Lockheed Martin 1996 Annual Report Download - page 68

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Consolidated Statement
of Earnings
Lockheed Martin Corporation
See accompanying Notes to Consolidated Financial Statements.
(In millions, except per share data)
Net sales
Costs and expenses:
Cost of sales
Merger related and consolidation expenses
Earnings from operations
Other income and expenses, net
Interest expense
Earnings before income taxes and cumulative effect
of change in accounting
Income tax expense
Earnings before cumulative effect of change in accounting
Cumulative effect of change in accounting
Net earnings
Earnings per common share:
Assuming no dilution:
Before cumulative effect of change in accounting
Cumulative effect of change in accounting
Assuming full dilution:
Before cumulative effect of change in accounting
Cumulative effect of change in accounting
1996
$26,875
24,594
2,281
452
2,733
700
2,033
686
1,347
$ 1,347
$ 6.80
$ 6.80
$ 6.04
$ 6.04
Year Ended December 31,
1995
$22,853
20,881
690
1,282
95
1,377
288
1,089
407
682
$ 682
$ 3.28
$ 3.28
$ 3.05
$ 3.05
1994
$22,906
21,127
1,779
200
1,979
304
1,675
620
1,055
(37)
$ 1,018
$ 5.32
(.20)
$ 5.12
$ 4.83
(.17)
$ 4.66