Lockheed Martin 2001 Annual Report Download - page 63

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Lockheed Martin Corporation
December 31, 2001 (Continued)
CONSOLIDATED FINANCIAL DATA—FIVE YEAR SUMMARY
Notes to Five Year Summary
(a) Includes the effects of nonrecurring and unusual items which, on a combined basis, decreased earnings from continuing operations
before income taxes by $918 million, $615 million after tax ($1.42 per diluted share). Also includes a nonrecurring and unusual
gain from the disposal of a business and charges for the Corporation’s exit from its global telecommunications services business
which is included in discontinued operations and which, on a combined basis, increased the net loss by $1 billion ($2.38 per
diluted share). Includes an extraordinary loss on the early extinguishment of debt which resulted in a nonrecurring and unusual
charge that increased the net loss by $36 million ($0.08 per diluted share).
(b) Reflects the business combination with COMSAT Corporation effective August 2000. Includes the effects of nonrecurring and unusual
items which, on a combined basis, decreased earnings from continuing operations before income taxes by $539 million, $856 mil-
lion after tax ($2.12 per diluted share). Also includes an extraordinary loss on the early extinguishment of debt which resulted in
a nonrecurring and unusual charge that increased the net loss by $95 million ($0.24 per diluted share).
(c) Includes the effects of nonrecurring and unusual items which, on a combined basis, increased earnings from continuing operations
before income taxes by $249 million, $162 million after tax ($0.42 per diluted share). Also includes a cumulative effect adjustment
relating to the adoption of SOP No. 98-5 regarding costs for start-up activities which resulted in a nonrecurring and unusual charge
that reduced net earnings by $355 million ($0.93 per diluted share).
(d) Includes the effects of nonrecurring and unusual items which, on a combined basis, decreased net earnings by $162 million, $136 mil-
lion after tax ($0.36 per diluted share).
(e) Includes the effects of a nonrecurring and unusual tax-free gain of $311 million and the aggregate effects of other nonrecurring and
unusual items which decreased net earnings by $369 million, $245 million after tax. On a combined basis, these items decreased
diluted loss per share by $0.15. The loss per share also includes the effects of a deemed preferred stock dividend resulting from a
transaction with GE which reduced the basic and diluted per share amounts by $4.93.
Lockheed Martin Annual Report >>> 70