Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

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	2023		2022		2021
Revenue	$	298	$	447	$	568
Operating income	84		360		527
Net earnings(1)	66		284		416
Diluted earnings per share(1)	0.43		1.83		2.59

(1)Based on a 21% federal statutory tax rate.

Contract with Customer, Asset and Liability

Net contract assets are as follows:

$ in millions	December 31, 2023		December 31, 2022		$ Change		% Change
Unbilled receivables, net	$	5,693	$	5,983	$	(290)	(5)	%
Advance payments and amounts in excess of costs incurred	(4,193)		(3,609)		(584)		16	%
Net contract assets	$	1,500	$	2,374	$	(874)	(37)	%

Property, Plant and Equipment

Major classes of PP&E and their useful lives are as follows:

		December 31
Useful life in years, $ in millions	Useful Life	2023		2022
Land and land improvements	Up to 40(1)	$	742	$	741
Buildings and improvements	Up to 45	3,605		3,272
Machinery and other equipment	Up to 20	9,641		8,774
Capitalized software costs	3-5	553		524
Leasehold improvements	Lease Term(2)	3,076		2,747
Property, plant and equipment, at cost		17,617		16,058
Accumulated depreciation		(7,964)		(7,258)
Property, plant and equipment, net		$	9,653	$	8,800

(1)Land is not a depreciable asset.

(2)Leasehold improvements are depreciated over the shorter of the useful life of the asset or lease term.

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of tax, are as follows:

	December 31
$ in millions	2023		2022
Cumulative translation adjustment	$	(138)	$	(161)
Other, net	10		8
Total accumulated other comprehensive loss	$	(128)	$	(153)