10-Q Filing

LOCKHEED MARTIN CORP CIK: 936468 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000936468-21-000044`
Period End Date	20210331
Filing Date	20210421
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	lmt-20210328_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 28 Cash Flow Statement 50 Stockholders Equity 20 Comprehensive Income 10

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.16B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.93B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$1.98B	USD	Point-in-time
Receivables, net	`ReceivablesNetCurrent`	$2.21B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$10.91B	USD	Point-in-time
Contract assets	`ContractWithCustomerAssetNetCurrent`	$9.54B	USD	Point-in-time
Inventories	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$3.26B	USD	Point-in-time
Inventories	`InventoryNetOfAllowancesCustomerAdvancesAndProgressBillings`	$3.54B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.15B	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$941.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$20.25B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.38B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$7.21B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$7.21B	USD	Point-in-time
Goodwill	`Goodwill`	$10.80B	USD	Point-in-time
Goodwill	`Goodwill`	$10.81B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.01B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$2.93B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.38B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$3.48B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$6.83B	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$6.87B	USD	Point-in-time
Total assets	`Assets`	$50.71B	USD	Point-in-time
Total assets	`Assets`	$51.44B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$880.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.89B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$7.25B	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$7.54B	USD	Point-in-time
Salaries, benefits and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$2.79B	USD	Point-in-time
Salaries, benefits and payroll taxes	`EmployeeRelatedLiabilitiesCurrent`	$3.16B	USD	Point-in-time
Current maturities of long-term debt	`DebtCurrent`	$500.00M	USD	Point-in-time
Current maturities of long-term debt	`DebtCurrent`	$506.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.84B	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$2.27B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.72B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.93B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$11.67B	USD	Point-in-time
Long-term debt, net	`LongTermDebtNoncurrent`	$11.66B	USD	Point-in-time
Accrued pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$12.64B	USD	Point-in-time
Accrued pension liabilities	`DefinedBenefitPensionPlanLiabilitiesNoncurrent`	$12.87B	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$6.20B	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$6.09B	USD	Point-in-time
Total liabilities	`Liabilities`	$45.10B	USD	Point-in-time
Total liabilities	`Liabilities`	$44.67B	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`	$278.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$221.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$65.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.64B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$21.98B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.01B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.12B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.31B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$6.01B	USD	Point-in-time
Noncontrolling interests in subsidiary	`MinorityInterest`	$21.00M	USD	Point-in-time
Noncontrolling interests in subsidiary	`MinorityInterest`	$23.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.33B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.04B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.17B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.49B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$51.44B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$50.71B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Total net sales	`Revenues`	$15.65B	USD	1 Quarter
Total net sales	`Revenues`	$16.26B	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$13.56B	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$14.07B	USD	1 Quarter
Severance and restructuring charges	`SeveranceAndRestructuringCosts`	$36.00M	USD	1 Quarter
Severance and restructuring charges	`SeveranceAndRestructuringCosts`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$2.19B	USD	1 Quarter
Gross profit	`GrossProfit`	$2.09B	USD	1 Quarter
Other (expense) income, net	`OtherOperatingIncomeExpenseNet`	$31.00M	USD	1 Quarter
Other (expense) income, net	`OtherOperatingIncomeExpenseNet`	$-4.00M	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$2.18B	USD	1 Quarter
Operating profit	`OperatingIncomeLoss`	$2.12B	USD	1 Quarter
Interest expense	`InterestExpense`	$140.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$148.00M	USD	1 Quarter
Other non-operating income, net	`OtherNonoperatingIncomeExpense`	$169.00M	USD	1 Quarter
Other non-operating income, net	`OtherNonoperatingIncomeExpense`	$56.00M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.03B	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.21B	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$313.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$374.00M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.72B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.84B	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$6.10	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$6.58	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$6.08	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$6.56	USD	1 Quarter
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$2.60	USD	1 Quarter
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$2.40	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$1.72B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.84B	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortizationIncludingDiscontinuedOperations`	$336.00M	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`	$47.00M	USD	1 Quarter
Severance and restructuring charges	`SeveranceAndRestructuringCosts`	$36.00M	USD	1 Quarter
Severance and restructuring charges	`SeveranceAndRestructuringCosts`	-	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$555.00M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$236.00M	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$1.36B	USD	1 Quarter
Contract assets	`IncreaseDecreaseInContractWithCustomerAsset`	$1.09B	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-289.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-80.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.89B	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.02B	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$151.00M	USD	1 Quarter
Contract liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-290.00M	USD	1 Quarter
Postretirement benefit plans	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-66.00M	USD	1 Quarter
Postretirement benefit plans	`IncreaseDecreaseInPensionAndPostretirementObligations`	$-39.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$301.00M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$167.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$349.00M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$166.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.75B	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.31B	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$281.00M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$293.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-112.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$2.00M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-295.00M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-169.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$739.00M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$693.00M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.00B	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$756.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-67.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-96.00M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.81B	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`	$-227.00M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.16B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.93B	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`	$3.16B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.93B	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`	$6.33B	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.04B	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.17B	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.49B	USD	Point-in-time
Net earnings	`NetIncomeLoss`	$1.72B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.84B	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$113.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$13.00M	USD	1 Quarter
Dividends declared	`DividendsCash`	$677.00M	USD	1 Quarter
Dividends declared	`DividendsCash`	$725.00M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$1.00B	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$764.00M	USD	1 Quarter
Stock-based awards, ESOP activity and other	`StockBasedAwardsAndESOPActivity`	$30.00M	USD	1 Quarter
Stock-based awards, ESOP activity and other	`StockBasedAwardsAndESOPActivity`	$72.00M	USD	1 Quarter
Net decrease in noncontrolling interests in subsidiary	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$3.00M	USD	1 Quarter
Net decrease in noncontrolling interests in subsidiary	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$2.00M	USD	1 Quarter
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.33B	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.04B	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.17B	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.49B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$1.72B	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$1.84B	USD	1 Quarter
Recognition of previously deferred postretirement benefit plan amounts	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-110.00M	USD	1 Quarter
Recognition of previously deferred postretirement benefit plan amounts	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax`	$-140.00M	USD	1 Quarter
Other, net	`OtherComprehensiveIncomeOtherNetOfTax`	$-27.00M	USD	1 Quarter
Other, net	`OtherComprehensiveIncomeOtherNetOfTax`	$-97.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$113.00M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$13.00M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.95B	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$1.73B	USD	1 Quarter

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