Lockheed Martin 2002 Annual Report Download - page 46

Download and view the complete annual report

Please find page 46 of the 2002 Lockheed Martin annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 79

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79

FIFTY-THREE
Lockheed Martin Corporation
CONSOLIDATED BALANCE SHEET
December 31,
(In millions) 2002 2001
ASSETS
Current assets:
Cash and cash equivalents $ 2,738 $ 912
Receivables 3,655 4,049
Inventories 2,250 3,140
Deferred income taxes 1,277 1,566
Assets of businesses held for sale 210 638
Other current assets 496 473
Total current assets 10,626 10,778
Property, plant and equipment, net 3,258 2,991
Investments in equity securities 1,009 1,884
Intangible assets related to contracts and programs acquired 814 939
Goodwill 7,380 7,371
Prepaid pension cost —2,081
Other assets 2,671 1,610
$25,758 $27,654
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 1,102 $ 1,419
Customer advances and amounts in excess of costs incurred 4,542 5,002
Salaries, benefits and payroll taxes 1,272 1,100
Income taxes 107 63
Current maturities of long-term debt 1,365 89
Liabilities of businesses held for sale 122 387
Other current liabilities 1,311 1,629
Total current liabilities 9,821 9,689
Long-term debt 6,217 7,422
Post-retirement benefit liabilities 1,480 1,565
Pension liabilities 651 —
Deferred income taxes —992
Other liabilities 1,724 1,543
Stockholders’ equity:
Common stock, $1 par value per share 455 441
Additional paid-in capital 2,796 2,142
Retained earnings 4,262 3,961
Unearned ESOP shares (50) (84)
Accumulated other comprehensive loss (1,598) (17)
Total stockholders’ equity 5,865 6,443
$25,758 $27,654
See accompanying Notes to Consolidated Financial Statements.