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Document and Entity Information
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3 Months Ended |
|---|---|
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Mar. 30, 2014
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| Document Information [Line Items] | |
| Document Type | 10-Q |
| Amendment Flag | false |
| Document Period End Date | Mar. 30, 2014 |
| Document Fiscal Year Focus | 2014 |
| Document Fiscal Period Focus | Q1 |
| Trading Symbol | LMT |
| Entity Registrant Name | LOCKHEED MARTIN CORP |
| Entity Central Index Key | 0000936468 |
| Current Fiscal Year End Date | --12-31 |
| Entity Filer Category | Large Accelerated Filer |
| Entity Common Stock, Shares Outstanding | 317,377,058 |
| X | ||||||||||
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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| X | ||||||||||
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Details
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| X | ||||||||||
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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| X | ||||||||||
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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Consolidated Statements of Earnings (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | ||||
|---|---|---|---|---|---|
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Mar. 30, 2014
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Mar. 31, 2013
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||||
| Net sales | |||||
| Products | $ 8,410 | $ 8,706 | |||
| Services | 2,240 | 2,364 | |||
| Total net sales | 10,650 | 11,070 | |||
| Cost of sales | |||||
| Products | (7,339) | (7,671) | |||
| Services | (1,950) | (2,134) | |||
| Severance charges | (30) | [1] | |||
| Other unallocated, net | 10 | (194) | |||
| Total cost of sales | (9,279) | (10,029) | |||
| Gross profit | 1,371 | 1,041 | |||
| Other income, net | 61 | 78 | |||
| Operating profit | 1,432 | 1,119 | |||
| Interest expense | (86) | (92) | |||
| Other non-operating income (expense), net | 2 | (2) | |||
| Earnings before income taxes | 1,348 | 1,025 | |||
| Income tax expense | (415) | (264) | |||
| Net earnings | $ 933 | $ 761 | |||
| Earnings per common share | |||||
| Basic earnings per common share in USD | $ 2.92 | $ 2.37 | |||
| Diluted earnings per common share in USD | $ 2.87 | $ 2.33 | |||
| Cash dividends paid per common share | $ 1.33 | $ 1.15 | |||
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| X | ||||||||||
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- Definition
Costs not allocated to the business segments and, therefore, excluded from costs of products and services sales. This principally includes the FAS/CAS pension adjustment, stock-based compensation, and other corporate costs. No definition available.
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| X | ||||||||||
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- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are voluntarily and involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. No definition available.
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| X | ||||||||||
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- Definition
Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total costs related to services rendered by an entity during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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| X | ||||||||||
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- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Comprehensive Income (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
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Mar. 30, 2014
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Mar. 31, 2013
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| Net earnings | $ 933 | $ 761 |
| Other comprehensive income (loss), net of tax | ||
| Recognition of previously deferred postretirement benefit plan amounts | 167 | 254 |
| Other, net | (3) | (43) |
| Other comprehensive income (loss), net of tax | 164 | 211 |
| Comprehensive income | $ 1,097 | $ 972 |
| X | ||||||||||
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive (income) loss related to net period benefit cost (credit) for pension and other postretirement defined benefit plans. No definition available.
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| X | ||||||||||
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- Definition
The change in other comprehensive income during the reporting period, net of tax, for an item that is not separately disclosed. No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current portion of prepayments received from customers for goods or services to be provided in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This represents the noncurrent liability recognized in the balance sheet that is associated with the defined benefit pension plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount (lower of cost or market) of inventories less all valuation, other allowances, and progress payments or customer advances received on long-term contracts or programs. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). No definition available.
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This represents the noncurrent liability recognized in the balance sheet that is associated with other postretirement defined benefit plans (excluding pension plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Consolidated Balance Sheets (Parenthetical) (USD $)
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Mar. 30, 2014
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Dec. 31, 2013
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|---|---|---|
| Common stock, par value (in USD per share) | $ 1 | $ 1 |
| X | ||||||||||
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are voluntarily and involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount of prepayments by customers for goods or services to be provided at a later date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the amount due to fund pension and non-pension benefits to employees, retired and disabled former employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Stockholders' Equity (USD $)
In Millions |
Total
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Common Stock
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Additional Paid-in Capital
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Retained Earnings
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Accumulated Other Comprehensive Loss
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|---|---|---|---|---|---|
| Beginning Balance at Dec. 31, 2012 | $ 39 | $ 321 | $ 13,211 | $ (13,493) | |
| Net earnings | 761 | 761 | |||
| Other comprehensive income, net of tax | 211 | 211 | |||
| Repurchases of common stock | (477) | (5) | (139) | (333) | |
| Dividends declared | (371) | (371) | |||
| Stock-based awards and ESOP activity | 141 | 2 | 139 | ||
| Ending Balance at Mar. 31, 2013 | 304 | 318 | 13,268 | (13,282) | |
| Beginning Balance at Dec. 31, 2013 | 4,918 | 319 | 14,200 | (9,601) | |
| Net earnings | 933 | 933 | |||
| Other comprehensive income, net of tax | 164 | 164 | |||
| Repurchases of common stock | (1,106) | (7) | (316) | (783) | |
| Dividends declared | (428) | (428) | |||
| Stock-based awards and ESOP activity | 319 | 3 | 316 | ||
| Ending Balance at Mar. 30, 2014 | $ 4,800 | $ 315 | $ 13,922 | $ (9,437) |
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- Definition
Value of stock issued during the period as a result of the exercise of stock options, the value of stock contributed to the employee stock ownership plan fund related to our defined contribution plans, and the amount of stock-based compensation during the period. No definition available.
