- Revenue $10.6 billion, up 6% year
over year
- Net earnings $836 million,
diluted EPS $3.04
- $1.3 billion net cash provided by
operating activities
- Record-high $95.6 billion
backlog, 1.4-to-1 book-to-bill
RESTON,
Va., Oct. 25, 2023 /PRNewswire/ -- General
Dynamics (NYSE: GD) today reported third-quarter 2023 net earnings
of $836 million on revenue of
$10.6 billion. Diluted earnings per
share (EPS) were $3.04.
"We continue to see strong demand and steady revenue growth
across the business, resulting in significant growth in backlog,"
said Phebe N. Novakovic, chairman
and chief executive officer. "Both operating earnings and net
earnings increased over last quarter, and cash from operations was
a highlight."
Cash
Net cash provided by operating activities in the
quarter totaled $1.3 billion, or 158%
of net earnings. After $227 million
in capital expenditures, the company generated free cash flow from
operations of $1.1 billion, or 131%
of net earnings. During the quarter, the company repaid
$500 million in fixed-rate notes,
paid $363 million in dividends, and
used $56 million to repurchase
shares.
Backlog
Orders remained strong across the company with
a consolidated book-to-bill ratio, defined as orders divided by
revenue, of 1.4-to-1 for the quarter, with particular strength in
the Marine Systems and Aerospace segments. Company-wide backlog of
$95.6 billion was the highest in the
company's history. Estimated potential contract value, which
represents management's estimate of additional value in unfunded
indefinite delivery, indefinite quantity (IDIQ) contracts and
unexercised options, was $37.3
billion. Total estimated contract value, the sum of all
backlog components, was $132.9
billion at the end of the quarter.
Aerospace received $2.9 billion in
new orders during the quarter, growing backlog to $20.1 billion.
Significant awards in the quarter for the three defense segments
included a U.S. Navy contract for an undisclosed amount for
construction of three Flight III Arleigh Burke-class guided-missile
destroyers; $1.5 billion in contracts
for Virginia-class submarine lead yard services, development
studies and design efforts, as well as spare parts for maintenance
availabilities; $140 million, with a
maximum potential value of $1.3
billion, for Columbia-class submarine advanced nuclear plant
studies (ANPS); $1.1 billion, with
maximum potential value up to $1.9
billion, for munitions, ordnance, and the establishment of
additional production capacity; a Department of Homeland Security
contract with maximum potential value of $710 million to continue infrastructure
modernization of its St. Elizabeth's campus in Washington, D.C.; and $365 million, with maximum potential value of
$775 million, for several key
contracts for classified customers.
About General Dynamics
Headquartered in Reston, Virginia, General Dynamics is a global
aerospace and defense company that offers a broad portfolio of
products and services in business aviation; ship construction and
repair; land combat vehicles, weapons systems and munitions; and
technology products and services. General Dynamics employs more
than 100,000 people worldwide and generated $39.4 billion in revenue in 2022. More
information is available at GD.com.
WEBCAST INFORMATION: General Dynamics will webcast its
third-quarter 2023 financial results conference call today at
9 a.m. EDT. The webcast will be a
listen-only audio event available at GD.com.
An on-demand replay of the webcast will be available by
telephone two hours after the end of the call through November 1, 2023, at 800-770-2030 (international:
+1 647-362-9199), conference ID 4299949. Charts furnished to
investors and securities analysts in connection with the
announcement of financial results are available at
GD.com.
This press release contains forward-looking statements (FLS),
including statements about the company's future operational
and financial performance, which are based on management's
expectations, estimates, projections and assumptions. Words such as
"expects," "anticipates," "plans," "believes," "forecasts,"
"scheduled," "outlook," "estimates," "should" and variations of
these words and similar expressions are intended to identify FLS.
