Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
||||||||
Operating activities | ||||||||||
Net earnings | $ 3,614us-gaap_NetIncomeLoss | $ 2,981us-gaap_NetIncomeLoss | $ 2,745us-gaap_NetIncomeLoss | |||||||
Adjustments to reconcile net earnings to net cash provided by operating activities | ||||||||||
Depreciation and amortization | 994us-gaap_DepreciationAndAmortization | 990us-gaap_DepreciationAndAmortization | 988us-gaap_DepreciationAndAmortization | |||||||
Stock-based compensation | 164us-gaap_ShareBasedCompensation | 189us-gaap_ShareBasedCompensation | 167us-gaap_ShareBasedCompensation | |||||||
Deferred income taxes | (401)us-gaap_DeferredIncomeTaxExpenseBenefit | (5)us-gaap_DeferredIncomeTaxExpenseBenefit | 930us-gaap_DeferredIncomeTaxExpenseBenefit | |||||||
Goodwill impairment charges | 119us-gaap_GoodwillImpairmentLoss | [1] | 195us-gaap_GoodwillImpairmentLoss | [1] | ||||||
Severance charges | 201lmt_SeveranceCharges | [2] | 48lmt_SeveranceCharges | [2] | ||||||
Changes in assets and liabilities | ||||||||||
Receivables, net | 28us-gaap_IncreaseDecreaseInReceivables | 767us-gaap_IncreaseDecreaseInReceivables | (460)us-gaap_IncreaseDecreaseInReceivables | |||||||
Inventories, net | 77us-gaap_IncreaseDecreaseInInventories | (60)us-gaap_IncreaseDecreaseInInventories | (422)us-gaap_IncreaseDecreaseInInventories | |||||||
Accounts payable | 95us-gaap_IncreaseDecreaseInAccountsPayable | (647)us-gaap_IncreaseDecreaseInAccountsPayable | (236)us-gaap_IncreaseDecreaseInAccountsPayable | |||||||
Customer advances and amounts in excess of costs incurred | (572)us-gaap_IncreaseDecreaseInCustomerAdvances | (158)us-gaap_IncreaseDecreaseInCustomerAdvances | 57us-gaap_IncreaseDecreaseInCustomerAdvances | |||||||
Postretirement benefit plans | (880)us-gaap_IncreaseDecreaseInPensionAndPostretirementObligations | (375)us-gaap_IncreaseDecreaseInPensionAndPostretirementObligations | (1,883)us-gaap_IncreaseDecreaseInPensionAndPostretirementObligations | |||||||
Income taxes | 351us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable | 364us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable | (535)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable | |||||||
Other, net | 277us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet | 104us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet | 162us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet | |||||||
Net cash provided by operating activities | 3,866us-gaap_NetCashProvidedByUsedInOperatingActivities | 4,546us-gaap_NetCashProvidedByUsedInOperatingActivities | 1,561us-gaap_NetCashProvidedByUsedInOperatingActivities | |||||||
Investing activities | ||||||||||
Capital expenditures | (845)us-gaap_PaymentsToAcquireProductiveAssets | (836)us-gaap_PaymentsToAcquireProductiveAssets | (942)us-gaap_PaymentsToAcquireProductiveAssets | |||||||
Acquisitions of businesses and investments in affiliates | (898)us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates | (269)us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates | (259)us-gaap_PaymentsToAcquireBusinessesAndInterestInAffiliates | |||||||
Other, net | 20us-gaap_PaymentsForProceedsFromOtherInvestingActivities | (16)us-gaap_PaymentsForProceedsFromOtherInvestingActivities | 24us-gaap_PaymentsForProceedsFromOtherInvestingActivities | |||||||
Net cash used for investing activities | (1,723)us-gaap_NetCashProvidedByUsedInInvestingActivities | (1,121)us-gaap_NetCashProvidedByUsedInInvestingActivities | (1,177)us-gaap_NetCashProvidedByUsedInInvestingActivities | |||||||
Financing activities | ||||||||||
Repurchases of common stock | (1,900)us-gaap_PaymentsForRepurchaseOfCommonStock | (1,762)us-gaap_PaymentsForRepurchaseOfCommonStock | (990)us-gaap_PaymentsForRepurchaseOfCommonStock | |||||||
Proceeds from stock option exercises | 308us-gaap_ProceedsFromStockOptionsExercised | 827us-gaap_ProceedsFromStockOptionsExercised | 440us-gaap_ProceedsFromStockOptionsExercised | |||||||
Dividends paid | (1,760)us-gaap_PaymentsOfDividendsCommonStock | (1,540)us-gaap_PaymentsOfDividendsCommonStock | (1,352)us-gaap_PaymentsOfDividendsCommonStock | |||||||
Repayments of long-term debt | (150)us-gaap_RepaymentsOfLongTermDebt | |||||||||
Premium paid on debt exchange | (225)lmt_CashPremiumForDebtExchange | |||||||||
Other, net | 38us-gaap_ProceedsFromPaymentsForOtherFinancingActivities | (81)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities | 59us-gaap_ProceedsFromPaymentsForOtherFinancingActivities | |||||||
Net cash used for financing activities | (3,314)us-gaap_NetCashProvidedByUsedInFinancingActivities | (2,706)us-gaap_NetCashProvidedByUsedInFinancingActivities | (2,068)us-gaap_NetCashProvidedByUsedInFinancingActivities | |||||||
Net change in cash and cash equivalents | (1,171)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 719us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (1,684)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | |||||||
Cash and cash equivalents at beginning of year | 2,617us-gaap_CashAndCashEquivalentsAtCarryingValue | 1,898us-gaap_CashAndCashEquivalentsAtCarryingValue | 3,582us-gaap_CashAndCashEquivalentsAtCarryingValue | |||||||
Cash and cash equivalents at end of year | $ 1,446us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 2,617us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 1,898us-gaap_CashAndCashEquivalentsAtCarryingValue | |||||||
|
X | ||||||||||
- Definition
Cash outflow for premium paid to facilitate an exchange of debt with the holder. No definition available.
|
X | ||||||||||
- Definition
The charge against earnings in the period for known and estimated costs of termination benefits provided to current employees that are voluntarily and involuntarily terminated under a benefit arrangement associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding costs or losses pertaining to an entity newly acquired in a business combination or a discontinued operation as defined by generally accepted accounting principles and costs associated with one-time termination benefits. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amount of prepayments by customers for goods or services to be provided at a later date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the amount due to fund pension and non-pension benefits to employees, retired and disabled former employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow associated with the acquisition of a controlling interest in another entity or an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, joint venture or equity method investment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|