Lockheed Martin 2013 Annual Report Download - page 78

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Selected Financial Data by Business Segment (continued)
Total assets, goodwill, and customer advances and amounts in excess of costs incurred for each of our business segments
were as follows (in millions):
2013 2012
Assets (a)
Aeronautics $ 5,821 $ 6,525
Information Systems & Global Solutions 5,798 5,664
Missiles and Fire Control 4,159 4,186
Mission Systems and Training 6,512 6,589
Space Systems 3,522 3,478
Total business segment assets 25,812 26,442
Corporate assets (b) 10,376 12,215
Total assets $36,188 $38,657
Goodwill
Aeronautics $ 146 $ 146
Information Systems & Global Solutions 3,942 3,767
Missiles and Fire Control 2,288 2,485
Mission Systems and Training 3,264 3,264
Space Systems 708 708
Total goodwill (c) $10,348 $10,370
Customer advances and amounts in excess of costs incurred
Aeronautics $ 2,433 $ 2,382
Information Systems & Global Solutions 322 323
Missiles and Fire Control 1,942 1,988
Mission Systems and Training 1,188 1,335
Space Systems 464 475
Total customer advances and amounts in excess of costs incurred $ 6,349 $ 6,503
(a) We have no significant long-lived assets located in foreign countries.
(b) Corporate assets primarily include cash and cash equivalents, deferred income taxes, environmental receivables, and investments held
in a separate trust.
(c) During 2013, the decrease in goodwill primarily was due to a non-cash impairment charge of $195 million, net of state tax benefits,
related to our MFC business segment (Note 1), partially offset by the acquisition of Amor Group at our IS&GS business segment
(Note 14). During 2012, goodwill increased $222 million primarily due to the acquisitions of Chandler/May, Inc. (Chandler/May),
CDL Systems Ltd. (CDL), and Procerus Technologies, L.C. (Procerus) at our MST business segment (Note 14).
Note 5 – Receivables, net
Receivables, net consisted of the following (in millions):
2013 2012
U.S. Government
Amounts billed $ 1,275 $ 1,088
Unbilled costs and accrued profits 4,767 5,630
Less: customer advances and progress payments (1,008) (1,048)
Total U.S. Government receivables, net 5,034 5,670
Other governments and commercial
Amounts billed 391 376
Unbilled costs and accrued profits 600 789
Less: customer advances (191) (272)
Total other governments and commercial receivables, net 800 893
Total receivables, net $ 5,834 $ 6,563
We expect to bill substantially all of the December 31, 2013 unbilled costs and accrued profits during 2014.
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