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- Definition
Amount of paid and unpaid cash dividends declared for classes of stock, for example, but not limited to, common and preferred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BASIS OF PRESENTATION
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3 Months Ended |
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Mar. 30, 2014
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| BASIS OF PRESENTATION | NOTE 1 – BASIS OF PRESENTATION We prepared these consolidated financial statements in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information, the instructions to Form 10-Q, and Article 10 of U.S. Securities and Exchange Commission (SEC) Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. We followed the accounting policies disclosed in the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2013 (2013 Form 10-K) filed with the SEC. In the opinion of management, these consolidated financial statements reflect all adjustments that are of a normal recurring nature necessary for a fair presentation of our results of operations, financial condition, and cash flows for the interim periods presented. The preparation of these consolidated financial statements requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base these estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Our actual results may differ materially from these estimates. Significant estimates inherent in the preparation of our consolidated financial statements include, but are not limited to, accounting for sales and cost recognition, postretirement benefit plans, environmental receivables and liabilities, evaluation of goodwill and other assets for impairment, income taxes including deferred tax assets, fair value measurements, and contingencies. The consolidated financial statements include the accounts of subsidiaries we control and variable interest entities if we are the primary beneficiary. We eliminate intercompany balances and transactions in consolidation. We have reclassified certain amounts in the prior period to conform to the current year presentation. We close our books and records on the last Sunday of the calendar quarter to align our financial closing with our business processes, which was on March 30 for the first quarter of 2014 and March 31 for the first quarter of 2013. The consolidated financial statements and tables of financial information included herein are labeled based on that convention. This practice only affects interim periods, as our fiscal year ends on December 31. The results of operations for the interim periods presented are not necessarily indicative of results to be expected for the full year or future periods. Unless otherwise noted, we present all per share amounts cited in these consolidated financial statements on a “per diluted share” basis. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our 2013 Form 10-K. |
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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EARNINGS PER COMMON SHARE
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Mar. 30, 2014
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| EARNINGS PER COMMON SHARE | NOTE 2 – EARNINGS PER COMMON SHARE The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):
We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented. Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding restricted stock units and exercise of outstanding stock options based on the treasury stock method. The computation of diluted earnings per common share excluded 6.4 million stock options for the quarter ended March 31, 2013 because their inclusion would have been anti-dilutive, primarily due to their exercise prices exceeding the average market prices of our common stock. There were no anti-dilutive stock options for the quarter ended March 30, 2014. |
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- Definition
The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BUSINESS SEGMENT INFORMATION
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Mar. 30, 2014
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| BUSINESS SEGMENT INFORMATION | NOTE 3 – BUSINESS SEGMENT INFORMATION We operate in five business segments: Aeronautics, Information Systems & Global Solutions (IS&GS), Missiles and Fire Control, Mission Systems and Training (MST), and Space Systems. We organize our business segments based on the nature of the products and services offered. Net sales of our business segments exclude intersegment sales as these activities are eliminated in consolidation. Intercompany transactions are generally negotiated under terms and conditions that share many similar characteristics (e.g., contract structures, funding profiles, target cost values, contract progress reports) with our third-party contracts, primarily with the U.S. Government. Operating profit of our business segments includes our share of earnings or losses from equity method investees because the operating activities of the equity method investees are closely aligned with the operations of our business segments. United Launch Alliance (ULA), which is part of our Space Systems business segment, is our primary equity method investee. Operating profit of our business segments excludes the FAS/CAS pension adjustment described below; expense for stock-based compensation; the effects of items not considered part of management’s evaluation of segment operating performance, such as charges related to significant severance actions (Note 8, under the caption “Restructuring Charges”) and goodwill impairments; gains or losses from divestitures; the effects of certain legal settlements; corporate costs not allocated to our business segments; and other miscellaneous corporate activities. These items are included in the reconciling item “Unallocated, net” between operating profit from our business segments and our consolidated operating profit. Our business segments’ results of operations include pension expense only as calculated under U.S. Government Cost Accounting Standards (CAS), which we refer to as CAS cost. We recover CAS cost through the pricing of our products and services on U.S. Government contracts and, therefore, the CAS cost is recognized in each of our business segments’ net sales and cost of sales. Since our consolidated financial statements must present pension expense calculated in accordance with the financial accounting standards (FAS) requirements under GAAP, which we refer to as FAS pension expense, the FAS/CAS pension adjustment increases or decreases the CAS pension expense recorded in our business segments’ results of operations to equal the FAS pension expense. As a result, to the extent that CAS cost exceeds FAS pension expense, which occurred for the quarter ended March 30, 2014, we have FAS/CAS pension income and, conversely, to the extent FAS pension expense exceeds CAS cost, which occurred for the quarter ended March 31, 2013, we have FAS/CAS pension expense. Summary operating results for each of our business segments were as follows (in millions):
Total assets for each of our business segments were as follows (in millions):
Our Aeronautics business segment includes our largest program, the F-35 Lightning II Joint Strike Fighter, an international multi-role, multi-variant, stealth fighter aircraft. Net sales for the F-35 program represented approximately 16% and 15% of our total consolidated net sales for the quarters ended March 30, 2014 and March 31, 2013. |
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| X | ||||||||||
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INVENTORIES, NET
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 30, 2014
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| INVENTORIES, NET | NOTE 4 – INVENTORIES, NET Inventories, net consisted of the following (in millions):
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| X | ||||||||||
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- Definition
The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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POSTRETIREMENT BENEFIT PLANS
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Mar. 30, 2014
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| POSTRETIREMENT BENEFIT PLANS | NOTE 5 – POSTRETIREMENT BENEFIT PLANS The components of our pretax net periodic benefit costs for our qualified defined benefit pension plans and retiree medical and life insurance plans were as follows (in millions):
The recognized net actuarial losses and the amortization of prior service cost (credit) in the table above, as well as similar costs related to our other postretirement benefit plans, reflect costs that were recorded as a component of net periodic benefit cost for the period. These costs totaled $167 million (net of $91 million of tax expense) for the quarter ended March 30, 2014 and $254 million (net of $139 million of tax expense) for the quarter ended March 31, 2013, which are recorded on our Statements of Comprehensive Income as an increase to comprehensive income. We determine funding requirements for our defined benefit pension plans in a manner consistent with CAS and the Employee Retirement Income Security Act of 1974 (ERISA), as amended by the Pension Protection Act of 2006. There were no contributions to either our qualified defined benefit pension plans or our retiree medical and life insurance plans during the quarters ended March 30, 2014 and March 31, 2013. We currently plan to make total contributions of $1.0 billion related to our qualified defined benefit pension plans in 2014, of which contributions of $515 million were made early in the second quarter of 2014. We do not expect to make any contributions to our retiree medical and life insurance plans in 2014. |
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| X | ||||||||||
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- Definition
The entire disclosure for pension and other postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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LEGAL PROCEEDINGS AND CONTINGENCIES
|
3 Months Ended |
|---|---|
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Mar. 30, 2014
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| LEGAL PROCEEDINGS AND CONTINGENCIES | NOTE 6 – LEGAL PROCEEDINGS AND CONTINGENCIES We are a party to or have property subject to litigation and other proceedings that arise in the ordinary course of our business, including matters arising under provisions relating to the protection of the environment, and are subject to contingencies related to certain businesses we previously owned. These types of matters could result in fines, penalties, compensatory or treble damages or non-monetary relief. We believe the probability is remote that the outcome of each of these matters, including the legal proceedings discussed below, will have a material adverse effect on the Corporation as a whole, notwithstanding that the unfavorable resolution of any matter may have a material effect on our net earnings in any particular interim reporting period. Among the factors that we consider in this assessment are the nature of existing legal proceedings and claims, the asserted or possible damages or loss contingency (if estimable), the progress of the case, existing law and precedent, the opinions or views of legal counsel and other advisers, our experience in similar cases and the experience of other companies, the facts available to us at the time of assessment, and how we intend to respond to the proceeding or claim. Our assessment of these factors may change over time as individual proceedings or claims progress.
