GENERAL DYNAMICS CORP | 2013 | FY | 3


CONDENSED CONSOLIDATING STATEMENTS OF EARNINGS (LOSS)
Year Ended December 31, 2011
Parent
Guarantors on a
Combined Basis
Other Subsidiaries
on a Combined Basis
Consolidating
Adjustments
Total
Consolidated
Revenues
$
—

$
26,253

$
6,424

$
—

$
32,677

Cost of sales
(13
)
21,336

5,498

—

26,821

G&A
90

1,499

441

—

2,030

Operating earnings
(77
)
3,418

485

—

3,826

Interest, net
(143
)
—

2

—

(141
)
Other, net
5

27

1

—

33

Earnings before income taxes
(215
)
3,445

488

—

3,718

Provision for income taxes
(43
)
1,097

112

—

1,166

Discontinued operations, net of tax
(26
)
—

—

—

(26
)
Equity in net earnings of subsidiaries
2,724

—

—

(2,724
)
—

Net earnings
$
2,526

$
2,348

$
376

$
(2,724
)
$
2,526

Comprehensive income
$
1,650

$
2,228

$
183

$
(2,411
)
$
1,650

Year Ended December 31, 2012
Parent
Guarantors on a
Combined Basis
Other Subsidiaries
on a Combined Basis
Consolidating
Adjustments
Total
Consolidated
Revenues
$
—

$
26,349

$
5,164

$
—

$
31,513

Cost of sales
(20
)
23,614

4,810

—

28,404

G&A
89

1,618

569

—

2,276

Operating earnings
(69
)
1,117

(215
)
—

833

Interest, net
(158
)
(3
)
5

—

(156
)
Other, net
(126
)
(4
)
(6
)
—

(136
)
Earnings before income taxes
(353
)
1,110

(216
)
—

541

Provision for income taxes
(137
)
854

156

—

873

Equity in net earnings of subsidiaries
(116
)
—

—

116

—

Net loss
$
(332
)
$
256

$
(372
)
$
116

$
(332
)
Comprehensive loss
$
(795
)
$
21

$
(90
)
$
69

$
(795
)
Year Ended December 31, 2013
Parent
Guarantors on a
Combined Basis
Other Subsidiaries
on a Combined Basis
Consolidating
Adjustments
Total
Consolidated
Revenues
$
—

$
27,272

$
3,946

$
—

$
31,218

Cost of sales
20

22,175

3,259

—

25,454

G&A
74

1,664

341

—

2,079

Operating earnings
(94
)
3,433

346

—

3,685

Interest, net
(93
)
1

6

—

(86
)
Other, net
1

6

1

—

8

Earnings before income taxes
(186
)
3,440

353

—

3,607

Provision for income taxes
(56
)
1,058

119

—

1,121

Discontinued operations, net of tax
(129
)
—

—

—

(129
)
Equity in net earnings of subsidiaries
2,616

—

—

(2,616
)
—

Net earnings
$
2,357

$
2,382

$
234

$
(2,616
)
$
2,357

Comprehensive income
$
3,947

$
2,820

$
191

$
(3,011
)
$
3,947


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