Balance Sheet: Liabilities and Stockholders’ Equity
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.

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

	Sep 28, 2025	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
Accounts payable	3,834)	3,653)	3,821)	2,222)	3,221)	3,282)	3,523)	2,312)	3,817)	3,466)	3,271)	2,117)	2,622)	2,309)	2,599)	780)	1,520)	1,608)	1,889)	880)	1,491)	1,453)	3,166)
Salaries, benefits and payroll taxes	3,065)	2,761)	2,391)	3,125)	3,076)	2,871)	2,679)	3,133)	3,139)	2,896)	2,634)	3,075)	3,151)	2,935)	2,671)	3,108)	3,122)	3,029)	2,794)	3,163)	2,818)	2,488)	2,022)
Contract liabilities	10,259)	9,861)	9,375)	9,795)	9,051)	9,181)	8,745)	9,190)	7,936)	8,184)	8,336)	8,488)	8,059)	8,077)	7,902)	8,107)	7,515)	7,379)	7,255)	7,545)	7,354)	7,481)	7,205)
Current maturities of long-term debt	1,669)	3,118)	1,643)	643)	142)	142)	168)	168)	168)	283)	115)	118)	—)	—)	500)	6)	6)	506)	506)	500)	1,000)	500)	1,250)
Other current liabilities	4,147)	4,961)	3,957)	3,635)	2,320)	3,017)	2,584)	2,134)	2,133)	2,875)	2,626)	2,089)	2,515)	3,158)	2,375)	1,996)	2,863)	2,720)	2,273)	1,845)	2,538)	2,966)	2,009)
Current liabilities	22,974)	24,354)	21,187)	19,420)	17,810)	18,493)	17,699)	16,937)	17,193)	17,704)	16,982)	15,887)	16,347)	16,479)	16,047)	13,997)	15,026)	15,242)	14,717)	13,933)	15,201)	14,888)	15,652)
Long-term debt, net, excluding current maturities	20,520)	18,520)	18,661)	19,627)	19,179)	19,115)	19,250)	17,291)	17,221)	17,262)	15,485)	15,429)	11,480)	11,644)	11,145)	11,670)	11,668)	11,665)	11,657)	11,669)	11,675)	12,174)	11,439)
Accrued pension liabilities	4,861)	4,838)	4,815)	4,791)	6,077)	6,105)	6,133)	6,162)	5,323)	5,373)	5,422)	5,472)	5,745)	5,808)	8,143)	8,319)	9,351)	12,412)	12,643)	12,874)	12,765)	12,921)	13,078)
Other noncurrent liabilities	5,740)	5,824)	5,323)	5,446)	5,254)	5,188)	5,231)	5,231)	7,655)	7,399)	7,087)	6,826)	6,492)	6,395)	6,173)	5,928)	6,167)	6,250)	6,087)	6,196)	6,146)	5,834)	5,592)
Noncurrent liabilities	31,121)	29,182)	28,799)	29,864)	30,510)	30,408)	30,614)	28,684)	30,199)	30,034)	27,994)	27,727)	23,717)	23,847)	25,461)	25,917)	27,186)	30,327)	30,387)	30,739)	30,586)	30,929)	30,109)
Total liabilities	54,095)	53,536)	49,986)	49,284)	48,320)	48,901)	48,313)	45,621)	47,392)	47,738)	44,976)	43,614)	40,064)	40,326)	41,508)	39,914)	42,212)	45,569)	45,104)	44,672)	45,787)	45,817)	45,761)
Common stock, $1 par value per share	230)	232)	233)	234)	236)	237)	239)	240)	247)	251)	254)	254)	261)	264)	265)	271)	274)	276)	278)	279)	278)	278)	279)
Additional paid-in capital	—)	—)	—)	—)	—)	—)	—)	—)	107)	—)	—)	92)	—)	—)	—)	94)	98)	122)	65)	221)	90)	—)	—)
Retained earnings	14,053)	13,259)	14,773)	14,551)	15,657)	14,707)	15,222)	15,398)	17,066)	17,068)	17,478)	16,943)	19,839)	19,336)	20,716)	21,600)	21,476)	21,961)	21,977)	21,636)	19,844)	18,876)	18,708)
Accumulated other comprehensive loss	(8,102)	(8,157)	(8,323)	(8,452)	(8,693)	(8,769)	(8,811)	(8,803)	(8,146)	(8,079)	(8,086)	(8,023)	(8,134)	(8,168)	(10,979)	(11,006)	(12,217)	(15,837)	(16,008)	(16,121)	(15,259)	(15,403)	(15,541)
Stockholders’ equity	6,181)	5,334)	6,683)	6,333)	7,200)	6,175)	6,650)	6,835)	9,274)	9,240)	9,646)	9,266)	11,966)	11,432)	10,002)	10,959)	9,631)	6,522)	6,312)	6,015)	4,953)	3,751)	3,446)
Noncontrolling interests in subsidiary	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	8)	21)	23)	33)	35)	41)
Total equity	6,181)	5,334)	6,683)	6,333)	7,200)	6,175)	6,650)	6,835)	9,274)	9,240)	9,646)	9,266)	11,966)	11,432)	10,002)	10,959)	9,631)	6,530)	6,333)	6,038)	4,986)	3,786)	3,487)
Total liabilities and equity	60,276)	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 financial data reveals various trends in liabilities, equity, and expense-related accounts over the observed periods. A comprehensive analysis of these trends follows.

