LOCKHEED MARTIN CORPORATION (LMT) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-28

Swipe to see the full flow
LOCKHEED MARTIN CORPORATION cash flow reconciliation, Jan 1, 2026 through Jun 28, 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: $3,324,000,000.00Accounts payable → Operating adjustments reconciliation: $1,409,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $798,000,000.00Contract liabilities → Operating adjustments reconciliation: $711,000,000.00Receivables, net → Operating adjustments reconciliation: $545,000,000.00Deferred income taxes → Operating adjustments reconciliation: $538,000,000.00Qualified defined benefit pension plans → Operating adjustments reconciliation: $184,000,000.00Stock-based compensation → Operating adjustments reconciliation: $180,000,000.00Income taxes → Operating adjustments reconciliation: $43,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $131,000,000.00Operating adjustments reconciliation → Contract assets: $3,037,000,000.00Operating adjustments reconciliation → Inventories: $887,000,000.00Operating adjustments reconciliation → Other, net: $353,000,000.00Net cash used in investing activities → investing reconciliation: $890,000,000.00investing reconciliation → Capital expenditures: $829,000,000.00investing reconciliation → Other, net: $61,000,000.00Net cash used in financing activities → financing reconciliation: $2,895,000,000.00financing reconciliation → Dividends paid: $1,612,000,000.00financing reconciliation → Repayments of long-term debt: $1,168,000,000.00financing reconciliation → Other, net: $115,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $4,121,000,000.00Net cash from operating activities → Cash sources and uses: $3,455,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $3,791,000,000.00Cash sources and uses → Net cash used in investing activities: $890,000,000.00Cash sources and uses → Net cash used in financing activities: $2,895,000,000.00Net earnings: $3,324,000,000.00Net earnings+$3.32 BDepreciation and amortization: $798,000,000.00D&A and accretion+$798.00 MStock-based compensation: $180,000,000.00Stock-based compensation+$180.00 MDeferred income taxes: $538,000,000.00Deferred income taxes+$538.00 MImpairment and other charges: $0.00Reach-forward losses on select programs: $0.00Qualified defined benefit pension plans: $184,000,000.00Pension benefit cost, net+$184.00 MReceivables, net: $545,000,000.00Receivables, net+$545.00 MContract assets: -$3,037,000,000.00Contract assets−$3.04 BInventories: -$887,000,000.00Inventories−$887.00 MAccounts payable: $1,409,000,000.00Accounts payable+$1.41 BContract liabilities: $711,000,000.00Deferred revenue+$711.00 MIncome taxes: $43,000,000.00Income taxes payable+$43.00 MOther, net: -$353,000,000.00Other operating, net−$353.00 MNet cash from operating activities: $3,455,000,000.00Operating cash+$3.46 BOperating adjustments reconciliation: $4,408,000,000.00Repayments of long-term debt: -$1,168,000,000.00Long-term debt repaid−$1.17 BProceeds from commercial paper, net: $0.00Repurchases of common stock: $0.00Dividends paid: -$1,612,000,000.00Common dividends paid−$1.61 BOther, net: -$115,000,000.00Other financing, net−$115.00 MNet cash used in financing activities: -$2,895,000,000.00. Cash required to fund net payments.Financing cash−$2.90 Bfinancing reconciliation: $2,895,000,000.00Capital expenditures: -$829,000,000.00Capital expenditures−$829.00 MOther, net: -$61,000,000.00Other investing, net−$61.00 MNet cash used in investing activities: -$890,000,000.00. Cash required to fund net payments.Investing cash−$890.00 Minvesting reconciliation: $890,000,000.00Cash sources and uses: $7,576,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $4,121,000,000.00Beginning cash$4.12 BEnding cash: Cash, cash equivalents, and restricted cash: $3,791,000,000.00Ending cash$3.79 BCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$2.63 BOperating cash − cash spent on productive assetsCash flow / Net income1.04×Operating cash flow ÷ net incomeNet cash change−$330.00 MEnding cash − beginning cash
Chart details

LOCKHEED MARTIN CORPORATION cash flow reconciliation, Jan 1, 2026 through Jun 28, 2026

Cash flows for Jan 1, 2026 through Jun 28, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Jun 28, 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
3,455,000,000 US dollars. Net cash provided.
Net earnings
3,324,000,000 US dollars
Depreciation and amortization
798,000,000 US dollars
Stock-based compensation
180,000,000 US dollars
Deferred income taxes
538,000,000 US dollars
Impairment and other charges
0 US dollars
Reach-forward losses on select programs
0 US dollars
Qualified defined benefit pension plans
184,000,000 US dollars
Receivables, net
545,000,000 US dollars
Contract assets
negative 3,037,000,000 US dollars
Inventories
negative 887,000,000 US dollars
Accounts payable
1,409,000,000 US dollars
Contract liabilities
711,000,000 US dollars
Income taxes
43,000,000 US dollars
Other, net
negative 353,000,000 US dollars
Investing activities
negative 890,000,000 US dollars. Net cash used.
Capital expenditures
negative 829,000,000 US dollars
Other, net
negative 61,000,000 US dollars
Financing activities
negative 2,895,000,000 US dollars. Net cash used.
Repayments of long-term debt
negative 1,168,000,000 US dollars
Proceeds from commercial paper, net
0 US dollars
Repurchases of common stock
0 US dollars
Dividends paid
negative 1,612,000,000 US dollars
Other, net
negative 115,000,000 US dollars
Operating adjustment reconciliation
4,408,000,000 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
2,895,000,000 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
890,000,000 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 Jun 28, 2026
3,791,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
7,576,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 330,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.04×. 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
3,455,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
cash spent on productive assets
829,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
2,626,000,000 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 enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $131.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced 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: 3,455,000,000 US dollars minus 829,000,000 US dollars equals 2,626,000,000 US dollars.
LOCKHEED MARTIN CORPORATION (LMT) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!