0001193125-16-749763 | 10-Q | XBRL Viewer

Sikorsky Aircraft Corporation

Goodwill

$ 10,791

$ 10,695

Cash and cash equivalents

$ 75

Receivables, net

1,948

Inventories, net

1,605

Other current assets

Property, plant and equipment

649

Goodwill

2,853

Other noncurrent assets

507

Deferred income tax assets

265

Total identifiable assets and goodwill

12,018

Accounts payable

(565)

Customer advances and amounts in excess of costs incurred

(1,197)

Salaries, benefits and payroll taxes

(105)

Other current liabilities

(382)

Customer contractual obligations

^[1]

(507)

Other noncurrent liabilities

(156)

Deferred income tax liabilities

^[1]

(28)

Total liabilities assumed

(2,940)

Total purchase price

9,078

Sikorsky Aircraft Corporation | Customer Programs

Sikorsky Aircraft Corporation | Trademarks

Intangible assets

3,204

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Intangible assets

$ 887

[1]	Recorded in other noncurrent liabilities on the consolidated balance sheets. The refinements made during the quarter and nine months ended September 25, 2016 did not have a material effect on the acquired assets and liabilities assumed or on net earnings.

Summary of Pro Forma Financial Information As If Included in Financial Results (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Sep. 27, 2015	Sep. 27, 2015
Business Acquisition [Line Items]
Net sales	$ 11,434	$ 33,289
Net earnings	$ 858	$ 2,631
Basic earnings per common share	$ 2.78	$ 8.44
Diluted earnings per common share	$ 2.74	$ 8.32

Carrying Amounts of Major Classes of Business Segment Assets and Liabilities Classified as Discontinued Operations (Detail) - Information Systems & Global Solutions $ in Millions	Dec. 31, 2015 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Receivables, net	$ 807
Inventories, net	143
Other current assets	19
Property, plant and equipment, net	101
Goodwill	2,881
Intangible assets	125
Other noncurrent assets	54
Total assets of the disposal group	4,130
Accounts payable	(229)
Customer advances and amounts in excess of costs incurred	(285)
Salaries, benefits and payroll taxes	(209)
Other current liabilities	(225)
Deferred income taxes	(145)
Other noncurrent liabilities	(60)
Total liabilities of the disposal group	$ (1,153)

Operating Results Reflected within Earnings from Discontinued Operations, Net of Tax (Detail) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 25, 2016

Sep. 27, 2015

Sep. 25, 2016

Sep. 27, 2015

Net earnings from discontinued operations

$ 1,306

$ 109

$ 1,520

$ 363

Information Systems & Global Solutions

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net sales

739

^[1]

1,401

3,410

^[1]

4,199

Cost of sales

(635)

^[1]

(1,222)

(2,953)

^[1]

(3,644)

Severance charges

(20)

(19)

^[1]

(20)

Gross profit

104

^[1]

159

438

^[1]

535

Other income, net

^[1]

Earnings from discontinued operations before income taxes

123

^[1]

162

454

^[1]

543

123

^[1]

162

454

^[1]

543

Income tax expense

(51)

^[1]

(53)

(168)

^[1]

(180)

Net gain on divestiture of discontinued operations

^[1]

1,234

Net earnings from discontinued operations

$ 1,306

^[1]

$ 109

$ 1,520

^[1]

$ 363

[1]	Operating results for the quarter and nine months ended September 25, 2016 reflect operating results prior to the transaction date of August 16, 2016, not the full quarter or nine month period as shown for the prior period.

Goodwill and Acquired Intangibles (Detail) $ in Millions	9 Months Ended
Goodwill and Acquired Intangibles (Detail) $ in Millions	Sep. 25, 2016 USD ($)
Goodwill [Line Items]
Goodwill, beginning balance	$ 10,695
Purchase accounting adjustments	89
Divestitures	(7)
Foreign currency translation	14
Goodwill, ending balance	10,791
Aeronautics
Goodwill [Line Items]
Goodwill, beginning balance	171
Goodwill, ending balance	171
Missiles and Fire Control
Goodwill [Line Items]
Goodwill, beginning balance	2,198
Foreign currency translation	(8)
Goodwill, ending balance	2,190
Rotary and Mission Systems
Goodwill [Line Items]
Goodwill, beginning balance	6,738
Purchase accounting adjustments	89
Divestitures	(7)
Foreign currency translation	24
Goodwill, ending balance	6,844
Space Systems
Goodwill [Line Items]
Goodwill, beginning balance	1,588
Foreign currency translation	(2)
Goodwill, ending balance	$ 1,586

