Lockheed Martin 2001 Annual Report Download - page 59

Lockheed Martin Corporation
December 31, 2001
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
services, software modernization, information assurance
and data center management primarily for DoD and civil
government agencies, and also for commercial customers;
engineering, science and information services for NASA;
aircraft and engine maintenance and modification services;
management, operation, maintenance, training, and logis-
tics support for military and civilian systems; launch, mission,
and analysis services for military, classified and commer-
cial satellites; and research, development, engineering and
science in support of nuclear weapons stewardship and
naval reactor programs.
Corporate and Other—Includes the Corporation’s proper-
ties line of business, equity investments, including Intelsat,
Inmarsat, Loral Space and New Skies, as well as various
other Corporate activities.
Selected Financial Data by Business Segment
(In millions) 2001 2000 1999
Net sales
Systems Integration $ 9,014 $ 9,647 $ 9,570
Space Systems 6,836 7,339 7,285
Aeronautics 5,355 4,885 5,499
Technology Services 2,763 2,649 2,574
Corporate and Other 22 21 71
$23,990 $24,541 $24,999
Operating profit (loss)
Systems Integration $ 836 $ 583 $ 880
Space Systems 405 401 506
Aeronautics 416 343 247
Technology Services 130 82 137
Corporate and Other (899) (158) 227
$ 888 $ 1,251 $ 1,997
Intersegment revenue
Systems Integration $ 235 $ 472 $ 470
Space Systems 80 67 135
Aeronautics 52 78 88
Technology Services 814 746 656
Corporate and Other 77 48 47
$ 1,258 $ 1,411 $ 1,396
Depreciation and amortization
Systems Integration $ 149 $ 183 $ 223
Space Systems 147 152 165
Aeronautics 84 88 82
Technology Services 22 15 15
Corporate and Other 23 26 29
$ 425 $ 464 $ 514
(In millions) 2001 2000 1999
Amortization of goodwill and
other intangible assets
Systems Integration $ 220 $ 245 $ 276
Space Systems 56 56 57
Aeronautics 81 81 80
Technology Services 17 18 18
Corporate and Other 24 23 7
$ 398 $ 423 $ 438
Equity in earnings (losses)
of equity investees
Systems Integration $ (3) $ (16) $ —
Space Systems 51 40 35
Aeronautics ———
Technology Services 10 7 —
Corporate and Other 10 17 (17)
$68$48$18
Nonrecurring and unusual
items included in
operating profit (loss)
Systems Integration $—$ (304) $ 13
Space Systems (3) 25 21
Aeronautics ———
Technology Services —(34) —
Corporate and Other (915) (226) 215
$ (918) $ (539) $ 249
Expenditures for property,
plant and equipment(a)
Systems Integration $ 190 $ 185 $ 214
Space Systems 144 126 142
Aeronautics 142 89 123
Technology Services 30 15 26
Corporate and Other 39 27 75
$ 545 $ 442 $ 580
Assets(b)
Systems Integration $ 9,612 $ 9,758 $12,209
Space Systems 5,208 6,005 6,146
Aeronautics 3,017 3,173 3,206
Technology Services 1,911 1,588 1,604
Corporate and Other 7,268 7,570 6,489
Assets held for sale 638 2,332 607
$27,654 $30,426 $30,261
Customer advances and
amounts in excess of
costs incurred
Systems Integration $ 797 $ 899 $ 1,039
Space Systems 1,784 2,087 2,629
Aeronautics 2,406 1,636 899
Technology Services 15 60 40
Corporate and Other —15 1
$ 5,002 $ 4,697 $ 4,608
(a) Amounts exclude expenditures related to discontinued busi-
nesses totaling $74 million, $58 million and $89 million in
2001, 2000 and 1999, respectively.
(b) The Corporation has no significant long-lived assets located in
foreign countries.
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