Cash Flow Statement

Operating Cash Flow

+10%

+5%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Operating Cash Flow
Net Income	135	324	701	533	565	468	395	1 053	1 094	1 148	1 238	1 266	1 344	1 509	1 629	1 825	2 047	2 166	2 368	2 529	2 628	2 826	2 963	3 033	3 073	3 177	3 193	3 217	3 153	3 005	3 020	2 973	2 840	2 930	2 693	0	(3)	(85)	55	2 655	2 793	2 832	683	2 745	2 838	2 916	5 238	2 981	3 153	3 183	3 198	3 614	3 559	3 599	3 576	3 605	3 625	3 717	5 247	5 173	5 064	4 998	3 566	1 963	2 331	2 539	3 049	5 046	5 593	5 850	5 985	6 230	6 243	6 449	6 539	6 833	6 953	7 142	6 058	6 315	6 211	4 705	5 869	5 732	5 688	7 060	6 966	6 920	6 776	6 736	6 675	5 336	5 503	4 204	4 200	5 017
Depreciation & Amortization	763	702	626	558	563	573	593	609	632	638	656	656	657	673	680	705	716	734	743	764	775	771	788	819	830	848	860	845	851	857	858	1 014	1 092	1 085	1 083	0	74	141	200	1 008	993	980	269	988	989	996	1 692	990	995	997	1 012	994	1 001	1 005	994	1 026	1 078	1 129	1 188	1 215	1 204	1 203	1 207	1 195	1 189	1 180	1 172	1 161	1 159	1 160	1 171	1 189	1 213	1 232	1 249	1 290	1 325	1 352	1 362	1 364	1 357	1 366	1 330	1 404	1 400	1 391	1 448	1 430	1 456	1 481	1 521	1 559	1 605	1 645	1 683	1 687
Change in Deffered Taxes	0	0	0	(463)	0	0	0	467	0	0	0	(58)	0	0	0	24	0	0	0	75	0	0	0	110	0	0	0	72	0	0	0	567	688	601	921	0	0	0	0	(2)	0	0	0	930	0	0	0	(5)	0	0	0	(401)	0	0	0	(445)	0	0	0	(193)	0	0	0	3 448	0	0	0	(244)	0	0	0	222	0	0	0	5	0	0	0	(183)	(594)	(1 355)	(723)	(757)	(463)	181	(612)	(498)	(458)	(409)	(277)	(588)	(545)	(1 004)	(342)	372
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	111	160	193	227	149	135	142	148	155	150	152	136	154	165	164	158	168	166	165	184	157	159	165	170	167	179	192	188	189	184	174	167	164	156	156	154	138	142	146	144	149	149	153	158	158	152	155	173	173	172	179	183	189	194	200	213	221	226	233	228	227	234	234	233	238	241	250	264	265	269	273	273	277	276	264	263	304
Other Non-Cash Items	0	0	0	1 094	0	0	0	42	0	0	0	151	0	0	0	0	0	0	0	(18)	0	0	0	25	60	57	50	63	58	90	134	85	96	108	267	(37)	(39)	(32)	(233)	204	190	188	106	215	257	270	395	585	550	540	533	283	275	275	308	240	343	347	(1 028)	(1 057)	(1 156)	(1 152)	191	(113)	(119)	(20)	(2)	269	217	128	132	138	194	328	396	431	472	351	1 956	1 928	1 899	3 369	1 703	1 808	1 811	350	364	357	361	452	452	2 329	2 328	3 910	3 909	2 464
Cash Taxes Paid	811	0	0	55	86	0	0	170	0	0	0	363	0	0	0	599	0	0	0	859	879	1 023	1 720	1 131	1 111	0	1 188	1 234	1 234	0	1 018	986	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1 400	0	0	0	1 400	0	0	0	1 600	0	0	0	1 800	0	0	0	1 300	0	0	0	788
