Lockheed Martin 1996 Annual Report Download - page 61

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Lockheed Martin Corporation
not been appropriated. The following table shows total back-
log by segment at the end of each of the last three years:
(In millions)
Backlog
Space & Strategic Missiles
Electronics
Information & Services
Aeronautics
Energy, Materials and Other
1996
$19,463
10,937
6,431
13,408
167
$50,406
1995
$18,066
5,271
3,005
14,775
8
$41,125
1994
$17,778
5,061
3,174
16,146
73
$42,232
Total Space & Strategic Missiles backlog increased by eight
percent in 1996 compared to 1995 and by two percent in
1995 compared to 1994. The increase in 1996 occurred prin-
cipally from new orders received for Titan, Atlas and Proton
launch vehicle services and the SBIRS program. The increase
in 1995 occurred principally because of growth in new
orders for classified programs.
Negotiated Backlog
In millions
In the Electronics segment, total backlog more than
doubled in 1996 compared to 1995 due to the addition of the
backlog of the Tactical Systems companies acquired in 1996.
Excluding the acquired backlog of the Tactical Systems com-
panies, backlog in 1996 for the segment decreased by three
percent compared to 1995. This decrease was principally the
result of the net effect of close-outs of completed govern-
ment electronics contracts during the year. Total backlog
for 1995 increased by four percent compared to 1994.
The primary reasons for the 1995 increase were key new
awards for U.K. Apache helicopter night vision/fire control
systems, HYDRA-70 munitions and electronic warfare
countermeasures.
Total Information & Services backlog increased by 114
percent in 1996 compared to 1995 due to the addition of the
backlog of the Tactical Systems companies acquired in 1996.
Excluding the acquired backlog of the Tactical Systems
companies, backlog in 1996 for the segment increased by
25 percent compared to 1995. This increase was principally
the result of new information management services contract
awards. Total backlog for 1995 decreased by five percent
compared to 1994, primarily caused by reduced contract
volume in the segment's space shuttle processing program.
Total backlog for this segment will be negatively impacted in
1997 as a result of the pending divestiture of the business
units that will compose Newco.
In the Aeronautics segment, total backlog decreased by
nine percent in 1996 compared to 1995 and by eight percent
in 1995 compared to 1994. In both years, F-16 fighter aircraft
backlog decreased, primarily reflecting deliveries of aircraft
exceeding new orders. Decreases in backlog for the F-22 air
dominance fighter aircraft program, currently in the devel-
opment phase, also contributed to the 1996 decrease. In
1995, this decrease was partially offset by the receipt of
orders from the United Kingdom and Australia to provide
37 C-130J airlift aircraft, with options for 58 additional
aircraft for those two nations and New Zealand. It should be
noted that Aeronautics' backlog at December 31, 1996 does
not include activity related to the VentureStar™ and Joint
Strike Fighter program wins due to their unique nature as
cooperative research agreements and developmental
59
$60,000
$50,000
$40,000
$30,000
$20,000
$10,000
$0
96(a) 95 94
(a) Includes the effects of the April, 1996 business combination
with Loral Corporation.