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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net earnings $ 2,248 $ 3,229 $ 2,869
Adjustments to reconcile to net cash provided by operating activities:      
Depreciation and amortization 1,018 800 475
Mark-to-market pension and OPB expense (benefit) 1,800 655 (536)
Non-cash lease expense 247 0 0
Stock-based compensation 127 86 94
Deferred income taxes (509) 234 985
Changes in assets and liabilities:      
Accounts receivable, net 122 202 (209)
Unbilled receivables, net (335) (297) (422)
Inventoried costs, net (135) (37) 25
Prepaid expenses and other assets (78) (56) (92)
Accounts payable and other liabilities 617 381 570
Income taxes payable, net (63) (258) (157)
Retiree benefits (703) (1,083) (946)
Other, net (59) (29) (43)
Net cash provided by operating activities 4,297 3,827 2,613
Investing activities      
Acquisition of Orbital ATK, net of cash acquired 0 (7,657) 0
Capital expenditures (1,264) (1,249) (928)
Other investing activities, net 57 28 39
Net cash used in investing activities (1,207) (8,878) (889)
Financing activities      
Payments of long-term debt (500) (2,276) 0
Net proceeds from issuance of long-term debt 0 0 8,245
Payments to credit facilities (31) (320) (13)
Net (repayments of) borrowings on commercial paper (198) 198 0
Common stock repurchases (744) (1,263) (393)
Cash dividends paid (880) (821) (689)
Payments of employee taxes withheld from share-based awards (65) (85) (92)
Other financing activities, net (6) (28) (98)
Net cash (used in) provided by financing activities (2,424) (4,595) 6,960
Increase (decrease) in cash and cash equivalents 666 (9,646) 8,684
Cash and cash equivalents, beginning of year 1,579 11,225 2,541
Cash and cash equivalents, end of year $ 2,245 $ 1,579 $ 11,225