In making FLS, we rely on assumptions and analyses based on our
experience and perception of historical trends; current conditions
and expected future developments; and other factors, estimates and
judgments we consider reasonable and appropriate based on
information available to us at the time. FLS are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995, as amended. FLS are not guarantees of future
performance and involve factors, risks and uncertainties that are
difficult to predict. Actual future results and trends may differ
materially from what is forecast in the FLS. All FLS speak only as
of the date they were made. We do not undertake any obligation to
update or publicly release revisions to FLS to reflect events,
circumstances or changes in expectations after the date of this
press release. Additional information regarding these factors is
contained in the company's filings with the SEC, and these
factors may be revised or supplemented in future SEC filings. In
addition, this press release contains some financial measures not
prepared in accordance with U.S. generally accepted accounting
principles (GAAP). While we believe these non-GAAP metrics provide
useful information for investors, there are limitations associated
with their use, and our calculations of these metrics may not be
comparable to similarly titled measures of other companies.
Non-GAAP metrics should not be considered in isolation from, or as
a substitute for, GAAP measures. Reconciliations to comparable GAAP
measures and other information relating to our non-GAAP measures
are included in other filings with the SEC, which are available
at investorrelations.gd.com.
EXHIBIT A
CONSOLIDATED
STATEMENT OF EARNINGS - (UNAUDITED)
DOLLARS IN MILLIONS,
EXCEPT PER SHARE AMOUNTS
|
|
|
Three Months Ended
|
|
Variance
|
|
October 1, 2023
|
|
October 2,
2022
|
|
$
|
|
%
|
Revenue
|
$
10,571
|
|
$
9,975
|
|
$
596
|
|
6.0 %
|
Operating costs and
expenses
|
(9,514)
|
|
(8,877)
|
|
(637)
|
|
|
Operating
earnings
|
1,057
|
|
1,098
|
|
(41)
|
|
(3.7) %
|
Other, net
|
19
|
|
41
|
|
(22)
|
|
|
Interest,
net
|
(85)
|
|
(86)
|
|
1
|
|
|
Earnings before income
tax
|
991
|
|
1,053
|
|
(62)
|
|
(5.9) %
|
Provision for income
tax, net
|
(155)
|
|
(151)
|
|
(4)
|
|
|
Net earnings
|
$
836
|
|
$
902
|
|
$
(66)
|
|
(7.3) %
|
Earnings per
share—basic
|
$
3.07
|
|
$
3.29
|
|
$ (0.22)
|
|
(6.7) %
|
Basic weighted average
shares outstanding
|
272.6
|
|
273.9
|
|
|
|
|
Earnings per
share—diluted
|
$
3.04
|
|
$
3.26
|
|
$ (0.22)
|
|
(6.7) %
|
Diluted weighted
average shares outstanding
|
274.7
|
|
276.4
|
|
|
|
|
EXHIBIT B
CONSOLIDATED
STATEMENT OF EARNINGS - (UNAUDITED)
DOLLARS IN MILLIONS,
EXCEPT PER SHARE AMOUNTS
|
|
|
Nine Months Ended
|
|
Variance
|
|
October 1, 2023
|
|
