2.2.0.7 false Basis of Interim Financial Statement Preparation and Use of Estimates 0201 - Disclosure - Basis of Interim Financial Statement Preparation and Use of Estimates true false false false 1 USD false false Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 Pure Standard http://www.xbrl.org/2003/instance pure xbrli 0 $ 2 Basis of Interim Financial Statement Preparation and Use of Estimates [Abstract] 0 gr_BasisOfInterimFinancialStatementPreparationAndUseOfEstimatesAbstract gr false na duration Basis of Interim Financial Statement Preparation and Use of Estimates. false false false false false true false false false false false false 1 false false false false 0 0 false false false xbrli:stringItemType string Basis of Interim Financial Statement Preparation and Use of Estimates. false 3 Basis of Interim Financial Statement Preparation and Use of Estimates 1 gr_BasisOfInterimFinancialStatementPreparationAndUseOfEstimatesTextBlock gr false na duration Basis of Interim Financial Statement Preparation and Use of Estimates. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div align="left" style="font-family: Helvetica,Arial,sans-serif">   <div align="left" style="font-size: 10pt; margin-top: 0pt"><b></b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt"><b>Note 1. Basis of Interim Financial Statement Preparation and Use of Estimates</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">The accompanying unaudited condensed consolidated financial statements of Goodrich Corporation and its subsidiaries have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and notes required by accounting principles generally accepted in the United States for complete financial statements. Unless indicated otherwise or the context requires, the terms “we,” “our,” “us,” “Goodrich” or “Company” refer to Goodrich Corporation and its subsidiaries. The Company believes that all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Certain amounts in prior year financial statements have been reclassified to conform to the current year presentation. Operating results for the three and nine months ended September 30, 2010 are not necessarily indicative of the results that may be achieved for the twelve months ending December 31, 2010. For further information, refer to the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2009. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt"><b><i>Discontinued Operations. </i></b>Net income from discontinued operations was $0.1 million and $1.4 million for the three and nine months ended September 30, 2010, respectively. Income from discontinued operations was $3.3 million (net of income taxes of $1.9 million) and $35 million (net of income taxes of $20.8 million) for the three and nine months ended September 30, 2009, respectively. The income in the three and nine month periods of 2009 related primarily to the resolution of litigation for an environmental matter at a divested business that had been previously reported as a discontinued operation and favorable resolution of other divestiture liabilities. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt"><b><i>Use of Estimates. </i></b>The preparation of financial statements requires management to make estimates and assumptions that affect amounts recognized. Estimates and assumptions are reviewed and updated regularly as new information becomes available. During the three and nine months ended September 30, 2010 and 2009, the Company changed its estimates of revenues and costs on certain long-term contracts primarily in its aerostructures and aircraft wheels and brakes businesses. The changes in estimates increased income from continuing operations before income taxes during the three months ended September 30, 2010 and 2009 by $22.2 million and $12.6 million, respectively ($13.9 million and $7.9 million after tax, or $0.11 and $0.06 per diluted share, respectively). The changes in estimates increased income from continuing operations before income taxes during the nine months ended September 30, 2010 and 2009 by $71 million and $26.1 million, respectively ($44.5 million and $16.3 million after tax, or $0.35 and $0.13 per diluted share, respectively). These revisions were primarily related to favorable cost and operational performance, changes in volume expectations and sales pricing improvements and finalization of contract terms on current and/or follow-on contracts. </div>   </div>  <div style="font-family: Helvetica,Arial,sans-serif"> </div>  <!-- Begin Block Tagged Note false false false us-types:textBlockItemType textblock Basis of Interim Financial Statement Preparation and Use of Estimates. No authoritative reference available. false 1 2 false UnKnown UnKnown UnKnown false true