1995 Annual Report - Lockheed Martin

C o n s o l i d a t e d S t a t e m e n t o f C a s h F l o w sLockheed Martin Corporation(In millions)Operating ActivitiesEarnings before cumulative effect of change in accountingAdjustments to reconcile earnings to net cashprovided by operating activities:Merger related and consolidation — expenses— paymentsDepreciation and amortizationAmortization of intangible assetsDeferred federal income taxesGain—Materials public offeringAcquisition termination feeChanges in operating assets and liabilities:ReceivablesInventoriesCustomer advances and amounts in excessof costs incurredOtherNet cash provided by operating activities1995$ 682690(208)605316(116)——(394)430(294)(419)1,292Year Ended December 311994$1,055——63829973(118)(50)(169)(221)20(34)1,4931993$ 829——680256165——8063(209)(405)1,459Investing ActivitiesAdditions to properties, net of purchased operationsAcquisition, investment and divestiture activitiesNet proceeds — Materials public offeringOther(531)(294)—126(509)(125)189(57)(536)(2,420)—148Net cash used for investing activities(699)(502)(2,808)Financing ActivitiesDecreases in short-term borrowingsIncreases in long-term debtRepayments and extinguishments of long-term debtIssuances of common stockPurchases of common stockDividends on common stockDividends on preferred stock(14)125(287)61(150)(254)(60)(7)43(512)32—(214)(60)(9)2,281(741)88—(215)(45)Net cash (used for) provided by financing activities(579)(718)1,359Net increase in cash and cash equivalentsCash and cash equivalents at beginning of year1463927336610356Cash and cash equivalents at end of year$ 653$ 639$ 366•See accompanying Notes to Consolidated Financial Statements.