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Lockheed Martin Corp. (LMT)
Income Statement
Quarterly Data
Difficulty: Beginner
The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Lockheed Martin Corp., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (filing date: 2019-07-23), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-24), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-06), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-20), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-09), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-20), 10-Q (filing date: 2016-04-27), 10-K (filing date: 2016-02-24), 10-Q (filing date: 2015-10-22), 10-Q (filing date: 2015-07-22), 10-Q (filing date: 2015-04-22), 10-K (filing date: 2015-02-09), 10-Q (filing date: 2014-10-24), 10-Q (filing date: 2014-07-23), 10-Q (filing date: 2014-04-24).
| Income statement item | Description | The company |
|---|---|---|
| Net sales | Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. | Lockheed Martin Corp.’s net sales declined from Q4 2018 to Q1 2019 but then increased from Q1 2019 to Q2 2019 exceeding Q4 2018 level. |
| Operating profit | The net result for the period of deducting operating expenses from operating revenues. | Lockheed Martin Corp.’s operating profit increased from Q4 2018 to Q1 2019 but then slightly declined from Q1 2019 to Q2 2019 not reaching Q4 2018 level. |
| Earnings from continuing operations before income taxes | Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. | Lockheed Martin Corp.’s earnings from continuing operations before income taxes increased from Q4 2018 to Q1 2019 but then slightly declined from Q1 2019 to Q2 2019 not reaching Q4 2018 level. |
| Net earnings | The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. | Lockheed Martin Corp.’s net earnings increased from Q4 2018 to Q1 2019 but then slightly declined from Q1 2019 to Q2 2019 not reaching Q4 2018 level. |