LOCKHEED MARTIN CORPORATION (LMT) FY2026 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-03-29

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LOCKHEED MARTIN CORPORATION cash flow reconciliation, Jan 1, 2026 through Mar 29, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net earnings → Net cash from operating activities: $220,000,000.00Net earnings → Operating adjustments reconciliation: $1,268,000,000.00Receivables, net → Operating adjustments reconciliation: $1,579,000,000.00Accounts payable → Operating adjustments reconciliation: $1,222,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $398,000,000.00Deferred income taxes → Operating adjustments reconciliation: $161,000,000.00Income taxes → Operating adjustments reconciliation: $103,000,000.00Qualified defined benefit pension plans → Operating adjustments reconciliation: $92,000,000.00Stock-based compensation → Operating adjustments reconciliation: $83,000,000.00Operating adjustments reconciliation → Contract assets: $2,884,000,000.00Operating adjustments reconciliation → Inventories: $727,000,000.00Operating adjustments reconciliation → Contract liabilities: $705,000,000.00Operating adjustments reconciliation → Other, net: $590,000,000.00investing reconciliation → Capital expenditures: $511,000,000.00investing reconciliation → Other, net: $30,000,000.00Net cash used in financing activities → financing reconciliation: $1,906,000,000.00financing reconciliation → Repayments of long-term debt: $1,000,000,000.00financing reconciliation → Dividends paid: $816,000,000.00financing reconciliation → Other, net: $90,000,000.00Net cash used in investing activities → investing reconciliation: $541,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $4,121,000,000.00Net cash from operating activities → Cash sources and uses: $220,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $1,894,000,000.00Cash sources and uses → Net cash used in investing activities: $541,000,000.00Cash sources and uses → Net cash used in financing activities: $1,906,000,000.00Net earnings: $1,488,000,000.00Net earnings+$1.49 BDepreciation and amortization: $398,000,000.00D&A and accretion+$398.00 MStock-based compensation: $83,000,000.00Stock-based compensation+$83.00 MDeferred income taxes: $161,000,000.00Deferred income taxes+$161.00 MQualified defined benefit pension plans: $92,000,000.00Pension benefit cost, net+$92.00 MReceivables, net: $1,579,000,000.00Receivables, net+$1.58 BContract assets: -$2,884,000,000.00Contract assets−$2.88 BInventories: -$727,000,000.00Inventories−$727.00 MAccounts payable: $1,222,000,000.00Accounts payable+$1.22 BContract liabilities: -$705,000,000.00Deferred revenue−$705.00 MIncome taxes: $103,000,000.00Income taxes payable+$103.00 MOther, net: -$590,000,000.00Other operating, net−$590.00 MNet cash from operating activities: $220,000,000.00Operating cash+$220.00 MOperating adjustments reconciliation: $4,906,000,000.00Repayments of long-term debt: -$1,000,000,000.00Long-term debt repaid−$1.00 BRepurchases of common stock: $0.00Dividends paid: -$816,000,000.00Common dividends paid−$816.00 MOther, net: -$90,000,000.00Other financing, net−$90.00 MNet cash used in financing activities: -$1,906,000,000.00. Cash required to fund net payments.Financing cash−$1.91 Bfinancing reconciliation: $1,906,000,000.00Capital expenditures: -$511,000,000.00Capital expenditures−$511.00 MOther, net: -$30,000,000.00Other investing, net−$30.00 MNet cash used in investing activities: -$541,000,000.00. Cash required to fund net payments.Investing cash−$541.00 Minvesting reconciliation: $541,000,000.00Cash sources and uses: $4,341,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $4,121,000,000.00Beginning cash$4.12 BEnding cash: Cash, cash equivalents, and restricted cash: $1,894,000,000.00Ending cash$1.89 BCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow−$291.00 MOperating cash − cash spent on productive assetsCash flow / Net income0.15×Operating cash flow ÷ net incomeNet cash change−$2.23 BEnding cash − beginning cash
Chart details

LOCKHEED MARTIN CORPORATION cash flow reconciliation, Jan 1, 2026 through Mar 29, 2026

Cash flows for Jan 1, 2026 through Mar 29, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Mar 29, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
4,121,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
220,000,000 US dollars. Net cash provided.
Net earnings
1,488,000,000 US dollars
Depreciation and amortization
398,000,000 US dollars
Stock-based compensation
83,000,000 US dollars
Deferred income taxes
161,000,000 US dollars
Qualified defined benefit pension plans
92,000,000 US dollars
Receivables, net
1,579,000,000 US dollars
Contract assets
negative 2,884,000,000 US dollars
Inventories
negative 727,000,000 US dollars
Accounts payable
1,222,000,000 US dollars
Contract liabilities
negative 705,000,000 US dollars
Income taxes
103,000,000 US dollars
Other, net
negative 590,000,000 US dollars
Investing activities
negative 541,000,000 US dollars. Net cash used.
Capital expenditures
negative 511,000,000 US dollars
Other, net
negative 30,000,000 US dollars
Financing activities
negative 1,906,000,000 US dollars. Net cash used.
Repayments of long-term debt
negative 1,000,000,000 US dollars
Repurchases of common stock
0 US dollars
Dividends paid
negative 816,000,000 US dollars
Other, net
negative 90,000,000 US dollars
Operating adjustment reconciliation
4,906,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
1,906,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
541,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Mar 29, 2026
1,894,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
4,341,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 2,227,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.15×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
220,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
cash spent on productive assets
511,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 291,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income exceeds operating cash. The diagram allocates $220.00M of net income directly to operating cash and $1.27B to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash spent on productive assets equals free cash flow: 220,000,000 US dollars minus 511,000,000 US dollars equals negative 291,000,000 US dollars.
LOCKHEED MARTIN CORPORATION (LMT) FY2026 Q1 Statement of Cash Flows Sankey chart
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