Balance Sheet: Assets
Quarterly Data

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 (quarterly data)

US$ in millions

	Mar 30, 2025	Dec 31, 2024	Sep 29, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 24, 2023	Jun 25, 2023	Mar 26, 2023	Dec 31, 2022	Sep 25, 2022	Jun 26, 2022	Mar 27, 2022	Dec 31, 2021	Sep 26, 2021	Jun 27, 2021	Mar 28, 2021	Dec 31, 2020	Sep 27, 2020	Jun 28, 2020	Mar 29, 2020
Cash and cash equivalents	1,803)	2,483)	3,151)	2,523)	2,790)	1,442)	3,551)	3,673)	2,440)	2,547)	2,430)	1,775)	1,883)	3,604)	2,727)	2,745)	2,933)	3,160)	3,585)	2,855)	1,988)
Receivables, net	2,024)	2,351)	2,141)	2,930)	2,257)	2,132)	2,405)	3,427)	2,583)	2,505)	2,484)	3,401)	2,527)	1,963)	2,267)	2,611)	2,214)	1,978)	2,480)	2,835)	2,892)
Contract assets	14,677)	12,957)	14,224)	13,907)	14,050)	13,183)	13,605)	13,008)	13,189)	12,318)	12,333)	11,753)	12,130)	10,579)	12,697)	11,425)	10,908)	9,545)	10,388)	9,821)	10,189)
Inventories	3,599)	3,474)	3,234)	3,097)	3,278)	3,132)	3,312)	3,498)	3,471)	3,088)	3,113)	3,431)	3,144)	2,981)	2,903)	3,119)	3,256)	3,545)	3,293)	3,521)	3,539)
Other current assets	698)	584)	461)	510)	583)	632)	449)	481)	461)	533)	600)	613)	706)	688)	763)	774)	941)	1,150)	544)	538)	614)
Current assets	22,801)	21,849)	23,211)	22,967)	22,958)	20,521)	23,322)	24,087)	22,144)	20,991)	20,960)	20,973)	20,390)	19,815)	21,357)	20,674)	20,252)	19,378)	20,290)	19,570)	19,222)
Property, plant and equipment, net	8,713)	8,726)	8,454)	8,394)	8,354)	8,370)	8,046)	7,966)	7,938)	7,975)	7,629)	7,569)	7,561)	7,597)	7,332)	7,290)	7,213)	7,213)	6,803)	6,663)	6,605)
Goodwill	11,076)	11,067)	10,800)	10,787)	10,789)	10,799)	10,782)	10,795)	10,776)	10,780)	10,764)	10,794)	10,811)	10,813)	10,815)	10,810)	10,799)	10,806)	10,589)	10,579)	10,565)
Intangible assets, net	1,952)	2,015)	1,979)	2,040)	2,151)	2,212)	2,274)	2,336)	2,397)	2,459)	2,521)	2,584)	2,644)	2,706)	2,768)	2,849)	2,930)	3,012)	3,013)	3,077)	3,142)
Deferred income taxes	3,568)	3,557)	3,105)	3,080)	3,024)	2,953)	4,873)	4,518)	4,175)	3,744)	3,116)	2,680)	2,688)	2,290)	2,664)	3,377)	3,375)	3,475)	3,198)	3,127)	3,164)
Other noncurrent assets	8,559)	8,403)	7,971)	7,808)	7,687)	7,601)	7,369)	7,276)	7,192)	6,931)	7,040)	7,158)	7,416)	7,652)	6,907)	7,099)	6,868)	6,826)	6,880)	6,587)	6,550)
Noncurrent assets	33,868)	33,768)	32,309)	32,109)	32,005)	31,935)	33,344)	32,891)	32,478)	31,889)	31,070)	30,785)	31,120)	31,058)	30,486)	31,425)	31,185)	31,332)	30,483)	30,033)	30,026)
Total assets	56,669)	55,617)	55,520)	55,076)	54,963)	52,456)	56,666)	56,978)	54,622)	52,880)	52,030)	51,758)	51,510)	50,873)	51,843)	52,099)	51,437)	50,710)	50,773)	49,603)	49,248)

The analysis of the presented quarterly financial data reveals several notable trends and fluctuations across various asset categories over the reported periods.

