1995 Annual Report - Lockheed Martin

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F i n a n c i a lH i g h l i g h t sIn millions, except per share dataNet salesEarnings before cumulativeeffect of change in accountingNet earningsEarnings per common share,assuming full dilutionCash dividends percommon shareTotal assetsDebt:Current maturitiesLong-termShareholders' equityNegotiated backlog<strong>1995</strong>$22,853682 (a)682 (a)3.05 (a)1.3417,6487223,0106,43341,1251994$22,9061,055 (b)1,018 (b)(c)4.66 (b)(c)1.1418,0492853,5946,08642,232See notes 1,2,4, and 10 to the Consolidated Financial Statements.(a) Earnings for <strong>1995</strong> include the effects of pretax charges totaling $690 millionfar merger related and consolidation expenses. These charges reduced net earningsby $436 million, or $1.96 per common share.(b) Earnings for 1994 include the favorable effects of two significant nonrecurringtransactions: a $118 million pretax gain from an initial public offering of a portionof the common stock of a subsidiary and the receipt of a $50 million acquisitiontermination fee. These nonrecurring transactions increased net earnings by$70 million, or $.32 per common share, and $30 million, or $.14 per commonshare, respectively.(c) Effective January 1, 1994, the Corporation changed the method of accountingfor its ESOP. This change resulted in a cumulative effect adjustment which reducednet earnings for 1994 by $3 7 million, or $.17 per common share.ContentsTo Our Shareholders 2Vision Statement 7Operating Companies 8Operating HighlightsAeronautics Sector 14Electronics Sector 20Energy & Environment 26SectorInformation & 31Technology ServicesSectorSpace & Strategic 37Missiles SectorFinancial Information 43Corporate Directory 78General Information 80
M i s s i o n S u c c e s sOur commitment toand totalcustomersatisfactionin every goalwe set and every task we
Page 1: 1 9 9 5A n n u a lR e p o r t
Page 5: Mission Success"Mission Success" ex
Page 8 and 9: operating officer, Frank Lanza, wil
Page 10 and 11: Sector Operating CompaniesAeronauti
Page 12 and 13: Fromthe depthsof theEarth'soceans t
Page 14 and 15: Space
Page 16 and 17: A e r o n a u t i c sS e c t o rThe
Page 18: Making its debuton October 18, 1995
Page 21 and 22: Lockheed Martin Skunk Works, a nati
Page 23 and 24: Sanders solidified its position amo
Page 25 and 26: dispensers for fighter and bomber a
Page 28 and 29: E n e r g y & E n v i r o n m e n t
Page 31 and 32: The Rimfire highvoltage switch,show
Page 33 and 34: I n f o r m a t i o n & T e c h n o
Page 35 and 36: Motorists using theVerrazano-Narrow
Page 38 and 39: CalComp, a Lockheed Martin company,
Page 41 and 42: Lockheed Martin isa premier designe
Page 43 and 44: NASA last year chose Lockheed Marti
Page 45 and 46: F i n a n c i a lI n f o r m a t i
Page 47 and 48: Lockheed Martin CorporationBusiness
Page 49 and 50: Lockheed Martin Corporationworldwid
Page 51 and 52: Lockheed Martin CorporationOperatin
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Lockheed Martin Corporationof the 1
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Lockheed Martin CorporationTotal In
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Lockheed Martin Corporationenter in
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Lockheed Martin CorporationT h e C
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C o n s o l i d a t e d S t a t e m
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Lockheed Martin CorporationC o n s
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Lockheed Martin Corporationprofits
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Lockheed Martin CorporationU.S. Gov
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Lockheed Martin CorporationNote 7 -
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Lockheed Martin CorporationNote 10
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Lockheed Martin Corporationpart, wi
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Lockheed Martin CorporationActuaria
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Lockheed Martin Corporationship and
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Lockheed Martin CorporationC o n s
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Lockheed Martin CorporationJames A.
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Lockheed Martin Code of Ethics andB
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1995 Annual Report - Lockheed Martin

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