Lockheed Martin 2003 Annual Report Download - page 68

Lockheed Martin Corporation
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003
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missile systems include airborne and missile defense tech-
nologies and fleet ballistic missiles. Launch services
include launches on Titan, Atlas and Proton launch vehi-
cles, and also include the Space Shuttle’s external tank. In
addition, the segment has investments in joint ventures that
are principally engaged in businesses that complement and
enhance other activities of the segment.
•Integrated Systems & Solutions — Engaged in the design,
research, development, integration and management of
net-centric solutions supporting command, control, com-
munications, computers, intelligence, reconnaissance and
surveillance (C4ISR) activities of the U.S. Department of
Defense (DoD), intelligence agencies, other federal agen-
cies and allied countries; provides technology, full life
cycle support and highly specialized talent in the areas of
software and systems engineering, including expertise in
space, air and ground systems; serves as the Corporation’s
focal point for customers with joint and net-centric opera-
tions requiring overarching architectures, horizontal sys-
tems integration and inter-connected capabilities for the
gathering, processing, storage and delivery of on-demand
information for mission management, modeling, simula-
tion and large-scale systems integration.
•Information & Technology Services — Engaged in a wide
array of information technology (IT), IT-related, and other
technology services to federal agencies and other cus-
tomers. Major product lines include: information technology
integration and management; enterprise solutions, applica-
tion development, maintenance and consulting for strategic
programs for the DoD and civil government agencies; air-
craft and engine maintenance and modification services;
management, operation, maintenance, training, and logistics
support for military, homeland security and civilian sys-
tems; launch, mission, and analysis services for military,
classified and commercial satellites; engineering, science
and information services for NASA; and research, devel-
opment, engineering and science in support of nuclear
weapons stewardship and naval reactor programs.
Consistent with the requirements of FAS 131, “Disclosures
about Segments of an Enterprise and Related Information,” the
following tables of financial data have been adjusted to reflect
the changes in the business segments as noted above. This did
not result in any changes to the historical operating results in
total for the Corporation.
Selected Financial Data by Business Segment
(In millions) 2003 2002 2001
NET SALES
Aeronautics $ 10,202 $ 6,471 $ 5,355
Electronic Systems 8,991 8,685 8,079
Space Systems 6,021 5,287 4,801
Integrated Systems & Solutions 3,420 3,015 2,970
Information & Technology Services 3,174 3,104 2,763
Total business segments 31,808 26,562 23,968
Other 16 16 22
$ 31,824 $26,578 $ 23,990
OPERATING PROFIT(a)
Aeronautics $ 690 $ 448 $ 329
Electronic Systems 858 875 816
Space Systems 403 279 225
Integrated Systems & Solutions 291 241 225
Information & Technology Services 226 177 114
Total business segments 2,468 2,020 1,709
Unallocated Corporate expense, net(b) (449) (862) (602)
Impact of FAS 142 adoption ——(274)
$ 2,019 $ 1,158 $ 833
INTERSEGMENT REVENUE
Aeronautics $41$28$ 52
Electronic Systems 550 338 221
Space Systems 134 147 67
Integrated Systems & Solutions 471 272 174
Information & Technology Services 765 707 814
Total business segments 1,961 1,492 1,328
Other 83 75 77
$ 2,044 $ 1,567 $ 1,405
DEPRECIATION AND
AMORTIZATION OF PROPERTY,
PLANT AND EQUIPMENT
Aeronautics $89$74$ 84
Electronic Systems 160 153 142
Space Systems 120 108 123
Integrated Systems & Solutions 29 34 31
Information & Technology Services 42 36 22
Total business segments 440 405 402
Other 40 28 23
$ 480 $ 433 $ 425