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: 2014 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 9, 2015) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net sales | |||
| Products | $ 36,093 | 35,691 | 37,817 |
| Services | 9,507 | 9,667 | 9,365 |
| Total net sales | 45,600 | 45,358 | 47,182 |
| Cost of sales | |||
| Products | (31,965) | (31,346) | (33,495) |
| Services | (8,393) | (8,588) | (8,383) |
| Goodwill impairment charges | (119) [1] | (195) | |
| Severance charges | (201) [2] | (48) | |
| Other unallocated, net | 132 | (841) | (1,060) |
| Total cost of sales | (40,345) | (41,171) | (42,986) |
| Gross profit | 5,255 | 4,187 | 4,196 |
| Other income, net | 337 | 318 | 238 |
| Operating profit | 5,592 | 4,505 | 4,434 |
| Interest expense | (340) | (350) | (383) |
| Other non-operating income, net | 6 | 21 | |
| Earnings from continuing operations before income taxes | 5,258 | 4,155 | 4,072 |
| Income tax expense | (1,644) | (1,205) | (1,327) |
| Net earnings from continuing operations | 3,614 | 2,950 | 2,745 |
| Net earnings from discontinued operations | 31 | ||
| Net earnings | 3,614 | 2,981 | 2,745 |
| Earnings per common share | |||
| Basic | |||
| Continuing operations per common share in USD | 11.41 | 9.19 | 8.48 |
| Discontinued operations per common share in USD | 0.10 | ||
| Basic earnings per common share in USD | 11.41 | 9.29 | 8.48 |
| Diluted | |||
| Continuing operations per common share in USD | 11.21 | 9.04 | 8.36 |
| Discontinued operations per common share in USD | 0.09 | ||
| Diluted earnings per common share in USD | 11.21 | 9.13 | 8.36 |
| [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 14 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. | |||
| External Links | |
| LOCKHEED MARTIN CORP (LMT) Fiscal Year 2014 | |
| 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 |