Cash Interest Paid	746	0	0	586	622	0	0	519	0	0	0	420	0	0	0	356	0	0	0	337	392	713	555	327	326	(49)	335	320	317	463	288	286	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	567	0	0	0	543	0	0	0	573	0	0	0	832	0	0	0	950	0	0	0	1 000
Change in Working Capital	(495)	343	525	566	645	457	(385)	(362)	92	(79)	567	909	1 316	1 098	825	640	44	823	371	415	602	199	328	251	(437)	(472)	(372)	224	625	383	691	(1 152)	(717)	(636)	(1 787)	37	186	(202)	183	388	(982)	(1 055)	33	(3 317)	(1 826)	(2 146)	(3 086)	(5)	(132)	200	267	(624)	(1 711)	(1 469)	(941)	675	1 210	1 273	862	51	269	403	922	(17)	(1 407)	(3 321)	(5 234)	(3 094)	(2 556)	(985)	994	(468)	90	245	(540)	(376)	(1 138)	(2 147)	(2 621)	(203)	10	861	1 963	(385)	(480)	(1 257)	(683)	(289)	(144)	507	(57)	(1 664)	(2 145)	(3 684)	(3 089)	(983)
Cash from Operating Activities	1 204 N/A	2 176 +81%	2 359 +8%	2 288 -3%	2 404 +5%	2 129 -11%	1 234 -42%	1 809 +47%	2 327 +29%	2 216 -5%	2 970 +34%	2 924 -2%	3 410 +17%	3 373 -1%	3 227 -4%	3 194 -1%	2 831 -11%	3 747 +32%	3 506 -6%	3 765 +7%	4 062 +8%	3 853 -5%	4 136 +7%	4 238 +2%	3 636 -14%	3 720 +2%	3 841 +3%	4 421 +15%	4 759 +8%	4 407 -7%	4 775 +8%	3 487 -27%	3 918 +12%	4 007 +2%	3 096 -23%	0 N/A	70 N/A	(261) N/A	(223) +15%	4 253 N/A	2 992 -30%	2 943 -2%	1 089 -63%	1 561 +43%	3 188 +104%	2 966 -7%	5 169 +74%	4 546 -12%	4 561 +0%	4 915 +8%	5 005 +2%	3 866 -23%	2 723 -30%	3 009 +11%	3 536 +18%	5 101 +44%	5 811 +14%	6 021 +4%	5 824 -3%	5 189 -11%	5 188 0%	5 259 +1%	5 693 +8%	6 476 +14%	5 442 -16%	3 826 -30%	2 433 -36%	3 138 +29%	4 169 +33%	5 909 +42%	8 038 +36%	7 311 -9%	7 962 +9%	8 476 +6%	7 866 -7%	8 183 +4%	7 617 -7%	6 703 -12%	6 760 +1%	9 221 +36%	8 883 -4%	8 946 +1%	10 142 +13%	7 802 -23%	7 956 +2%	7 725 -3%	7 483 -3%	7 920 +6%	7 991 +1%	8 767 +10%	8 314 -5%	6 972 -16%	6 746 -3%	5 071 -25%	6 361 +25%	8 557 +35%
Investing Cash Flow
Capital Expenditures	(652)	(687)	(703)	(662)	(635)	(603)	(633)	(687)	(715)	(745)	(713)	(769)	(752)	(717)	(738)	(865)	(874)	(920)	(956)	(893)	(879)	(884)	(920)	(940)	(960)	(960)	(963)	(926)	(954)	(951)	(904)	(1 166)	(1 126)	(1 090)	(1 079)	0	(38)	(105)	(175)	(987)	(988)	(965)	(418)	(942)	(917)	(918)	(1 433)	(836)	(833)	(807)	(801)	(845)	(860)	(901)	(889)	(939)	(972)	(1 016)	(1 066)	(1 063)	(1 082)	(1 125)	(1 106)	(1 177)	(1 223)	(1 209)	(1 326)	(1 278)	(1 346)	(1 331)	(1 300)	(1 484)	(1 493)	(1 587)	(1 687)	(1 766)	(1 754)	(1 729)	(1 637)	(1 522)	(1 509)	(1 495)	(1 584)	(1 670)	(1 696)	(1 721)	(1 680)	(1 691)	(1 775)	(1 816)	(1 807)	(1 685)	(1 761)	(1 742)	(1 768)	(1 649)
