← LOCKHEED MARTIN CORP

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $5.7b $6.9b $5.3b $5.0b
Net earnings $5.3b $2.0b $5.0b $6.2b $6.8b $6.3b $5.7b $6.9b $5.3b $5.0b
Net Income (Loss) Attributable to Parent $5.3b $2.0b $5.0b $6.2b $6.8b $6.3b $5.7b $6.9b $5.3b $5.0b
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent $3.8b $1.9b $5.0b $6.2b $6.9b $6.3b $5.7b — — —
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $1.5b $73.0m $0 $0 ($55.0m) $0 $0 — — —
Amortization — — — — $166.0m $175.0m $253.0m $263.0m $346.0m —
Amortization Cash Flow — — — — — $460.0m $501.0m $510.0m $593.0m —
Amortization Of Intangibles — — — — — $460.0m $501.0m $510.0m $593.0m —
Amortization of Intangible Assets $284.0m $312.0m $296.0m $284.0m $271.0m $285.0m $248.0m $247.0m $247.0m $254.0m
Capitalized Computer Software, Amortization — — — — — — — — — $393.0m
Depreciation $747.0m $760.0m $759.0m $794.0m $853.0m $904.0m $903.0m $920.0m $967.0m $1.0b
Depreciation Amortization Depletion — — — — — — $1.4b $1.4b $1.6b $1.7b
Depreciation and amortization $1.2b $1.2b $1.2b $1.2b $1.3b $1.1b $1.2b $1.4b $1.6b $1.7b
Depreciation, Amortization and Accretion, Net $1.2b $1.2b $1.2b $1.2b $1.3b $1.4b $1.4b $1.4b $1.6b $1.7b
Deferred Income Tax — — — — — — ($757.0m) ($498.0m) ($588.0m) $372.0m
Deferred Income Tax Expense (Benefit) ($152.0m) $3.4b ($244.0m) $222.0m $5.0m ($183.0m) ($757.0m) ($498.0m) ($588.0m) $372.0m
Deferred Tax — — — — — — ($757.0m) ($498.0m) ($588.0m) $372.0m
Deferred income taxes ($152.0m) $3.4b ($244.0m) $222.0m $5.0m ($183.0m) ($757.0m) ($498.0m) ($588.0m) $372.0m
Asset Impairment Charge — — — — — — $100.0m $92.0m $87.0m $66.0m
Equity Method Investment, Other than Temporary Impairment — — — — $128.0m $0 $0 — — —
Impairment and other charges — — — — — — $100.0m $92.0m $87.0m $66.0m
Restructuring Costs and Asset Impairment Charges — — — — — — — — $87.0m $66.0m
Share-based Payment Arrangement, Expense $149.0m $158.0m — — — — — — — —
Share-based Payment Arrangement, Noncash Expense $149.0m $158.0m $173.0m $189.0m $221.0m $227.0m $238.0m $265.0m $277.0m $304.0m
Gain (Loss) on Disposition of Business $1.2b $73.0m $0 $0 ($55.0m) $0 $0 — — —
Income (Loss) from Equity Method Investments $443.0m $207.0m $119.0m $154.0m $163.0m $97.0m $114.0m $40.0m $56.0m $28.0m
Income Tax Expense (Benefit) $1.1b $3.3b $792.0m $1.0b $1.3b $1.2b $948.0m $1.2b $884.0m $905.0m
Interest Expense Nonoperating — — — — — — — — $1.0b $1.1b
Operating Lease, Expense — — — $239.0m $223.0m $275.0m $275.0m $273.0m $260.0m $258.0m
Other Nonoperating Income (Expense) — ($1.0m) ($828.0m) ($651.0m) $182.0m $288.0m ($74.0m) $64.0m $181.0m $183.0m
Changes in operating assets and liabilities:
Additional Financial Items
Accounts payable ($188.0m) ($189.0m) $914.0m ($1.1b) ($372.0m) ($98.0m) $1.3b $151.0m ($93.0m) $1.3b
Beginning Cash Position — — — — — — $3.6b $2.5b $1.4b $2.5b
Cash Flow From Continuing Financing Activities — — — — — — ($7.1b) ($7.3b) ($4.1b) ($4.9b)
Cash Flow From Continuing Investing Activities — — — — — — ($1.8b) ($1.7b) ($1.8b) ($2.0b)
Change In Account Payable — — — — — — $1.3b $151.0m ($93.0m) $1.3b
Change In Income Tax Payable — — — — — — $148.0m ($133.0m) $131.0m ($255.0m)
Change In Inventory — — — — — — ($107.0m) ($44.0m) ($478.0m) ($286.0m)