October 2,
2022
|
|
$
|
|
%
|
Revenue
|
$
30,604
|
|
$
28,556
|
|
$ 2,048
|
|
7.2 %
|
Operating costs and
expenses
|
(27,647)
|
|
(25,572)
|
|
(2,075)
|
|
|
Operating
earnings
|
2,957
|
|
2,984
|
|
(27)
|
|
(0.9) %
|
Other, net
|
65
|
|
120
|
|
(55)
|
|
|
Interest,
net
|
(265)
|
|
(279)
|
|
14
|
|
|
Earnings before income
tax
|
2,757
|
|
2,825
|
|
(68)
|
|
(2.4) %
|
Provision for income
tax, net
|
(447)
|
|
(427)
|
|
(20)
|
|
|
Net earnings
|
$
2,310
|
|
$
2,398
|
|
$
(88)
|
|
(3.7) %
|
Earnings per
share—basic
|
$
8.45
|
|
$
8.70
|
|
$ (0.25)
|
|
(2.9) %
|
Basic weighted average
shares outstanding
|
273.2
|
|
275.8
|
|
|
|
|
Earnings per
share—diluted
|
$
8.39
|
|
$
8.61
|
|
$ (0.22)
|
|
(2.6) %
|
Diluted weighted
average shares outstanding
|
275.4
|
|
278.4
|
|
|
|
|
EXHIBIT C
REVENUE AND
OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN
MILLIONS
|
|
|
Three Months Ended
|
|
Variance
|
|
October 1, 2023
|
|
October 2,
2022
|
|
$
|
|
%
|
Revenue:
|
|
|
|
|
|
|
|
Aerospace
|
$
2,032
|
|
$
2,347
|
|
$
(315)
|
|
(13.4) %
|
Marine
Systems
|
3,002
|
|
2,769
|
|
233
|
|
8.4 %
|
Combat
Systems
|
2,224
|
|
1,788
|
|
436
|
|
24.4 %
|
Technologies
|
3,313
|
|
3,071
|
|
242
|
|
7.9 %
|
Total
|
$
10,571
|
|
$
9,975
|
|
$
596
|
|
6.0 %
|
Operating earnings:
|
|
|
|
|
|
|
|
Aerospace
|
$
268
|
|
$
312
|
|
$
(44)
|
|
(14.1) %
|
Marine
Systems
|
211
|
|
238
|
|
(27)
|
|
(11.3) %
|
Combat
Systems
|
300
|
|
271
|
|
29
|
|
10.7 %
|
Technologies
|
315
|
|
285
|
|
30
|
|
10.5 %
|
Corporate
|
(37)
|
|
(8)
|
|
(29)
|
|
(362.5) %
|
Total
|
$
1,057
|
|
$
1,098
|
|
$
(41)
|
|
(3.7) %
|
Operating margin:
|
|
|
|
|
|
|
|
Aerospace
|
13.2 %
|
|
13.3 %
|
|
|
|
|
Marine
Systems
|
7.0 %
|
|
8.6 %
|
|
|
|
|
Combat
Systems
|
13.5 %
|
|
15.2 %
|
|
|
|
|
Technologies
|
9.5 %
|
|
9.3 %
|
|
|
|
|
Total
|
10.0 %
|
|
11.0 %
|
|
|
|
|
EXHIBIT D
REVENUE AND
OPERATING EARNINGS BY SEGMENT - (UNAUDITED)
DOLLARS IN
MILLIONS
|
|
|
Nine Months Ended
|
|
Variance
|
|
October 1, 2023
|
|
October 2,
2022
|
|
$
|
|
%
|
Revenue:
|
|
|
|
|
|
|
|
Aerospace
|
$
5,877
|
|
$
6,117
|
|
$
(240)
|
|
(3.9) %
|
Marine
Systems
|
9,053
|
|
8,071
|
|
982
|
|
12.2 %
|
Combat
Systems
|
5,904
|
|
5,129
|
|
775
|
|
15.1 %
|
Technologies
|
9,770
|
|
9,239
|
|
531
|
|
5.7 %
|
Total
|
$
30,604
|
|
$
28,556
|
|
$
2,048
|
|
7.2 %
|
Operating earnings:
|
|
|
|
|
|
|
|
Aerospace
|
$
733
|
|
$
793
|
|
$
(60)
|
|
(7.6) %
|
Marine
Systems
|
657
|
|
660
|
|
(3)
|
|
(0.5) %
|
Combat
Systems
|
796
|
|
743
|
|
53
|
|
7.1 %
|
Technologies
|
897
|
|
887
|
|
10
|
|
1.1 %
|
Corporate
|
(126)
|
|
(99)
|
|
(27)
|
|
(27.3) %
|
Total
|
$
2,957
|
|
$
2,984
|
|
$
(27)
|
|
(0.9) %
|
Operating margin:
|
|
|
|
|
|
|
|
Aerospace
|
12.5 %
|
|
13.0 %
|
|
|
|
|
Marine
Systems
|
7.3 %
|
|
8.2 %
|
|
|
|
|
Combat
Systems
