← 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 TTM
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net earnings $3.0b
$2.9b -1.46%
$3.3b +14.87%
$3.5b +4.16%
$3.2b -9.10%
$3.3b +2.84%
$3.4b +4.08%
$3.3b -2.21%
$3.8b +14.09%
$4.2b +11.32%
—
Net Income (Loss) Attributable to Parent $3.0b
$2.9b -1.46%
$3.3b +14.87%
$3.5b +4.16%
$3.2b -9.10%
$3.3b +2.84%
$3.4b +4.08%
$3.3b -2.21%
$3.8b +14.09%
$4.2b +11.32%
—
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 $703.0m
Depreciation and amortization $454.0m $441.0m $763.0m $829.0m $878.0m $890.0m $884.0m $863.0m $886.0m $924.0m $941.0m
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 $719.0m
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 $214.0m
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 $214.0m
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:
Accounts receivable ($161.0m) ($195.0m) $417.0m $176.0m $371.0m $138.0m $46.0m $38.0m $16.0m $556.0m $384.0m
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) $384.0m
Unbilled receivables ($1.0b) ($987.0m) ($800.0m) ($1.3b) ($116.0m) ($410.0m) ($256.0m) $913.0m ($261.0m) ($146.0m) $384.0m
Increase (Decrease) in Inventories $154.0m $182.0m $591.0m $376.0m ($502.0m) ($405.0m) $980.0m $2.2b $1.2b ($450.0m) $792.0m
Inventories ($154.0m) ($182.0m) ($591.0m) ($376.0m) $502.0m $405.0m ($980.0m) ($2.2b) ($1.2b) $450.0m $792.0m
Accounts payable $567.0m $657.0m ($197.0m) $6.0m ($215.0m) $194.0m $224.0m ($303.0m) $247.0m ($664.0m) ($207.0m)
Net Cash Provided by (Used in) Operating Activities $2.2b
$3.9b +76.48%
$3.1b -18.85%
$3.0b -5.30%
$3.9b +29.42%
$4.3b +10.71%
$4.6b +7.21%
$4.7b +2.86%
$4.1b -12.70%
$5.1b +24.51%
$7.7b +50.49%
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 ($1.3b)
Cash, Cash Equivalents, and Short-term Investments $2.3b — — — — — — — — — —
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) ($1.5b)
Cash flows from financing activities:
Repayments of Long-term Debt $500.0m $900.0m $0 $0 $2.0b — — — $500.0m $1.5b ($500.0m)
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 ($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) -10.60%
$5.1b +312.01%
($2.0b) -139.26%
($903.0m) +54.78%
($4.6b) -408.31%
($3.5b) +24.38%
($3.1b) +10.86%
($3.4b) -8.89%
($3.2b) +5.31%
—
Net Cash Provided by (Used in) Financing Activities ($2.2b)
($2.4b) -10.60%
$5.1b +312.01%
($2.0b) -139.26%
($903.0m) +54.78%
($4.6b) -408.31%
($3.5b) +24.38%
($3.1b) +10.86%
($3.4b) -8.89%
($3.2b) +5.31%
($3.4b) -6.33%
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, 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 $4.3b
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 $4.3b
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Additional Financial Items
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 —
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) — — — — — — — —
Income Tax Expense (Benefit) $1.2b $1.2b $727.0m $718.0m $571.0m $616.0m $646.0m $669.0m $758.0m $893.0m —
Income Taxes Paid, Net $959.0m $617.0m $532.0m $572.0m $764.0m $740.0m $1.2b $1.1b $560.0m $568.0m —
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) —
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 —
Supplemental disclosure of cash flow information:

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.