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

	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	3,821)	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	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	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	1,643)	643)	142)	142)	168)	168)	168)	283)	115)	118)	—)	—)	500)	6)	6)	506)	506)	500)	1,000)	500)	1,250)
Other current liabilities	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	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	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	4,815)	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	5,323)	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	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	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	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	14,773)	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	(8,323)	(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	6,683)	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	6,683)	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	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 analysis of the financial data reveals several notable trends across the periods presented.

Accounts Payable: Accounts payable demonstrates a fluctuating pattern with sharp decreases and increases within the quarters. Initial values drop significantly in 2020 before rising steadily through 2023, followed by a slight decline toward early 2025. This suggests varying levels of supplier payments or credit terms adjustments across periods.
Salaries, Benefits, and Payroll Taxes: This item shows an overall cyclical trend with some volatility. A peak is observed in late 2020, followed by some decreases and recoveries, but with a downward movement toward early 2025, indicating possible workforce or compensation changes affecting operational costs.
Contract Liabilities: Contract liabilities remain relatively high and stable with a general increasing trend over the periods, peaking in 2025. This suggests growing customer advances or deferred revenue, reflecting solid contract backlogs or prepaid orders.
Current Maturities of Long-Term Debt: There are notable inconsistencies and gaps in data for current maturities of long-term debt, but overall figures spike dramatically in the end of noted periods in 2024 and 2025, possibly indicating upcoming large debt repayments or refinancing activities.
Other Current Liabilities: Other current liabilities show irregular fluctuations, with periods of increase followed by decreases, peaking toward 2024-2025. This volatility may indicate changing short-term obligations or accrual adjustments.
Current Liabilities: Overall, current liabilities exhibit an upward trajectory over the analyzed periods, increasing from approximately $15.7 billion to above $21 billion, which could be associated with higher short-term obligations and operational scale-up.
Long-Term Debt, Net: Long-term debt, excluding current maturities, remains relatively stable throughout, with a slight increase in 2022 and 2023 before declining moderately toward early 2025. This suggests moderate leverage management with potential refinancing or repayment activities.
Accrued Pension Liabilities: Accrued pension liabilities trend downward steadily from 2020 into 2024, decreasing from over $13 billion to below $5 billion, showing significant reductions that could stem from pension funding efforts or actuarial adjustments.
Other Noncurrent Liabilities: These exhibit minor fluctuations with a peak in mid-2023 followed by a decrease toward 2025, indicating relative stability with modest changes in long-term obligations other than debt and pensions.
Noncurrent Liabilities: Noncurrent liabilities show a decline during 2020–2022, a sizeable jump near 2023, followed by another gradual decrease. This pattern indicates structural changes in long-term liabilities, including debt and pension-related accounts.
Total Liabilities: Total liabilities follow a generally stable pattern with slight fluctuations, ranging around $45 billion to nearly $50 billion. A notable increase is observed toward 2024 and 2025, reflecting overall growth in the company's obligations.
Common Stock: Common stock accounts gradually decline over the periods, moving from $279 million to $233 million, likely due to share repurchases or retirement of stock.
Additional Paid-in Capital: Data for additional paid-in capital is incomplete but shows small fluctuations with occasional increases, indicating minimal impact on equity from new capital infusion or stock-based transactions.
Retained Earnings: Retained earnings demonstrate volatility with a peak around late 2020 followed by a continuous decline through 2024 and into 2025. This trend may reflect distributions to shareholders, net losses, or increased expenses impacting accumulated profits.
Accumulated Other Comprehensive Loss: This account shows a steady decrease in negative balances, moving from around -$15.5 billion to approximately -$8.3 billion, signifying a reduction in unrealized losses or revaluation deficits over the periods.
Stockholders’ Equity: Stockholders' equity increases significantly up to the end of 2021 but then declines considerably through 2023 and 2024, settling near $6.7 billion in early 2025. This decline is consistent with the reduction in retained earnings and may highlight challenges in profitability or capital returns.
Noncontrolling Interests in Subsidiary: Noncontrolling interests decrease over time, with limited data beyond 2021, indicating potential consolidation changes or buyouts of minority stakes.
Total Equity: Total equity presents similar trends to stockholders' equity, reflecting the cumulative impact of earnings, share transactions, and other comprehensive income elements.
Total Liabilities and Equity: The sum of liabilities and equity shows a gradual increase from around $49.2 billion to about $56.7 billion by early 2025, consistent with company growth and expansion of its financial base.

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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