Accounts Payable: The accounts payable balance exhibits volatility with notable fluctuations. Initially high at 3,166 million, it dropped sharply to under 900 million by the end of 2020, then generally increased with peaks near 3,800 million in the latter periods. This indicates periods of varied payment obligations, potentially reflecting changes in procurement or supplier payment terms.
Salaries, Benefits, and Payroll Taxes: This expense category shows a general upward trend from approximately 2,000 million to over 3,100 million. Peaks occur in several quarters without a sustained decrease, suggesting increasing labor costs or workforce expansion over time.
Contract Liabilities: Contract liabilities remained relatively stable but with a gradual upward trend from about 7,200 million to over 10,200 million. This steady increase suggests growing deferred revenue or contract-related obligations, implying strong order intake or advancing contract milestones.
Current Maturities of Long-term Debt: Values for current maturities of long-term debt generally remain low or moderate except for notable spikes near mid-2025, reaching above 3,000 million. This may indicate scheduled debt repayments or refinancing activity concentrated in those periods.
Other Current Liabilities: There is variability in other current liabilities with values ranging from about 1,800 million to nearly 5,000 million. Sharp increases in recent periods suggest growing short-term obligations that are neither accounts payable nor contract liabilities.
Current Liabilities: Current liabilities fluctuate around 13,900 million to over 24,000 million, with a clear upward trend especially into the 2024–2025 timeframe. This rise corresponds with increases in several subcomponents, indicating expanding short-term obligations.
Long-term Debt, Net, Excluding Current Maturities: This liability remains fairly stable around 11,000 to 19,600 million, with some upward movement from 2022 onward, peaking near the last periods. This suggests some incremental long-term borrowing or reclassification of debt portions.
Accrued Pension Liabilities: Accrued pension liabilities exhibit a downward trend from roughly 13,000 million to under 5,000 million, signaling possible pension plan funding improvements, settlements, or actuarial gains reducing company obligations.
Other Noncurrent Liabilities: The balance ranges between approximately 5,200 million and 7,600 million, with some periods showing decline but later recovery towards 2025. This indicates a relatively stable level of miscellaneous long-term liabilities.
Noncurrent Liabilities: Noncurrent liabilities display general stability, hovering mostly between 25,000 million and 31,000 million. However, there is a slight decrease in mid-periods before increasing again, reflecting adjustments in long-term obligations.
Total Liabilities: Total liabilities appear stable around 40,000 million to over 54,000 million, with rises corresponding to observed increases in current and noncurrent liabilities, particularly toward 2024 and 2025.
Common Stock: A gradual decline in common stock par value is observed, decreasing from 279 million to around 230 million. This may result from share buybacks or an adjustment in share count.
Additional Paid-in Capital: Data for additional paid-in capital is sparse; recorded amounts show minor fluctuations likely from equity transactions but insufficient data restricts robust trend analysis.
Retained Earnings: Retained earnings reveal a declining trajectory from approximately 21,600 million down to near 13,000 million across the observed periods, suggesting net losses, dividends, or adjustments affecting accumulated profits.
Accumulated Other Comprehensive Loss: Comprehensive loss remains consistently negative, ranging from about -15,500 million improving to roughly -8,100 million, indicating gradually reduced losses from other comprehensive income items such as foreign currency translation or pension-related adjustments.
Stockholders’ Equity: Stockholders’ equity fluctuates between approximately 3,400 million and 11,000 million with an overall decline in recent periods after peaking around late 2021. This reflects the impact of reduced retained earnings and other comprehensive components.
Noncontrolling Interests: Noncontrolling interest balances are relatively minor and decline over time, disappearing in later periods, indicating possible buyouts or restructuring reducing minority ownership.
Total Equity: Total equity mirrors stockholders’ equity trends, peaking near 11,000 million and declining thereafter, underscoring overall equity contraction across the final periods.
Total Liabilities and Equity: This total remains in the range of roughly 49,000 million to 60,000 million, gradually increasing with time, tracking the incremental liabilities and equity changes with an upward tendency toward 2025.

In summary, the analysis points toward increased overall liabilities driven by higher current obligations and long-term debt, alongside labor cost growth. Equity components show reduced retained earnings and consistent comprehensive loss, exerting downward pressure on total equity. Pension liabilities decrease significantly, likely providing relief on long-term obligations. The fluctuations in debt maturities and other liabilities indicate ongoing capital structure management. These patterns suggest dynamic financial management with areas of both strengthening obligations and evolving equity positions.

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Lockheed Martin Corp. (NYSE:LMT)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data