10-Q Filing

LOCKHEED MARTIN CORP CIK: 936468 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000936468-19-000022`
Period End Date	20190331
Filing Date	20190424
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	lmtq1201910q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 26 Cash Flow Statement 52 Stockholders Equity 20 Comprehensive Income 10

Balance Sheet 66 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`	$772.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$991.00M	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.44B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.83B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$10.50B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$9.47B	USD	Point-in-time
Inventories	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$3.29B	USD	Point-in-time
Inventories	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$3.00B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$425.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$418.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.03B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.10B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.14B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$6.12B	USD	Point-in-time
Goodwill	`Goodwill`	$10.77B	USD	Point-in-time
Goodwill	`Goodwill`	$10.77B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.49B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.42B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.17B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.21B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$6.15B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$5.18B	USD	Point-in-time
Total assets	`Assets`	$44.88B	USD	Point-in-time
Total assets	`Assets`	$47.68B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.40B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.10B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$6.49B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$6.80B	USD	Point-in-time
Salaries, benefits and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$1.86B	USD	Point-in-time
Salaries, benefits and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$2.12B	USD	Point-in-time
Current maturities of long-term debt and commercial paper	`DebtCurrent`	$1.50B	USD	Point-in-time
Current maturities of long-term debt and commercial paper	`DebtCurrent`	$1.30B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.88B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.35B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.40B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.40B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$12.60B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$12.62B	USD	Point-in-time
Accrued pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$11.42B	USD	Point-in-time
Accrued pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$11.41B	USD	Point-in-time
Other postretirement benefit liabilities	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$704.00M	USD	Point-in-time
Other postretirement benefit liabilities	`OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent`	$698.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$5.02B	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$4.31B	USD	Point-in-time
Total liabilities	`Liabilities`	$43.43B	USD	Point-in-time
Total liabilities	`Liabilities`	$45.16B	USD	Point-in-time
Common stock, $1 par value per share	`CommonStockValue`	$281.00M	USD	Point-in-time
Common stock, $1 par value per share	`CommonStockValue`	$281.00M	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`	$15.43B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.28B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.09B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-14.32B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.46B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.39B	USD	Point-in-time
Noncontrolling interests in subsidiary	`MinorityInterest`	$55.00M	USD	Point-in-time
Noncontrolling interests in subsidiary	`MinorityInterest`	$57.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-776.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-111.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.45B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.52B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$47.68B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$44.88B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Total net sales	`Revenues`	$11.63B	USD	1 Quarter
Total net sales	`Revenues`	$14.34B	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$9.98B	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$12.15B	USD	1 Quarter
Gross profit	`GrossProfit`	$2.19B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.66B	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$67.00M	USD	1 Quarter
Other income, net	`OtherOperatingIncomeExpenseNet`	$95.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$2.28B	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$1.73B	USD	1 Quarter
Interest expense	`InterestExpense`	$171.00M	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`	$-167.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.36B	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.95B	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$241.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$203.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.70B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.16B	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$6.03	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$4.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$5.99	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$4.02	USD	1 Quarter
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$2.20	USD	1 Quarter
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$2.00	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$1.70B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.16B	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDiscontinuedOperations`	$277.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDiscontinuedOperations`	$279.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$37.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$38.00M	USD	1 Quarter
Gain on property sale	`GainLossOnSaleOfProperties`	$51.00M	USD	1 Quarter
Gain on property sale	`GainLossOnSaleOfProperties`	-	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$389.00M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$108.00M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$1.41B	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$1.02B	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$288.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$318.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$744.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.29B	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-478.00M	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$305.00M	USD	1 Quarter
Postretirement benefit plans	`IncreaseDecreaseInPensionAndPostretirementObligations`	$278.00M	USD	1 Quarter
Postretirement benefit plans	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-1.15B	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$243.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.06B	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-266.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$172.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.66B	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$632.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$216.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$284.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-130.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-27.00M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-86.00M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-257.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$638.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$586.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$281.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$300.00M	USD	1 Quarter
Repayments of commercial paper, net	`RepaymentsOfCommercialPaper`	$200.00M	USD	1 Quarter
Repayments of commercial paper, net	`RepaymentsOfCommercialPaper`	-	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-128.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-68.00M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.01B	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.19B	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-468.00M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$219.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$772.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.39B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.86B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$991.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$772.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.39B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.86B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$991.00M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-776.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-111.00M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.45B	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.52B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$1.70B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.16B	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$227.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$358.00M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$300.00M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$284.00M	USD	1 Quarter
Dividends declared	`DividendsCash`	$623.00M	USD	1 Quarter
Dividends declared	`DividendsCash`	$573.00M	USD	1 Quarter
Stock-based awards, ESOP activity and other	`StockBasedAwardsAndESOPActivity`	$47.00M	USD	1 Quarter
Stock-based awards, ESOP activity and other	`StockBasedAwardsAndESOPActivity`	$26.00M	USD	1 Quarter
Net increase in noncontrolling interests in subsidiary	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$2.00M	USD	1 Quarter
Net decrease in noncontrolling interests in subsidiary	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$3.00M	USD	1 Quarter
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-776.00M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-111.00M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.45B	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.52B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$1.70B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.16B	USD	1 Quarter
Recognition of previously deferred postretirement benefit plan amounts	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$300.00M	USD	1 Quarter
Recognition of previously deferred postretirement benefit plan amounts	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$227.00M	USD	1 Quarter
Other, net	`OtherComprehensiveIncomeOtherNetOfTax`	-	USD	1 Quarter
Other, net	`OtherComprehensiveIncomeOtherNetOfTax`	$58.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$227.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$358.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.51B	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.93B	USD	1 Quarter

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