Cover and table of contents

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Cover and table of contents

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

[☑] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 30, 2025

OR

[☐] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______

Commission File Number 1-3671

GENERAL DYNAMICS CORPORATION

(Exact name of registrant as specified in its charter)

Delaware13-1673581
State or other jurisdiction of incorporation or organizationI.R.S. Employer Identification No.
11011 Sunset Hills RoadReston,Virginia20190
Address of principal executive officesZip code

(703) 876-3000

Registrant’s telephone number, including area code

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common StockGDNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ü No ___

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ü No ___

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ü Accelerated filer ___ Non-accelerated filer ___

Smaller reporting company___☐ Emerging growth company___****☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ___

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes___****☐ No ü

268,396,163 shares of the registrant’s common stock, $1 par value per share, were outstanding on March 30, 2025.

INDEX

PART I -FINANCIAL INFORMATIONPAGE
Item 1 -Unaudited Consolidated Financial Statements
Consolidated Statement of Earnings3
Consolidated Statement of Comprehensive Income4
Consolidated Balance Sheet5
Consolidated Statement of Cash Flows6
Consolidated Statement of Shareholders’ Equity7
Notes to Unaudited Consolidated Financial Statements8
Item 2 -Management’s Discussion and Analysis of Financial Condition and Results of Operations25
Item 3 -Quantitative and Qualitative Disclosures About Market Risk36
Item 4 -Controls and Procedures36
FORWARD-LOOKING STATEMENTS37
PART II -OTHER INFORMATION38
Item 1 -Legal Proceedings38
Item 1A -Risk Factors38
Item 2 -Unregistered Sales of Equity Securities and Use of Proceeds38
Item 5 -Other Information38
Item 6 -Exhibits39
SIGNATURES40

PART I – FINANCIAL INFORMATION

Next: Item 1. UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS