Lockheed Martin 2007 Annual Report Download - page 66

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We performed an evaluation of the effectiveness of our disclosure controls and procedures, including internal control
over financial reporting, as of December 31, 2007. The evaluation was performed with the participation of senior
management of each business segment and key Corporate functions, and under the supervision of the CEO and CFO. Based
on our evaluation, we concluded that our disclosure controls and procedures were effective as of December 31, 2007.
During 2007, we also performed a separate evaluation of our internal control over financial reporting in accordance with
Section 404 of the Sarbanes-Oxley Act, including performing self-assessment and monitoring procedures. Based on those
activities and other evaluation procedures, our management, including the CEO and CFO, concluded that internal control
over financial reporting was effective as of December 31, 2007. Management’s report on our financial statements and
internal control over financial reporting appears on page 59. In addition, the effectiveness of our internal control over
financial reporting was audited by our independent registered public accounting firm. Their report appears on page 60.
There were no changes in our internal control over financial reporting during the most recently completed fiscal quarter
that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
See Management’s Discussion and Analysis of Financial Condition and Results of Operations under the caption
“Quantitative and Qualitative Disclosure of Market Risk” beginning on page 56, and under the caption “Derivative financial
instruments” in Note 1 – Significant Accounting Policies on page 69 of this Form 10-K.
58