v3.25.2
Segment Information
 6 Months Ended
Jun. 29, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
We have four operating segments: Aerospace, Marine Systems, Combat Systems and Technologies. We organize our segments in accordance with the nature of products and services offered. Our chief operating decision maker is our Chairman and Chief Executive Officer (CEO).
We measure each segment’s profitability based on operating earnings. Segment operating earnings exclude net interest and other income and expense items. The Chairman and CEO uses segment operating earnings as an input when assessing segment performance and when making decisions to allocate financial resources between segments. The Chairman and CEO uses operating earnings in assessing segment performance by comparing operating earnings to prior period results and plan-to-actual variances. The Chairman and CEO also uses forecasted expense information for each segment to manage operations.
Summary financial information for each of our segments follows:
Revenue (a)Other Segment Items (b)Operating Earnings
Three Months EndedJune 29, 2025June 30, 2024June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Aerospace$3,062 $2,940 $(2,659)$(2,621)$403 $319 
Marine Systems4,220 3,453 (3,929)(3,208)291 245 
Combat Systems2,283 2,288 (1,959)(1,975)324 313 
Technologies3,476 3,295 (3,144)(2,975)332 320 
Corporate (c)— — — — (45)(41)
Total$13,041 $11,976 $(11,691)$(10,779)$1,305 $1,156 
Six Months Ended
Aerospace$6,088 $5,024 $(5,253)$(4,450)$835 $574 
Marine Systems7,809 6,784 (7,268)(6,307)541 477 
Combat Systems4,459 4,390 (3,844)(3,795)615 595 
Technologies6,908 6,509 (6,248)(5,894)660 615 
Corporate (c)— — — — (78)(69)
Total$25,264 $22,707 $(22,613)$(20,446)$2,573 $2,192 
(a)See Note B for additional revenue information by segment.
(b)Other segment items consist of material and labor costs, depreciation and amortization, and other overhead and G&A expenses.
(c)Corporate operating costs consisted primarily of equity-based compensation expense.
The following is additional summary financial information for each of our segments:
Capital ExpendituresDepreciation and Amortization*Identifiable Assets
Three Months EndedJune 29, 2025June 30, 2024June 29, 2025June 30, 2024June 29, 2025December 31, 2024
Aerospace$38 $54 $61 $55 $16,625 $16,192 
Marine Systems112 100 64 59 6,508 7,019 
Combat Systems18 28 27 28 11,625 10,275 
Technologies27 18 68 72 19,445 19,286 
Corporate3 1 3 3 2,685 3,108 
Total$198 $201 $223 $217 $56,888 $55,880 
Six Months Ended
Aerospace$63 $109 $119 $104 
Marine Systems199 174 130 116 
Combat Systems34 38 55 55 
Technologies41 37 136 147 
Corporate3 2 6 6 
Total$340 $360 $446 $428 
*    Depreciation and amortization by reportable segment is included within the other segment items expense caption.