|
13.5 %
|
|
14.5 %
|
|
|
|
|
Technologies
|
9.2 %
|
|
9.6 %
|
|
|
|
|
Total
|
9.7 %
|
|
10.4 %
|
|
|
|
|
EXHIBIT E
CONSOLIDATED BALANCE
SHEET
DOLLARS IN
MILLIONS
|
|
|
(Unaudited)
|
|
|
|
October 1, 2023
|
|
December 31,
2022
|
ASSETS
|
|
|
|
Current assets:
|
|
|
|
Cash and
equivalents
|
$
1,352
|
|
$
1,242
|
Accounts
receivable
|
3,132
|
|
3,008
|
Unbilled
receivables
|
8,453
|
|
8,795
|
Inventories
|
8,282
|
|
6,322
|
Other current
assets
|
1,560
|
|
1,696
|
Total current
assets
|
22,779
|
|
21,063
|
Noncurrent assets:
|
|
|
|
Property, plant and
equipment, net
|
6,013
|
|
5,900
|
Intangible assets,
net
|
1,681
|
|
1,824
|
Goodwill
|
20,386
|
|
20,334
|
Other assets
|
2,666
|
|
2,464
|
Total noncurrent
assets
|
30,746
|
|
30,522
|
Total assets
|
$
53,525
|
|
$
51,585
|
LIABILITIES AND SHAREHOLDERS'
EQUITY
|
|
|
|
Current liabilities:
|
|
|
|
Short-term debt and
current portion of long-term debt
|
$
7
|
|
$
1,253
|
Accounts
payable
|
3,315
|
|
3,398
|
Customer advances and
deposits
|
9,351
|
|
7,436
|
Other current
liabilities
|
3,289
|
|
3,254
|
Total current
liabilities
|
15,962
|
|
15,341
|
Noncurrent liabilities:
|
|
|
|
Long-term
debt
|
9,248
|
|
9,243
|
Other
liabilities
|
8,358
|
|
8,433
|
Total noncurrent
liabilities
|
17,606
|
|
17,676
|
Shareholders' equity:
|
|
|
|
Common stock
|
482
|
|
482
|
Surplus
|
3,671
|
|
3,556
|
Retained
earnings
|
38,626
|
|
37,403
|
Treasury
stock
|
(21,124)
|
|
(20,721)
|
Accumulated other
comprehensive loss
|
(1,698)
|
|
(2,152)
|
Total shareholders'
equity
|
19,957
|
|
18,568
|
Total liabilities and shareholders'
equity
|
$
53,525
|
|
$
51,585
|
EXHIBIT F
CONSOLIDATED
STATEMENT OF CASH FLOWS - (UNAUDITED)
DOLLARS IN
MILLIONS
|
|
|
Nine Months Ended
|
|
October 1, 2023
|
|
October 2,
2022
|
Cash flows from operating activities—continuing
operations:
|
|
|
|
Net
earnings
|
$
2,310
|
|
$
2,398
|
Adjustments to
reconcile net earnings to net cash from operating
activities:
|
|
|
|
Depreciation of
property, plant and equipment
|
446
|
|
420
|
Amortization of
intangible and finance lease right-of-use assets
|
195
|
|
224
|
Equity-based
compensation expense
|
136
|
|
140
|
Deferred income tax
benefit
|
(158)
|
|
(132)
|
(Increase) decrease in
assets, net of effects of business acquisitions:
|
|
|
|
Accounts
receivable
|
(89)
|
|
259
|
Unbilled
receivables
|
448
|
|
422
|
Inventories
|
(1,904)
|
|
(915)
|
Increase (decrease) in
liabilities, net of effects of business acquisitions:
|
|
|
|
Accounts
payable
|
(83)
|
|
(68)
|
Customer advances and
deposits
|
2,171
|
|
1,598
|
Other, net
|
42
|
|
(436)
|
Net cash provided by
operating activities
|
3,514
|
|
3,910
|
Cash flows from investing
activities:
|
|
|
|
Capital
expenditures
|
(600)
|
|
(620)
|
Other, net
|
(8)
|
|
(378)
|
