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SUPPLEMENTARY DATA
(UNAUDITED)
(Dollars in millions, except per-share amounts) 2012 2013
1Q (a) 2Q 3Q 4Q (b) 1Q 2Q 3Q 4Q (c)
Revenues $ 7,579 $ 7,922 $ 7,934 $ 8,078 $ 7,404 $ 7,911 $ 7,796 $ 8,107
Operating earnings (loss) 860 970 905 (1,902) 847 960 957 921
Earnings (loss) from continuing operations 564 634 600 (2,130) 571 640 651 624
Discontinued operations – – – ––––(129)
Net earnings (loss) 564 634 600 (2,130) 571 640 651 495
Earnings (loss) per share – Basic (d):
Continuing operations $ 1.58 $ 1.79 $ 1.71 $ (6.07) $ 1.62 $ 1.82 $ 1.86 $ 1.78
Discontinued operations – – – ––––(0.37)
Net earnings (loss) 1.58 1.79 1.71 (6.07) 1.62 1.82 1.86 1.41
Earnings (loss) per share – Diluted (d):
Continuing operations $ 1.57 $ 1.77 $ 1.70 $ (6.07) $ 1.62 $ 1.81 $ 1.84 $ 1.76
Discontinued operations – – – ––––(0.36)
Net earnings (loss) 1.57 1.77 1.70 (6.07) 1.62 1.81 1.84 1.40
Market price range:
High $ 74.15 $ 74.54 $ 67.29 $ 70.59 $ 72.01 $ 79.48 $ 89.94 $ 95.76
Low 66.76 61.54 61.09 61.70 64.47 65.37 77.40 83.61
Dividends declared $ 0.51 $ 0.51 $ 0.51 $ 0.51 $ 0.56 $ 0.56 $ 0.56 $ 0.56
Quarterly data are based on a 13-week period. Because our fiscal year ends on December 31, the number of days in our first and fourth quarters varies slightly from year to year.
(a) First quarter of 2012 includes $67 of out-of-period adjustments at one of our European subsidiaries.
(b) Fourth quarter of 2012 includes $2.3 billion of goodwill and intangible asset impairment charges in our Aerospace and Information Systems and Technology groups and $546 of other discrete
charges.
(c) Fourth quarter of 2013 includes $129 loss, net of taxes, in discontinued operations from the settlement of the A-12 litigation.
(d) The sum of the basic and diluted earnings per share for the four quarters of the year may differ from the annual basic and diluted earnings per share due to the required method of computing the
weighted average number of shares in interim periods. Fourth quarter of 2012 amounts exclude the dilutive effect of stock options and restricted stock as it would be antidilutive.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES
Our management, under the supervision and with the participation of the Chief Executive Officer and the Chief Financial Officer, evaluated the
effectiveness of our disclosure controls and procedures as of December 31, 2013 (as defined in Rule 13a-15(e) and Rule 15d-15(e) under the
Securities Exchange Act of 1934, as amended (Exchange Act)). Based on this evaluation, the Chief Executive Officer and Chief Financial Officer
concluded that, as of December 31, 2013, our disclosure controls and procedures were effective.
The certifications of the company’s Chief Executive Officer and Chief Financial Officer required under Section 302 of the Sarbanes-Oxley Act have
been filed as Exhibits 31.1 and 31.2 to this report.
General Dynamics Annual Report 2013 67