Change In Other Working Capital — — — — — — $381.0m $702.0m $605.0m $1.2b
Change In Payable — — — — — — $1.4b $18.0m $38.0m $1.1b
Change In Payables And Accrued Expense — — — — — — $1.4b $18.0m $38.0m $1.1b
Change In Receivables — — — — — — ($2.3b) ($492.0m) ($328.0m) ($1.8b)
Change In Tax Payable — — — — — — $148.0m ($133.0m) $131.0m ($255.0m)
Change In Working Capital — — — — — — ($585.0m) $184.0m ($163.0m) $186.0m
Changes In Account Receivables — — — — — — ($542.0m) $373.0m ($219.0m) ($1.6b)
Changes In Cash — — — — — — ($1.1b) ($1.1b) $1.0b $1.6b
Contract assets ($1.2b) $390.0m ($1.5b) $378.0m ($451.0m) ($1.0b) ($1.7b) ($865.0m) ($109.0m) ($283.0m)
Contract liabilities ($163.0m) $353.0m ($537.0m) $563.0m $491.0m $562.0m $381.0m $702.0m $605.0m $1.2b
Debt and Equity Securities, Realized Gain (Loss) — — — — — — ($323.0m) $240.0m $170.0m $253.0m
End Cash Position — — — — — — $2.5b $1.4b $2.5b $4.1b
Equity Securities, FV-NI, Realized Gain (Loss) — — — — — $265.0m $114.0m ($64.0m) $22.0m $55.0m
Financing Cash Flow — — — — — — ($7.1b) ($7.3b) ($4.1b) ($4.9b)
Free Cash Flow — — — — — — $6.1b $6.2b $5.3b $6.9b
Gain (Loss) on Sale of Properties — $198.0m $0 $51.0m $0 $0 — — — —
Goodwill $10.8b $10.8b $10.8b $10.6b $10.8b $10.8b $10.8b $10.8b $11.1b $11.3b
Income taxes $146.0m ($1.2b) $1.1b ($151.0m) ($19.0m) $45.0m $148.0m ($133.0m) $131.0m ($255.0m)
Increase (Decrease) in Accounts Payable ($188.0m) ($189.0m) $914.0m ($1.1b) ($372.0m) ($98.0m) $1.3b $151.0m ($93.0m) $1.3b
Increase (Decrease) in Inventories $46.0m ($183.0m) $119.0m $622.0m ($74.0m) ($564.0m) $107.0m $44.0m $478.0m $286.0m
Inventories ($46.0m) $183.0m ($119.0m) ($622.0m) $74.0m $564.0m ($107.0m) ($44.0m) ($478.0m) ($286.0m)
Investing Cash Flow — — — — — — ($1.8b) ($1.7b) ($1.8b) ($2.0b)
Operating Gains Losses — — — — — $1.7b $1.5b $92.0m — $479.0m
Other Non Cash Items — — — — — — $200.0m ($473.0m) $464.0m $446.0m
Other, net ($267.0m) ($212.0m) ($163.0m) ($72.0m) ($144.0m) ($89.0m) ($115.0m) ($135.0m) ($182.0m) ($154.0m)
Pension And Employee Benefit Expense — — — — — — $1.5b $0 $0 $479.0m
Pension settlement charge — — — $0 $0 $1.7b $1.5b $0 $0 $479.0m
Proceeds from Stock Options Exercised $106.0m $71.0m — — — — — — — —
Qualified defined benefit pension plans $1.0b $1.3b ($3.6b) $81.0m ($1.2b) ($267.0m) ($412.0m) ($378.0m) ($992.0m) ($415.0m)
Reach-forward losses on select programs — — — — — — — $45.0m $2.0b $1.6b
Receivables, net ($811.0m) ($401.0m) ($179.0m) $107.0m $359.0m $15.0m ($542.0m) $373.0m ($219.0m) ($1.6b)
Repurchase Of Capital Stock — — — — — — ($7.9b) ($6.0b) ($3.7b) ($3.0b)
Stock Based Compensation — — — — — — $238.0m $265.0m $277.0m $304.0m
Stock-based compensation $149.0m $158.0m $173.0m $189.0m $221.0m $227.0m $238.0m $265.0m $277.0m $304.0m
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement — — — — — ($1.7b) ($1.5b) $0 $0 ($479.0m)
Other Operating Income (Expense), Net $487.0m $373.0m $60.0m $178.0m ($10.0m) $62.0m $61.0m $28.0m $83.0m $112.0m
Net Cash Provided by (Used in) Operating Activities $5.2b $6.5b $3.1b $7.3b $8.2b $9.2b $7.8b $7.9b $7.0b $8.6b
Cash flows from investing activities:
Capital Expenditure — — — — — — ($1.7b) ($1.7b) ($1.7b) ($1.6b)
