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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net earnings $ 4,182 $ 4,174 $ 2,056
Adjustments to reconcile to net cash provided by operating activities:      
Depreciation and amortization 1,472 1,370 1,338
Mark-to-market pension and OPB (benefit) expense (527) (443) 422
Stock-based compensation 119 101 87
Deferred income taxes 548 (582) (988)
B-21 loss provisions 477 0 1,559
Gain on sale of business (231) 0 0
Net periodic pension and OPB income (346) (438) (308)
Pension and OPB contributions (130) (129) (139)
Changes in assets and liabilities:      
Accounts receivable, net (108) 182 54
Unbilled receivables, net (754) (215) 247
Inventoried costs, net 97 (358) (220)
Prepaid expenses and other assets 8 35 (86)
Trade accounts payable (646) (485) 469
Advance payments and billings in excess of costs incurred (19) 123 (587)
Other liabilities 212 875 (401)
Income taxes payable, net (559) 1,143 (658)
Other operating activities 56 61 (8)
Net cash provided by operating activities 4,757 4,388 3,875
Investing activities      
Capital expenditures (1,450) (1,767) (1,775)
Proceeds from Sale, Maturity and Collection of Investments 0 0 197
Proceeds from Divestiture of Businesses 333 0 0
Other investing activities (38) 18 (4)
Net cash used in investing activities (1,155) (1,749) (1,582)
Financing activities      
Net proceeds from issuance of long-term debt 998 2,495 1,995
Payments of long-term debt (1,500) 0 (1,050)
Common stock repurchases (1,624) (2,514) (1,500)
Cash dividends paid (1,293) (1,186) (1,116)
Payments of employee taxes withheld from share-based awards (39) (58) (52)
Other financing activities (94) (132) (38)
Net cash used in financing activities (3,552) (1,395) (1,761)
Increase in cash and cash equivalents 50 1,244 532
Cash and cash equivalents, beginning of year 4,353 3,109 2,577
Cash and cash equivalents, end of period $ 4,403 $ 4,353 $ 3,109