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CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($)
$ in Millions
Jul. 01, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 420 $ 941
Receivables, net 1,191 1,045
Contract assets 3,048 3,021
Inventories 1,241 982
Inventory prepayments 8 48
Income taxes receivable 47 98
Other current assets 233 224
Total current assets 6,188 6,359
Non-current Assets    
Property, plant and equipment, net 2,042 2,101
Operating lease right-of-use assets 761 769
Goodwill 18,143 18,189
Other intangible assets, net 6,321 6,640
Deferred income taxes 103 85
Other non-current assets 580 566
Total non-current assets 27,950 28,350
Total assets 34,138 34,709
Current Liabilities    
Short-term debt 2 2
Accounts payable 1,721 1,767
Contract liabilities 1,270 1,297
Compensation and benefits 381 444
Other accrued items 898 1,002
Income taxes payable 350 28
Current portion of long-term debt, net 262 11
Total current liabilities 4,884 4,551
Non-current Liabilities    
Defined benefit plans 437 614
Operating lease liabilities 756 768
Long-term debt, net 6,782 7,048
Deferred income taxes 1,032 1,344
Other long-term liabilities 1,057 1,065
Total non-current liabilities 10,064 10,839
Shareholders’ Equity:    
Preferred stock, without par value; 1,000,000 shares authorized; none issued 0 0
Common stock, $1.00 par value; 500,000,000 shares authorized; issued and outstanding 191,518,970 and 193,511,401 shares at July 1, 2022 and December 31, 2021, respectively 192 194
Other capital 15,814 16,248
Retained earnings 3,312 2,917
Accumulated other comprehensive loss (232) (146)
Total shareholders’ equity 19,086 19,213
Noncontrolling interests 104 106
Total equity 19,190 19,319
Total liabilities and equity $ 34,138 $ 34,709