| Summary of Financial Information For Each Business Segment |
Summary operating results for each of our business segments were as
follows (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Quarters Ended |
|
|
Six Months Ended |
|
|
|
|
June 26,
2016
|
|
|
June 28,
2015
|
|
|
June 26,
2016
|
|
|
June 28,
2015
|
|
|
Net sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aeronautics
|
|
$ |
4,375 |
|
|
$ |
4,131 |
|
|
$ |
8,174 |
|
|
$ |
7,265 |
|
|
Information Systems & Global Solutions
|
|
|
1,337 |
|
|
|
1,408 |
|
|
|
2,671 |
|
|
|
2,798 |
|
|
Missiles and Fire Control
|
|
|
1,680 |
|
|
|
1,649 |
|
|
|
3,114 |
|
|
|
3,032 |
|
|
Mission Systems and Training
|
|
|
3,303 |
|
|
|
2,165 |
|
|
|
6,307 |
|
|
|
4,144 |
|
|
Space Systems
|
|
|
2,219 |
|
|
|
2,290 |
|
|
|
4,350 |
|
|
|
4,515 |
|
|
Total net sales
|
|
$ |
12,914 |
|
|
$ |
11,643 |
|
|
$ |
24,616 |
|
|
$ |
21,754 |
|
|
|
|
|
|
Operating profit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aeronautics
|
|
$ |
478 |
|
|
$ |
444 |
|
|
$ |
898 |
|
|
$ |
815 |
|
|
Information Systems & Global Solutions
|
|
|
151 |
|
|
|
107 |
|
|
|
260 |
|
|
|
252 |
|
|
Missiles and Fire Control
|
|
|
253 |
|
|
|
293 |
|
|
|
474 |
|
|
|
579 |
|
|
Mission Systems and Training
|
|
|
202 |
|
|
|
262 |
|
|
|
431 |
|
|
|
442 |
|
|
Space Systems
|
|
|
340 |
|
|
|
294 |
|
|
|
584 |
|
|
|
618 |
|
|
Total business segment operating profit
|
|
|
1,424 |
|
|
|
1,400 |
|
|
|
2,647 |
|
|
|
2,706 |
|
|
Unallocated items
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FAS/CAS pension adjustment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FAS pension expense
|
|
|
(254) |
|
|
|
(284) |
|
|
|
(508) |
|
|
|
(568) |
|
|
Less: CAS pension cost
|
|
|
497 |
|
|
|
404 |
|
|
|
997 |
|
|
|
807 |
|
|
FAS/CAS pension adjustment
|
|
|
243 |
|
|
|
120 |
|
|
|
489 |
|
|
|
239 |
|
|
Stock-based compensation
|
|
|
(53) |
|
|
|
(49) |
|
|
|
(97) |
|
|
|
(89) |
|
|
Severance charges
|
|
|
— |
|
|
|
— |
|
|
|
(99) |
|
|
|
— |
|
|
Other, net
|
|
|
(48) |
|
|
|
(26) |
|
|
|
(77) |
|
|
|
(55) |
|
|
Total unallocated items
|
|
|
142 |
|
|
|
45 |
|
|
|
216 |
|
|
|
95 |
|
|
Total consolidated operating profit
|
|
$ |
1,566 |
|
|
$ |
1,445 |
|
|
$ |
2,863 |
|
|
$ |
2,801 |
|
|
|
|
|
|
Intersegment sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aeronautics
|
|
$ |
39 |
|
|
$ |
26 |
|
|
$ |
74 |
|
|
$ |
46 |
|
|
Information Systems & Global Solutions
|
|
|
29 |
|
|
|
3 |
|
|
|
53 |
|
|
|
5 |
|
|
Missiles and Fire Control
|
|
|
69 |
|
|
|
81 |
|
|
|
144 |
|
|
|
155 |
|
|
Mission Systems and Training
|
|
|
462 |
|
|
|
384 |
|
|
|
907 |
|
|
|
703 |
|
|
Space Systems
|
|
|
36 |
|
|
|
35 |
|
|
|
69 |
|
|
|
68 |
|
|
Total intersegment sales
|
|
$ |
635 |
|
|
$ |
529 |
|
|
$ |
1,247 |
|
|
$ |
977 |
|
|
| Selected Financial Data By Business Segment |
Total assets for each of our business segments were as follows (in
millions):
|
|
|
|
|
|
|
|
|
|
|
|
June 26,
2016
|
|
|
December 31,
2015 |
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Aeronautics
|
|
$ |
7,768 |
|
|
$ |
6,618 |
|
|
Information Systems & Global Solutions
|
|
|
4,103 |
|
|
|
4,206 |
|
|
Missiles and Fire Control
|
|
|
4,003 |
|
|
|
4,027 |
|
|
Mission Systems and Training
|
|
|
19,008 |
|
|
|
19,187 |
|
|
Space Systems
|
|
|
5,056 |
|
|
|
4,861 |
|
|
Total business segment assets
|
|
|
39,938 |
|
|
|
38,899 |
|
|
Corporate assets (a)
|
|
|
10,470 |
|
|
|
10,229 |
|
|
Total assets
|
|
$ |
50,408 |
|
|
$ |
49,128 |
|
| (a) |
Corporate assets primarily include
cash and cash equivalents, deferred income taxes, environmental
receivables and investments held in a separate trust to fund
certain of our non-qualified deferred compensation plans. |
|