| Period End | Type | Status | Affected | % Workforce | Announced | Expected Completion | Geography | Segment / Function | Charge | Source | Note |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-28 | acquisition_addition | announced | 2026-07-06 | 2026-12-31 | Global | Undersea warfare / anti-submarine capabilities (to be determined) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement to acquire Ultra Maritime Solutions for $3.45 billion, funded with cash and financing; expected to close Q4 2026. No headcount added disclosed. | |||
| 2025-12-31 | acquisition_addition | completed | 2025 | 2025 | Space | USD 360 (millions) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired Amentum's Rapid Solutions business in the second quarter of 2025 for $360 million in cash; the business operates within the Space segment (advanced space and airborne mission capabilities, including ISR technologies). Employee headcount added through the acquisition was not disclosed. | |||
| 2025-12-31 | acquisition_addition | completed | Space | USD 360 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cash acquisition of Amentum's Rapid Solutions business completed in Q2 2025; purchase price $360 million, headcount added not disclosed | |||||
| 2025-12-31 | restructuring | completed | 2025-06-30 | 2025-12-31 | Global | Corporate and Business Segments | USD 92 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Severance and other charges associated with planned reduction of certain positions across the corporation to improve operational efficiency. Majority of payments have been made. | ||
| 2025-12-31 | acquisition_addition | completed | 2025-06-30 | 2025-06-30 | United States | Space | business_combinations_footnote f5-10k / Qwen3.6-27B-Q8_0 | Acquisition of Amentum's Rapid Solutions business for $360 million. Headcount not explicitly disclosed. | |||
| 2025-09-28 | restructuring | completed | 2025-04-01 | 2025-06-30 | Corporate / Sikorsky | USD 87 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Charges recorded in Q2 2025 for trademark and fixed asset impairments and severance costs resulting from strategic review of Sikorsky business due to FARA program cancellation. | |||
| 2025-06-29 | acquisition_addition | completed | 2025-06-26 | 2025-06-26 | United States | Space | USD 360 (millions) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Amentum's Rapid Solutions business closed 2025-06-26 for $360M cash; $195M goodwill recorded at Space segment. Headcount added not disclosed. | ||
| 2025-06-29 | restructuring | completed | 2024-06-30 | Sikorsky | USD 87 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Charges recorded in Q2 2024 for trademark and fixed asset impairments and severance costs resulting from strategic review of Sikorsky business due to FARA program cancellation. | ||||
| 2024-12-31 | restructuring | completed | 2024 | Rotary and Mission Systems (Sikorsky business) | USD 87 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Severance recorded in Q2 2024 after a strategic review of Sikorsky, driven partly by the U.S. Army's cancellation of the FARA program; charge also includes trademark and fixed asset impairments ($69 million after-tax); affected headcount not disclosed. | ||||
| 2024-12-31 | acquisition_addition | completed | 2024-10-30 | Space | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired Terran Orbital Corporation for $314 million purchase consideration (including $83 million of previously held investment); acquired headcount not disclosed; results consolidated post-acquisition within the Space segment. | |||||
| 2024-12-31 | divestiture_reduction | completed | 2024-09-09 | Aeronautics (Commercial Engine Solutions) | MD&A f5-10k / GLM-5.3-flash-HTML | Sale of the CES business completed September 9, 2024 for $170 million cash; transferred headcount not disclosed; gains not significant and results not reclassified to discontinued operations. | |||||
| 2024-12-31 | restructuring | in_progress | 2024-06 | United States | Rotary and Mission Systems (Sikorsky) | USD 87 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2024 charges of $87M ($69M after-tax) for trademark and fixed asset impairments plus severance from the strategic review of Sikorsky, partly driven by the U.S. Army's cancellation of the FARA program; number of employees affected not disclosed | |||
| 2024-12-31 | acquisition_addition | completed | 2024-10-30 | 2024-10-30 | United States | Space | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Terran Orbital Corporation closed 2024-10-30 for $314M purchase consideration; headcount added through the acquisition not disclosed | |||
| 2024-12-31 | restructuring | completed | 2024-06-30 | Global | Sikorsky (RMS) | USD 87 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Strategic review of Sikorsky business due to FARA program cancellation. Charge includes severance and impairments. Employee count not disclosed. | |||
| 2024-12-31 | acquisition_addition | completed | 2024-10-30 | Global | Space | business_combinations_footnote f5-10k / Qwen3.6-27B-Q8_0 | Acquisition of Terran Orbital Corporation. Headcount added not disclosed. | ||||
| 2024-12-31 | divestiture_reduction | completed | 2024-09-09 | Global | Aeronautics | discontinued_operations_footnote f5-10k / Qwen3.6-27B-Q8_0 | Sale of Commercial Engine Solutions (CES) business. Headcount removed not disclosed. | ||||
| 2024-09-29 | restructuring | completed | Sikorsky (Rotary and Mission Systems) | USD 87 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges recorded in Q2 2024 for trademark and fixed asset impairments plus severance costs from a strategic review of the Sikorsky business, partly due to the U.S. Army's cancellation of the FARA program. No employee count disclosed. | |||||
| 2024-09-29 | restructuring | in_progress | 2024-06-30 | United States | Rotary and Mission Systems (Sikorsky) | USD 87 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Charge of $87M ($69M after-tax) recorded in Q2 2024 for trademark and fixed asset impairments plus severance costs from the strategic review of the Sikorsky business, partly driven by the U.S. Army's FARA program cancellation. Severance portion not separately quantified; no employee count disclosed. | |||
| 2024-09-29 | other | announced | 2024-10-05 | Türkiye | Rotary and Mission Systems (Türkish Utility Helicopter Program) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Partial stop-work on TUHP contracts effective October 5, 2024 due to U.S. sanctions on Turkish entities. No employee count or charge disclosed; program remains in a contract liability position. | ||||
| 2024-09-29 | restructuring | completed | 2024-06-30 | Sikorsky | USD 87 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges recorded in Q2 2024 for trademark and fixed asset impairments and severance costs resulting from strategic review of Sikorsky business due to U.S. Army cancellation of FARA program. | ||||
| 2024-06-30 | restructuring | completed | Sikorsky (RMS) | USD 87 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges of $87 million ($69 million after-tax, $0.29 per share) for trademark and fixed asset impairments plus severance costs from a strategic review of the Sikorsky business, driven in part by the U.S. Army's cancellation of the FARA program. Employee count affected not disclosed. | |||||
| 2024-06-30 | restructuring | in_progress | 2024-04-01 | United States | Rotary and Mission Systems (Sikorsky) | USD 87 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q2 2024 charges of $87M ($69M after-tax) for trademark and fixed asset impairments plus severance costs from a strategic review of the Sikorsky business, driven in part by the U.S. Army's cancellation of the FARA program. No employee count disclosed. | |||
| 2024-06-30 | other | completed | 2024-06-21 | 2024-07-03 | United States | Rotary and Mission Systems (Sikorsky / Derco / SSSI) | USD 70 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Settlement of False Claims Act litigation with $70M payment to the U.S. Government; immaterial charge to Q2 2024 earnings. Included as a material legal/labor-adjacent event; no workforce headcount impact disclosed. | ||
| 2024-06-30 | restructuring | completed | 2024-06-30 | 2024-06-30 | Global | Sikorsky | USD 87 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges of $87 million ($69 million after-tax) for trademark and fixed asset impairments as well as severance costs resulting from strategic review of Sikorsky business due to U.S. Army cancellation of FARA program. | ||
| 2023-12-31 | restructuring | in_progress | 2023 | Not disclosed; described as across the corporation | Business segments and corporate functions | USD 92 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charge recorded in Q4 2023 for a planned reduction of certain positions, bundled with asset impairment charges (severance-only portion not separately quantified). Severance is paid as lump sums largely based on tenure, with the majority expected to be paid over the several quarters following year-end 2023. No employee headcount affected was disclosed. Action also discussed in MD&A (deduplicated here). | |||
| 2023-12-31 | restructuring | in_progress | United States | Across the corporation (business segments and corporate functions) | USD 92 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Recorded in Q4 2023 ($73M after-tax, $0.30/share); covers planned reduction of certain positions plus asset impairment charges. Lump-sum severance payable over the next several quarters; headcount not disclosed. Action resulted from a review of business segments and corporate functions. | ||||
| 2023-12-31 | restructuring | completed | 2023-10-01 | Global | Corporate and Business Segments | USD 92 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Fourth quarter 2023 charges for planned reduction of certain positions across the corporation and asset impairment. Majority of severance payments expected over next several quarters. | |||
| 2023-12-31 | restructuring | in_progress | Segment Reconciling Items [Member] | USD 92,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2022-12-31 | restructuring | completed | Rotary and Mission Systems (RMS) | USD 100 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Fourth-quarter 2022 charges for severance from position reductions plus asset impairment charges, following a strategic review of RMS; employee count and completion timeline not disclosed. | |||||
| 2022-12-31 | restructuring | in_progress | 2022-10-01 | United States | Rotary and Mission Systems | USD 100 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Recorded in Q4 2022 following a strategic review of RMS; includes severance for reduction of positions and asset impairment charges. After-tax impact $79 million ($0.31 per share). No employee count or completion date disclosed. | |||
| 2022-12-31 | restructuring | completed | 2022-10-25 | Rotary and Mission Systems | USD 100 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Fourth quarter 2022 charges of $100 million related to actions at RMS, including severance costs for reduction of positions and asset impairment charges. Employee count not explicitly disclosed. | ||||
| 2022-12-31 | restructuring | in_progress | Segment Reconciling Items [Member] | USD 100,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2022-06-26 | other | completed | 5,000 | Fort Worth, Texas | Aeronautics (F-35 production) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | New four-year labor agreement negotiated with the International Association of Machinists and Aerospace Workers in Q2 2022 covering approximately 5,000 represented employees primarily working on F-35 production. | ||||
| 2022-03-27 | other | announced | 5,000 | 2022-04-24 | Fort Worth, Texas, United States | Aeronautics (F-35 production) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Five-year collective bargaining agreement with the International Association of Machinists and Aerospace Workers covering approximately 5,000 represented employees expires April 24, 2022; negotiations ongoing. Company notes work stoppages could adversely affect contract performance and results. Count is approximate and refers to represented employees, not total workforce. | |||
| 2022-03-27 | other | announced | 5,000 | 2022-04-24 | United States — Fort Worth, Texas | Aeronautics — F-35 production | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Five-year collective bargaining agreement with IAM covering approximately 5,000 represented employees concludes April 24, 2022; negotiations ongoing. Company warns potential work stoppages could adversely affect results. | |||
| 2022-03-27 | restructuring | completed | Rotary and Mission Systems | USD 0 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | No severance or restructuring charges recorded in Q1 2022. Prior Q1 2021 charges of $36M related to RMS workforce reductions and facility exits. | |||||
| 2022-03-27 | other | in_progress | 5,000 | 2022-04-24 | Fort Worth, Texas | Aeronautics | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Five-year contract with IAM covering approx. 5,000 employees concludes April 24, 2022. Negotiations ongoing; potential work stoppages could adversely affect operations. | |||
| 2021-12-31 | restructuring | in_progress | Rotary and Mission Systems (RMS) | USD 36 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Severance and restructuring charges of $36 million pre-tax ($28 million, or $0.10 per share, after-tax) recognized during fiscal 2021 for workforce reductions and facility exit costs within RMS, associated with plans to close and consolidate certain facilities. No affected-employee count or completion timeline disclosed. Prior-year (2020) $27 million corporate severance charge excluded as comparative. | |||||
| 2021-12-31 | divestiture_reduction | completed | 2021-06-30 | 2021-06-30 | United Kingdom | Space | MD&A f5-10k / GLM-5.3-flash-HTML | UK Ministry of Defence terminated the contract to operate the UK nuclear deterrent program effective 2021-06-30 and assumed control of the majority-owned joint venture entity; the AWE program was removed from financial results as of that date. Affected headcount not disclosed; AWE contributed $885 million of net sales and $18 million of operating profit in 2021 through the termination date. | |||
| 2021-12-31 | restructuring | in_progress | United States | Rotary and Mission Systems | USD 36 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | After-tax impact $28 million ($0.10 per share). Number of employees affected not disclosed. Charge recorded during 2021. | ||||
| 2021-12-31 | divestiture_reduction | completed | 2021-06-30 | 2021-06-30 | United Kingdom | Space | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Renationalization of Atomic Weapons Establishment; AWE generated $885M sales and $18M operating profit in 2021 before removal. Headcount impact not disclosed. | |||
| 2021-12-31 | restructuring | completed | 2021-12-31 | 2021-12-31 | Global | Rotary and Mission Systems | USD 36 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Severance and restructuring charges of $36 million associated with plans to close and consolidate certain facilities and reduce total workforce within RMS segment. Employee count not explicitly disclosed. | ||
| 2021-12-31 | restructuring | in_progress | Segment Reconciling Items [Member] | USD 36,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2021-09-26 | restructuring | in_progress | 2021-01-01 | Rotary and Mission Systems | USD 36 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2021 charge of $36 million ($28 million after-tax) for plans to close and consolidate certain facilities and reduce total workforce within RMS; lump-sum severance paid primarily over several quarters. Employee count not disclosed. | ||||
| 2021-09-26 | divestiture_reduction | completed | 2021-06-30 | 2021-06-30 | United Kingdom | Space | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | UK Ministry of Defence renationalized the Atomic Weapons Establishment program on June 30, 2021; the managing entity is no longer included in results from Q3 2021. Headcount impact not disclosed. | |||
| 2021-09-26 | restructuring | in_progress | 2021-03-31 | United States | Rotary and Mission Systems (RMS) | USD 36 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Charge of $36M ($28M, or $0.10 per share, after-tax) recorded in Q1 2021 for plans to close and consolidate facilities and reduce total workforce in RMS; no employee count disclosed. Announcement date reflects first quarter of 2021 (exact date not stated). Majority of lump-sum severance payments expected over the following several quarters. | |||
| 2021-09-26 | divestiture_reduction | completed | 2021-06-30 | 2021-06-30 | United Kingdom | Space (Atomic Weapons Establishment program) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | UK Ministry of Defence terminated the AWE operating contract and assumed control of the managing entity on 2021-06-30; entity excluded from results beginning Q3 2021. Headcount removed not disclosed. | |||
| 2021-09-26 | restructuring | in_progress | 2021-01-01 | Rotary and Mission Systems | USD 36 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges associated with plans to close and consolidate certain facilities and reduce total workforce within RMS. Terminated employees to receive lump-sum severance payments primarily based on years of service. | ||||
| 2021-06-27 | restructuring | in_progress | 2021-03-28 | Rotary and Mission Systems | USD 36 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | First-quarter 2021 charges for plans to close and consolidate certain facilities and reduce total workforce within RMS; lump-sum severance based on years of service, majority to be paid over the next several quarters. Employee count not disclosed. | ||||
| 2021-06-27 | restructuring | in_progress | 2021-03-28 | United States | Rotary and Mission Systems (RMS) | USD 36 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Recorded in Q1 2021 (exact announcement date not disclosed; filer states only 'first quarter of 2021'). Plans to close and consolidate certain facilities and reduce total workforce in RMS; $28M ($0.10 per share) after tax. Lump-sum severance based on years of service, majority payable over the next several quarters. No employee count disclosed. | |||
| 2021-06-27 | restructuring | in_progress | 2021-01-01 | Rotary and Mission Systems | USD 36 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance and restructuring charges associated with plans to close and consolidate certain facilities and reduce total workforce within RMS. Terminated employees to receive lump-sum severance payments primarily based on years of service, majority paid over next several quarters. | ||||
| 2021-03-28 | restructuring | in_progress | Rotary and Mission Systems | USD 36 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Charges to close and consolidate certain facilities and reduce total workforce within RMS to improve efficiency and affordability; lump-sum severance paid primarily based on years of service, majority expected to be paid over the next several quarters. Employee count not disclosed. | |||||
| 2021-03-28 | restructuring | in_progress | Rotary and Mission Systems (RMS) | USD 36 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 2021 charge of $36M ($28M after-tax, $0.10/share) to close and consolidate facilities and reduce workforce in RMS; majority of severance expected to be paid over the next several quarters. No employee count disclosed. | |||||
| 2021-03-28 | restructuring | in_progress | 2021-03-28 | Rotary and Mission Systems | USD 36 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Actions taken to close and consolidate certain facilities and reduce total workforce within RMS to improve efficiency and affordability. Terminated employees receive lump-sum severance payments primarily based on years of service, majority expected to be paid over next several quarters. | ||||
| 2020-12-31 | restructuring | in_progress | 2020 | Corporate functions (primarily) | USD 27 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Charges recorded in Q4 2020 for planned elimination of certain positions; severance is lump-sum based on tenure, with the majority payable over several quarters after year-end. Number of positions affected not disclosed. | ||||
| 2020-12-31 | acquisition_addition | completed | 2020-11 | 2020-11 | Space | MD&A f5-10k / GLM-5.3-flash-HTML | Acquired i3 hypersonics portfolio in November 2020; goodwill of $173M recorded at Space. Combined cash paid with Allcomp acquisition ~$282M. Headcount added not disclosed. | ||||
| 2020-12-31 | acquisition_addition | completed | 2020 | 2020 | Aeronautics | MD&A f5-10k / GLM-5.3-flash-HTML | Acquired Allcomp Inc. in Q4 2020; goodwill of $16M recorded at Aeronautics. Combined cash paid with i3 acquisition ~$282M. Headcount added not disclosed. | ||||
| 2020-12-31 | acquisition_addition | announced | 2020-12-20 | 2021 | MD&A f5-10k / GLM-5.3-flash-HTML | Agreement to acquire Aerojet Rocketdyne at $56/share cash (reduced to $51 after pre-closing special dividend); post-dividend equity value ~$4.6B, transaction value ~$4.4B. Expected to close in H2 2021 subject to regulatory and shareholder approvals; headcount impact not disclosed. | |||||
| 2020-12-31 | divestiture_reduction | announced | 2020-11-02 | 2021-06-30 | United Kingdom | Space | Item_1_Business f5-10k / GLM-5.3-flash-HTML | UK MOD announced intent to re-nationalize the AWE nuclear deterrent program (51%-owned AWE Management JV; ~$1.4B of 2020 sales), removing AWE's workforce from the group after June 30, 2021; backlog reduced by $1.0B. Affected employee count not disclosed. | |||
| 2020-12-31 | restructuring | in_progress | Corporate functions | USD 27 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Planned elimination of certain positions, primarily corporate; $21M after-tax ($0.08 per share). Lump-sum payments based on years of service, majority expected over the following several quarters. Number of positions not disclosed. | |||||
| 2020-12-31 | acquisition_addition | announced | 2020-12-20 | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Agreement to acquire Aerojet Rocketdyne Holdings, Inc.; expected to close in second half of 2021 subject to regulatory and stockholder approvals. Transaction value approximately $4.4 billion. Headcount to be added not disclosed. | ||||||
| 2020-12-31 | restructuring | completed | 2020-12-31 | Global | Corporate Functions | USD 27 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Severance charges of $27 million related to planned elimination of certain positions primarily at corporate functions. Majority of payments expected over next several quarters. | |||
| 2020-12-31 | restructuring | in_progress | Segment Reconciling Items [Member] | USD -27,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2019-12-31 | divestiture_reduction | completed | 2019-11-18 | Missiles and Fire Control (MFC) | MD&A f5-10k / GLM-5.3-flash-HTML | Sale of the Distributed Energy Solutions commercial energy business completed November 18, 2019 for $225 million in cash with a $34 million gain; number of employees transferred or removed with the divested business is not disclosed. | |||||
| 2019-12-31 | divestiture_reduction | completed | 2019-11-18 | 2019-11-18 | United States | Missiles and Fire Control | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of the Distributed Energy Solutions business completed 2019-11-18 for $225 million cash with a $34 million gain; associated headcount not disclosed and results were not reclassified to discontinued operations. | |||
| 2019-12-31 | restructuring | completed | 2018-01-01 | 2019-12-31 | Rotary and Mission Systems | USD 96 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Charges recorded in 2018; substantially all severance payments paid by end of 2019. | |||
| 2019-12-31 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | |||||||
| 2019-12-31 | restructuring | in_progress | Rotary and Mission Systems [Member] | USD 60,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2019-12-31 | restructuring | in_progress | Segment Reconciling Items [Member] | USD 0 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2019-09-29 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2019-09-29 | restructuring | in_progress | Segment Reconciling Items [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2019-06-30 | restructuring | in_progress | 2018-06-24 | United States | Rotary and Mission Systems (RMS) | USD 96 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Program charges were recorded in Q2 2018 (prior-year comparative period), not the current quarter; announcement_date reflects the fiscal period in which the charge was recorded. No employee count disclosed. Only current-period activity is cumulative severance payments of approximately $59 million paid as of June 30, 2019; a portion is expected to be recovered through U.S. Government contract pricing. No severance or restructuring charges were recorded in the quarters or six months ended June 30, 2019. | |||
| 2019-06-30 | restructuring | completed | 2018-04-01 | Rotary and Mission Systems | USD 96 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges recorded in Q2 2018 for planned workforce reductions and consolidation of operations. As of June 30, 2019, approximately $59 million in severance payments had been paid. | ||||
| 2019-06-30 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2019-06-30 | restructuring | in_progress | Segment Reconciling Items [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2019-03-31 | restructuring | in_progress | 2018-06-30 | Rotary and Mission Systems | USD 96 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Charges recorded in Q2 2018 for severance and restructuring actions at RMS; approximately $50 million of severance payments paid through Q1 2019. Employee count not disclosed. | ||||
