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: 2016 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 9, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net sales | |||
| Products | $ 40,365 | 34,868 | 34,984 |
| Services | 6,883 | 5,668 | 4,962 |
| Total net sales | 47,248 | 40,536 | 39,946 |
| Cost of sales | |||
| Products | (36,616) | (31,091) | (30,983) |
| Services | (6,040) | (4,824) | (4,184) |
| Severance charges | (80) [1] | (82) | |
| Other unallocated, net | 550 | (47) | (96) |
| Total cost of sales | (42,186) | (36,044) | (35,263) |
| Gross profit | 5,062 | 4,492 | 4,683 |
| Other income, net | 487 | 220 | 329 |
| Operating profit | 5,549 | 4,712 | 5,012 |
| Interest expense | (663) | (443) | (340) |
| Other non-operating income, net | 30 | 5 | |
| Earnings from continuing operations before income taxes | 4,886 | 4,299 | 4,677 |
| Income tax expense | (1,133) | (1,173) | (1,424) |
| Net earnings from continuing operations | 3,753 | 3,126 | 3,253 |
| Net earnings from discontinued operations | 1,549 | 479 | 361 |
| Net earnings | 5,302 | 3,605 | 3,614 |
| Earnings per common share | |||
| Basic | |||
| Continuing operations | 12.54 | 10.07 | 10.27 |
| Discontinued operations | 5.17 | 1.55 | 1.14 |
| Basic earnings per common share | 17.71 | 11.62 | 11.41 |
| Diluted | |||
| Continuing operations | 12.38 | 9.93 | 10.09 |
| Discontinued operations | 5.11 | 1.53 | 1.12 |
| Diluted earnings per common share | 17.49 | 11.46 | 11.21 |
| [1] FAS pension expense, CAS pension costs and severance charges reflect the reclassification for discontinued operations presentation of benefits related to former IS&GS salaried employees (see "Note 11 - Postretirement Plans"). | See "Note 15 - Restructuring Charges" 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 2016 | |
| 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 |