Lockheed Martin Corporation

NYSE-LMT

Operating Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Net Income	2,054	2,150	3,186	3,550	3,370	3,690
Net Earnings
Depreciation & Amortization	796	849	710	771	659	732
Depreciation and Amortization
Stock Based Compensation	141	123	154	119	146	104
Stock-Based Compensation
Other Adjustments	1,120	1,357	107	-127	-234	-232
Equity Method Investment Impairment
Tax Resolution Related to Former IS&GS Business
Deferred Income Taxes
Pension Settlement Charge
Impairment and Other Charges
Gain on Property Sale
Gain on Divestiture of IS&GS Business
Gain on Step Acquisition of AWE
Impairment and Other Charges
Select Program Losses
Changes in Trade Receivables	-3,133	1,194	-1,522	1,120	-1,612	331
Receivables, Net
Change in Contract Assets
Changes in Inventories	-461	-513	35	366	-410	343
Inventories
Changes in Accounts Payable	1,500	-1,145	1,052	-1,246	1,397	-248
Accounts Payable
Changes in Income Taxes Payable	251	110	21	-87	-46	-170
Income Taxes
Changes in Unearned Revenue	-360	614	-9	1,006	-304	411
Change in Customer Advances and Amounts in Excess of Costs Incurred
Contract Liabilities
Changes in Other Operating Activities	-298	-1,278	-223	-216	-302	100
Qualified Defined Benefit Pension Plans
Other, Net
Cash from Operating Activities	1,610	3,461	3,511	5,256	2,664	5,061
Net Cash Provided by Operating Activities

Investing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Capital Expenditure	-805	-937	-748	-1,068	-623	-1,098
Capital Expenditures
Payments for Business Acquisitions	—	—	—	—	—	—
Acquisitions of Businesses and Investments in Affiliates
Other Investing Activities	-340	-111	4	-33	30	-108
Other, Net
Cash from Investing Activities	-1,145	-1,048	-744	-1,101	-593	-1,206
Net Cash Provided by Investing Activities

Financing Activities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Issuance of Short-Term Debt	1,449	—	—	—	—	—
Proceeds from Borrowings Under Revolving Credit Facilities
Proceeds from Commercial Paper, Net
Repayments of Short-Term Debt	—	—	—	—	—	—
Repayment of Commercial Paper, Net
Repayments of Borrowings Under Revolving Credit Facilities
Net Issuance / (Repayments) of Short-Term Debt	1,449	—	—	—	—	—
Issuance of Long-Term Debt	—	990	1,980	—	1,975	3,944
Issuance of Long-Term Debt, Net of Related Costs
Repayments of Long-Term Debt	-142	—	-168	-115	—	—
Repayments of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	-142	990	1,812	-115	1,975	3,944
Issuance of Common Shares	—	—	—	—	—	—
Issuances of Common Stock and Related Amounts
Repurchases of Common Shares	-1,250	-1,850	-1,850	-4,750	-1,250	-5,544
Repurchases of Common Stock
Net Issuance / (Repurchases) of Common Shares	-1,250	-1,850	-1,850	-4,750	-1,250	-5,544
Common Share Dividends Paid	-1,567	-1,527	-1,532	-1,514	-1,542	-1,505
Dividends Paid
Other Financing Activities	-145	-66	-116	-7	-128	22
Special Cash Payment from Divestiture of IS&GS Business
Other, Net
Cash from Financing Activities	-1,655	-2,453	-1,686	-6,386	-945	-3,083
Net Cash Provided by Financing Activities