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: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 14, 2014) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Operating activities | |||
| Net earnings | $ 2,981 | 2,745 | 2,655 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Depreciation and amortization | 990 | 988 | 1,008 |
| Stock-based compensation | 189 | 167 | 157 |
| Deferred income taxes | (5) | 930 | (2) |
| Goodwill impairment charge | 195 [1] | ||
| Severance charges | 201 [2] | 48 | 136 |
| Reduction in tax expense from resolution of certain tax matters | (89) | ||
| Changes in operating assets and liabilities: | |||
| Receivables, net | 767 | (460) | (363) |
| Inventories, net | (60) | (422) | (74) |
| Accounts payable | (647) | (236) | 609 |
| Customer advances and amounts in excess of costs incurred | (158) | 57 | 502 |
| Postretirement benefit plans | (375) | (1,883) | (393) |
| Income taxes | 364 | (535) | 304 |
| Other, net | 104 | 162 | (197) |
| Net cash provided by operating activities | 4,546 | 1,561 | 4,253 |
| Investing activities | |||
| Capital expenditures | (836) | (942) | (987) |
| Acquisitions of businesses and investments in affiliates | (269) | (259) | (624) |
| Maturities of short-term investments | 510 | ||
| Other, net | (16) | 24 | 313 |
| Net cash used for investing activities | (1,121) | (1,177) | (788) |
| Financing activities | |||
| Repurchases of common stock | (1,762) | (990) | (2,465) |
| Proceeds from stock option exercises | 827 | 440 | 116 |
| Dividends paid | (1,540) | (1,352) | (1,095) |
| Repayments of long-term debt | (150) | (632) | |
| Premium paid on debt exchange | (225) | ||
| Issuance of long-term debt, net of related costs | 1,980 | ||
| Other, net | (81) | 59 | (48) |
| Net cash used for financing activities | (2,706) | (2,068) | (2,144) |
| Net change in cash and cash equivalents | 719 | (1,684) | 1,321 |
| Cash and cash equivalents at beginning of year | 1,898 | 3,582 | |
| Cash and cash equivalents at end of year | 2,617 | 1,898 | 3,582 |
| [1] We recognized a non-cash goodwill impairment charge related to the Technical Services reporting unit within our MFC business segment. See Note 1 for more information. | |||
| [2] See Note 2 for information on charges related to certain severance actions at our business segments and Corporate Headquarters. Severance charges for initiatives that are not significant are included in business segment operating profit. | |||
| External Links | |
| LOCKHEED MARTIN CORP (LMT) Fiscal Year 2013 | |
| 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 |