Lockheed Martin 1996 Annual Report Download - page 69

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Consolidated Statement
of Cash Flows
Lockheed Martin Corporation
See accompanying Notes to Consolidated Financial Statements. 67
(In millions)
Operating Activities
Earnings before cumulative effect of change in accounting
Adjustments to reconcile earnings to net cash
provided by operating activities:
Merger related and consolidation—expenses
—payments
Depreciation and amortization
Amortization of intangible assets
Deferred federal income taxes
Materials transactions
Changes in operating assets and liabilities:
Receivables
Inventories
Customer advances and amounts in excess
of costs incurred
Other
Net cash provided by operating activities
Investing Activities
Additions to properties, net of purchased operations
Loral transaction
Other acquisition, investment and divestiture activities
Net proceeds—Materials public offering
Other
Net cash used for investing activities
Financing Activities
Increases (decreases) in short-term borrowings, net
Increases in long-term debt
Repayments and extinguishments of long-term debt
Issuances of common stock
Purchases of common stock
Dividends on common stock
Dividends on preferred stock
Net cash provided by (used for) financing activities
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
1996
$ 1,347
—
(244)
732
465
(251)
(365)
(328)
(125)
544
(139)
1,636
(737)
(7,344)
(35)
-
87
(8,029)
1,110
7,000
(2,105)
97
—
(302)
(60)
5,740
(653)
653
$
Year Ended December 31,
1995
$ 682
690
(208)
605
296
(116)
—
(394)
430
(294)
(399)
1,292
(500)
—
(294)
—
95
(699)
(14)
125
(287)
61
(150)
(254)
(60)
(579)
14
639
$ 653
1994
$1,055
—
—
638
279
73
(118)
(169)
(221)
20
(64)
1,493
(509)
—
(125)
189
(57)
(502)
(7)
43
(512)
32
—
(214)
(60)
(718)
273
366
$ 639