通用动力 2025年季度报告

(Mark One)[☑] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR[☐] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number1-3671 GENERAL DYNAMICS CORPORATION emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”in Rule 12b-2 of the Exchange Act.Large accelerated filerüAccelerated filer ___ Non-accelerated filer ___ Smaller reporting company___☐Emerging growth company___☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ___ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes___☐Noü268,993,342shares of the registrant’s common stock, $1 par value per share, were outstanding on June29, 2025. PART II -OTHER INFORMATIONLegal Proceedings Item 1 -Item 1A -Risk FactorsItem 2 -Unregistered Sales of Equity Securities and Use of ProceedsItem 5 -Other InformationItem 6 -ExhibitsSIGNATURES2 Net earningsCash dividends declared Equity-based awards—165Shares purchased—— June 30, 2024 The accompanying Notes to Unaudited Consolidated Financial Statements are an integral part of these financial statements. 8 (Dollars in millions, except share and per-share amounts or unless otherwise noted)A.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General Dynamics is a global aerospace and defense company that offers a broad portfolio of products and services inbusiness aviation; ship construction and repair; land combat vehicles, weapons systems and munitions; and technologyproducts and services. notes to these financial statements.Basis of Consolidation and Classification.The unaudited Consolidated Financial Statements include the accountsofGeneral Dynamics Corporation and our wholly owned and majority-owned subsidiaries.We eliminate allintercompany balances and transactions in the unaudited Consolidated Financial Statements. Consistent with industry practice, we classify assets and liabilities related to long-term contracts as current, eventhough some of these amounts may not be realized within one year.Interim Financial Statements.The unaudited Consolidated Financial Statements have been prepared pursuant to of the information and footnote disclosures included in financial statements prepared in accordance with U.S. generallyaccepted accounting principles (GAAP) to be condensed or omitted. days in our first and fourth quarters varies slightly from year to year. Operating results for the three- and six-monthperiods ended June29, 2025, are not necessarily indicative of the results that may be expected for the year endingDecember31, 2025. Property, Plant and Equipment, Net.Property, plant and equipment (PP&E) is carried at historical cost, net ofaccumulated depreciation. Net PP&E consisted of the following:June 29, 2025December 31, 2024 FinancialAccounting Standards Board(FASB)but are not yet effective,refer to the Recent AccountingPronouncements section in our Annual Report on Form 10-K for the year ended condition or cash flows.B.REVENUEPerformance Obligations.A performance obligation is a promise in a contract to transfer a distinct good or service tothe customer, and is the unit of account for revenue. A contract’s transaction price is allocated to each distinct standalone selling price of each distinct good or service in the contract. The primary method used to estimatestandalone selling price is the expected cost plus a margin approach, under which we forecast our expected costs ofsatisfying a performance obligation and then add an appropriate margin for that distinct good or service. We classify changes in customer specifications or requirements. In most instances, contract modifications are for goods or servicesthat are not distinct and, therefore, are accounted for as part of the existing contract.Our performance obligations are satisfied over time as work progresses or at a point in time.Revenue from productsand services transferred to customers over time accounted for76% of our revenue for the three- and six-month periodsended June29, 2025, and75% and77% for the three- and six-month periods ended June30, 2024, respectively.Substantially all of our revenue in the defense segments is recognized over time because control is transferredcontinuously to our customers. Typically, revenue is recognized over time using costs incurred to date relative to total Revenue from goods and services transferred to customers at a point in time accounted for24% of our revenue forthe three- and six-month periods ended June29, 2025, and25% and23% for the three- and six-month periods endedJune30, 2024, respectively.Most of