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Pay vs Performance Disclosure
number in Millions
 5 Months Ended 7 Months Ended 12 Months Ended
Jun. 14, 2020
Dec. 31, 2020
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure            
Pay vs Performance Disclosure, Table    
Year
Summary
Compensation
Table Total
for PEO
(Taiclet)(1)
Compensation
Actually Paid
to PEO
(Taiclet)(2)
Summary
Compensation
Table Total
for PEO
(Hewson)(1)
Compensation
Actually Paid
to PEO
(Hewson)(2)
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs(1)
Average
Compensation
Actually Paid
to Non-PEO
NEOs(2)
Value of Initial Fixed
$100 Investment Based On:
Net Income(4)
Free Cash
Flow(5)
Total
Shareholder
Return
Peer Group
Total
Shareholder
Return(3)
($)($)($)($)($)($)($)($)($)($)
(a)(b)(c)(b)(c)(d)(e)(f)(g)(h)(i)
202322,813,775 14,124,440 — — 7,683,912 5,424,589 129.72 119.09 6,920 6,229 
202224,810,545 45,201,355 — — 7,892,151 12,280,312 135.57 111.54 5,732 6,132 
202118,111,211 18,685,666 — — 6,318,045 5,193,364 96.54 95.03 6,315 7,699 
202023,360,369 22,409,142 28,499,825 28,639,659 8,536,811 8,118,636 93.55 83.94 6,833 6,417 
      
Company Selected Measure Name     Free Cash Flow      
Named Executive Officers, Footnote     Mr. Taiclet was elected CEO effective June 15, 2020, succeeding Ms. Marillyn A. Hewson. The individuals comprising the Non-PEO NEOs are for 2023: Mr. Malave, Mr. St. John, Mr. Cahill and Mr. Ulmer; for 2022: Mr. Malave, Mr. John W. Mollard, Mr. St. John, Mr. Scott T. Greene, Ms. Maryanne R. Lavan and Mr. Ulmer; for 2021: Mr. Mollard, Mr. Kenneth P. Possenriede, Mr. St. John, Mr. Richard F. Ambrose, Ms. Stephanie C. Hill and Ms. Hewson; and for 2020: Mr. Possenriede, Mr. St. John, Mr. Ambrose and Ms. Michele A. Evans.      
Peer Group Issuers, Footnote     Reflects S&P Aerospace & Defense Index.      
PEO Total Compensation Amount     $ 22,813,775      
PEO Actually Paid Compensation Amount     $ 14,124,440      
Adjustment To PEO Compensation, Footnote     CAP reflects the total compensation reported in the Summary Compensation Table for the applicable year adjusted to include or exclude the amounts shown in the tables below for the NEOs. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. The Inclusion of Pension Service Cost column would report amounts based on the pension service cost for services rendered during the listed year and any prior service cost or credit attributable to a plan amendment for services rendered prior to the amendment. There are no amounts listed in this column because the Company’s pension plan was frozen effective January 1, 2020 and there have not been any plan amendments triggering additional costs or credits in the years covered. Equity values are calculated in accordance with FASB ASC Topic 718.
Summary
Compensation
Table Total
Exclusion of
Change in
Pension Value
Exclusion of
Stock Awards
Inclusion of
Pension
Service Cost
Inclusion of
Equity Values*
Compensation
Actually Paid
($)($)($)($)($)($)
James D. Taiclet
202322,813,775 — (13,008,681)— 4,319,346 14,124,440 
202224,810,545 — (13,413,894)— 33,804,704 45,201,355 
202118,111,211 — (10,783,715)— 11,358,170 18,685,666 
2020
23,360,369 — (18,611,850)— 17,660,623 22,409,142 
Marillyn A. Hewson
202028,499,825 (2,445,000)(12,818,340)— 15,403,174 28,639,659 
Average of Non-PEO NEOs
20237,683,912 (203,453)(3,994,158)— 1,938,287 5,424,589 
20227,892,151 — (4,648,089)— 9,036,250 12,280,312 
20216,318,045 — (2,518,462)— 1,393,781 5,193,364 
20208,536,811 (720,038)(3,805,702)— 4,107,564 8,118,636 
*    The amounts in the Inclusion of Equity Values in the table above are derived from the amounts set forth in the following table:
Year-End Fair
Value of
Equity Awards
Granted
During Year
That
Remained
Unvested as
of Last Day of
Year
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity Awards
Vesting-Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity Awards
that Vested
During Year
Fair Value at
Last Day of
Prior Year of
Equity Awards
Forfeited
During Year
Value of
Dividends or
Other
Earnings Paid
on Stock or
Option Awards
Not Otherwise
Included
Total -
Inclusion of
Equity Values
($)($)($)($)($)($)($)
James D. Taiclet
202311,256,499 (6,400,756)— (536,398)— — 4,319,346 
202217,510,143 15,944,680 — 349,881 — — 33,804,704 
202111,928,062 (761,733)— 191,841 — — 11,358,170 
2020
17,660,623 — — — — — 17,660,623 
Marillyn A. Hewson
202013,109,831 (143,041)164,491 2,271,893 — — 15,403,174 
Average of Non-PEO NEOs
20233,444,261 (1,481,485)26,240 (50,728)— — 1,938,287 
20225,926,948 2,832,204 118,924 158,175 — — 9,036,250 
20211,970,122 (47,405)30,538 (173,903)(385,571)— 1,393,781 
2020
3,898,853 (31,118)38,958 200,871 — — 4,107,564 
      
