Accelerating Growth The portfolio  transformation we  completed in 2012  made us a better,  stronger, more  focused company. Our big investments in commercial  aerospace, our streamlined portfolio and new organizational structure,  combined with our global scale and  experienced leadership team, position us to deliver strong growth in 2013 and well into the future. Contents 2  Shareowner Letter 6  Accelerate Growth 8  Accelerate Performance 10  Accelerate Productivity 12  Accelerate Success 14  Accelerate Our Approach 18  At a Glance 20  Business Highlights 24  Our Commitments 25  Financials 53  Cautionary Note Concerning Factors That May Affect Future Results 98  Board of Directors 99  Leadership 100  Shareowner Information Inside Back Cover Recognition