The company is focused on competing and winning programs that enable continued growth, performing on commitments and affordably delivering capability, with investments in advanced technologies, a talented workforce, and digital transformation capabilities.

The company is actively exploring both opportunities and risks associated with the broader global security environment, including the conflicts in Ukraine and the Middle East, which could increase demand for defense products and services.

The company reported net awards totaling $6.5 billion in the first quarter of 2024, with significant new awards including $3.1 billion for restricted programs.

The company is working to mitigate challenges caused by the macroeconomic environment, including supporting suppliers, enhancing the workforce, and managing increased costs, delays and disruptions.

The customer provided congressional notification that the Sentinel program is under a Nunn-McCurdy breach review due to increases in construction and procurement cost projections, and the company is working with the customer to address this critical mission.

The company is focused on the efficient conversion of operating income into cash to provide for material cash requirements, including working capital needs, satisfaction of contractual commitments, and investment in the business.

The company faces a global security environment of heightened tensions and instability, threats from state and non-state actors, increasing nuclear tensions, and diverse regional security concerns and political instability.

The macroeconomic factors have contributed, and are expected to continue to contribute, to increased costs, delays, disruptions, and other performance challenges, as well as increased competing demands for limited resources.

The U.S. continues to face an uncertain and evolving political, budget, and regulatory environment, making it difficult to predict the specific course of future defense budgets and impacting customer spending priorities.

The company is a leading provider of space systems, advanced aircraft, missile defense, advanced weapons and long-range fires capabilities, mission systems, networking and communications, strategic deterrence systems, and breakthrough technologies.

The company is actively exploring both opportunities and risks associated with the broader global security environment, potentially increasing demand for defense products and services from allies and partner nations.

The company is focused on competing and winning programs that enable continued growth, performing on commitments and affordably delivering capability our customers need.

The company is focused on the efficient conversion of operating income into cash to provide for material cash requirements, including working capital needs, satisfaction of contractual commitments, and investment in the business.

The company is working to mitigate challenges caused by the macroeconomic environment, including by taking steps to support suppliers and small businesses and enhancing the workforce.

First quarter 2024 G&A costs as a percentage of sales decreased to 10.5 percent from 11.2 percent in the prior year period primarily due to higher sales.

The company is focused on competing and winning programs that enable continued growth, performing on commitments and affordably delivering capability, with investments in advanced technologies and digital transformation capabilities.

The company is focused on its ability to innovate, develop new products and technologies, and progress and benefit from digital transformation to meet the needs of its customers.

The company is focused on breakthrough technologies, such as artificial intelligence, advanced computing and cyber.

The company repurchased shares of common stock during the quarter, including an accelerated share repurchase agreement with Morgan Stanley for $1.0 billion.

In January 2024, the company issued $2.5 billion of unsecured senior notes for general corporate purposes, including debt repayment, share repurchases, and working capital.

The company is focused on shareholder return through dividend payments and share repurchases.

The SEC issued its final climate disclosure rule, which requires registrants to include climate-related disclosures in registration statements and annual reports, with requirements phased in beginning with fiscal year 2025.

The company is continuing to evaluate the disclosure impact of the final climate rule.

For all periods presented, the company had no material related party transactions.

The U.S. and its allies continue to face a global security environment of heightened tensions and instability, which is driving the market for defense products, services and solutions.

The global economic environment has experienced extraordinary challenges, including inflationary pressures, supply chain disruptions, and workforce challenges, which contribute to increased costs and delays.

The U.S. continues to face an uncertain and evolving political, budget and regulatory environment, making it difficult to predict the specific course of future defense budgets.