Net cash used by
investing activities
|
(608)
|
|
(998)
|
Cash flows from financing
activities:
|
|
|
|
Repayment of
fixed-rate notes
|
(1,250)
|
|
—
|
Dividends
paid
|
(1,068)
|
|
(1,024)
|
Purchases of common
stock
|
(434)
|
|
(1,119)
|
Other, net
|
(40)
|
|
103
|
Net cash used by
financing activities
|
(2,792)
|
|
(2,040)
|
Net cash (used)
provided by discontinued operations
|
(4)
|
|
21
|
Net increase in cash and
equivalents
|
110
|
|
893
|
Cash and equivalents at beginning of
period
|
1,242
|
|
1,603
|
Cash and equivalents at end of
period
|
$
1,352
|
|
$
2,496
|
EXHIBIT G
ADDITIONAL FINANCIAL
INFORMATION - (UNAUDITED)
DOLLARS IN MILLIONS,
EXCEPT PER SHARE AMOUNTS
|
|
Other Financial Information:
|
|
|
|
|
|
|
|
|
October 1, 2023
|
|
December 31,
2022
|
|
|
|
|
Debt-to-equity
(a)
|
46.4 %
|
|
56.5 %
|
|
|
|
|
Book value per share
(b)
|
$
73.13
|
|
$
67.66
|
|
|
|
|
Shares
outstanding
|
272,896,860
|
|
274,411,106
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Third Quarter
|
|
Nine Months
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Income tax payments,
net
|
$
167
|
|
$
202
|
|
$
493
|
|
$
767
|
Company-sponsored
research and development (c)
|
$
140
|
|
$
124
|
|
$
395
|
|
$
361
|
Return on sales
(d)
|
7.9 %
|
|
9.0 %
|
|
7.5 %
|
|
8.4 %
|
|
|
|
|
|
|
|
|
Non-GAAP Financial Measures:
|
|
|
|
|
|
|
|
|
Third Quarter
|
|
Nine Months
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Free cash flow:
|
|
|
|
|
|
|
|
Net cash provided by
operating activities
|
$
1,321
|
|
$
1,283
|
|
$
3,514
|
|
$
3,910
|
Capital
expenditures
|
(227)
|
|
(255)
|
|
(600)
|
|
(620)
|
Free cash flow
(e)
|
$
1,094
|
|
$
1,028
|
|
$
2,914
|
|
$
3,290
|
|
|
|
|
|
|
|
|
|
October 1, 2023
|
|
December 31,
2022
|
|
|
|
|
Net debt:
|
|
|
|
|
|
|
|
Total debt
|
$
9,255
|
|
$
10,496
|
|
|
|
|
Less cash and
equivalents
|
1,352
|
|
1,242
|
|
|
|
|
Net debt
(f)
|
$
7,903
|
|
$
9,254
|
|
|
|
|
|
(a)
Debt-to-equity ratio is calculated as total debt divided by
total equity as of the end of the period.
|
(b) Book
value per share is calculated as total equity divided by total
outstanding shares as of the end of the period.
|
(c)
Includes independent research and development and Aerospace
product-development costs.
|
(d) Return
on sales is calculated as net earnings divided by
revenue.
|
(e) We
define free cash flow as net cash provided by operating activities
less capital expenditures. We believe free cash flow is a
useful measure for investors because it
portrays our ability to generate cash from our businesses for
purposes such as repaying
debt, funding business acquisitions,
repurchasing our common stock and paying dividends. We use free
cash flow to assess the
quality of our earnings and as a key
performance measure in evaluating management.
