INFORMATION ON BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Operating Results and Total Assets for Each Business Segment

Summary operating results for each of our business segments were as follows (in millions):


	Quarters Ended				Six Months Ended
	June 30, 2024		June 25, 2023		June 30, 2024		June 25, 2023
Net sales
Aeronautics	$	7,277	$	6,875	$	14,122	$	13,144
Missiles and Fire Control	3,102		2,755		6,095		5,143
Rotary and Mission Systems	4,548		3,897		8,636		7,407
Space	3,195		3,166		6,464		6,125
Total net sales	$	18,122	$	16,693	$	35,317	$	31,819
Operating profit
Aeronautics	$	751	$	718	$	1,430	$	1,393
Missiles and Fire Control	450		371		761		748
Rotary and Mission Systems	495		454		925		804
Space	346		312		671		592
Total business segment operating profit	2,042		1,855		3,787		3,537
Unallocated items
FAS/CAS pension operating adjustment	406		416		812		831
Impairment and severance charges (a)	(87)		—		(87)		—
Intangible asset amortization expense	(61)		(62)		(122)		(124)
Other, net	(152)		(74)		(213)		(72)
Total unallocated items	106		280		390		635
Total consolidated operating profit	$	2,148	$	2,135	$	4,177	$	4,172
Intersegment sales
Aeronautics	$	67	$	71	$	137	$	124
Missiles and Fire Control	204		159		406		305
Rotary and Mission Systems	574		505		1,160		994
Space	99		92		206		178
Total intersegment sales	$	944	$	827	$	1,909	$	1,601

(a)Impairment and severance charges of $87 million ($69 million, or $0.29 per share, after-tax) include trademark and fixed asset impairments as well as severance costs. See “Note 10 - Other” below for additional information.

Net sales by products and services, contract type, customer, and geographic region were as follows (in millions):


	Quarter Ended June 30, 2024
	Aeronautics		MFC		RMS		Space		Total
Net sales
Products	$	5,971	$	2,742	$	3,705	$	2,691	$	15,109
Services	1,306		360		843		504		3,013
Total net sales	$	7,277	$	3,102	$	4,548	$	3,195	$	18,122
Net sales by contract type
Fixed-price	$	4,945	$	2,124	$	2,812	$	925	$	10,806
Cost-reimbursable	2,332		978		1,736		2,270		7,316
Total net sales	$	7,277	$	3,102	$	4,548	$	3,195	$	18,122
Net sales by customer
U.S. Government	$	4,941	$	2,241	$	2,999	$	3,107	$	13,288
International (a)	2,297		856		1,470		45		4,668
U.S. commercial and other	39		5		79		43		166
Total net sales	$	7,277	$	3,102	$	4,548	$	3,195	$	18,122
Net sales by geographic region
United States	$	4,980	$	2,246	$	3,078	$	3,150	$	13,454
Europe	1,270		209		282		19		1,780
Asia Pacific	685		180		750		25		1,640
Middle East	194		450		200		1		845
Other	148		17		238		—		403
Total net sales	$	7,277	$	3,102	$	4,548	$	3,195	$	18,122


	Six Months Ended June 30, 2024
	Aeronautics		MFC		RMS		Space		Total
Net sales
Products	$	11,563	$	5,406	$	6,946	$	5,390	$	29,305
Services	2,559		689		1,690		1,074		6,012
Total net sales	$	14,122	$	6,095	$	8,636	$	6,464	$	35,317
Net sales by contract type
Fixed-price	$	9,529	$	4,120	$	5,289	$	1,825	$	20,763
Cost-reimbursable	4,593		1,975		3,347		4,639		14,554
Total net sales	$	14,122	$	6,095	$	8,636	$	6,464	$	35,317
Net sales by customer
U.S. Government	$	9,607	$	4,408	$	5,839	$	6,269	$	26,123
International (a)	4,449		1,680		2,632		113		8,874
U.S. commercial and other	66		7		165		82		320
Total net sales	$	14,122	$	6,095	$	8,636	$	6,464	$	35,317
Net sales by geographic region
United States	$	9,673	$	4,415	$	6,004	$	6,351	$	26,443
Europe	2,481		454		551		37		3,523
Asia Pacific	1,321		367		1,290		71		3,049
Middle East	397		820		362		5		1,584
Other	250		39		429		—		718
Total net sales	$	14,122	$	6,095	$	8,636	$	6,464	$	35,317


