| Industries |
|---|
| Investment Banking and Brokerage |
| Consumer Discretionary |
| Aerospace and Defense |
| Asset Management and Custody Banks |
| Automobiles and Components |
| Electrical Components and Equipment |
| Exposures |
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| Regime |
| Military |
| Express intent |
| Provide |
| Political reform |
| Event Codes |
|---|
| Military blockade |
| Yield to order |
| Solicit support |
| Warn |
| Force |
| Human death |
| Consult |
| Endorse |
| Accident |
| Pessimistic comment |
| Release or return |
| Host meeting |
| Grant |
| Demand |
| Agree |
| Wiki | Wiki Summary |
|---|---|
| General Dynamics Ajax | The Ajax, formerly known as the Scout SV (Specialist Vehicle), is a group of armoured fighting vehicles being developed by General Dynamics UK for the British Army.The Ajax is a development of the ASCOD armoured fighting vehicles used by the Spanish Armed Forces and Austrian Armed Forces. The vehicles were originally developed by Steyr-Daimler-Puch Spezialfahrzeug and Santa Bárbara Sistemas in the early 1990s. |
| General Dynamics F-111 Aardvark | The General Dynamics F-111 Aardvark is a retired supersonic, medium-range, multirole combat aircraft. Production variants of the F-111 had roles that included ground attack (e.g. |
| General Dynamics Electric Boat | General Dynamics Electric Boat (GDEB) is a subsidiary of General Dynamics Corporation. It has been the primary builder of submarines for the United States Navy for more than 100 years. |
| General Dynamics–Grumman EF-111A Raven | The General Dynamics–Grumman EF-111A Raven is an electronic-warfare aircraft designed to replace the EB-66 Destroyer in the United States Air Force. Its crews and maintainers often called it the "Spark-Vark", a play on the F-111's "Aardvark" nickname. |
| Propagation of uncertainty | In statistics, propagation of uncertainty (or propagation of error) is the effect of variables' uncertainties (or errors, more specifically random errors) on the uncertainty of a function based on them. When the variables are the values of experimental measurements they have uncertainties due to measurement limitations (e.g., instrument precision) which propagate due to the combination of variables in the function. |
| Uncertainty principle | In quantum mechanics, the uncertainty principle (also known as Heisenberg's uncertainty principle) is any of a variety of mathematical inequalities asserting a fundamental limit to the accuracy with which the values for certain pairs of physical quantities of a particle, such as position, x, and momentum, p, can be predicted from initial conditions.\nSuch variable pairs are known as complementary variables or canonically conjugate variables; and, depending on interpretation, the uncertainty principle limits to what extent such conjugate properties maintain their approximate meaning, as the mathematical framework of quantum physics does not support the notion of simultaneously well-defined conjugate properties expressed by a single value. |
| Fear, uncertainty, and doubt | Fear, uncertainty, and doubt (often shortened to FUD) is a propaganda tactic used in sales, marketing, public relations, politics, polling and cults. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear. |
| Cone of Uncertainty | In project management, the Cone of Uncertainty describes the evolution of the amount of best case uncertainty during a project. At the beginning of a project, comparatively little is known about the product or work results, and so estimates are subject to large uncertainty. |
| Australian Government | The Australian Government, also known as the Commonwealth Government, is the national government of Australia, a federal parliamentary constitutional monarchy. Like other Westminster-style systems of government, the Australian Government is made up of three branches: the executive (the prime minister, the ministers, and government departments), the legislative (the Parliament of Australia), and the judicial. |
| Local government | Local government is a generic term for the lowest tiers of public administration within a particular sovereign state. This particular usage of the word government refers specifically to a level of administration that is both geographically-localised and has limited powers. |
| Military government | A military government is generally any government that is administered by military forces, whether or not this government is legal under the laws of the jurisdiction at issue, and whether this government is formed by natives or by an occupying power. It is usually carried out by military workers. |
| Borne government | The Borne government is the forty-third and current government of the French Fifth Republic, formed on 16 May 2022 and headed by Élisabeth Borne as Prime Minister under the presidency of Emmanuel Macron.\n\n\n== Context ==\n\n\n=== Formation ===\nOn 16 May 2022, Jean Castex tendered the resignation of his government to the President of the Republic. |
| Customer service | Customer service is the provision of service to customers before, during, and after a purchase. This makes it an important part of the value chain of clients. |
| Aerospace engineering | Aerospace engineering is the primary field of engineering concerned with the development of aircraft and spacecraft. It has two major and overlapping branches: aeronautical engineering and astronautical engineering. |
| International Criminal Court | The International Criminal Court (ICC or ICCt) is an intergovernmental organization and international tribunal seated in The Hague, Netherlands. It is the first and only permanent international court with jurisdiction to prosecute individuals for the international crimes of genocide, crimes against humanity, war crimes and the crime of aggression. |
| Islamic International Peacekeeping Brigade | The Islamic International Peacekeeping Brigade (Russian: Исламская международная миротворческая бригада; abbreviated IIPB), also known as the Islamic International Brigade, the Islamic Peacekeeping Army, was the name of an international Islamist mujahideen organization, founded in 1998. IIPB was designated a terrorist entity by the United States in February 2003. |