Although we cannot predict the outcome of legal or other proceedings with certainty, GAAP requires us to disclose an estimate of the reasonably possible loss or range of loss or make a statement that such an estimate cannot be made for contingencies where there is at least a reasonable possibility that a loss may have been incurred. We have a thorough process to determine an estimate of the reasonably possible loss or range of loss before we conclude and disclose that an estimate cannot be made. Accordingly, unless otherwise indicated below in our discussion of legal proceedings, a reasonably possible loss or range of loss associated with any individual legal proceeding cannot be estimated. Legal Proceedings On April 24, 2009, we filed a declaratory judgment action against the New York Metropolitan Transportation Authority and its Capital Construction Company (collectively, the MTA) asking the U.S. District Court for the Southern District of New York to find that the MTA is in material breach of our agreement based on the MTA’s failure to provide access to sites where work must be performed and customer-furnished equipment necessary to complete the contract. The MTA filed an answer and counterclaim alleging that we breached the contract, and subsequently terminated the contract for alleged default. The primary damages sought by the MTA are the cost to complete the contract and potential re-procurement costs. While we are unable to estimate the cost of another contractor to complete the contract and the costs of re-procurement, we note that our contract with the MTA had a total value of $323 million, of which $241 million was paid to us. We dispute the MTA’s allegations and are defending against them. Additionally, following an investigation, our sureties on a performance bond related to this matter, who were represented by independent counsel, concluded that the MTA’s termination of the contract was improper. Finally, our declaratory judgment action was later amended to include claims for monetary damages against the MTA. A bench trial of this matter is scheduled to begin on July 7, 2014. On August 28, 2003, the U.S. Department of Justice (DOJ) filed complaints in partial intervention in two lawsuits filed under the civil qui tam provisions of the False Claims Act in the U.S. District Court for the Western District of Kentucky, United States ex rel. Natural Resources Defense Council, et al., v. Lockheed Martin Corporation, et al., and United States ex rel. John D. Tillson v. Lockheed Martin Energy Systems, Inc., et al. The DOJ alleges that we committed violations of the Resource Conservation and Recovery Act at the Paducah Gaseous Diffusion Plant by not properly handling, storing, and transporting hazardous waste and that we violated the False Claims Act by misleading Department of Energy officials and state regulators about the nature and extent of environmental noncompliance at the plant. The complaint does not allege a specific calculation of damages. On April 16, 2013, the parties attended a settlement conference ordered by the magistrate judge. The conference focused on the parties’ sharply differing views of the merits of the case and did not significantly contribute to our understanding of the damages sought. Accordingly, we cannot estimate the reasonably possible loss, or range of loss, which could be incurred if the plaintiffs were to prevail in the allegations, but believe that we have substantial defenses. We dispute the allegations and are defending against them. Environmental Matters We are involved in environmental proceedings and potential proceedings relating to soil and groundwater contamination, disposal of hazardous waste, and other environmental matters at several of our current or former facilities, or at third-party sites where we have been designated as a potentially responsible party (PRP). A substantial portion of environmental costs will be included in our net sales and cost of sales in future periods pursuant to U.S. Government regulations. At the time a liability is recorded for future environmental costs, we record a receivable for estimated future recovery considered probable through the pricing of products and services to agencies of the U.S. Government, regardless of the contract form (e.g., cost-reimbursable, fixed-price). We continuously evaluate the recoverability of our environmental receivables by assessing, among other factors, U.S. Government regulations, our U.S. Government business base and contract mix, and our history of receiving reimbursement of such costs. We include the portion of those environmental costs expected to be allocated to our non-U.S. Government contracts, or that is determined to be unallowable for pricing under U.S. Government contracts, in our cost of sales at the time the liability is established.
At March 30, 2014 and December 31, 2013, the aggregate amount of liabilities recorded relative to environmental matters was $1.0 billion and $997 million, most of which are recorded in other noncurrent liabilities on our Balance Sheets. We have recorded receivables totaling $874 million and $863 million at March 30, 2014 and December 31, 2013, most of which are recorded in other noncurrent assets on our Balance Sheets, for the estimated future recovery of these costs, as we consider the recovery probable based on the factors previously mentioned. We project costs and recovery of costs over approximately 20 years. Environmental cleanup activities usually span several years, which makes estimating liabilities a matter of judgment because of uncertainties with respect to assessing the extent of the contamination as well as such factors as changing remediation technologies and continually evolving regulatory environmental standards. There are a number of former operating facilities that we are monitoring or investigating for potential future remediation. We perform quarterly reviews of the status of our environmental remediation sites and the related liabilities and receivables. Additionally, in our quarterly reviews we consider these and other factors in estimating the timing and amount of any future costs that may be required for remediation activities and record a liability when it is probable that a loss has occurred and the loss can be reasonably estimated. The amount of liability recorded is based on our estimate of the costs to be incurred for remediation at a particular site. We do not discount the recorded liabilities, as the amount and timing of future cash payments are not fixed or cannot be reliably determined. We reasonably cannot determine the extent of our financial exposure in all cases as, although a loss may be probable or reasonably possible, in some cases it is not possible at this time to estimate the loss or reasonably possible loss or range of loss. We also are pursuing claims for recovery of costs incurred or contribution to site cleanup costs against other PRPs, including the U.S. Government, and are conducting remediation activities under various consent decrees and orders relating to soil, groundwater, sediment, or surface water contamination at certain sites of former or current operations. Under an agreement related to our Burbank and Glendale, California, sites, the U.S. Government reimburses us an amount equal to approximately 50% of expenditures for certain remediation activities in its capacity as a PRP under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). California and the U.S. Environmental Protection Agency (U.S. EPA) are each evaluating the need to regulate hexavalent chromium in drinking water, distinct from the current California standard which regulates total chromium, of which hexavalent chromium is a component. On April 15, 2014, the California Department of Public Health submitted its final regulation which, if it becomes enforceable, will separately regulate hexavalent chromium and sets the maximum level at 10 parts per billion (ppb). If the new standard remains at 10 ppb, it will not have a material impact on our existing remediation costs in California. However, we cannot predict the outcome of California’s regulatory proceedings and expect that environmental groups and the regulated community may each institute litigation opposing the new standard. In addition, California is also reevaluating its existing drinking water standard with respect to a second contaminant, perchlorate, and the U.S. EPA is also considering whether to regulate that contaminant in drinking water. If substantially lower standards are adopted, in either California or at the federal level, for perchlorate or, if the U.S. EPA were to adopt a standard for hexavalent chromium lower than 10 ppb, we expect a material increase in our estimates for environmental liabilities and the related assets for the portion of the increased costs that are probable of future recovery in the pricing of our products and services for the U.S. Government. The amount that would be allocable to our non-U.S. Government contracts or that is determined to be unallowable for pricing under U.S. Government contracts would be expensed, which may have a material effect on our earnings in any particular interim reporting period. Letters of Credit, Surety Bonds, and Third-Party Guarantees We have entered into standby letters of credit, surety bonds, and third-party guarantees with financial institutions and other third parties primarily relating to advances received from customers and the guarantee of future performance on certain contracts. Letters of credit and surety bonds generally are available for draw down in the event we do not perform. In some cases, we may guarantee the contractual performance of third parties such as venture partners. We had total outstanding letters of credit, surety bonds, and third-party guarantees aggregating $2.5 billion and $2.4 billion at March 30, 2014 and December 31, 2013.
