives	0	0
Level 3 \| Mutual funds
Assets
Fair value of investments measured on recurring basis	0	0
Level 3 \| U.S. Government securities
Assets
Fair value of investments measured on recurring basis	0	0
Level 3 \| Other securities
Assets
Fair value of investments measured on recurring basis	$ 0	$ 45

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of trading securities	$ 1,800	$ 1,800
Net gains (losses) on marketable securities	170	240
Outstanding principal amount of debt instruments	21,557	18,723
Unamortized discounts and issuance costs	1,287	1,264
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated fair values of debt instruments	20,200	18,500
Interest rate swaps \| Designated as hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate notional amount of derivatives	1,300	1,300
Foreign currency contracts \| Designated as hedges
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate notional amount of derivatives	$ 7,500	$ 6,500

Impairment and Severance Char_2

Impairment and Severance Charges (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Impairment and severance charges	$ 87	$ 92	$ 100
Severance and restructuring costs, after-tax	$ 69	$ 73	$ 79
Severance and restructuring costs, per share, after-tax (in dollars per share)	$ 0.29	$ 0.30	$ 0.31