| 2019-03-31 | restructuring | in_progress | 2018-04-01 | Rotary and Mission Systems | USD 96 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Charges recorded in Q2 2018. As of March 31, 2019, approximately $50 million in severance payments had been paid. Employee count affected not disclosed. | ||||
| 2018-12-31 | restructuring | in_progress | 2019-12-31 | Rotary and Mission Systems (RMS) | USD 96 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | 2018 RMS actions comprise $75M severance for planned position eliminations via voluntary or involuntary means and $21M asset impairment tied to consolidating certain operations; charge recorded in Q2 2018 per quarterly summary. Roughly $33M of severance paid in 2018, with the majority of remaining lump-sum payments expected by end of 2019 (basis for expected_completion_date). Number of affected positions not disclosed; Item 1A notes these actions stem from a strategic RMS efficiency review. Also mentioned in MD&A; extracted once from the footnote per deduplication rule. | ||||
| 2018-12-31 | restructuring | in_progress | 2019-12-31 | Rotary and Mission Systems (RMS) | USD 96 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Charge of $96M ($76M after tax, $0.26 per share) comprising $75M severance for planned position eliminations via voluntary or involuntary actions and $21M asset impairment from consolidating certain operations. Number of positions affected not disclosed. Filer expects a majority of severance payments by end of 2019; $33M paid during 2018. Portion of charge expected to be recovered through future U.S. Government contract pricing. | ||||
| 2018-12-31 | restructuring | in_progress | 2018-12-31 | 2019-12-31 | Global | Rotary and Mission Systems | USD 96 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Charges totaling $96 million related to severance and restructuring actions at RMS. Includes $75 million severance for planned elimination of positions and $21 million asset impairment. Majority of severance payments expected by end of 2019. Employee count not explicitly disclosed. | ||
| 2018-12-31 | restructuring | in_progress | Segment Reconciling Items [Member] | USD -96,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2018-09-30 | restructuring | in_progress | 2019-12-31 | United States | Rotary and Mission Systems (RMS) | USD 96 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Recorded in Q2 2018 (exact announcement date not disclosed); charge comprises $75M severance for planned position eliminations and $21M asset impairment from consolidating certain operations. After-tax impact $76M ($0.26 per share). A majority of severance payments expected by end of 2019; a portion expected to be recovered through future U.S. Government contract pricing. Approximately $10M of severance paid during the quarter and nine months ended September 30, 2018. No number of employees affected was disclosed. | |||
| 2018-09-30 | restructuring | in_progress | 2018-06-30 | 2019-12-31 | Rotary and Mission Systems | USD 96 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges recorded in Q2 2018 for planned workforce reductions and consolidation of operations. Includes $75M severance for position eliminations and $21M asset impairment. Majority of severance payments expected by end of 2019. Employee count not disclosed. | |||
| 2018-09-30 | restructuring | in_progress | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2018-09-30 | restructuring | in_progress | Segment Reconciling Items [Member] | USD 0 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-24 | restructuring | in_progress | 2018-12-31 | Rotary and Mission Systems | USD 96 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Charges recorded in quarter ended June 24, 2018 from a strategic review of RMS: $75M severance for planned position eliminations (voluntary or involuntary) plus $21M asset impairment from consolidating certain operations; $76M after tax ($0.26 per share). Number of employees affected not disclosed; majority of lump-sum severance payments expected by end of 2018. A portion is expected to be recovered through future U.S. Government contract pricing. | ||||
| 2018-06-24 | restructuring | in_progress | 2018-06-24 | 2018-12-31 | Rotary and Mission Systems | USD 96 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Charges consist of $75 million severance for planned elimination of positions and $21 million asset impairment for consolidation of operations. Majority of severance payments expected by end of 2018. | |||
| 2018-06-24 | restructuring | in_progress | USD 96,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | |||||||
| 2018-06-24 | restructuring | in_progress | Segment Reconciling Items [Member] | USD -96,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-24 | restructuring | in_progress | Rotary and Mission Systems [Member] | USD 96,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2018-06-24 | restructuring | in_progress | Operations Consolidation [Member] / Rotary and Mission Systems [Member] | USD 21,000,000 (absolute) | restructuring_footnote f5-10q / no-ai-xblr | ||||||
| 2017-12-31 | restructuring | completed | 2016 | 2017-03-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2016 actions: Severance charges of $80 million recorded in 2016 related to Aeronautics. Substantially paid by end of Q1 2017. | |||
| 2017-12-31 | restructuring | completed | 2015 | 2016-12-31 | Rotary and Mission Systems | USD 67 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2015 actions: $67 million related to RMS. Substantially paid by Dec 31, 2016. | |||
| 2017-12-31 | restructuring | completed | 2015 | 2016-12-31 | Information Systems & Global Solutions | USD 15 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2015 actions: $15 million related to former IS&GS business. Substantially paid by Dec 31, 2016. | |||
| 2017-12-31 | restructuring | completed | 2015-06 | 2016-12-31 | Rotary and Mission Systems | USD 40 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Sikorsky acquisition related: Obligations assumed from Sikorsky restructuring actions committed in June 2015. $40 million incurred and paid in 2016. | |||
| 2017-12-31 | restructuring | completed | 2016 | 2017-03-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2016 Actions: Severance charges of $80 million recorded in 2016 related to Aeronautics segment. Substantially paid by end of Q1 2017. Employee count not disclosed. | |||
| 2017-12-31 | restructuring | completed | 2015 | 2016-12-31 | Rotary and Mission Systems | USD 67 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2015 Actions: $67 million of the $82 million total 2015 severance charge related to RMS segment. Substantially paid by Dec 31, 2016. Employee count not disclosed. | |||
| 2017-12-31 | restructuring | completed | 2015 | 2016-12-31 | Former IS&GS Business | USD 15 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | 2015 Actions: $15 million of the $82 million total 2015 severance charge related to businesses reported in former IS&GS segment. Substantially paid by Dec 31, 2016. Employee count not disclosed. | |||
| 2017-12-31 | restructuring | completed | 2015-06 | 2016-12-31 | Rotary and Mission Systems | USD 40 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Sikorsky Acquisition: Assumed obligations from restructuring actions committed to by Sikorsky in June 2015. Incurred and paid $40 million in costs in 2016. Employee count not disclosed. | |||
| 2017-09-24 | restructuring | completed | 2016-01-01 | 2017-03-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges recorded in Q1 2016 for elimination of certain positions. Substantially paid by end of Q1 2017. | |||
| 2017-06-25 | restructuring | completed | 2016-01-01 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance charges of approximately $80 million recorded in Q1 2016 for planned elimination of certain positions via voluntary or involuntary actions; severance costs substantially paid as of the end of Q1 2017. | ||||
| 2017-06-25 | restructuring | completed | 2016-01-01 | 2017-03-31 | Aeronautics | USD 80 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Severance charges recorded in Q1 2016 related to Aeronautics segment. Substantially paid by end of Q1 2017. | |||
| 2017-03-26 | restructuring | completed | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges recorded in Q1 2016 related to Aeronautics segment. Obligation substantially fulfilled as of March 26, 2017. No employee count disclosed. | |||||
| 2016-12-31 | restructuring | in_progress | 2016 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | 2016 severance charge for planned elimination of certain positions via voluntary and involuntary actions; $70 million of severance paid during 2016 with the remainder expected over subsequent quarters. No employee count disclosed. | ||||
| 2016-12-31 | restructuring | in_progress | 2015-06 | Rotary and Mission Systems (Sikorsky) | USD 40 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Obligations assumed with the November 2015 Sikorsky acquisition for restructuring actions Sikorsky committed to in June 2015; $40 million of costs incurred and paid in 2016 (net of amounts anticipated to be recovered through customer pricing), with substantial recovery expected in future periods. Program originated in prior fiscal year; only 2016 activity captured. No employee count disclosed. | ||||
| 2016-12-31 | divestiture_reduction | completed | 2016-01-26 | 2016-08-16 | Information Systems & Global Solutions (government IT and technical services) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | IS&GS merged with a Leidos subsidiary in a Reverse Morris Trust, completed August 16, 2016 (merger agreement dated January 26, 2016); results reclassified to discontinued operations. Business generated $5.6 billion of 2015 net sales; transferred employee headcount not disclosed. Lockheed Martin received a $1.8 billion special cash payment and recognized a ~$1.2 billion net gain. | ||||
| 2016-12-31 | divestiture_reduction | completed | 2015 | 2016-05-02 | Rotary and Mission Systems - Lockheed Martin Commercial Flight Training (LMCFT) | other f5-10k / GLM-5.3-flash-HTML | Sale completed May 2, 2016 following a 2015 divestiture decision; a $90 million non-cash impairment charge was recorded in 2015 (not a 2016 workforce charge). Business not material; no employee count disclosed. | ||||
| 2016-12-31 | acquisition_addition | completed | 2016-08-24 | 2016-08-24 | United Kingdom | Space Systems (AWE Management Limited) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Step acquisition: ownership in the AWE venture increased from 33% to 51% on August 24, 2016, requiring consolidation of the UK nuclear deterrent program operator (2015 net sales ~$1.5 billion) under Space Systems from that date; AWE workforce brought into consolidated results but headcount not disclosed. Non-cash net gain of $104 million recognized. | |||
| 2016-12-31 | restructuring | in_progress | United States | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | FY2016 severance charges for planned elimination of certain positions via voluntary or involuntary action; $70 million paid during 2016 with majority of remaining payments expected over subsequent quarters. No headcount affected or announcement date disclosed. | ||||
| 2016-12-31 | restructuring | completed | 2015-06-30 | United States | Sikorsky Aircraft Corporation (Rotary and Mission Systems) | USD 40 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Restructuring actions committed to by Sikorsky in June 2015 and assumed in the November 2015 acquisition; $40 million incurred and paid during FY2016, net of amounts expected to be recovered through customer pricing. Charge relates to current fiscal year activity. | |||
| 2016-12-31 | divestiture_reduction | completed | 2016-01-26 | 2016-08-16 | United States | Information Systems & Global Solutions (IS&GS) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Reverse Morris Trust divestiture completed 2016-08-16; IS&GS generated $3.4 billion of net sales in 2016 through the divestiture date. Headcount transferred to Leidos not quantified in the filing. | |||
| 2016-12-31 | divestiture_reduction | completed | 2015-12-31 | 2016-05-02 | United States | Lockheed Martin Commercial Flight Training (LMCFT) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale completed May 2, 2016; classified as held for sale in Q4 2015 with a $90 million non-cash impairment recorded in 2015. Results not material and not classified as discontinued operations; headcount not disclosed. | |||
| 2016-12-31 | restructuring | completed | 2016-01-01 | 2016-12-31 | Global | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Severance charges of $80 million related to Aeronautics segment. Charges consisted of severance costs associated with planned elimination of certain positions through voluntary or involuntary actions. $70 million paid in 2016. | ||
| 2016-12-31 | restructuring | completed | 2015-06-01 | 2016-12-31 | Global | Rotary and Mission Systems | USD 40 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Costs incurred and paid in 2016 related to restructuring actions committed to by Sikorsky in June 2015. Net of amounts anticipated to be recovered through pricing. | ||
| 2016-09-25 | restructuring | in_progress | 2016-01-01 | 2016-12-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | First quarter 2016 severance charge for planned elimination of positions via voluntary or involuntary actions; $56 million of severance paid through September 25, 2016, of which $31 million paid in the third quarter. | |||
| 2016-09-25 | restructuring | in_progress | 2015-06-01 | 2016-12-31 | Rotary and Mission Systems (Sikorsky) | USD 40 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Restructuring obligations assumed from Sikorsky's June 2015 actions, net of anticipated recovery through customer pricing; about $35 million incurred in the nine months ended September 25, 2016, remaining $5 million expected in Q4 2016. | |||
| 2016-09-25 | restructuring | in_progress | 2015-07-01 | Rotary and Mission Systems; former IS&GS businesses | USD 82 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Third and fourth quarter 2015 severance charges: $67 million related to RMS and $15 million related to businesses formerly reported in IS&GS prior to Q4 2015 realignment; $45 million paid through September 25, 2016, of which $25 million paid in the third quarter. | ||||
| 2016-09-25 | divestiture_reduction | completed | 2016-08-16 | 2016-08-16 | Information Systems & Global Solutions (IS&GS) | business_combinations_footnote f5-10q / GLM-5.3-flash-fp4-HTML | IS&GS merged with Leidos in a Reverse Morris Trust transaction completed August 16, 2016; headcount transferred not disclosed. Related severance charges of $19 million in Q1 2016 recorded in discontinued operations. | ||||
| 2016-09-25 | restructuring | in_progress | 2016-03-29 | 2016-12-31 | United States | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance for planned elimination of certain positions via voluntary or involuntary actions; $56M paid as of 2016-09-25, of which $31M in Q3. Announcement date is approximate (recorded in Q1 2016). | ||
| 2016-09-25 | divestiture_reduction | completed | 2016-08-16 | 2016-08-16 | United States | Information Systems & Global Solutions (IS&GS) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Reverse Morris Trust merger with Leidos; no employee count disclosed. Net gain of ~$1.2B recognized; 9,369,694 LMT shares retired. | |||
| 2016-09-25 | acquisition_addition | completed | 2016-08-24 | 2016-08-24 | United Kingdom | Space Systems | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Step acquisition increasing ownership by 18% to 51% controlling interest; consolidation began 2016-08-24. No headcount disclosed; AWE generated ~$1.5B sales in 2015. | |||
| 2016-09-25 | restructuring | in_progress | 2015-06-30 | 2016-12-31 | United States | Rotary and Mission Systems (Sikorsky) | USD 40 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring actions committed by Sikorsky in June 2015 and assumed in the Nov 2015 acquisition; $35M incurred in nine months ended 2016-09-25, remaining $5M expected in Q4 2016, net of expected recoveries. | ||
| 2016-09-25 | restructuring | in_progress | 2015-09-30 | 2017-06-30 | United States | Rotary and Mission Systems | USD 82 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Recorded in Q3 and Q4 2015: $67M to RMS and $15M to businesses later realigned to former IS&GS. $45M paid as of 2016-09-25, of which $25M in Q3 2016. Announcement date approximate. | ||
| 2016-09-25 | restructuring | in_progress | 2016-01-01 | 2016-12-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges recorded in Q1 2016 for planned elimination of positions. Majority of payments expected by end of 2016. | |||
| 2016-09-25 | restructuring | in_progress | 2015-07-01 | Rotary and Mission Systems | USD 67 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges recorded in Q3/Q4 2015. Payments expected over next several quarters. | ||||
| 2016-09-25 | restructuring | in_progress | 2015-06-01 | 2016-12-31 | Rotary and Mission Systems | USD 40 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Obligations assumed from Sikorsky acquisition related to actions committed in June 2015. $35M incurred YTD 2016, $5M expected in Q4 2016. | |||
| 2016-06-26 | restructuring | in_progress | 2016-01-01 | 2016-12-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance costs for planned elimination of certain positions via voluntary or involuntary actions; lump-sum payments primarily based on years of service, majority expected to be paid by end of 2016. About $34 million paid as of June 26, 2016, substantially all in Q2 2016. | |||
| 2016-06-26 | restructuring | in_progress | 2016-01-01 | 2016-12-31 | Information Systems & Global Solutions | USD 19 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance costs for planned elimination of certain positions via voluntary or involuntary actions; majority of lump-sum payments expected to be paid by end of 2016. | |||
| 2016-06-26 | restructuring | in_progress | 2015-01-01 | Mission Systems and Training | USD 67 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance charges recorded in Q3 and Q4 2015 (prior to Q4 2015 program realignment); majority of lump-sum payments expected over the next several quarters. About $49 million paid as of June 26, 2016, of which about $17 million paid in Q2 2016. | ||||
| 2016-06-26 | restructuring | in_progress | 2015-01-01 | Information Systems & Global Solutions | USD 35 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance charges recorded in Q3 and Q4 2015 (prior to Q4 2015 program realignment); majority of lump-sum payments expected over the next several quarters. | ||||
| 2016-06-26 | restructuring | in_progress | 2015-06-01 | 2016-12-31 | Sikorsky (MST segment) | USD 40 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Restructuring actions committed to by Sikorsky in June 2015, assumed in the acquisition; net of anticipated recovery through customer pricing, about $40 million of additional 2016 costs expected. About $15 million incurred in the six months ended June 26, 2016; remaining $25 million expected in second half of 2016. | |||
| 2016-06-26 | acquisition_addition | completed | 2015-11-06 | 2015-11-06 | Mission Systems and Training (Sikorsky Aircraft Corporation) | USD 9 (billions) | business_combinations_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Sikorsky acquired from UTC for $9.0 billion net of cash acquired; headcount added not disclosed in the filing. | |||
| 2016-06-26 | divestiture_reduction | announced | 2016-01-26 | 2016-09-30 | Information Systems & Global Solutions | USD 2 (billions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Reverse Morris Trust transaction combining IS&GS with Leidos; includes one-time special cash payment of $1.8 billion to Lockheed Martin. Exchange offer commenced July 11, 2016; expected to close in Q3 2016. Headcount affected not disclosed. | |||
| 2016-06-26 | restructuring | in_progress | 2016-12-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance charges recorded in Q1 2016 for planned position eliminations via voluntary or involuntary actions; majority of lump-sum payments expected by end of 2016. About $34 million paid as of June 26, 2016, substantially all in Q2. Company expects to recover a substantial portion through product/service pricing. | ||||
| 2016-06-26 | restructuring | in_progress | 2016-12-31 | Information Systems & Global Solutions | USD 19 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Segment component of the consolidated $99 million Q1 2016 severance charge; same program and timeline as the Aeronautics component. | ||||
| 2016-06-26 | restructuring | in_progress | 2016-12-31 | Mission Systems and Training (Sikorsky) | USD 40 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Restructuring obligations assumed in the Sikorsky acquisition, committed to by Sikorsky in June 2015; net of expected recoveries. About $15 million incurred in the six months ended June 26, 2016; remaining $25 million expected in H2 2016. | ||||
| 2016-06-26 | restructuring | in_progress | Mission Systems and Training | USD 67 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Program initiated during Q3–Q4 2015; ongoing payments continue. Of the consolidated $102 million 2015 charge, about $49 million paid as of June 26, 2016, including about $17 million in Q2 2016; majority expected over the next several quarters. | |||||
| 2016-06-26 | restructuring | in_progress | Information Systems & Global Solutions | USD 35 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Segment component of the $102 million 2015 severance program (pre-Q4 2015 program realignment); same payment timeline as the MST component. | |||||
| 2016-06-26 | restructuring | in_progress | 2016-01-01 | 2016-12-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges recorded in Q1 2016 for planned elimination of positions. Majority of payments expected by end of 2016. | |||
| 2016-06-26 | restructuring | in_progress | 2016-01-01 | 2016-12-31 | Information Systems & Global Solutions | USD 19 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges recorded in Q1 2016 for planned elimination of positions. Majority of payments expected by end of 2016. | |||
| 2016-06-26 | restructuring | in_progress | 2015-06-01 | 2016-12-31 | Mission Systems and Training | USD 40 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Obligations assumed from Sikorsky acquisition related to restructuring actions committed to in June 2015. $15M incurred in first half of 2016, remaining $25M expected in second half. | |||
| 2016-03-27 | restructuring | in_progress | 2016-12-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance for elimination of positions via voluntary or involuntary actions; majority of lump-sum payments expected to be paid by end of 2016. Total Q1 2016 severance charge was $99 million, split $80M Aeronautics and $19M IS&GS. | ||||
| 2016-03-27 | restructuring | in_progress | 2016-12-31 | Information Systems & Global Solutions | USD 19 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance for elimination of positions via voluntary or involuntary actions; majority of lump-sum payments expected to be paid by end of 2016. | ||||
| 2016-03-27 | restructuring | in_progress | Mission Systems and Training | USD 67 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 2015 severance actions (recorded Q3-Q4 2015, prior to Q4 2015 segment realignment); approximately $32 million of severance paid through March 27, 2016, of which $14 million paid in Q1 2016. | |||||
| 2016-03-27 | restructuring | in_progress | Information Systems & Global Solutions | USD 35 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 2015 severance actions (recorded Q3-Q4 2015, prior to Q4 2015 segment realignment); approximately $32 million of severance paid through March 27, 2016, of which $14 million paid in Q1 2016. | |||||
| 2016-03-27 | restructuring | in_progress | 2016-12-31 | Mission Systems and Training (Sikorsky) | USD 40 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Assumed obligations from Sikorsky restructuring actions committed in June 2015; net of anticipated recovery through customer pricing, an additional $40 million of costs expected in 2016. | ||||
| 2016-03-27 | acquisition_addition | completed | 2015-11-06 | 2015-11-06 | Mission Systems and Training | USD 9,000 (millions) | business_combinations_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Sikorsky acquisition completed November 6, 2015 for $9.0 billion net of cash acquired; Sikorsky workforce added to MST segment. No employee headcount figure disclosed in the filing. | |||
| 2016-03-27 | divestiture_reduction | announced | 2016-01-26 | 2016-09-30 | Information Systems & Global Solutions | USD 1,800 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Reverse Morris Trust transaction combining IS&GS with Leidos; Lockheed Martin to receive approximately $1.8 billion special cash payment and stockholders approximately 50.5% of Leidos equity. Expected to close in Q3 or Q4 2016; no employee headcount figure disclosed. | |||
| 2016-03-27 | restructuring | in_progress | 2016-12-31 | United States | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance charges recorded in Q1 2016 for planned voluntary/involuntary position eliminations; no employee count disclosed. Lump-sum payments based on years of service, majority expected paid by end of 2016. Announcement date not specified; action occurred during the quarter. | |||
| 2016-03-27 | restructuring | in_progress | 2016-12-31 | United States | Information Systems & Global Solutions | USD 19 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance charges recorded in Q1 2016 for planned voluntary/involuntary position eliminations; no employee count disclosed. Announcement date not specified; action occurred during the quarter. | |||