Non-PEO NEO Average Total Compensation Amount     $ 7,683,912 $ 7,892,151 $ 6,318,045 $ 8,536,811
Non-PEO NEO Average Compensation Actually Paid Amount     $ 5,424,589 12,280,312 5,193,364 8,118,636
Adjustment to Non-PEO NEO Compensation Footnote     CAP reflects the total compensation reported in the Summary Compensation Table for the applicable year adjusted to include or exclude the amounts shown in the tables below for the NEOs. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Exclusion of Stock Awards column are the totals from the Stock Awards column set forth in the Summary Compensation Table. The Inclusion of Pension Service Cost column would report amounts based on the pension service cost for services rendered during the listed year and any prior service cost or credit attributable to a plan amendment for services rendered prior to the amendment. There are no amounts listed in this column because the Company’s pension plan was frozen effective January 1, 2020 and there have not been any plan amendments triggering additional costs or credits in the years covered. Equity values are calculated in accordance with FASB ASC Topic 718.
Summary
Compensation
Table Total
Exclusion of
Change in
Pension Value
Exclusion of
Stock Awards
Inclusion of
Pension
Service Cost
Inclusion of
Equity Values*
Compensation
Actually Paid
($)($)($)($)($)($)
James D. Taiclet
202322,813,775 — (13,008,681)— 4,319,346 14,124,440 
202224,810,545 — (13,413,894)— 33,804,704 45,201,355 
202118,111,211 — (10,783,715)— 11,358,170 18,685,666 
2020
23,360,369 — (18,611,850)— 17,660,623 22,409,142 
Marillyn A. Hewson
202028,499,825 (2,445,000)(12,818,340)— 15,403,174 28,639,659 
Average of Non-PEO NEOs
20237,683,912 (203,453)(3,994,158)— 1,938,287 5,424,589 
20227,892,151 — (4,648,089)— 9,036,250 12,280,312 
20216,318,045 — (2,518,462)— 1,393,781 5,193,364 
20208,536,811 (720,038)(3,805,702)— 4,107,564 8,118,636 
*    The amounts in the Inclusion of Equity Values in the table above are derived from the amounts set forth in the following table:
Year-End Fair
Value of
Equity Awards
Granted
During Year
That
Remained
Unvested as
of Last Day of
Year
Change in Fair
Value from
Last Day of
Prior Year to
Last Day of
Year of
Unvested
Equity Awards
Vesting-Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
Change in Fair
Value from
Last Day of
Prior Year to
Vesting Date
of Unvested
Equity Awards
that Vested
During Year
Fair Value at
Last Day of
Prior Year of
Equity Awards
Forfeited
During Year
Value of
Dividends or
Other
Earnings Paid
on Stock or
Option Awards
Not Otherwise
Included
Total -
Inclusion of
Equity Values
($)($)($)($)($)($)($)
James D. Taiclet
202311,256,499 (6,400,756)— (536,398)— — 4,319,346 
202217,510,143 15,944,680 — 349,881 — — 33,804,704 
202111,928,062 (761,733)— 191,841 — — 11,358,170 
2020
17,660,623 — — — — — 17,660,623 
Marillyn A. Hewson
202013,109,831 (143,041)164,491 2,271,893 — — 15,403,174 
Average of Non-PEO NEOs
20233,444,261 (1,481,485)26,240 (50,728)— — 1,938,287 
20225,926,948 2,832,204 118,924 158,175 — — 9,036,250 
20211,970,122 (47,405)30,538 (173,903)(385,571)— 1,393,781 
2020
3,898,853 (31,118)38,958 200,871 — — 4,107,564 
      
Compensation Actually Paid vs. Total Shareholder Return    
Relationship Between CAP and Cumulative TSR, Net Income and Free Cash Flow
The following chart sets forth the relationship between CAP for our PEOs, the CAP average for our other NEOs, and our cumulative total shareholder returns during the four most recently completed years. As illustrated, CAP generally correlates with our total shareholder returns as the majority of executive compensation is delivered through long-term incentives, the value of which is largely dependent on total shareholder return, including changes to our stock price and our forecasted performance factor for the unvested PSUs granted over the last three years.
The stockholder return performance indicated on the graph below is not a guarantee of future performance.
03_426715-1_barchart_CAPandTSR.jpg
      
