Lockheed Martin 2007 Annual Report Download - page 70

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Lockheed Martin Corporation
Consolidated Statement of Earnings
Year ended December 31,
(In millions, except per share data) 2007 2006 2005
Net sales
Products $35,267 $33,863 $31,518
Services 6,595 5,757 5,695
41,862 39,620 37,213
Cost of sales
Products 31,479 30,572 28,800
Services 5,874 5,118 5,073
Unallocated Corporate costs 275 496 803
37,628 36,186 34,676
4,234 3,434 2,537
Other income (expense), net 293 336 316
Operating profit 4,527 3,770 2,853
Interest expense 352 361 370
Other non-operating income (expense), net 193 183 133
Earnings before income taxes 4,368 3,592 2,616
Income tax expense 1,335 1,063 791
Net earnings $ 3,033 $ 2,529 $ 1,825
Earnings per common share
Basic $ 7.29 $ 5.91 $ 4.15
Diluted $ 7.10 $ 5.80 $ 4.10
See accompanying Notes to Consolidated Financial Statements.
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