Lockheed Martin 2005 Annual Report Download - page 2

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2005 Financial Highlights1
(In millions, except per share data and ratios) 2005 2004 2003
Net sales $ 37,213 $ 35,526 $ 31,824
Operating profit from business segments 3,432 2,976 2,468
Consolidated operating profit 2,986 2,089 2,019
Net earnings 1,825 1,266 1,053
Earnings per diluted share 4.10 2.83 2.34
Average diluted common shares outstanding 445.7 447.1 450.0
Net cash provided by operating activities $ 3,194 $ 2,924 $ 1,809
Cash dividends per common share 1.05 0.91 0.58
Cash, cash equivalents and short-term investments 2,673 1,456 1,250
Total assets 27,744 25,554 26,175
Total debt 4,986 5,119 6,208
Stockholders’ equity $ 7,867 $ 7,021 $ 6,756
Common shares outstanding at year-end 432 438 446
Debt-to-total-capital ratio 39% 42% 48%
Return on invested capital214.5% 10.8% 9.6%
NOTES:
1 For 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 40 of this Annual Report.
2 For additional information concerning return on invested capital, including its definition, use and revised method of calculation, see Note (f) to the
Consolidated Financial Data—Five Year Summary on page 74 of this Annual Report.
On the Cover: Lockheed Martin’s Center for Innovation: Defining the Networked World, Delivering the Future