	Quarter Ended June 25, 2023
	Aeronautics		MFC		RMS		Space		Total
Net sales
Products	$	5,645	$	2,412	$	3,041	$	2,660	$	13,758
Services	1,230		343		856		506		2,935
Total net sales	$	6,875	$	2,755	$	3,897	$	3,166	$	16,693
Net sales by contract type
Fixed-price	$	4,656	$	1,863	$	2,451	$	799	$	9,769
Cost-reimbursable	2,219		892		1,446		2,367		6,924
Total net sales	$	6,875	$	2,755	$	3,897	$	3,166	$	16,693
Net sales by customer
U.S. Government	$	4,621	$	1,911	$	2,754	$	3,121	$	12,407
International (a)	2,169		841		1,075		41		4,126
U.S. commercial and other	85		3		68		4		160
Total net sales	$	6,875	$	2,755	$	3,897	$	3,166	$	16,693
Net sales by geographic region
United States	$	4,706	$	1,914	$	2,822	$	3,125	$	12,567
Europe	1,146		174		212		24		1,556
Asia Pacific	690		215		554		16		1,475
Middle East	226		411		155		1		793
Other	107		41		154		—		302
Total net sales	$	6,875	$	2,755	$	3,897	$	3,166	$	16,693


	Six Months Ended June 25, 2023
	Aeronautics		MFC		RMS		Space		Total
Net sales
Products	$	10,801	$	4,501	$	5,833	$	5,149	$	26,284
Services	2,343		642		1,574		976		5,535
Total net sales	$	13,144	$	5,143	$	7,407	$	6,125	$	31,819
Net sales by contract type
Fixed-price	$	8,968	$	3,481	$	4,659	$	1,563	$	18,671
Cost-reimbursable	4,176		1,662		2,748		4,562		13,148
Total net sales	$	13,144	$	5,143	$	7,407	$	6,125	$	31,819
Net sales by customer
U.S. Government	$	8,738	$	3,492	$	5,177	$	6,029	$	23,436
International (a)	4,283		1,646		2,095		86		8,110
U.S. commercial and other	123		5		135		10		273
Total net sales	$	13,144	$	5,143	$	7,407	$	6,125	$	31,819
Net sales by geographic region
United States	$	8,861	$	3,497	$	5,312	$	6,039	$	23,709
Europe	2,276		385		437		47		3,145
Asia Pacific	1,365		317		992		38		2,712
Middle East	451		866		341		1		1,659
Other	191		78		325		—		594
Total net sales	$	13,144	$	5,143	$	7,407	$	6,125	$	31,819

(a)International sales include foreign military sales (FMS) contracted through the U.S. Government and direct commercial sales to international governments and other international customers.

Total assets for each of our business segments were as follows (in millions):


	June 30, 2024		December 31, 2023
Assets
Aeronautics	$	13,913	$	13,167
Missiles and Fire Control	5,938		5,703
Rotary and Mission Systems	17,612		17,521
Space	6,717		6,560
Total business segment assets	44,180		42,951
Corporate assets (a)	10,896		9,505
Total assets	$	55,076	$	52,456

(a)Corporate assets primarily include cash and cash equivalents, deferred income taxes, assets for the portion of environmental costs that are probable of future recovery, property, plant and equipment used in our corporate operations, assets held in a trust for deferred compensation plans, and investments in early-stage companies.