| 2016-03-27 | divestiture_reduction | announced | 2016-01-26 | 2016-12-31 | United States | Information Systems & Global Solutions | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Reverse Morris Trust transaction combining IS&GS with Leidos; expected to close in Q3 or Q4 2016. No headcount impact disclosed. HSR review period expired 2016-03-29; UK regulatory review pending. | |||
| 2016-03-27 | restructuring | in_progress | 2016-03-27 | 2016-12-31 | Aeronautics | USD 80 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance costs associated with planned elimination of certain positions through voluntary or involuntary actions. Majority of payments expected by end of 2016. | |||
| 2016-03-27 | restructuring | in_progress | 2016-03-27 | 2016-12-31 | Information Systems & Global Solutions | USD 19 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance costs associated with planned elimination of certain positions through voluntary or involuntary actions. Majority of payments expected by end of 2016. | |||
| 2015-12-31 | restructuring | in_progress | 4,000 | 2013-11 | 2016-12-31 | IS&GS, MST, and Space Systems (segment attribution presented prior to the Q4 2015 program realignment) | USD 153 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Multi-year plan announced November 2013 to close and consolidate facilities and reduce total workforce by approximately 4,000 positions; original 2013 severance charges of $201M were split roughly $83M IS&GS, $37M MST, $81M Space Systems. Associated charge shown is cumulative severance paid through Dec 31, 2015 (about $46M of it paid in 2015), with remaining payments expected in 2016. Cumulative accelerated/incremental costs through Dec 31, 2015 were about $225M (about $115M recorded in 2015), with expected totals of roughly $10M IS&GS, $50M MST and $180M Space Systems through plan completion in 2016. About $65M of restructuring costs were recovered through customer pricing in 2015. | ||
| 2015-12-31 | acquisition_addition | completed | 2015-07-19 | 2015-11-06 | Global | Mission Systems and Training (MST) — Sikorsky Aircraft Corporation | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired Sikorsky Aircraft Corporation from United Technologies for $9.0 billion net of cash; stock purchase agreement dated July 19, 2015 and closing on November 6, 2015. Number of employees added is not disclosed; the year-end total of approximately 126,000 employees reflects the consolidated company including the acquired business. | |||
| 2015-12-31 | restructuring | in_progress | 1,400 | 2015-06 | 2016-12-31 | Global | Sikorsky (aligned under MST) — production-related positions and facilities consolidations | USD 15 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Approximate count of positions. Actions committed by Sikorsky in June 2015 and assumed in the November 6, 2015 acquisition; comprises a global workforce reduction of about 1,400 production-related positions plus facilities consolidations. About $15M of restructuring costs were accrued at Dec 31, 2015, all expected to be paid in 2016; an additional ~$40M of costs is expected in 2016 net of amounts anticipated to be recovered through customer pricing. | |
| 2015-12-31 | restructuring | in_progress | Mission Systems and Training (MST) | USD 67 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Portion of the $102M of 2015 severance charges attributable to MST. Charges arose from a workload review and cost-affordability actions, eliminating positions via voluntary and involuntary actions; employee count not disclosed. Across both 2015 severance actions, approximately $18M of severance had been paid through Dec 31, 2015, with the majority of remaining lump-sum payments due over subsequent quarters. | |||||
| 2015-12-31 | restructuring | in_progress | Information Systems & Global Solutions (IS&GS) — attribution presented prior to the Q4 2015 program realignment | USD 35 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Companion component of the $102M of 2015 severance charges; employee count not disclosed. Same program terms as the MST component (voluntary/involuntary position eliminations, lump-sum payments largely due after Dec 31, 2015). | |||||
| 2015-12-31 | divestiture_reduction | announced | 2016-01-26 | 2016-12-31 | Information Systems & Global Solutions (IS&GS) | subsequent_events f5-10k / GLM-5.3-flash-HTML | Subsequent event: definitive agreements signed January 26, 2016 to separate the IS&GS segment (2015 net sales of $5.6 billion) and combine it with Leidos Holdings in a Reverse Morris Trust, unlocking an estimated $5.0 billion of enterprise value including a $1.8 billion special cash payment to Lockheed Martin. No employee headcount is disclosed for the divested business; closing expected in Q3 or Q4 2016 subject to Leidos stockholder approval, regulatory approvals and tax opinions. | ||||
| 2015-12-31 | restructuring | in_progress | Mission Systems and Training | USD 67 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Severance charges for planned elimination of positions via voluntary or involuntary actions; no position count disclosed. Majority of lump-sum payments expected over the following several quarters; $18M paid by year-end 2015 (total across both segments). | |||||
| 2015-12-31 | restructuring | in_progress | Information Systems & Global Solutions | USD 35 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Segment shown as reported prior to the Q4 2015 program realignment. No position count disclosed; combined 2015 severance charge was $102M, reducing net earnings by $66M ($0.21 per share). | |||||
| 2015-12-31 | restructuring | in_progress | 1,400 | 2015-06-30 | 2016-12-31 | Global | Mission Systems and Training (Sikorsky Aircraft) | USD 15 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Restructuring committed to by Sikorsky in June 2015 and assumed in the November 6, 2015 acquisition: global reduction of about 1,400 production-related positions plus facilities consolidations. $15M accrued at 2015 year-end, all expected paid in 2016; an additional $40M of costs expected in 2016 net of amounts recovered through product and service pricing. Announcement date is month-precision (June 2015). | |
| 2015-12-31 | acquisition_addition | completed | 2015-07-19 | 2015-11-06 | Global | Mission Systems and Training | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Sikorsky Aircraft Corporation completed November 6, 2015 for $9.0 billion, net of cash acquired. No employee headcount added through the acquisition is disclosed; Sikorsky contributed about $400M net sales and a $45M operating loss from the acquisition date through year-end. | |||
| 2015-12-31 | restructuring | in_progress | 2013-11-30 | 2016-12-31 | United States | Information Systems & Global Solutions; Mission Systems and Training; Space Systems | USD 115 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Multi-year program (November 2013 plan to close/consolidate facilities and reduce workforce by about 4,000 positions; that count is the original 2013 program total, not 2015 activity). Current-fiscal-year activity only: $115M of accelerated and incremental costs recorded in 2015 and $46M of severance payments made in 2015; remaining severance payments expected in 2016. Charge shown is the 2015 accelerated/incremental cost component. | ||
| 2015-12-31 | divestiture_reduction | announced | 2016-01-26 | 2016-12-31 | United States | Information Systems & Global Solutions | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Definitive agreements signed January 26, 2016 to separate and combine IS&GS with Leidos Holdings in a Reverse Morris Trust transaction, expected to close in Q3 or Q4 2016. IS&GS backlog at 2015 year-end was $4.8 billion. No headcount associated with the divestiture is disclosed. | |||
| 2015-12-31 | divestiture_reduction | announced | 2016-12-31 | Lockheed Martin Commercial Flight Training (LMCFT) | USD 90 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Decision made during 2015 to divest LMCFT in 2016; recorded a $90M non-cash asset impairment charge, largely offset by an $80M net deferred tax benefit. No announcement date or headcount disclosed. | ||||
| 2015-12-31 | restructuring | in_progress | 2015-01-01 | 2016-12-31 | Global | Mission Systems and Training; Information Systems & Global Solutions | USD 102 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Severance actions resulting from review of future workload projections. $67M related to MST, $35M to IS&GS. Majority of payments expected over next several quarters. | ||
| 2015-12-31 | restructuring | in_progress | 1,400 | 2015-06-01 | 2016-12-31 | Global | Mission Systems and Training (Sikorsky) | USD 15 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Obligations assumed from Sikorsky acquisition. Global workforce reduction of approx 1,400 production-related positions and facilities consolidations. Accrued costs $15M, all expected paid in 2016. Additional $40M costs expected in 2016. | |
| 2015-12-31 | restructuring | in_progress | 4,000 | 2013-11-01 | 2016-12-31 | Global | Information Systems & Global Solutions; Mission Systems and Training; Space Systems | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Plan committed to in Nov 2013 to close/consolidate facilities and reduce workforce by approx 4,000 positions. Remaining severance payments expected in 2016. Accelerated/incremental costs expected through 2016. | ||
| 2015-12-31 | restructuring | in_progress | Workforce Reduction [Member] | USD 67,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2015-12-31 | restructuring | in_progress | 1,400 | Sikorsky Aircraft Corporation [Member] | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2015-09-27 | restructuring | in_progress | 2015-09-27 | 2016-06-30 | Information Systems & Global Solutions | USD 35 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance charges for planned elimination of certain positions via voluntary or involuntary actions; majority of lump-sum payments expected to be paid by mid-2016. Reduced net earnings by $24 million ($0.08 per share). | |||
| 2015-09-27 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | IS&GS, MST and Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Facility closures and workforce reduction of approximately 4,000 positions. Approximately $146 million of the $171 million severance paid as of September 27, 2015; remaining payments substantially complete by end of 2015. Includes two California property sales in Q2 2015 (~$70 million proceeds). | ||
| 2015-09-27 | divestiture_reduction | announced | 16,500 | 2015-07-20 | 2015-12-31 | IS&GS government IT infrastructure services; MFC technical services | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Strategic review of businesses with ~$5.5 billion estimated 2015 annual sales and ~16,500 employees; expected outcome is a spin-off, Reverse Morris Trust transaction, or sale. Employees affected is the headcount of businesses under review, not a confirmed reduction. | |||
| 2015-09-27 | restructuring | in_progress | 2016-06-30 | Information Systems & Global Solutions (IS&GS) | USD 35 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance for planned elimination of certain IS&GS positions via voluntary or involuntary actions; reduced net earnings by $24M ($0.08 per share). Number of positions not disclosed; majority of lump-sum payments expected by mid-2016. | ||||
| 2015-09-27 | restructuring | in_progress | 4,000 | 2013-11 | 2015-12-31 | United States | IS&GS, MST and Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Plan to close/consolidate facilities and reduce workforce by ~4,000 positions. $146M of $171M expected severance paid as of 2015-09-27 ($39M in nine months 2015). Two California properties sold for ~$70M with gains deferred. Accelerated/incremental costs of $204M incurred against ~$255M expected across the three segments; remaining payments expected substantially complete by end of 2015. | |
| 2015-09-27 | other | announced | 16,500 | 2015-07-20 | 2015-12-31 | United States | Government IT infrastructure services (IS&GS) and technical services (MFC) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Strategic review of businesses representing ~$5.5B of estimated 2015 annual sales and ~16,500 employees; expected outcome is a spin-off, Reverse Morris Trust transaction, or sale. Results remain in continuing operations pending completion. | ||
| 2015-09-27 | acquisition_addition | announced | 2015-07-20 | 2015-12-31 | Global | Mission Systems and Training (MST) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement to acquire Sikorsky for $9.0B cash, expected to close in Q4 2015; Sikorsky to be aligned under MST. Headcount added through the acquisition is not disclosed in this filing. | |||
| 2015-09-27 | restructuring | in_progress | 2015-07-01 | 2016-06-30 | Information Systems & Global Solutions | USD 35 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges recorded in Q3 2015 related to IS&GS segment to reduce overhead costs. Majority of payments expected by mid-2016. | |||
| 2015-09-27 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | Information Systems & Global Solutions, Mission Systems and Training, Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Fourth Quarter 2013 Action: Plan to close/consolidate facilities and reduce workforce by approx 4,000 positions. $146M of $171M total expected severance paid as of Sept 27, 2015. Remaining payments expected substantially completed by end of 2015. | ||
| 2015-06-28 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | IS&GS, MST and Space Systems | USD 135 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Facility closures and workforce reduction of approximately 4,000 positions; approximately $135 million in severance paid through June 28, 2015, of which $28 million was paid during the six months ended June 28, 2015. Remaining severance and incremental cost payments expected to be substantially paid by end of 2015. | ||
| 2015-06-28 | divestiture_reduction | announced | 17,000 | 2015-07-20 | 2015-12-31 | IS&GS government IT infrastructure services and MFC technical services | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Strategic review of businesses representing approximately $6.0 billion in estimated 2015 annual sales and approximately 17,000 employees; expected to result in a spin-off to shareholders or sale. Review expected to be completed in 2015. | |||
| 2015-06-28 | restructuring | in_progress | 4,000 | 2013-11 | 2015-12-31 | IS&GS, MST and Space Systems | USD 135 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Plan to close/consolidate facilities and reduce workforce by about 4,000 positions. Approximately $135M severance paid through 2015-06-28, including $28M during the six months then ended. Expected total accelerated and incremental costs of about $15M (IS&GS), $50M (MST) and $190M (Space Systems); $174M incurred to date. Remaining severance and incremental costs expected substantially paid by end of 2015. Two California properties sold in Q2 2015 for about $70M proceeds, with gains deferred. | ||
| 2015-06-28 | divestiture_reduction | announced | 17,000 | 2015-07-20 | 2015-12-31 | Government IT infrastructure services (IS&GS) and technical services (MFC) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Post-quarter announcement of a strategic review expected to result in a spin-off or sale; programs under review represent about $6.0B of estimated 2015 sales and about 17,000 employees. Results remain in continuing operations pending completion; not all 17,000 positions are necessarily eliminated. | |||
| 2015-06-28 | acquisition_addition | announced | 2015-07-20 | 2016-03-31 | Mission Systems and Training (planned alignment of Sikorsky) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement to acquire Sikorsky Aircraft for $9.0B cash, announced after quarter end; expected to close in Q4 2015 or Q1 2016. No Sikorsky headcount disclosed in this filing; Sikorsky results excluded until closing. | ||||
| 2015-06-28 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | Global | IS&GS, MST, Space Systems | USD 135 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Plan committed in Nov 2013 to close/consolidate facilities and reduce workforce by approx 4,000 positions. $135M severance paid as of June 28, 2015. Remaining payments expected substantially paid by end of 2015. | |
| 2015-06-28 | other | announced | 17,000 | 2015-07-20 | 2015-12-31 | Global | IS&GS, MFC | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Strategic review of government IT infrastructure services (IS&GS) and technical services (MFC) businesses announced July 20, 2015. Programs represent approx 17,000 employees. Expected to result in spin-off or sale. Review expected to complete in 2015. | ||
| 2015-03-29 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | IS&GS, MST and Space Systems | USD 123 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | November 2013 plan to close and consolidate facilities and cut roughly 4,000 positions. Approximately $123 million in severance paid cumulatively through March 29, 2015, of which about $16 million was paid in Q1 2015. Expected accelerated and incremental costs of approximately $15 million at IS&GS, $50 million at MST and $190 million at Space Systems; approximately $136 million of such costs incurred to date. Remaining severance and incremental payments expected by end of 2015; substantial recovery through U.S. Government and other customer pricing expected. | ||
| 2015-03-29 | restructuring | in_progress | 4,000 | 2013-11 | 2015-12-31 | Information Systems & Global Solutions; Mission Systems and Training; Space Systems | USD 136 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Program committed November 2013 to close/consolidate facilities and cut about 4,000 positions across IS&GS, MST and Space Systems; presented as a consolidated total, not split by segment. Charge shown is total accelerated and incremental costs incurred as of 2015-03-29. Severance payments of about $123M paid to date, including roughly $16M in the quarter. Expected accelerated/incremental costs of about $15M (IS&GS), $50M (MST) and $190M (Space Systems); remaining severance and incremental cost payments expected by end of 2015. Company expects to recover a substantial portion through U.S. Government and other customer pricing. | ||
| 2015-03-29 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | Global | IS&GS, MST, Space Systems | USD 123 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Plan committed in Nov 2013 to close/consolidate facilities and reduce workforce by approx 4,000 positions. $123M severance paid as of Mar 29, 2015 ($16M in Q1). Remaining payments expected by end of 2015. | |
| 2014-12-31 | restructuring | in_progress | 4,000 | 2013-11 | 2015 | United States | Information Systems & Global Solutions (IS&GS), Mission Systems and Training (MST), Space Systems | USD 201 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Multi-year plan announced November 2013 to close and consolidate facilities and reduce total workforce by approximately 4,000 positions; FY2014 10-K presents cumulative-to-date status: ~$107M of severance paid through 2014-12-31 (of which ~$92M paid during 2014), remaining payments expected through mid-2015; ~$110M of accelerated/incremental costs incurred through 2014-12-31. Severance charge split by segment: $83M IS&GS, $37M MST, $81M Space Systems; expected accelerated/incremental costs $15M/$50M/$175M respectively. Facility component (same plan, per Item 2 Properties): vacate leased sites in Goodyear, AZ and Akron, OH, close owned facility in Newtown, PA and certain Sunnyvale, CA buildings (~2.5 million sq ft total; ~200,000 sq ft vacated in 2014, remaining 2.3 million sq ft during 2015). | |
| 2014-12-31 | restructuring | in_progress | 4,000 | 2013-11 | 2015 | United States | Information Systems & Global Solutions; Mission Systems and Training; Space Systems | USD 110 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Program announced November 2013 to close/consolidate facilities and cut about 4,000 positions; count is cumulative program total, not FY2014-only. Charge shown is accelerated and incremental costs incurred through 2014 year-end (most during 2014), cumulative to date; the $201M severance charge was recorded in FY2013 (prior year) and is excluded. About $92M of severance was paid during 2014; remaining severance payments expected through mid-2015. Closures include leased sites in Goodyear, AZ and Akron, OH and owned facilities in Newtown, PA and Sunnyvale, CA (about 2.5M sq ft total). | |
| 2014-12-31 | acquisition_addition | completed | 2014-04-07 | 2014-04-07 | Information Systems & Global Solutions | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Industrial Defender, Inc. (cyber security for control systems). Acquired headcount not disclosed. | ||||
| 2014-12-31 | acquisition_addition | completed | 2014-08-18 | 2014-08-18 | Space Systems | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Zeta Associates, Inc. (intelligence/defense information systems). Acquired headcount not disclosed. | ||||
| 2014-12-31 | acquisition_addition | completed | 2014-12-01 | 2014-12-01 | Information Systems & Global Solutions | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Systems Made Simple (healthcare IT interoperability). Acquired headcount not disclosed. Total 2014 acquisition spend was $898M net of cash acquired, which also includes unnamed smaller business and affiliate investments. | ||||
| 2014-12-31 | restructuring | in_progress | 4,000 | 2013-11 | 2015-12-31 | Global | IS&GS, MST, Space Systems | USD 201 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Plan committed to in Nov 2013 to close/consolidate facilities and reduce workforce by approx 4,000 positions in IS&GS, MST, and Space Systems. Severance charges of $201M recorded in 2013. Remaining severance payments expected through mid-2015. | |
| 2014-09-28 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | IS&GS, MST, and Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | November 2013 plan to close and consolidate certain facilities and reduce workforce by approximately 4,000 positions; severance charges of $171 million net of state tax benefits recorded in Q4 2013, split $53M IS&GS, $37M MST, $81M Space Systems. Approximately $95 million of severance paid through September 28, 2014, with remainder expected through mid-2015. Total accelerated and incremental costs of approximately $15M (IS&GS), $50M (MST), and $175M (Space Systems) expected through 2015; approximately $78 million incurred as of September 28, 2014. | ||
| 2014-09-28 | restructuring | completed | 2013-03-31 | 2013-12-31 | IS&GS | USD 30 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2013 severance charges of $30 million net of state tax benefits for elimination of certain positions at IS&GS; reduced net earnings by $19 million. All severance payments were paid in 2013. | |||
| 2014-09-28 | restructuring | in_progress | 4,000 | 2013-11 | 2015 | United States | IS&GS, MST, and Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Program announced November 2013 to close/consolidate facilities and cut ~4,000 positions; headcount not broken out by segment. $171M severance (net of state tax benefits; $53M IS&GS, $37M MST, $81M Space Systems) was recorded in Q4 2013, prior to this period. Expected accelerated and incremental costs through 2015: $15M IS&GS, $50M MST, $175M Space Systems; ~$78M incurred as of 2014-09-28. ~$95M of severance paid as of 2014-09-28, remainder expected through mid-2015. | |
| 2014-09-28 | acquisition_addition | completed | 2014-08-18 | United States | Space Systems | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Zeta Associates, Inc. completed 2014-08-18; no headcount disclosed. Preliminary goodwill of $425M recorded across Zeta and Industrial Defender acquisitions. | ||||
| 2014-09-28 | acquisition_addition | completed | 2014-04-07 | United States | Information Systems & Global Solutions | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Industrial Defender, Inc. completed 2014-04-07; no headcount disclosed. | ||||
| 2014-09-28 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | Global | IS&GS, MST, Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Plan committed in Nov 2013 to close/consolidate facilities and reduce workforce by approx 4,000 positions. Severance charges of $171M recorded in Q4 2013. Additional accelerated/incremental costs expected through 2015. | |
| 2014-06-29 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | IS&GS, MST, and Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Facility closures and consolidation plan announced November 2013; severance charge of $171 million net of state tax benefits recorded in Q4 2013. Approximately $75 million of severance paid as of June 29, 2014, of which about $60 million was paid during the six months ended June 29, 2014; remainder expected to be paid through mid-2015. Substantial recovery expected through U.S. Government pricing. | ||
| 2014-06-29 | restructuring | in_progress | 2013-11-01 | 2015-12-31 | Information Systems & Global Solutions | USD 53 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Segment-level severance charge component of the November 2013 restructuring; also expected to incur approximately $15 million of accelerated and incremental costs through plan completion in 2015. | |||
| 2014-06-29 | restructuring | in_progress | 2013-11-01 | 2015-12-31 | Mission Systems and Training | USD 37 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Segment-level severance charge component of the November 2013 restructuring; also expected to incur approximately $50 million of accelerated and incremental costs through plan completion in 2015. | |||
| 2014-06-29 | restructuring | in_progress | 2013-11-01 | 2015-12-31 | Space Systems | USD 81 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Segment-level severance charge component of the November 2013 restructuring; also expected to incur approximately $135 million of accelerated and incremental costs through plan completion in 2015. | |||
