Lockheed Martin 2008 Annual Report Download - page 39

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ITEM 6. SELECTED FINANCIAL DATA
Consolidated Financial Data - Five Year Summary
(In millions, except per share data and ratios) 2008 (a) 2007 (b) 2006 (c) 2005 (d) 2004 (e)
OPERATING RESULTS
Net Sales $42,731 $41,862 $39,620 $37,213 $ 35,526
Cost of Sales 38,082 37,628 36,186 34,676 33,558
4,649 4,234 3,434 2,537 1,968
Other Income (Expense), Net 482 293 336 316 171
Operating Profit 5,131 4,527 3,770 2,853 2,139
Interest Expense 341 352 361 370 425
Other Non-Operating Income (Expense), Net (88) 193 183 133 (50)
Earnings Before Income Taxes 4,702 4,368 3,592 2,616 1,664
Income Tax Expense 1,485 1,335 1,063 791 398
Net Earnings $ 3,217 $ 3,033 $ 2,529 $ 1,825 $ 1,266
EARNINGS PER COMMON SHARE
Basic $ 8.05 $ 7.29 $ 5.91 $ 4.15 $ 2.86
Diluted $ 7.86 $ 7.10 $ 5.80 $ 4.10 $ 2.83
CASH DIVIDENDS PER COMMON SHARE $ 1.83 $ 1.47 $ 1.25 $ 1.05 $ 0.91
CONDENSED BALANCE SHEET DATA
Cash and Cash Equivalents $ 2,168 $ 2,648 $ 1,912 $ 2,244 $ 1,060
Short-Term Investments 61 333 381 429 396
Other Current Assets 8,454 7,959 7,871 7,856 7,497
Property, Plant and Equipment, Net 4,488 4,320 4,056 3,924 3,599
Goodwill 9,526 9,387 9,250 8,447 7,892
Purchased Intangibles, Net 355 463 605 560 672
Prepaid Pension Asset 122 313 235 1,360 1,030
Other Assets 8,265 3,503 3,921 2,924 3,408
$33,439 $28,926 $28,231 $27,744 $ 25,554
Current Maturities of Long-Term Debt $ 242 $ 104 $ 34 $ 202 $ 15
Other Current Liabilities (f) 10,300 9,933 9,661 9,340 8,621
Long-Term Debt, Net 3,563 4,303 4,405 4,784 5,104
Accrued Pension Liabilities 12,004 1,192 3,025 2,097 1,660
Other Postretirement Benefit Liabilities 1,386 928 1,496 1,277 1,236
Other Liabilities (f) 3,079 2,661 2,726 2,177 1,897
Stockholders’ Equity 2,865 9,805 6,884 7,867 7,021
Total $33,439 $28,926 $28,231 $27,744 $ 25,554
COMMON SHARES AT YEAR-END 393 409 421 432 438
CASH FLOW DATA
Cash Provided by Operating Activities (g) $ 4,421 $ 4,238 $ 3,765 $ 3,204 $ 2,921
Cash Used for Investing Activities (907) (1,205) (1,655) (499) (708)
Cash Used for Financing Activities (3,938) (2,300) (2,460) (1,511) (2,166)
RETURN ON INVESTED CAPITAL (h) 21.7% 21.4% 19.2% 14.5% 10.8%
NEGOTIATED BACKLOG $80,914 $76,660 $75,905 $74,825 $ 73,986
Notes to Five Year Summary
(a) Includes the effects of items not considered in the assessment of the operating performance of our business segments (see the section,
“Results of Operations – Unallocated Corporate Income (Expense), Net” in Management’s Discussion and Analysis of Financial
Condition and Results of Operations (MD&A)) which increased operating profit by $193 million, $126 million after tax ($0.31 per
share).
(b) Includes the effects of items not considered in the assessment of the operating performance of our business segments which increased
operating profit by $71 million, $46 million after tax ($0.11 per share). Also includes a reduction in income tax expense of $59 million
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