Other Items	854	866	73	123	(68)	(338)	(376)	(774)	(367)	(61)	(133)	61	149	164	229	366	6	(278)	(776)	(762)	(674)	(562)	(277)	(265)	(159)	(7)	71	19	(316)	(371)	(819)	(666)	(422)	(1 046)	(341)	0	(52)	1 077	1 253	199	124	(314)	(606)	(235)	(267)	(300)	(528)	(285)	(258)	(401)	(600)	(878)	(829)	(614)	(181)	(8 795)	(8 817)	(8 827)	(8 808)	78	78	28	17	30	156	172	161	203	100	77	95	243	214	222	232	(244)	(130)	(38)	25	361	266	140	61	(119)	(101)	(78)	(119)	(3)	(32)	(29)	150	(107)	(89)	(451)	(534)	(328)
Cash from Investing Activities	202 N/A	179 -11%	(630) N/A	(539) +14%	(703) -30%	(941) -34%	(1 009) -7%	(1 461) -45%	(1 082) +26%	(806) +26%	(846) -5%	(708) +16%	(603) +15%	(553) +8%	(509) +8%	(499) +2%	(868) -74%	(1 198) -38%	(1 732) -45%	(1 655) +4%	(1 553) +6%	(1 446) +7%	(1 197) +17%	(1 205) -1%	(1 119) +7%	(967) +14%	(892) +8%	(907) -2%	(1 270) -40%	(1 322) -4%	(1 723) -30%	(1 832) -6%	(1 548) +16%	(2 136) -38%	(1 420) +34%	0 N/A	(90) N/A	972 N/A	1 078 +11%	(788) N/A	(864) -10%	(1 279) -48%	(1 024) +20%	(1 177) -15%	(1 184) -1%	(1 218) -3%	(1 961) -61%	(1 121) +43%	(1 091) +3%	(1 208) -11%	(1 401) -16%	(1 723) -23%	(1 689) +2%	(1 515) +10%	(1 070) +29%	(9 734) -810%	(9 789) -1%	(9 843) -1%	(9 874) 0%	(985) +90%	(1 004) -2%	(1 097) -9%	(1 089) +1%	(1 147) -5%	(1 067) +7%	(1 037) +3%	(1 165) -12%	(1 075) +8%	(1 246) -16%	(1 254) -1%	(1 205) +4%	(1 241) -3%	(1 279) -3%	(1 365) -7%	(1 455) -7%	(2 010) -38%	(1 884) +6%	(1 767) +6%	(1 612) +9%	(1 161) +28%	(1 243) -7%	(1 355) -9%	(1 523) -12%	(1 789) -17%	(1 797) 0%	(1 799) 0%	(1 799) N/A	(1 694) +6%	(1 807) -7%	(1 845) -2%	(1 657) +10%	(1 792) -8%	(1 850) -3%	(2 193) -19%	(2 302) -5%	(1 977) +14%
Financing Cash Flow
Net Issuance of Common Stock	371	534	521	386	(84)	(256)	(284)	(438)	(151)	(423)	(590)	(509)	(550)	(416)	(804)	(904)	(1 373)	(1 848)	(1 448)	(1 488)	(1 580)	(1 535)	(1 649)	(1 777)	(2 314)	(2 450)	(2 482)	(2 681)	(2 043)	(1 814)	(1 915)	(1 851)	(1 860)	(2 107)	(2 030)	59	280	8	(668)	(2 349)	(2 161)	(1 284)	224	(550)	(873)	(899)	(1 671)	(935)	(1 438)	(1 405)	(1 549)	(1 592)	(1 222)	(2 042)	(2 432)	(2 897)	(2 831)	(2 389)	(1 864)	(2 096)	(2 092)	(2 147)	(2 391)	(2 001)	(1 799)	(1 611)	(1 327)	(1 492)	(1 506)	(1 382)	(1 376)	(1 200)	(1 675)	(1 715)	(1 590)	(1 100)	(1 344)	(1 585)	(2 000)	(4 087)	(5 087)	(4 943)	(5 781)	(7 900)	(6 400)	(6 794)	(7 206)	(6 000)	(6 500)	(6 600)	(5 700)	(3 700)	(3 450)	(3 100)	(3 250)	(3 000)
Net Issuance of Debt	(2 607)	(1 487)	(364)	(110)	(689)	(1 243)	(1 208)	(1 202)	(580)	(130)	(154)	(1 089)	(1 074)	(991)	(991)	(145)	(151)	(306)	(306)	(210)	(221)	(42)	(42)	(32)	476	388	(612)	(612)	(1 103)	(1 000)	0	1 222	0	0	1 222	0	0	0	1 980	1 348	0	0	0	0	0	(150)	(150)	(150)	0	0	0	0	2 213	2 213	2 213	9 101	0	6 436	5 936	(952)	0	0	0	0	0	0	490	(150)	(350)	(750)	(1 240)	(1 500)	(1 300)	(919)	(919)	(519)	0	(500)	(1 000)	(500)	0	(483)	17	3 961	0	5 919	5 804	1 860	3 840	1 697	1 812	2 802	822	2 297	2 833	1 343