At March 30, 2014 and December 31, 2013, third-party guarantees totaled $804 million and $696 million, of which approximately 90% related to guarantees of contractual performance of ventures to which we currently are or previously were a party. This amount represents our estimate of the maximum amount we would expect to incur upon the contractual non-performance of the venture partners. In addition, we generally have cross-indemnities in place that may enable us to recover amounts that may be paid on behalf of a venture partner. We believe our current and former venture partners will be able to perform their obligations, as they have done through March 30, 2014, and that it will not be necessary to make payments under the guarantees. In determining our exposures, we evaluate the reputation, technical capabilities, and credit quality of our current and former venture partners. United Launch Alliance In connection with our 50% ownership interest of ULA, we and The Boeing Company (Boeing) have each received distributions from ULA, including distributions of $527 million that we and Boeing have each received (since ULA’s formation in December 2006) which are subject to agreements between us, Boeing, and ULA, whereby, if ULA does not have sufficient cash resources or credit capacity to make required payments under the inventory supply agreement it has with Boeing, both we and Boeing would provide to ULA, in the form of an additional capital contribution, the level of funding required for ULA to make those payments. Any such capital contributions would not exceed the amount of the distributions subject to the agreements. Based on current expectations of ULA’s cash flow needs, we currently believe that ULA should have sufficient operating cash flows and credit capacity, including access to its $560 million revolving credit agreement from third-party financial institutions, to meet its obligations such that we would not be required to make a contribution under these agreements. In addition, both we and Boeing have cross-indemnified each other for guarantees by us and Boeing of the performance and financial obligations of ULA under certain launch service contracts. We believe ULA will be able to fully perform its obligations, as it has done through March 30, 2014, and that it will not be necessary to make payments under the cross-indemnities or guarantees. |
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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE MEASUREMENTS
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Mar. 30, 2014
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| FAIR VALUE MEASUREMENTS | NOTE 7 – FAIR VALUE MEASUREMENTS Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following (in millions):
Substantially all assets measured at fair value, other than derivatives, represent investments classified as trading securities held in a separate trust to fund certain of our non-qualified deferred compensation plans and are recorded in other noncurrent assets on our Balance Sheets. The fair values of equity securities and mutual funds are determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. The fair values of U.S. Government and other securities are determined using model-derived valuations in which all significant inputs are observable in active markets. The fair values of derivative instruments, which consist of foreign currency exchange forward and interest rate swap contracts, primarily are determined based on the present value of future cash flows using model-derived valuations that use observable inputs such as interest rates, credit spreads, and foreign currency exchange rates. We did not have any transfers of assets or liabilities between levels of the fair value hierarchy during the quarter ended March 30, 2014. We use derivative instruments principally to reduce our exposure to market risks from changes in foreign currency exchange rates and interest rates. We do not enter into or hold derivative instruments for speculative trading purposes. We transact business globally and are subject to risks associated with changing foreign currency exchange rates. We enter into foreign currency hedges such as forward and option contracts that change in value as foreign currency exchange rates change. These contracts hedge forecasted foreign currency transactions in order to mitigate fluctuations in our earnings and cash flows associated with changes in foreign currency exchange rates. We designate foreign currency hedges as cash flow hedges. We also are exposed to the impact of interest rate changes primarily through our borrowing activities. For fixed rate borrowings, we may use variable interest rate swaps, effectively converting fixed rate borrowings to variable rate borrowings in order to reduce the amount of interest paid. These swaps are designated as fair value hedges. For variable rate borrowings, we may use fixed interest rate swaps, effectively converting variable rate borrowings to fixed rate borrowings in order to mitigate the impact of interest rate changes on earnings. These swaps are designated as cash flow hedges. We may also enter into derivative instruments that are not designated as hedges and do not qualify for hedge accounting, which are intended to mitigate certain economic exposures. The aggregate notional amount of our outstanding foreign currency hedges at March 30, 2014 and December 31, 2013 was $1.1 billion and $1.0 billion. The aggregate notional amount of our outstanding interest rate swaps at March 30, 2014 and December 31, 2013 was $1.3 billion and $1.2 billion. Derivative instruments did not have a material impact on net earnings and comprehensive income during the quarters ended March 30, 2014 and March 31, 2013. Substantially all of our derivatives are designated for hedge accounting. In addition to the financial instruments listed in the table above, we hold other financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and debt. The carrying amounts for cash and cash equivalents, accounts receivable, and accounts payable approximated their fair values. The estimated fair value of our outstanding debt was $7.6 billion and $7.4 billion at March 30, 2014 and December 31, 2013, and the outstanding principal amount was $7.0 billion at both March 30, 2014 and December 31, 2013, excluding unamortized discounts of $880 million and $882 million. The estimated fair values of our outstanding debt were determined based on quoted prices for similar instruments in active markets (Level 2 inputs). |
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- Definition
The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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OTHER
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Mar. 30, 2014
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| OTHER | NOTE 8 – OTHER Changes in Estimates Accounting for contracts using the percentage-of-completion method requires judgment relative to assessing risks, estimating contract sales and costs (including estimating award and incentive fees and penalties related to performance), and making assumptions for schedule and technical issues. Due to the number of years it may take to complete many of our contracts and the scope and nature of the work required to be performed on those contracts, the estimation of total sales and costs at completion is complicated and subject to many variables and, accordingly, is subject to change. When adjustments in estimated total contract sales or estimated total costs are required, any changes from prior estimates are recognized in the current period for the inception-to-date effect of such changes. When estimates of total costs to be incurred on a contract exceed estimates of total sales to be earned, a provision for the entire loss on the contract is recorded in the period in which the loss is determined. Many of our contracts span several years and include highly complex technical requirements. At the outset of a contract, we identify and monitor risks to the achievement of the technical, schedule, and cost aspects of the contract, and assess the effects of those risks on our estimates of total costs to complete the contract. The estimates consider the technical requirements (e.g., a newly-developed product versus a mature product), the schedule and associated tasks (e.g., the number and type of milestone events), and costs (e.g., material, labor, subcontractor, and overhead). The initial profit booking rate of each contract considers risks surrounding the ability to achieve the technical requirements, schedule, and costs in the initial estimated total costs to complete. Profit booking rates may increase during the performance of the contract if we successfully retire risks surrounding the technical, schedule, and cost aspects of the contract. Conversely, our profit booking rates may decrease if the estimated total costs to complete the contract increase. All of the estimates are subject to change during the performance of the contract and may affect the profit booking rate.
