GENERAL DYNAMICS CORPGD

GENERAL DYNAMICS CORP New Standards Disclosure

10-KFiled Jan 30, 20261 min read
Recent Accounting Pronouncements. In 2025, we adopted Accounting Standards Update (ASU) 2023-09, Improvements to Income Tax Disclosures, using the prospective method of adoption. The ASU modifies our disclosure for income tax expense.
In November 2024, the FASB issued ASU 2024-03, Disaggregation - Income Statement Expenses. The ASU requires disclosure of certain disaggregated costs and expenses on an annual and interim basis in the notes to the financial statements. ASU 2024-03 is effective for annual periods beginning after December 15, 2026, using the prospective or retrospective methods of adoption, with early adoption permitted. Although we have not determined the method or period of adoption, we expect to disclose additional information as required by the standard. There are other ASUs that have been issued by the FASB but are not yet effective. We do not expect that the adoption of these standards will have a material impact on our results of operations, financial condition or cash flows.
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Historical Timeline

Fiscal YearFiled
2025Jan 30, 2026Showing above
2024Feb 7, 2025
2023Feb 8, 2024
2022Feb 7, 2023
2021Feb 9, 2022
2020Feb 9, 2021
2019Feb 10, 2020
2018Feb 13, 2019
2017Feb 12, 2018
2016Feb 6, 2017
2015Feb 8, 2016

About New Standards Disclosures

New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.

Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsStock CompensationPay vs Performance