Recast 2017 Financial Information (Tables)

3 Months Ended

Mar. 31, 2018

Error Corrections and Prior Period Adjustments Restatement [Line Items]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

CONDENSED CONSOLIDATED STATEMENT OF EARNINGS AND COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended March 31, 2017
	As Reported			Effect of the Adoption of							As Adjusted
$ in millions, except per share amounts					ASC Topic 606			ASU 2017-07
Sales
Product	$	3,834			$	163		$	—		$	3,997
Service	2,433				(20		)	—			2,413
Total sales	6,267				143			—			6,410
Operating costs and expenses
Product	2,871				121			(9		)	2,983
Service	1,887				(14		)	(6		)	1,867
General and administrative expenses	677				21			—			698
Operating income	832				15			15			862
Other (expense) income
Interest expense	(75		)		—			—			(75		)
Net FAS (non-service) pension benefit (expense)	—				—			(18		)	(18		)
Other, net	16				—			3			19
Earnings before income taxes	773				15			—			788
Federal and foreign income tax expense	133				5			—			138
Net earnings	$	640			$	10		$	—		$	650
Basic earnings per share	$	3.66			$	0.06		$	—		$	3.72
Weighted-average common shares outstanding, in millions	174.8				—			—			174.8
Diluted earnings per share	$	3.63			$	0.06		$	—		$	3.69
Weighted-average diluted shares outstanding, in millions	176.1				—			—			176.1
Net earnings (from above)	$	640			$	10		$	—		$	650
Other comprehensive income
Change in unamortized benefit plan costs, net of tax	99				—			—			99
Change in cumulative translation adjustment	4				—			—			4
Other, net	2				—			—			2
Other comprehensive income, net of tax	105				—			—			105
Comprehensive income	$	745			$	10		$	—		$	755

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(Unaudited)

	December 31, 2017
	As Reported			Effect of the Adoption of						As Adjusted
$ in millions					ASC Topic 606			ASU 2017-07
Assets
Cash and cash equivalents	$	11,225			$	—		$	—	$	11,225
Accounts receivable, net	829				225			—		1,054
Unbilled receivables, net	3,147				318			—		3,465
Inventoried costs, net	780				(382		)	—		398
Prepaid expenses and other current assets	368				77			—		445
Total current assets	16,349				238			—		16,587
Property, plant and equipment, net of accumulated depreciation of $5,066 for 2017	4,225				—			—		4,225
Goodwill	12,455				—			—		12,455
Deferred tax assets	475				(28		)	—		447
Other non-current assets	1,413				1			—		1,414
Total assets	$	34,917			$	211		$	—	$	35,128
Liabilities
Trade accounts payable	$	1,661			$	—		$	—	$	1,661
Accrued employee compensation	1,382				—			—		1,382
Advance payments and amounts in excess of costs incurred	1,617				144			—		1,761
Other current liabilities	2,305				(17		)	—		2,288
Total current liabilities	6,965				127			—		7,092
Long-term debt, net of current portion of $867 for 2017	14,399				—			—		14,399
Pension and other post-retirement benefit plan liabilities	5,511				—			—		5,511
Other non-current liabilities	994				—			—		994
Total liabilities	27,869				127			—		27,996
Commitments and contingencies (Note 7)
Shareholders’ equity
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding	—				—			—		—
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2017—174,085,619	174				—			—		174
Paid-in capital	44				—			—		44
Retained earnings	11,548				84			—		11,632
Accumulated other comprehensive loss	(4,718		)		—			—		(4,718		)
Total shareholders’ equity	7,048				84			—		7,132
Total liabilities and shareholders’ equity	$	34,917			$	211		$	—	$	35,128