Financial Analysis

Legal Proceedings, Commitments and Contingencies Legal Proceedings We are a party 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, cost reimbursements or contributions, compensatory or treble damages or non-monetary sanctions or relief. We believe the probability is remote that the outcome of each of these matters, including the legal proceedings described below, will have a material adverse effect on the company as a whole, notwithstanding that the unfavorable resolution of any matter may have a material effect on our net earnings and cash flows in the period in which it is recognized. 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 proceedi …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Debt Our total debt consisted of the following (in millions): 2025 2024 Notes 4.95% due 2025 $ $ 500 3.55% due 2026 1,000 1,000 5.10% due 2027 750 750 4.45% and 4.15% due 2028 1,000 500 4.50% due 2029 650 650 1.85% and 4.40% due 2030 1,150 400 4.70% due 2031 600 600 3.90% due 2032 800 800 5.25% due 2033 1,000 1,000 4.75% and 4.80% due 2034 1,450 1,450 3.60% and 5.00% due 2035 1,250 500 4.50% and 6.15% due 2036 1,054 1,054 4.07% due 2042 1,336 1,336 3.80% due 2045 1,000 1,000 4.70% due 2046 1,326 1,326 2.80% due 2050 750 750 4.09% due 2052 1,579 1,578 4.15% due 2053 850 850 5.70% due 2054 1,000 1,000 5.20% due 2055 1,050 1,050 4.30% due 2062 650 650 5.90% due 2063 750 750 5.20% due 2064 750 750 Other notes with rates from 4.85% to 8.50%, due 2026 to 2041 1,169 1,313 Total debt 22,914 21,557 Less: unamortized discounts and issuance costs (1,214) (1,287) Total debt, net 21,700 20,270 Less: current portion (1,168) (643) Long-term debt, net $ 20,532 $ 19,627 Revolving Credit Facilities On December 5, 2025, we entered into a new unsecured 364-Day Revolving Credit Agreement (the 364-Day Revolving Credit Agreement), which provides for a revolving credit facility of $3.0 billion. The 364-Day Revolving Credit Agreement matures on December 4, 2026, however, we may elect to convert the entire outstanding balance into a term loan for an additional one-year, payable on December 4, 2027. The 364-Day Revolving Credit Agreement is available for any of our lawful corporate purposes, including …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Stock-Based Compensation Stock-Based Compensation Plans Under plans approved by our stockholders, we are authorized to grant key employees stock-based incentive awards, including options to purchase common stock, stock appreciation rights, RSUs, PSUs or other stock units. At December 31, 2025, inclusive of the shares reserved for outstanding RSUs and PSUs, we had approximately 7.1 million shares reserved for issuance under the plans. At December 31, 2025, we had no outstanding options to purchase common stock and have not issued stock options to employees since 2012. At December 31, 2025, approximately 4.3 million of the shares reserved for issuance remained available for grant under our stock-based compensation plans. We issue new shares when restrictions on RSUs and PSUs have been satisfied. The minimum vesting period under our equity compensation plan for employees generally is one year, although most RSUs granted annually to executives and other key employees vest over three years. Award agreements may provide for vesting periods between one and three years and in certain circumstances less than one year, pro-rated vesting periods or vesting following termination of employment in the case of death, disability, divestiture, retirement, change of control or layoff. The maximum term of any award is 10 years. During 2025, 2024 and 2023, we recorded noncash stock-based compensation expense totaling $304 million, $277 million and $265 million, which is included as a component o …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Goodwill and Acquired Intangibles Changes in the carrying amount of goodwill by business segment were as follows (in millions): Aeronautics