Compensation Actually Paid vs. Net Income    
Relationship Between CAP and Cumulative TSR, Net Income and Free Cash Flow
The following chart sets forth the relationship between CAP for our PEOs, the CAP average for our other NEOs, and our cumulative total shareholder returns during the four most recently completed years. As illustrated, CAP generally correlates with our total shareholder returns as the majority of executive compensation is delivered through long-term incentives, the value of which is largely dependent on total shareholder return, including changes to our stock price and our forecasted performance factor for the unvested PSUs granted over the last three years.
The stockholder return performance indicated on the graph below is not a guarantee of future performance.
03_426715-1_barchart_CAPandTSR.jpg
      
Compensation Actually Paid vs. Company Selected Measure    
Relationship Between CAP and Cumulative TSR, Net Income and Free Cash Flow
The following chart sets forth the relationship between CAP for our PEOs, the CAP average for our other NEOs, and our cumulative total shareholder returns during the four most recently completed years. As illustrated, CAP generally correlates with our total shareholder returns as the majority of executive compensation is delivered through long-term incentives, the value of which is largely dependent on total shareholder return, including changes to our stock price and our forecasted performance factor for the unvested PSUs granted over the last three years.
The stockholder return performance indicated on the graph below is not a guarantee of future performance.
03_426715-1_barchart_CAPandTSR.jpg
      
Total Shareholder Return Vs Peer Group    
Stockholder Returns Versus Peer Group
For purposes of the Pay Versus Performance disclosure, we measure our TSR performance against the industry-focused index disclosed in the stock performance graph of our Annual Report on Form 10-K. The comparison assumes $100 was invested in the Company and in the S&P Aerospace & Defense Index for the period starting December 31, 2019 and was held through the end of each year listed in the first table set forth above. All dollar values assume reinvestment of dividends paid by companies in the index. Historical stock performance is not necessarily indicative of future stock performance. This table does not reflect how the Compensation Committee considers TSR in setting executive pay or linking executive pay to Company performance.
03_426715-1_linechart_TSR.jpg
      
Tabular List, Table    
Other Most Important Performance Measures
The table to the right lists what in the Company’s assessment are the most important financial performance measures used by the Company to link the CAP of our NEOs for 2023 to Company performance. The measures in the table are listed alphabetically and are not ranked by relative importance or otherwise. See the CD&A and Appendix A for more information on Free Cash Flow, ROIC and Segment Operating Profit.
Most Important Performance
Measures
Free Cash Flow
Relative TSR
ROIC
Sales
Segment Operating Profit
      
Total Shareholder Return Amount     $ 129.72 135.57 96.54 93.55
Peer Group Total Shareholder Return Amount     119.09 111.54 95.03 83.94
Net Income (Loss)     $ 6,920,000,000 $ 5,732,000,000 $ 6,315,000,000 $ 6,833,000,000
Company Selected Measure Amount     6,229 6,132 7,699 6,417
PEO Name Ms. Marillyn A. Hewson (1)Mr. Taiclet (1)Mr. Taiclet (1)Mr. Taiclet (1)Mr. Taiclet  
Additional 402(v) Disclosure     “Net income” is equivalent to “Net earnings” as reported in the Company’s financial statements.
Net Income and Free Cash Flow are also important components of our executive compensation incentive plans. Free Cash Flow is incorporated in both our annual and long-term incentive plans, while Net Income is part of the formula for our ROIC calculation in our
long-term incentive program. While Net Income and Free Cash Flow are key financial measures that can also affect our TSRs, they do not have as strong of a relation to CAP given that the methodology in determining CAP is primarily based on changes to equity-based award values tied to our annual stock price performance. As an example, CAP for 2023 is significantly lower than 2022, while free cash flow and Net Income increased from 2022 to 2023.
As shown in the Pay versus Performance table on page 72 above, CAP decreased from 2020 to 2021, increased from 2021 to 2022, and decreased from 2022 to 2023, while Net Income decreased from 2020 to 2021, 2021 to 2022, and increased from 2022 to 2023, while Free Cash Flow increased from 2020 to 2021, decreased from 2021 to 2022, and increased from 2022 to 2023. See “2023 Compensation Elements” in the CD&A for more information on the contribution of these measures to 2023 incentive awards.
      
