Stock Analysis on Net
Stock Analysis on Net

Lockheed Martin Corp. (NYSE:LMT)

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Beginner level

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

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Lockheed Martin Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

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Jun 28, 2020 Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 24, 2018 Mar 25, 2018 Dec 31, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 31, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 31, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015
Accounts payable 1,453  3,166  1,281  2,904  2,611  3,097  2,402  2,691  2,675  2,715  1,467  2,848  2,554  2,718  1,653  2,840  2,778  2,715  1,974  2,215  2,016  1,945 
Contract liabilities 7,481  7,205  7,054  6,777  6,766  6,796  6,491  6,489  6,413  6,550  6,752  6,195  6,460  6,572  6,776  6,830  7,236  6,856  6,988  5,339  5,549  5,548 
Salaries, benefits and payroll taxes 2,488  2,022  2,466  2,308  2,077  1,861  2,122  2,165  2,051  1,771  1,785  1,895  1,796  1,647  1,764  1,856  2,012  1,963  1,916  1,947  1,808  1,722 
Current maturities of long-term debt 500  1,250  1,250  900  900  1,300  1,500  1,240  750  750  750  —  —  —  —  —  502  956  956  952  452  — 
Other current liabilities 2,966  2,009  1,921  2,626  2,778  2,349  1,883  2,619  1,992  2,188  1,883  2,146  2,831  2,660  2,349  2,899  3,067  2,422  2,223  2,527  2,799  2,352 
Current liabilities 14,888  15,652  13,972  15,515  15,132  15,403  14,398  15,204  13,881  13,974  12,637  13,084  13,641  13,597  12,542  14,425  15,595  14,912  14,057  12,980  12,624  11,567 
Long-term debt, net, excluding current maturities 12,174  11,439  11,404  12,652  12,637  12,621  12,604  13,486  13,479  13,473  13,513  14,268  14,283  14,276  14,282  14,304  14,307  14,320  14,305  7,460  7,950  8,404 
Accrued pension liabilities 12,921  13,078  13,234  11,436  11,426  11,418  11,410  10,692  12,196  14,199  15,703  13,998  13,960  13,908  13,855  11,859  11,816  11,800  11,807  11,374  11,387  11,400 
Other noncurrent liabilities 5,834  5,592  5,747  5,735  5,749  5,720  5,015  5,111  5,090  5,099  5,277  5,421  5,478  5,470  5,521  5,721  5,693  5,949  5,862  4,990  4,905  4,861 
Noncurrent liabilities 30,929  30,109  30,385  29,823  29,812  29,759  29,029  29,289  30,765  32,771  34,493  33,687  33,721  33,654  33,658  31,884  31,816  32,069  31,974  23,824  24,242  24,665 
Total liabilities 45,817  45,761  44,357  45,338  44,944  45,162  43,427  44,493  44,646  46,745  47,130  46,771  47,362  47,251  46,200  46,309  47,411  46,981  46,031  36,804  36,866  36,232 
Common stock, $1 par value per share 278  279  280  281  281  281  281  283  283  284  284  285  286  288  289  291  301  303  303  306  309  313 
Additional paid-in capital —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Retained earnings 18,876  18,708  18,401  17,265  16,408  16,278  15,434  14,737  14,528  14,123  11,573  13,173  12,616  13,087  13,324  13,023  13,800  14,128  14,238  13,828  14,129  14,922 
Accumulated other comprehensive loss (15,403) (15,541) (15,554) (13,653) (13,839) (14,094) (14,321) (14,077) (14,395) (14,589) (12,540) (11,360) (11,637) (11,892) (12,102) (10,991) (11,104) (11,254) (11,444) (11,321) (11,456) (11,715)
Stockholders’ equity (deficit) 3,751  3,446  3,127  3,893  2,850  2,465  1,394  943  416  (182) (683) 2,098  1,265  1,483  1,511  2,323  2,997  3,177  3,097  2,813  2,982  3,520 
Noncontrolling interests in subsidiary 35  41  44  44  46  57  55  59  63  71  74  77  84  102  95  107  —  —  —  —  —  — 
Total equity (deficit) 3,786  3,487  3,171  3,937  2,896  2,522  1,449  1,002  479  (111) (609) 2,175  1,349  1,585  1,606  2,430  2,997  3,177  3,097  2,813  2,982  3,520 
Total liabilities and equity (deficit) 49,603  49,248  47,528  49,275  47,840  47,684  44,876  45,495  45,125  46,634  46,521  48,946  48,711  48,836  47,806  48,739  50,408  50,158  49,128  39,617  39,848  39,752 

Based on: 10-Q (filing date: 2020-07-21), 10-Q (filing date: 2020-04-22), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-25), 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).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Lockheed Martin Corp.’s current liabilities increased from Q4 2019 to Q1 2020 but then slightly decreased from Q1 2020 to Q2 2020.
Noncurrent liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Lockheed Martin Corp.’s noncurrent liabilities decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 exceeding Q4 2019 level.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Lockheed Martin Corp.’s total liabilities increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Stockholders’ equity (deficit) Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Lockheed Martin Corp.’s stockholders’ equity (deficit) increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.