LMT FY 2014 Earnings Report — Lockheed Martin Corporation Revenue & Financial Results | Market Cap Arena

Lockheed Martin CorporationLMT

FY 2014 Earnings

Reported February 9, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$39.9B	—	$45.4B	—	-11.9%
Op. Income	$5.6B	—	$4.5B	—	24.1%
Gross Margin	11.7%	—	10.1%	—	1.6pp
Net Margin	9.0%	—	6.6%	—	2.5pp
EPS (Diluted)	$11.21	—	$9.13	—	22.8%
Free Cash Flow	$3.0B	—	$3.7B	—	-18.6%

Revenue Flow

Item	Amount
REVENUE	$39.9B
Cost of Revenue	$35.3B
GROSS PROFIT	$4.7B
R&D Expenses	$751M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	-$1.1B
Operating Expenses	-$329M
Cost & Expenses	$34.9B
OPERATING INCOME	$5.6B
Interest Income	$0
Interest Expense	$340M
Other Income/Expenses	-$334M
INCOME BEFORE TAX	$5.3B
Income Tax Expense	$1.6B
Net Income from Continuing Ops	$3.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.6B
D&A	$994M
EBIT	$5.0B
EBITDA	$6.0B
EPS	$11
EPS Diluted	$11

Income Statement

Item	Amount
REVENUE	$39.9B
Cost of Revenue	$35.3B
GROSS PROFIT	$4.7B
R&D Expenses	$751M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	-$1.1B
Operating Expenses	-$329M
Cost & Expenses	$34.9B
OPERATING INCOME	$5.6B
Interest Income	$0
Interest Expense	$340M
Other Income/Expenses	-$334M
INCOME BEFORE TAX	$5.3B
Income Tax Expense	$1.6B
Net Income from Continuing Ops	$3.6B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$3.6B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$3.6B
D&A	$994M
EBIT	$5.0B
EBITDA	$6.0B
EPS	$11
EPS Diluted	$11

Cash Flow Statement

Item	Amount
Net Income	$3.6B
Depreciation & Amortization	$994M
Stock-Based Compensation	$164M
Deferred Income Tax	-$401M
Other Non-Cash Items	$396M
Change in Working Capital	-$901M
OPERATING CASH FLOW	$3.9B
Capital Expenditure	-$845M
Acquisitions (Net)	-$898M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$20M
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	$0
Common Stock Repurchased	-$1.9B
Common Dividends Paid	-$1.8B
Other Financing Activities	$346M
NET CASH FROM FINANCING	-$3.3B
FREE CASH FLOW	$3.0B
Net Change in Cash	-$1.2B

Balance Sheet

Item	Amount
Cash & Equivalents	$1.4B
Short-Term Investments	$0
Net Receivables	$5.9B
Inventory	$2.9B
Other Current Assets	$2.1B
TOTAL CURRENT ASSETS	$12.3B
PP&E (Net)	$4.8B
Goodwill	$10.9B
Intangible Assets	$324M
Long-Term Investments	$971M
Tax Assets	$4.0B
Other Non-Current Assets	$3.8B
TOTAL NON-CURRENT ASSETS	$24.7B
TOTAL ASSETS	$37.1B
Account Payables	$1.6B
Short-Term Debt	$0
Deferred Revenue	$5.8B
Other Current Liabilities	$1.9B
TOTAL CURRENT LIABILITIES	$11.1B
Long-Term Debt	$6.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16.4B
TOTAL NON-CURRENT LIABILITIES	$22.6B
TOTAL LIABILITIES	$33.7B
Common Stock	$314M
Additional Paid-In Capital	$0
Retained Earnings	$15.0B
Treasury Stock	$0
Accum. Other Comp. Income	-$11.9B
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.4B
Minority Interest	$0
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$37.1B
Total Debt	$6.2B
Net Debt	$4.7B