Cash and Cash Equivalents: The cash and cash equivalents exhibit considerable volatility, with peaks notably in December 2021 (3,604 million USD) and June 2023 (3,673 million USD). However, there are significant troughs such as in December 2023 (1,442 million USD) and March 2025 (1,803 million USD). Overall, cash levels fluctuate rather than follow a clear upward or downward trajectory.
Receivables, net: Net receivables show variability across quarters, initially decreasing towards the end of 2020, then increasing substantially around mid-2022 and mid-2023. Peaks in receivables appear in June 2022 (3,401 million USD) and June 2023 (3,427 million USD), with declines following these peaks. This indicates fluctuations possibly linked to changes in sales or contract terms.
Contract Assets: Contract assets demonstrate a generally increasing trend over the timeline, rising from 10,189 million USD in March 2020 to a peak of 14,677 million USD by March 2025, despite minor periodic declines. This consistent growth suggests expanding contract work or recognition of revenue over longer periods.
Inventories: Inventories maintain a somewhat stable pattern with modest fluctuations. The values oscillate between approximately 2,900 million USD and 3,600 million USD. There is no clear strong upward or downward trend, indicating relatively stable inventory management.
Other Current Assets: Other current assets reveal some variability with a notable spike in December 2020 (1,150 million USD), subsequently declining and then experiencing minor fluctuations across later periods, generally remaining below 700 million USD.
Current Assets: Total current assets display a mild upward trend, increasing from 19,222 million USD in March 2020 to a peak of 24,087 million USD in June 2023 before decreasing again. This increase is driven in part by growth in contract assets and fluctuating cash and receivables.
Property, Plant and Equipment (PP&E), Net: PP&E steadily increases overall from 6,605 million USD in March 2020 to 8,713 million USD in March 2025. This gradual rise indicates ongoing investment in fixed assets, despite some minor fluctuations across quarters.
Goodwill: Goodwill remains relatively stable throughout the periods, fluctuating narrowly around approximately 10,800 million USD, with a slight increase to 11,076 million USD by March 2025. This stability suggests an absence of significant impairment or new acquisitions affecting goodwill substantially.
Intangible Assets, Net: Intangible assets follow a clear declining trend from 3,142 million USD in March 2020 down to 1,952 million USD in March 2025. This continual decrease is consistent with amortization or write-downs over time.
Deferred Income Taxes: Deferred income taxes show considerable variability, rising from 3,164 million USD in March 2020 to a peak around December 2022 (4,873 million USD), then decreasing sharply in December 2023 (2,953 million USD) and stabilizing somewhat thereafter. These variations may reflect changes in tax positions or timing differences between accounting and taxable income.
Other Noncurrent Assets: Other noncurrent assets generally trend upward from 6,550 million USD in March 2020 to 8,559 million USD by March 2025, indicating growing long-term asset holdings outside the primary asset categories.
Noncurrent Assets: Total noncurrent assets show an increasing pattern, moving from approximately 30,026 million USD in March 2020 to 33,868 million USD by March 2025, despite minor fluctuations. The increase is driven by growth in PP&E and other noncurrent assets, offset partially by decreases in intangible assets and deferred income taxes.
Total Assets: Total assets present a moderate growth trend, increasing from 49,248 million USD in March 2020 to 56,669 million USD by March 2025. Some volatility is observed in later periods, especially significant dips in December 2023 (52,456 million USD) followed by recovery. The overall growth aligns with increases in both current and noncurrent asset categories.

In summary, the financial data reflects stable asset growth driven mainly by contract assets and investments in fixed and noncurrent assets. Although certain components such as cash, receivables, and deferred taxes show notable fluctuations, the overall asset base of the entity expands moderately over the examined periods.

Assets: Selected Items

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Current Assets: Selected Items

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Lockheed Martin Corp. (NYSE:LMT)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data