General Dynamics Reports $63.2 Billion Backlog At End Of Q2 2016

General Dynamics has reported a total backlog of $63.2 billion at the end of second-quarter 2016.

The order activity across the Gulfstream product portfolio and demand for other defense products including another quarter of a book-to-bill ratio (orders divided by revenue) greater than one-to-one in the Information Systems and Technology group, the company said in a statement Wednesday.

The estimated potential contract value, representing management's estimate of value in unfunded indefinite delivery, indefinite quantity (IDIQ) contracts and unexercised options, was $25.8 billion.

Marine Systems' estimated potential contract value more than doubled from the prior quarter to $4.2 billion, with the contract for the U.S. Navy's next generation of oilers. Total potential contract value, the sum of all backlog components, was $89.1 billion at the end of the quarter.