In addition, comparability of our segment sales, operating profit, and operating margins may be impacted by changes in profit booking rates on our contracts accounted for using the percentage-of-completion method of accounting. Segment operating profit and margins may also be impacted, favorably or unfavorably, by other matters such as the resolution of contractual matters; restructuring charges, except for significant severance actions as mentioned below; cost recoveries on all restructuring charges; reserves for disputes; asset impairments; and insurance recoveries; among others. Our consolidated net adjustments not related to volume, including net profit booking rate adjustments and other matters, increased segment operating profit, net of state income taxes, by approximately $525 million and $470 million for the quarters ended March 30, 2014 and March 31, 2013. These adjustments increased net earnings by approximately $340 million ($1.05 per share) and $305 million ($.93 per share) for the quarters ended March 30, 2014 and March 31, 2013. Stockholders’ Equity Repurchases of Common Stock During the quarter ended March 30, 2014, we repurchased 7.0 million shares of our common stock for $1.1 billion. We had total remaining authorization of $2.5 billion for future common share repurchases under our program as of March 30, 2014. As we repurchase our common shares, we reduce common stock for the $1 of par value of the shares repurchased, with the excess purchase price over par value recorded as a reduction of additional paid-in capital. If additional paid-in capital is reduced to zero, we record the remainder of the excess purchase price over par value as a reduction of retained earnings. Restricted Stock Unit and Performance Stock Unit Grants In January 2014, we granted certain employees approximately 0.7 million restricted stock units (RSUs) with a grant-date fair value of $146.85 per RSU. The grant-date fair value of these RSUs is equal to the closing market price of our common stock on the grant date less a discount to reflect the delay in payment of dividend-equivalent cash payments that are made only upon vesting, which is generally three years from the grant date. We recognize the grant-date fair value of RSUs, less estimated forfeitures, as compensation expense ratably over the requisite service period, which is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period. In January 2014, we also granted certain employees performance stock units (PSUs) with an aggregate target award of approximately 0.2 million shares of our common stock. The PSUs vest three years from the grant date based on continuous service, with the number of shares earned (0% to 200% of the target award) depending upon the extent to which we achieve certain financial and market performance targets measured over the period from January 1, 2014 through December 31, 2016. About half of the PSUs were valued at $146.85 per PSU in a manner similar to RSUs discussed above as the financial targets are based on our operating results. We recognize the grant-date fair value of these PSUs, less estimated forfeitures, as compensation expense ratably over the vesting period based on the number of awards expected to vest at each reporting date. The remaining PSUs were valued at $134.15 per PSU using a Monte Carlo model as the performance target is related to our total shareholder return relative to our peer group. We recognize the grant-date fair value of these awards, less estimated forfeitures, as compensation expense ratably over the vesting period. Dividends We declared cash dividends totaling $428 million ($1.33 per share) and $371 million ($1.15 per share) for the quarters ended March 30, 2014 and March 31, 2013.
Accumulated Other Comprehensive Loss Changes in the balance of accumulated other comprehensive loss (AOCL), net of tax, consisted of the following (in millions):
Income Taxes Our effective income tax rates were 30.8% and 25.8% for the quarters ended March 30, 2014 and March 31, 2013. The rates for both periods benefited from tax deductions for U.S. manufacturing activities and for dividends paid to our defined contribution plans with an employee stock ownership plan feature. Additionally, our effective tax rate for the quarter ended March 31, 2013 benefited from $46 million ($.14 per share) in U.S. research and development (R&D) tax credits, which included the full-year 2012 credits and one quarter of the 2013 credits. The American Taxpayer Relief Act, enacted in January 2013, reinstated the R&D tax credit for 2012 and 2013. The R&D tax credit expired on December 31, 2013 and, therefore, we will not recognize its benefits in 2014 unless and until legislation is enacted. We received net tax refunds of approximately $200 million and $540 million during the quarters ended March 30, 2014 and March 31, 2013, primarily attributable to our tax-deductible pension contributions made during the quarters ended December 31, 2013 and 2012. Restructuring Charges Fourth Quarter 2013 Action In November 2013, we committed to a plan to close and consolidate certain facilities and reduce our total workforce by approximately 4,000 positions within our IS&GS, MST, and Space Systems business segments. This plan resulted from a strategic review of our facilities capacity and future workload projections and is intended to better align our organization and cost structure and improve the affordability of our products and services given the changes in U.S. Government spending as well as the rapidly changing competitive and economic landscape.
We expect to incur total accelerated costs (e.g., accelerated depreciation expense related to long-lived assets at the sites to be closed) and incremental costs (e.g., relocation of equipment and other employee related costs) of approximately $15 million, $50 million, and $135 million at our IS&GS, MST, and Space Systems business segments through the completion of this plan in 2015. As of March 30, 2014, we have incurred costs of approximately $30 million, inclusive of amounts incurred during the quarter ended March 30, 2014. The accelerated and incremental costs are recorded as incurred in cost of sales on our Statement of Earnings and included in the respective business segment’s results of operations. During the quarter ended December 31, 2013, we incurred severance charges of $171 million, net of state tax benefits, of which $53 million, $37 million, and $81 million related to our IS&GS, MST, and Space Systems business segments. Upon separation, terminated employees receive lump-sum severance payments primarily based on years of service. As of March 30, 2014, we have paid approximately $50 million in severance payments associated with this action, including approximately $35 million paid during the quarter ended March 30, 2014. The remaining severance payments are expected to be paid through the middle of 2015. We expect to recover a substantial amount of the restructuring charges through the pricing of our products and services to the U.S. Government and other customers, with the impact included in the respective business segment’s results of operations. First Quarter 2013 Action During the quarter ended March 31, 2013, we recorded severance charges totaling $30 million, net of state tax benefits, related to our IS&GS business segment, which reduced our net earnings by $19 million ($.06 per share). These severance actions resulted from a strategic review of this business segment to better align our cost structure with changing economic conditions and also reflect changes in program lifecycles. The charges consisted of severance costs associated with the planned elimination of certain positions through either voluntary or involuntary actions. Upon separation, terminated employees received lump-sum severance payments primarily based on years of service, all of which were paid in 2013. |
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- Definition
Includes disclosures related to various items. No definition available.
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EARNINGS PER COMMON SHARE (Tables)
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Mar. 30, 2014
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| Schedule of Weighted Average Shares Outstanding Used to Compute Earnings Per Common Share | The weighted average number of shares outstanding used to compute earnings per common share were as follows (in millions):
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- Definition
Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BUSINESS SEGMENT INFORMATION (Tables)
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Mar. 30, 2014
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| Summary of Financial Information for Each Business Segment | Summary operating results for each of our business segments were as follows (in millions):
Total assets for each of our business segments were as follows (in millions):
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- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INVENTORIES, NET (Tables)
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Mar. 30, 2014
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| Inventories | Inventories, net consisted of the following (in millions):
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- Definition
Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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POSTRETIREMENT BENEFIT PLANS (Tables)
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Mar. 30, 2014
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| Components of Pretax Net Periodic Benefit Costs | The components of our pretax net periodic benefit costs for our qualified defined benefit pension plans and retiree medical and life insurance plans were as follows (in millions):
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- Definition
Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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FAIR VALUE MEASUREMENTS (Tables)
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Mar. 30, 2014
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| Fair Value, Assets and Liabilities Measured on Recurring Basis | Assets and liabilities measured and recorded at fair value on a recurring basis consisted of the following (in millions):
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- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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OTHER (Tables)
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3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Mar. 30, 2014
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Loss | Changes in the balance of accumulated other comprehensive loss (AOCL), net of tax, consisted of the following (in millions):
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Schedule of Weighted Average Shares Outstanding Used to Compute Earnings Per Common Share (Detail)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 30, 2014
|
Mar. 31, 2013
|
|
| Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items] | ||
| Weighted average common shares outstanding for basic computations | 319.1 | 321.7 |
| Weighted average dilutive effect of equity awards | 6.0 | 4.6 |
| Weighted average common shares outstanding for diluted computations | 325.1 | 326.3 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings Per Common Share - Additional Information (Detail)
In Millions, unless otherwise specified |
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |
| Stock options excluded from the computation of diluted earnings per common share, because their inclusion would have been anti-dilutive | 6.4 |
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Business Segment Information - Additional Information (Detail)
|
3 Months Ended | |
|---|---|---|
|
Mar. 30, 2014
|
Mar. 31, 2013
|
|
| Segment Reporting Information [Line Items] | ||
| Number of business segments | 5 | |
|
F-35 program | Aeronautics
|
||
| Segment Reporting Information [Line Items] | ||
| Program net sales as percent of total net sales | 16.00% | 15.00% |
| X | ||||||||||
|
- Definition
Program net sales as percent of total net sales. No definition available.
