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The following table presents our revenues by geographic area based
on the location of our customers:
Year Ended December 31 2014 2013 2012
North America:
United States $ 23,222 $ 24,646 $ 24,636
Other 1,174 959 1,035
Total North America 24,396 25,605 25,671
Europe 2,410 2,795 3,013
Asia/Pacific 1,608 1,466 1,405
Africa/Middle East 2,163 736 689
South America 275 328 214
$ 30,852 $ 30,930 $ 30,992
Our revenues from operations located outside the United States were
$3.6 billion in 2014, $3.3 billion in 2013 and $4.3 billion in 2012. The
long-lived assets associated with these operations were 6 percent of our
total long-lived assets on December 31, 2014 and 2013.
R. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
The fixed-rate notes described in Note J are fully and unconditionally
guaranteed on an unsecured, joint and several basis by certain of our
100-percent-owned subsidiaries (the guarantors). The following
condensed consolidating financial statements illustrate the composition
of the parent, the guarantors on a combined basis (each guarantor
together with its majority owned subsidiaries) and all other subsidiaries
on a combined basis.
R. CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (LOSS)
Year Ended December 31, 2014 Parent
Guarantors on a
Combined Basis
Other Subsidiaries
on a Combined Basis
Consolidating
Adjustments
Total
Consolidated
Revenues $ – $ 26,819 $ 4,033 $ – $ 30,852
Cost of sales 9 21,792 3,178 – 24,979
G&A 62 1,633 289 – 1,984
Operating earnings (71) 3,394 566 – 3,889
Interest, net (93) – 7 – (86)
Other, net – (2) 1 – (1)
Earnings before income tax (164) 3,392 574 – 3,802
Provision for income tax, net (54) 1,099 84 – 1,129
Discontinued operations, net of tax (140) – – – (140)
Equity in net earnings of subsidiaries 2,783 – – (2,783) –
Net earnings $ 2,533 $ 2,293 $ 490 $ (2,783) $ 2,533
Comprehensive income $ 786 $ 2,147 $ (125) $ (2,022) $ 786
General Dynamics Annual Report 2014 59