$LMT
LOCKHEED MARTIN CORP

2021 Q4 Form 10-Q Financial Statement

#000093646821000101 Filed on October 26, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $17.73B $16.03B $17.03B
YoY Change 4.09% -2.83% 4.99%
Cost Of Revenue $15.31B $13.73B $14.88B
YoY Change 3.49% -4.41% 6.22%
Gross Profit $2.422B $2.302B $2.151B
YoY Change 8.08% 7.77% -2.8%
Gross Profit Margin 13.66% 14.36% 12.63%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $365.0M $329.0M $334.0M
YoY Change 0.55% 3.13% 8.79%
% of Gross Profit 15.07% 14.29% 15.53%
Operating Expenses -$33.00M $8.000M -$41.00M
YoY Change -56.0% -172.73% 4000.0%
Operating Profit $2.455B $2.294B $2.192B
YoY Change 7.25% 6.85% 5.08%
Interest Expense -$61.00M $141.0M $142.0M
YoY Change -59.06% -2.76% -4.7%
% of Operating Profit -2.48% 6.15% 6.48%
Other Income/Expense, Net $96.00M $98.00M $26.00M
YoY Change 104.26% 4.0%
Pretax Income $2.490B $679.0M $2.170B
YoY Change 13.85% -66.97% 10.6%
Income Tax $441.0M $65.00M $355.0M
% Of Pretax Income 17.71% 9.57% 16.36%
Net Earnings $2.049B $614.0M $1.815B
YoY Change 14.34% -63.84% 11.62%
Net Earnings / Revenue 11.56% 3.83% 10.66%
Basic Earnings Per Share $2.22 $6.54
Diluted Earnings Per Share $7.475M $2.21 $6.52
COMMON SHARES
Basic Shares Outstanding 275.8M shares 276.2M shares 277.4M shares
Diluted Shares Outstanding 277.3M shares 278.4M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.604B $2.727B $2.745B
YoY Change 14.05% -23.93% -3.85%
Cash & Equivalents $3.604B $2.727B $2.745B
Short-Term Investments
Other Short-Term Assets $688.0M $763.0M $774.0M
YoY Change -40.17% 40.26% 43.87%
Inventory $2.981B $2.903B $3.119B
Prepaid Expenses
Receivables $12.54B $14.96B $14.04B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $19.82B $21.36B $20.67B
YoY Change 2.26% 5.26% 5.64%
LONG-TERM ASSETS
Property, Plant & Equipment $7.597B $7.332B $7.290B
YoY Change 5.32% 7.78% 9.41%
Goodwill $10.81B $10.82B $10.81B
YoY Change 0.06% 2.13% 2.18%
Intangibles $2.706B $2.768B $2.849B
YoY Change -10.16% -8.13% -7.41%
Long-Term Investments $689.0M
YoY Change -12.12%
Other Assets $7.652B $6.907B $7.099B
YoY Change 12.1% 0.39% 7.77%
Total Long-Term Assets $31.06B $30.49B $31.43B
YoY Change -0.87% 0.01% 4.63%
TOTAL ASSETS
Total Short-Term Assets $19.82B $21.36B $20.67B
Total Long-Term Assets $31.06B $30.49B $31.43B
Total Assets $50.87B $51.84B $52.10B
