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Changes in Estimates
 9 Months Ended
Sep. 27, 2018
Changes in Estimates [Abstract]  
Change In Estimate [Text Block]
.  Changes in Estimates

The Company has a periodic forecasting process in which management assesses the progress and performance of the Company’s programs. This process requires management to review each program’s progress by evaluating the program schedule, changes to identified risks and opportunities, changes to estimated revenues and costs for the accounting contracts (and options if applicable), and any outstanding contract matters. Risks and opportunities include but are not limited to management’s judgment about the cost associated with the Company’s ability to achieve the schedule, technical requirements (e.g., a newly-developed product versus a mature product), and any other program requirements. Due to the span of years it may take to completely satisfy the performance obligations for the accounting contracts (and options, if any) and the scope and nature of the work required to be performed on those contracts, the estimation of total revenue and costs is subject to many variables and, accordingly, is subject to change based upon judgment. When adjustments in estimated total consideration or estimated total cost are required, any changes from prior estimates for fully satisfied performance obligations are recognized in the current period as a cumulative catch-up adjustment for the inception-to-date effect of such changes. Cumulative catch-up adjustments are driven by several factors including production efficiencies, assumed rate of production, the rate of overhead absorption, changes to scope of work, and contract modifications. For 2017, the changes in estimates apply to contract blocks under legacy GAAP under the units of delivery method. For 2018, cumulative catch-up adjustments are primarily related to changes in measure of progress for contracts with performance obligations that are satisfied over time. For 2018, forward losses recorded relate primarily to the impact of the adoption of ASU 2017-07 related to pension, offset by favorable performance on cost initiatives.

Changes in estimates are summarized below:

 
 
For the Three Months Ended
 
For the Nine Months Ended
Changes in Estimates
 
September 27, 2018
 
September 28, 2017
 
September 27, 2018
 
September 28, 2017
(Unfavorable) Favorable Cumulative Catch-up Adjustment by Segment
 
 
 
 
 
 
 
 
Fuselage Systems
 
$
(12.0
)
 
$
(2.4
)
 
$
(3.0
)
 
$
5.3

Propulsion Systems
 
(2.4
)
 
2.4

 
0.9

 
4.3

Wing Systems
 
1.4

 
(2.8
)
 
0.9

 
19.1

Total (Unfavorable) Favorable Cumulative Catch-up Adjustment
 
$
(13.0
)
 
$
(2.8
)
 
$
(1.2
)
 
$
28.7

 
 
 
 
 
 
 
 
 
(Forward Loss) Changes in Estimate on Loss Programs by Segment
 
 
 
 
 
 
 
 
Fuselage Systems
 
$
—

 
$
(0.9
)
 
$
(1.5
)
 
$
(238.5
)
Propulsion Systems
 
(0.8
)
 
1.3

 
—

 
(46.7
)
Wing Systems
 
0.3

 
(2.4
)
 
(0.2
)
 
(74.4
)
Total Forward Loss
 
$
(0.5
)
 
$
(2.0
)
 
$
(1.7
)
 
$
(359.6
)
 
 
 
 
 
 
 
 
 
Total Change in Estimate
 
$
(13.5
)
 
$
(4.8
)
 
$
(2.9
)
 
$
(330.9
)
EPS Impact (diluted per share based upon statutory rates)
 
$
(0.10
)
 
$
(0.03
)
 
$
(0.02
)
 
$
(1.75
)