| Operation Mincemeat | Operation Mincemeat was a successful British deception operation of the Second World War to disguise the 1943 Allied invasion of Sicily. Two members of British intelligence obtained the body of Glyndwr Michael, a tramp who died from eating rat poison, dressed him as an officer of the Royal Marines and placed personal items on him identifying him as the fictitious Captain (Acting Major) William Martin. |
| Emergency operations center | An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands. |
| Operation (mathematics) | In mathematics, an operation is a function which takes zero or more input values (called operands) to a well-defined output value. The number of operands (also known as arguments) is the arity of the operation. |
| Operations director | The role of operations director generally encompasses the oversight of operational aspects of company strategy with responsibilities to ensure operation information is supplied to the chief executive and the board of directors as well as external parties.\n\n\n== Description ==\nThe role of operations director can vary according to the size of a company, and at some companies many even encompass some or all the functions of a chief operating officer.The Institute of Directors of the United Kingdom defines the role as overseeing "all operational aspects of company strategy" and "responsible for the flow of operations information to the chief executive, the board and, where necessary, external parties such as investors or financial institutions". |
| High availability | High availability (HA) is a characteristic of a system which aims to ensure an agreed level of operational performance, usually uptime, for a higher than normal period.\nModernization has resulted in an increased reliance on these systems. |
| Availability heuristic | The availability heuristic, also known as availability bias, is a mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision. The availability heuristic operates on the notion that if something can be recalled, it must be important, or at least more important than alternative solutions which are not as readily recalled. |
| Availability factor | The availability factor of a power plant is the amount of time that it is able to produce electricity over a certain period, divided by the amount of the time in the period. Occasions where only partial capacity is available may or may not be deducted. |
| Route availability | Route Availability (RA) is the system by which the permanent way and supporting works (bridges, embankments, etc.) of the railway network of Great Britain are graded. All routes are allocated an RA number between 1 and 10. |
| Continuous availability | Continuous availability is an approach to computer system and application design that protects users against downtime, whatever the cause and ensures that users remain connected to their documents, data files and business applications. Continuous availability describes the information technology methods to ensure business continuity.In early days of computing, availability was not considered business critical. |
| Available-to-promise | Available-to-promise (ATP) is a business function that provides a response to customer order inquiries, based on resource availability.\n It generates available quantities of the requested product, and delivery due dates. |
| Net income | In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period.It is computed as the residual of all revenues and gains less all expenses and losses for the period, and has also been defined as the net increase in shareholders' equity that results from a company's operations. It is different from gross income, which only deducts the cost of goods sold from revenue. |
| Military budget | A military budget (or military expenditure), also known as a defense budget, is the amount of financial resources dedicated by a state to raising and maintaining an armed forces or other methods essential for defense purposes.\n\n\n== Financing militaries ==\nMilitary budgets often reflect how strongly a country perceives the likelihood of threats against it, or the amount of aggression it wishes to conjure. |
| Smart contract | A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need in trusted intermediators, arbitrations and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.Vending machines are mentioned as the oldest piece of technology equivalent to smart contract implementation. |
| Funding of science | Research funding is a term generally covering any funding for scientific research, in the areas of natural science, technology, and social science. Different methods can be used to disburse funding, but the term often connotes funding obtained through a competitive process, in which potential research projects are evaluated and only the most promising receive funding. |
| Map projection | In cartography, map projection is the term used to describe a broad set of transformations employed to represent the two-dimensional curved surface of a globe on a plane. In a map projection, coordinates, often expressed as latitude and longitude, of locations from the surface of the globe are transformed to coordinates on a plane. |
| Projections of population growth | Population projections are attempts to show how the human population statistics might change in the future. These projections are an important input to forecasts of the population's impact on this planet and humanity's future well-being. |
| The Blue Book Network | The Blue Book Network, also known as The Contractor's Blue Book or simply as The Blue Book, is a marketing, workflow software and print media company. \nThe company name is rooted in the fact that for over 104 years they have published numerous regional buyers guides listing commercial construction companies, largely subcontractors and suppliers. |