MFC RMS Space Total Balance at December 31, 2023 $ 196 $ 2,086 $ 6,741 $ 1,776 $ 10,799 Acquisitions 298 298 Other (1) (29) (30) Balance at December 31, 2024 196 2,085 6,712 2,074 11,067 Acquisitions 217 217 Other 4 25 1 30 Balance at December 31, 2025 $ 196 $ 2,089 $ 6,737 $ 2,292 $ 11,314 The gross carrying amounts and accumulated amortization of our acquired intangible assets consisted of the following (useful life in years, $ in millions): 2025 2024 Estimated Useful Lives Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Finite-Lived: Customer programs 3 - 20 $ 3,186 $ (2,342) $ 844 $ 3,186 $ (2,128) $ 1,058 Customer relationships 5 - 10 94 (94) 94 (91) 3 Other 5 - 10 281 (75) 206 156 (39) 117 Total finite-lived intangibles 3,561 (2,511) 1,050 3,436 (2,258) 1,178 Indefinite-Lived: Trademark 837 837 837 837 Total acquired intangibles $ 4,398 $ (2,511) $ 1,887 $ 4,273 $ (2,258) $ 2,015 Acquired finite-lived intangible assets are amortized to expense primarily on a straight-line basis over their estimated useful lives. Amortization expense for acquired finite-lived intangible assets was $254 million for 2025 and $247 million for both 2024 and 2023. Estimated future amortization expense is as follows: $199 million in 2026; $198 million in 2027; $193 millio …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes Income before Income Tax Expense U.S. and foreign income before income tax expense are as follows (in millions): 2025 Income before income tax expense: U.S. $ 5,531 Foreign 391 Total income before income tax expense $ 5,922 Income Tax Provisions Federal and foreign income tax expense consisted of the following (in millions): 2025 2024 2023 Federal income tax expense (benefit): Current $ 411 $ 1,352 $ 1,574 Deferred 374 (604) (503) Total federal income tax expense 785 748 1,071 Foreign income tax expense (benefit): Current 122 120 102 Deferred (2) 16 5 Total foreign income tax expense 120 136 107 Total federal and foreign income tax expense $ 905 $ 884 $ 1,178 Our total net state income tax expense was $84 million for 2025, $121 million for 2024, and $115 million for 2023. State income taxes are allowable costs in establishing prices for the products and services we sell to the U.S. Government. Therefore, state income tax expenses are included in operating costs and expenses. As a result, the impact of certain transactions on our operating profit and of other matters presented in these consolidated financial statements is disclosed net of state income taxes. A reconciliation of the U.S. federal statutory income tax expense to actual income tax expense is as follows (in millions): 2025 Amount Rate Income tax expense at the U.S. federal statutory tax rate $ 1,244 21.0 % Research and development tax credit (187) (3.2) Effects of cross-border tax laws (97) (1.6) Chang …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases We generally enter into operating lease agreements for facilities, land and equipment. Our ROU operating lease assets were $976 million at December 31, 2025. Operating lease liabilities were $1.1 billion, of which $825 million were classified as noncurrent, at December 31, 2025. New ROU operating lease assets and liabilities entered into during 2025 were $133 million. The weighted average remaining lease term and discount rate for our operating leases were approximately 6.6 years and 3.8% at December 31, 2025. We recognized operating lease expense of $258 million, $260 million and $273 million in 2025, 2024 and 2023. In addition, we made cash payments of $256 million, $258 million and $267 million for operating leases in 2025, 2024 and 2023, which are included in cash flows from operating activities in our consolidated statements of cash flows. Future minimum lease commitments at December 31, 2025 were as follows (in millions): Total 2026 2027 2028 2029 2030 Thereafter Operating leases $ 1,212 $ 279 $ 215 $ 177 $ 152 $ 101 $ 288 Less: imputed interest 141 Total $ 1,071