|
(f) We
define net debt as short- and long-term debt (total debt) less cash
and equivalents. We believe net debt is a useful measure
for investors because it reflects the
borrowings that support our operations and capital deployment
strategy. We use net debt as
an important indicator of liquidity and
financial position.
|
EXHIBIT H
BACKLOG -
(UNAUDITED)
DOLLARS IN
MILLIONS
|
|
|
|
Funded
|
|
Unfunded
|
|
Total
Backlog
|
|
Estimated
Potential
Contract Value*
|
|
Total
Estimated
Contract Value
|
Third Quarter 2023:
|
|
|
|
|
|
|
|
|
|
|
Aerospace
|
|
$
19,654
|
|
$
405
|
|
$
20,059
|
|
$
785
|
|
$
20,844
|
Marine
Systems
|
|
30,445
|
|
17,277
|
|
47,722
|
|
3,113
|
|
50,835
|
Combat
Systems
|
|
14,375
|
|
719
|
|
15,094
|
|
6,098
|
|
21,192
|
Technologies
|
|
9,833
|
|
2,852
|
|
12,685
|
|
27,302
|
|
39,987
|
Total
|
|
$
74,307
|
|
$
21,253
|
|
$
95,560
|
|
$
37,298
|
|
$
132,858
|
Second Quarter 2023:
|
|
|
|
|
|
|
|
|
|
|
Aerospace
|
|
$
19,050
|
|
$
447
|
|
$
19,497
|
|
$
888
|
|
$
20,385
|
Marine
Systems
|
|
30,318
|
|
13,410
|
|
43,728
|
|
3,238
|
|
46,966
|
Combat
Systems
|
|
14,349
|
|
718
|
|
15,067
|
|
6,196
|
|
21,263
|
Technologies
|
|
9,732
|
|
3,333
|
|
13,065
|
|
27,639
|
|
40,704
|
Total
|
|
$
73,449
|
|
$
17,908
|
|
$
91,357
|
|
$
37,961
|
|
$
129,318
|
Third Quarter 2022:
|
|
|
|
|
|
|
|
|
|
|
Aerospace
|
|
$
18,536
|
|
$
516
|
|
$
19,052
|
|
$
773
|
|
$
19,825
|
Marine
Systems
|
|
26,966
|
|
15,273
|
|
42,239
|
|
3,263
|
|
45,502
|
Combat
Systems
|
|
13,305
|
|
534
|
|
13,839
|
|
5,754
|
|
19,593
|
Technologies
|
|
10,130
|
|
3,573
|
|
13,703
|
|
27,162
|
|
40,865
|
Total
|
|
$
68,937
|
|
$
19,896
|
|
$
88,833
|
|
$
36,952
|
|
$
125,785
|
|
* The
estimated potential contract value includes work awarded on
unfunded indefinite delivery, indefinite quantity (IDIQ)
contracts and unexercised options associated
with existing firm contracts, including options and other
agreements with
existing customers to purchase new aircraft and
aircraft services. We recognize options in backlog when the
customer
exercises the option and establishes a firm
order. For IDIQ contracts, we evaluate the amount of
funding we expect to
receive and include this amount in our
estimated potential contract value. The actual amount of funding
received in the
future may be higher or lower than our estimate
of potential contract value.
|
EXHIBIT H-1
|
BACKLOG -
(UNAUDITED)
|
DOLLARS IN
MILLIONS
|
https://mma.prnewswire.com/media/2256027/Exhibit_H_1.jpg
EXHIBIT H-2
|
BACKLOG BY SEGMENT -
(UNAUDITED)
|
DOLLARS IN
MILLIONS
|
https://mma.prnewswire.com/media/2256026/Exhibit_H_2.jpg
EXHIBIT I
|
THIRD QUARTER
2023 SIGNIFICANT ORDERS - (UNAUDITED)
|
DOLLARS IN
MILLIONS
|
We received the following significant contract awards during the
third quarter of 2023:
Marine Systems:
- $140 from the U.S. Navy for
advanced nuclear plant studies (ANPS) in support of the
Columbia-class submarine program. The contract including options
has a maximum potential value of $1.3
billion.
