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

	Jun 29, 2025	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	1,293)	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	3,306)	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	14,896)	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	3,699)	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	794)	698)	584)	461)	510)	583)	632)	449)	481)	461)	533)	600)	613)	706)	688)	763)	774)	941)	1,150)	544)	538)	614)
Current assets	23,988)	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	8,670)	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	11,309)	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	2,013)	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	4,070)	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	8,820)	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	34,882)	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	58,870)	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 quarterly financial data reflect notable fluctuations and trends across key asset categories over the observed periods.

Cash and Cash Equivalents: The cash position shows significant variability, peaking during mid-year quarters of 2023 with values around US$3,500 million to US$3,600 million, followed by sharp declines reaching lows near US$1,200 million to US$1,800 million in late 2023 and mid-2025. This volatility suggests active liquidity management or timing of cash inflows and outflows.
Receivables, Net: Receivables exhibit considerable oscillations without a clear upward or downward trend, with peaks observed around mid-2022 and mid-2023, approaching US$3,400 million. Lows fall near US$1,900 million to US$2,000 million, indicating fluctuations in credit sales or collections cycles.
Contract Assets: Contract assets have generally trended upward from early 2020 through subsequent years, rising from about US$10,000 million to nearly US$15,000 million in the latest quarters, with some intermittent declines. This suggests progressive recognition of earned revenue not yet billable, perhaps reflecting growth in long-term contracts or timing differences in revenue recognition.
Inventories: Inventory levels have shown moderate fluctuations but largely remain within the US$3,000 million to US$3,600 million range. Recent quarters indicate a slight increase compared to early periods, possibly reflecting inventory build-up or slower turnover in certain periods.
Other Current Assets: This category varies notably, with a relative peak near US$1,150 million in December 2020, followed by general declines and some recovery later, fluctuating between approximately US$460 million and US$790 million in the more recent quarters. Such variation may indicate changes in prepaid expenses or other miscellaneous current asset balances.
Current Assets: Total current assets have experienced gradual growth, progressing from near US$19,200 million to a peak exceeding US$24,000 million before slight contractions. This overall increase aligns with expansions in contracted assets and cash positions during specific intervals.
Property, Plant and Equipment, Net: The net value of property, plant, and equipment shows a steady upward trend from approximately US$6,600 million to about US$8,700 million across the periods, reflecting ongoing capital investments or asset acquisitions.
Goodwill: Goodwill balances remain relatively stable, centered around US$10,800 million with minor fluctuations, suggesting few large acquisitions or impairments during the timeframe.
Intangible Assets, Net: Intangible assets have been declining steadily from roughly US$3,140 million down to around US$2,000 million, indicating amortization of intangibles or possible asset disposals.
Deferred Income Taxes: Deferred income taxes fluctuate between US$2,200 million and nearly US$4,900 million. The values increased significantly in some mid-year quarters, hinting at timing differences in tax recognition or changes in tax positions.
Other Noncurrent Assets: Other noncurrent assets have shown consistent growth from about US$6,500 million to over US$8,800 million, which may represent increases in long-term investments, deposits, or other assets.
Noncurrent Assets: Total noncurrent assets remain mostly steady with a minor upward trend, rising from just over US$30,000 million to nearly US$35,000 million, propelled by gains in property, plant and equipment and other noncurrent items despite declines in intangible assets.
Total Assets: Total assets demonstrate moderate growth from roughly US$49,200 million to nearly US$58,900 million, indicating an overall expansion in the asset base over the periods.

In summary, the data reveal a company managing significant asset growth, particularly in contract-related assets and fixed assets, while experiencing notable volatility in cash and receivables. The decline in intangible assets balanced by increases in goodwill and other noncurrent assets reflects typical asset lifecycle characteristics. Overall, the trends suggest active investment and contract activity alongside dynamic working capital management.

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