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 Earnings | |||
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 | |
| Net sales | |||
| Products | $ 35,691 | 37,817 | 36,925 |
| Services | 9,667 | 9,365 | 9,574 |
| Total net sales | 45,358 | 47,182 | 46,499 |
| Cost of sales | |||
| Products | (31,346) | (33,495) | (32,968) |
| Services | (8,588) | (8,383) | (8,514) |
| Goodwill impairment charge | (195) [1] | ||
| Severance charges | (201) [2] | (48) | (136) |
| Other unallocated costs | (841) | (1,060) | (1,137) |
| Total cost of sales | (41,171) | (42,986) | (42,755) |
| Gross profit | 4,187 | 4,196 | 3,744 |
| Other income, net | 318 | 238 | 276 |
| Operating profit | 4,505 | 4,434 | 4,020 |
| Interest expense | (350) | (383) | (354) |
| Other non-operating income (expense), net | 21 | (35) | |
| Earnings from continuing operations before income taxes | 4,155 | 4,072 | 3,631 |
| Income tax expense | (1,205) | (1,327) | (964) |
| Net earnings from continuing operations | 2,950 | 2,745 | 2,667 |
| Net earnings (loss) from discontinued operations | 31 | (12) | |
| Net earnings | 2,981 | 2,745 | 2,655 |
| Earnings (loss) per common share | |||
| Basic | |||
| Continuing operations, in USD per common share | 9.19 | 8.48 | 7.94 |
| Discontinued operations, in USD per common share | 0.10 | (0.04) | |
| Basic earnings per common share in USD | 9.29 | 8.48 | 7.90 |
| Diluted | |||
| Continuing operations, in USD per common share | 9.04 | 8.36 | 7.85 |
| Discontinued operations, in USD per common share | 0.09 | (0.04) | |
| Diluted earnings per common share in USD | 9.13 | 8.36 | 7.81 |
| [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 |