General Dynamics belongs to trade associations that represent a broad array of professional and industrial interests. These trade associations engage in promoting industry-friendly positions on legislative and policy issues.
Process and Oversight
Decisions by the company to join trade associations are based on an evaluation of several factors, including:
- the degree to which membership in the association provides opportunities for continuing education and professional development of the company's employees;
- whether membership is necessary to qualify for participation in association-sponsored professional opportunities such as development of industry standards that affect the company's products, trade shows, conferences and other industry events; and
- whether the trade association supports strong national security policies which the company believes are in the best interests of the United States as well as General Dynamics shareholders.
Senior management reviews trade memberships annually to assess the company's return on investment and subsequently decides if continued membership is appropriate.
The company's Board of Directors is briefed annually on trade association expenditures.
Trade Association Contributions Summary
In 2014, the total amount spent on trade association dues greater than $5,000 was $2.5M.
The majority of the company's trade association expenditures occur in several large associations including the Aerospace Industries Association (AIA) and the General Aviation Manufacturers Association (GAMA). We, along with senior executives of other aerospace and defense companies, sit on the executive committee of both of these associations and oversee their activities.
Other U.S. trade association contributions over $50,000 in 2014, were the National Shooting Sports Foundation and the Munitions Industrial Base Task Force.
For all of these large associations, the portions of dues we pay which are attributable to lobbying did not exceed 30% of our 2014 dues.
2014 Trade Association Dues: $2.5M*
* Business Development/Customer-related dues greater than $5,000
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