$LMT
LOCKHEED MARTIN CORP

2013 Q4 Form 10-K Financial Statement

#000119312515038681 Filed on February 09, 2015

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2013 Q2
Revenue $11.53B $11.35B $11.41B
YoY Change -4.68% -4.4% -4.3%
Cost Of Revenue $10.43B $10.16B $10.18B
YoY Change -5.87% -6.12% -5.26%
Gross Profit $1.104B $1.184B $1.224B
YoY Change 8.24% 13.52% 4.44%
Gross Profit Margin 9.57% 10.43% 10.73%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $286.0M $232.0M $240.0M
YoY Change -71.05% -150.0% 3.0%
% of Gross Profit 25.91% 19.59% 19.61%
Operating Expenses -$96.00M -$70.00M -$74.00M
YoY Change 45.45% -40.17% 270.0%
Operating Profit $834.0M $1.254B $1.298B
YoY Change -21.39% 8.1% 8.89%
Interest Expense -$86.00M $84.00M $88.00M
YoY Change -8.51% -186.6% -8.33%
% of Operating Profit -10.31% 6.7% 6.78%
Other Income/Expense, Net -$2.000M $3.000M $1.000M
YoY Change -77.78% -50.0% -95.24%
Pretax Income $746.0M $1.173B $1.211B
YoY Change -22.13% 12.14% 8.42%
Income Tax $258.0M $331.0M $352.0M
% Of Pretax Income 34.58% 28.22% 29.07%
Net Earnings $488.0M $873.0M $859.0M
YoY Change -14.24% 20.08% 9.99%
Net Earnings / Revenue 4.23% 7.69% 7.53%
Basic Earnings Per Share $1.53 $2.72 $2.68
Diluted Earnings Per Share $1.50 $2.66 $2.64
COMMON SHARES
Basic Shares Outstanding 321.3M shares 320.8M shares
Diluted Shares Outstanding 327.5M shares 325.9M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.617B $2.661B $2.845B
YoY Change 37.88% -42.8% -25.17%
Cash & Equivalents $2.617B $2.661B $2.845B
Short-Term Investments
Other Short-Term Assets $813.0M $452.0M $580.0M
YoY Change -31.57% -18.12% -0.17%
Inventory $2.977B $2.920B $2.895B
Prepaid Expenses
Receivables $5.834B $6.919B $6.826B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.33B $14.12B $14.38B
YoY Change -3.8% -10.59% -2.84%
LONG-TERM ASSETS
Property, Plant & Equipment $4.706B $4.598B $4.594B
YoY Change 0.66% 2.5% 2.2%
Goodwill $10.35B $10.53B $10.35B
YoY Change -0.21% 3.45% 1.91%
Intangibles
YoY Change
Long-Term Investments $914.0M
YoY Change 22.03%
Other Assets $4.955B $4.999B $4.941B
YoY Change 0.14% 4.41% 4.09%
Total Long-Term Assets $22.86B $24.79B $24.57B
YoY Change -7.83% 5.35% 4.16%
TOTAL ASSETS
Total Short-Term Assets $13.33B $14.12B $14.38B
Total Long-Term Assets $22.86B $24.79B $24.57B
Total Assets $36.19B $38.91B $38.95B
YoY Change -6.39% -1.05% 1.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.397B $1.928B $2.044B
YoY Change -31.45% -11.72% -13.35%
Accrued Expenses $1.809B $1.737B $1.688B
YoY Change 9.7% 0.7% 1.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Short-Term Liabilities $11.12B $12.29B $12.25B
YoY Change -8.52% -2.96% -0.12%
LONG-TERM LIABILITIES
Long-Term Debt $6.152B $6.156B $6.140B
YoY Change -0.1% -3.42% -3.2%
Other Long-Term Liabilities $3.735B $3.827B $3.875B
YoY Change -1.89% 5.57% 9.8%
Total Long-Term Liabilities $9.887B $9.983B $10.02B
YoY Change -0.78% -0.16% 1.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.12B $12.29B $12.25B
Total Long-Term Liabilities $9.887B $9.983B $10.02B
Total Liabilities $31.27B $37.63B $38.25B
YoY Change -19.03% 2.04% 5.72%
SHAREHOLDERS EQUITY
Retained Earnings $14.20B $13.69B $13.42B
YoY Change 7.49% 7.8% 5.41%
Common Stock $319.0M $318.0M $319.0M
YoY Change -0.62% -0.93% -6.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.918B $1.277B $694.0M
YoY Change
Total Liabilities & Shareholders Equity $36.19B $38.91B $38.95B
YoY Change -6.39% -1.05% 1.46%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2013 Q2
OPERATING ACTIVITIES
Net Income $488.0M $873.0M $859.0M
YoY Change -14.24% 20.08% 9.99%
Depreciation, Depletion And Amortization $286.0M $232.0M $240.0M
YoY Change -71.05% -150.0% 3.0%
Cash From Operating Activities $938.0M $900.0M $623.0M
YoY Change -39.91% -169.07% -26.27%
INVESTING ACTIVITIES
Capital Expenditures -$345.0M -$209.0M -$176.0M
YoY Change -63.38% -168.3% 0.57%
Acquisitions
YoY Change
Other Investing Activities $8.000M -$236.0M -$7.000M
YoY Change -103.4% 2850.0% -126.92%
Cash From Investing Activities -$337.0M -$445.0M -$183.0M
YoY Change -71.37% -249.33% 22.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $150.0M
YoY Change
Cash From Financing Activities -645.0M -639.0M -660.0M
YoY Change -68.81% -181.4% 60.19%
NET CHANGE
Cash From Operating Activities 938.0M 900.0M 623.0M
Cash From Investing Activities -337.0M -445.0M -183.0M
Cash From Financing Activities -645.0M -639.0M -660.0M
Net Change In Cash -44.00M -184.0M -220.0M
YoY Change -97.39% -16.36% -177.46%
FREE CASH FLOW
Cash From Operating Activities $938.0M $900.0M $623.0M
Capital Expenditures -$345.0M -$209.0M -$176.0M
Free Cash Flow $1.283B $1.109B $799.0M
YoY Change -48.74% -168.92% -21.67%

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CY2014 dei Document Type
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CY2014 dei Entity Registrant Name
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LOCKHEED MARTIN CORP
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 3%" align="justify"><b>Use of estimates</b> &#x2013; We prepare our consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP). In doing so, we are required to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. We base these estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Our actual results may differ materially from these estimates. Significant estimates inherent in the preparation of our consolidated financial statements include, but are not limited to, accounting for sales and cost recognition, postretirement benefit plans, environmental receivables and liabilities, evaluation of goodwill and other assets for impairment, income taxes including deferred tax assets, fair value measurements and contingencies.</p> </div>
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