Lockheed Martin 2004 Annual Report Download - page 71

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69
Lockheed Martin Corporation
CONSOLIDATED FINANCIAL DATA — FIVE YEAR SUMMARY
(In millions, except per share data) 2004(a) 2003(b) 2002(c) 2001(d) 2000(e)
OPERATING RESULTS
Net sales $35,526 $31,824 $26,578 $23,990 $24,541
Cost of sales 33,558 29,848 24,629 22,447 22,881
1,968 1,976 1,949 1,543 1,660
Other income and expenses, net 121 43 (791) (710) (555)
Operating profit 2,089 2,019 1,158 833 1,105
Interest expense 425 487 581 700 919
Earnings from continuing operations before
income taxes 1,664 1,532 577 133 186
Income tax expense 398 479 44 90 663
Earnings (loss) from continuing operations 1,266 1,053 533 43 (477)
Loss from discontinued operations —— (33) (1,089) (42)
Net earnings (loss) $ 1,266 $ 1,053 $ 500 $ (1,046) $ (519)
EARNINGS (LOSS) PER COMMON SHARE
Basic:
Continuing operations $ 2.86 $ 2.36 $ 1.20 $ 0.10 $ (1.19)
Discontinued operations —— (0.07) (2.55) (0.10)
$ 2.86 $ 2.36 $ 1.13 $ (2.45) $ (1.29)
Diluted:
Continuing operations $ 2.83 $ 2.34 $ 1.18 $ 0.10 $ (1.19)
Discontinued operations —— (0.07) (2.52) (0.10)
$ 2.83 $ 2.34 $ 1.11 $ (2.42) $ (1.29)
CASH DIVIDENDS $ 0.91 $ 0.58 $ 0.44 $ 0.44 $ 0.44
CONDENSED BALANCE SHEET DATA
Current assets $ 8,953 $ 9,401 $10,626 $10,778 $13,339
Property, plant and equipment, net 3,599 3,489 3,258 2,991 2,941
Goodwill 7,892 7,879 7,380 7,371 7,479
Purchased intangibles, net 672 807 814 939 1,073
Other assets 4,438 4,599 4,901 5,635 5,594
Total $25,554 $26,175 $26,979 $27,714 $30,426
Current maturities of long-term debt $15 $ 136 $ 1,365 $ 89 $ 882
Other current liabilities 8,551 8,757 8,456 9,600 9,420
Long-term debt 5,104 6,072 6,217 7,422 9,065
Other post-retirement benefit liabilities 1,236 1,440 1,480 1,565 1,647
Other liabilities 3,627 3,014 3,596 2,595 2,252
Stockholders’ equity 7,021 6,756 5,865 6,443 7,160
Total $25,554 $26,175 $26,979 $27,714 $30,426
COMMON SHARES AT YEAR-END 438 446 455 441 431
RETURN ON INVESTED CAPITAL(f) 11.9% 10.7% 6.1% (3.7)% 0.4%
CASH FLOW DATA
Cash provided by operating activities $ 2,924 $ 1,809 $ 2,288 $ 1,825 $ 2,016
Cash (used for) provided by investing activities (708) (1,461) (539) 139 1,762
Cash (used for) provided by financing activities (2,166) (2,076) 77 (2,557) (2,728)
NEGOTIATED BACKLOG $73,986 $76,899 $70,385 $71,269 $55,076