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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Change in Accounting Estimate
The following table presents the effect of aggregate net EAC adjustments:

Year Ended December 31
$ in millions, except per share data
2019
 
2018
 
2017
Revenue
$
538

 
$
631

 
$
374

Operating income
480

 
577

 
360

Net earnings(1)
379

 
456

 
234

Diluted earnings per share(1)
2.23

 
2.61

 
1.33

(1) 
Based on a 21% federal statutory tax rate for the years ended December 31, 2019 and 2018 and a 35% federal statutory tax rate for the year ended December 31, 2017.
Contract with Customer, Asset and Liability
Net contract assets are as follows:
$ in millions
December 31,
2019
 
December 31,
2018
$ Change
% Change
Unbilled receivables, net
$
5,334

 
$
5,026

$
308

6
 %
Advance payments and amounts in excess of costs incurred
(2,237
)
 
(1,917
)
(320
)
17
 %
Net contract assets
$
3,097

 
$
3,109

$
(12
)
—
 %
Property, Plant and Equipment Major classes of property, plant and equipment and their useful lives are as follows:
 
 
 
 
December 31
Useful life in years, $ in millions
 
Useful Life
 
2019
 
2018
Land and land improvements
 
   Up to 40(1)
 
$
619

 
$
636

Buildings and improvements
 
Up to 45
 
2,575

 
2,139

Machinery and other equipment
 
Up to 20
 
6,997

 
6,618

Capitalized software costs
 
3-5
 
606

 
603

Leasehold improvements
 
Length of Lease(2)
 
1,965

 
1,745

Property, plant and equipment, at cost
 
 
 
12,762

 
11,741

Accumulated depreciation
 
 
 
(5,850
)
 
(5,369
)
Property, plant and equipment, net
 
 
 
$
6,912

 
$
6,372


(1) 
Land is not a depreciable asset.
(2) 
Leasehold improvements are depreciated over the shorter of the useful life of the asset or the length of the lease.
Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss are as follows:
 
 
December 31
$ in millions
 
2019
 
2018
Unamortized prior service credit, net of tax expense of $17 for 2019 and $32 for 2018
 
$
51

 
$
98

Cumulative translation adjustment
 
(147
)
 
(144
)
Other, net
 
(1
)
 
(6
)
Total accumulated other comprehensive loss
 
$
(97
)
 
$
(52
)