# LOCKHEED MARTIN CORPORATION (LMT) FY2024 Annual P&L / Income Statement - Company: LOCKHEED MARTIN CORPORATION (LMT) - Period: 2024-01-01 to 2024-12-31 - Filing: FY2024 10-K, filed 2025-01-28, accession number 0000936468-25-000009 - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-income-statement-sankey.png ## Chart details: Revenue by Product and Service Income statement for 2024-01-01 through 2024-12-31. View: Product and service. Revenue and costs use their disclosed categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **Products revenue**: 59,277,000,000 US dollars - **Services revenue**: 11,766,000,000 US dollars - **Products cost of revenue**: 54,852,000,000 US dollars - **Services cost of revenue**: 10,217,000,000 US dollars - **Impairment and severance charges**: 87,000,000 US dollars - **Other unallocated, net**: negative 1,043,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income. ## Chart details: Revenue by Geography - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement/revenue-by-geography - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-revenue-by-geography-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Geography. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **UNITED STATES**: 52,528,000,000 US dollars - **Europe**: 7,716,000,000 US dollars - **Asia Pacific**: 6,241,000,000 US dollars - **Middle East**: 3,075,000,000 US dollars - **Other**: 1,483,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income. ## Chart details: Revenue by Basis of Pricing - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement/revenue-by-basis-of-pricing - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-revenue-by-basis-of-pricing-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Contract with Customer, Basis of Pricing. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **Fixed-price**: 42,728,000,000 US dollars - **Cost-reimbursable**: 28,315,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income. ## Chart details: Revenue by Business Segment - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement/revenue-by-business-segment - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-revenue-by-business-segment-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Business segment. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **Aeronautics**: 28,618,000,000 US dollars - **Missiles and Fire Control**: 12,682,000,000 US dollars - **Rotary and Mission Systems**: 17,264,000,000 US dollars - **Space**: 12,479,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars - **Aeronautics costs (calculated)**: 26,095,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses. - **Missiles and Fire Control costs (calculated)**: 12,269,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses. - **Rotary and Mission Systems costs (calculated)**: 15,343,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses. - **Space costs (calculated)**: 11,253,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses. - **Reconciling items (calculated)**: negative 930,000,000 US dollars. Segment revenue less segment operating income; it includes cost of revenue and operating expenses. ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income. ## Chart details: Revenue by Business Segment by Customer - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement/revenue-by-business-segment-by-customer - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-revenue-by-business-segment-by-customer-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Business segment by customer. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **Aeronautics - International**: 9,182,000,000 US dollars - **Aeronautics - U.S. Government**: 19,314,000,000 US dollars - **Aeronautics - U.S. commercial and other**: 122,000,000 US dollars - **Missiles And Fire Control - International**: 3,629,000,000 US dollars - **Missiles And Fire Control - U.S. Government**: 9,043,000,000 US dollars - **Missiles And Fire Control - U.S. commercial and other**: 10,000,000 US dollars - **Rotary and Mission Systems - International**: 5,463,000,000 US dollars - **Rotary and Mission Systems - U.S. Government**: 11,469,000,000 US dollars - **Rotary and Mission Systems - U.S. commercial and other**: 332,000,000 US dollars - **Space - International**: 241,000,000 US dollars - **Space - U.S. Government**: 12,218,000,000 US dollars - **Space - U.S. commercial and other**: 20,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income. ## Chart details: Revenue by Customer - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement/revenue-by-customer - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-revenue-by-customer-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Customer. