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.
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Lockheed Martin Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-24), 10-Q (reporting date: 2023-06-25), 10-Q (reporting date: 2023-03-26), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-25), 10-Q (reporting date: 2022-06-26), 10-Q (reporting date: 2022-03-27), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-26), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).
The analysis of the quarterly financial data reveals several notable trends across various balance sheet components over the periods presented.
- Cash and cash equivalents
- This item exhibits significant volatility. Initially, cash increased from approximately 1.99 billion to over 3.58 billion in 2020. However, there was a sharp decrease in early 2024, dropping to as low as 1.44 billion, followed by some recovery and fluctuations thereafter. This instability may reflect periods of liquidity management or investment activities.
- Receivables, net
- Net receivables demonstrated a pattern of fluctuations around a generally moderate level, with values oscillating between approximately 1.96 billion and 3.4 billion. These variations suggest changes in credit management or sales activity impacting the collection cycle.
- Contract assets
- There is a clear upward trend in contract assets, rising from about 10.2 billion in early 2020 to a peak surpassing 14.9 billion in mid-2025. This steady increase indicates growth in contracts in progress, which may point to expanding business operations or longer contract fulfillment periods.
- Inventories
- Inventory levels remained relatively stable with minor fluctuations around the 3 billion to 3.5 billion range. There is a slight upward trajectory in the later quarters of the timeline, suggesting moderate buildup potentially in anticipation of increased demand or production scaling.
- Other current assets and current assets
- Other current assets showed modest variability but remained under 1 billion. Current assets overall increased gradually, growing from approximately 19.2 billion to over 25.9 billion by the end of the reported period, reflecting broad strengthening of liquidity positions or asset accumulation.
- Property, plant and equipment, net
- Net property, plant and equipment displayed a slow but consistent increase from around 6.6 billion to approximately 8.7 billion. This steady growth indicates ongoing investments in fixed assets to support operational capacity.
- Goodwill
- Goodwill remained largely stable, fluctuating marginally in a narrow range near 10.5 to 11.3 billion. This stability suggests limited acquisitions or adjustments impacting goodwill during the period.
- Intangible assets, net
- A gradual decline in intangible assets is noted, decreasing from about 3.1 billion to under 2 billion. This trend might reflect amortization expenses or impairment of certain intangible items.
- Deferred income taxes
- Deferred income taxes showed considerable variability, initially fluctuating around 3.1 to 4.9 billion with a dip in early 2024 then rising again. These changes could be due to timing differences between financial earnings and tax obligations or tax planning strategies.
- Other noncurrent assets and noncurrent assets
- Other noncurrent assets exhibit a gradual increase from roughly 6.5 billion to near 8.9 billion. Consequently, total noncurrent assets rose steadily from about 30 billion to the range of 34 billion, consistent with longer-term asset accumulation supporting the business infrastructure.
- Total assets
- Total assets demonstrate an overall growth trend, increasing from approximately 49.2 billion to over 60.2 billion. Despite some fluctuations, this upward movement indicates an expansion of the company's asset base over the entire period, which generally signals growth and increased operational scale.