Capital Expenditure Reported $1.1b $1.2b $1.3b $1.5b $1.8b $1.5b ($1.7b) ($1.7b) ($1.7b) ($1.6b)
Capital expenditures ($1.1b) ($1.2b) ($1.3b) ($1.5b) ($1.8b) ($1.5b) ($1.7b) ($1.7b) ($1.7b) ($1.6b)
Payments to Acquire Businesses, Net of Cash Acquired — — — — $282.0m $0 — — — —
Net Other Investing Changes — — — — — — ($119.0m) ($3.0m) ($107.0m) ($328.0m)
Payments for (Proceeds from) Other Investing Activities ($78.0m) ($30.0m) ($203.0m) ($243.0m) ($38.0m) ($361.0m) $119.0m $3.0m $107.0m $328.0m
Net cash used for investing activities ($985.0m) ($1.1b) ($1.1b) ($1.2b) ($2.0b) ($1.2b) ($1.8b) ($1.7b) ($1.8b) ($2.0b)
Net Cash Provided by (Used in) Investing Activities ($985.0m) ($1.1b) ($1.1b) ($1.2b) ($2.0b) ($1.2b) ($1.8b) ($1.7b) ($1.8b) ($2.0b)
Cash flows from financing activities:
Issuance Of Debt — — — — — — $6.2b $2.0b $3.0b $2.0b
Issuance of long-term debt, net of related costs — — $0 $0 $1.1b $0 $6.2b $2.0b $3.0b $2.0b
Long Term Debt Issuance — — — — — — $6.2b $2.0b $3.0b $2.0b
Net Issuance Payments Of Debt — — — — — — $4.0b $1.9b $2.8b $1.3b
Net Long Term Debt Issuance — — — — — — $4.0b $1.9b $2.8b $1.3b
Proceeds from Issuance of Long-term Debt — $0 $0 $0 $1.1b $0 $6.2b $2.0b $3.0b $2.0b
Long Term Debt Payments — — — — — — ($2.2b) ($115.0m) ($168.0m) ($642.0m)
Repayment Of Debt — — — — — — ($2.2b) ($115.0m) ($168.0m) ($642.0m)
Repayments of Long-term Debt $952.0m $0 $750.0m $900.0m $1.6b $500.0m $2.2b $115.0m $168.0m $642.0m
Net Common Stock Issuance — — — — — — ($7.9b) ($6.0b) ($3.7b) ($3.0b)
Common Stock Payments — — — — — — ($7.9b) ($6.0b) ($3.7b) ($3.0b)
Payments for Repurchase of Common Stock $2.1b $2.0b $1.5b $1.2b $1.1b $4.1b $7.9b $6.0b $3.7b $3.0b
Payments of Ordinary Dividends, Common Stock $2.0b $2.2b $2.3b $2.6b $2.8b $2.9b $3.0b $3.1b $3.1b $3.1b
Repurchases of common stock ($2.1b) ($2.0b) ($1.5b) ($1.2b) ($1.1b) ($4.1b) ($7.9b) ($6.0b) ($3.7b) ($3.0b)
Cash Dividends Paid — — — — — — ($3.0b) ($3.1b) ($3.1b) ($3.1b)
Dividends paid ($2k) ($2k) ($2k) ($3k) ($3k) ($3k) ($3k) ($3k) ($3k) ($3k)
Net Other Financing Charges — — — — — — ($115.0m) ($135.0m) ($182.0m) ($154.0m)
Proceeds from (Payments for) Other Financing Activities ($267.0m) ($212.0m) ($163.0m) ($72.0m) ($144.0m) ($89.0m) ($115.0m) ($135.0m) ($182.0m) ($154.0m)
Net cash used for financing activities ($3.5b) ($4.3b) ($4.2b) ($5.3b) ($4.5b) ($7.6b) ($7.1b) ($7.3b) ($4.1b) ($4.9b)
Net Cash Provided by (Used in) Financing Activities ($3.5b) ($4.3b) ($4.2b) ($5.3b) ($4.5b) ($7.6b) ($7.1b) ($7.3b) ($4.1b) ($4.9b)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — $742.0m $1.6b $444.0m ($1.1b) ($1.1b) $1.0b $1.6b
Cash and cash equivalents at beginning of year $1.1b $1.8b $2.9b $1.5b $3.2b $3.6b $2.5b $1.4b $2.5b $4.1b
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $1.5b $3.2b $3.6b $2.5b $1.4b $2.5b $4.1b
Net change in cash and cash equivalents $747.0m $1.0b ($2.1b) $742.0m $1.6b $444.0m ($1.1b) ($1.1b) $1.0b $1.6b
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — ($1.1b) ($1.1b) $1.0b $1.6b
Interest Paid, Excluding Capitalized Interest, Operating Activities — — — $625.0m $567.0m $543.0m $573.0m $832.0m $950.0m $1.0b
Income Taxes Paid, Net $1.3b $1.1b ($41.0m) $940.0m $1.4b $1.4b $1.6b $1.8b $1.3b $788.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.