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: 2015 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net sales | |||
| Products | $ 35,882 | 36,093 | 35,691 |
| Services | 10,250 | 9,507 | 9,667 |
| Total net sales | 46,132 | 45,600 | 45,358 |
| Cost of sales | |||
| Products | (32,006) | (31,965) | (31,346) |
| Services | (9,011) | (8,393) | (8,588) |
| Goodwill impairment charges | (119) [1] | (195) | |
| Severance charges | (102) [2] | (201) | |
| Other unallocated, net | 187 | 132 | (841) |
| Total cost of sales | (40,932) | (40,345) | (41,171) |
| Gross profit | 5,200 | 5,255 | 4,187 |
| Other income, net | 236 | 337 | 318 |
| Operating profit | 5,436 | 5,592 | 4,505 |
| Interest expense | (443) | (340) | (350) |
| Other non-operating income, net | 30 | 6 | |
| Earnings from continuing operations before income taxes | 5,023 | 5,258 | 4,155 |
| Income tax expense | (1,418) | (1,644) | (1,205) |
| Net earnings from continuing operations | 3,605 | 3,614 | 2,950 |
| Net earnings from discontinued operations | 31 | ||
| Net earnings | 3,605 | 3,614 | 2,981 |
| Earnings per common share | |||
| Basic | |||
| Continuing operations per common share in USD | 11.62 | 11.41 | 9.19 |
| Discontinued operations per common share in USD | 0.10 | ||
| Basic earnings per common share in USD | 11.62 | 11.41 | 9.29 |
| Diluted | |||
| Continuing operations per common share in USD | 11.46 | 11.21 | 9.04 |
| Discontinued operations per common share in USD | 0.09 | ||
| Diluted earnings per common share in USD | 11.46 | 11.21 | 9.13 |
| [1] We recognized non-cash goodwill impairment charges related to the Technical Services reporting unit within our MFC business segment in 2014 and 2013. See Note 1 for more information. | |||
| [2] See Note 15 for information on charges related to certain severance actions at our business segments. Severance charges for initiatives that are not significant are included in business segment operating profit. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOCKHEED MARTIN CORP | |||
Ticker: LMT Fiscal Year: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net earnings | $ 3,605 | 3,614 | 2,981 |
| Other comprehensive income (loss), net of tax | |||
| Postretirement benefit plans | |||
| Net other comprehensive (loss) income recognized during the period, net of tax benefit (expense) of $0.2 billion in 2015, $1.5 billion in 2014 and $(1.6) billion in 2013 | (351) | (2,870) | 2,868 |
| Amounts reclassified from accumulated other comprehensive loss, net of tax expense of $464 million in 2015, $386 million in 2014 and $555 million in 2013 | 850 | 706 | 1,015 |
| Other, net | (73) | (105) | 9 |
| Other comprehensive income (loss), net of tax | 426 | (2,269) | 3,892 |
| Comprehensive income | 4,031 | 1,345 | 6,873 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
LOCKHEED MARTIN CORP | |||
Ticker: LMT Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Operating activities | |||
| Net earnings | $ 3,605 | 3,614 | 2,981 |
| Adjustments to reconcile net earnings to net cash provided by operating activities | |||
| Depreciation and amortization | 1,026 | 994 | 990 |
| Stock-based compensation | 138 | 164 | 189 |
| Deferred income taxes | (445) | (401) | (5) |
| Goodwill impairment charges | 119 [1] | 195 | |
| Severance charges | 102 [2] | 201 | |
| Changes in assets and liabilities | |||
| Receivables, net | (256) | 28 | 767 |
| Inventories, net | (398) | 77 | (60) |
| Accounts payable | (160) | 95 | (647) |
| Customer advances and amounts in excess of costs incurred | (32) | (572) | (158) |
| Postretirement benefit plans | 1,068 | (880) | (375) |
| Income taxes | (48) | 351 | 364 |
| Other, net | 501 | 277 | 104 |
| Net cash provided by operating activities | 5,101 | 3,866 | 4,546 |
| Investing activities | |||
| Capital expenditures | (939) | (845) | (836) |
| Acquisitions of businesses and investments in affiliates | (9,003) | (898) | (269) |
| Other, net | 208 | 20 | (16) |
| Net cash used for investing activities | (9,734) | (1,723) | (1,121) |
| Financing activities | |||
| Repurchases of common stock | (3,071) | (1,900) | (1,762) |
| Proceeds from stock option exercises | 174 | 308 | 827 |
| Dividends paid | (1,932) | (1,760) | (1,540) |
| Proceeds from the issuance of long-term debt | 9,101 | ||
| Repayments of long-term debt | (150) | ||
| Proceeds from borrowings under revolving credit facilities | 6,000 | ||
| Repayments of borrowings under revolving credit facilities | (6,000) | ||
| Other, net | 5 | 38 | (81) |
| Net cash provided by (used for) financing activities | 4,277 | (3,314) | (2,706) |
| Net change in cash and cash equivalents | (356) | (1,171) | 719 |
| Cash and cash equivalents at beginning of year | 1,446 | 2,617 | |
| Cash and cash equivalents at end of year | 1,090 | 1,446 | 2,617 |
| [1] We recognized non-cash goodwill impairment charges related to the Technical Services reporting unit within our MFC business segment in 2014 and 2013. See Note 1 for more information. | |||
| [2] See Note 15 for information on charges related to certain severance actions at our business segments. Severance charges for initiatives that are not significant are included in business segment operating profit. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
LOCKHEED MARTIN CORP | ||
Ticker: LMT Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 24, 2016) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $ 1,090 | 1,446 |
| Receivables, net | 8,061 | 5,877 |
| Inventories, net | 4,962 | 2,804 |
| Deferred income taxes | 1,463 | 1,451 |
| Other current assets | 622 | 744 |
| Total current assets | 16,198 | 12,322 |
| Property, plant and equipment, net | 5,490 | 4,751 |
| Goodwill | 13,576 | 10,862 |
| Intangible assets | 4,147 | 324 |
| Deferred income taxes | 4,470 | 4,013 |
| Other noncurrent assets | 5,247 | 4,774 |
| Total assets | 49,128 | 37,046 |
| Liabilities and stockholders' equity | ||
| Current liabilities | ||
| Accounts payable | 1,974 | 1,562 |
| Customer advances and amounts in excess of costs incurred | 6,988 | 5,775 |
| Salaries, benefits and payroll taxes | 1,916 | 1,824 |
| Current maturities of long-term debt | 956 | |
| Other current liabilities | 2,223 | 1,951 |
| Total current liabilities | 14,057 | 11,112 |
| Accrued pension liabilities | 11,807 | 11,413 |
| Other postretirement benefit liabilities | 1,070 | 1,102 |
| Long-term debt, net | 14,305 | 6,142 |
| Other noncurrent liabilities | 4,792 | 3,877 |
| Total liabilities | 46,031 | 33,646 |
| Stockholders' equity | ||
| Common stock, $1 par value per share | 303 | 314 |
| Additional paid-in capital | 0 | 0 |
| Retained earnings | 14,238 | 14,956 |
| Accumulated other comprehensive loss | (11,444) | (11,870) |
| Total stockholders' equity | 3,097 | 3,400 |
| Total liabilities and stockholders' equity | 49,128 | 37,046 |
| External Links | |
| LOCKHEED MARTIN CORP (LMT) Fiscal Year 2015 | |
| 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 |