← GENERAL DYNAMICS CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net earnings | $3.0b | $2.9b | $3.3b | $3.5b | $3.2b | $3.3b | $3.4b | $3.3b | $3.8b | $4.2b | |
| Net Income (Loss) Attributable to Parent | $3.0b | $2.9b | $3.3b | $3.5b | $3.2b | $3.3b | $3.4b | $3.3b | $3.8b | $4.2b | |
| Net cash used by discontinued operations | ($54.0m) | ($40.0m) | ($20.0m) | ($51.0m) | ($59.0m) | ($20.0m) | $20.0m | ($4.0m) | ($6.0m) | ($10.0m) | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $3.1b | $2.9b | $3.4b | $3.5b | $3.2b | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | — | $0 | $0 | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($107.0m) | $0 | ($13.0m) | — | — | — | — | — | — | — | |
| Amortization of Intangible Assets | $88.0m | $79.0m | $270.0m | $277.0m | $261.0m | $226.0m | $202.0m | $194.0m | $180.0m | $174.0m | |
| Amortization of intangible and finance lease right-of-use assets | — | $79.0m | $327.0m | $363.0m | $355.0m | $322.0m | $298.0m | $255.0m | $242.0m | $244.0m | |
| Depreciation | $366.0m | $362.0m | $493.0m | $466.0m | $523.0m | $568.0m | $586.0m | $608.0m | $644.0m | $680.0m | |
| Depreciation and amortization | $454.0m | $441.0m | $763.0m | $829.0m | $878.0m | $890.0m | $884.0m | $863.0m | $886.0m | $924.0m | |
| Depreciation of property, plant and equipment | $366.0m | $362.0m | $493.0m | $466.0m | $523.0m | $568.0m | $586.0m | $608.0m | $644.0m | $680.0m | |
| Deferred Income Tax Expense (Benefit) | $376.0m | $401.0m | ($3.0m) | $92.0m | ($127.0m) | ($66.0m) | ($178.0m) | ($177.0m) | ($86.0m) | $256.0m | |
| Deferred income tax provision (benefit) | $376.0m | $401.0m | ($3.0m) | $92.0m | ($127.0m) | ($66.0m) | ($178.0m) | ($177.0m) | ($86.0m) | $256.0m | |
| Share-based Payment Arrangement, Expense | $65.0m | $80.0m | $110.0m | $105.0m | $101.0m | $99.0m | $130.0m | $143.0m | $145.0m | $155.0m | |
| Share-based Payment Arrangement, Noncash Expense | $100.0m | $123.0m | $140.0m | $133.0m | $128.0m | $126.0m | $165.0m | $181.0m | $183.0m | $196.0m | |
| Income Tax Expense (Benefit) | $1.2b | $1.2b | $727.0m | $718.0m | $571.0m | $616.0m | $646.0m | $669.0m | $758.0m | $893.0m | |
| Other Nonoperating Income (Expense) | $13.0m | $3.0m | ($16.0m) | $14.0m | $82.0m | $134.0m | $189.0m | $82.0m | $68.0m | $61.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Accounts payable | $567.0m | $657.0m | ($197.0m) | $6.0m | ($215.0m) | $194.0m | $224.0m | ($303.0m) | $247.0m | ($664.0m) | |
| Accounts receivable | ($161.0m) | ($195.0m) | $417.0m | $176.0m | $371.0m | $138.0m | $46.0m | $38.0m | $16.0m | $556.0m | |
| Customer advances and deposits | ($825.0m) | $264.0m | $36.0m | ($105.0m) | ($707.0m) | $354.0m | $2.1b | $2.4b | $343.0m | ($4.0m) | |
| Equity-based compensation expense | $100.0m | $123.0m | $140.0m | $133.0m | $128.0m | $126.0m | $165.0m | $181.0m | $183.0m | $196.0m | |
| General and Administrative Expense | $1.9b | $2.0b | $2.3b | $2.4b | $2.2b | $2.2b | $2.4b | $2.4b | $2.6b | $2.6b | |
| Goodwill | $11.4b | $11.9b | $19.6b | $19.7b | $20.1b | $20.1b | $20.3b | $20.6b | $20.6b | $21.0b | |
| Increase (Decrease) in Accounts Payable | $567.0m | $657.0m | ($197.0m) | $6.0m | ($215.0m) | $194.0m | $224.0m | ($303.0m) | $247.0m | ($664.0m) | |
| Increase (Decrease) in Accounts Receivable | $161.0m | $195.0m | ($417.0m) | ($176.0m) | ($371.0m) | ($138.0m) | ($46.0m) | ($38.0m) | ($16.0m) | ($556.0m) | |
| Increase (Decrease) in Inventories | $154.0m | $182.0m | $591.0m | $376.0m | ($502.0m) | ($405.0m) | $980.0m | $2.2b | $1.2b | ($450.0m) | |
| Inventories | ($154.0m) | ($182.0m) | ($591.0m) | ($376.0m) | $502.0m | $405.0m | ($980.0m) | ($2.2b) | ($1.2b) | $450.0m | |
| Other, net | ($46.0m) | ($103.0m) | ($68.0m) | $236.0m | ($95.0m) | $50.0m | $127.0m | $18.0m | $161.0m | ($207.0m) | |
| Proceeds from Stock Options Exercised | $292.0m | $163.0m | $136.0m | — | — | — | — | — | — | — | |
| Proceeds from fixed-rate notes | $992.0m | $985.0m | $6.5b | $0 | $4.0b | $1.5b | $0 | $0 | $0 | $747.0m | |
| Repayment of fixed-rate notes | ($500.0m) | ($900.0m) | $0 | $0 | $0 | ($3.0b) | ($1.0b) | ($1.2b) | ($500.0m) | ($1.5b) | |
| Stock or Unit Option Plan Expense | $25.0m | $34.0m | $45.0m | $43.0m | $43.0m | $46.0m | $71.0m | $65.0m | $60.0m | $61.0m | |
| Unbilled receivables | ($1.0b) | ($987.0m) | ($800.0m) | ($1.3b) | ($116.0m) | ($410.0m) | ($256.0m) | $913.0m | ($261.0m) | ($146.0m) | |
| Net Cash Provided by (Used in) Operating Activities | $2.2b | $3.9b | $3.1b | $3.0b | $3.9b | $4.3b | $4.6b | $4.7b | $4.1b | $5.1b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $392.0m | $428.0m | $690.0m | $987.0m | $967.0m | $887.0m | $1.1b | $904.0m | $916.0m | $1.2b | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $399.0m | $10.1b | $19.0m | $203.0m | — | — | — | — | — | |
| Payments for (Proceeds from) Other Investing Activities | $43.0m | $14.0m | $7.0m | $2.0m | ($25.0m) | ($5.0m) | $375.0m | $37.0m | $37.0m | $123.0m | |
| Net cash used by investing activities | ($391.0m) | ($788.0m) | ($10.2b) | ($994.0m) | ($974.0m) | ($882.0m) | ($1.5b) | ($941.0m) | ($953.0m) | ($1.3b) | |
| Net Cash Provided by (Used in) Investing Activities | ($391.0m) | ($788.0m) | ($10.2b) | ($994.0m) | ($974.0m) | ($882.0m) | ($1.5b) | ($941.0m) | ($953.0m) | ($1.3b) | |
| Cash flows from financing activities: | |||||||||||
| Repayments of Long-term Debt | $500.0m | $900.0m | $0 | $0 | $2.0b | — | — | — | $500.0m | $1.5b | |
| Payments for Repurchase of Common Stock | $2.0b | $1.6b | $1.8b | $231.0m | $587.0m | $1.8b | $1.2b | $434.0m | $1.5b | $637.0m | |
| Purchases of common stock | ($2.0b) | ($1.6b) | ($1.8b) | ($231.0m) | ($587.0m) | ($1.8b) | ($1.2b) | ($434.0m) | ($1.5b) | ($637.0m) | |
| Dividends Payable, Current | — | — | — | — | — | $331.0m | $347.0m | $362.0m | $390.0m | $407.0m | |
| Dividends paid | $911.0m | $986.0m | $1.1b | $1.2b | $1.2b | $1.3b | $1.4b | $1.4b | $1.5b | $1.6b | |
| Proceeds from (Payments for) Other Financing Activities | ($46.0m) | ($103.0m) | ($68.0m) | $236.0m | ($95.0m) | $50.0m | $127.0m | $18.0m | $161.0m | ($207.0m) | |
| Net cash used by financing activities | ($2.2b) | ($2.4b) | $5.1b | ($2.0b) | ($903.0m) | ($4.6b) | ($3.5b) | ($3.1b) | ($3.4b) | ($3.2b) | |
| Net Cash Provided by (Used in) Financing Activities | ($2.2b) | ($2.4b) | $5.1b | ($2.0b) | ($903.0m) | ($4.6b) | ($3.5b) | ($3.1b) | ($3.4b) | ($3.2b) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($451.0m) | $649.0m | — | ($61.0m) | $1.9b | ($1.2b) | ($361.0m) | $671.0m | ($216.0m) | $636.0m | |
| Net increase (decrease) in cash and equivalents | ($451.0m) | $649.0m | ($2.0b) | ($61.0m) | $1.9b | ($1.2b) | ($361.0m) | $671.0m | ($216.0m) | $636.0m | |
| Cash and equivalents at beginning of year | $2.8b | $2.3b | $3.0b | $902.0m | $2.8b | $1.6b | $1.2b | $1.9b | $1.7b | $2.3b | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $902.0m | $2.8b | $1.6b | $1.2b | $1.9b | $1.7b | $2.3b | |
| Cash, Cash Equivalents, and Short-term Investments | $2.3b | — | — | — | — | — | — | — | — | — | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Income Taxes Paid, Net | $959.0m | $617.0m | $532.0m | $572.0m | $764.0m | $740.0m | $1.2b | $1.1b | $560.0m | $568.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.