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **U.S. Government**: 52,044,000,000 US dollars - **International**: 18,515,000,000 US dollars - **U.S. commercial and other**: 484,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income. ## Chart details: Revenue by Business Segment by Product and Service - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement/revenue-by-business-segment-by-product-and-service - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-revenue-by-business-segment-by-product-and-service-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Segments by Product and Service. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **Aeronautics - Products**: 23,598,000,000 US dollars - **Aeronautics - Services**: 5,020,000,000 US dollars - **Missiles And Fire Control - Products**: 11,275,000,000 US dollars - **Missiles And Fire Control - Services**: 1,407,000,000 US dollars - **Rotary and Mission Systems - Products**: 14,005,000,000 US dollars - **Rotary and Mission Systems - Services**: 3,259,000,000 US dollars - **Space - Products**: 10,399,000,000 US dollars - **Space - Services**: 2,080,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income. ## Chart details: Revenue by Business Segment by Basis of Pricing - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement/revenue-by-business-segment-by-basis-of-pricing - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-revenue-by-business-segment-by-basis-of-pricing-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Segments by Contract with Customer, Basis of Pricing. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **Aeronautics - Cost-reimbursable**: 9,015,000,000 US dollars - **Aeronautics - Fixed-price**: 19,603,000,000 US dollars - **Missiles And Fire Control - Cost-reimbursable**: 3,908,000,000 US dollars - **Missiles And Fire Control - Fixed-price**: 8,774,000,000 US dollars - **Rotary and Mission Systems - Cost-reimbursable**: 6,394,000,000 US dollars - **Rotary and Mission Systems - Fixed-price**: 10,870,000,000 US dollars - **Space - Cost-reimbursable**: 8,998,000,000 US dollars - **Space - Fixed-price**: 3,481,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income. ## Chart details: Revenue by Business Segment by Geography - Page: https://plicit.ai/financials/lmt/fy2024-annual-income-statement/revenue-by-business-segment-by-geography - Chart image: https://plicit.ai/charts/lmt-fy2024-annual-revenue-by-business-segment-by-geography-sankey.png Income statement for 2024-01-01 through 2024-12-31. View: Segments by Geographical. Revenue uses this breakdown; costs and expenses retain the consolidated categories. - **Total net sales**: 71,043,000,000 US dollars - **Total cost of sales**: 64,113,000,000 US dollars - **Gross profit**: 6,930,000,000 US dollars - **Operating costs, net of other operating income (calculated)**: negative 83,000,000 US dollars - **Operating profit**: 7,013,000,000 US dollars - **Other income (expense), net (calculated)**: negative 793,000,000 US dollars - **Earnings before income taxes**: 6,220,000,000 US dollars - **Income tax expense**: 884,000,000 US dollars - **Net earnings**: 5,336,000,000 US dollars - **Aeronautics - UNITED STATES**: 19,436,000,000 US dollars - **Aeronautics - Other**: 540,000,000 US dollars - **Aeronautics - Asia Pacific**: 2,763,000,000 US dollars - **Aeronautics - Europe**: 5,071,000,000 US dollars - **Aeronautics - Middle East**: 808,000,000 US dollars - **Missiles And Fire Control - UNITED STATES**: 9,053,000,000 US dollars - **Missiles And Fire Control - Other**: 66,000,000 US dollars - **Missiles And Fire Control - Asia Pacific**: 763,000,000 US dollars - **Missiles And Fire Control - Europe**: 1,327,000,000 US dollars - **Missiles And Fire Control - Middle East**: 1,473,000,000 US dollars - **Rotary and Mission Systems - UNITED STATES**: 11,801,000,000 US dollars - **Rotary and Mission Systems - Other**: 877,000,000 US dollars - **Rotary and Mission Systems - Asia Pacific**: 2,556,000,000 US dollars - **Rotary and Mission Systems - Europe**: 1,243,000,000 US dollars - **Rotary and Mission Systems - Middle East**: 787,000,000 US dollars - **Space - UNITED STATES**: 12,238,000,000 US dollars - **Space - Other**: 0 US dollars - **Space - Asia Pacific**: 159,000,000 US dollars - **Space - Europe**: 75,000,000 US dollars - **Space - Middle East**: 7,000,000 US dollars - **is.operating_expenses**: 0 US dollars - **Other income, net**: negative 83,000,000 US dollars ### Chart connections - Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income. - Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.