| 2014-06-29 | restructuring | in_progress | 4,000 | 2013-11 | 2015 | United States | Information Systems & Global Solutions; Mission Systems and Training; Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Plan to close and consolidate facilities and reduce total workforce by approximately 4,000 positions. Severance of $171M (net of state tax benefits) was recorded in Q4 2013, split $53M IS&GS, $37M MST, $81M Space Systems; approximately $75M of severance paid through June 29, 2014, including about $60M during the six months then ended, with remaining payments expected through mid-2015. Separate expected accelerated and incremental costs of $15M, $50M, and $135M at IS&GS, MST, and Space Systems respectively run through plan completion in 2015; about $50M incurred to date. Employee count not broken out by segment in the filing, so a single consolidated record is emitted. | |
| 2014-06-29 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | Global | IS&GS, MST, Space Systems | USD 171 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Plan to close/consolidate facilities and reduce workforce by approx. 4,000 positions. Severance charges of $171M incurred in Q4 2013. Approx. $75M paid as of June 29, 2014. Remaining payments expected through mid-2015. | |
| 2014-03-30 | restructuring | in_progress | 4,000 | 2013-11-01 | 2015-12-31 | IS&GS, MST, and Space Systems business segments | USD 171 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Facility closures/consolidations plus workforce reduction of approximately 4,000 positions committed in November 2013. Severance charges of $171 million (net of state tax benefits) were recorded in Q4 2013, split $53M IS&GS, $37M MST, $81M Space Systems. Additional accelerated/incremental costs of approximately $15M (IS&GS), $50M (MST), and $135M (Space Systems) expected through completion in 2015; approximately $30 million incurred as of March 30, 2014. Approximately $50 million of severance paid as of quarter-end, including ~$35 million paid during Q1 2014. Substantial recovery expected through U.S. Government and other customer pricing. Headcount affected not broken out by segment. | ||
| 2014-03-30 | restructuring | in_progress | 2013-11 | 2015-12-31 | United States | Information Systems & Global Solutions (IS&GS) | USD 53 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Program announced November 2013 to close/consolidate facilities and reduce total workforce by approximately 4,000 positions across IS&GS, MST, and Space Systems (program-wide total; segment-level headcount not disclosed). Segment severance charge of $53M was incurred in Q4 2013, net of state tax benefits. IS&GS share of accelerated/incremental costs expected through 2015 is approximately $15M. As of 2014-03-30, about $30M of accelerated/incremental costs incurred program-wide and about $50M of severance paid program-wide (including about $35M paid in Q1 2014). | ||
| 2014-03-30 | restructuring | in_progress | 2013-11 | 2015-12-31 | United States | Mission Systems and Training (MST) | USD 37 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Same program-wide action: approximately 4,000 positions to be reduced across IS&GS, MST, and Space Systems (segment-level headcount not disclosed). Segment severance charge of $37M was incurred in Q4 2013, net of state tax benefits. MST share of accelerated/incremental costs expected through 2015 is approximately $50M. | ||
| 2014-03-30 | restructuring | in_progress | 2013-11 | 2015-12-31 | United States | Space Systems | USD 81 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Same program-wide action: approximately 4,000 positions to be reduced across IS&GS, MST, and Space Systems (segment-level headcount not disclosed). Segment severance charge of $81M was incurred in Q4 2013, net of state tax benefits. Space Systems share of accelerated/incremental costs expected through 2015 is approximately $135M. Remaining severance payments expected to be paid through mid-2015; company expects to recover a substantial portion through U.S. Government contract pricing. | ||
| 2014-03-30 | restructuring | in_progress | 2013-11-01 | 2015-12-31 | IS&GS, MST, Space Systems | USD 15 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | IS&GS segment portion of Q4 2013 action. Total plan reduces workforce by ~4,000 positions across three segments. Expected accelerated/incremental costs of $15M for IS&GS. | |||
| 2014-03-30 | restructuring | in_progress | 2013-11-01 | 2015-12-31 | IS&GS, MST, Space Systems | USD 50 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | MST segment portion of Q4 2013 action. Total plan reduces workforce by ~4,000 positions across three segments. Expected accelerated/incremental costs of $50M for MST. | |||
| 2014-03-30 | restructuring | in_progress | 2013-11-01 | 2015-12-31 | IS&GS, MST, Space Systems | USD 135 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Space Systems segment portion of Q4 2013 action. Total plan reduces workforce by ~4,000 positions across three segments. Expected accelerated/incremental costs of $135M for Space Systems. | |||
| 2013-12-31 | restructuring | in_progress | 4,000 | 2013-11 | 2015-06 | United States (Arizona, Ohio, Pennsylvania, California) | Information Systems & Global Solutions; Mission Systems and Training; Space Systems | USD 201 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Plan announced November 2013 to close and consolidate facilities and reduce workforce by approximately 4,000 positions across IS&GS, MST, and Space Systems. Facilities affected: leased sites in Goodyear, AZ and Akron, OH; owned facility in Newtown, PA and certain owned buildings at Sunnyvale, CA (~2.5 million sq ft). 2013 severance charges by segment: IS&GS $83M (includes $30M from separate Q1 2013 actions), MST $37M, Space Systems $81M. Expected accelerated/incremental facility costs: IS&GS $15M, MST $50M, Space Systems $135M through 2015. Approximately $15M severance paid in 2013, remainder expected through mid-2015; expected ~$150M reduction to 2014 operating cash flow. Filer expects actions substantially complete by mid-2015. | |
| 2013-12-31 | other | completed | 2013-12-31 | United States | Information Systems & Global Solutions | USD 30 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Severance actions at IS&GS occurring in Q1 2013, paid during 2013; nature (voluntary/involuntary) and employee count not disclosed. Included within the $83 million IS&GS 2013 severance charge reported in Note 2. | |||
| 2013-12-31 | restructuring | in_progress | 4,000 | 2013-11 | 2015-06-30 | United States | Information Systems & Global Solutions; Mission Systems and Training; Space Systems | USD 201 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Total 2013 severance charge of $201M (net of state tax benefits) reduced net earnings by $130M ($.40/share); charge includes $30M of first-quarter 2013 IS&GS severance actions. Segment split of charge: $83M IS&GS, $37M MST, $81M Space Systems. About $15M of severance paid in 2013, remainder payable through mid-2015; expected to reduce 2014 operating cash flow by about $150M. | |
| 2013-12-31 | restructuring | completed | 2013-01 | 2013-12-31 | United States | Information Systems & Global Solutions | USD 30 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Separate first-quarter 2013 severance actions at IS&GS, paid during 2013; amount is a component of the $201M total 2013 severance charge and is not additive to it. Headcount affected not disclosed. | ||
| 2013-12-31 | plant_closure | in_progress | 2013-11 | 2015-06-30 | United States (Goodyear AZ; Akron OH; Newtown PA; Sunnyvale CA) | Information Systems & Global Solutions; Mission Systems and Training; Space Systems | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Part of the same November 2013 plan; approximately 2.5 million square feet to be vacated. Headcount reduction is captured in the restructuring record above to avoid double counting. Additional accelerated and incremental costs of about $15M (IS&GS), $50M (MST) and $135M (Space Systems) expected through 2015. | |||
| 2013-12-31 | acquisition_addition | completed | United Kingdom | Information Systems & Global Solutions | USD 269 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2013 acquisition of Amor Group (IT, civil government services, energy). $269M is total 2013 cash paid for acquisition activities, not the purchase price of Amor Group alone; headcount added not disclosed. | ||||
| 2013-12-31 | restructuring | in_progress | 4,000 | 2013-11 | 2015-06-30 | Global | IS&GS, MST, Space Systems | USD 201 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Plan to close and consolidate facilities and reduce workforce by approx. 4,000 positions. Severance charges of $201 million recorded in 2013. Completion expected by middle of 2015. | |
| 2013-12-31 | restructuring | in_progress | 4,000 | Information Systems And Global Solutions Mission Systems And Training And Space Systems [Member] | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2013-09-29 | restructuring | completed | 2013-03-31 | Information Systems & Global Solutions | USD 30 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges recorded in Q1 2013 from strategic review of IS&GS to align cost structure with changing economic conditions and program lifecycle changes; positions eliminated via voluntary or involuntary actions with lump-sum severance based on years of service; all severance payments paid during the nine months ended September 29, 2013; charge was net of state tax benefits and reduced net earnings by $19 million ($0.06 per share). | ||||
| 2013-09-29 | restructuring | completed | 2012-09-30 | Former Electronic Systems business segment | USD 23 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 2012 reorganization of the former Electronic Systems business segment; charge net of state tax benefits reduced net earnings by $15 million ($0.05 per share); substantially all severance payments paid during the nine months ended September 29, 2013. | ||||
| 2013-09-29 | restructuring | completed | 2012-12-31 | Aeronautics | USD 25 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges recorded in Q4 2012 for elimination of certain positions at the Aeronautics business segment; all associated severance payments paid during the nine months ended September 29, 2013. | ||||
| 2013-09-29 | restructuring | completed | 2013-03-31 | United States | Information Systems & Global Solutions (IS&GS) | USD 30 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Positions eliminated via voluntary or involuntary actions following a strategic review of IS&GS; charge net of state tax benefits, reduced net earnings by $19 million ($.06 per share); all severance payments paid during the nine months ended September 29, 2013. Number of employees affected not disclosed. | |||
| 2013-09-29 | other | announced | 2013-10-01 | United States | Corporate | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Following the October 1, 2013 U.S. Government shutdown, a portion of employees was temporarily placed on directed vacation; number of employees affected not disclosed. | ||||
| 2013-09-29 | restructuring | completed | 2013-03-31 | 2013-09-29 | Information Systems & Global Solutions | USD 30 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Strategic review of IS&GS segment to align cost structure; charges recorded in Q1 2013; all severance payments paid during the nine months ended Sept 29, 2013. | |||
| 2013-09-29 | restructuring | completed | 2012-10-01 | 2013-09-29 | Aeronautics | USD 25 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Elimination of certain positions at Aeronautics segment; charges recorded in Q4 2012; all severance payments paid during the nine months ended Sept 29, 2013. | |||
| 2013-06-30 | restructuring | in_progress | 2013-03-31 | Information Systems & Global Solutions | USD 30 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charges recorded in Q1 2013 from strategic review of IS&GS to align cost structure with changing economic conditions and program lifecycle changes; net of state tax benefits; reduced net earnings by $19 million ($0.06 per share). Most severance payments paid during Q2 2013, remainder expected in second half of 2013. | ||||
| 2013-06-30 | restructuring | completed | 2012-09-30 | Aeronautics and former Electronic Systems | USD 48 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 2012 actions recorded in Q3 and Q4 2012 for elimination of certain positions; substantially all associated severance payments paid during the six months ended June 30, 2013. | ||||
| 2013-06-30 | restructuring | in_progress | 2013-03-31 | 2013-12-31 | United States | Information Systems & Global Solutions (IS&GS) | USD 30 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Charge of $30M net of state tax benefits, reducing net earnings by $19M ($0.06/share); recorded in Q1 2013 from a strategic review of IS&GS to align cost structure with economic conditions and program lifecycle changes. Covers planned elimination of certain positions via voluntary or involuntary actions; most payments made in Q2 2013, remainder expected in H2 2013. No employee count disclosed. Filer expects to recover a substantial portion of the charge through U.S. Government and other customer pricing by end of Q1 2014. | ||
| 2013-06-30 | restructuring | completed | 2013-03-31 | 2013-12-31 | Information Systems & Global Solutions | USD 30 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Strategic review of IS&GS segment to align cost structure. Charges recorded in Q1 2013. Most payments made in Q2 2013; remainder expected in H2 2013. Employee count not disclosed. | |||
| 2013-03-31 | reduction_in_force | in_progress | 2013-01-01 | 2013-12-31 | Information Systems & Global Solutions | USD 30 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q1 2013 severance charge of $30 million net of state tax benefits for planned elimination of certain positions via voluntary or involuntary actions, following a strategic review of IS&GS; reduced net earnings by $19 million ($0.06 per share). Lump-sum payments based on years of service expected to be paid in 2013; employee count not disclosed. | |||
| 2013-03-31 | reduction_in_force | in_progress | 2012-07-01 | 2013-06-30 | Aeronautics and former Electronic Systems | USD 48 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 2012 severance actions totaling $48 million recorded in Q3 and Q4 2012 for elimination of certain positions at Aeronautics and the former Electronic Systems segment; approximately half of associated payments made during Q1 2013, remainder expected in Q2 2013. Employee count not disclosed. | |||
| 2013-03-31 | restructuring | in_progress | 2013-01-01 | 2013-12-31 | United States | Information Systems & Global Solutions (IS&GS) | USD 30 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance charge of $30M (net of state tax benefits) reduced net earnings by $19M ($0.06/share). Positions to be eliminated via voluntary or involuntary actions; lump-sum payments expected in 2013. No employee count disclosed. Driven by strategic review to align cost structure with changing economic conditions and program lifecycle changes. | ||
| 2013-03-31 | restructuring | in_progress | 2012-06-30 | 2013-06-30 | United States | Aeronautics; former Electronic Systems | USD 48 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Prior-year (2012) severance actions totaling $48M charged in Q3 and Q4 2012; approximately half of associated payments made during Q1 2013, remainder expected in Q2 2013. No employee count disclosed. Included because payment activity occurred within the current quarter. | ||
| 2013-03-31 | restructuring | in_progress | 2013-03-31 | 2013-12-31 | Information Systems & Global Solutions | USD 30 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Strategic review to align cost structure; charges for planned elimination of positions via voluntary or involuntary actions. Payments expected in 2013. | |||
| 2013-03-31 | restructuring | in_progress | 2012-09-30 | 2013-06-30 | Aeronautics; Electronic Systems | USD 48 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Actions initiated in 2012 (charges recorded in Q3/Q4 2012). Half of payments made in Q1 2013; remainder expected in Q2 2013. | |||
| 2012-12-31 | restructuring | completed | 2012 | United States | Aeronautics | USD 25 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Cost-reduction actions eliminating positions through voluntary and involuntary separations, including consolidation of program support activities across Aeronautics locations; charge net of state tax benefits; majority of lump-sum payments expected through H1 2013. Headcount not disclosed. | |||
| 2012-12-31 | restructuring | completed | 2012 | United States | Former Electronic Systems business segment (reorganized into MFC and MST effective December 31, 2012) | USD 23 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Severance tied to segment reorganization that eliminated management layers at the former Electronic Systems segment and the former Global Training and Logistics business; charge net of state tax benefits. Headcount not disclosed. | |||
| 2012-12-31 | acquisition_addition | completed | 2012 | United States | Mission Systems and Training (unmanned systems) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Procerus Technologies, L.C. acquired in Q1 2012; headcount added not disclosed. Part of $304 million aggregate 2012 acquisition spend. | ||||
| 2012-12-31 | acquisition_addition | completed | 2012 | United States | Mission Systems and Training (unmanned systems) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Chandler/May, Inc. acquired in Q4 2012; headcount added not disclosed. Part of $304 million aggregate 2012 acquisition spend. | ||||
| 2012-12-31 | acquisition_addition | completed | 2012 | Mission Systems and Training (unmanned systems) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | CDL Systems Ltd. acquired in Q4 2012; headcount added not disclosed. Part of $304 million aggregate 2012 acquisition spend. | |||||
| 2012-12-31 | divestiture_reduction | completed | 2012 | Former Electronic Systems business segment (Savi Technology logistics business) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Savi sold in Q3 2012 following a 2011 decision to dispose of the business; headcount removed through the divestiture not disclosed. | |||||
| 2012-12-31 | restructuring | in_progress | 2012-01-01 | 2013-06-30 | United States | Aeronautics | USD 25 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Cost reduction initiatives including consolidation of selected program support activities across Aeronautics locations; charge net of state tax benefits. Lump-sum payments expected through first half of 2013. Headcount not disclosed. | ||
| 2012-12-31 | restructuring | in_progress | 2012-01-01 | 2013-06-30 | United States | Former Electronic Systems business segment (reorganized into MFC and MST) | USD 23 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Severance tied to the December 31, 2012 segment reorganization, which eliminated management layers at the former Electronic Systems segment and former Global Training and Logistics business. Charge net of state tax benefits; headcount not disclosed. Combined 2012 severance charges totaled $48M, reducing net earnings by $31M ($.09 per share). | ||
| 2012-12-31 | acquisition_addition | completed | 2012-03-31 | 2012-12-31 | United States | Mission Systems and Training (MST) | USD 304 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Aggregate 2012 acquisition spend of $304M for Procerus Technologies (Q1 2012) and Chandler/May, Inc. and CDL Systems Ltd. (both Q4 2012), all advanced unmanned systems businesses integrated into MST. Headcount added not disclosed; associated_charge reflects purchase consideration, not a severance charge. | ||
| 2012-12-31 | divestiture_reduction | completed | 2012-06-30 | 2012-09-30 | United States | Former Electronic Systems business segment — Savi Technology, Inc. (logistics) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Savi sold in the third quarter of 2012 and reported within discontinued operations for 2011; amounts for 2012 not significant. Headcount removed not disclosed. | |||
| 2012-12-31 | restructuring | completed | 2012-12-31 | 2013-06-30 | Global | Aeronautics; Electronic Systems (reorganization) | USD 48 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Charges of $48 million (net of state tax benefits) related to severance actions. $25 million related to Aeronautics cost reduction initiatives; $23 million related to reorganization of former Electronic Systems segment. Majority of payments expected through first half of 2013. | ||
| 2012-09-30 | restructuring | in_progress | 2012-10-08 | 2012-12-31 | Electronic Systems | USD 23 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Severance charge of $23 million, net of state tax benefits, recorded in Q3 2012 for planned elimination of certain positions in connection with the reorganization of the Electronic Systems segment into two new segments (MFC and MST) effective December 31, 2012; charge reduced net earnings by $15 million ($0.05 per share); lump-sum payments based on years of service expected to be paid through Q1 2013; no employee count disclosed. | |||
| 2012-09-30 | restructuring | in_progress | 2012-10-08 | 2013-03-31 | United States | Electronic Systems | USD 23 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Severance charge recorded in Q3 2012 tied to the Electronic Systems reorganization announced 2012-10-08 and effective 2012-12-31; covers planned position eliminations via voluntary or involuntary actions, with lump-sum payments expected through Q1 2013. Number of positions affected not disclosed. | ||
| 2012-09-30 | restructuring | completed | 2012-09-30 | United States | Multiple segments including Aeronautics, Space Systems, IS&GS, and Corporate Headquarters | USD 136 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Year-to-date 2012 severance charges from prior-year (2011) workforce actions; approximately $70 million paid during the nine months ended 2012-09-30 and all related amounts paid as of quarter-end. Employee counts not disclosed. | |||
| 2012-09-30 | restructuring | in_progress | 2012-10-08 | 2013-03-31 | Electronic Systems | USD 23 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Reorganization of Electronic Systems segment effective Dec 31, 2012. Charge recorded in Q3 2012 for elimination of certain positions. Payments expected through Q1 2013. | |||
| 2012-06-24 | other | completed | 2012-06-28 | United States | Aeronautics (F-35 program) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | International Association of Machinists and Aerospace Workers strike affecting F-35 production was settled on June 28, 2012; effect considered in F-35 LRIP sales discussion. | ||||
| 2012-06-24 | voluntary_separation | completed | 2010-01-01 | 2012-06-24 | United States | Aeronautics and Space Systems | USD 97 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | 2011 severance actions ($97 million net of state tax benefits; $49M Aeronautics, $48M Space Systems) substantially paid as of June 24, 2012; ~$65 million paid during the six months ended June 24, 2012. Action originally recorded in quarter ended June 26, 2011. | ||
| 2012-06-24 | other | announced | 2012-06-24 | 2012-09-30 | United States | Company-wide | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Conditional WARN Act notices to a substantial number of employees may be issued as early as Q3 2012 if sequestration is not changed or delayed; contingent, not yet executed. | |||
| 2012-06-24 | other | completed | 2012-06-28 | United States | Aeronautics | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Strike by the International Association of Machinists and Aerospace Workers affecting F-35 LRIP production; settled June 28, 2012, after the June 24, 2012 quarter end. No employee count or duration disclosed. | ||||
| 2012-06-24 | other | announced | United States | enterprise-wide | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Conditional WARN Act notices to a substantial number of employees may be issued as early as Q3 2012 if sequestration proceeds; contingent, no counts or dates disclosed. Company expects to recover related severance costs from customers. | |||||
| 2012-06-24 | restructuring | completed | 2011-06-26 | 2012-06-24 | United States | Aeronautics; Space Systems | USD 97 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges of $97 million recorded in Q2 2011 related to Aeronautics and Space Systems. Substantially all amounts paid by June 24, 2012. | ||
| 2012-06-24 | other | announced | 2012-06-24 | United States | Corporate | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Potential WARN Act notices to a substantial number of employees due to potential job terminations from sequestration, as early as Q3 2012. | ||||
| 2012-03-25 | other | in_progress | 3,600 | 2012-04-22 | United States | Aeronautics | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | IAM bargaining units rejected the last contract offer and initiated a strike; company operations remain open under a contingency plan. | |||
| 2012-03-25 | restructuring | in_progress | 2011-01-01 | United States | Aeronautics, IS&GS, Space Systems, Corporate Headquarters | USD 136 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | 2011 severance actions eliminating positions via voluntary or involuntary means; charges recorded in Q2 and Q3 2011; approximately $60 million paid in Q1 2012, with substantially all amounts paid as of March 25, 2012. | |||
| 2012-03-25 | restructuring | completed | 2011-06-30 | 2012-03-25 | United States | Aeronautics, IS&GS, Space Systems, and Corporate Headquarters | USD 136 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | 2011 voluntary/involuntary position eliminations; $136M charges recorded in Q2-Q3 2011; ~$60M severance paid in Q1 2012, with substantially all amounts paid as of quarter-end. Headcount affected not disclosed. | ||
