Information on Business Segments (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of Financial Information For Each Business Segment

Sales, operating costs and expenses and operating profit for each of our business segments were as follows (in millions):


	2025		2024		2023
Sales
Aeronautics	$	30,257	$	28,618	$	27,474
Missiles and Fire Control	14,450		12,682		11,253
Rotary and Mission Systems	17,312		17,264		16,239
Space	13,029		12,479		12,605
Total sales	$	75,048	$	71,043	$	67,571
Operating costs and expenses
Aeronautics	$	28,168	$	26,093	$	24,649
Missiles and Fire Control	12,461		12,277		9,712
Rotary and Mission Systems	16,041		15,391		14,399
Space	11,689		11,308		11,473
Total operating costs and expenses	$	68,359	$	65,069	$	60,233
Operating profit (a)
Aeronautics	$	2,086	$	2,523	$	2,825
Missiles and Fire Control	1,989		413		1,541
Rotary and Mission Systems	1,323		1,921		1,865
Space	1,345		1,226		1,158
Total business segment operating profit	6,743		6,083		7,389
Unallocated items
FAS/CAS pension operating adjustment	1,518		1,624		1,660
Intangible asset amortization expense	(254)		(247)		(247)
Impairment and other charges	(66)		(87)		(92)
Other, net	(210)		(360)		(203)
Total unallocated, net	988		930		1,118
Total consolidated operating profit	$	7,731	$	7,013	$	8,507

(a)Operating profit by segment includes certain immaterial items, such as other income (primarily equity earnings) that are not presented separately in the table. Accordingly, the difference between sales less operating costs and expenses may not equal operating profit by segment.

The total FAS/CAS pension adjustments, including the service and non-service cost components of FAS pension (expense) income for our qualified defined benefit pension plans, were as follows (in millions):


	2025		2024		2023
Total FAS (expense) income and CAS cost
FAS pension (expense) income	$	(924)	$	2	$	378
Less: CAS pension cost	1,568		1,684		1,725
Total FAS/CAS pension adjustment	$	644	$	1,686	$	2,103

Service and non-service cost reconciliation
FAS pension service cost	$	(50)	$	(60)	$	(65)
Less: CAS pension cost	1,568		1,684		1,725
Total FAS/CAS pension operating adjustment	1,518		1,624		1,660
Non-service FAS pension (expense) income	(874)		62		443
Total FAS/CAS pension adjustment	$	644	$	1,686	$	2,103

Sales between our business segments are excluded from our consolidated and segment operating results as these activities are eliminated in consolidation. Intersegment sales for each of our business segments were as follows (in millions):


	2025		2024		2023
Intersegment sales
Aeronautics	$	381	$	377	$	303
Missiles and Fire Control	868		804		688
Rotary and Mission Systems	2,371		2,320		2,125
Space	328		392		358
Total intersegment sales	$	3,948	$	3,893	$	3,474

Sales by products and services, contract type, customer category and geographic region for each of our business segments were as follows (in millions):


	2025
	Aeronautics		MFC		RMS		Space		Total
Sales
Products	$	24,617	$	12,977	$	14,188	$	10,872	$	62,654
Services	5,640		1,473		3,124		2,157		12,394
Total sales	$	30,257	$	14,450	$	17,312	$	13,029	$	75,048
Sales by contract type
Fixed-price	$	20,393	$	10,523	$	10,766	$	3,518	$	45,200
Cost-reimbursable	9,864		3,927		6,546		9,511		29,848
Total sales	$	30,257	$	14,450	$	17,312	$	13,029	$	75,048
Sales by customer
U.S. Government	$	19,307	$	10,194	$	11,126	$	12,785	$	53,412
International (a)	10,916		4,245		5,967		215		21,343
U.S. commercial and other	34		11		219		29		293
Total sales	$	30,257	$	14,450	$	17,312	$	13,029	$	75,048
Sales by geographic region
United States	$	19,341	$	10,205	$	11,345	$	12,814	$	53,705
Europe	5,567		1,728		1,411		99		8,805
Asia Pacific	3,825		1,065		2,816		109		7,815
Middle East	589		1,383		885		7		2,864
Other	935		69		855		—		1,859
Total sales	$	30,257	$	14,450	$	17,312	$	13,029	$	75,048


