10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOCKHEED MARTIN CORP | |||
Ticker: LMT Fiscal Year: 2010 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Net Sales | |||
| Products | $ 36,448 | 35,763 | 34,091 |
| Services | 9,355 | 8,232 | 7,281 |
| Total Net Sales | 45,803 | 43,995 | 41,372 |
| Cost of Sales | |||
| Products | (32,655) | (31,756) | (30,220) |
| Services | (8,350) | (7,376) | (6,517) |
| Voluntary Executive Separation and Other Charges | (220) | ||
| Other Unallocated Corporate Costs | (742) | (671) | (61) |
| Total Cost of Sales | (41,967) | (39,803) | (36,798) |
| Gross Profit | 3,836 | 4,192 | 4,574 |
| Other Income, Net | 261 | 223 | 475 |
| Operating Profit | 4,097 | 4,415 | 5,049 [1] |
| Interest Expense | (345) | (308) | (332) |
| Other Non-Operating Income (Expense), Net | 74 | 123 | (91) |
| Earnings from Continuing Operations before Income Taxes | 3,826 | 4,230 | 4,626 |
| Income Tax Expense | (1,181) | (1,231) | (1,459) |
| Earnings from Continuing Operations | 2,645 | 2,999 | 3,167 |
| Earnings from Discontinued Operations | 281 | 25 | 50 |
| Net Earnings | 2,926 | 3,024 | 3,217 |
| Basic | |||
| Continuing Operations | 7.26 | 7.79 | 7.92 |
| Discontinued Operations | 0.77 | 0.07 | 0.13 |
| Basic Earnings Per Common Share | 8.03 | 7.86 | 8.05 |
| Diluted | |||
| Continuing Operations | 7.18 | 7.71 | 7.74 |
| Discontinued Operations | 0.76 | 0.07 | 0.12 |
| Diluted Earnings Per Common Share | 7.94 | 7.78 | 7.86 |
| [1] (a) Operating profit included equity in net earnings (losses) of equity investees as follows: (In millions) 2010 2009 2008 Aeronautics $ 7 $ 9 $ 21 Electronic Systems 50 53 43 Space Systems 259 218 224 Total business segments 316 280 288 Corporate activities (4 ) (2 ) — Total $ 312 $ 278 $ 288 | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOCKHEED MARTIN CORP | |||
Ticker: LMT Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Operating Activities | |||
| Net earnings | $ 2,926 | 3,024 | 3,217 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization of plant and equipment | 749 | 750 | 727 |
| Amortization of purchased intangibles | 92 | 104 | 118 |
| Stock-based compensation | 168 | 154 | 155 |
| Deferred income taxes | 576 | 542 | 72 |
| Net adjustments from planned sale of PAE | (73) | ||
| Gain on sale of EIG, net of tax | (184) | ||
| Voluntary executive separation and other charges (credits) | 220 | (193) | |
| Changes in assets and liabilities: | |||
| Receivables | (15) | (719) | (333) |
| Inventories | (227) | (233) | (183) |
| Accounts payable | (364) | (21) | (141) |
| Customer advances and amounts in excess of costs incurred | 685 | 482 | 313 |
| Postretirement benefit plans | (1,027) | (394) | 279 |
| Income taxes | 60 | (289) | 87 |
| Other, net | (39) | (227) | 303 |
| Net cash provided by operating activities | 3,547 | 3,173 | 4,421 |
| Investing Activities | |||
| Expenditures for property, plant and equipment | (820) | (852) | (926) |
| Net proceeds from sale of EIG | 798 | ||
| Acquisitions of businesses / investments in affiliates | (148) | (435) | (233) |
| Net cash used for short-term investment transactions | (171) | (279) | 272 |
| Other | 22 | 48 | (20) |
| Net cash used for investing activities | (319) | (1,518) | (907) |
| Financing Activities | |||
| Repurchases of common stock | (2,420) | (1,851) | (2,931) |
| Common stock dividends | (969) | (908) | (737) |
| Issuance of long-term debt, net of related costs | 1,464 | 491 | |
| Repayments of long-term debt | (242) | (1,103) | |
| Other, net | 26 | 61 | 342 |
| Net cash used for financing activities | (3,363) | (1,476) | (3,938) |
| Effect of exchange rate changes on cash and cash equivalents | 5 | 44 | (56) |
| Net increase (decrease) in cash and cash equivalents | (130) | 223 | (480) |
| Cash and cash equivalents at beginning of year | 2,391 | 2,168 | |
| Cash and Cash Equivalents at end of year | 2,261 | 2,391 | 2,168 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
LOCKHEED MARTIN CORP | ||
Ticker: LMT Fiscal Year: 2010 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| Assets | ||
| Cash and Cash Equivalents | $ 2,261 | 2,391 |
| Short-term Investments | 516 | 346 |
| Receivables | 5,757 | 6,061 |
| Inventories | 2,378 | 2,183 |
| Deferred Income Taxes | 1,038 | 815 |
| Assets of Discontinued Operation Held for Sale | 399 | |
| Other Current Assets | 502 | 681 |
| Total Current Assets | 12,851 | 12,477 |
| Property, Plant, and Equipment, Net | 4,554 | 4,520 |
| Goodwill | 9,605 | 9,948 |
| Deferred Income Taxes | 3,482 | 3,779 |
| Other Assets | 4,575 | 4,387 |
| Total Assets | 35,067 | 35,111 [1] |
| Liabilities and Stockholders' Equity | ||
| Accounts Payable | 1,627 | 2,030 |
| Customer Advances and Amounts in Excess of Costs Incurred | 5,719 | 5,049 |
| Salaries, Benefits and Payroll Taxes | 1,870 | 1,648 |
| Liabilities of Discontinued Operation Held for Sale | 204 | |
| Other Current Liabilities | 1,737 | 1,976 |
| Total Current Liabilities | 11,157 | 10,703 |
| Long-term Debt, Net | 5,019 | 5,052 |
| Accrued Pension Liabilities | 10,607 | 10,823 |
| Other Postretirement Benefit Liabilities | 1,213 | 1,308 |
| Other Liabilities | 3,363 | 3,096 |
| Total Liabilities | 31,359 | 30,982 |
| Stockholders' Equity | ||
| Common Stock, $1 Par Value Per Share | 346 | 373 |
| Additional Paid-in Capital | 0 | |
| Retained Earnings | 12,372 | 12,351 |
| Accumulated Other Comprehensive Loss | (9,010) | (8,595) |
| Total Stockholders' Equity | 3,708 | 4,129 |
| Total Liabilities and Stockholders' Equity | 35,067 | 35,111 |
| [1] We have no significant long-lived assets located in foreign countries. | ||
| External Links | |
| LOCKHEED MARTIN CORP (LMT) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |