Operating Earnings

2014
2015
$4,309
2016

ROIC

2014
2015
18.1%
2016

Dividends per Share

2014
2015
$2.76
2016
Revenue of $31.4 billion, marked by growth in our defense business.
Record-high operating earnings of $4.3 billion and operating margin of 13.7%.
Return on sales reached a new high of 9.8%, an increase of 40 basis points.
Earnings from continuing operations per diluted share of $9.87, an 8.7% increase, the highest level in our history.
Return on invested capital of 18.1%, 70 basis points higher than 2015.
Returned 160% of free cash from operations in shareholder-friendly ways, including repurchasing 14.2 million shares and paying $911 million in cash dividends.
Years Ended December 31
in millions, except per-share amounts
2014 2015 2016
Revenue $30,852 $31,469 $31,353
Operating Earnings 3,889 4,178 4,309
Operating Margin 12.6% 13.3% 13.7%
EPS from Continuing Operations 7.83 9.08 9.87
Total Backlog 72,410 66,120 59,800
Return on Sales 8.7% 9.4% 9.8%
ROIC 15.1% 17.4% 18.1%

ROIC is a non-GAAP measure. See the company’s Annual Report on Form 10-K for a reconciliation to its most directly comparable GAAP measure.