	2024
	Aeronautics		MFC		RMS		Space		Total
Sales
Products	$	23,598	$	11,275	$	14,005	$	10,399	$	59,277
Services	5,020		1,407		3,259		2,080		11,766
Total sales	$	28,618	$	12,682	$	17,264	$	12,479	$	71,043
Sales by contract type
Fixed-price	$	19,603	$	8,774	$	10,870	$	3,481	$	42,728
Cost-reimbursable	9,015		3,908		6,394		8,998		28,315
Total sales	$	28,618	$	12,682	$	17,264	$	12,479	$	71,043
Sales by customer
U.S. Government	$	19,314	$	9,043	$	11,469	$	12,218	$	52,044
International (a)	9,182		3,629		5,463		241		18,515
U.S. commercial and other	122		10		332		20		484
Total sales	$	28,618	$	12,682	$	17,264	$	12,479	$	71,043
Sales by geographic region
United States	$	19,436	$	9,053	$	11,801	$	12,238	$	52,528
Europe	5,071		1,327		1,243		75		7,716
Asia Pacific	2,763		763		2,556		159		6,241
Middle East	808		1,473		787		7		3,075
Other	540		66		877		—		1,483
Total sales	$	28,618	$	12,682	$	17,264	$	12,479	$	71,043


	2023
	Aeronautics		MFC		RMS		Space		Total
Sales
Products	$	22,758	$	9,919	$	12,913	$	10,675	$	56,265
Services	4,716		1,334		3,326		1,930		11,306
Total sales	$	27,474	$	11,253	$	16,239	$	12,605	$	67,571
Sales by contract type
Fixed-price	$	18,664	$	7,661	$	10,403	$	3,276	$	40,004
Cost-reimbursable	8,810		3,592		5,836		9,329		27,567
Total sales	$	27,474	$	11,253	$	16,239	$	12,605	$	67,571
Sales by customer
U.S. Government	$	18,311	$	7,769	$	10,961	$	12,382	$	49,423
International (a)	9,034		3,473		4,983		154		17,644
U.S. commercial and other	129		11		295		69		504
Total sales	$	27,474	$	11,253	$	16,239	$	12,605	$	67,571
Sales by geographic region
United States	$	18,440	$	7,780	$	11,256	$	12,451	$	49,927
Europe	4,898		786		1,265		62		7,011
Asia Pacific	2,800		687		2,275		89		5,851
Middle East	987		1,844		721		2		3,554
Other	349		156		722		1		1,228
Total sales	$	27,474	$	11,253	$	16,239	$	12,605	$	67,571

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


	2025		2024		2023
Capital expenditures
Aeronautics	$	503	$	593	$	535
Missiles and Fire Control	235		265		252
Rotary and Mission Systems	243		230		220
Space	342		366		455
Total business segment capital expenditures	1,323		1,454		1,462
Corporate activities	326		231		229
Total capital expenditures	$	1,649	$	1,685	$	1,691
PP&E depreciation and software amortization
Aeronautics	$	474	$	452	$	416
Missiles and Fire Control	192		183		175
Rotary and Mission Systems	235		227		220
Space	311		270		221
Total business segment depreciation and amortization	1,212		1,132		1,032
Corporate activities (a)	475		427		398
Total depreciation and amortization	$	1,687	$	1,559	$	1,430

(a)Includes amortization of purchased intangibles.

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


	2025		2024
Assets
Aeronautics	$	14,673	$	13,223
Missiles and Fire Control	6,304		5,952
Rotary and Mission Systems	16,576		17,025
Space	7,755		7,388
Total business segment assets	45,308		43,588
Corporate assets (a)	14,532		12,029
Total assets	$	59,840	$	55,617

(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 other marketable investments.