INFORMATION ON BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 27, 2022

Summary of Operating Results and Total Assets for Each Business Segment

Summary operating results for each of our business segments were as follows (in millions):



	Quarters Ended
		March 27, 2022			March 28, 2021
Net sales
Aeronautics			$	6,401		$	6,387
Missiles and Fire Control			2,452			2,749
Rotary and Mission Systems			3,552			4,107
Space			2,559			3,015
Total net sales			$	14,964		$	16,258
Operating profit
Aeronautics			$	679		$	693
Missiles and Fire Control			384			396
Rotary and Mission Systems			348			433
Space			245			227
Total business segment operating profit			1,656			1,749
Unallocated items
FAS/CAS pension operating adjustment			426			489


Severance and restructuring charges			—			(36)
Other, net			(149)			(20)
Total unallocated items			277			433
Total consolidated operating profit			$	1,933		$	2,182
Intersegment sales
Aeronautics			$	60		$	53
Missiles and Fire Control			156			129
Rotary and Mission Systems			455			478
Space			83			82
Total intersegment sales			$	754		$	742
Amortization of purchased intangibles
Aeronautics			$	—		$	—
Missiles and Fire Control			(1)			(1)
Rotary and Mission Systems			(58)			(58)
Space			(3)			(22)
Total amortization of purchased intangibles			$	(62)		$	(81)

Total FAS/CAS pension adjustment for the quarters ended March 27, 2022 and March 28, 2021, including the service and non-service cost components of FAS pension (expense) income for our qualified defined benefit pension plans, were as follows (in millions):


	Quarters Ended
		March 27, 2022			March 28, 2021
Total FAS income and CAS cost
Total FAS pension income			$	116		$	66
Less: CAS pension cost			450			516
Total FAS/CAS pension adjustment			$	566		$	582

Service and non-service cost reconciliation
FAS pension service cost			$	(24)		$	(27)
Less: CAS pension cost			450			516
Total FAS/CAS pension operating adjustment			426			489
Non-service FAS pension income			140			93
Total FAS/CAS pension adjustment			$	566		$	582

Net sales by products and services, contract type, customer, and geographic region were as follows (in millions):


	Quarter Ended March 27, 2022
	Aeronautics		MFC		RMS		Space		Total
Net sales
Products	$	5,417	$	2,173	$	2,788	$	2,116	$	12,494
Services	984		279		764		443		2,470
Total net sales	$	6,401	$	2,452	$	3,552	$	2,559	$	14,964
Net sales by contract type
Fixed-price	$	4,686	$	1,713	$	2,218	$	637	$	9,254
Cost-reimbursable	1,715		739		1,334		1,922		5,710
Total net sales	$	6,401	$	2,452	$	3,552	$	2,559	$	14,964
Net sales by customer
U.S. Government	$	4,213	$	1,595	$	2,511	$	2,516	$	10,835
International (a)	2,150		852		971		34		4,007
U.S. commercial and other	38		5		70		9		122
Total net sales	$	6,401	$	2,452	$	3,552	$	2,559	$	14,964
Net sales by geographic region
United States	$	4,251	$	1,600	$	2,581	$	2,525	$	10,957
Europe	1,023		256		187		24		1,490
Asia Pacific	721		106		432		7		1,266
Middle East	262		465		176		3		906
Other	144		25		176		—		345
Total net sales	$	6,401	$	2,452	$	3,552	$	2,559	$	14,964


	Quarter Ended March 28, 2021
	Aeronautics		MFC		RMS		Space		Total
Net sales
Products	$	5,479	$	2,410	$	3,300	$	2,564	$	13,753
Services	908		339		807		451		2,505
Total net sales	$	6,387	$	2,749	$	4,107	$	3,015	$	16,258
Net sales by contract type
Fixed-price	$	4,734	$	1,878	$	2,677	$	614	$	9,903
Cost-reimbursable	1,653		871		1,430		2,401		6,355
Total net sales	$	6,387	$	2,749	$	4,107	$	3,015	$	16,258
Net sales by customer
U.S. Government	$	4,273	$	2,041	$	2,810	$	2,551	$	11,675
International (a)	2,099		703		1,220		457		4,479
U.S. commercial and other	15		5		77		7		104
Total net sales	$	6,387	$	2,749	$	4,107	$	3,015	$	16,258
Net sales by geographic region
United States	$	4,288	$	2,046	$	2,887	$	2,558	$	11,779
Europe	854		182		201		455		1,692
Asia Pacific	893		51		650		2		1,596
Middle East	284		458		170		—		912
Other	68		12		199		—		279
Total net sales	$	6,387	$	2,749	$	4,107	$	3,015	$	16,258

(a)International sales include foreign military sales (FMS) contracted through the U.S. Government and direct commercial sales to international governments and other international customers.

Total assets for each of our business segments were as follows (in millions):


	March 27, 2022		December 31, 2021
Assets
Aeronautics	$	12,232	$	10,756
Missiles and Fire Control	5,410		5,243
Rotary and Mission Systems	17,569		17,664
Space	6,315		6,199
Total business segment assets	41,526		39,862
Corporate assets (a)	9,984		11,011
Total assets	$	51,510	$	50,873

(a)Corporate assets primarily include cash and cash equivalents, deferred income taxes, assets for the portion of environmental costs that are probable of future recovery, investments held in a separate trust and investments held in Lockheed Martin Ventures Fund.