YoY Change 0.32% 2.11% 5.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $780.0M $1.520B $1.608B
YoY Change -11.36% 1.95% 10.67%
Accrued Expenses $3.108B $3.122B $3.029B
YoY Change -9.07% 10.79% 21.74%
Deferred Revenue $8.107B $7.515B $7.379B
YoY Change 7.45% 2.19% -1.36%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $6.000M $506.0M
YoY Change -98.8% -99.4% 1.2%
Total Short-Term Liabilities $14.00B $15.03B $15.24B
YoY Change 0.46% -1.15% 2.38%
LONG-TERM LIABILITIES
Long-Term Debt $11.67B $11.67B $11.67B
YoY Change 0.01% -0.06% -4.18%
Other Long-Term Liabilities $5.928B $6.167B $6.250B
YoY Change -4.33% 0.34% 7.13%
Total Long-Term Liabilities $17.60B $17.84B $17.92B
YoY Change -1.49% 0.08% -0.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.00B $15.03B $15.24B
Total Long-Term Liabilities $17.60B $17.84B $17.92B
Total Liabilities $39.91B $42.21B $45.57B
YoY Change -10.65% -7.81% -0.54%
SHAREHOLDERS EQUITY
Retained Earnings $21.60B $21.48B $21.96B
YoY Change -0.17% 8.22% 16.34%
Common Stock $365.0M $372.0M $398.0M
YoY Change -27.0% 1.09% 43.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.96B $9.631B $6.522B
YoY Change
Total Liabilities & Shareholders Equity $50.87B $51.84B $52.10B
YoY Change 0.32% 2.11% 5.03%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $2.049B $614.0M $1.815B
YoY Change 14.34% -63.84% 11.62%
Depreciation, Depletion And Amortization $365.0M $329.0M $334.0M
YoY Change 0.55% 3.13% 8.79%
Cash From Operating Activities $4.268B $1.937B $1.268B
YoY Change 136.19% 3.03% -41.89%
INVESTING ACTIVITIES
Capital Expenditures -$607.0M -$316.0M -$318.0M
YoY Change -15.93% -22.55% -7.29%
Acquisitions
YoY Change
Other Investing Activities $65.00M $86.00M $98.00M
YoY Change -123.99% 273.91% 1533.33%
Cash From Investing Activities -$542.0M -$230.0M -$220.0M
YoY Change -45.42% -40.26% -34.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.849B -1.725B -1.236B
YoY Change 129.94% 125.49% 26.38%
NET CHANGE
Cash From Operating Activities 4.268B 1.937B 1.268B
Cash From Investing Activities -542.0M -230.0M -220.0M
Cash From Financing Activities -2.849B -1.725B -1.236B
Net Change In Cash 877.0M -18.00M -188.0M
YoY Change -306.35% -102.47% -121.68%
FREE CASH FLOW
Cash From Operating Activities $4.268B $1.937B $1.268B
Capital Expenditures -$607.0M -$316.0M -$318.0M
Free Cash Flow $4.875B $2.253B $1.586B
YoY Change 92.76% -1.53% -37.19%

Facts In Submission

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lmt Severance And Restructuring Costs
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CY2020Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2020Q3 us-gaap Revenues
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CY2020Q3 us-gaap Revenues
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CY2020Q3 us-gaap Revenues
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us-gaap Revenues
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us-gaap Revenues
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us-gaap Capitalized Contract Cost Impairment Loss
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Net Of Tax
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CY2021Q3 lmt Non Cash Non Operating Pension Settlement Charge
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CY2021Q3 lmt Non Cash Non Operating Pension Settlement Charge After Tax
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CY2021Q3 lmt Non Cash Non Operating Pension Settlement Charge Per Share After Tax
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us-gaap Loss Contingency Damages Sought Value
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CY2021Q3 us-gaap Accrual For Environmental Loss Contingencies
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CY2020Q4 us-gaap Accrual For Environmental Loss Contingencies
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CY2020Q4 us-gaap Recorded Third Party Environmental Recoveries Receivable
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lmt Time Period Environmental Costs And Recovery Of Environmental Costs Are Projected Over
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P20Y
CY2021Q3 lmt Letters Of Credit Surety Bonds And Third Party Guarantees
LettersOfCreditSuretyBondsAndThirdPartyGuarantees
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CY2021Q3 us-gaap Guarantee Obligations Maximum Exposure
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CY2020Q4 us-gaap Guarantee Obligations Maximum Exposure
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871000000 USD
lmt Percentage Of Guarantees That Relate To Guarantees Of Contractual Performance Of Joint Ventures
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CY2020 lmt Percentage Of Guarantees That Relate To Guarantees Of Contractual Performance Of Joint Ventures
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CY2021Q3 us-gaap Debt Instrument Carrying Amount
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CY2020Q4 us-gaap Debt Instrument Carrying Amount
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1100000000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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1100000000 USD
CY2021Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
6000000000 USD
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1
CY2021Q3 us-gaap Dividends Cash
DividendsCash
775000000 USD
CY2021Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.80
us-gaap Dividends Cash
DividendsCash
3000000000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
10.60
CY2021Q3 lmt Common Stock Dividends Per Share Declared Period Increase
CommonStockDividendsPerShareDeclaredPeriodIncrease
0.20
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.60
CY2020Q3 us-gaap Dividends Cash
DividendsCash
730000000 USD
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.60
us-gaap Dividends Cash
DividendsCash
2800000000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
9.80
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
2203000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-1701000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3904000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-40000000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-335000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
295000000 USD
CY2021Q3 lmt Defined Benefit Plan Pension Plan Benefit Obligation Plan Assets Outstanding
DefinedBenefitPlanPensionPlanBenefitObligationPlanAssetsOutstanding
4900000000 USD
CY2021Q3 lmt Accumulated Other Comprehensive Loss Defined Benefit Plan Non Cash Non Operating Pension Settlement Charge
AccumulatedOtherComprehensiveLossDefinedBenefitPlanNonCashNonOperatingPensionSettlementCharge
1700000000 USD
CY2021Q3 lmt Accumulated Other Comprehensive Loss Defined Benefit Plan Non Cash Non Operating Pension Settlement Charge After Tax
AccumulatedOtherComprehensiveLossDefinedBenefitPlanNonCashNonOperatingPensionSettlementChargeAfterTax
1300000000 USD
CY2021Q3 lmt Accumulated Other Comprehensive Loss Defined Benefit Plan Non Cash Non Operating Pension Settlement Charge Per Share After Tax
AccumulatedOtherComprehensiveLossDefinedBenefitPlanNonCashNonOperatingPensionSettlementChargePerShareAfterTax
4.72
CY2021Q3 lmt Defined Benefit Plan Pension Plan Benefit Obligation Plan Assets Outstanding
DefinedBenefitPlanPensionPlanBenefitObligationPlanAssetsOutstanding
4900000000 USD
CY2021Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-107000000 USD
CY2020Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-110000000 USD
CY2021Q3 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
616000000 USD
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1600000000 USD
CY2020Q3 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
487000000 USD
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1500000000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
134800000000 USD
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.38
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2020Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-55000000 USD
CY2020Q3 lmt Income Loss From Discontinued Operations Net Of Tax Attributable To Parent Per Share
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToParentPerShare
-0.20
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.60
CY2021Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P24M
CY2021Q3 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
355000000 USD
CY2020Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
173000000 USD
CY2021Q3 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
98000000 USD
CY2021Q3 lmt Equity Securities Fvni Realized Gain Loss Net Of Tax
EquitySecuritiesFVNIRealizedGainLossNetOfTax
74000000 USD
CY2021Q3 lmt Equity Securities Fvni Realized Gain Loss Net Of Tax Amount Per Share
EquitySecuritiesFVNIRealizedGainLossNetOfTaxAmountPerShare
0.27
us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
180000000 USD
lmt Equity Securities Fvni Realized Gain Loss Net Of Tax
EquitySecuritiesFVNIRealizedGainLossNetOfTax
135000000 USD
lmt Equity Securities Fvni Realized Gain Loss Net Of Tax Amount Per Share
EquitySecuritiesFVNIRealizedGainLossNetOfTaxAmountPerShare
0.49
CY2021Q1 lmt Severance And Restructuring Costs
SeveranceAndRestructuringCosts
36000000 USD
CY2021Q1 lmt Severance And Restructuring Costs After Tax
SeveranceAndRestructuringCostsAfterTax
28000000 USD
CY2021Q1 lmt Severance And Restructuring Costs Per Share After Tax
SeveranceAndRestructuringCostsPerShareAfterTax
0.10
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.096
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.157
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.147
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.157
CY2021Q3 us-gaap Pension Expense Reversal Of Expense Noncash
PensionExpenseReversalOfExpenseNoncash
1700000000 USD
CY2021Q3 lmt Pension Expense Reversal Of Expense Noncash Tax Impact Reduction
PensionExpenseReversalOfExpenseNoncashTaxImpactReduction
355000000 USD

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