Lockheed Martin 2011 Annual Report Download - page 71

Download and view the complete annual report

Please find page 71 of the 2011 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 110

  • 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
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110

Selected Financial Data by Business Segment (continued)
(a) Operating profit included equity in net earnings (losses) of equity investees as follows:
(In millions) 2011 2010 2009
Aeronautics $7 $7 $9
Electronic Systems 64 50 53
Space Systems 227 259 218
Total business segments 298 316 280
Corporate activities 34 (4) (2)
Total $332 $312 $278
(b) Severance and other charges include the severance charges recorded in 2011 associated with Aeronautics, IS&GS, and Space Systems
business segments, and Corporate Headquarters, and for 2010, included the charges related to the VESP and facilities consolidation
within Electronic Systems (Note 2).
(c) Other unallocated corporate expense, net included the following:
(In millions) 2011 2010 2009
Non-cash FAS/CAS pension adjustment $ (922) $(454) $(456)
Stock-based compensation and other, net (243) (305) (233)
Total $(1,165) $(759) $(689)
Net Sales by Customer Category
(In millions) 2011 2010 2009
U.S. Government
Aeronautics $10,749 $10,623 $ 9,966
Electronic Systems 10,662 10,749 9,864
Information Systems & Global Solutions 8,769 9,488 9,156
Space Systems 7,821 8,000 8,401
Total $38,001 $38,860 $37,387
International (a)
Aeronautics $ 3,577 $ 2,458 $ 1,973
Electronic Systems 3,883 3,562 3,664
Information Systems & Global Solutions 464 320 267
Space Systems 144 97 241
Total $ 8,068 $ 6,437 $ 6,145
U.S. Commercial and Other
Aeronautics $36 $28 $49
Electronic Systems 77 88 102
Information Systems & Global Solutions 148 113 176
Space Systems 169 145 8
Total $ 430 $ 374 $ 335
Total net sales $46,499 $45,671 $43,867
(a) Sales made to foreign governments through the U.S. Government (i.e., foreign military sales) are included in the “International”
category.
Our Aeronautics business segment includes our largest program, the F-35 Lightning II Joint Strike Fighter, an
international multi-role, stealth fighter. F-35 program related net sales represented approximately 13%, 12%, and 10% of our
total net sales during 2011, 2010, and 2009.
63