During the two quarters ended July 1, 2022, we completed one business divestiture and one asset sale from our Integrated Mission Systems business segment for combined net cash proceeds of $20 million and recognized a pre-tax gain of $8 million associated with the asset sale included in the “Engineering, selling and administrative expenses” line of our Condensed Consolidated Statement of Income for the quarter and two quarters ended July 1, 2022.

The following table presents information regarding business divestitures and asset sales completed during the two quarters ended July 2, 2021:


(In millions)	Business Segment Prior to Divestiture / Asset Sale(1)	Date of Divestiture / Asset Sale	Sale Price		Net Cash Proceeds(2)






CPS business(3)	Other non-reportable businesses(7)	July 2, 2021	$	398	$	354
Military training business(4)	Other non-reportable businesses(7)	July 2, 2021	1,050		1,074
VSE disposal group(5)	Other non-reportable businesses(7)	July 2, 2021(6)	20		2
			$	1,468	$	1,430

(1)Business segment in which the operating results of each divested business were reported through the date of divestiture.

(3)The Combat Propulsion Systems and related businesses (“CPS business”) engineered, designed and manufactured engines, transmissions, suspensions and turret drive systems for tracked and wheeled combat vehicle systems.

(4)The military training business provided flight simulation solutions and training services to the U.S. Department of Defense and foreign military agencies.

(5)The Voice Switch Enterprise disposal group (“VSE disposal group”) provided voice over internet protocol systems for air traffic management.

(6)The sale of the VSE disposal group was partially closed on July 2, 2021, with the remainder divested on July 30, 2021.

Income Before Income Taxes Attributable to Businesses Divested: The following table presents the amount of significant income before income taxes attributable to businesses divested in our Condensed Consolidated Statement of Income (Unaudited):


	Quarter Ended		Two Quarters Ended
(In millions)	July 2, 2021			July 2, 2021



Electron Devices business(1)	$	11		$	30



CPS business	27			53
Military training business	18			35

(1)The Electron Devices and Narda Microwave-West divisions (“Electron Devices business”) manufactured microwave devices for ground-based, airborne and satellite communications and radar. We entered into a definitive agreement to sell the Electron Devices business on July 2, 2021. The sale of the Electron Devices business was closed on October 1, 2021.

Business Divestiture-Related Gains, net: The “Business divestiture-related gains, net” line item in our Condensed Consolidated Statement of Income (Unaudited) is comprised of the following pre-tax gains associated with businesses divested.


	Quarter Ended		Two Quarters Ended
(In millions)	July 2, 2021			July 2, 2021






VSE disposal group	$	(18)		$	(26)
CPS business(1)	(12)			(19)
Military training business	212			212




Other	(2)			(2)

Total business divestiture-related gains, net	$	180		$	165

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(1)During the quarter ended April 2, 2021, upon classifying the CPS business as held for sale, we recorded a non-cash impairment charge of $62 million, which is included in the “Impairment of goodwill and other assets” line item in our Condensed Consolidated Statement of Income (Unaudited) for the two quarters ended July 2, 2021. See Note I — Goodwill and Other Intangible Assets in these Notes for additional information.

See Note I — Goodwill and Other Intangible Assets in these Notes for additional information regarding the impairment of goodwill related to business divestitures.