| Altay (main battle tank) | Altay is a Turkish modern main battle tank based on South Korean K2 Black Panther to be produced by BMC under design assistance and technology transfer by Hyundai Rotem. It is named in honor of Army General Fahrettin Altay who commanded the 5th Cavalry Corps in the final stage of the Turkish War of Independence. |
| England | England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. |
| Construction | Construction is a general term meaning the art and science to form objects, systems, or organizations, and comes from Latin constructio (from com- "together" and struere "to pile up") and Old French construction. To construct is the verb: the act of building, and the noun is construction: how something is built, the nature of its structure. |
| Risk Factors |
|---|
| GENERAL DYNAMICS CORP ITEM 1A RISK FACTORS An investment in General Dynamics’ common stock or debt securities is subject to risks and uncertainties |
| Investors should consider the following factors, in addition to the other information contained or incorporated by reference in this Annual Report on Form 10-K, before deciding to purchase the company’s securities |
| Because three of General Dynamics’ four major business groups serve the defense market, the company’s sales are highly concentrated with the US government |
| The customer relationship with the US government involves certain risks that are unique |
| In addition to the US government, the company’s defense businesses rapidly have expanded their sales to international customers in recent years, which has exposed the company to a different set of risks |
| The Aerospace group’s market presents its own risks that are largely tied to US and global economic conditions |
| Despite the varying nature of the defense, international and business-aviation operations and the markets they serve, each shares some common risks, such as the ongoing development of high-technology products and the price, availability and quality of materials and suppliers |
| The company depends on the US government for a significant portion of its sales |
| In each of the past three years, approximately 67 percent of the company’s net sales were to the US government |
| US defense spending has historically been cyclical |
| Defense budgets have received their strongest support when perceived threats to national security raise the level of concern over the country’s safety |
| As these threats subside, spending on the military tends to decrease |
| Accordingly, while Department of Defense funding has grown rapidly over the past few years, there is no assurance that this trend will continue |
| Rising budget deficits, the cost of the Global War on Terrorism and increasing costs for domestic programs continue to put pressure on all areas of discretionary spending, which could ultimately impact the defense budget |
| Wartime support for defense spending could wane if the country’s troop deployments in support of operations in Iraq and Afghanistan are reduced |
| A decrease in US government defense spending or changes in spending allocation could result in one or more of the company’s programs being reduced, delayed or terminated |
| Reductions in the company’s existing programs, unless offset by other programs and opportunities, could adversely affect its ability to sustain and grow its future sales and earnings |
| US government contracts generally are not fully funded at inception and are subject to termination |
| The company’s US government sales are funded by customer budgets, which operate on an October-to-September fiscal year |
| In February of each year, the President of the United States presents to the Congress the budget for the upcoming fiscal year |
| This budget proposes funding levels for every federal agency and is the result of months of policy and program reviews throughout the Executive branch |
| From February through September of each year, the appropriations and authorization committees of Congress review the President’s budget proposals and establish the funding levels for the upcoming fiscal year in appropriations and authorization legislation |
| Once these levels are enacted into law, the Executive Office of the President administers the funds to the agencies |
| There are two primary risks associated with this process |
| Changes in congressional schedules, negotiations for program funding levels or unforeseen world events can interrupt the funding for a program or contract |
| This, in fact, occurred during the 2006 budget process, in which the defense appropriations bill was not approved until three months into the 2006 fiscal year, delaying contract orders that would have been awarded in 2005 |
| Second, funds for multi-year contracts can be changed in subsequent years in the appropriations process |
| In addition, the US government has increasingly relied on indefinite delivery, indefinite quantity (IDIQ) contracts and other procurement vehicles that are subject to a competitive bidding and funding process even after the award of the basic contract, adding an additional element of uncertainty to future funding levels |
| Delays in the funding process or changes in funding can impact the timing of available funds or can lead to changes in program content or termination at the government’s convenience |
| The loss of anticipated funding or the termination of multiple or large programs could have an adverse effect on the company’s future sales and earnings |
| The Aerospace group is subject to changing customer demand or preferences for business aircraft |
| The Aerospace group’s business-jet market is influenced in part by the capital goods sector and the demand for business-aviation products by US and foreign businesses, the US and other governments, and high-net-worth individuals |
| The group’s future results depend on a number of factors, some of which are beyond the company’s control |
| These factors include general economic conditions and price and demand pressures in the market |
| A severe downturn in these market factors could adversely affect the sales and profitability of the company’s Aerospace group |
| The company’s earnings and margins depend on its ability to perform under its contracts |
