Other Financial Data (Tables)

3 Months Ended

Mar. 29, 2014

Other Financial Data [Abstract]

Other Charges

Other charges included in Operating earnings consist of the following:

	Three Months Ended
	March 29, 2014			March 30, 2013
Other charges (income):
Intangibles amortization	$	5		$	6
Reorganization of businesses	21			11
Gain on sale of building and land	(21		)	—
	$	5		$	17

Other Income (Expense)

Interest expense, net, and Other, both included in Other income (expense), consist of the following:

	Three Months Ended
	March 29, 2014			March 30, 2013
Interest income (expense), net:
Interest expense	$	(30	)	$	(30	)
Interest income	5			5
	$	(25	)	$	(25	)
Other:
Foreign currency gain (loss)	$	(2	)	$	4
Other	1			3
	$	(1	)	$	7

Earnings Per Common Share

The computation of basic and diluted earnings per common share is as follows:

	Net Earnings
Three Months Ended	March 29, 2014		March 30, 2013
Basic earnings per common share:
Earnings	$	127	$	192
Weighted average common shares outstanding	254.1		274.5
Per share amount	$	0.50	$	0.70
Diluted earnings per common share:
Earnings	$	127	$	192
Weighted average common shares outstanding	254.1		274.5
Add effect of dilutive securities:
Share-based awards	4.2		6.2
Diluted weighted average common shares outstanding	258.3		280.7
Per share amount	$	0.49	$	0.68

Investments

Investments consist of the following:

March 29, 2014	March 29, 2014		December 31, 2013
Available-for-sale securities:
Government, agency, and government-sponsored enterprise obligations	$	15	$	15
Corporate bonds	8		7
Mutual funds	11		11
Common stock and equivalents	—		2
	34		35
Other investments, at cost	211		201
Equity method investments	15		15
	$	260	$	251

Accounts Receivable, Net

Accounts receivable, net, consists of the following:

	March 29, 2014			December 31, 2013
Accounts receivable	$	1,788		$	1,976
Less allowance for doubtful accounts	(61		)	(56		)
	$	1,727		$	1,920

Inventories, Net

Inventories, net, consist of the following:

	March 29, 2014			December 31, 2013
Finished goods	$	257		$	232
Work-in-process and production materials	508			468
	765			700
Less inventory reserves	(189		)	(178		)
	$	576		$	522

Other Current Assets

Other current assets consist of the following:

	March 29, 2014		December 31, 2013
Costs and earnings in excess of billings	$	392	$	390
Contract-related deferred costs	114		105
Tax-related deposits and refunds receivable	71		113
Other	136		161
	$	713	$	769

Property, Plant And Equipment, Net

Property, plant and equipment, net, consists of the following:

	March 29, 2014			December 31, 2013
Land	$	36		$	36
Building	651			649
Machinery and equipment	1,979			1,938
	2,666			2,623
Less accumulated depreciation	(1,871		)	(1,813		)
	$	795		$	810

Other Assets

Other assets consist of the following:

	March 29, 2014		December 31, 2013
Intangible assets, net	$	103	$	87
Long-term receivables	47		6
Other	94		92
	$	244	$	185

Accrued Liabilities

Accrued liabilities consist of the following:

	March 29, 2014		December 31, 2013
Deferred revenue	$	810	$	778
Compensation	276		334
Billings in excess of costs and earnings	354		295
Tax liabilities	92		95
Customer reserves	107		146
Dividend payable	79		79
Other	649		675
	$	2,367	$	2,402

Other Liabilities

Other liabilities consist of the following:

	March 29, 2014		December 31, 2013
Defined benefit plans, including split dollar life insurance arrangements	$	1,714	$	1,759
Postretirement health care benefit plan	118		117
Deferred revenue	293		302
Unrecognized tax benefits	61		102
Other	194		205
	$	2,380	$	2,485

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss

The following table displays the changes in Accumulated other comprehensive loss, net of tax, by component from January 1, 2014 to March 29, 2014:

	Gains and Losses on Cash Flow Hedges			Unrealized Gains and Losses on Available-for-Sale Securities			Retirement Benefit Items			Foreign Currency Translation Adjustments			Total
Balance as of January 1, 2014	$	(1	)	$	(2	)	$	(2,188	)	$	(96	)	$	(2,287	)
Other comprehensive income before reclassifications	—			2			—			2			4
Amounts reclassified from accumulated other comprehensive loss	$	—		$	—		$	13		$	—		$	13
Current period change in Other comprehensive income (loss)	—			2			13			2			17
Balance as of March 29, 2014	$	(1	)	$	—		$	(2,175	)	$	(94	)	$	(2,270	)

Accumulated Other Comprehensive Loss - Amounts Reclassified from Accumulated Other Comprehensive Loss

The following table displays the amounts reclassified from Accumulated other comprehensive loss and the affected line item in the condensed consolidated statement of operations during the three months endedMarch 29, 2014 and March 30, 2013:

	Three Months Ended
	March 29, 2014			March 30, 2013
Gains on cash flow hedges:
Foreign exchange contracts	$			$	(1	)	Cost of sales
	—			(1		)	Total before tax
	$	—		$	—		Tax (expense) or benefit
	$	—		$	(1	)	Net of tax
Amortization of Retirement Benefit Items:
Prior-service costs	$	(10	)	$	(11	)	Selling, general, and administrative expenses
Actuarial net losses	29			39			Selling, general, and administrative expenses
	19			28			Total before tax
	(6		)	(9		)	Tax benefit
	$	13		$	19		Net of tax
Total reclassifications for the period, net of tax	$	13		$	18