| 2012-03-25 | other | announced | 3,600 | 2012-04-22 | United States | Aeronautics (IAM bargaining units) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | IAM bargaining units rejected the last contract offer and decided to strike; operations to remain open under a contingency plan. Subsequent-event disclosure after quarter-end. | |||
| 2012-03-25 | restructuring | completed | 2011-06-30 | 2012-03-25 | United States | Aeronautics, IS&GS, Space Systems, Corporate Headquarters | USD 60 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Payments of approximately $60 million for severance actions initiated in 2011. Substantially all amounts related to the 2011 actions have been paid as of March 25, 2012. | ||
| 2012-03-25 | other | announced | 3,600 | 2012-04-22 | United States | Aeronautics | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Bargaining units of the IAM rejected the last contract offer and decided to strike. Operations scheduled to remain open. | |||
| 2011-12-31 | restructuring | in_progress | 2011 | 2012-06-30 | Aeronautics | USD 49 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Component of a single 2011 severance program totaling $136M net of state tax benefits ($97M recorded in Q2 2011); planned position eliminations via voluntary or involuntary actions following strategic review. About half of program payments made in 2011, remainder due through H1 2012 (basis for expected completion date) | |||
| 2011-12-31 | restructuring | in_progress | 2011 | 2012-06-30 | Space Systems | USD 48 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Component of a single 2011 severance program totaling $136M net of state tax benefits ($97M recorded in Q2 2011); planned position eliminations via voluntary or involuntary actions following strategic review. About half of program payments made in 2011, remainder due through H1 2012 | |||
| 2011-12-31 | restructuring | in_progress | 2011 | 2012-06-30 | IS&GS and Corporate Headquarters | USD 39 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Component of a single 2011 severance program totaling $136M net of state tax benefits ($97M recorded in Q2 2011); planned position eliminations via voluntary or involuntary actions following strategic review. About half of program payments made in 2011, remainder due through H1 2012 | |||
| 2011-12-31 | acquisition_addition | completed | 2011 | IS&GS | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired QTC Holdings Inc., provider of outsourced medical evaluation services to the U.S. Government; closed in Q4 2011. Headcount added not disclosed | |||||
| 2011-12-31 | acquisition_addition | completed | 2011 | Electronic Systems | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired Sim-Industries B.V., a commercial aviation simulation company; closed in Q4 2011. Headcount added not disclosed | |||||
| 2011-12-31 | divestiture_reduction | completed | 2011-04-04 | IS&GS | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Sale of Pacific Architects and Engineers closed April 4, 2011; decision to sell was made in 2010 and results reported in discontinued operations through the sale date. Headcount removed not disclosed | |||||
| 2011-12-31 | divestiture_reduction | announced | 2011 | Electronic Systems | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Committed in Q3 2011 to a plan to sell Savi Technology, Inc., a logistics business, within one year; not closed as of fiscal year-end and results reported in discontinued operations. Headcount not disclosed | |||||
| 2011-12-31 | restructuring | completed | 2011-01-01 | 2012-06-30 | Primarily United States | Aeronautics, Space Systems, IS&GS and Corporate Headquarters | USD 136 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | 2011 severance actions from a strategic review; charge net of state tax benefits split $49M Aeronautics, $48M Space Systems, $39M IS&GS and Corporate HQ. Headcount affected not disclosed; payments expected through first half of 2012, about half paid during 2011 | ||
| 2011-12-31 | divestiture_reduction | completed | 2011-01-01 | 2011-04-04 | Not disclosed | Information Systems & Global Solutions (PAE) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of Pacific Architects and Engineers closed April 4, 2011; associated headcount not disclosed | |||
| 2011-12-31 | divestiture_reduction | announced | 2011-07-01 | 2012-06-30 | Not disclosed | Electronic Systems (Savi Technology) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Plan to sell Savi committed during Q3 2011 within one year; classified as discontinued operations; headcount not disclosed | |||
| 2011-12-31 | acquisition_addition | completed | 2011-10-01 | 2011-12-31 | Not disclosed | IS&GS (QTC Holdings) and Electronic Systems (Sim-Industries B.V.) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Both acquisitions closed in Q4 2011 for aggregate $649M of 2011 acquisition activity; headcount added not disclosed | |||
| 2011-12-31 | restructuring | completed | 2011 | 2012-06-30 | Global | Aeronautics, Space Systems, IS&GS, Corporate Headquarters | USD 136 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Workforce reductions resulting from strategic review to align organization and cost structure. Charges consisted of severance costs associated with planned elimination of certain positions through voluntary or involuntary actions. Payments expected through first half of 2012. | ||
| 2011-12-31 | voluntary_separation | completed | 2010 | 2011-05-01 | Global | Aeronautics, Electronic Systems, IS&GS, Space Systems, Corporate Headquarters | USD 178 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Voluntary Executive Separation Program (VESP) announced in 2010. Effective date of termination for most participants was February 1, 2011. All payments made as of December 31, 2011. | ||
| 2011-09-25 | restructuring | in_progress | 2011-09-25 | 2012-06-30 | Information Systems & Global Solutions and Corporate Headquarters | USD 39 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Q3 2011 severance charge, net of state tax benefits, for planned elimination of positions via voluntary or involuntary actions; payments expected through first half of 2012. | |||
| 2011-09-25 | restructuring | in_progress | 2011-06-26 | 2012-06-30 | Aeronautics | USD 49 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Second quarter 2011 severance charge, net of state tax benefits, related to Aeronautics segment workforce reductions. | |||
| 2011-09-25 | restructuring | in_progress | 2011-06-26 | 2012-06-30 | Space Systems | USD 48 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Second quarter 2011 severance charge, net of state tax benefits; approximately half of associated payments made in Q3 2011. | |||
| 2011-09-25 | voluntary_separation | completed | 2010-09-26 | 2011-02-01 | Company-wide (executives) | USD 178 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Voluntary Executive Separation Program charge recorded in Q3 2010; substantially all payments made as of September 25, 2011. | |||
| 2011-09-25 | restructuring | in_progress | 2011-09-25 | 2012-06-30 | Information Systems & Global Solutions; Corporate Headquarters | USD 39 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Charge recorded in Q3 2011, net of state tax benefits; date shown is period of charge, not announcement. Positions eliminated via voluntary or involuntary actions following a strategic review; lump-sum severance payments expected through the first half of 2012. No employee count disclosed. Charge reduced Q3 net earnings by $25 million ($.07 per share). | |||
| 2011-09-25 | restructuring | in_progress | 2011-06-26 | 2012-06-30 | Aeronautics | USD 49 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Component of the $97 million Q2 2011 severance charge (part of $136 million nine-month total), net of state tax benefits; date shown is period of charge, not announcement. Workforce reductions reflect program lifecycle transitions and cost-structure alignment. No employee count disclosed. | |||
| 2011-09-25 | restructuring | in_progress | 2011-06-26 | 2012-06-30 | Space Systems | USD 48 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Component of the $97 million Q2 2011 severance charge (part of $136 million nine-month total), net of state tax benefits; date shown is period of charge, not announcement. Approximately half of the associated severance payments were made in Q3 2011. No employee count disclosed. | |||
| 2011-09-25 | divestiture_reduction | announced | 2011-09-25 | Electronic Systems (Savi Technology, Inc.) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Company committed to a plan to sell Savi during Q3 2011; results reported in discontinued operations for all periods. Date shown is quarter of commitment (exact date not disclosed). No headcount disclosed; assets/liabilities not classified as held for sale as amounts were immaterial. | |||||
| 2011-09-25 | divestiture_reduction | completed | 2011-04-04 | 2011-04-04 | Information Systems & Global Solutions (Pacific Architects and Engineers, Inc.) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of PAE closed April 4, 2011 within the year-to-date period; results included in discontinued operations through the sale date. No headcount disclosed. | ||||
| 2011-09-25 | acquisition_addition | announced | 2011-09-27 | 2011-09-27 | Information Systems & Global Solutions (QTC Holdings Inc.) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of QTC Holdings Inc., a provider of outsourced medical evaluation services to the U.S. Government, for approximately $420 million net of cash acquired; closed two days after quarter end. No employee count disclosed; not expected to be material to future results. | ||||
| 2011-09-25 | restructuring | in_progress | 2011-07-01 | 2012-06-30 | Information Systems & Global Solutions; Corporate Headquarters | USD 39 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges related to IS&GS and Corporate HQ. Payments expected through first half of 2012. | |||
| 2011-09-25 | restructuring | in_progress | 2011-04-01 | 2012-06-30 | Aeronautics; Space Systems | USD 97 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Q2 2011 charges: $49M Aeronautics, $48M Space Systems. Payments expected through first half of 2012. | |||
| 2011-09-25 | voluntary_separation | completed | 2010-07-01 | 2011-05-01 | Corporate | USD 178 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Voluntary Executive Separation Program (VESP). Effective termination date Feb 1, 2011. Substantially all payments made as of Sept 25, 2011. | |||
| 2011-06-26 | reduction_in_force | in_progress | 2011-04-01 | 2011-12-31 | Aeronautics | USD 49 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Second quarter 2011 severance charge, net of state tax benefits, for planned elimination of positions at Aeronautics driven by government spending reductions; lump-sum payments based on years of service expected in second half of 2011. | |||
| 2011-06-26 | reduction_in_force | in_progress | 2011-04-01 | 2011-12-31 | Space Systems | USD 48 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Second quarter 2011 severance charge, net of state tax benefits, reflecting program lifecycles as major programs transition from development into production; payments expected in second half of 2011. | |||
| 2011-06-26 | voluntary_separation | completed | 2010-07-01 | 2011-06-26 | USD 178 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Voluntary Executive Separation Program charge was recorded in Q3 2010; most terminations effective February 1, 2011, with over 90% of lump-sum payments made in Q2 2011. | ||||
| 2011-06-26 | restructuring | in_progress | 2011-12-31 | United States | Aeronautics | USD 49 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Part of a $97 million net severance charge recorded in Q2 2011 for planned elimination of direct and indirect positions; workforce reduction reflects global economic conditions reducing government spending. No headcount count disclosed; lump-sum payments expected in H2 2011. | |||
| 2011-06-26 | restructuring | in_progress | 2011-12-31 | United States | Space Systems | USD 48 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Second component of the $97 million Q2 2011 severance charge; headcount reduction driven by program lifecycles as major programs transition from development to production. No headcount count disclosed; lump-sum payments expected in H2 2011. | |||
| 2011-06-26 | restructuring | in_progress | 2011-04-01 | 2011-12-31 | Aeronautics | USD 49 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges related to planned elimination of certain positions through voluntary or involuntary actions. Payments expected in second half of 2011. | |||
| 2011-06-26 | restructuring | in_progress | 2011-04-01 | 2011-12-31 | Space Systems | USD 48 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Severance charges related to planned elimination of certain positions. Headcount reduction reflects program lifecycles transitioning out of development. | |||
| 2011-06-26 | voluntary_separation | completed | 2010-07-01 | 2011-05-01 | Corporate | USD 178 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Voluntary Executive Separation Program (VESP) announced July 2010. Charge recorded in Q3 2010. Over 90% of lump-sum payments made in Q2 2011. | |||
| 2011-03-27 | voluntary_separation | in_progress | 2010-07 | USD 178 (millions) | other f5-10q / GLM-5.3-flash-fp4-HTML | Voluntary Executive Separation Program announced July 2010; $178 million charge recorded in Q3 2010 cost of sales net of state tax benefits. Most participants' employment terminated effective February 1, 2011, with lump-sum payments due within 90 days of separation. Remaining VESP liability approximately $165 million at March 27, 2011. | |||||
| 2011-03-27 | voluntary_separation | in_progress | 2010-07-01 | 2011-05-01 | United States | Corporate | USD 178 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Voluntary Executive Separation Program announced July 2010; $178M charge to cost of sales net of state tax benefits; ~$165M liability outstanding at 2011-03-27; most participants' employment terminated 2011-02-01 with lump-sum payments within 90 days of separation. Number of employees affected not disclosed. | ||
| 2011-03-27 | divestiture_reduction | completed | 2010-06-01 | 2010-11-22 | United States | Information Systems & Global Solutions (Enterprise Integration Group) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of EIG closed 2010-11-22; results reported in discontinued operations. Headcount removed not disclosed. | |||
| 2011-03-27 | divestiture_reduction | completed | 2010-06-01 | 2011-04-04 | United States | Information Systems & Global Solutions (Pacific Architects and Engineers) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of PAE closed 2011-04-04 (subsequent event); assets and liabilities classified as held for sale at 2011-03-27. Headcount removed not disclosed. | |||
| 2011-03-27 | voluntary_separation | in_progress | 2010-07-01 | USD 178 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Voluntary Executive Separation Program (VESP) announced in July 2010. Charge of $178M recorded in Q3 2010. Liabilities of $165M remained as of March 27, 2011. Effective termination date for most participants was Feb 1, 2011. | |||||
| 2010-12-31 | voluntary_separation | in_progress | 600 | 2010-07 | 2011-02-01 | Company-wide (executives across all segments and Corporate) | USD 178 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Voluntary Executive Separation Program announced July 2010 for qualifying executives; approximately 600 executives (about 25% of the executive population, not of total workforce) were approved to participate. Charge recorded in cost of sales net of state income tax benefits; most terminations effective 2011-02-01 with lump-sum payments due within 90 days of separation. Charge allocated by segment: Aeronautics $25M, Electronic Systems $38M, IS&GS $42M, Space Systems $41M, Corporate $32M. | ||
| 2010-12-31 | plant_closure | in_progress | 2010 | 2013 | Eagan, Minnesota (facility closing); operations relocating to other MS2 locations | Electronic Systems - Mission Systems & Sensors (MS2) | USD 42 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Plan announced in Q4 2010 to consolidate certain MS2 operations, primarily closing the Eagan, Minnesota facility. Charge recorded net of state income tax benefits reduced 2010 net earnings by $27 million; majority of the charge was severance accruals, remainder asset impairment. Number of employees affected not disclosed; activities expected complete by 2013. | ||
| 2010-12-31 | divestiture_reduction | completed | 2010-06 | 2010-11-22 | IS&GS - Enterprise Integration Group (EIG) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Divestiture plan announced June 2010; sale completed 2010-11-22 for $815 million, generating a net-of-tax gain of $184 million and net proceeds of $798 million after transaction costs. Headcount transferred with the business not disclosed; EIG results reported in discontinued operations for all periods. | ||||
| 2010-12-31 | divestiture_reduction | in_progress | 2010-06 | 2011 | IS&GS - Pacific Architects and Engineers (PAE) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Divestiture plan announced June 2010; PAE classified as held for sale at 2010-12-31. Subsequent event: definitive sale agreement announced 2011-02-22 with closing expected in Q2 2011. Fiscal 2010 effects included a $182 million deferred tax asset and a $109 million impairment charge (combined net increase of $73 million to discontinued operations). Headcount affected not disclosed. | ||||
| 2010-12-31 | voluntary_separation | in_progress | 600 | 2010-07-31 | 2011-02-01 | United States | Corporation-wide (executive population) | USD 178 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Voluntary Executive Separation Program announced July 2010; approximately 600 executives, about 25% of the total executive population, applied and were approved. Charge is net of state income tax benefits and reduced 2010 net earnings by $116 million ($.31 per share). Effective termination date for most participants was 2011-02-01, with lump-sum payments within 90 days of separation. Charge allocated by segment: Aeronautics $25M, Electronic Systems $38M, IS&GS $42M, Space Systems $41M, Corporate $32M. | |
| 2010-12-31 | plant_closure | in_progress | 2010-10-01 | 2013-12-31 | United States | Electronic Systems — Mission Systems & Sensors (MS2) | USD 42 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Fourth quarter 2010 plan to consolidate certain MS2 operations, primarily closing the Eagan, Minnesota facility and moving operations to other MS2 locations. Charge is net of state income tax benefits and reduced 2010 net earnings by $27 million ($.07 per share); majority relates to severance accruals with the remainder to asset impairment. Employees affected not disclosed; activities expected to complete by 2013. | ||
| 2010-12-31 | divestiture_reduction | completed | 2010-06-30 | 2010-11-22 | United States | Information Systems & Global Solutions — Enterprise Integration Group (EIG) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of most of EIG closed 2010-11-22 for $815 million; decision driven by U.S. Government concerns about perceived organizational conflicts of interest. Headcount removed not disclosed; EIG results reported in discontinued operations for all periods presented. | |||
| 2010-12-31 | divestiture_reduction | announced | 2011-02-22 | 2011-06-30 | United States | Information Systems & Global Solutions — Pacific Architects and Engineers (PAE) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Subsequent event: definitive agreement to sell PAE announced 2011-02-22, expected to close in Q2 2011 subject to closing conditions. Decision announced June 2010; PAE classified as held for sale at 2010-12-31. Headcount removed not disclosed. | |||
| 2010-12-31 | voluntary_separation | completed | 600 | 2010-07-01 | 2011-02-01 | Global | Executive | USD 178 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Voluntary Executive Separation Program (VESP). Approximately 600 executives applied and were approved. Charge of $178 million net of state income tax benefits. Effective termination date for most participants was February 1, 2011. | |
| 2010-12-31 | restructuring | in_progress | 2010-10-01 | 2013-12-31 | United States | Electronic Systems - Mission Systems & Sensors | USD 42 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | MS2 facilities consolidation plan. Charge of $42 million net of state income tax benefits. Majority associated with severance accruals. Expected completion by 2013. | ||
| 2010-12-31 | restructuring | in_progress | Mission Systems and Sensors [Member] | USD 42,000,000 (absolute) | restructuring_footnote f5-10k / no-ai-xblr | ||||||
| 2010-09-26 | voluntary_separation | in_progress | 600 | 2010-07-01 | 2011-02-01 | Executives (company-wide); segment attribution: Aeronautics $25M, Electronic Systems $38M, IS&GS $42M, Space Systems $41M, Corporate $32M | USD 178 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Charge recorded in Q3 2010, net of state income tax benefits, for lump-sum special payments to approved participants; about 600 executives (~25% of executive population) approved; most terminations effective February 1, 2011 with payments within 90 days of separation. Reduced net earnings by $116 million ($0.32/share Q3; $0.31/share nine months). | ||
| 2010-09-26 | voluntary_separation | in_progress | 600 | 25% | 2010-07 | 2011-02-01 | Global | Corporate executives | USD 178 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Approximately 600 executives, about 25% of the total executive population, were approved to participate. Charge is net of state income tax benefits; reduced net earnings by $116 million ($.32 per diluted share in Q3). Lump-sum payments made within 90 days of separation, most participants terminating February 1, 2011. The 25% figure is a share of the executive population, not of total workforce. Company expects substantial cost recovery through U.S. Government contract pricing. |
| 2010-09-26 | divestiture_reduction | in_progress | 2010-06 | 2010-12-31 | Global | Information Systems & Global Solutions (IS&GS) — Pacific Architects and Engineers, Inc. (PAE) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Plans to divest PAE announced June 2010; results reported in discontinued operations for all periods presented. Company believes it probable the sale closes around end of 2010. No headcount associated with the divestiture is disclosed. | |||
| 2010-09-26 | divestiture_reduction | announced | 2010-10-13 | 2010-12-31 | United States | Information Systems & Global Solutions (IS&GS) — Enterprise Integration Group (EIG) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement to sell EIG for $815 million announced October 13, 2010, after quarter end; expected to close by end of 2010 subject to Hart-Scott-Rodino review. Original plan to divest announced June 2010; most of EIG reclassified to discontinued operations in Q3 2010. No headcount associated with the divestiture is disclosed. | |||
| 2010-09-26 | voluntary_separation | in_progress | 600 | 2010-07-01 | 2011-02-01 | Executive | USD 178 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Voluntary Executive Separation Program (VESP) announced in July 2010. Approximately 600 executives applied and were approved. Effective termination date for most participants is February 1, 2011. | ||
| 2010-06-27 | voluntary_separation | announced | 2010-07-06 | 2011-02-01 | United States | Management employees (excludes Sandia, PAE, Savi Technology, LMIMCo, and EIG employees) | other f5-10q / GLM-5.3-flash-fp4-HTML | Voluntary termination window program effective July 6, 2010, running approximately July 6 to September 7, 2010; eligible volunteers receive termination dates on or after February 1, 2011 with termination benefits including a follow-on benefits payment. | |||
| 2010-06-27 | divestiture_reduction | announced | 2010-06-01 | 2010-12-31 | Information Systems & Global Solutions — Pacific Architects and Engineers (PAE) | other f5-10q / GLM-5.3-flash-fp4-HTML | Sale of PAE classified as discontinued operations and held for sale; closing expected around end of 2010. No headcount disclosed. | ||||
| 2010-06-27 | divestiture_reduction | announced | 2010-06-01 | 2010-12-31 | Information Systems & Global Solutions — Enterprise Integration Group (EIG) | other f5-10q / GLM-5.3-flash-fp4-HTML | Evaluating sale versus spin-off of most of EIG; transaction expected around end of 2010. No headcount disclosed. | ||||
| 2010-06-27 | voluntary_separation | announced | 2010-07-06 | 2010-09-07 | United States | Management employees | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Voluntary termination window for certain management employees, effective July 6, 2010 through approximately September 7, 2010; eligible terminations occur on or after February 1, 2011. No number of participating employees or associated charge disclosed. Excludes employees of Sandia, PAE, Savi Technology, LMIMCo, and the Enterprise Integration Group. | |||
| 2010-06-27 | voluntary_separation | announced | 2010-07-06 | 2011-02-01 | United States | Management | subsequent_events f5-10q / Qwen3.6-27B-Q8_0 | Company announced a voluntary termination plan for certain management employees (levels L7-L9, excluding NEOs) to reduce management workforce. Window opens July 6, 2010, with termination date of Feb 1, 2011. | |||
| 2008-12-31 | acquisition_addition | completed | 2008-04-30 | 2008-04-30 | United States | Information Systems & Global Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Eagle Group International, LLC completed in April 2008; headcount added not disclosed. | |||
| 2008-12-31 | acquisition_addition | completed | 2008-08-31 | 2008-08-31 | Australia | Electronic Systems | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquired remaining co-owner interest in RLM Holdings Pty Ltd in August 2008, reaching 100% ownership; headcount added not disclosed. | |||
