Inventory (Tables)

12 Months Ended

Dec. 31, 2012

Inventories are summarized as follows:

		December 31,		December 31,
		2012		2011
Raw materials		$	250.3	$	236.9
Work-in-process			2,207.4		1,800.0
Finished goods			35.9		40.8
	Product inventory		2,493.6		2,077.7
Capitalized pre-production			524.6		553.2
Forward loss provision⁽¹⁾			(607.4)		-
	Total inventory, net	$	2,410.8	$	2,630.9

Summary Of Inventories By Platform [Text Block]

		December 31, 2012
		Inventory		Capitalized Pre-Production		Deferred Production		Non-Recurring		Forward Loss Provision		Total Inventory, net December 31, 2012
		Inventory		Capitalized Pre-Production		Deferred Production		Non-Recurring		Forward Loss Provision		Total Inventory, net December 31, 2012
B747	$	83.6	$	7.2	$	3.6	$	(0.7)	$	(11.5)	$	82.2
B787		225.2		189.5		595.1		26.6		(184.0)		852.4
Boeing - All other platforms⁽¹⁾		392.3		5.8		(67.6)		31.6		(6.5)		355.6
A350		133.2		56.8		177.4		51.3		(8.9)		409.8
Airbus - All other platforms		88.2		-		18.2		-		-		106.4
G280		83.3		5.5		98.3		-		(118.8)		68.3
G650		36.7		208.4		297.3		-		(162.5)		379.9
Rolls-Royce⁽²⁾		12.6		51.4		51.2		-		(115.2)		-
Sikorsky		-		-		-		4.7		-		4.7
Aftermarket		45.0		-		-		-		-		45.0
Other platforms⁽³⁾		102.2		-		0.3		4.0		-		106.5
Total	$	1,202.3	$	524.6	$	1,173.8	$	117.5	$	(607.4)	$	2,410.8

		December 31, 2011
		Inventory		Capitalized Pre-Production		Deferred Production		Non-Recurring		Total Inventory, net December 31, 2011		Cumulative Forward Loss Provision⁽⁵⁾
		Inventory		Capitalized Pre-Production		Deferred Production		Non-Recurring		Total Inventory, net December 31, 2011		Cumulative Forward Loss Provision⁽⁵⁾
B747	$	88.8	$	5.5	$	31.8	$	10.8	$	136.9	$	(18.3)
B787		210.3		210.5		533.2		17.1		971.1		-
Boeing - All other platforms		428.2		2.1		6.9		20.5		457.7		-
A350		96.6		36.2		-		41.4		174.2		(3.0)
Airbus - All other platforms		84.0		-		11.5		-		95.5		-
G280		42.9		-		37.2		-		80.1		(177.6)
G650		93.1		240.9		167.1		-		501.1		-
Rolls-Royce⁽⁴⁾		12.1		58.0		25.5		-		95.6		-
Sikorsky		-		-		-		17.5		17.5		(29.0)
Aftermarket		43.1		-		-		-		43.1		-
Other platforms⁽³⁾		56.3		-		-		1.8		58.1		-
Total	$	1,155.4	$	553.2	$	813.2	$	109.1	$	2,630.9	$	(227.9)

Forward loss provision of $8.0 recorded on the B767 program in the fourth quarter of 2012 exceeded the total inventory balance. The excess of the charge over program inventory is classified as a contract liability of $1.5 which will be reduced as additional inventory is generated. This contract liability is reported in other current liabilities. This liability will amortize into the forward loss category of inventory as inventory on the program increases.
Forward loss provision of $151.0 recorded in the third quarter of 2012 exceeded the total inventory balance. The excess of the charge over program inventory is classified as a contract liability of $35.8 which will be reduced as additional inventory is generated. This contract liability is reported in other current liabilities. This liability will amortize into the forward loss category of inventory as inventory on the program increases.
Includes over-applied and under-applied overhead.
Net of $58.0 reclassification of Rolls-Royce non-recurring inventory to pre-production, to conform to current year presentation.
Forward loss charges taken through December 31, 2011 were reflected within capitalized pre-production and inventory for the respective programs. The balances of each inventory classification are shown as the net amounts with the forward loss provisions shown only for purposes of comparability.

Capitalized Pre Production Included In Inventory Roll Forward [Text Block]

The following is a roll forward of the capitalized pre-production costs included in the inventory balance at December 31, 2012 and December 31, 2011:

		2012		2011⁽¹⁾
Balance, January 1	$	553.2	$	541.8
Charges to costs and expenses		(59.7)		(70.5)
Capitalized costs		31.1		81.9
Balance, December 31	$	524.6	$	553.2

_____________________

Net of $58.0 reclassification of Rolls-Royce non-recurring inventory to pre-production, to conform to current year presentation.

Deferred Production Included in Inventory Roll Forward

The following is a roll forward of the deferred production included in the inventory balance at December 31, 2012 and December 31, 2011:


		2012⁽¹⁾		2011
Balance, January 1	$	813.2	$	760.0
Charges to costs and expenses		(260.1)		(488.7)
Capitalized costs		617.6		542.1
Exchange rate		3.1		(0.2)
Balance, December 31	$	1,173.8	$	813.2

_____________________

Increases in deferred production are driven primarily by new programs.

Block And Orders Table [Text Block]

Significant amortization of capitalized pre-production and deferred production inventory will occur over the following contract blocks:

	Contract Block Quantity		Orders⁽¹⁾
	Contract Block Quantity		Orders⁽¹⁾
B747-8		56		67
B787		500		799
A350 XWB		400		582
G280		250		49
G650		350		95
Rolls-Royce		350		90

Contract Block Deliveries [Text Block]

Orders are from the published firm-order backlogs of Airbus and Boeing. For all other programs, orders represent purchase orders received from OEMs and are not reflective of OEM sales backlog. Orders reported are total block orders, including delivered units

Current block deliveries are as follows

		Current Block Deliveries
Model
B747-8		54
B787		99
A350 XWB		3
Business/Regional Jets⁽¹⁾		123

Excludes Hawker deliveries as the block closed in early 2012.

Contract block quantity is projected to fully absorb the balance of deferred production inventory. Capitalized pre-production and deferred production inventories are at risk to the extent that we do not achieve the orders in the forecasted blocks or if future actual costs exceed current projected estimates, as those categories of inventory are recoverable over future deliveries. In the case of capitalized pre-production this may be over multiple blocks. Should orders not materialize in future periods to fulfill the block, potential forward loss charges may be necessary to the extent the final delivered quantity does not absorb deferred inventory costs.