General Dynamics 2014 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2014 General Dynamics annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 79

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79

R. CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (LOSS)
Year Ended December 31, 2013 Parent
Guarantors on a
Combined Basis
Other Subsidiaries
on a Combined Basis
Consolidating
Adjustments
Total
Consolidated
Revenues $ – $ 27,272 $ 3,658 $ – $ 30,930
Cost of sales 20 22,175 3,007 – 25,202
G&A 74 1,664 301 – 2,039
Operating earnings (94) 3,433 350 – 3,689
Interest, net (93) 1 6 – (86)
Other, net 1 6 1 – 8
Earnings before income tax (186) 3,440 357 – 3,611
Provision for income tax, net (51) 1,058 118 – 1,125
Discontinued operations, net of tax (129) – – – (129)
Equity in net earnings of subsidiaries 2,621 – – (2,621) –
Net earnings $ 2,357 $ 2,382 $ 239 $ (2,621) $ 2,357
Comprehensive income $ 3,947 $ 2,820 $ 196 $ (3,016) $ 3,947
Year Ended December 31, 2012 Parent
Guarantors on a
Combined Basis
Other Subsidiaries
on a Combined Basis
Consolidating
Adjustments
Total
Consolidated
Revenues $ – $ 26,349 $ 4,643 $ – $ 30,992
Cost of sales (19) 23,614 4,411 – 28,006
G&A 88 1,618 515 – 2,221
Operating earnings (69) 1,117 (283) – 765
Interest, net (158) (3) 5 – (156)
Other, net (126) (4) (6) – (136)
Earnings before income tax (353) 1,110 (284) – 473
Provision for income tax, net (133) 854 133 – 854
Discontinued operations, net of tax 49 – – – 49
Equity in net earnings of subsidiaries (161) – – 161 –
Net loss $ (332) $ 256 $ (417) $ 161 $ (332)
Comprehensive loss $ (795) $ 21 $ (135) $ 114 $ (795)
60 General Dynamics Annual Report 2014