| The company’s contracts require management to make various assumptions and projections about the outcome of future events over a period of several years |
| These projections can include future labor productivity and availability, the nature and complexity of the work to be performed, the cost and availability of materials, the impact of delayed performance, and the timing of product deliveries |
| If there is a significant change in one or more of these assumptions, circumstances or estimates, or if the company is unable to control the costs incurred in performing under these contracts, the profitability of one or more of these contracts may be adversely affected |
| General Dynamics 2005 Annual Report 13 ______________________________________________________________________ [41]Table of Contents The company’s earnings and margins depend on subcontractor performance and raw material and component availability and pricing |
| The company relies on subcontractors and other companies to provide raw materials, major components and subsystems for its products or to perform a portion of the services that the company provides to its customers |
| Occasionally, the company relies on only one or two sources of supply, which, if disrupted, could have an adverse effect on the company’s ability to meet its commitments to customers |
| The company depends on these subcontractors and vendors to fulfill their contractual obligations in a timely and satisfactory manner in full compliance with customer requirements |
| If one or more of the company’s subcontractors or suppliers is unable to satisfactorily provide on a timely basis the agreed-upon supplies or perform the agreed-upon services, the company’s ability to perform its obligations as a prime contractor may be adversely affected |
| International sales and operations are subject to greater risks that sometimes are associated with doing business in foreign countries |
| The company’s international business may pose greater risks than its business in the United States because in some countries there is increased potential for changes in economic, legal and political environments |
| The company’s international business is also sensitive to changes in a foreign government’s national priorities and budgets |
| International transactions frequently involve increased financial and legal risks arising from foreign exchange rate variability and differing legal systems and customs in other countries |
| In addition, some international customers require contractors to agree to offset programs that may require in-country purchases or manufacturing or financial support arrangements as a condition to awarding contracts |
| The contracts may include penalties in the event the company fails to perform in accordance with the offset requirements |
| An unfavorable event or trend in any one or more of these factors could adversely affect the company’s sales and earnings associated with its international business |
| The company’s future success will depend, in part, on its ability to develop new technologies and maintain a qualified workforce to meet the needs of its customers |
| Virtually all of the products produced and sold by General Dynamics are highly engineered and require sophisticated manufacturing and system integration techniques and capabilities |
| Both the commercial and government markets in which the company operates are characterized by rapidly changing technologies |
| The product and program needs of the company’s government and commercial customers change and evolve regularly |
| Accordingly, the company’s future performance in part depends on its ability to identify emerging technological trends, develop and manufacture competitive products, and bring those products to market quickly at cost-effective prices |
| In addition, because of the highly specialized nature of its business, the company must be able to hire and retain the skilled and appropriately qualified personnel necessary to perform the services required by the company’s customers |
| If the company is unable to develop new products that meet customers’ changing needs or successfully attract and retain qualified personnel, future sales and earnings may be adversely affected |
| Developing new technologies entails significant risks and uncertainties that may not be covered by indemnity or insurance |
| While the company maintains insurance for some business risks, it is not possible to obtain coverage to protect against all operational risks and liabilities |
| The company generally seeks indemnification where the US government is permitted to extend indemnification under applicable law |
| In addition, the company generally seeks limitation of potential liability related to the sale and use of its homeland security products and services through qualification by the Department of Homeland Security under the SAFETY Act provisions of the Homeland Security Act of 2002 |
| The company may elect to provide products or services even in instances where it is unable to obtain such indemnification or qualification |
| FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements that are based on management’s expectations, estimates, projections and assumptions |
| Words such as “expects,” “anticipates,” “plans,” “believes,” “scheduled,” “estimates” and variations of these words and similar expressions are intended to identify forward-looking statements |
| These include but are not limited to projections of revenues, earnings, segment performance, cash flows, contract awards, aircraft production, deliveries and backlog stability |
| Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended |
| These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict |
| Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors, including, without limitation, the risk factors discussed in this section |
| All subsequent written and oral forward-looking statements attributable to the company or any person acting on the company’s behalf are qualified by the cautionary statements in this section |
| The company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this report |