Cash Paid for Dividends	(192)	(195)	(197)	(199)	(205)	(209)	(213)	(261)	(305)	(348)	(392)	(405)	(417)	(431)	(443)	(462)	(484)	(501)	(519)	(538)	(406)	(572)	(589)	(615)	(787)	(660)	(685)	(737)	(792)	(846)	(895)	(908)	(919)	(930)	(940)	0	(28)	(53)	(70)	(1 095)	(1 156)	(1 224)	(325)	(1 352)	(1 396)	(1 441)	(2 464)	(1 540)	(1 613)	(1 663)	(1 714)	(1 760)	(1 814)	(1 860)	(1 901)	(1 932)	(1 967)	(2 001)	(2 023)	(2 048)	(2 059)	(2 083)	(2 121)	(2 163)	(2 205)	(2 250)	(2 297)	(2 347)	(2 399)	(2 451)	(2 503)	(2 556)	(2 611)	(2 660)	(2 711)	(2 764)	(2 810)	(2 860)	(2 906)	(2 940)	(2 968)	(2 991)	(3 012)	(3 016)	(3 033)	(3 047)	(3 055)	(3 056)	(3 052)	(3 046)	(3 048)	(3 059)	(3 075)	(3 094)	(3 110)	(3 131)
Other	0	0	0	0	0	0	(175)	(175)	0	0	0	(163)	0	0	(163)	0	0	0	(353)	(224)	0	0	129	124	0	167	214	92	0	62	18	105	0	45	42	(59)	(47)	(9)	(58)	(48)	2	30	(314)	(166)	(188)	(215)	156	(81)	(70)	(48)	(39)	38	11	(39)	(9)	5	(146)	(157)	1 596	1 639	1 683	1 751	(46)	(141)	(194)	(199)	(178)	(163)	(70)	(86)	(72)	(72)	(100)	(129)	(145)	(144)	(115)	(101)	(100)	(89)	(135)	(144)	(140)	(115)	(130)	(106)	(106)	(135)	(122)	(123)	(121)	(182)	(180)	(211)	(213)	(154)
Cash from Financing Activities	(2 428) N/A	(1 148) +53%	(40) +97%	77 N/A	(978) N/A	(1 708) -75%	(1 880) -10%	(2 076) -10%	(1 211) +42%	(1 076) +11%	(1 136) -6%	(2 166) -91%	(2 204) -2%	(2 001) +9%	(2 401) -20%	(1 511) +37%	(2 008) -33%	(2 655) -32%	(2 626) +1%	(2 460) +6%	(2 431) +1%	(2 373) +2%	(2 151) +9%	(2 300) -7%	(2 501) -9%	(2 555) -2%	(3 565) -40%	(3 938) -10%	(3 846) +2%	(3 598) +6%	(2 792) +22%	(1 432) +49%	(1 452) -1%	(1 770) -22%	(1 706) +4%	0 N/A	205 N/A	(54) N/A	1 184 N/A	(2 144) N/A	(1 967) +8%	(1 130) +43%	(1 047) +7%	(2 068) -98%	(2 457) -19%	(2 705) -10%	(4 129) -53%	(2 706) +34%	(3 271) -21%	(3 116) +5%	(3 302) -6%	(3 314) 0%	(812) +75%	(1 728) -113%	(2 129) -23%	4 277 N/A	1 944 -55%	1 889 -3%	3 645 +93%	(3 457) N/A	(3 420) +1%	(2 979) +13%	(4 558) -53%	(4 305) +6%	(4 198) +2%	(4 060) +3%	(3 312) +18%	(4 152) -25%	(4 325) -4%	(4 669) -8%	(5 191) -11%	(5 328) -3%	(5 686) -7%	(5 423) +5%	(5 365) +1%	(4 527) +16%	(4 788) -6%	(5 046) -5%	(6 006) -19%	(7 616) -27%	(8 690) -14%	(8 561) +1%	(8 916) -4%	(7 070) +21%	(5 602) +21%	(4 028) +28%	(4 563) -13%	(7 331) -61%	(5 834) +20%	(8 072) -38%	(7 057) +13%	(4 139) +41%	(5 883) -42%	(4 108) +30%	(3 740) +9%	(4 942) -32%
Change in Cash
