Slide 1: Fourth-Quarter and Full-Year 2021 Highlights and 2022 Outlook
AEROSPACE MARINE SYSTEMS COMBAT SYSTEMS TECHNOLOGIES Fourth-Quarter and Full-Year 2021 Highlights and 2022 Outlook January 26, 2022
Slide 2: Forward-Looking Statements; Non-GAAP Measures
Forward-Looking Statements; Non-GAAP Measures This presentation contains information about the company’s expectations of future performance, including future financial or operating performance. This information constitutes “forward-looking statements” within the meaning of the Private Securities Lit
Slide 3: Full-Year 2021 Financial Highlights
Full-Year 2021 Financial Highlights $ In Millions, Except EPS 2021 vs 2020 Revenue $ 38,469 1.4% Operating Earnings $ 4,163 0.7% Net Earnings $ 3,257 2.8% EPS, Diluted $ 11.55 5.0% % Net Earnings Cash From Operations $ 4,271 131% Free Cash Flow* $ 3,384 104% * See our earnings press release regardin
Slide 4: Fourth-Quarter 2021 Financial Highlights
Fourth-Quarter 2021 Financial Highlights $ In Millions, Except EPS 4Q21 vs 3Q21 Revenue $ 10,292 7.6% Operating Earnings $ 1,186 9.8% Net Earnings $ 952 10.7% EPS, Diluted $ 3.39 10.4% % Net Earnings Cash From Operations $ 1,682 177% Free Cash Flow* $ 1,297 136% * See our earnings press release rega
Slide 5: Aerospace
Aerospace $ In Millions Revenue Operating Earnings Operating Margin $2,560 $354 13.8% $2,066 $262 12.7% $1,887 $220 $195 12.0% $1,622 11.7% 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 • Strong Sequential Operating Improvement – G500/G600 delivery rate and profitability increasing – S
Slide 6: Marine Systems
Marine Systems $ In Millions Revenue Operating Earnings Operating Margin $2,870 $235 8.7% $229 $2,637 $2,536 $210 8.3% $2,483 8.2% $200 8.1% 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 • Strong, Sustained Growth – Full-year increase of 5.5% to record revenue of $10.5 billion – 17 con
Slide 7: Combat Systems
Combat Systems $ In Millions Revenue Operating Earnings Operating Margin 15.8% $281 $1,899 $1,887 $276 14.9% $1,820 $1,745 $266 14.0% 13.4% $244 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 • All Businesses Generated Higher Full-Year Revenue • Sustained Strong Operating Performance –
Slide 8: Technologies
Technologies $ In Millions Revenue Operating Earnings Operating Margin 11.2% $334 $3,199 $3,163 $3,120 $327 10.5% $2,975 $306 $308 9.6% 9.7% 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 • Revenue Impacted by Order Delays and Supply Chain Disruptions – GDIT up 2.2% for the year – Missi
Slide 9: Financial Guidance
Financial Guidance 2021 Actual 2022 Guidance EPS, diluted $11.55 $12.00 – 12.15 Revenue ($B) Operating Margin Revenue ($B) Operating Margin $8.1 ≈ $8.4 Aerospace 12.7% ≈ 12.8% 119 deliveries ≈ 123 deliveries Marine Systems $10.5 8.3% ≈ $10.8 ≈ 8.6% Combat Systems $7.4 14.5% $7.15 – 7.25 ≈ 14.5% Tech
Slide 10: Appendix
Appendix GENERAL DYNAMICS 10
Slide 11: Non-GAAP Financial Measure – EBITDA
Non-GAAP Financial Measure – EBITDA Fourth Quarter Full Year ($ in millions) 2021 2020 2021 2020 Earnings before interest, taxes, depreciation and amortization: Net earnings $ 952 $ 1,002 $ 3,257 $ 3,167 Interest, net 93 120 424 477 Provision for income tax, net 180 183 616 571 Depreciation of prope
Slide 12: Non-GAAP Financial Measure – Technologies EBITDA
Non-GAAP Financial Measure – Technologies EBITDA Fourth Quarter Full Year ($ in millions) 2021 2020 2021 2020 Earnings before interest, taxes, depreciation and amortization: Operating earnings $ 334 $ 352 $ 1,275 $ 1,211 Other, net 30 12 101 67 Depreciation of property, plant and equipment 41 35 151
Slide 13: General Dynamics
GENERAL DYNAMICS