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BUSINESS SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 28, 2024
Segment Reporting [Abstract]  
Schedule of Selected Financial Information by Business Segments
Segment revenue, segment operating income and a reconciliation of segment operating income to total income before income taxes were as follows:
Quarter EndedTwo Quarters Ended
(In millions)June 28, 2024June 30, 2023June 28, 2024June 30, 2023
Revenue
SAS$1,707 $1,715 $3,458 $3,370 
IMS1,729 1,735 3,398 3,435 
CS1,346 1,289 2,640 2,452 
AR581 **1,123 **
Corporate eliminations(64)(46)(109)(93)
Total revenue$5,299 $4,693 $10,510 $9,164 
Income before Income Taxes
Operating income:
SAS
$215 $168 $431 $355 
IMS
206 162 396 347 
CS329 325 639 591 
AR75 **147 **
Total segment 825 655 1,613 1,293 
Total unallocated corporate expenses(349)(255)(759)(500)
Total operating income476 400 854 793 
Non-service FAS pension income and other, net86 83 174 165 
Interest expense, net(172)(111)(348)(213)
Income before income taxes$390 $372 $680 $745 
_______________
**    AR is a reportable segment established during the quarter ended September 29, 2023, which consists of operations of AJRD. As such, there is no comparable prior year information.
The table below is a reconciliation of the FAS/CAS operating adjustment:
Quarter EndedTwo Quarters Ended
(In millions)June 28, 2024June 30, 2023June 28, 2024June 30, 2023
FAS pension service cost$(10)$(7)$(18)$(13)
Less: CAS pension cost(16)(30)(31)(58)
FAS/CAS operating adjustment6 23 13 45 
Non-service FAS pension income81 77 161 154 
FAS/CAS pension adjustment, net$87 $100 $174 $199 
Schedule of Disaggregation of Revenue by Segment
Disaggregation of Revenue
We disaggregate revenue for all four business segments by customer relationship, contract type and geographical region. We believe these categories best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
Quarter Ended
June 28, 2024June 30, 2023
(In millions)SASIMSCSARSASIMSCSAR
Revenue By Customer Relationship
Prime contractor$1,076 $1,097 $915 $155 $1,084 $1,127 $798 **
Subcontractor618 603 409 426 621 584 479 **
Intersegment13 29 22 — 10 24 12 **
Total segment$1,707 $1,729 $1,346 $581 $1,715 $1,735 $1,289 **
Revenue By Contract Type
Fixed-price(1)
$1,072 $1,340 $1,118 $344 $1,099 $1,317 $1,102 **
Cost-reimbursable622 360 206 237 606 394 175 **
Intersegment13 29 22 — 10 24 12 **
Total segment$1,707 $1,729 $1,346 $581 $1,715 $1,735 $1,289 **
Revenue By Geographical Region
United States$1,488 $1,263 $886 $571 $1,475 $1,281 $834 **
International206 437 438 10 230 430 443 **
Intersegment13 29 22 — 10 24 12 **
Total segment$1,707 $1,729 $1,346 $581 $1,715 $1,735 $1,289 **
Two Quarters Ended
June 28, 2024June 30, 2023
(In millions)SASIMSCSARSASIMSCSAR
Revenue By Customer Relationship
Prime contractor$2,184 $2,163 $1,828 $308 $2,094 $2,281 $1,605 **
Subcontractor1,246 1,190 776 815 1,253 1,109 822 **
Intersegment28 45 36 — 23 45 25 **
Total segment$3,458 $3,398 $2,640 $1,123 $3,370 $3,435 $2,452 **
Revenue By Contract Type
Fixed-price(1)
$2,180 $2,618 $2,183 $646 $2,121 $2,603 $2,080 **
Cost-reimbursable1,250 735 421 477 1,226 787 347 **
Intersegment28 45 36 — 23 45 25 **
Total segment$3,458 $3,398 $2,640 $1,123 $3,370 $3,435 $2,452 **
Revenue By Geographical Region
United States$2,995 $2,466 $1,811 $1,098 $2,929 $2,538 $1,625 **
International435 887 793 25 418 852 802 **
Intersegment28 45 36 — 23 45 25 **
Total segment$3,458 $3,398 $2,640 $1,123 $3,370 $3,435 $2,452 **
_______________
**    AR is a reportable segment established during the quarter ended September 29, 2023, which consists of operations of AJRD. As such, there is no comparable prior year information.
(1)Includes revenue derived from time-and-materials contracts.
Schedule of Total Assets by Segment
Total assets by business segment were as follows:
(In millions)June 28, 2024December 29, 2023
SAS$8,814 $9,085 
IMS10,912 10,631 
CS7,026 7,084 
AR4,462 4,208 
Corporate(1)
10,443 10,679 
Total Assets$41,657 $41,687 
_______________
(1)Identifiable intangible assets acquired in connection with business combinations were recorded as corporate assets because they benefited the entire Company. Identifiable intangible asset balances recorded as corporate assets were $8.1 billion and $8.5 billion at June 28, 2024 and December 29, 2023, respectively. Corporate assets also consisted of cash, income taxes receivable, deferred income taxes, deferred compensation plan investments, buildings and equipment, real estate held for development and leasing, as well as any assets of businesses held for sale.