|
| X | ||||||||||
|
- Definition
Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Summary of Financial Information for Each Business Segment (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 30, 2014
|
Dec. 31, 2013
|
Mar. 31, 2013
|
||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total net sales | $ 10,650 | $ 11,070 | ||||||||||
| Less: CAS cost | 399 | 366 | ||||||||||
| FAS/CAS pension income (expense) | 86 | [1] | (121) | [1] | ||||||||
| Severance charges | (171) | (30) | [2] | |||||||||
| Stock-based compensation | (48) | (53) | ||||||||||
| Other, net | (35) | (20) | ||||||||||
| Total unallocated, net | 3 | (224) | ||||||||||
| Operating profit | 1,432 | 1,119 | ||||||||||
| Total assets | 36,919 | 36,188 | ||||||||||
|
Qualified defined benefit pension plans
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| FAS pension expense | (313) | (487) | ||||||||||
|
Information Systems & Global Solutions
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Severance charges | (53) | |||||||||||
|
Mission Systems and Training
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Severance charges | (37) | |||||||||||
|
Space Systems
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Severance charges | (81) | |||||||||||
|
Business segments
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Operating profit | 1,429 | 1,343 | ||||||||||
| Total assets | 26,017 | 25,812 | ||||||||||
|
Business segments | Aeronautics
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total net sales | 3,386 | 3,186 | ||||||||||
| Operating profit | 393 | 379 | ||||||||||
| Total assets | 5,892 | 5,821 | ||||||||||
|
Business segments | Information Systems & Global Solutions
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total net sales | 1,910 | 2,106 | ||||||||||
| Operating profit | 174 | 189 | ||||||||||
| Total assets | 5,834 | 5,798 | ||||||||||
|
Business segments | Missiles and Fire Control
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total net sales | 1,867 | 1,988 | ||||||||||
| Operating profit | 358 | 344 | ||||||||||
| Total assets | 4,065 | 4,159 | ||||||||||
|
Business segments | Mission Systems and Training
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total net sales | 1,628 | 1,830 | ||||||||||
| Operating profit | 250 | 201 | ||||||||||
| Total assets | 6,450 | 6,512 | ||||||||||
|
Business segments | Space Systems
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total net sales | 1,859 | 1,960 | ||||||||||
| Operating profit | 254 | 230 | ||||||||||
| Total assets | 3,776 | 3,522 | ||||||||||
|
Intersegment elimination
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total intersegment sales | 632 | 543 | ||||||||||
|
Intersegment elimination | Aeronautics
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total intersegment sales | 27 | 50 | ||||||||||
|
Intersegment elimination | Information Systems & Global Solutions
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total intersegment sales | 176 | 190 | ||||||||||
|
Intersegment elimination | Missiles and Fire Control
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total intersegment sales | 87 | 53 | ||||||||||
|
Intersegment elimination | Mission Systems and Training
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total intersegment sales | 315 | 227 | ||||||||||
|
Intersegment elimination | Space Systems
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total intersegment sales | 27 | 23 | ||||||||||
|
Corporate
|
||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||
| Total assets | $ 10,902 | [3] | $ 10,376 | [3] | ||||||||
|
||||||||||||
| X | ||||||||||
|
- Definition
This item represents the difference between pension expense calculated for financial reporting purposes under GAAP and pension costs calculated and funded in accordance with U.S. Government Cost Accounting Standards (CAS). No definition available.
|
| X | ||||||||||
|
- Definition
The amount of other unallocated expenses, net. No definition available.
|
| X | ||||||||||
|
- Definition
Pension expense calculated under U.S. Government Cost Accounting Standards. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are voluntarily and involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. No definition available.
|
| X | ||||||||||
|
- Definition
Total amount of unallocated items, net. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Inventories (Detail) (USD $)
In Millions, unless otherwise specified |
Mar. 30, 2014
|
Dec. 31, 2013
|
|---|---|---|
| Inventory [Line Items] | ||
| Work-in-process, primarily related to long-term contracts and programs in progress | $ 7,080 | $ 7,073 |
| Less: customer advances and progress payments | (4,866) | (4,834) |
| Inventory for long term contracts or programs net of customer advances and progress payments | 2,214 | 2,239 |
| Other inventories | 735 | 738 |
| Total inventories, net | $ 2,949 | $ 2,977 |
| X | ||||||||||
|
- Definition
Inventories associated with long-term contracts or programs, net of customer advances and progress payments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount before valuation and LIFO reserves, and progress payments, of inventory associated with long-term contracts, expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount (lower of cost or market) of inventories less all valuation, other allowances, and progress payments or customer advances received on long-term contracts or programs. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). No definition available.
|
| X | ||||||||||
|
- Definition
Amount before valuation and LIFO reserves of other inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of advances received from customers under long-term contracts which have been offset against inventories accounts at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Components of Pretax Net Periodic Benefit Costs (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 30, 2014
|
Mar. 31, 2013
|
|
|
Qualified defined benefit pension plans
|
||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Service cost | $ 243 | $ 286 |
| Interest cost | 488 | 450 |
| Expected return on plan assets | (660) | (622) |
| Recognized net actuarial losses | 221 | 353 |
| Amortization of prior service cost (credit) | 21 | 20 |
| Total net periodic benefit cost | 313 | 487 |
|
Retiree medical and life insurance plans
|
||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Service cost | 5 | 7 |
| Interest cost | 31 | 29 |
| Expected return on plan assets | (36) | (36) |
| Recognized net actuarial losses | 6 | 11 |
| Amortization of prior service cost (credit) | 1 | (5) |
| Total net periodic benefit cost | $ 7 | $ 6 |
| X | ||||||||||
|
- Definition
The amount of gains or losses recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Postretirement Benefit Plans - Additional Information (Detail) (USD $)
|
3 Months Ended | 1 Months Ended | ||
|---|---|---|---|---|
|
Mar. 30, 2014
|
Mar. 31, 2013
|
Mar. 30, 2014
Qualified defined benefit pension plans
|
Apr. 23, 2014
Qualified defined benefit pension plans
Subsequent Event
|
|
| Defined Benefit Plan Disclosure [Line Items] | ||||
| Recognition of previously deferred postretirement benefit plan amounts | $ 167,000,000 | $ 254,000,000 | ||
| Recognition of previously deferred postretirement benefit plan amounts, tax | 91,000,000 | 139,000,000 | ||
| Planned defined benefit plan contributions by employer in current fiscal year | 1,000,000,000 | |||
| Contributions made by the employer | $ 515,000,000 | |||
| X | ||||||||||
|
- Definition
The increase in the fair value of plan assets from contributions made by the employer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of employer's best estimate of contributions expected to be paid to the plan in the current remaining fiscal period. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive (income) loss related to net period benefit cost (credit) for pension and other postretirement defined benefit plans. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of tax (expense) benefit of reclassification adjustment from accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. No definition available.