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Recent Accounting Pronouncements In December 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities . The ASU establishes guidance for the recognition, measurement, and presentation of government grants received by business entities. Under the new standard, a government grant is recognized only when it is probable that (i) the entity will satisfy the grants conditions and (ii) the grant will be received. If those conditions are met, the grant is classified either as a grant related to income or as a grant related to an asset, and the classification determines the appropriate accounting treatment. ASU No. 2025-10 retains the existing disclosure requirements in FASB Accounting Standards Codification (ASC) Topic 832, Government Assistance . For public business entities, the amendments are effective for annual reporting periods beginning after December 15, 2028, and for interim reporting periods within those annual reporting periods, with early adoption permitted. Entities may adopt the amendments using a modified-prospective, modified-retrospective, or full-retrospective approach for all government grants. We are currently evaluating the impact of the ASU on our disclosures and financial statements, including the approach and the timing of adoption. In September 2025, the FASB issued ASU No. 2025-06, Intangibles Goodwill and Other Int …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Retirement Benefits Plan Descriptions Many of our employees and retirees participate in various retirement benefit plans including defined benefit pension, retiree medical and life insurance, disability insurance, and defined contribution retirement savings plans. Substantially all of our retirement benefit obligations relate to U.S. based defined benefit pension plans and retiree medical and life insurance plans. The majority of our U.S. defined benefit pension plans provide for benefits within limits imposed by federal tax law (referred to as qualified plans). However, certain of our U.S. defined benefit pension plans provide for benefits in excess of qualified plan limits imposed by federal tax law (referred to as nonqualified plans). Salaried employees hired after December 31, 2005 are not eligible to participate in our qualified defined benefit pension plans, but are eligible to participate in a qualified defined contribution plan and other retirement savings plans for which they may qualify. They also have the ability to participate in our retiree medical plans, but we do not subsidize the cost of their participation in those plans as we do with employees hired before January 1, 2006. Over the last few years, we have negotiated similar changes with various labor organizations such that new union represented employees do not participate in our defined benefit pension plans. Our defined benefit pension plans for salaried employees were fully frozen effective January 1, 20 …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Impairment and Other Charges During 2025, we recorded charges totaling $66 million ($52 million, or $0.22 per share, after-tax) primarily for the write-off of fixed assets resulting from the U.S. Air Forces Next Generation Air Dominance (NGAD) competition and down-select decision. During 2024, we recorded charges totaling $87 million ($69 million, or $0.29 per share, after-tax) for trademark and fixed asset impairments as well as severance costs resulting from the strategic review of our Sikorsky business during the second quarter of 2024 due, in part, to the impacts of the U.S. Army announcement to cancel the Future Attack Reconnaissance Aircraft (FARA) program at the conclusion of fiscal year 2024, for which our Sikorsky business was competing. During 2023, we recorded severance and other charges of $92 million ($73 million, or $0.30 per share, after-tax) associated with s everance costs for the planned reduction of certain positions across the corporation and asset impairment charges . Upon separation, terminated employees received lump-sum severance payments primarily based on years of service, the majority of which have been paid. This action resulted from a review of our business segments and corporate functions and is intended to improve the efficiency of our operations. We generally can recover a portion of severance costs through the pricing of our products and services to the U.S. Government and other customers in future periods, which will be included in our operat …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Receivables, net, Contract Assets and Contract Liabilities Receivables, net, contract assets and contract liabilities were as follows (in millions): 2025 2024 Receivables, net $ 3,901 $ 2,351 Contract assets 13,001 12,957 Contract liabilities 11,440 9,795 Receivables, net consist of approximately $3.0 billion from the U.S. Government and $877 million from other governments and commercial customers as of December 31, 2025. Substantially all accounts receivable at December 31, 2025 are expected to be collected in 2026. We do not believe we have significant exposure to credit risk as the majority of our accounts receivable are due from the U.S. Government either as the ultimate customer or in connection with foreign military sales. Contract assets are net of progress payments and performance based payments from our customers as well as advance payments from non-U.S. government customers totaling approximately $56.5 billion and $55.6 billion as of December 31, 2025 and 2024. Contract assets increased $44 million during 2025. There were no significant credit or impairment losses related to our contract assets during 2025 and 2024. We expect to bill our customers for the majority of the December 31, 2025 contract assets during 2026. Contract liabilities increased $1.6 billion during 2025, primarily due to payments received in excess of revenue recognized on these performance obligations (primarily on the C-130 and F-35 programs at Aeronautics and Sikorsky at RMS). During 2025, we r …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Information on Business Segments Overview We operate in four business segments: Aeronautics, MFC, RMS and Space. We organize our business segments based on the nature of products and services offered. Following is a brief description of the activities of our business segments: Aeronautics Engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of advanced military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies. Missiles and Fire Control Provides air and missile defense systems; tactical missiles and precision strike weapon systems; logistics; fire control systems; and mission operations support, readiness, engineering support and integration services. Rotary and Mission Systems Designs, manufactures, services and supports various military and commercial helicopters, sea- and land-based missile defense systems, radar systems, laser systems, sea- and air-based mission and combat systems, command and control mission solutions, cyber solutions, simulation and training solutions, and services and supports surface ships. Space Engaged in the research and design, development, engineering and production of satellites, space transportation systems, and strategic, advanced strike, and defensive systems. Space provides network-enabled situational awareness and integrates complex space and ground global systems to help our customers gather, analyze and securely distribute critical intel …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Organization and Significant Accounting Policies Organization We are a global aerospace and defense technology company that builds and sustains the solutions America and its allies need to deter conflict and advance national security and scientific exploration objectives. Our four business areas Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space work as one company offering integrated solutions, at scale, across all warfighting domains. Our defense, space, intelligence, homeland security, information technology, and cybersecurity capabilities serve U.S. and international customers in defense, civil and commercial applications. Our principal customers are agencies of the U.S. Government and allies. See Note 3 Information on Business Segments for more details on discussions of our business areas. Basis of presentation These 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 classify certain assets and liabilities as current utilizing the duration of the related contract or program as our operating cycle, which is generally longer than one year. This primarily impacts receivables, contract assets, inventories, and contract liabilities. We classify all other assets and liabilities based on whether the asset will be realized or the liability will be paid within one year. Addi …

