10-Q Filing

LOCKHEED MARTIN CORP CIK: 936468 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000936468-18-000023`
Period End Date	20180331
Filing Date	20180425
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	lmt-20180325.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 36 Cash Flow Statement 50 Stockholders Equity 21 Comprehensive Income 12

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.84B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.86B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.39B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.22B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.27B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.37B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$7.99B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$9.40B	USD	Point-in-time
Inventories	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$3.20B	USD	Point-in-time
Inventories	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$2.88B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.51B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$449.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.82B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.50B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.75B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.78B	USD	Point-in-time
Goodwill	`Goodwill`	$10.81B	USD	Point-in-time
Goodwill	`Goodwill`	$10.81B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.73B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.80B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.16B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.08B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$5.45B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$5.58B	USD	Point-in-time
Total assets	`Assets`	$46.63B	USD	Point-in-time
Total assets	`Assets`	$46.62B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.47B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.71B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$6.55B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$7.03B	USD	Point-in-time
Salaries, benefits and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.78B	USD	Point-in-time
Salaries, benefits and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.77B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$750.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$750.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.88B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.19B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.97B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.91B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$13.51B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$13.47B	USD	Point-in-time
Accrued pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$15.70B	USD	Point-in-time
Accrued pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$14.20B	USD	Point-in-time
Other postretirement benefit liabilities	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$713.00M	USD	Point-in-time
Other postretirement benefit liabilities	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$719.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$4.39B	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$4.55B	USD	Point-in-time
Total liabilities	`Liabilities`	$46.74B	USD	Point-in-time
Total liabilities	`Liabilities`	$47.40B	USD	Point-in-time
Common stock, $1 par value per share	`CommonStockValue`	$284.00M	USD	Point-in-time
Common stock, $1 par value per share	`CommonStockValue`	$284.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.12B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.40B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-12.54B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.59B	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-850.00M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-182.00M	USD	Point-in-time
Noncontrolling interests in subsidiary	`MinorityInterest`	$74.00M	USD	Point-in-time
Noncontrolling interests in subsidiary	`MinorityInterest`	$71.00M	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-776.00M	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-111.00M	USD	Point-in-time
Total deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$46.63B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$46.62B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$9.61B	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$9.76B	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$1.87B	USD	1 Quarter
Services	`SalesRevenueServicesNet`	$1.60B	USD	1 Quarter
Total net sales	`SalesRevenueNet`	$11.63B	USD	1 Quarter
Total net sales	`SalesRevenueNet`	$11.21B	USD	1 Quarter
Products	`CostOfGoodsSold`	$8.70B	USD	1 Quarter
Products	`CostOfGoodsSold`	$8.74B	USD	1 Quarter
Services	`CostOfServices`	$1.43B	USD	1 Quarter
Services	`CostOfServices`	$1.69B	USD	1 Quarter
Other unallocated, net	`OtherUnallocatedNet`	$-372.00M	USD	1 Quarter
Other unallocated, net	`OtherUnallocatedNet`	$-409.00M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$9.81B	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$9.98B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.66B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.41B	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$-4.00M	USD	1 Quarter
Other income (expense), net	`OtherOperatingIncomeExpenseNet`	$67.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.40B	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.73B	USD	1 Quarter
Interest expense	`InterestExpense`	$155.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$155.00M	USD	1 Quarter
Other non-operating expense, net	`OtherNonoperatingIncomeExpense`	$-210.00M	USD	1 Quarter
Other non-operating expense, net	`OtherNonoperatingIncomeExpense`	$-212.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.03B	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.36B	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$203.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$246.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.16B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$789.00M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.72	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$4.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$4.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.69	USD	1 Quarter
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$1.82	USD	1 Quarter
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$2.00	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$1.16B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$789.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDiscontinuedOperations`	$285.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDiscontinuedOperations`	$279.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$38.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$44.00M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$108.00M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$799.00M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$62.00M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$1.41B	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$318.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$225.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.11B	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.29B	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseinContractwithCustomerLiability`	$-478.00M	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseinContractwithCustomerLiability`	$-185.00M	USD	1 Quarter
Postretirement benefit plans	`IncreaseDecreaseInPensionAndPostretirementObligations`	$345.00M	USD	1 Quarter
Postretirement benefit plans	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-1.15B	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$175.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.06B	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-188.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-266.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$632.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.67B	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$216.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$170.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-130.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.00M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-86.00M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-166.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$300.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$500.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$544.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$586.00M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$33.00M	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$31.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-161.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-108.00M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.01B	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.12B	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$379.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-468.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.84B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.39B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.22B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.84B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.86B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.39B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.22B	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-776.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-111.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$1.16B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$789.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$358.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$210.00M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$300.00M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$500.00M	USD	1 Quarter
Dividends declared	`DividendsCash`	$573.00M	USD	1 Quarter
Dividends declared	`DividendsCash`	$531.00M	USD	1 Quarter
Stock-based awards, ESOP activity and other	`StockBasedAwardsAndESOPActivity`	$26.00M	USD	1 Quarter
Stock-based awards, ESOP activity and other	`StockBasedAwardsAndESOPActivity`	$30.00M	USD	1 Quarter
Reclassification of income tax effects from tax reform	`TaxCutsAndJobsActOf2017ReclassificationFromAOCIToRetainedEarningsTaxEffect`	$2.40B	USD	1 Quarter
Net decrease in noncontrolling interests in subsidiary	`NoncontrollingInterestDecreaseFromSubsidiaryEquityIssuance`	$3.00M	USD	1 Quarter
Net increase in noncontrolling interests in subsidiary	`NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest`	$7.00M	USD	1 Quarter
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-776.00M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-111.00M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.48B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$1.16B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$789.00M	USD	1 Quarter
Amounts reclassified from accumulated other comprehensive loss	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$202.00M	USD	1 Quarter
Amounts reclassified from accumulated other comprehensive loss	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$300.00M	USD	1 Quarter
Other comprehensive gain recognized during the period	`OtherComprehensiveIncomePostretirementBenefitPlansUnrecognizedAmountsNetOfTax`	$3.00M	USD	1 Quarter
Other comprehensive gain recognized during the period	`OtherComprehensiveIncomePostretirementBenefitPlansUnrecognizedAmountsNetOfTax`	-	USD	1 Quarter
Other, net	`OtherComprehensiveIncomeOtherNetOfTax`	$58.00M	USD	1 Quarter
Other, net	`OtherComprehensiveIncomeOtherNetOfTax`	$5.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$358.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$210.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$999.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.51B	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.