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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
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 data202420232022
Revenue$396 $298 $447 
Operating income350 84 360 
Net earnings(1)
277 66 284 
Diluted earnings per share(1)
1.88 0.43 1.83 
(1)Based on a 21% federal statutory tax rate.
Contract with Customer, Asset and Liability
Net contract assets are as follows:
$ in millionsDecember 31, 2024December 31, 2023$ Change% Change
Unbilled receivables, net$5,908 $5,693 $215 4 %
Advance payments and amounts in excess of costs incurred(4,070)(4,193)123 (3)%
Net contract assets$1,838 $1,500 $338 23 %
Property, Plant and Equipment Major classes of PP&E and their useful lives are as follows:
 December 31
Useful life in years, $ in millionsUseful Life20242023
Land and land improvements
   Up to 40(1)
$782 $742 
Buildings and improvements
Up to 45
4,031 3,605 
Machinery and other equipment
Up to 20
10,389 9,641 
Capitalized software costs
3-5
779 553 
Leasehold improvements
Lease Term(2)
3,288 3,076 
Property, plant and equipment, at cost19,269 17,617 
Accumulated depreciation(8,733)(7,964)
Property, plant and equipment, net$10,536 $9,653 
(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 millions20242023
Cumulative translation adjustment$(140)$(138)
Other, net(12)10 
Total accumulated other comprehensive loss$(152)$(128)