Effect of Foreign Exchange Rates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	18	0	0	0	3	5	8	(15)	(56)	(58)	(29)	(14)	0	10	(27)	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Change in Cash	(1 022) N/A	1 207 N/A	1 689 +40%	1 826 +8%	723 -60%	(520) N/A	(1 655) -218%	(1 728) -4%	34 N/A	334 +882%	988 +196%	50 -95%	603 +1 106%	819 +36%	317 -61%	1 184 +274%	(45) N/A	(106) -136%	(852) -704%	(332) +61%	78 N/A	34 -56%	788 +2 218%	736 -7%	21 -97%	206 +881%	(631) N/A	(480) +24%	(415) +14%	(542) -31%	246 N/A	223 -9%	928 +316%	74 -92%	(29) N/A	0 N/A	185 N/A	657 +255%	2 039 +210%	1 321 -35%	161 -88%	534 +232%	(982) N/A	(1 684) -71%	(453) +73%	(957) -111%	(921) +4%	719 N/A	199 -72%	591 +197%	302 -49%	(1 171) N/A	222 N/A	(234) N/A	337 N/A	(356) N/A	(2 034) -471%	(1 933) +5%	(405) +79%	747 N/A	764 +2%	1 183 +55%	46 -96%	1 024 +2 126%	177 -83%	(1 271) N/A	(2 044) -61%	(2 089) -2%	(1 402) +33%	(14) +99%	1 642 N/A	742 -55%	997 +34%	1 688 +69%	1 046 -38%	1 646 +57%	945 -43%	(110) N/A	(858) -680%	444 N/A	(1 050) N/A	(970) +8%	(297) +69%	(1 057) -256%	557 N/A	1 898 +241%	1 121 -41%	(1 105) N/A	350 N/A	(1 150) N/A	(400) +65%	1 041 N/A	(987) N/A	(1 230) -25%	319 N/A	1 638 +413%
Free Cash Flow
Free Cash Flow	552 N/A	1 489 +170%	1 656 +11%	1 626 -2%	1 769 +9%	1 526 -14%	601 -61%	1 122 +87%	1 612 +44%	1 471 -9%	2 257 +53%	2 155 -5%	2 658 +23%	2 656 0%	2 489 -6%	2 329 -6%	1 957 -16%	2 827 +44%	2 550 -10%	2 872 +13%	3 183 +11%	2 969 -7%	3 216 +8%	3 298 +3%	2 676 -19%	2 760 +3%	2 878 +4%	3 495 +21%	3 805 +9%	3 456 -9%	3 871 +12%	2 321 -40%	2 792 +20%	2 917 +4%	2 017 -31%	0 N/A	32 N/A	(366) N/A	(398) -9%	3 266 N/A	2 004 -39%	1 978 -1%	671 -66%	619 -8%	2 271 +267%	2 048 -10%	3 736 +82%	3 710 -1%	3 728 +0%	4 108 +10%	4 204 +2%	3 021 -28%	1 863 -38%	2 108 +13%	2 647 +26%	4 162 +57%	4 839 +16%	5 005 +3%	4 758 -5%	4 126 -13%	4 106 0%	4 134 +1%	4 587 +11%	5 299 +16%	4 219 -20%	2 617 -38%	1 107 -58%	1 860 +68%	2 823 +52%	4 578 +62%	6 738 +47%	5 827 -14%	6 469 +11%	6 889 +6%	6 179 -10%	6 417 +4%	5 863 -9%	4 974 -15%	5 123 +3%	7 699 +50%	7 374 -4%	7 451 +1%	8 558 +15%	6 132 -28%	6 260 +2%	6 004 -4%	5 803 -3%	6 229 +7%	6 216 0%	6 951 +12%	6 507 -6%	5 287 -19%	4 985 -6%	3 329 -33%	4 593 +38%	6 908 +50%

Income Statement Balance Sheet Cash Flow Statement

Lockheed Martin Corp
BMV:LMT

Cash Flow Statement

Cash Flow Statement
Lockheed Martin Corp

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Lockheed Martin Corp BMV:LMT

Cash Flow Statement

Cash Flow Statement Lockheed Martin Corp

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Company

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Lockheed Martin Corp
BMV:LMT

Cash Flow Statement
Lockheed Martin Corp