Lockheed Martin 1999 Annual Report Download - page 55

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
December 31, 1999
in support of nuclear weapons stewardship and naval reac-
tor programs.
Corporate and Other— Includes commercial information
technology and state and local government services
lines of business. Also includes Global Telecommunications,
a wholly-owned subsidiary of the Corporation, which was
formed effective January 1, 1999 from the combination of
investments in several existing joint ventures and certain
other elements of the Corporation. Such investments were
transferred from the Systems Integration and Space Systems
segments. The prior period amounts related to these joint
ventures and elements transferred were not material to the
respective segments, and therefore, segment information in
prior periods was not restated to conform with the 1999
presentation. In addition, this segment includes the
Corporation’s investment in COMSAT and certain other
joint ventures and businesses.
Selected Financial Data by Business Segment
(In millions) 1999 1998 1997
Net sales
Systems Integration $10,954 $10,895 $10,853
Space Systems 5,825 7,039 7,931
Aeronautical Systems 5,499 5,459 5,319
Technology Services 2,261 1,935 1,989
Corporate and Other 991 938 1,977
$25,530 $26,266 $28,069
Operating profit (loss)
Systems Integration $ 967 $ 949 $ 843
Space Systems 474 954 1,090
Aeronautical Systems 247 649 561
Technology Services 137 135 187
Corporate and Other 184 (165) 98
$ 2,009 $ 2,522 $ 2,779
Intersegment revenue
Systems Integration $ 636 $ 692 $ 548
Space Systems 101 44 35
Aeronautical Systems 88 60 73
Technology Services 641 507 445
Corporate and Other 67 46 96
$ 1,533 $ 1,349 $ 1,197
Depreciation and amortization
Systems Integration $ 242 $ 269 $ 282
Space Systems 146 160 177
Aeronautical Systems 82 74 81
Technology Services 14 12 16
Corporate and Other 45 54 50
$ 529 $ 569 $ 606
(In millions) 1999 1998 1997
Amortization of intangible assets
Systems Integration $ 304 $ 304 $ 308
Space Systems 29 29 29
Aeronautical Systems 80 80 80
Technology Services 18 18 17
Corporate and Other 95 12
$ 440 $ 436 $ 446
Nonrecurring and unusual items—profit (loss)
Systems Integration $ 13 $ 4 $ (65)
Space Systems 21 — (60)
Aeronautical Systems —— (31)
Technology Services —— (12)
Corporate and Other 215 (166) 110
$ 249 $ (162) $ (58)
Expenditures for property, plant and equipment
Systems Integration $ 237 $ 220 $ 256
Space Systems 113 271 293
Aeronautical Systems 123 100 72
Technology Services 24 25 43
Corporate and Other 172 81 86
$ 669 $ 697 $ 750
Investments in equity method investees
Systems Integration $ 26 $ 19 $ 4
Space Systems 101 115 121
Aeronautical Systems 5— —
Technology Services 19 20 29
Corporate and Other 1,620 374 63
$ 1,771 $ 528 $ 217
Assets
(a)
Systems Integration $13,252 $13,435 $13,968
Space Systems 5,017 5,228 4,599
Aeronautical Systems 3,206 3,593 3,507
Technology Services 1,484 1,421 1,284
Corporate and Other 7,053 5,067 5,003
$30,012 $28,744 $28,361
(a) The Corporation has no significant long-lived assets located in
foreign countries.
Net Sales by Customer Category
(In millions) 1999 1998 1997
U.S. Government
Systems Integration $ 8,349 $ 8,295 $ 8,228
Space Systems 4,722 5,589 6,100
Aeronautical Systems 2,979 2,706 2,541
Technology Services 2,033 1,718 1,518
Corporate and Other 15 — 9
$18,098 $18,308 $18,396