10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0000936468-20-000056 |
| Period End Date | 20200331 |
| Filing Date | 20200422 |
| Fiscal Year | 2020 |
| Fiscal Period | Q1 |
| XBRL Instance | lmtq1202010q_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
64 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
|
$1.51B | USD | Point-in-time |
| Cash and cash equivalents |
CashAndCashEquivalentsAtCarryingValue
|
$1.99B | USD | Point-in-time |
| Receivables, net |
ReceivablesNetCurrent
|
$2.34B | USD | Point-in-time |
| Receivables, net |
ReceivablesNetCurrent
|
$2.89B | USD | Point-in-time |
| Contract assets |
ContractWithCustomerAssetNetCurrent
|
$10.19B | USD | Point-in-time |
| Contract assets |
ContractWithCustomerAssetNetCurrent
|
$9.09B | USD | Point-in-time |
| Inventories |
InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings
|
$3.62B | USD | Point-in-time |
| Inventories |
InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings
|
$3.54B | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$531.00M | USD | Point-in-time |
| Other current assets |
OtherAssetsCurrent
|
$614.00M | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$19.22B | USD | Point-in-time |
| Total current assets |
AssetsCurrent
|
$17.09B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$6.59B | USD | Point-in-time |
| Property, plant and equipment, net |
PropertyPlantAndEquipmentNet
|
$6.61B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$10.56B | USD | Point-in-time |
| Goodwill |
Goodwill
|
$10.60B | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$3.14B | USD | Point-in-time |
| Intangible assets, net |
IntangibleAssetsNetExcludingGoodwill
|
$3.21B | USD | Point-in-time |
| Deferred income taxes |
DeferredIncomeTaxAssetsNet
|
$3.32B | USD | Point-in-time |
| Deferred income taxes |
DeferredIncomeTaxAssetsNet
|
$3.16B | USD | Point-in-time |
| Other noncurrent assets |
OtherAssetsNoncurrent
|
$6.55B | USD | Point-in-time |
| Other noncurrent assets |
OtherAssetsNoncurrent
|
$6.71B | USD | Point-in-time |
| Total assets |
Assets
|
$49.25B | USD | Point-in-time |
| Total assets |
Assets
|
$47.53B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$1.28B | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$3.17B | USD | Point-in-time |
| Contract liabilities |
ContractWithCustomerLiabilityCurrent
|
$7.05B | USD | Point-in-time |
| Contract liabilities |
ContractWithCustomerLiabilityCurrent
|
$7.21B | USD | Point-in-time |
| Salaries, benefits and payroll taxes |
EmployeeRelatedLiabilitiesCurrent
|
$2.47B | USD | Point-in-time |
| Salaries, benefits and payroll taxes |
EmployeeRelatedLiabilitiesCurrent
|
$2.02B | USD | Point-in-time |
| Current maturities of long-term debt |
DebtCurrent
|
$1.25B | USD | Point-in-time |
| Current maturities of long-term debt |
DebtCurrent
|
$1.25B | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$2.01B | USD | Point-in-time |
| Other current liabilities |
OtherLiabilitiesCurrent
|
$1.92B | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$15.65B | USD | Point-in-time |
| Total current liabilities |
LiabilitiesCurrent
|
$13.97B | USD | Point-in-time |
| Long-term debt, net |
LongTermDebtNoncurrent
|
$11.44B | USD | Point-in-time |
| Long-term debt, net |
LongTermDebtNoncurrent
|
$11.40B | USD | Point-in-time |
| Accrued pension liabilities |
DefinedBenefitPensionPlanLiabilitiesNoncurrent
|
$13.08B | USD | Point-in-time |
| Accrued pension liabilities |
DefinedBenefitPensionPlanLiabilitiesNoncurrent
|
$13.23B | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$5.75B | USD | Point-in-time |
| Other noncurrent liabilities |
OtherLiabilitiesNoncurrent
|
$5.59B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$45.76B | USD | Point-in-time |
| Total liabilities |
Liabilities
|
$44.36B | USD | Point-in-time |
| Common stock, $1 par value per share |
CommonStockValue
|
$279.00M | USD | Point-in-time |
| Common stock, $1 par value per share |
CommonStockValue
|
$280.00M | 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
|
$18.40B | USD | Point-in-time |
| Retained earnings |
RetainedEarningsAccumulatedDeficit
|
$18.71B | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-15.55B | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-15.54B | USD | Point-in-time |
| Total stockholders equity |
StockholdersEquity
|
$3.45B | USD | Point-in-time |
| Total stockholders equity |
StockholdersEquity
|
$3.13B | USD | Point-in-time |
| Noncontrolling interests in subsidiary |
MinorityInterest
|
$41.00M | USD | Point-in-time |
| Noncontrolling interests in subsidiary |
MinorityInterest
|
