v3.26.1
Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 2,307 $ 4,403
Accounts receivable, net 2,311 1,375
Unbilled receivables, net 7,953 6,544
Inventoried costs, net 1,415 1,309
Prepaid expenses and other current assets 1,604 1,656
Total current assets 15,590 15,287
Property, plant and equipment, net of accumulated depreciation of $10,061 for 2026 and $9,648 for 2025 10,297 10,972
Operating lease right-of-use assets 1,901 1,859
Goodwill 17,439 17,437
Deferred tax assets 598 1,051
Pension and other postretirement benefit plan assets 3,447 3,167
Other non-current assets 1,491 1,604
Total assets 50,763 51,377
Liabilities    
Trade accounts payable 2,895 3,240
Accrued employee compensation 1,991 2,309
Advance payments and billings in excess of costs incurred 3,823 4,086
Other current liabilities 4,636 4,247
Total current liabilities 13,345 13,882
Long-term debt, net of current portion of $763 for 2026 and $534 for 2025 14,428 15,162
Pension and other postretirement benefit plan liabilities 1,086 1,110
Operating lease liabilities 1,861 1,857
Other non-current liabilities 2,159 2,692
Total liabilities 32,879 34,703
Commitments and Contingencies
Shareholders’ equity    
Preferred stock, $1 par value; 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $1 par value; 800,000,000 shares authorized; issued and outstanding: 2026—142,062,680 and 2025—141,997,194 142 142
Paid-in capital 37 0
Retained earnings 17,839 16,658
Accumulated other comprehensive loss (134) (126)
Total shareholders’ equity 17,884 16,674
Total liabilities and shareholders’ equity $ 50,763 $ 51,377