| 2008-12-31 | acquisition_addition | completed | 2008-09-30 | 2008-09-30 | United States | Electronic Systems | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Aculight Corporation completed in September 2008; headcount added not disclosed. | |||
| 2007-12-31 | acquisition_addition | completed | 2007-02-01 | United States | Information Systems & Global Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Management Systems Designers Inc. (MSD), an IT and scientific solutions provider, completed in February 2007; headcount added not disclosed. Approximately $160 million total used for 2007 acquisition activities including prior-year payment obligations. | ||||
| 2007-12-31 | divestiture_reduction | completed | 2007-04-01 | United States | Corporate activities | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of remaining 20% interest in Comsat International for $26 million in cash in Q2 2007; headcount removed not disclosed. | ||||
| 2006-12-31 | acquisition_addition | completed | 2006-09 | Information Technology & Global Services | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired Pacific Architects and Engineers, Inc., provider of military readiness, peacekeeping, nation-building and disaster relief services; headcount added not disclosed. One of five 2006 acquisitions for aggregate cash of $1.0 billion. | |||||
| 2006-12-31 | acquisition_addition | completed | 2006 | Integrated Systems & Solutions | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired Savi Technology, Inc., developer of active radio frequency identification solutions; headcount added not disclosed. | |||||
| 2006-12-31 | acquisition_addition | completed | 2006 | Information Technology & Global Services | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired Aspen Systems Corporation, an information management company delivering business process and technology solutions; headcount added not disclosed. | |||||
| 2006-12-31 | acquisition_addition | completed | 2006 | Electronic Systems | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired ISX Corporation, provider of military decision systems and other information technology solutions; headcount added not disclosed. | |||||
| 2006-12-31 | acquisition_addition | completed | 2006 | Electronic Systems | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired HMT Vehicles, a military vehicle design company; headcount added not disclosed. | |||||
| 2006-12-31 | divestiture_reduction | completed | 2006-10 | Space Systems | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Sold ownership interests in Lockheed-Khrunichev-Energia International and ILS International Launch Services, which marketed Proton commercial launch services through Russian partners; headcount impact not disclosed; transaction not recognized as a divestiture for financial reporting due to continuing customer-refund obligations, with an approximately $60 million net gain deferred. | |||||
| 2006-12-31 | other | completed | 2006-12-01 | Space Systems — Atlas launch vehicle business | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Formed United Launch Alliance, a 50/50 joint venture with Boeing, contributing Atlas business assets with net book value of approximately $200 million in exchange for a 50% interest; workforce transfer not quantified; approximately $600 million of 2006 Atlas launch services sales to the U.S. Government will shift to equity-method accounting. | |||||
| 2006-12-31 | restructuring | announced | 2007-02-22 | IT&GS and IS&S combined into new Information Systems & Global Services segment; Aircraft & Logistics Centers moved to Aeronautics; Sandia National Laboratories contract and Atomic Weapons Establishment interest to Electronic Systems; Transportation and Security Solutions to IS&GS | subsequent_events f5-10k / GLM-5.3-flash-HTML | Operational realignment announced after fiscal year-end to enhance support for customer missions and increase integration of resources; no headcount impact, layoffs, or charges quantified; new reporting structure effective with first quarter of 2007. | |||||
| 2006-12-31 | acquisition_addition | completed | United States | IT&GS, IS&S, Electronic Systems | USD 1,000 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Five businesses acquired in 2006 (Pacific Architects and Engineers, Savi Technology, Aspen Systems, ISX Corporation, HMT Vehicles); aggregate cash paid for 2006 acquisitions was $1.0 billion ($1.1 billion including 2005-deal payments). No headcount added is disclosed. | ||||
| 2006-12-31 | divestiture_reduction | completed | 2006-10-01 | International (Russia-related joint ventures) | Space Systems | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of ownership interests in LKEI and ILS completed October 2006; not recognized as a divestiture for financial reporting purposes due to retained refund obligations. No workforce impact disclosed. | ||||
| 2006-12-31 | other | announced | 2007-02-22 | United States | Enterprise-wide (IT&GS and IS&S combined into new IS&GS segment; Aircraft & Logistics Centers moved to Aeronautics; Sandia and AWE interests moved to Electronic Systems; Transportation and Security Solutions moved to IS&GS) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Post-fiscal-year organizational realignment announced 2007-02-22; no headcount reduction, charge, or employee-impact figures disclosed; reporting under new structure begins Q1 2007 | ||||
| 2006-09-30 | acquisition_addition | completed | United States | Multiple (I&TS, IS&S, Electronic Systems) | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Five acquisitions completed in first nine months of 2006 (Pacific Architects and Engineers, Savi Technology, Aspen Systems, ISX Corporation, HMT Vehicles); aggregate cash paid $1.1 billion; no headcount added disclosed. | |||||
| 2006-09-30 | divestiture_reduction | announced | 2006-10 | Russia / International | Space Systems — Launch Services | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of LKEI and ILS interests to Space Transport Inc. in October 2006; not recognized as divestiture for financial reporting due to continuing refund obligations; no headcount disclosed. | ||||
| 2005-12-31 | acquisition_addition | completed | 2005-03 | 2005-03 | United States | Information & Technology Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Purchase of The SYTEX Group, Inc. for approximately $480 million; headcount added not disclosed | |||
| 2005-12-31 | acquisition_addition | completed | 2005 | 2005 | United States; United Kingdom | Integrated Systems & Solutions; Electronic Systems; Space Systems | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Consolidated record for three 2005 acquisitions (STASYS Limited, INSYS Group Limited, Coherent Technologies) with aggregate cash purchase price of $180 million; headcount added not disclosed | |||
| 2005-12-31 | acquisition_addition | completed | 2006-01 | 2006-01 | United States | other | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Subsequent-event acquisition of Aspen Systems Corporation, completed January 2006 after fiscal year-end; purchase price and headcount not disclosed | |||
| 2005-09-30 | acquisition_addition | completed | 2005-02 | 2005-02 | United Kingdom | Integrated Systems & Solutions | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of STASYS Limited, a U.K. technology and consulting firm; described as not material to consolidated results, financial position or cash flows. No headcount disclosed. | |||
| 2005-09-30 | acquisition_addition | completed | 2005-03 | 2005-03 | United States | Information & Technology Services | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of The SYTEX Group, Inc. for approximately $480 million total purchase price, including about $380 million of goodwill. No employee headcount disclosed. | |||
| 2005-09-30 | acquisition_addition | announced | 2005-10 | 2005-10 | United States | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Post-quarter acquisitions of INSYS Group Limited and Coherent Technologies completed in October 2005 for cash totaling approximately $150 million. No headcount disclosed. | ||||
| 2005-03-31 | acquisition_addition | completed | 2005-03-31 | 2005-03-31 | United States | Information & Technology Services | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Purchase of The SYTEX Group, Inc. completed 2005-03-31 for approx. $480M; approx. $380M goodwill recorded; headcount added not disclosed. Operations included in I&TS segment beginning Q2 2005. | |||
| 2005-03-31 | acquisition_addition | completed | 2005-02 | 2005-02 | United Kingdom | Integrated Systems & Solutions | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of STASYS Limited, a U.K. network communications and defense interoperability firm; described as not material to consolidated results; headcount added not disclosed. | |||
| 2004-12-31 | acquisition_addition | announced | 2005-02 | MD&A f5-10k / GLM-5.3-flash-HTML | Subsequent event: definitive agreement signed February 2005 to acquire The SYTEX Group, Inc. (TSGI) for net consideration of $462 million; TSGI provides IT solutions and technical support services to the DoD and other federal agencies. Closing expected early 2005, subject to Hart-Scott-Rodino review and other conditions. Headcount to be added was not disclosed. | ||||||
| 2004-12-31 | acquisition_addition | announced | 2005-02 | 2005 | United States | Information Technology services to DoD and federal agencies | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement to acquire The SYTEX Group, Inc. for net consideration of $462 million; expected to close in early 2005 subject to government approvals. No headcount associated with the transaction is disclosed. | |||
| 2004-12-31 | divestiture_reduction | completed | 2004 | 2004 | United States | COMSAT General business (Space Systems / commercial satellite services) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of the COMSAT General business completed during 2004 with a $28 million pre-tax gain; no headcount impact disclosed. | |||
| 2004-12-31 | divestiture_reduction | completed | 2004-11 | 2004-11 | International | New Skies Satellites, N.V. (equity investment) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of the Corporation's shares in New Skies Satellites to a private equity firm for $148 million with a $59 million net gain; no headcount impact disclosed. | |||
| 2004-06-30 | divestiture_reduction | announced | 2004-05 | 2004-12-31 | United States | Space Systems (COMSAT General) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Agreement announced in May 2004 to sell COMSAT General to Intelsat for $90 million cash; expected to close in Q4 2004. No headcount impact disclosed. | |||
| 2003-12-31 | restructuring | completed | 2003 | USD 41 (millions) | MD&A f5-10k / GLM-5.3-flash-HTML | Decision to exit the commercial mail sorting business; charge recorded in cost of sales in second quarter 2003 and related primarily to impairment of the business's inventories. Employee impact not disclosed. | |||||
| 2003-12-31 | acquisition_addition | announced | 2003-09 | United States | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Pending merger of The Titan Corporation announced September 2003, valued at about $2.4 billion including assumed debt. Not closed during fiscal 2003; subject to Titan stockholder approval, absence of material adverse change, and other conditions. Headcount impact not disclosed. | |||||
| 2003-12-31 | acquisition_addition | completed | 2003-11 | United States | Information & Technology Services | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Acquired majority of ACS's federal government IT business for approximately $585 million including transaction-related costs; acquired operations included in I&TS segment. Headcount added through the acquisition not disclosed. | ||||
| 2003-12-31 | divestiture_reduction | completed | 2003-11 | Information & Technology Services (majority of divested operations); Integrated Systems & Solutions (remainder) | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Concurrent with the ACS purchase, commercial IT business units were sold to ACS; company received about $110 million cash and recorded a $15 million gain net of state income taxes. Headcount removed not disclosed. | |||||
| 2003-12-31 | acquisition_addition | completed | 2003-11 | 2003-11 | United States | Information & Technology Services | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Acquisition of ACS federal government IT business, total purchase price approximately $585 million including transaction costs; headcount added not disclosed. Item 1 narrative dates the transaction to December 2003 while MD&A and the footnote date it November 2003. | |||
| 2003-12-31 | divestiture_reduction | completed | 2003-11 | 2003-11 | United States | Information & Technology Services; Integrated Systems & Solutions | USD 15 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Concurrent sale of commercial IT business units to ACS for approximately $110 million cash; $15 million gain net of state income taxes. Headcount removed not disclosed. | ||
| 2003-12-31 | restructuring | completed | 2003-06-30 | 2003-12-31 | United States | Electronic Systems — commercial mail sorting business | USD 41 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Charge related to exit from the commercial mail sorting business, primarily inventory impairment; $27 million after tax ($0.06 per diluted share), recorded in the second quarter of 2003. Employees affected not disclosed. | ||
| 2003-12-31 | acquisition_addition | announced | 2003-09 | 2004-03-31 | United States | Defense and IT services | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pending acquisition of The Titan Corporation, announced value approximately $2.4 billion including assumed debt; 16 to 22 million LMT shares expected to be issued. As of February 13, 2004, SEC investigation and DOJ criminal inquiry into Titan payments to international consultants were disclosed; either party may terminate if not completed by March 31, 2004. Headcount to be added not disclosed. | |||
| 2003-09-30 | restructuring | completed | United States | Commercial mail sorting business | USD 41 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Charge recorded in Q2 2003 for the decision to exit the commercial mail sorting business, primarily asset impairment; net of state taxes it reduced net earnings by $27 million ($0.06 per diluted share). No employee count or announcement date disclosed. | ||||
| 2003-09-30 | acquisition_addition | completed | United States | Integrated Systems & Solutions | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | ORINCON Corporation International acquired in Q2 2003; operations combined with IS&S. Filer states the acquisition was not material to consolidated results, financial position or cash flows. No headcount added disclosed. | |||||
| 2003-09-30 | acquisition_addition | announced | 2003-09-15 | 2004-03-31 | United States | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement to acquire The Titan Corporation announced 2003-09-15; announced transaction value approx. $2.4 billion including assumed debt, payable 50% cash / 50% stock. Titan reported nine-month 2003 sales of $1.3 billion. Expected to close in Q1 2004 subject to Titan stockholder and regulatory approvals. No headcount disclosed. | ||||
| 2003-09-30 | acquisition_addition | announced | 2003-08-01 | 2003-12-31 | United States | Federal government IT business (acquired) / commercial IT business (divested) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Two definitive agreements with Affiliated Computer Services announced 2003-08-01: Lockheed Martin to acquire ACS's federal government IT business while ACS acquires Lockheed Martin's commercial IT business; net cash payment from Lockheed Martin approx. $550 million. HSR waiting periods expired 2003-09-15; both expected to close in Q4 2003. ACS federal IT revenues approx. $700 million (FY ended 2003-06-30); Lockheed Martin commercial IT revenues approx. $300 million (FY 2002). No headcount disclosed for either business. | |||
| 2003-09-30 | divestiture_reduction | in_progress | International | Lockheed Martin Intersputnik (LMI) — telecommunications services | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | LMI treated as a discontinued operation and actively marketed for sale; a prior sale agreement was terminated in April 2003. Assets and liabilities represent less than 1% of consolidated totals. No headcount disclosed. | |||||
| 2003-06-30 | restructuring | in_progress | Commercial mail sorting business | USD 41 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q2 2003 charge of $41 million, net of state income tax benefits, for the decision to exit the commercial mail sorting business, primarily asset impairment; reduced net earnings by $27 million ($0.06 per diluted share). Employees affected and completion timing not disclosed. | |||||
| 2003-06-30 | acquisition_addition | completed | Integrated Systems and Solutions | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of ORINCON Corporation International, a privately held defense and information technology company, completed in Q2 2003 with operations combined into the ISS segment; described as not material to consolidated results. Headcount added not disclosed. | ||||||
| 2003-06-30 | acquisition_addition | announced | 2003-08-01 | 2003-12-31 | United States | Federal government information technology business | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement announced August 1, 2003 to acquire ACS's federal government IT business (revenues of approximately $700 million for FY ended June 30, 2003); expected to close Q4 2003 and conditioned on the concurrent sale of the commercial IT business. Headcount added not disclosed. | |||
| 2003-06-30 | divestiture_reduction | announced | 2003-08-01 | 2003-12-31 | United States | Commercial information technology business | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Concurrent agreement announced August 1, 2003 to sell the commercial IT business to ACS (revenues of approximately $300 million for FY ended December 31, 2002); net cash payment from Lockheed Martin of about $550 million across both transactions, expected close Q4 2003. Headcount removed not disclosed. | |||
| 2002-12-31 | restructuring | in_progress | 2001-07 | United States | Space Systems — Commercial Satellite | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Consolidation and streamlining of management, engineering and manufacturing organizations begun July 2001 and advanced in 2002 in response to commercial satellite overcapacity; no headcount or charge quantified | ||||
| 2002-12-31 | divestiture_reduction | completed | United States | Discontinued operations — Satellite Services (COMSAT Mobile Communications, COMSAT World Systems) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Both sales completed during 2002; described as having no material impact on consolidated results or financial position; headcount not disclosed | |||||
| 2002-12-31 | divestiture_reduction | completed | 2002-10-31 | International | Discontinued operations — COMSAT International | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Sale of an 81% ownership interest completed October 2002; headcount not disclosed | ||||
| 2002-12-31 | divestiture_reduction | announced | 2002-07 | 2003-12-31 | International | Discontinued operations — Lockheed Martin Intersputnik (LMI) | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Agreement to sell reached in Q3 2002; expected to close in 2003 subject to regulatory approvals and moving the LMI satellite to another orbital slot; headcount not disclosed | |||
| 2002-12-31 | divestiture_reduction | completed | United States | Technology Services — Commercial Information Technology | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Three non-core commercial IT businesses divested in 2002 as part of focus on core markets; no material impact on consolidated results; headcount not disclosed | |||||
| 2002-12-31 | divestiture_reduction | announced | China | Technology Services — Commercial Aircraft Services joint venture | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Agreement entered into during 2002 to divest the company's share of a commercial aircraft services joint venture in China; headcount not disclosed | |||||
| 2002-12-31 | other | completed | United States | Technology Services — Military Aircraft (Kelly Aviation Center, San Antonio, Texas) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Limited partnership established in 2002 with GE Aircraft Engines to overhaul and upgrade GE military engine lines; company owns 85% of the partnership; headcount not disclosed | |||||
| 2002-03-31 | other | completed | 2002-04-28 | United States (primarily Marietta, Georgia) | Aeronautics | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | IAM union members at Aeronautics facilities ratified an agreement and returned to work April 28, 2002, ending a seven-week strike. Corporation does not expect a material impact on 2002 results, financial position or cash flows. | ||||
| 2002-03-31 | other | completed | 2002-04-28 | United States (primarily Marietta, Georgia) | Aeronautics | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Seven-week strike by International Association of Machinists & Aerospace Workers at certain Aeronautics facilities; ratified agreement and returned to work 2002-04-28. Management did not expect a material impact on 2002 results, financial position, or cash flows. No affected-employee count disclosed. | ||||
| 2002-03-31 | other | completed | 2002-04-28 | Marietta, Georgia | Aeronautics | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Strike by International Association of Machinists & Aerospace Workers ended April 28, 2002 after seven weeks; employees returned to work. | ||||
| 2001-12-31 | restructuring | in_progress | 650 | 2001-12-07 | 2002-12-31 | Global (incl. Latin America — Argentina/Brazil; satellite services) | Global Telecommunications (former segment); administrative infrastructure and held-for-sale businesses (Satellite Services, COMSAT-International) | USD 2 (billions) | MD&A f5-10k / GLM-5.3-flash-HTML | Approximately 650 positions eliminated from the former Global Telecommunications segment; Q4 2001 charges (~$2.0B, net of state income tax benefits) comprise ~$1.4B discontinued-operations charges (incl. ~$1.2B goodwill impairment, ~$170M long-lived asset impairment, severance and facilities costs), ~$132M satellite JV investment charges, ~$43M severance/facilities for realigned units, and ~$367M Astrolink write-off; reduced 2001 net earnings ~$1.7B ($3.98 per diluted share); cash impact not expected to be material; sales of held-for-sale businesses (COMSAT Mobile Communications sold to Telenor in Q1 2002) expected complete by end of 2002. | |
| 2001-12-31 | divestiture_reduction | completed | 2001-08-24 | 2001-08-24 | United States | Corporate and Other (Lockheed Martin IMS Corporation) | USD 476 (millions) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Sale of wholly-owned IMS subsidiary completed August 24, 2001 for $825M cash; $476M is a net gain on sale (after state income taxes), not a charge, increasing 2001 net earnings $309M; net cash proceeds ~$560M; transferred headcount not disclosed; 104 US leasehold locations (~1M sq ft) assigned per Item 2; results reclassified to discontinued operations. | ||
| 2001-12-31 | divestiture_reduction | completed | 2001-01 | 2001-01 | United States (Ukiah, California facilities referenced) | Environmental management line of business (two business units) | MD&A f5-10k / GLM-5.3-flash-HTML | Two business units divested in January 2001; impact on 2001 results not material due to impairment losses recorded in 2000 and 1999; headcount not disclosed; Item 2 notes leasehold interests at eight Ukiah, CA locations (~150,000 sq ft) assigned. | |||
| 2001-12-31 | acquisition_addition | completed | 2001-12-07 | 2001-12-07 | United States | Technology Services (integrated into Information Support Services to form Lockheed Martin Information Technology) | MD&A f5-10k / GLM-5.3-flash-HTML | Acquired all outstanding stock of OAO Corporation, a federal government IT solutions provider, on December 7, 2001; OAO's 2001 revenues approximated 1% of corporate net sales; headcount added not disclosed. | |||
| 2001-12-31 | plant_closure | completed | 1998 | 2001-12-31 | United States | CalComp Technology, Inc. (majority-owned subsidiary) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Multi-year program: decision to fund a non-bankruptcy shutdown of CalComp taken in Q4 1998 with an original $233M pretax charge (prior year, not extracted); FY2001 activity was completion — shutdown substantially completed as of December 31, 2001; a ~$33M partial reversal was recorded in 2000; no FY2001 charge or affected-headcount figure disclosed. | |||
| 2001-12-31 | restructuring | in_progress | 650 | 2001-12-07 | Global | Global Telecommunications | USD 2,000 (millions) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Approximately 650 positions eliminated as part of exit from global telecom services business; $2.0B total charges net of state tax benefits, of which $1.4B in discontinued operations and $132M in other charges | ||
| 2001-12-31 | acquisition_addition | completed | 2001-12-07 | 2001-12-07 | United States | Technology Services | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | OAO Corporation acquired December 7, 2001; headcount added not disclosed | |||
| 2001-12-31 | divestiture_reduction | completed | 2001-08-24 | 2001-08-24 | United States | Corporate and Other | discontinued_operations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Lockheed Martin IMS Corporation sold for $825M cash; headcount removed not disclosed | |||
| 2001-12-31 | restructuring | completed | 650 | 2001-12-07 | Global | Global Telecommunications | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Approximately 650 positions eliminated from the former Global Telecommunications segment as part of the exit strategy announced in Q4 2001. | |||
