Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Lockheed Martin Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	1,442)	2,547)	3,604)	3,160)	1,514)
Receivables, net	2,132)	2,505)	1,963)	1,978)	2,337)
Contract assets	13,183)	12,318)	10,579)	9,545)	9,094)
Inventories	3,132)	3,088)	2,981)	3,545)	3,619)
Other current assets	632)	533)	688)	1,150)	531)
Current assets	20,521)	20,991)	19,815)	19,378)	17,095)
Property, plant and equipment, net	8,370)	7,975)	7,597)	7,213)	6,591)
Goodwill	10,799)	10,780)	10,813)	10,806)	10,604)
Intangible assets, net	2,212)	2,459)	2,706)	3,012)	3,213)
Deferred income taxes	2,953)	3,744)	2,290)	3,475)	3,319)
Other noncurrent assets	7,601)	6,931)	7,652)	6,826)	6,706)
Noncurrent assets	31,935)	31,889)	31,058)	31,332)	30,433)
Total assets	52,456)	52,880)	50,873)	50,710)	47,528)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Assets: Selected Items

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Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Lockheed Martin Corp. current assets increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Property, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Lockheed Martin Corp. property, plant and equipment, net increased from 2021 to 2022 and from 2022 to 2023.
Noncurrent assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	Lockheed Martin Corp. noncurrent assets increased from 2021 to 2022 and from 2022 to 2023.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Lockheed Martin Corp. total assets increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Lockheed Martin Corp. cash and cash equivalents decreased from 2021 to 2022 and from 2022 to 2023.
Receivables, net	The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value.	Lockheed Martin Corp. receivables, net increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	Lockheed Martin Corp. inventories increased from 2021 to 2022 and from 2022 to 2023.

Lockheed Martin Corp. (NYSE:LMT)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items