The Institute for Defense Analyses conducted a program review, including a detailed contract analysis in support of the Director of Performance Assessments and Root Cause Analyses, in his root cause analysis for the Navys Advanced Arresting Gear (AAG) program. This contract analysis is based upon the premise that a contract represents ground truth in a program. Analyzed herein are the AAG System Design and Development (SDD) contract, as well as the combined Electromagnetic Aircraft Launch System/AAG production contract. Discussed are several issues that bear upon the significant increase in cost of the AAG SDD contract that has occurred since 2003, as well as the factors that bear upon the mission readiness of the first ship of the Navys CVN-78 class of aircraft carriers. In the process of conducting this analysis, the research team learned about a few issues, which we are recording in this document. In an attempt to track funding in this program, we found that not only have there been three baselines, but the unit definitions have changed so much that they are only comparable for total research, development, test, and evaluation funds, but not procurement. We also learned about a cybersecurity matter.