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10-K.Info (Beta Test)
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LOCKHEED MARTIN CORP

Ticker: LMT   Fiscal Year: 2018

Consolidated Statements of Earnings

Period Ending Dec 31, 2018 10-K (Filed: Feb 8, 2019)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2018Dec 31, 2017Dec 31, 2016
Net sales
Total net sales
$
53,762
49,96047,290
Cost of sales
Total cost of sales(46,488)(43,589)(41,889)
Severance and restructuring charges(96)0(80)
Gross profit7,2746,3715,401
 
Other income, net60373487
Operating profit7,3346,7445,888
 
Interest expense(668)(651)(663)
Other non-operating expense, net(828)(847)(471)
Earnings from continuing operations before income taxes5,8385,2464,754
 
Income tax expense(792)(3,356)(1,093)
Net earnings from continuing operations5,0461,8903,661
 
Net earnings from discontinued operations0731,512
Net earnings5,0461,9635,173
 
Earnings per common share
Basic
Continuing operations (in dollars per share)17.746.5612.23
Discontinued operations (in dollars per share)0.000.265.05
Basic earnings per common share (in dollars per share)17.746.8217.28
 
Diluted
Continuing operations (in dollars per share)17.596.5012.08
Discontinued operations (in dollars per share)0.000.254.99
Diluted earnings per common share (in dollars per share)17.596.7517.07
 
Product and Service
Products
Total net sales45,00542,50240,081
Total cost of sales(40,293)(38,417)(36,394)
Services
Total net sales8,7577,4587,209
Total cost of sales(7,738)(6,673)(6,423)
Other unallocated, net
Total cost of sales1,6391,5011,008
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LOCKHEED MARTIN CORP

Ticker: LMT   Fiscal Year: 2018

Consolidated Statements of Comprehensive Income

Period Ending Dec 31, 2018 10-K (Filed: Feb 8, 2019)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2018Dec 31, 2017Dec 31, 2016
Net earnings
$
5,046
1,9635,173
Other comprehensive income (loss), net of tax
Postretirement benefit plans
Net other comprehensive loss recognized during the period, net of tax benefit of $136 million in 2018, $375 million in 2017 and $668 million in 2016(501)(1,380)(1,232)
Amounts reclassified from accumulated other comprehensive loss, net of tax expense of $327 million in 2018, $437 million in 2017 and $382 million in 20161,202802699
Reclassifications from divestiture of IS&GS business00(134)
Other, net(75)1419
Other comprehensive income (loss), net of tax626(437)(658)
 
Comprehensive income5,6721,5264,515
 
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LOCKHEED MARTIN CORP

Ticker: LMT   Fiscal Year: 2018

Consolidated Statements of Cash Flows

Period Ending Dec 31, 2018 10-K (Filed: Feb 8, 2019)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2018Dec 31, 2017Dec 31, 2016
Operating activities
Net earnings
$
5,046
1,9635,173
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization1,1611,1951,215
Stock-based compensation173158149
Deferred income taxes(244)3,448(193)
Severance and restructuring charges96099
Gain on property sale0(198)0
Gain on divestiture of IS&GS business0(73)(1,201)
Gain on step acquisition of AWE00(104)
Changes in assets and liabilities
Receivables, net(179)(902)598
Contract assets(1,480)390(1,246)
Inventories(119)(79)173
Accounts payable914(189)(188)
Contract liabilities(537)353(163)
Postretirement benefit plans(3,574)1,3161,028
Income taxes1,077(1,210)146
Other, net804304(297)
Net cash provided by operating activities3,1386,4765,189
 
Investing activities
Capital expenditures(1,278)(1,177)(1,063)
Other, net2033078
Net cash used for investing activities(1,075)(1,147)(985)
 
Financing activities
Repurchases of common stock(1,492)(2,001)(2,096)
Dividends paid(2,347)(2,163)(2,048)
Proceeds from issuance of commercial paper, net60000
Special cash payment from divestiture of IS&GS business001,800
Repayments of long-term debt(750)0(952)
Other, net(163)(141)(161)
Net cash used for financing activities(4,152)(4,305)(3,457)
 
Net change in cash and cash equivalents(2,089)1,024747
 
Cash and cash equivalents at beginning of year2,8611,837
Cash and cash equivalents at end of year7722,8611,837
 
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LOCKHEED MARTIN CORP

Ticker: LMT   Fiscal Year: 2018

Consolidated Balance Sheets

Period Ending Dec 31, 2018 10-K (Filed: Feb 8, 2019)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2018Dec 31, 2017
Assets
Current assets
Cash and cash equivalents
$
772
2,861
Receivables, net2,4442,265
Contract assets9,4727,992
Inventories2,9972,878
Other current assets4181,509
Total current assets16,10317,505
 
Property, plant and equipment, net6,1245,775
Goodwill10,76910,807
Intangible assets, net3,4943,797
Deferred income taxes3,2083,156
Other noncurrent assets5,1785,580
Total assets44,87646,620
 
Liabilities and equity
Current liabilities
Accounts payable2,4021,467
Contract liabilities6,4917,028
Salaries, benefits and payroll taxes2,1221,785
Current maturities of long-term debt and commercial paper1,500750
Other current liabilities1,8831,883
Total current liabilities14,39812,913
 
Long-term debt, net12,60413,513
Accrued pension liabilities11,41015,703
Other postretirement benefit liabilities704719
Other noncurrent liabilities4,3114,548
Total liabilities43,42747,396
 
Stockholders equity
Common stock, $1 par value per share281284
Additional paid-in capital00
Retained earnings15,43411,405
Accumulated other comprehensive loss(14,321)(12,539)
Total stockholders equity (deficit)1,394(850)
 
Noncontrolling interests in subsidiary5574
Total equity (deficit)1,449(776)
 
Total liabilities and equity44,87646,620
 
External Links 
LOCKHEED MARTIN CORP (LMT) Fiscal Year 2018
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