| 2000-12-31 | divestiture_reduction | completed | 2000-07 | 2000-11 | Systems Integration - Aerospace Electronics Systems (Sanders, Fairchild Systems, Space Electronics & Communications) | USD 598 (millions) | other f5-10k / GLM-5.3-flash-HTML | Sale to BAE SYSTEMS for $1.67 billion cash closed November 2000. Full-year nonrecurring pretax loss of $598 million (initial Q3 impairment of ~$755 million reduced by $157 million Q4 adjustment); loss included in other income and expenses. Headcount of the divested businesses not disclosed. | |||
| 2000-12-31 | divestiture_reduction | completed | 2000-09-25 | Systems Integration - Control Systems business | other f5-10k / GLM-5.3-flash-HTML | Sold to BAE SYSTEMS for $510 million cash, generating a nonrecurring gain, net of state income taxes, of $302 million; no charge recorded. Headcount not disclosed. | |||||
| 2000-12-31 | acquisition_addition | completed | 1998-09 | 2000-08-03 | Global Telecommunications | business_combinations_footnote f5-10k / GLM-5.3-flash-HTML | Two-phase merger: 49% tender offer in September 1999; second phase consummated August 3, 2000 via issuance of ~27.5 million Lockheed Martin shares. Total purchase price approximately $2.6 billion net of cash acquired; COMSAT headcount not disclosed. | ||||
| 2000-12-31 | divestiture_reduction | completed | 2001-01 | Environmental management line of business (two business units) | MD&A f5-10k / GLM-5.3-flash-HTML | Divestiture completed in January 2001, after fiscal year-end but before filing; impact not material due to impairment losses recorded in 2000 and 1999. Headcount not disclosed. | |||||
| 2000-12-31 | divestiture_reduction | completed | 2000-12 | Systems Integration - Lockheed Martin Canada, adaptive notch filter (ANF) business | Item_1_Business f5-10k / GLM-5.3-flash-HTML | Sale to Illinois Superconductor Corp. completed in December 2000; consideration was ISCO common stock rather than cash. Headcount and charges not disclosed. | |||||
| 2000-12-31 | acquisition_addition | completed | 1998-09-01 | 2000-08-03 | United States | Global Telecommunications | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Merger with COMSAT Corporation completed August 3, 2000; total purchase price ~$2.6 billion. Employee headcount added not disclosed. | |||
| 2000-12-31 | divestiture_reduction | completed | 2000-07-01 | 2000-11-27 | United States | Systems Integration — Aerospace Electronics Systems | USD 598 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | AES businesses sold to BAE SYSTEMS for $1.67 billion cash; nonrecurring loss of $598M including state income taxes. Employee headcount affected not disclosed. | ||
| 2000-12-31 | divestiture_reduction | completed | 2000-07-01 | 2000-09-25 | United States | Systems Integration — Control Systems | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Control Systems sold to BAE SYSTEMS for $510 million cash; gain of $302M net of state income taxes. Employee headcount affected not disclosed. | |||
| 2000-09-30 | acquisition_addition | completed | 1998-09 | 2000-08-03 | United States | Global Telecommunications | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Merger with COMSAT Corporation completed August 3, 2000; COMSAT operations consolidated from August 1, 2000. No employee headcount disclosed. | |||
| 2000-09-30 | divestiture_reduction | announced | 2000-07-13 | 2000-12-31 | United States | Systems Integration — Aerospace Electronics Systems | USD 755 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Agreement to sell AES businesses to BAE SYSTEMS for $1.67B cash; impairment loss of ~$755M recorded. Expected to close Q4 2000. No employee headcount disclosed. | ||
| 2000-09-30 | divestiture_reduction | completed | 2000-07-13 | 2000-09-25 | United States | Control Systems | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of Lockheed Martin Control Systems to BAE SYSTEMS for $510M cash completed September 25, 2000. No employee headcount disclosed. | |||
| 2000-06-30 | divestiture_reduction | announced | 2000-04-01 | 2000-12-31 | United States | Lockheed Martin Control Systems | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of Control Systems to BAE SYSTEMS for $510M cash announced April 2000; pending DOJ antitrust review. No employee count disclosed. Expected pretax gain ~$300M. | |||
| 2000-06-30 | divestiture_reduction | announced | 2000-07-13 | 2000-12-31 | United States | Aerospace Electronics Systems (AES) | USD 750 (millions) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Sale of AES businesses to BAE SYSTEMS for $1.67B cash announced July 13, 2000. Expected impairment loss ~$750M pretax / ~$1B after-tax in Q3 2000. No employee count disclosed. | ||
| 2000-06-30 | acquisition_addition | completed | 1998-09-01 | 2000-08-03 | United States | Corporate and Other (LMGT) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | COMSAT merger completed August 3, 2000 via issuance of ~27.5M shares; total purchase price ~$2.6B net of cash. No employee/headcount figure disclosed for acquired workforce. | |||
| 2000-06-30 | restructuring | completed | CalComp Technology, Inc. | USD -33 (millions) | other f5-10q / Qwen3.6-27B-Q8_0 | Reversal of $33 million pretax charge related to shutdown of CalComp operations; 'terminated substantially all of its work force'. | |||||
| 2000-03-31 | divestiture_reduction | announced | 2000-04-27 | 2000-09-30 | United States | Lockheed Martin Control Systems | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement to sell Lockheed Martin Control Systems to BAE SYSTEMS North America for $510 million cash; expected pretax gain of $300–350 million. No employee count disclosed. | |||
| 2000-03-31 | divestiture_reduction | announced | 2000-04-27 | United States | Aerospace electronics, environmental management, state and local government services | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Continuing evaluation of divestiture of certain other non-core business units; combined Q1 2000 net sales of $367 million including Control Systems. No employee counts disclosed. | ||||
| 2000-03-31 | restructuring | in_progress | 1999-12-31 | United States | CalComp Technology, Inc. | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | CalComp subsidiary dissolution ongoing; substantially all assets sold and substantially all of its work force terminated as of March 31, 2000. Original pretax charge of $233 million recorded in Q4 1998. No specific employee count disclosed. | ||||
| 2000-03-31 | restructuring | in_progress | 2000-01-01 | United States | Aeronautical Systems and Space Systems | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Plans announced January 2000 to streamline both segments by consolidating multiple business units into one company each and integrating operational and administrative activities. No employee counts or charges disclosed. | ||||
| 2000-03-31 | restructuring | completed | CalComp Technology, Inc. | other f5-10q / Qwen3.6-27B-Q8_0 | CalComp terminated substantially all of its work force as part of corporate dissolution process. | ||||||
| 1999-12-31 | plant_closure | completed | 1998 | 1999-12-31 | CalComp Technology, Inc. (majority-owned commercial peripherals subsidiary) | USD 233 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Corporation-funded timely non-bankruptcy shutdown announced in Q4 1998; pretax charge (net of state tax) covered goodwill impairment, asset writedowns, severance, warranty/commitment and exit costs. By December 31, 1999 CalComp had sold substantially all assets and terminated substantially its entire work force, with corporate dissolution initiated; roughly 10% of the original charge was reversed in Q4 1999. Employee count not disclosed. | |||
| 1999-12-31 | restructuring | in_progress | 1997 | Environmental remediation line of business; fixed-price systems development line of business (children and family services) | USD 40 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Exit decisions originally announced in Q4 1996 (environmental remediation) and Q4 1997 (children and family services fixed-price systems, within larger $457 million exit/impairment charges); incremental pretax charge of approximately $40 million recorded in 1999; remaining initiatives not completed at fiscal year-end. Employee count not disclosed. | ||||
| 1999-12-31 | divestiture_reduction | completed | 1999-09 | 1999-12 | United States | Energy Programs (Technology Services) — subsidiary holding environmental management prime contract at DoE Hanford facility | Item_1_Business f5-10k / GLM-5.3-flash-HTML | Announced September 1999 as part of core-business focus; divestiture consummated in December 1999 with immaterial net-earnings impact. Employee count not disclosed. | |||
| 1999-12-31 | divestiture_reduction | completed | 1999-09 | 1999-09 | Airport Group International Holdings, LLC | USD 33 (millions) | MD&A f5-10k / GLM-5.3-flash-HTML | Sale of interest completed September 1999, producing a pretax gain of $33 million (a gain, not a charge; recorded in other income). Employee count not disclosed. | |||
| 1999-12-31 | divestiture_reduction | completed | 1999-10 | 1999-10 | Real 3D, Inc. — commercial 3D graphics business | USD 33 (millions) | MD&A f5-10k / GLM-5.3-flash-HTML | Exit from commercial 3D graphics business via a series of transactions including sale of majority-owned subsidiary Real 3D, completed October 1999; pretax gain of $33 million (a gain, not a charge). Combined with the Airport Group sale, increased net earnings by $43 million. Employee count not disclosed. | |||
| 1999-12-31 | divestiture_reduction | announced | 1999-09 | Aerospace Electronics and Control Systems businesses (Systems Integration); environmental management businesses plus two other Technology Services units; Lockheed Martin IMS state/local government services business (Corporate and Other) | USD 850 (millions) | MD&A f5-10k / GLM-5.3-flash-HTML | Non-core business units with combined 1999 net sales of $1.9 billion identified beginning September 1999 (expanded January 2000) as candidates for divestiture; estimated combined one-time net loss on disposition of roughly $850 million, primarily non-cash (an estimate, not a recorded charge), against potential proceeds exceeding $1.5 billion earmarked for debt repayment. Timing and consummation not assured. Employee counts not disclosed. | ||||
| 1999-12-31 | restructuring | announced | 2000-01 | Aeronautical Systems and Space Systems segments | MD&A f5-10k / GLM-5.3-flash-HTML | Announced January 2000 (subsequent to fiscal year-end, before the March 2000 filing): consolidation of multiple business units into one focused company per segment with integration of operational and administrative activities; management expects future cost savings. Forward-looking statements reference recently announced business-area streamlining and staff reductions. No headcount disclosed. | |||||
| 1999-12-31 | restructuring | completed | 1995 | 1999-12-31 | Corporate-wide consolidation following Lockheed–Martin Marietta merger | USD 690 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Merger-related and consolidation program launched at 1995 formation of Lockheed Martin; $690 million pretax charges recorded in 1995. Cumulative payments of approximately $1.2 billion through December 31, 1999 (cumulative through fiscal year-end, not incremental to 1999); consolidation actions substantially completed by fiscal year-end per the original plan. Employee counts not disclosed. | |||
| 1999-12-31 | restructuring | announced | 1999-09-27 | United States | Multiple segments — Aerospace Electronics, Control Systems, Environmental Management, state and local government services | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Combined 1999 net sales of businesses identified for divestiture totaled $1.9 billion. No employee counts disclosed. Management estimated potential one-time net loss on disposition of ~$850 million, primarily non-cash, with potential proceeds exceeding $1.5 billion in cash. | ||||
| 1999-12-31 | restructuring | announced | 2000-01-01 | United States | Aeronautical Systems and Space Systems segments | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Announced January 2000 (subsequent to fiscal year-end). Consolidation of multiple business units into one focused company per segment, with integration of operational and administrative activities. Forward-looking statements reference 'business area streamlining and staff reductions' but no employee counts or charges disclosed. | ||||
| 1999-12-31 | divestiture_reduction | completed | 1999-09-01 | 1999-12-31 | United States | Technology Services — environmental management line of business (Hanford facility prime contract subsidiary) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Divestiture consummated December 1999; impact on net earnings was not material. No employee count disclosed. | |||
| 1999-12-31 | plant_closure | completed | 1998-10-01 | 1999-12-31 | United States | Corporate and Other — CalComp Technology, Inc. (commercial 3D printing/graphics) | USD 233 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Charge recorded in Q4 1998; by December 31, 1999 CalComp had consummated sales of substantially all assets, terminated substantially all workforce, and initiated corporate dissolution. Approximately 10% of original pretax charge reversed in Q4 1999. No employee count disclosed. | ||
| 1999-12-31 | divestiture_reduction | completed | 1999-10-01 | 1999-10-31 | United States | Corporate and Other — commercial 3D graphics business (Real 3D, Inc.) | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pretax gain of $33 million; increased net earnings by $43 million combined with Airport Group International sale. No employee count disclosed. | |||
| 1999-12-31 | restructuring | completed | 1999-09-01 | 1999-12-31 | United States | Corporate and Other | USD 233 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Shutdown of CalComp Technology, Inc. subsidiary. Charge included impairment, writedowns, severance, and exit costs. Workforce terminated substantially. | ||
| 1999-12-31 | divestiture_reduction | completed | 1999-12-01 | 1999-12-31 | United States | Technology Services | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Divestiture of environmental management subsidiary at Hanford facility. Impact on net earnings not material. | |||
| 1999-09-30 | restructuring | announced | 1999-09-27 | United States | Corporate | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Announced realignment into four segments effective 1999-10-01, with plans to flatten management structure and reduce corporate staff; no employee count or charge disclosed. | ||||
| 1999-09-30 | divestiture_reduction | announced | 1999-09-27 | United States | Aerospace electronics, control systems, environmental management | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Potential divestiture of certain non-core business units; management estimated one-time net earnings decrease of approximately $1 billion (primarily non-cash) if consummated, with over $1 billion in potential proceeds. No employee counts disclosed. | ||||
| 1999-09-30 | plant_closure | in_progress | 1998-10-01 | 1999-12-31 | United States | Corporate and Other (CalComp Technology, Inc.) | USD 233 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Non-bankruptcy shutdown of CalComp; pretax charge of $233M net of state tax benefits recorded in Q4 1998. Substantially all assets sold and workforce terminated by 1999-09-30; no employee count disclosed in this filing. | ||
| 1999-09-30 | restructuring | completed | 1998-10-01 | 1999-12-31 | United States | Corporate and Other | USD 233 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Shutdown of CalComp Technology, Inc. business. Pretax charge of $233 million recorded in Q4 1998. Workforce terminated substantially all. Shutdown process expected to be substantially completed by end of 1999. | ||
| 1999-09-30 | restructuring | in_progress | 1999-09-27 | Global | Corporate | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Announced plans to realign businesses, flatten management structure, and reduce corporate staff. No specific headcount or charge disclosed in this filing. | ||||
| 1999-06-30 | restructuring | in_progress | 1998-10-01 | 1999-12-31 | Information & Services | USD 233 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Shutdown of CalComp Technology, Inc. subsidiary; pretax charge of $233 million recorded in Q4 1998. Substantially all work force terminated as of June 30, 1999. | |||
| 1999-03-31 | restructuring | in_progress | 1999-09-30 | United States | Information & Services (CalComp Technology, Inc.) | USD 233 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Majority-owned subsidiary CalComp is conducting a timely non-bankruptcy shutdown; approximately 75% of its domestic workforce terminated as of March 31, 1999. Nonrecurring pretax charge of $233 million (net of state tax benefits) recorded in Q4 1998; management expects shutdown substantially complete in Q3 1999. | |||
| 1999-03-31 | plant_closure | in_progress | 1998-10-01 | 1999-09-30 | United States | Information & Services (CalComp Technology, Inc.) | USD 233 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Non-bankruptcy shutdown of CalComp; approximately 75% of CalComp's domestic workforce terminated as of 1999-03-31; charge is pretax net of state tax benefits recorded in Q4 1998; no absolute headcount disclosed | ||
| 1999-03-31 | restructuring | in_progress | 75% | 1998-10-01 | 1999-09-30 | Domestic | CalComp Technology, Inc. | USD 233 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Non-bankruptcy shutdown of CalComp; 75% of domestic workforce terminated as of March 31, 1999. Charge recorded in Q4 1998. | |
| 1998-12-31 | restructuring | in_progress | 1998 | Information & Services (CalComp Technology, Inc., majority-owned subsidiary) | USD 233 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Q4 1998: Corporation declined to extend credit and agreed to fund a timely non-bankruptcy shutdown of CalComp's business. Pretax charge (net of state tax benefits) comprises ~$75M goodwill impairment, ~$73M asset writedowns, ~$25M severance and other employee costs, ~$37M warranty/commitment costs, ~$23M other exit costs; reduced net earnings by $183M ($0.48 per diluted share). Number of employees affected not disclosed. | ||||
| 1998-12-31 | divestiture_reduction | completed | 1998 | Electronics (Commercial Electronics unit) | MD&A f5-10k / GLM-5.3-flash-HTML | Commercial Electronics unit divested during the first quarter of 1998; no employee headcount transfer or reduction figures disclosed. | |||||
| 1998-12-31 | divestiture_reduction | announced | 1998-12 | United States and Canada (business served) | Information & Services (communications industry services business) | Item_1_Business f5-10k / GLM-5.3-flash-HTML | In December 1998, agreed (subject to regulatory processes) to divest the business that serves as the North American Numbering Plan administrator and local number portability administrator for the U.S. and Canada; headcount impact not disclosed. | ||||
| 1998-12-31 | restructuring | in_progress | 1998-12-31 | United States | Information & Services | USD 233 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Q4 1998 pretax charge net of state tax benefits for CalComp Technology shutdown; includes goodwill impairment ~$75M, asset writedowns ~$73M, severance ~$25M, warranty/commitments ~$37M, other exit costs ~$23M; after-tax charge $183M or $0.48/diluted share | |||
| 1998-12-31 | divestiture_reduction | completed | Electronics | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Commercial Electronics unit divested during Q1 1998; no employee count or charge disclosed | ||||||
| 1998-12-31 | restructuring | completed | 1998-10-01 | Information & Services | USD 25 (millions) | restructuring_footnote f5-10k / Qwen3.6-27B-Q8_0 | Shutdown of CalComp Technology, Inc. operations. Charge included $25 million for estimated severance and other employee costs. Total pretax charge was $233 million. | ||||
| 1997-12-31 | restructuring | in_progress | 12,000 | 1995 | 1998-12-31 | United States and international | Corporate-wide | USD 525 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Multi-year corporate-wide consolidation plan announced in Q2 1995; the 12,000 figure is the cumulative program scope (up to approximately 12,000 positions) tied to closing facilities, laboratories and duplicative field offices in the U.S. and abroad. Cumulative merger-related and consolidation payments of approximately $1.0 billion through December 31, 1997, including $68 million paid in 1997; roughly $400 million of additional costs anticipated; remaining actions expected substantially complete by end of 1998. The $525 million was the original pretax charge recorded in 1995. | |
| 1997-12-31 | restructuring | in_progress | 1997 | Non-strategic lines of business — fixed price systems development (children and family services) and environmental remediation | USD 200 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Approximately $200 million of Q4 1997 pretax charges reflected estimated effects of exiting non-strategic lines of business, including the fixed price systems development line in children and family services and increased estimated exposures on environmental remediation lines identified in 1996; part of $457 million total nonrecurring and unusual charges recorded in the quarter. No employee count or completion timeline disclosed. | ||||
| 1997-12-31 | divestiture_reduction | completed | 1996-11 | 1997-01-02 | Armament Systems and Defense Systems business units (Electronics) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Two business units sold to General Dynamics; proposed November 1996, closed January 2, 1997 (sale effective January 1, 1997) with $450 million cash received; no pretax effect on 1996 or 1997 results; no employee count disclosed. | ||||
| 1997-12-31 | divestiture_reduction | completed | 1997-03 | 1997-04-30 | 10 non-core business units repositioned as L-3 Communications Corporation | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Definitive agreement valued at approximately $525 million executed March 1997; closed April 30, 1997 with effective date of March 30, 1997; Lockheed Martin retained a 34.9 percent ownership interest; no material earnings impact; no employee count disclosed. | ||||
| 1997-12-31 | divestiture_reduction | completed | 1997-11-03 | 1997-11-17 | Access Graphics and thrust reversers businesses (via newly formed subsidiary LMT Sub) | discontinued_operations_footnote f5-10k / GLM-5.3-flash-HTML | Stock of LMT Sub — two non-core commercial business units contributing roughly 5 percent of 1997 net sales, the Globalstar investment, and approximately $1.6 billion in cash — exchanged for all Series A preferred stock held by GE; reduced stockholders' equity by about $2.8 billion and produced a $311 million tax-free gain; no employee count disclosed. | ||||
| 1997-12-31 | divestiture_reduction | completed | 1997-11-03 | 1997-11-17 | United States | Information & Services; Aeronautics | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Access Graphics and thrust reverser businesses exchanged to GE; contributed approximately 5% of 1997 net sales; no employee count disclosed | |||
| 1997-12-31 | divestiture_reduction | completed | 1997-03-01 | 1997-04-30 | United States | Information & Services | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | 10 non-core business units repositioned as L-3 Communications Corporation; contributed approximately 2% of net sales; no employee count disclosed | |||
| 1997-12-31 | divestiture_reduction | completed | 1996-11-01 | 1997-01-02 | United States | Electronics | MD&A f5-10k / MiMo-V2.6-Flash-fp8-HTML | Armament Systems and Defense Systems business units sold to General Dynamics; no employee count disclosed | |||
| 1997-12-31 | restructuring | in_progress | 1995-04-01 | 1998-12-31 | United States and international | Corporate-wide | USD 400 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Multi-year consolidation plan initiated 1995 to eliminate up to approximately 12,000 positions; approximately $400M of future costs expected; cumulative payments approximately $1.0B through 1997; no current-year-specific headcount reduction disclosed | ||
| 1997-12-31 | acquisition_addition | announced | 1997-07-03 | United States | Electronics; Information & Services; Aeronautics; Energy and Other | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Merger agreement valued at approximately $11.6B; stockholders approved Feb 26, 1998; DOJ opposition unresolved as of filing date; no employee count disclosed | ||||
| 1997-12-31 | restructuring | completed | 12,000 | 1995-06-01 | 1998-12-31 | United States and abroad | Corporate-wide | USD 525 (millions) | MD&A f5-10k / Qwen3.6-27B-Q8_0 | 1995 consolidation plan to close facilities and eliminate up to 12,000 positions. Management anticipates remaining actions substantially completed by end of 1998. | |
| 1997-12-31 | divestiture_reduction | completed | 1996-11-01 | 1997-01-02 | United States | Armament Systems and Defense Systems | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Divestiture of Armament Systems and Defense Systems to General Dynamics. No employee count disclosed. | |||
| 1997-12-31 | divestiture_reduction | completed | 1997-03-01 | 1997-04-30 | United States | L-3 Communications Corporation | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Repositioning of 10 non-core business units as L-3 Communications. No employee count disclosed. | |||
| 1997-12-31 | divestiture_reduction | completed | 1997-11-01 | 1997-11-17 | United States | Access Graphics and Thrust Reversers | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Exchange of Access Graphics and thrust reversers businesses to GE. No employee count disclosed. | |||
