Trends and Analysis: Analyze the trends in the Income Statement over time by comparing the current period to previous periods. Identify any significant revenue, expense, or profitability changes and explain their potential impact on the business. Discuss any challenges or limitations in interpreting the statement.

General dynamics CONSOLIDATED STATEMENT OF EARNINGS

Year Ended December $31$

$($Dollars in millions, except per$-$share amounts$)202320222021$

Revenue:

Products $ $24,595$ $ $23,022$ $ $22,428$

Services $17,67716,38516,041$

$42,27239,40738,469$

Operating costs and expenses:

Products $(20,591)(18,981)(18,524)$

Services $(15,009)(13,804)(13,537)$

General and administrative $($G&A$)(2,427)(2,411)(2,245)$

$(38,027)(35,196)(34,306)$

Operating earnings $4,2454,2114,163$

Other, net $82189134$

Interest, net $(343)(364)(424)$

Earnings before income tax $3,9844,0363,873$

Provision for income tax, net $(669)(646)(616)$

Net earnings $ $3,315$ $ $3,390$ $ $3,257$

Earnings per share

Basic $ $12\mathrm{.}14$ $ $12\mathrm{.}31$ $ $11\mathrm{.}61$

Diluted $ $12\mathrm{.}02$ $ $12\mathrm{.}19$ $ $11\mathrm{.}55$