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Stockholders Equity At December 31, 2025 and 2024, our authorized capital was composed of 1.5 billion shares of common stock and 50 million shares of series preferred stock. Of the 230 million and 235 million shares of common stock issued and outstanding as of December 31, 2025 and December 31, 2024, 229 million and 234 million shares were considered outstanding for consolidated balance sheet presentation purposes; the remaining shares were held in a separate trust. No shares of preferred stock were issued and outstanding at December 31, 2025 or 2024. Repurchases of Common Stock During 2025, we repurchased 6.6 million shares of our common stock in open market purchases for $3.0 billion. During 2024, we repurchased 7.5 million shares of our common stock for $3.7 billion in open market purchases. The total remaining authorization for future common stock repurchases under our share repurchase program was $8.3 billion as of December 31, 2025, which includes the $2.0 billion increase to our share repurchase program authorized by our Board of Directors in October 2025 . 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. Dividends We paid dividends totaling $3.1 billion ($1 …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

LEGAL PROCEEDINGS AND CONTINGENCIES Although we cannot predict the outcome of legal or other proceedings with certainty, where there is at least a reasonable possibility that a loss may be incurred, 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. We follow a thorough process in which we seek to estimate the reasonably possible loss or range of loss, and only if we are unable to make such an estimate do we conclude and disclose that an estimate cannot be made. Accordingly, unless otherwise indicated below in our discussion of legal proceedings or environmental matters, a reasonably possible loss or range of loss associated with any individual proceeding or matter cannot be estimated. Legal Proceedings We are a party to litigation and other proceedings that arise in the ordinary course of our business, including matters arising under federal, state, local and foreign requirements 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, cost reimbursements or contributions, compensatory or treble damages or non-monetary sanctions or relief. We do not believe that these matters, including the legal proceedings described below, will have a material adverse effect on the company as a whole, notwithstanding that the unfavorable resolution of any matter may …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

In September 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2025-06, Intangibles Goodwill and Other Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This guidance removes all references to project stages throughout FASB Accounting Standards Codification (ASC) Subtopic 350-40, Internal-Use Software and clarifies the threshold entities apply to begin capitalizing costs. Under the new standard, cost capitalization should only commence when an entity has committed to funding a software project and it is probable the project will be completed and the software will be used for its intended function. The amendments are effective for annual and interim reporting periods beginning January 1, 2028. Entities may apply the guidance using a prospective, retrospective or modified transition approach. Early adoption is permitted as of the beginning of an annual reporting period. We will adopt the ASU on its effective date ofJanuary1,2028. In November 2024, the FASB issued ASU No. 2024-03, Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . The ASU requires entities to disclose certain expenses, including purchases of inventory, employee compensation, depreciation, and intangible asset amortization, by caption. In addition, entities must provide a qualitative description of the amounts re …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

RETIREMENT BENEFITS Pretax FAS pension expense related to our qualified defined benefit pension plans consisted of the following (in millions): Quarters Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Qualified defined benefit pension plans Operating: Service cost $ (12) $ (13) $ (24) $ (26) Non-operating: Interest cost (347) (368) (694) (736) Expected return on plan assets 354 360 708 720 Amortization of actuarial losses (79) (79) (159) (157) Amortization of prior service costs (8) (12) (15) (24) Non-service FAS pension expense (80) (99) (160) (197) Total FAS pension expense $ (92) $ (112) $ (184) $ (223) We record the service cost component of FAS pension expense for our qualified defined benefit pension plans in consolidated operating profit and the non-service components in non-service FAS pension expense on our consolidated statements of earnings. Total FAS income for our other retirement benefit plans was not material during the quarters and six months ended June 28, 2026 and June 29, 2025 and is part of other non-operating income, net on our consolidated statements of earnings. The required funding of our qualified defined benefit pension plans is determined in accordance with the Employee Retirement Income Security Act of 1974 (ERISA), as amended, along with consideration of CAS and Internal Revenue Code rules. We made no contributions to our qualified defined benefit pension plans during the quarters and six months ended June 28, 2026 a …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