|
|
Legal Proceedings and Contingencies - Additional Information (Detail) (USD $)
|
3 Months Ended | 87 Months Ended | |||
|---|---|---|---|---|---|
|
Mar. 30, 2014
|
Dec. 31, 2013
|
Mar. 30, 2014
N.Y. Metropolitan Transportation Authority
|
Apr. 24, 2009
N.Y. Metropolitan Transportation Authority
|
Mar. 30, 2014
United Launch Alliance
|
|
| Site Contingency [Line Items] | |||||
| Contract value | $ 323,000,000 | ||||
| Contract payments received to date | 241,000,000 | ||||
| Liabilities recorded relative to environmental matters | 1,000,000,000 | 997,000,000 | |||
| Environmental costs eligible for future recovery | 874,000,000 | 863,000,000 | |||
| Time period environmental costs and recovery of environmental costs are projected over, years | 20 years | ||||
| Percentage of expenditures that are reimbursed for certain remediation activities | 50.00% | ||||
| Outstanding letters of credit, surety bonds, and third-party guarantees | 2,500,000,000 | 2,400,000,000 | |||
| Third-party guarantees outstanding | 804,000,000 | 696,000,000 | |||
| Percentage of total guarantees that relate to guarantees of contractual performance of joint ventures | 90.00% | 90.00% | |||
| Percentage of ownership interest in affiliated entity | 50.00% | ||||
| Dividends that are subject to contingency | 527,000,000 | ||||
| Revolving line of credit | $ 560,000,000 |
| X | ||||||||||
|
- Definition
Contract payments received to date. No definition available.
|
| X | ||||||||||
|
- Definition
Total contract value. No definition available.
|
| X | ||||||||||
|
- Definition
Dividends from equity method investment that are subject to contingency. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate total amount of outstanding letters of credit, surety bonds, and third-party guarantees. No definition available.
|
| X | ||||||||||
|
- Definition
Approximate percentage of expenditures to be reimbursed for certain remediation activities. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of total guarantees that relate to guarantees of contractual performance of joint ventures to which we currently are or previously were a party. No definition available.
|
| X | ||||||||||
|
- Definition
Time period environmental costs and recovery of environmental costs are projected over. No definition available.
|
| X | ||||||||||
|
- Definition
Total costs accrued as of the balance sheet date for environmental loss contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of known and reasonably estimable amounts of recoveries from third-parties pertaining to an entity's environmental remediation obligations. An entity's balance sheet may include several assets that relate to an environmental remediation obligation. Among them are the following: a. Receivables from other potentially responsible parties that are not providing initial funding; b. anticipated recoveries from insurers; and c. anticipated recoveries from prior owners as a result of indemnification agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Fair Value, Assets and Liabilities Measured on Recurring Basis (Detail) (Fair Value, Measurements, Recurring, USD $)
In Millions, unless otherwise specified |
Mar. 30, 2014
|
Dec. 31, 2013
|
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative assets | $ 21 | $ 28 |
| Derivative liabilities | 14 | 23 |
|
Equity securities
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair value of investments measured on recurring basis | 103 | 77 |
|
Mutual funds
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair value of investments measured on recurring basis | 562 | 613 |
|
U.S. Government securities
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair value of investments measured on recurring basis | 229 | 238 |
|
Other securities
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair value of investments measured on recurring basis | 128 | 131 |
|
Fair value, inputs, level 1 | Equity securities
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair value of investments measured on recurring basis | 103 | 77 |
|
Fair value, inputs, level 1 | Mutual funds
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair value of investments measured on recurring basis | 562 | 613 |
|
Fair value, inputs, level 2
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative assets | 21 | 28 |
| Derivative liabilities | 14 | 23 |
|
Fair value, inputs, level 2 | U.S. Government securities
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair value of investments measured on recurring basis | 229 | 238 |
|
Fair value, inputs, level 2 | Other securities
|
||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Fair value of investments measured on recurring basis | $ 128 | $ 131 |
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements - Additional Information (Detail) (USD $)
|
Mar. 30, 2014
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Dec. 31, 2013
|
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Estimated fair values of debt instruments | $ 7,600,000,000 | $ 7,400,000,000 |
| Outstanding principal amount of debt instrument | 7,000,000,000 | 7,000,000,000 |
| Unamortized discount on long-term debt | 880,000,000 | 882,000,000 |
|
Foreign currency contracts | Designated as hedges
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||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Aggregate notional amount of derivatives | 1,100,000,000 | 1,000,000,000 |
|
Interest rate swaps | Designated as hedges
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||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Aggregate notional amount of derivatives | $ 1,300,000,000 | $ 1,200,000,000 |
| X | ||||||||||
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- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate unamortized discount on long-term debt, including current and noncurrent amounts. No definition available.
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| X | ||||||||||
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- Definition
Represents the aggregate fair value of total debt. No definition available.
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| X | ||||||||||
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- Definition
Carrying amount of long-term debt, exclusive of unamortized discount or premium, including current and noncurrent amounts. No definition available.
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| X | ||||||||||
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- Details
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|
Other - Additional Information (Detail) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 5 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Mar. 30, 2014
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Dec. 31, 2013
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Mar. 31, 2013
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Mar. 30, 2014
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Nov. 30, 2013
Information Systems & Global Solutions, Mission Systems & Training, and Space Systems
Employee
|
Dec. 31, 2013
Information Systems & Global Solutions
|
Mar. 30, 2014
Information Systems & Global Solutions
Incremental expected costs as a result of the November 2013 restructuring plan
|
Dec. 31, 2013
Mission Systems and Training
|
Mar. 30, 2014
Mission Systems and Training
Incremental expected costs as a result of the November 2013 restructuring plan
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Dec. 31, 2013
Space Systems
|
Mar. 30, 2014
Space Systems
Incremental expected costs as a result of the November 2013 restructuring plan
|
Jan. 31, 2014
Restricted Stock Units (RSUs)
|
Jan. 31, 2014
Performance Stock Units (PSUs)
|
Jan. 31, 2014
Performance Stock Units (PSUs)
Minimum
|
Jan. 31, 2014
Performance Stock Units (PSUs)
Maximum
|
Jan. 31, 2014
Performance Stock Units (PSUs)
Half Of PSUs Granted In Period
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Jan. 31, 2014
Performance Stock Units (PSUs)
Remaining Half Of PSUs Granted In Period
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||||
| Increase in segment operating profit, net of state taxes, from the impact of changes in net profit booking rate adjustments and other matters | $ 525,000,000 | $ 470,000,000 | ||||||||||||||||||
| Increase in net earnings from the impact of changes in net profit booking rate adjustments and other matters | 340,000,000 | 305,000,000 | ||||||||||||||||||
| Increase in diluted earnings per share from the impact of changes in net profit booking rate adjustments and other matters | $ 1.05 | $ 0.93 | ||||||||||||||||||
| Number of shares repurchased under share repurchase program | 7.0 | |||||||||||||||||||
| Value of stock repurchased under share repurchase program | 1,106,000,000 | 477,000,000 | ||||||||||||||||||
| Remaining authorized repurchase amount under share repurchase program | 2,500,000,000 | |||||||||||||||||||
| Common stock par value, per share | $ 1 | $ 1 | $ 1 | |||||||||||||||||
| Additional paid-in capital | ||||||||||||||||||||
| Number of stock units, granted, in shares | 0.7 | 0.2 | ||||||||||||||||||
| Average grant date fair value per unit | $ 146.85 | $ 146.85 | $ 134.15 | |||||||||||||||||
| Number of years over which equity awards vest | 3 years | 3 years | ||||||||||||||||||
| Range of shares that can be earned from stock awards, as a percentage of the target award | 0.00% | 200.00% | ||||||||||||||||||
| Dividends declared | 428,000,000 | 371,000,000 | ||||||||||||||||||
| Dividends declared, per share (in USD) | $ 1.33 | $ 1.15 | ||||||||||||||||||
| Effective income tax rates | 30.80% | 25.80% | ||||||||||||||||||
| Recognized tax benefit for the impact of the tax credit | 46,000,000 | |||||||||||||||||||
| Increase in diluted earnings per share due to R&D tax credit | $ 0.14 | |||||||||||||||||||
| Tax refunds received, net of payments made | 200,000,000 | 540,000,000 | ||||||||||||||||||
| Number of employees terminated | 4,000 | |||||||||||||||||||
| Expected total accelerated and incremental costs | 15,000,000 | 50,000,000 | 135,000,000 | |||||||||||||||||
| Accelerated and incremental costs incurred | 30,000,000 | |||||||||||||||||||
| Severance charges | 171,000,000 | 30,000,000 | [1] | 53,000,000 | 37,000,000 | 81,000,000 | ||||||||||||||
| Severance payments | 35,000,000 | 50,000,000 | ||||||||||||||||||
| Reduction in net earnings due to severance charges | $ 19,000,000 | |||||||||||||||||||
| Decrease in diluted earnings per share due to severance charges | $ 0.06 | |||||||||||||||||||
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||||||||||||||||||||
| X | ||||||||||
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- Definition
Decrease in diluted earnings per share due to severance charges. No definition available.
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| X | ||||||||||
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- Definition
The amount of cash refunded during the current period from foreign and federal authorities for the overpayment of taxes, net of any cash paid during the current period as taxes on income. No definition available.
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| X | ||||||||||
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- Definition
Increase in diluted earnings per share, in USD, as a result of research tax credits generated or utilized under enacted tax laws during the period. No definition available.
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| X | ||||||||||
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- Definition
The increase in diluted earnings per share from the impact of changes in the estimated profit booking rates on our contracts accounted for using the percentage-of-completion method of accounting and other matters such as the resolution of contractual matters, reserves for disputes, asset impairments and insurance recoveries, among others. No definition available.
|
| X | ||||||||||
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- Definition
Increase in net earnings from the impact of changes in the estimated profit booking rates on our contracts accounted for using the percentage-of-completion method of accounting and other matters such as the resolution of contractual matters, reserves for disputes, asset impairments and insurance recoveries, among others. No definition available.
|
| X | ||||||||||
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- Definition
Increase in segment operating profit from the impact of changes in the estimated profit booking rates on our contracts accounted for using the percentage-of-completion method of accounting and other matters such as the resolution of contractual matters, reserves for disputes, asset impairments and insurance recoveries, among others. No definition available.
|
| X | ||||||||||
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- Definition
Reduction in net earnings due to severance charges. No definition available.
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| X | ||||||||||
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- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are voluntarily and involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. No definition available.
|
| X | ||||||||||
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- Definition
The range of the number of shares that can be earned from target awards, as a percentage of the target award. No definition available.
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| X | ||||||||||
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of paid and unpaid cash dividends declared for classes of stock, for example, but not limited to, common and preferred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to research tax credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash outflows for payments of postemployment benefits (such as severance pay and health insurance benefits) recognized during the period. Postemployment benefits are benefits paid to employees after employment but before retirement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount expected to be recognized in earnings for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Discloses the amount charged against the accrued restructuring reserves, or earnings if not previously accrued, during the period for the specified type of restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The number of positions eliminated during the period as a result of restructuring activities. No definition available.
|
| X | ||||||||||
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- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount remaining of a stock repurchase plan authorized by an entity's Board of Directors. No definition available.
|
|
Changes in Balance of Accumulated Other Comprehensive Loss (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Mar. 30, 2014
|
Mar. 31, 2013
|
|||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
| Beginning balance | $ (9,601) | $ (13,493) | ||||
| Other comprehensive loss before reclassifications | (4) | (40) | ||||
| Net actuarial losses | 153 | [1] | 244 | [1] | ||
| Prior service cost | 14 | [1] | 10 | [1] | ||
| Other | 1 | (3) | ||||
| Total reclassified from AOCL | 168 | 251 | ||||
| Other comprehensive income (loss), net of tax | 164 | 211 | ||||
| Ending balance | (9,437) | (13,282) | ||||
|
Postretirement Benefit Plan Adjustments
|
||||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
| Beginning balance | (9,649) | (13,532) | ||||
| Net actuarial losses | 153 | [1] | 244 | [1] | ||
| Prior service cost | 14 | [1] | 10 | [1] | ||
| Total reclassified from AOCL | 167 | 254 | ||||
| Other comprehensive income (loss), net of tax | 167 | 254 | ||||
| Ending balance | (9,482) | (13,278) | ||||
|
Other, net
|
||||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
| Beginning balance | 48 | 39 | ||||
| Other comprehensive loss before reclassifications | (4) | (40) | ||||
| Other | 1 | (3) | ||||
| Total reclassified from AOCL | 1 | (3) | ||||
| Other comprehensive income (loss), net of tax | (3) | (43) | ||||
| Ending balance | $ 45 | $ (4) | ||||
|
||||||
| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive income (loss) for all adjustments excluding those related to pension and other postretirement benefit plans. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax, before reclassification adjustments of other comprehensive income (loss). No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustment from accumulated other comprehensive income (loss) for actuarial gain (loss) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax of reclassification adjustments of other comprehensive income (loss). No definition available.
|