$44.00M | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$3.49B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$3.17B | USD | Point-in-time |
| Total equity |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.45B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$49.25B | USD | Point-in-time |
| Total liabilities and equity |
LiabilitiesAndStockholdersEquity
|
$47.53B | USD | Point-in-time |
Income Statement
26 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Total net sales |
Revenues
|
$14.34B | USD | 1 Quarter |
| Total net sales |
Revenues
|
$15.65B | USD | 1 Quarter |
| Total cost of sales |
CostOfGoodsAndServicesSold
|
$12.15B | USD | 1 Quarter |
| Total cost of sales |
CostOfGoodsAndServicesSold
|
$13.56B | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$2.09B | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$2.19B | USD | 1 Quarter |
| Other income, net |
OtherOperatingIncomeExpenseNet
|
$31.00M | USD | 1 Quarter |
| Other income, net |
OtherOperatingIncomeExpenseNet
|
$95.00M | USD | 1 Quarter |
| Operating profit |
OperatingIncomeLoss
|
$2.12B | USD | 1 Quarter |
| Operating profit |
OperatingIncomeLoss
|
$2.28B | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$171.00M | USD | 1 Quarter |
| Interest expense |
InterestExpense
|
$148.00M | USD | 1 Quarter |
| Other non-operating income (expense), net |
OtherNonoperatingIncomeExpense
|
$-167.00M | USD | 1 Quarter |
| Other non-operating income (expense), net |
OtherNonoperatingIncomeExpense
|
$56.00M | USD | 1 Quarter |
| Earnings before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$1.95B | USD | 1 Quarter |
| Earnings before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$2.03B | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$241.00M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$313.00M | USD | 1 Quarter |
| Net earnings |
NetIncomeLoss
|
$1.70B | USD | 1 Quarter |
| Net earnings |
NetIncomeLoss
|
$1.72B | USD | 1 Quarter |
| Basic (in dollars per share) |
EarningsPerShareBasic
|
$6.03 | USD | 1 Quarter |
| Basic (in dollars per share) |
EarningsPerShareBasic
|
$6.10 | USD | 1 Quarter |
| Diluted (in dollars per share) |
EarningsPerShareDiluted
|
$6.08 | USD | 1 Quarter |
| Diluted (in dollars per share) |
EarningsPerShareDiluted
|
$5.99 | USD | 1 Quarter |
| Cash dividends paid per common share (in dollars per share) |
CommonStockDividendsPerShareCashPaid
|
$2.40 | USD | 1 Quarter |
| Cash dividends paid per common share (in dollars per share) |
CommonStockDividendsPerShareCashPaid
|
$2.20 | 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
|
$1.72B | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortizationIncludingDiscontinuedOperations
|
$277.00M | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationAndAmortizationIncludingDiscontinuedOperations
|
$301.00M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$42.00M | USD | 1 Quarter |
| Stock-based compensation |
ShareBasedCompensation
|
$37.00M | 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
|
$555.00M | USD | 1 Quarter |
| Contract assets |
IncreaseDecreaseInContractWithCustomerAsset
|
$1.09B | USD | 1 Quarter |
| Contract assets |
IncreaseDecreaseInContractWithCustomerAsset
|
$1.02B | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$288.00M | USD | 1 Quarter |
| Inventories |
IncreaseDecreaseInInventories
|
$-80.00M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$744.00M | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayable
|
$1.89B | USD | 1 Quarter |
| Contract liabilities |
IncreaseDecreaseInContractWithCustomerLiability
|
$151.00M | USD | 1 Quarter |
| Contract liabilities |
IncreaseDecreaseInContractWithCustomerLiability
|
$305.00M | USD | 1 Quarter |
| Postretirement benefit plans |
IncreaseDecreaseInPensionAndPostretirementObligations
|
$-39.00M | USD | 1 Quarter |
| Postretirement benefit plans |
IncreaseDecreaseInPensionAndPostretirementObligations
|
$278.00M | USD | 1 Quarter |
| Income taxes |
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
$243.00M | USD | 1 Quarter |
| Income taxes |
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
$167.00M | USD | 1 Quarter |
| Other, net |
IncreaseDecreaseInOtherOperatingCapitalNet
|
$349.00M | 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
|
$2.31B | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquireProductiveAssets
|
$293.00M | USD | 1 Quarter |
| Capital expenditures |
PaymentsToAcquireProductiveAssets
|
$284.00M | USD | 1 Quarter |
| Other, net |
PaymentsForProceedsFromOtherInvestingActivities
|
$2.00M | USD | 1 Quarter |
| Other, net |
PaymentsForProceedsFromOtherInvestingActivities
|
$-27.00M | USD | 1 Quarter |