CONTRACT ASSETS AND LIABILITIES Contract assets and contract liabilities were as follows (in millions): June 28, 2026 December 31, 2025 Contract assets $ 16,038 $ 13,001 Contract liabilities 12,151 11,440 Contract assets include unbilled amounts typically resulting from sales under contracts when the percentage-of-completion cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer. These assets are primarily driven by the recognition of revenue related to the satisfaction or partial satisfaction of performance obligations for which we have not yet billed our customers. During the six months ended June 28, 2026, contract assets increased $3.0 billion primarily due to the F-35 program at Aeronautics and tactical and strike missiles at MFC. There were no significant credit or impairment losses related to our contract assets during the quarters and six months ended June 28, 2026 and June 29, 2025. Contract liabilities include advance payments and billings in excess of revenue recognized. These liabilities increased $711 million during the six months ended June 28, 2026, primarily due to payment received in excess of revenue recognized on performance obligations (primarily for the F-16 program at Aeronautics). During the quarter and six months ended June 28, 2026, we recognized $1.8 billion and $4.8 billion of our contract liabilities at December 31, 2025 as revenue. During the quarter and six months ended June 29, 202 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

INFORMATION ON BUSINESS SEGMENTS Our operations are organized into four business segments, which also comprise our reportable segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space. We generally organize our business segments based on the nature of products and services offered. Summary operating results for each of our business segments were as follows (in millions): Quarters Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Sales Aeronautics $ 8,112 $ 7,420 $ 15,065 $ 14,477 Missiles and Fire Control 4,101 3,433 7,750 6,806 Rotary and Mission Systems 4,354 3,995 8,345 8,323 Space 3,496 3,307 6,924 6,512 Total sales $ 20,063 $ 18,155 $ 38,084 $ 36,118 Other segment items (a) Aeronautics $ 7,352 $ 7,518 $ 13,686 $ 13,855 Missiles and Fire Control 3,507 2,954 6,656 5,862 Rotary and Mission Systems 3,917 4,167 7,485 7,974 Space 3,125 2,945 6,272 5,771 Total other segment items $ 17,901 $ 17,584 $ 34,099 $ 33,462 Operating profit (loss) Aeronautics $ 760 $ (98) $ 1,379 $ 622 Missiles and Fire Control 594 479 1,094 944 Rotary and Mission Systems 437 (172) 860 349 Space 371 362 652 741 Total business segment operating profit $ 2,162 $ 571 $ 3,985 $ 2,656 Unallocated items FAS/CAS pension operating adjustment $ 422 $ 379 $ 843 $ 758 Impairment and other charges (66) (66) Intangible asset amortization expense (50) (63) (100) (127) Other, net (55) (73) (186) (101) Total unallocated items 317 177 557 464 Total co …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

STOCKHOLDERS EQUITY Dividends We paid cash dividends of $1.6 billion ($6.90 per share) during the six months ended June 28, 2026. The total amount of dividends declared may differ from the total amount of dividends paid during a period due to the timing of dividend-equivalents paid on RSUs and PSUs. These dividend-equivalents are accrued during the vesting period and are paid upon the vesting of the RSUs and PSUs, which primarily occurs in the first quarter each year. Accumulated Other Comprehensive Loss (AOCL) Changes in the balance of AOCL, net of tax, consisted of the following (in millions): Retirement Benefits Other, net AOCL Balance at December 31, 2025 $ (7,555) $ 13 $ (7,542) Other comprehensive loss before reclassifications (55) (55) Amounts reclassified from AOCL Amortization of net actuarial losses and prior service costs (a) 124 124 Other 5 5 Total reclassified from AOCL 124 5 129 Total other comprehensive income 124 (50) 74 Balance at June 28, 2026 $ (7,431) $ (37) $ (7,468) Balance at December 31, 2024 $ (8,288) $ (164) $ (8,452) Other comprehensive income before reclassifications 142 142 Amounts reclassified from AOCL Amortization of net actuarial losses and prior service costs (a) 128 128 Other 25 25 Total reclassified from AOCL 128 25 153 Total other comprehensive income 128 167 295 Balance at June 29, 2025 $ (8,160) $ 3 $ (8,157) (a) Reclassifications from AOCL related to retirement benefits were recorded as a component of FAS expense for each period present …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

SUBSEQUENT EVENTSOn July 6, 2026, we announced that we entered into a definitive agreement to acquire Ultra Maritime Solutions (Ultra Maritime), a global defense company specializing in advanced undersea warfare and anti-submarine capabilities for allied naval forces, for $3.45billion. We expect to fund the acquisition with cash on hand and additional financing arrangements. The transaction is subject to regulatory reviews and approvals and customary closing conditions, and is expected to close in the fourth quarter of 2026. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing