Lockheed Martin 2001 Annual Report Download - page 62

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Lockheed Martin Annual Report >>> 69
Lockheed Martin Corporation
CONSOLIDATED FINANCIAL DATA—FIVE YEAR SUMMARY
(In millions, except per share data) 2001(a) 2000(b) 1999(c) 1998(d) 1997(e)
Operating Results
Net sales $23,990 $24,541 $24,999 $25,809 $27,764
Cost of sales 22,447 22,881 23,346 23,492 25,380
Earnings from operations 1,543 1,660 1,653 2,317 2,384
Other income and expenses, net (655) (409) 344 170 482
888 1,251 1,997 2,487 2,866
Interest expense 700 919 809 861 842
Earnings from continuing operations before
income taxes, extraordinary item and cumulative
effect of change in accounting 188 332 1,188 1,626 2,024
Income tax expense 109 714 459 648 667
Earnings (loss) from continuing operations before
extraordinary item and cumulative effect of
change in accounting 79 (382) 729 978 1,357
Discontinued operations (1,089) (42) 8 23 (57)
Extraordinary item (36) (95) ———
Cumulative effect of change in accounting ——(355) ——
Net (loss) earnings $ (1,046) $ (519) $ 382 $ 1,001 $ 1,300
Earnings (Loss) Per Common Share
Basic:
From continuing operations before extraordinary item
and cumulative effect of change in accounting $ 0.18 $ (0.95) $ 1.91 $ 2.60 $ (1.41)
Discontinued operations (2.55) (0.10) 0.02 0.06 (0.15)
Extraordinary item (0.08) (0.24) ———
Cumulative effect of change in accounting ——(0.93) ——
$ (2.45) $ (1.29) $ 1.00 $ 2.66 $ (1.56)
Diluted:
From continuing operations before extraordinary item
and cumulative effect of change in accounting $ 0.18 $ (0.95) $ 1.90 $ 2.57 $ (1.41)
Discontinued operations (2.52) (0.10) 0.02 0.06 (0.15)
Extraordinary item (0.08) (0.24) ———
Cumulative effect of change in accounting ——(0.93) ——
$ (2.42) $ (1.29) $ 0.99 $ 2.63 $ (1.56)
Cash dividends $ 0.44 $ 0.44 $ 0.88 $ 0.82 $ 0.80
Condensed Balance Sheet Data
Current assets $10,778 $13,339 $11,080 $10,706 $10,218
Property, plant and equipment 2,991 2,941 3,361 3,489 3,653
Intangible assets related to contracts and programs acquired 939 1,073 1,259 1,418 1,566
Goodwill 7,371 7,479 9,152 9,521 9,856
Other assets 5,575 5,594 5,409 3,610 3,068
Total $27,654 $30,426 $30,261 $28,744 $28,361
Short-term borrowings $— $ 12 $ 475 $ 1,043 $ 494
Current maturities of long-term debt 89 882 52 886 876
Other current liabilities 9,600 9,408 8,298 8,338 7,819
Long-term debt 7,422 9,065 11,427 8,957 10,528
Post-retirement benefit liabilities 1,565 1,647 1,805 1,903 1,993
Other liabilities 2,535 2,252 1,843 1,480 1,475
Stockholders’ equity 6,443 7,160 6,361 6,137 5,176
Total $27,654 $30,426 $30,261 $28,744 $28,361
Common shares outstanding at year end 441.2 431.4 397.8 393.3 388.8