Measure:: 1            
Pay vs Performance Disclosure            
Name     Free Cash Flow      
Non-GAAP Measure Description     SEC rules require us to designate a “company-selected measure” that in our assessment represents the most important financial performance measure (that is not total shareholder return or net income) used by the Company to link the CAP of our NEOs, for the most recently completed fiscal year, to our performance. We selected Free Cash Flow as this measure for 2022 and 2023 as reflected in column (i) in the first table above. Free Cash Flow is a non-GAAP measure and is defined as cash from operations less capital expenditures. See Appendix A for more information on Free Cash Flow and how it is calculated. This performance measure may not have been the most important financial performance measure for years 2021 and 2020 and we may determine a different financial performance measure to be the most important financial performance measure in future years.      
Measure:: 2            
Pay vs Performance Disclosure            
Name     Relative TSR      
Measure:: 3            
Pay vs Performance Disclosure            
Name     ROIC      
Measure:: 4            
Pay vs Performance Disclosure            
Name     Sales      
Measure:: 5            
Pay vs Performance Disclosure            
Name     Segment Operating Profit      
Taiclet [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount     $ 22,813,775 $ 24,810,545 $ 18,111,211 $ 23,360,369
PEO Actually Paid Compensation Amount     14,124,440 45,201,355 18,685,666 22,409,142
Hewson [Member]            
Pay vs Performance Disclosure            
PEO Total Compensation Amount           28,499,825
PEO Actually Paid Compensation Amount           28,639,659
PEO | Equity Award Adjustments [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     4,319,346 33,804,704 11,358,170  
PEO | Equity Awards Granted During the Year, Unvested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     11,256,499 17,510,143 11,928,062  
PEO | Equity Awards Granted in Prior Years, Unvested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     (6,400,756) 15,944,680 (761,733)  
PEO | Equity Awards Granted During the Year, Vested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     0 0 0  
PEO | Equity Awards Granted in Prior Years, Vested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     (536,398) 349,881 191,841  
PEO | Equity Awards that Failed to Meet Vesting Conditions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     0 0 0  
PEO | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     0 0 0  
PEO | Taiclet [Member] | Change in Pension Value [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Taiclet [Member] | Stock Awards Adjustment [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (13,008,681) (13,413,894) (10,783,715) (18,611,850)
PEO | Taiclet [Member] | Pension Service Cost [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
PEO | Taiclet [Member] | Equity Award Adjustments [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     4,319,346 33,804,704 11,358,170 17,660,623
PEO | Taiclet [Member] | Equity Awards Granted During the Year, Unvested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           17,660,623
PEO | Taiclet [Member] | Equity Awards Granted in Prior Years, Unvested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           0
PEO | Taiclet [Member] | Equity Awards Granted During the Year, Vested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           0
PEO | Taiclet [Member] | Equity Awards Granted in Prior Years, Vested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           0
PEO | Taiclet [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           0
PEO | Taiclet [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           0
PEO | Hewson [Member] | Change in Pension Value [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           (2,445,000)
PEO | Hewson [Member] | Stock Awards Adjustment [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           (12,818,340)
PEO | Hewson [Member] | Pension Service Cost [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           0
PEO | Hewson [Member] | Equity Award Adjustments [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount           15,403,174
PEO | Hewson [Member] | Equity Awards Granted During the Year, Unvested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           13,109,831
PEO | Hewson [Member] | Equity Awards Granted in Prior Years, Unvested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           (143,041)
PEO | Hewson [Member] | Equity Awards Granted During the Year, Vested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           164,491
PEO | Hewson [Member] | Equity Awards Granted in Prior Years, Vested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           2,271,893
PEO | Hewson [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           0
PEO | Hewson [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards           0
Non-PEO NEO | Change in Pension Value [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (203,453) 0 0 (720,038)
Non-PEO NEO | Stock Awards Adjustment [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     (3,994,158) (4,648,089) (2,518,462) (3,805,702)
Non-PEO NEO | Pension Service Cost [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     0 0 0 0
Non-PEO NEO | Equity Award Adjustments [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation, Amount     1,938,287 9,036,250 1,393,781 4,107,564
Non-PEO NEO | Equity Awards Granted During the Year, Unvested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     3,444,261 5,926,948 1,970,122 3,898,853
Non-PEO NEO | Equity Awards Granted in Prior Years, Unvested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     (1,481,485) 2,832,204 (47,405) (31,118)
Non-PEO NEO | Equity Awards Granted During the Year, Vested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     26,240 118,924 30,538 38,958
Non-PEO NEO | Equity Awards Granted in Prior Years, Vested [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     (50,728) 158,175 (173,903) 200,871
Non-PEO NEO | Equity Awards that Failed to Meet Vesting Conditions [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     0 0 (385,571) 0
Non-PEO NEO | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]            
Pay vs Performance Disclosure            
Adjustment to Compensation Amount, Equity Awards     $ 0 $ 0 $ 0 $ 0