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Analysis of Revenues

Difficulty: Advanced


Revenue Recognition Accounting Policy

The majority of Lockheed Martin’s net sales are generated from long-term contracts with the U.S. Government and international customers (including foreign military sales (FMS) contracted through the U.S. Government) for the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Lockheed Martin provides the products and services under fixed-price and cost-reimbursable contracts.

Source: 10-K (filing date: 2019-02-08).


Revenues as Reported

Lockheed Martin Corp., Income Statement, Revenues

USD $ in millions

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12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Aeronautics hidden hidden hidden hidden hidden
Information Systems & Global Solutions (IS&GS) hidden hidden hidden hidden hidden
Missiles and Fire Control (MFC) hidden hidden hidden hidden hidden
Rotary and Mission Systems (RMS) hidden hidden hidden hidden hidden
Space hidden hidden hidden hidden hidden
Net sales hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-06), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-24), 10-K (filing date: 2015-02-09).

Item Description The company
Net sales Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Lockheed Martin Corp.’s net sales increased from 2016 to 2017 and from 2017 to 2018.