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General Dynamics Annual Report • 201065
REPORTOFINDEPENDENT REGISTERED PUBLIC ACCOUNTINGFIRM
TheBoard ofDirectorsand ShareholdersofGeneral DynamicsCorporation:
We haveauditedtheaccompanying ConsolidatedBalanceSheets ofGeneral DynamicsCorporation and subsidiaries asofDecember31, 2009 and
2010, and therelatedConsolidatedStatements ofEarnings, Shareholders’Equity,and CashFlows foreach oftheyearsin thethree-year periodended
December31,2010. In connectionwithour audits oftheconsolidated financial statements, we also haveaudited financial statementScheduleII.These
consolidated financial statements and financial statementschedulearetheresponsibilityofthecompany’smanagement. Our responsibilityistoexpress
an opiniononthese consolidated financial statements and financial statementschedulebasedonour audits.
We conductedour audits in accordancewiththestandardsofthePublic Company Accounting OversightBoard (UnitedStates). Those standardsrequire
thatweplan and perform theaudittoobtain reasonableassuranceaboutwhetherthefinancial statements arefree ofmaterial misstatement. An audit
includes examining,onatest basis, evidencesupporting theamounts and disclosures in thefinancial statements. An auditalso includes assessing the
accounting principles usedandsignificantestimates madeby management, aswell asevaluating theoverall financial statementpresentation.Webelieve
thatour audits provideareasonablebasisforour opinion.
In our opinion,theconsolidated financial statements referredto abovepresentfairly,in all material respects, thefinancial positionofGeneral Dynamics
Corporationandsubsidiaries asofDecember31, 2009 and 2010, and theresults oftheir operationsand their cashflows foreach oftheyearsin the
three-year periodendedDecember31,2010, in conformitywithU.S. generally accepted accounting principles. Also, in our opinion,therelated financial
statementschedule, whenconsideredinrelationto thebasic consolidatedfinancialstatements takenasawhole, presents fairly,in all material respects,
theinformationset forththerein.
We also haveaudited,in accordancewiththestandardsofthePublic Company Accounting OversightBoard (UnitedStates), General Dynamics
Corporation’sinternal controlover financial reporting asofDecember31,2010, basedonthecriteria establishedinInternal Control–Integrated
Framework issuedbytheCommittee ofSponsoring OrganizationsoftheTreadway Commission(COSO), and our reportdatedFebruary 18, 2011,
expressed an unqualifiedopinionontheeffectiveness ofthecompany’sinternal controlover financial reporting.
KPMG LLP
McLean,Virginia
February 18, 2011