Acquired Intangible Assets (Detail) - USD ($) $ in Millions	Sep. 25, 2016	Dec. 31, 2015
Indefinite Lived And Finite Lived Intangible Assets [Line Items]
Finite-Lived, Gross Carrying Amount	$ 3,695	$ 3,375
Indefinite Lived, Trademarks, Gross Carrying Amount	887	816
Finite-Lived, Accumulated Amortization	(377)	(169)
Total acquired intangibles	4,582	4,191
Finite-Lived, Net Carrying Amount	3,318	3,206
Indefinite Lived, Trademarks, Net Carrying Amount	887	816
Total acquired intangibles, Net Carrying Amount	4,205	4,022
Customer Programs
Indefinite Lived And Finite Lived Intangible Assets [Line Items]
Finite-Lived, Gross Carrying Amount	3,204	3,127
Finite-Lived, Accumulated Amortization	(214)	(38)
Finite-Lived, Net Carrying Amount	2,990	3,089
Customer relationships
Indefinite Lived And Finite Lived Intangible Assets [Line Items]
Finite-Lived, Gross Carrying Amount	380	137
Finite-Lived, Accumulated Amortization	(82)	(59)
Finite-Lived, Net Carrying Amount	298	78
Other Finite-lived Intangibles
Indefinite Lived And Finite Lived Intangible Assets [Line Items]
Finite-Lived, Gross Carrying Amount	111	111
Finite-Lived, Accumulated Amortization	(81)	(72)
Finite-Lived, Net Carrying Amount	$ 30	$ 39

Goodwill and Acquired Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization expense for acquired finite lived intangible assets	$ 82	$ 7	$ 203	$ 22
Amortization of finite lived intangible assets remaining in 2016	58		58
Amortization of finite lived intangible assets in 2017	258		258
Amortization of finite lived intangible assets in 2018	248		248
Amortization of finite lived intangible assets in 2019	246		246
Amortization of finite lived intangible assets in 2020	242		242
Amortization of finite lived intangible assets in 2021	238		238
Amortization of finite lived intangible assets after 2021	$ 2,000		$ 2,000
Customer Programs \| Minimum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized			9 years
Customer Programs \| Maximum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized			20 years
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized			4 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized			10 years
Other Finite-lived Intangibles \| Minimum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized			2 years
Other Finite-lived Intangibles \| Maximum
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets are amortized			10 years

Business Segments Information - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Sep. 25, 2016	Sep. 27, 2015	Sep. 25, 2016	Sep. 27, 2015
Segment Reporting Information [Line Items]
Number of business segments			4
F-35 program \| Aeronautics
Segment Reporting Information [Line Items]
Program net sales as percent of total net sales from continuing operations	23.00%	23.00%	23.00%	23.00%

Summary of Financial Information for Each Business Segment (Detail) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 25, 2016

Sep. 27, 2015

Sep. 25, 2016

Sep. 27, 2015

Dec. 31, 2015

FAS/CAS pension adjustment

$ 11,551

$ 10,060

$ 33,496

$ 29,016

Less: CAS pension cost

^[1]

482

382

1,430

1,146

^[1]

226

102

672

305

Stock-based compensation

(28)

(27)

(124)

(112)

Severance charges

(15)

(80)

(15)

Other, net

(33)

(112)

(157)

(264)

Total unallocated items

165

(52)

311

(86)

1,588

1,192

4,121

3,612

48,739

$ 49,304

Discontinued Operations

Qualified defined benefit pension plans

4,130

FAS pension expense

^[1]

(256)

(280)

(758)

(841)

Operating Segments

1,423

1,244

3,810

3,698

Operating Segments | Aeronautics

36,336

34,693

4,188

3,921

12,362

11,186

437

418

1,335

1,233

Operating Segments | Missiles and Fire Control

8,012

6,618

1,737

1,769

4,851

4,801

289

316

763

895

Operating Segments | Rotary and Mission Systems

3,950

4,027

3,346

2,162

9,653

6,306

247

245

678

687

Operating Segments | Space Systems

18,978

19,187

2,280

2,208

6,630

6,723

450

265

1,034

883

5,396

4,861

Intersegment elimination

Intersegment elimination | Aeronautics

601

511

1,802

1,483

Intersegment elimination | Missiles and Fire Control

105

Intersegment elimination | Rotary and Mission Systems

225

241

Intersegment elimination | Space Systems

469

364

1,382

1,066

$ 39

$ 108

Corporate