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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net earnings $ 3,229 $ 2,869 $ 2,043
Adjustments to reconcile to net cash provided by operating activities:      
Depreciation and amortization 800 475 456
Mark-to-market pension and OPEB Benefit 655 (536) 950
Stock-based compensation 86 94 93
Deferred income taxes 234 985 (60)
Changes in assets and liabilities:      
Accounts receivable, net 202 (209) 46
Unbilled receivables, net (297) (422) (211)
Inventoried costs, net (37) 25 (53)
Prepaid expenses and other assets (56) (92) (117)
Accounts payable and other liabilities 381 570 18
Income taxes payable, net (258) (157) 148
Retiree benefits (1,083) (946) (375)
Other, net (29) (43) (125)
Net cash provided by operating activities 3,827 2,613 2,813
Investing activities      
Acquisition of Orbital ATK, net of cash acquired (7,657) 0 0
Capital expenditures (1,249) (928) (920)
Other investing activities, net 28 39 115
Net cash used in investing activities (8,878) (889) (805)
Financing activities      
Payments of long-term debt (2,276) 0 (321)
Net proceeds from issuance of long-term debt 0 8,245 749
Net (payments to) proceeds from credit facilities (320) (13) 135
Net borrowings on commercial paper 198 0 0
Common stock repurchases (1,263) (393) (1,547)
Cash dividends paid (821) (689) (640)
Payments of employee taxes withheld from share-based awards (85) (92) (153)
Other financing activities, net (28) (98) (9)
Net cash provided by (used in) financing activities (4,595) 6,960 (1,786)
(Decrease) increase in cash and cash equivalents (9,646) 8,684 222
Cash and cash equivalents, beginning of year 11,225 2,541 2,319
Cash and cash equivalents, end of year $ 1,579 $ 11,225 $ 2,541