Lockheed Martin 2004 Annual Report Download - page 2

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Lockheed Martin Corporation 2004 Financial Highlights1
(In millions, except per share data) 2004 2003 2002
Net sales $35,526 $31,824 $26,578
Operating profi t from business segments 2,976 2,468 2,020
Consolidated operating profi t 2,089 2,019 1,158
Net earnings 1,266 1,053 500
Earnings per diluted share 2.83 2.34 1.11
Average diluted common shares outstanding 447.1 450.0 452.0
Net cash provided by operating activities $ 2,924 $ 1,809 $ 2,288
Cash dividends per common share 0.91 0.58 0.44
Cash, cash equivalents and short-term investments 1,456 1,250 2,738
Total assets 25,554 26,175 26,979
Total debt 5,119 6,208 7,582
Stockholders’ equity 7,021 6,756 5,865
Debt-to-total-capital ratio 42% 48% 56%
Return on invested capital2 11.9% 10.7% 6.1%
NOTES: 1For a discussion of matters affecting the comparability of the information presented above, refer to Management’s Discussion and Analysis
of Financial Condition and Results of Operations on pages 17 through 38 of this Annual Report.
2For additional information concerning return on invested capital, including its defi nition, use and method of calculation, see Consolidated
Financial Data — Five Year Summary on page 69 of this Annual Report.