| Net cash used for investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-257.00M | USD | 1 Quarter |
| Net cash used for investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-295.00M | USD | 1 Quarter |
| Dividends paid |
PaymentsOfDividendsCommonStock
|
$693.00M | USD | 1 Quarter |
| Dividends paid |
PaymentsOfDividendsCommonStock
|
$638.00M | USD | 1 Quarter |
| Repurchases of common stock |
PaymentsForRepurchaseOfCommonStock
|
$281.00M | USD | 1 Quarter |
| Repurchases of common stock |
PaymentsForRepurchaseOfCommonStock
|
$756.00M | USD | 1 Quarter |
| Repayments of commercial paper, net |
ProceedsFromRepaymentsOfCommercialPaper
|
$-200.00M | USD | 1 Quarter |
| Repayments of commercial paper, net |
ProceedsFromRepaymentsOfCommercialPaper
|
- | USD | 1 Quarter |
| Other, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
$-68.00M | USD | 1 Quarter |
| Other, net |
ProceedsFromPaymentsForOtherFinancingActivities
|
$-96.00M | USD | 1 Quarter |
| Net cash used for financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-1.19B | USD | 1 Quarter |
| Net cash used for financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-1.54B | USD | 1 Quarter |
| Net change in cash and cash equivalents |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$474.00M | 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
|
$991.00M | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.99B | USD | Point-in-time |
| Cash and cash equivalents at beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.51B | 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
|
$991.00M | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.99B | USD | Point-in-time |
| Cash and cash equivalents at end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.51B | USD | Point-in-time |
Stockholders Equity
20 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Beginning Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
| Beginning Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$3.49B | USD | Point-in-time |
| Beginning Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$3.17B | USD | Point-in-time |
| Beginning Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.45B | USD | Point-in-time |
| Net earnings |
NetIncomeLoss
|
$1.70B | USD | 1 Quarter |
| Net earnings |
NetIncomeLoss
|
$1.72B | USD | 1 Quarter |
| Other comprehensive income, net of tax |
OtherComprehensiveIncomeLossNetOfTax
|
$13.00M | USD | 1 Quarter |
| Other comprehensive income, net of tax |
OtherComprehensiveIncomeLossNetOfTax
|
$227.00M | USD | 1 Quarter |
| Repurchases of common stock |
StockRepurchasedDuringPeriodValue
|
$284.00M | USD | 1 Quarter |
| Repurchases of common stock |
StockRepurchasedDuringPeriodValue
|
$764.00M | USD | 1 Quarter |
| Dividends declared |
DividendsCash
|
$623.00M | USD | 1 Quarter |
| Dividends declared |
DividendsCash
|
$677.00M | USD | 1 Quarter |
| Stock-based awards, ESOP activity and other |
StockBasedAwardsAndESOPActivity
|
$47.00M | USD | 1 Quarter |
| Stock-based awards, ESOP activity and other |
StockBasedAwardsAndESOPActivity
|
$30.00M | USD | 1 Quarter |
| Net decrease in noncontrolling interests in subsidiary |
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
$3.00M | USD | 1 Quarter |
| Net increase in noncontrolling interests in subsidiary |
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
|
$2.00M | USD | 1 Quarter |
| Ending Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$2.52B | USD | Point-in-time |
| Ending Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$3.49B | USD | Point-in-time |
| Ending Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$3.17B | USD | Point-in-time |
| Ending Balance |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$1.45B | 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
|
$1.72B | USD | 1 Quarter |
| Recognition of previously deferred postretirement benefit plan amounts |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
$227.00M | USD | 1 Quarter |
| Recognition of previously deferred postretirement benefit plan amounts |
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax
|
$110.00M | USD | 1 Quarter |
| Other, net |
OtherComprehensiveIncomeOtherNetOfTax
|
- | USD | 1 Quarter |
| Other, net |
OtherComprehensiveIncomeOtherNetOfTax
|
$-97.00M | USD | 1 Quarter |
| Other comprehensive income, net of tax |
OtherComprehensiveIncomeLossNetOfTax
|
$13.00M | USD | 1 Quarter |
| Other comprehensive income, net of tax |
OtherComprehensiveIncomeLossNetOfTax
|
$227.00M | USD | 1 Quarter |
| Comprehensive income |
ComprehensiveIncomeNetOfTax
|
$1.73B | 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.