| 1997-09-30 | divestiture_reduction | completed | 4,900 | 1997-02 | 1997-04-30 | United States | Multiple non-core business units | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Ten non-core business units repositioned as L-3 Communications Corporation; approximately 4,900 employees transferred. Transaction closed April 30, 1997 with effective date March 30, 1997. Disclosed in this filing but occurred prior to Q3. | ||
| 1997-09-30 | divestiture_reduction | completed | 4,900 | 1997-02-01 | 1997-04-30 | Non-core business units (L-3 Communications) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | 10 non-core business units repositioned as L-3 Communications Corporation. Transaction closed April 30, 1997 with effective date March 30, 1997. | |||
| 1997-06-30 | divestiture_reduction | completed | 4,900 | 1997-02 | 1997-04-30 | United States | 10 non-core business units repositioned as L-3 Communications Corporation | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement valued at ~$525 million executed March 1997; effective March 30, 1997, closed April 30, 1997. Lockheed Martin retained 34.9% ownership. Approximately 4,900 employees transferred; contributed ~2% of net sales in Q1 1997. | ||
| 1997-06-30 | acquisition_addition | announced | 1997-07-03 | United States | Northrop Grumman Corporation — full company combination | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Merger agreement dated July 2, 1997, announced July 3, 1997. Total estimated value ~$11.6 billion including ~$3.1 billion of Northrop Grumman debt assumed. Exchange ratio 1.1923 LMT shares per Northrop Grumman share. Expected to close late 1997 or early 1998. No employee headcount disclosed for the transaction. | ||||
| 1997-06-30 | divestiture_reduction | completed | 4,900 | 1997-02-01 | 1997-04-30 | Non-core business units (L-3 Communications) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Transaction closed April 30, 1997, with effective date March 30, 1997. Business units had approximately 4,900 employees. | |||
| 1997-03-31 | divestiture_reduction | completed | 4,900 | 1997-03 | 1997-04-30 | United States | 10 non-core business units (high-technology, product-oriented) | USD 525 (millions) | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Definitive agreement valued at ~$525M to reposition 10 non-core units as L-3 Communications Corporation; LMC retained 34.9% ownership. ~4,900 employees moved to L-3. Closed 1997-04-30 with effective date 1997-03-30. Units contributed ~2% of net sales in Q1 1997. | |
| 1997-03-31 | divestiture_reduction | completed | 1997-01-02 | United States | Armament Systems and Defense Systems businesses | MD&A f5-10q / MiMo-V2.6-Flash-fp8-HTML | Divestiture to General Dynamics Corporation concluded with receipt of $450M cash on 1997-01-02. No employee count disclosed. | ||||
| 1997-03-31 | divestiture_reduction | completed | 4,900 | 1997-02-01 | 1997-04-30 | Non-core business units (L-3 Communications) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | 10 non-core business units repositioned as L-3 Communications Corporation; transaction closed April 30, 1997 with effective date March 30, 1997. | |||
| 1996-12-31 | restructuring | completed | 1,600 | 1996 | Corporate-wide — reorganization of three sectors, facility closures and program relocations | other f5-10k / GLM-5.3-flash-HTML | Net 1,600 jobs announced for elimination during 1996 in connection with a reorganization of three sectors, closure of unneeded facilities and relocation/combination of major programs. Figure is a net number; timing of full execution not separately disclosed. Presented separately from the 1995 corporate-wide consolidation plan in Note 4. | ||||
| 1996-12-31 | restructuring | in_progress | 12,000 | 1995 | 1998-12-31 | U.S. and international | Corporate-wide — facility and laboratory closures, elimination of duplicative field offices | USD 525 (millions) | restructuring_footnote f5-10k / GLM-5.3-flash-HTML | Multi-year program announced in the second quarter of 1995 with a $525 million pretax charge, covering elimination of up to approximately 12,000 positions. Presented in this 10-K on a cumulative basis: merger related and consolidation payments totaled approximately $452 million through December 31, 1996; management estimates a further $750 million of costs, with remaining actions substantially completed by the end of 1998. Count shown is the program-level total announced in 1995, not 1996-specific activity. | |
| 1996-12-31 | divestiture_reduction | completed | 1996 | 1996-10-23 | Martin Marietta Materials, Inc. (Energy, Materials and Other) | other f5-10k / GLM-5.3-flash-HTML | Remaining 81 percent interest in Materials distributed via an oversubscribed exchange offer announced during the third quarter of 1996 and completed October 23, 1996; approximately 7.9 million Lockheed Martin shares exchanged for 37.35 million Materials shares, reducing shares outstanding by roughly 4 percent and stockholders' equity by $750 million. Pretax gain of $365 million recognized in Q4 1996. Employee headcount of Materials not disclosed. | ||||
| 1996-12-31 | divestiture_reduction | completed | 1996-11 | 1997-01-01 | Armament Systems and Defense Systems business units (Electronics Sector) | USD 450 (millions) | other f5-10k / GLM-5.3-flash-HTML | Sale of assets to General Dynamics Corporation announced November 1996 and effective January 1, 1997, with $450 million cash received January 2, 1997. No pretax effect on 1996 results; $450 million of net assets included in other current assets at year-end. Employee headcount of the divested units not disclosed. | |||
| 1996-12-31 | divestiture_reduction | announced | 4,900 | 1997-01-31 | 1997-06-30 | Non-core component- and product-oriented businesses to be repositioned as Newco Corporation | USD 525 (millions) | subsequent_events f5-10k / GLM-5.3-flash-HTML | Memorandum of understanding signed January 31, 1997 to create Newco, owned 50.1 percent by Lehman Brothers Capital Partners III, 34.9 percent by Lockheed Martin and 15 percent by management. Businesses have approximately 4,900 employees and 1996 revenues exceeding $650 million. Total purchase price of $525 million (Newco Class A shares plus $479.835 million cash); closing subject to definitive agreement and approvals, expected in the first half of 1997. | ||
| 1996-12-31 | plant_closure | in_progress | 1996 | 1998-12-31 | Electronics Sector — consolidation of four facilities | other f5-10k / GLM-5.3-flash-HTML | Extensive consolidation plan implemented during 1996 and targeted for completion in 1998 will close four facilities, eliminate 1.9 million square feet of capacity and reduce operating costs about $85 million annually. Employee impact not quantified. Separate restructuring actions initiated in 1995 were completed in 1996 ahead of schedule. | ||||
| 1996-12-31 | plant_closure | in_progress | 1996 | 1998-12-31 | Ontario, California | Aeronautics Sector — Skunk Works Ontario plant | other f5-10k / GLM-5.3-flash-HTML | All work at the Ontario plant to be relocated to Palmdale, California facilities in a consolidation resulting in closure of the Ontario plant in 1998. Employee impact not quantified. | |||
| 1996-12-31 | plant_closure | announced | 1996-10 | Charleston, South Carolina | Aeronautics Sector — aircraft components plant | other f5-10k / GLM-5.3-flash-HTML | Decision to close an aircraft components plant announced in October 1996, attributed to continuing declines in defense procurement spending. Closure timing and employee impact not quantified. | ||||
| 1996-12-31 | restructuring | in_progress | 1995-06-30 | 1998-12-31 | United States and international | Corporate-wide | USD 525 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Multi-year corporate-wide consolidation plan originally announced Q2 1995 with $525M pretax charge targeting elimination of up to approximately 12,000 positions; 1996-specific headcount not separately disclosed. Management estimated $750M of additional future costs, with remaining actions substantially complete by end of 1998. | ||
| 1996-12-31 | acquisition_addition | completed | 1996-01-07 | 1996-04-29 | United States | Electronics; Information & Services; Energy, Materials and Other | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Loral Corporation acquired for $38/share, total purchase price approximately $7.6 billion; headcount added not disclosed. Operations included from April 1, 1996. | |||
| 1996-12-31 | restructuring | completed | 1,600 | 1996-12-31 | 1996-12-31 | United States and international | Three reorganized sectors | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Net 1,600 jobs eliminated in connection with 1996 reorganization of three sectors, facility closures, and program relocations. No specific announcement date disclosed; occurred during 1996. Approximately half of the $307M Q4 1996 nonrecurring charges related to environmental remediation strategy, remainder to corporate efficiency actions. | ||
| 1996-12-31 | divestiture_reduction | completed | 1996-10-23 | 1996-10-23 | United States | Energy, Materials and Other | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Martin Marietta Materials divested via exchange offer; 37.35M Materials shares exchanged for 7.9M LMT shares. Headcount impact not disclosed. | |||
| 1996-12-31 | divestiture_reduction | completed | 1996-11-30 | 1997-01-01 | United States | Electronics — Armament Systems and Defense Systems | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Armament Systems and Defense Systems sold to General Dynamics for $450M; completed January 1, 1997. Headcount impact not disclosed. Corporation retained responsibility for certain investigations related to divested business. | |||
| 1996-12-31 | divestiture_reduction | announced | 4,900 | 1997-01-31 | 1997-06-30 | United States | Non-core product-oriented businesses (former C/3I & Systems Integration Sector) | subsequent_events f5-10k / MiMo-V2.6-Flash-fp8-HTML | Memorandum of understanding to establish Newco Corporation; Lehman Brothers Capital Partners III to own 50.1%, LMT 34.9%, management 15%. Approximately 4,900 employees with 1996 revenues exceeding $650M. Subject to definitive agreement and regulatory approvals; expected to close first half of 1997. | ||
| 1996-12-31 | restructuring | completed | 1,600 | 1996 | Global | Corporate-wide | MD&A f5-10k / Qwen3.6-27B-Q8_0 | Net elimination of 1,600 jobs in connection with reorganization of three sectors, closure of unneeded facilities, and relocation of major programs. | |||
| 1996-12-31 | acquisition_addition | completed | 1996-04-23 | Global | Electronics, Information & Services, Energy & Environment | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Acquisition of Loral Corporation defense electronics and systems integration businesses. Specific headcount added not disclosed, but operations included from April 1, 1996. | ||||
| 1996-12-31 | divestiture_reduction | completed | 1996-10-23 | United States | Energy, Materials and Other | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Divestiture of Martin Marietta Materials, Inc. via exchange offer. Specific headcount removed not disclosed. | ||||
| 1996-12-31 | divestiture_reduction | completed | 1997-01-02 | United States | Electronics | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Divestiture of Armament Systems and Defense Systems businesses to General Dynamics Corporation. Specific headcount removed not disclosed. | ||||
| 1996-09-30 | restructuring | in_progress | 12,000 | 1995-04-01 | U.S. and abroad | Corporate-wide | USD 690 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Corporate-wide consolidation plan announced 1995 to close facilities and laboratories and eliminate duplicative field offices, eliminating up to approximately 12,000 positions. Pretax charges of $165 million (merger related, Q1 1995) and $525 million (consolidation, Q2 1995) totaling $690 million were recorded in 1995. Cumulative merger related and consolidation expenditures were approximately $390 million as of September 30, 1996. No new charges recorded in 1996. | ||
| 1996-09-30 | acquisition_addition | completed | 1996-01-07 | 1996-04-29 | Electronics; C3I & Systems Integration; Information, Energy and Other | USD 7,300 (millions) | business_combinations_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Acquisition of Loral's defense electronics and systems integration businesses (renamed Tactical Systems) for approximately $7.3 billion net of cash acquired; operations included from April 1, 1996. No employee headcount figures disclosed. | |||
| 1996-09-30 | divestiture_reduction | completed | 1996-10-23 | 1996-10-23 | Martin Marietta Materials, Inc. (81% interest) | USD 350 (millions) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Exchange Offer completed October 23, 1996: approximately 7.9 million Lockheed Martin common shares exchanged for 37.35 million Materials shares; Corporation retains no remaining ownership interest and reduced shares outstanding by approximately 4 percent. Anticipated gain of approximately $350 million in Q4 1996. No employee headcount figures disclosed. | |||
| 1996-09-30 | divestiture_reduction | announced | 1996-11-07 | 1996-12-31 | Armament Systems and Defense Systems business units | USD 450 (millions) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Definitive agreement announced November 7, 1996 to sell Armament Systems and Defense Systems business units to General Dynamics Corporation for $450 million, subject to adjustment; expected to close by end of 1996 with immaterial effect on net earnings. No employee headcount figures disclosed. | |||
| 1996-09-30 | acquisition_addition | completed | 1996-01-07 | 1996-04-29 | United States | Electronics, C3I & Systems Integration, Information Energy and Other | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Acquisition of Loral defense electronics and systems integration businesses (renamed Tactical Systems). Operations included from April 1, 1996. No employee headcount disclosed. | |||
| 1996-09-30 | divestiture_reduction | completed | 1996-07-01 | 1996-10-23 | United States | Martin Marietta Materials, Inc. | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Exchange Offer distributing 81% interest in Materials to stockholders; completed October 23, 1996. No employee headcount disclosed. | |||
| 1996-09-30 | divestiture_reduction | announced | 1996-11-07 | 1996-12-31 | United States | Armament Systems and Defense Systems | USD 450 (millions) | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Agreement to sell Armament Systems and Defense Systems to General Dynamics for $450 million. No employee headcount disclosed. | ||
| 1996-09-30 | restructuring | in_progress | 12,000 | 1996-01-01 | United States and abroad | Corporate-wide | USD 525 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | 1995 corporate-wide consolidation plan to close facilities/labs and eliminate up to 12,000 positions. Cumulative expenditures approx $390 million as of Sept 30, 1996. | ||
| 1996-09-30 | acquisition_addition | completed | 1996-04-29 | Defense electronics and systems integration | business_combinations_footnote f5-10q / Qwen3.6-27B-Q8_0 | Acquisition of Loral's defense electronics and systems integration businesses (Tactical Systems). Headcount not explicitly disclosed. | |||||
| 1996-06-30 | restructuring | in_progress | 12,000 | 1995-06 | U.S. and abroad | Corporate-wide | USD 690 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Corporate-wide consolidation plan announced in Q2 1995 to close facilities and laboratories and eliminate duplicative field offices, eliminating up to approximately 12,000 positions. Six-month 1995 pretax charge of $690 million ($525 million in Q2 1995 plus $165 million Q1 1995 merger related expenses). Cumulative merger related and consolidation expenditures of approximately $350 million as of June 30, 1996. | ||
| 1996-06-30 | acquisition_addition | completed | 1996-01-07 | 1996-04-29 | Information & Technology Services; Electronics | USD 7,300 (millions) | business_combinations_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Acquisition of Loral's defense electronics and systems integration businesses for approximately $7.3 billion net of cash acquired; operations of Tactical Systems included from April 1, 1996. No headcount figure disclosed. | |||
| 1996-06-30 | divestiture_reduction | announced | 1996-07-26 | 1996-12-31 | Energy, Materials and Other (81% interest in Martin Marietta Materials) | subsequent_events f5-10q / GLM-5.3-flash-fp4-HTML | Split-off of the 81 percent interest in Martin Marietta Materials via exchange offer to stockholders, expected tax-free by end of 1996; Corporation anticipates recognizing a gain. No headcount figure disclosed. | ||||
| 1996-06-30 | acquisition_addition | completed | 1996-01-07 | 1996-04-29 | United States | Information & Technology Services; Electronics | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Tender offer completed 1996-04-23; merger completed 1996-04-29. Operations included from 1996-04-01. No headcount disclosed. | |||
| 1996-06-30 | divestiture_reduction | announced | 1996-07-26 | 1996-12-31 | United States | Energy, Materials and Other | subsequent_events f5-10q / MiMo-V2.6-Flash-fp8-HTML | Martin Marietta Materials split-off via exchange offer of 81% stake; no headcount disclosed. | |||
| 1996-06-30 | restructuring | completed | 12,000 | 1995-04-01 | United States and abroad | Corporate-wide | USD 525 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Pretax charge of $525 million recorded in Q2 1995 for corporate-wide consolidation plan closing facilities and eliminating up to 12,000 positions. | ||
| 1996-03-31 | acquisition_addition | completed | 1996-01-07 | 1996-04-29 | United States | Defense electronics and systems integration | business_combinations_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Tender offer for Loral Corporation at $38/share; Loral renamed Lockheed Martin Tactical Systems. Total purchase price ~$7 billion. No employee headcount disclosed for acquired workforce. | |||
| 1995-12-31 | restructuring | in_progress | 12,000 | 1995-06-26 | 2000-06-26 | United States and international | Corporate-wide | USD 525 (millions) | Item_1_Business f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge of $525M recorded in Q2 1995 for non-recoverable portion; total implementation cost estimated at ~$1.7B over five years; closes 12 facilities/laboratories and 26 duplicative field offices; eliminates ~7.7 million sq ft of excess capacity; positions eliminated over five-year period | |
| 1995-12-31 | restructuring | completed | 1995-01-01 | 1995-03-31 | United States and international | Corporate-wide | USD 165 (millions) | restructuring_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Pre-tax charge for merger related expenses recorded in Q1 1995 following March 15, 1995 business combination of Lockheed Corporation and Martin Marietta Corporation; no employee count disclosed for this charge | ||
| 1995-12-31 | restructuring | in_progress | 12,000 | 1995-06-26 | 1999-12-31 | United States and abroad | Corporate-wide | USD 1,700 (millions) | Item_1_Business f5-10k / Qwen3.6-27B-Q8_0 | Consolidation plan to close 12 facilities/labs and 26 field offices, eliminating approx. 12,000 positions over five years. Total cost estimated at $1.7 billion. Pre-tax charge of $525 million recorded in Q2 1995. | |
| 1995-09-30 | restructuring | in_progress | 12,000 | 1995-06-26 | United States and abroad | Corporate-wide | USD 525 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Corporate-wide consolidation plan to close 12 facilities and laboratories plus 26 duplicative field offices, eliminating 12,000 positions and 7.7 million square feet of capacity over five years. Total implementation cost approximately $1.7 billion, largely completed over next two years; $525 million pretax charge recorded in Q2 1995 for the portion not expected to be recovered in future U.S. government contract pricing. | ||
| 1995-09-30 | restructuring | in_progress | 1995-03-15 | Corporate-wide | USD 165 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Merger related expenses recorded in Q1 1995 covering fees, other payments, and relocation and severance costs associated with Lockheed Martin headquarters and sector staffing following the March 15, 1995 Business Combination. | ||||
| 1995-09-30 | restructuring | in_progress | 12,000 | 1995-06-26 | 2000-06-30 | United States and international | Corporate-wide | USD 525 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Corporate-wide consolidation plan: close 12 facilities/labs and 26 field offices, eliminate ~12,000 positions and 7.7M sq ft over five years. Total plan cost ~$1.7B; $525M pretax charge recorded in Q2 1995 for portion not expected to be recovered through future U.S. government contract pricing. Expected annual savings ~$1.8B once fully implemented. | |
| 1995-09-30 | restructuring | completed | 1995-01-01 | United States | Corporate headquarters and sector staffing | USD 165 (millions) | restructuring_footnote f5-10q / MiMo-V2.6-Flash-fp8-HTML | Q1 1995 pretax charge for merger-related fees, other payments, and relocation and severance costs associated with Lockheed Martin headquarters and sector staffing following the March 15, 1995 Business Combination. No employee count disclosed. | |||
| 1995-09-30 | restructuring | in_progress | 12,000 | 1995-06-26 | 1997-06-26 | U.S. and abroad | Corporate-wide | USD 1,700 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Corporate-wide consolidation plan to close 12 facilities, 26 offices, and eliminate 12,000 positions over five years. Total cost approx $1.7 billion. $525 million pretax charge recorded in Q2 1995 for portion not recoverable under future pricing. | |
| 1995-06-30 | restructuring | in_progress | 12,000 | 1995-06-26 | United States and abroad | Corporate-wide | USD 1,700 (millions) | restructuring_footnote f5-10q / GLM-5.3-flash-fp4-HTML | Corporate-wide consolidation plan announced June 26, 1995; expected annual savings of approximately $1.8 billion. Involves closing 12 facilities and laboratories plus 26 duplicative field offices, eliminating approximately 12,000 positions and 7.7 million square feet of unneeded capacity over the next five years. Total implementation cost approximately $1.7 billion, largely completed over the next two years, funded by operating cash flow supplemented by borrowings. A $525 million pretax charge was recorded in Q2 1995 for the portion not expected to be recovered under future U.S. government contract pricing. | ||
| 1995-06-30 | restructuring | in_progress | 1995-03-15 | Corporate-wide | USD 165 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Pretax charge of $165 million recorded in Q1 1995 for merger related fees, other payments, and relocation and severance costs associated with Lockheed Martin headquarters and sector staffing following the March 15, 1995 Business Combination. | ||||
| 1995-06-30 | restructuring | in_progress | 12,000 | 1995-06-26 | 2000-06-30 | United States and abroad | Corporate-wide | USD 525 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | Closes 12 facilities/labs and 26 field offices; removes 7.7 million sq ft over five years. Total plan cost approx. $1.7 billion, largely over two years; $525M Q2 charge is the portion not expected to be recovered through future U.S. government contract pricing. Expected annual savings approx. $1.8 billion. | |
| 1995-06-30 | restructuring | in_progress | 1995-03-15 | United States | Corporate headquarters and sector staffing | USD 165 (millions) | other f5-10q / MiMo-V2.6-Flash-fp8-HTML | First-quarter 1995 pretax charge for merger fees, other payments, and relocation and severance costs tied to the March 15, 1995 Business Combination. No employee count disclosed. | |||
| 1995-06-30 | restructuring | announced | 12,000 | 1995-06-26 | 1997-06-30 | U.S. and abroad | Corporate-wide | USD 525 (millions) | restructuring_footnote f5-10q / Qwen3.6-27B-Q8_0 | Corporate-wide consolidation plan announced June 26, 1995. Eliminates approx. 12,000 positions over next five years. Total cost approx. $1.7 billion. $525 million pretax charge recorded in Q2 1995 for portion not expected to be recovered under future pricing. | |
| 1995-03-31 | restructuring | in_progress | 1995-03-15 | Corporate headquarters and sector staffing | USD 165 (millions) | MD&A f5-10q / GLM-5.3-flash-fp4-HTML | Pretax charge of $165 million for merger related expenses from the Lockheed-Martin Marietta Business Combination, including fees, relocation and severance costs tied to headquarters and sector staffing; reduced net earnings by $110 million. Total Business Combination and integration costs estimated at approximately $850 million. No employee counts disclosed; cash payments primarily expected in Q2 1995. | ||||
| 1995-03-31 | restructuring | in_progress | 1995-03-31 | Headquarters and sector staffing | USD 165 (millions) | MD&A f5-10q / Qwen3.6-27B-Q8_0 | Merger related expenses including relocation and severance costs associated with Lockheed Martin headquarters and sector staffing. | ||||
| 1994-12-31 | acquisition_addition | completed | 1994-05-01 | United States | Space and Strategic Missiles | USD 213 (millions) | business_combinations_footnote f5-10k / MiMo-V2.6-Flash-fp8-HTML | Martin Marietta acquired the Space Systems Division of General Dynamics for cash; goodwill of approximately $213 million recognized. No headcount disclosed. | |||
| 1994-12-31 | acquisition_addition | in_progress | 1994-08-29 | 1995-03-15 | United States | All segments | USD 850 (millions) | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Lockheed/Martin Marietta stock-for-stock Combination; estimated integration costs of about $850 million, a significant portion expected to be charged to earnings. No headcount disclosed. | ||
| 1994-12-31 | restructuring | announced | 1995-03-15 | United States | All segments | USD 165 (millions) | other f5-10k / MiMo-V2.6-Flash-fp8-HTML | Subsequent event: pre-tax charge of $165 million for merger-related expenses recorded in Q1 1995; no employee counts disclosed. |