- $965 from the Navy for lead yard
services, development studies and design efforts for Virginia-class
submarines.
- $515 from the Navy for
procurement and delivery of initial Virginia-class spare parts to
support maintenance availabilities.
- $220 from the Navy to provide
in-service support of systems and components on the USS Jimmy
Carter (SSN23).
- $40 from the Navy to provide
maintenance for submarines at the Naval Submarine Base New London
in Connecticut. The contract
including options has a maximum potential value of $185.
- A contract from the Navy for the construction of three Flight
III Arleigh Burke-class (DDG-51) guided-missile destroyers.
Combat Systems:
- $770 for various munitions and
ordnance with a maximum potential value of $1.2 billion.
- $345 for two contracts from the
U.S. Army to establish additional capacity for 155mm M795 load,
assemble and pack (LAP) production, and projectile metal parts.
These contracts have a maximum potential value of $730.
- $145 from the Army to provide
system and sustainment technical support services for Abrams main
battle tanks.
- $135 to produce launch pod
containers for the Guided Multiple Launch Rocket System (GMLRS) for
the Army.
- $100 from the Army to produce
Stryker maneuver short-range air defense (M-SHORAD) vehicles.
- $95 from the Army for the
production of Hydra-70 rockets.
Technologies:
- $365 for several key contracts
for classified customers. These contracts have a maximum potential
value of $775.
- $55 to continue infrastructure
modernization of the U.S. Department of Homeland Security's (DHS)
St. Elizabeth's Campus in Washington,
D.C. The contract including options has a maximum potential
value of $710.
- $10 from the U.S. Air Force to
manufacture high-altitude electromagnetic pulse and
radiation-hardened general area alerting, personal area alerting
and ultra-high frequency line of sight communications for the
Global Aircrew Strategic Network Terminal Increment 2 (GASNTi2)
system. The contract has a maximum potential value of $225.
- $30 to provide software
development, integration, testing, technical support, configuration
control and sustainment services for the Air Force. The contract
including options has a maximum potential value of $140.
- $20 from the Administrative
Office of the United States Courts (AOUSC) to provide risk
management, monitoring and oversight and support services to the
Administrative Office Technology Office (AOTO). The contract
including options has a maximum potential value of $115.
- $105 from the Army for computing
and communications equipment under the Common Hardware Systems-5
program.
- $95 for development, production
and support of all hardware and software required for the Airborne
Ruggedized Tactical Environment Mission Information System
(ARTEMIS) for the Navy.
- $90 to modernize the Payments,
Claims, and Enhanced Reconciliation (PACER) application for the
U.S. Department of the Treasury.
EXHIBIT J
AEROSPACE
SUPPLEMENTAL DATA - (UNAUDITED)
DOLLARS IN
MILLIONS
|
|
|
|
Third Quarter
|
Nine Months
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Gulfstream Aircraft Deliveries
(units):
|
|
|
|
|
|
|
|
|
Large-cabin
aircraft
|
|
22
|
|
28
|
|
57
|
|
66
|
Mid-cabin
aircraft
|
|
5
|
|
7
|
|
15
|
|
16
|
Total
|
|
27
|
|
35
|
|
72
|
|
82
|
|
|
|
|
|
|
|
|
|
Aerospace Book-to-Bill:
|
|
|
|
|
|
|
|
|
Orders*
|
|
$
2,916
|
|
$
2,705
|
|
$
7,119
|
|
$
9,600
|
Revenue
|
|
2,032
|
|
2,347
|
|
5,877
|
|
6,117
|
Book-to-Bill Ratio
|
|
1.44x
|
|
1.15x
|
|
1.21x
|
|
1.57x
|
|
* Does not include
customer defaults, liquidated damages, cancellations, foreign
exchange fluctuations and other backlog
adjustments.
|
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SOURCE General Dynamics