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Orders and Backlog
The consolidated book-to-bill ratio, defined as orders divided by revenue, was 0.8-to-1 for the quarter. Company-wide backlog was $91.3 billion. Estimated potential contract value, representing management's estimate of additional value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $38.5 billion. Total estimated contract value, the sum of all backlog components, was $129.8 billion.
In the Aerospace segment, orders in the quarter totaled $2.7 billion. Aerospace backlog of $20 billion is 2.8% above the year-ago quarter.
In the defense segments, orders in the quarter totaled $7.4 billion, with particular strength in Combat Systems, which had a book-to-bill ratio of 1.5-to-1. Significant awards in the defense segments included two contracts from the Canadian government, with options having combined maximum potential value of $1.9 billion shared with an industry partner, for the Logistics Vehicle Modernization (LVM) program; $205 million, with options having a maximum potential value of $1.1 billion, for planning yard services for the Arleigh Burke-class (DDG-51) guided-missile destroyer program; a $25 million contract from the U.S. Army, with maximum potential value of $535 million, for systems technical support of the Stryker vehicle fleet; $205 million, with options having a maximum potential value of $525 million, from the North Carolina Department of Health and Human Services to operate its Medicaid Management Information System; various munitions and ordnance contracts with maximum potential value totaling $460 million if all options are exercised; and several key contracts for classified customers with maximum potential value of $665 million.
Posted In: GD
